Ashurst acts on takeover bid for Center Parcs
Ashurst has advised Blackstone and Forest Bidco, an acquisition vehicle formed by Blackstone, on Forest Bidco’s £205m takeover offer for Center Parcs. The 80p- per-share bid has been recommended to shareholders by Center Parcs’ directors. The Ashurst team was led by corporate partners Charlie Geffen, Jonathan Angell and Robert Ogilvy Watson. Ashurst’s head of corporate Adrian Clark acted for Forest Bidco’s financial adviser Rothschild. Lovells partner Gary Hamp is advising the lender Barclays, and Simmons & Simmons partner Tim Field is representing Center Parcs.
SJ Berwin advises Wal-Mart subsidiary on JV
SJ Berwin has advised Gazeley, the industrial developer owned by US retail group Wal-Mart, on its £1bn joint venture with Hermes to create the Large Distribution Unit Fund. SJ Berwin partners Jon Vivian and Pat Thomas led the team advising Gazeley. Maxwell Batley partner Rhodri Pazzi-Axworthy advised Hermes.
Hengeler, Gleiss Lutz brought in on Merck bid
Germany’s Hengeler Mueller, led by partner Maximilian Schiessl, and Gleiss Lutz, led by partner Gerhard Wirth, landed roles on pharmaceutical company Merck’s takeover bid for Schering. Merck, advised by Gleiss Lutz, made a e14.9bn (£10.3bn) hostile offer for Schering, which was advised by Hengeler. The bid was rejected last week. Simpson Thacher & Bartlett is advising Merck on US aspects of the deal.
Skadden Arps Slate Meagher & Flom is advising Bear Stearns as financial adviser to Merck.