Wardwell

ExxonMobil Announces Merger with Pioneer Natural Resources in an All-Stock Transaction

Retrieved on: 
Wednesday, October 11, 2023
Environment, Engineering, Chemicals, Plastics, Oil, Gas, Sustainability, Manufacturing, Green Technology, Other Natural Resources, Energy, Natural Resources, Permian, Multimedia, NYSE, ExxonMobil, Pioneer Natural Resources, Gibson Dunn, Central Time, Citigroup, Morgan Stanley, Automation, XOM, Wardwell, Combining, Goldman Sachs, PXD, Water, Methane, Banc of America Securities (1998–2008), Centerview Partners, Davis Polk, Bank, Silent Scope 2, Renewable energy, Coal, Pioneer

Exxon Mobil Corporation (NYSE: XOM) and Pioneer Natural Resources (NYSE: PXD) jointly announced a definitive agreement for ExxonMobil to acquire Pioneer.

Key Points: 
  • Exxon Mobil Corporation (NYSE: XOM) and Pioneer Natural Resources (NYSE: PXD) jointly announced a definitive agreement for ExxonMobil to acquire Pioneer.
  • The merger is an all-stock transaction valued at $59.5 billion, or $253 per share, based on ExxonMobil’s closing price on October 5, 2023.
  • Under the terms of the agreement, Pioneer shareholders will receive 2.3234 shares of ExxonMobil for each Pioneer share at closing.
  • ExxonMobil and Pioneer will discuss the proposed merger during a webcast at 11 a.m. Central Time today, Wednesday, October 11, 2023.

Ares Management Corporation and Vinci Partners Announce Strategic Partnership and Investment

Retrieved on: 
Tuesday, October 10, 2023
Asset Management, Professional Services, Finance, Partnership, Investment, Knowledge, Jefferies, NYSE, Wells Fargo, DNA, Wardwell, Strategic partnership, Alberta Investment Management Corporation, ARES, Growth, Kirkland & Ellis, History, Vinci (board game), Creative industries, Management, Vinci

Ares Management Corporation (“Ares”) (NYSE: ARES) and Vinci Partners Investments Ltd. (“Vinci Partners” or “Vinci”) (NASDAQ: VINP) announced today that they have reached an agreement to form a strategic partnership to accelerate the growth of Vinci's platform in Latin America and to collaborate on distribution, product development and other business opportunities (the “Strategic Partnership”).

Key Points: 
  • Ares Management Corporation (“Ares”) (NYSE: ARES) and Vinci Partners Investments Ltd. (“Vinci Partners” or “Vinci”) (NASDAQ: VINP) announced today that they have reached an agreement to form a strategic partnership to accelerate the growth of Vinci's platform in Latin America and to collaborate on distribution, product development and other business opportunities (the “Strategic Partnership”).
  • New Product Development and Investment Collaboration: Ares and Vinci will explore launching co-branded products and investment strategies that leverage each platform’s unique capabilities.
  • Additionally, Ares and Vinci will collaborate on new investment opportunities in Latin America that could be suitable for the companies’ respective investment strategies.
  • “We are pleased to announce this strategic partnership with a leading multi-asset class investment manager in Latin America,” said Michael Arougheti, Chief Executive Officer and President of Ares.

Emerson Completes Acquisition of NI, Advancing Global Automation Leadership

Retrieved on: 
Wednesday, October 11, 2023
Control, NYSE, Acquisition, BofA Securities, Government, Wardwell, NATI, Test & Measurement World, Transport, Wachtell, Lipton, Rosen & Katz, Software, Electronics, EBITA, Growth, Strategic business unit, Centerview Partners, Test, Mobile phone, Management

ST. LOUIS, Oct. 11, 2023 /PRNewswire/ -- Emerson (NYSE: EMR) today announced it has closed its acquisition of NI (Nasdaq: NATI), a leading provider of software-connected automated test and measurement systems, at an equity value of $8.2 billion.

Key Points: 
  • The acquisition of NI advances Emerson's position as a global automation leader and expands its opportunity to capitalize on key secular trends like nearshoring, digital transformation, and sustainability and decarbonization.
  • "Our acquisition of NI is a significant milestone in our efforts to transform Emerson and realize our vision of increasing growth, cohesiveness and end market diversification across Emerson's portfolio," said Emerson President and Chief Executive Officer Lal Karsanbhai.
  • NI will become a new reported segment within Emerson called Test & Measurement and will be consolidated into the Software and Control group.
  • Goldman Sachs & Co. LLC and Centerview Partners LLC served as financial advisors to Emerson and Davis Polk & Wardwell LLP served as legal advisor.

NICE to Acquire LiveVox, Revolutionizing How Organizations Manage Proactive Outreach With the Power of Conversational AI at Scale

Retrieved on: 
Wednesday, October 4, 2023
Mobile, Wireless, Networks, Internet, Professional Services, Data Management, Consumer Electronics, Apps, Applications, Technology, Artificial Intelligence, Other Professional Services, Other Technology, Telecommunications, Wardwell, LLP, Kirkland & Ellis, CX, Human, Conversation, Organization, Share repurchase, Jefferies Group, Acquisition, Growth, Digital, EPS, AI, News, NICE, Sales

NICE (NASDAQ: NICE) and LiveVox (NASDAQ: LVOX) today announced that NICE has entered a definitive agreement to acquire LiveVox, a leading AI-driven proactive outreach provider.

Key Points: 
  • NICE (NASDAQ: NICE) and LiveVox (NASDAQ: LVOX) today announced that NICE has entered a definitive agreement to acquire LiveVox, a leading AI-driven proactive outreach provider.
  • Together, NICE and LiveVox will help organizations accelerate their CX operations into the digital era with smart conversational AI at scale.
  • NICE CXone has the largest array of native applications to manage customer journeys, improve employee engagement and drive complete performance.
  • Barak Eilam, CEO, NICE, said, “Today, we are taking another major step in making smart conversational AI a reality.

AUO Board Approves Acquisition of German Behr-Hella Thermocontrol GmbH ("BHTC") to Advance Global Strategic Expansion into Smart Mobility Ecosystem

Retrieved on: 
Monday, October 2, 2023
Morgan Stanley, Wardwell, Go (Vertical Horizon album), Electronic control unit, AUO Corporation, Tier 1, Original equipment manufacturer, HMI, AUO, Lighting, Mahle Behr, EBITDA, Acquisition, Correlative light-electron microscopy, Growth, Environment, ECU, Renewable energy, Management, Electronics

AUO continues to implement its biaxial transformation strategy, expand applications in vertical markets, and establish the value chain ecosystem.

Key Points: 
  • AUO continues to implement its biaxial transformation strategy, expand applications in vertical markets, and establish the value chain ecosystem.
  • The transaction is expected to lead to sustainable growth and create long-term value for AUO's shareholders.
  • The acquisition has been approved by the AUO board of directors and will be financed through AUO's internal cash resources.
  • Morgan Stanley acted as the exclusive financial advisor to AUO Corporation in relation to this acquisition, and Davis Polk & Wardwell LLP acted as legal counsel to AUO Corporation.

TPG Completes Acquisition of Forcepoint Global Governments and Critical Infrastructure Cybersecurity Business from Francisco Partners

Retrieved on: 
Monday, October 2, 2023
Security, Defense, Data Management, Technology, Contracts, Wardwell, TPG Inc., Intelligence, Multimedia, Forcepoint, Government, TPG, Critical infrastructure, Citigroup, Acquisition, Risk, Francisco Partners, McAfee, Commercial, AI, TCO, Barclays, Management

Global security leader Forcepoint today announced the completed acquisition of the company’s Global Governments and Critical Infrastructure (G2CI) cybersecurity business by TPG , a global alternative asset management firm.

Key Points: 
  • Global security leader Forcepoint today announced the completed acquisition of the company’s Global Governments and Critical Infrastructure (G2CI) cybersecurity business by TPG , a global alternative asset management firm.
  • TPG acquired the business through TPG Capital, its large-scale U.S. and European private equity platform.
  • Under Berg’s leadership, the Forcepoint G2CI business grew to become an industry leader in Cross Domain and Insider Threat Solutions for government agencies worldwide.
  • “Cyberattacks from malicious nation-states, bad actors and insiders remain an existential threat to global governments and private industry,” said Andrew Kowal, Partner at Francisco Partners.

LEARFIELD Announces Closing of Recapitalization Transaction and Equity Investment, Positioning the Company for Continued Growth

Retrieved on: 
Wednesday, September 13, 2023
Data Management, Communications, Sports, Technology, Software, General Sports, Media, Centerview Partners, LLP, BRG, Sport, Wardwell, Fortification, Kirkland & Ellis, Fandom, University, Charlesbank Capital Partners, White & Case, CLC, Latham & Watkins, Fortress Investment Group, Sidley Austin, NIL, Cole, Simpson Thacher & Bartlett, School, Alvarez and Marsal, Growth, Paul, Weiss, Rifkind, Wharton & Garrison, Security (finance), Management, Financial adviser, Accounting, Comcast Spectacor

LEARFIELD (or the “Company”), a leading media and technology company powering college athletics, today announced that it has closed on a comprehensive deleveraging transaction with its lenders and equity partners.

Key Points: 
  • LEARFIELD (or the “Company”), a leading media and technology company powering college athletics, today announced that it has closed on a comprehensive deleveraging transaction with its lenders and equity partners.
  • The Company’s prior equity holders will retain an equity stake in the Company.
  • We’re just getting started.”
    This transaction is the latest transformative initiative implemented by the Company to evolve media and technology in college athletics and position partners for growth.
  • Latham & Watkins LLP and Davis Polk & Wardwell LLP served as legal advisors to certain of the Company’s current equity holders.

KKR to Invest ₹ 2,069.50 Crore in Reliance Retail Ventures Limited at an Equity Value of ₹ 8.361 Lakh Crore; to Increase Equity Stake From 1.17% to 1.42%

Retrieved on: 
Monday, September 11, 2023
Professional Services, Retail, Business, Other Professional Services, Other Retail, Specialty, Finance, Morgan Stanley, Wardwell, Partnership, Employment, Reliance Industries, E-commerce, KKR, MSME & Startups Forum - Bharat, Davis Polk, Digital, Pension fund, Cryptocurrency, Reliance Retail

Reliance Retail Ventures Limited (“RRVL”) announced today that global investment firm KKR, through an affiliate, will invest ₹ 2,069.50 crore into RRVL, a subsidiary of Reliance Industries.

Key Points: 
  • Reliance Retail Ventures Limited (“RRVL”) announced today that global investment firm KKR, through an affiliate, will invest ₹ 2,069.50 crore into RRVL, a subsidiary of Reliance Industries.
  • This investment values RRVL at a pre-money equity value of ₹ 8.361 lakh crore, which makes it among the top four companies by equity value in the country.
  • Ms Isha Mukesh Ambani, Director, Reliance Retail Ventures Limited, said, “We are pleased to receive continued support from KKR as an investor in Reliance Retail Ventures Limited.
  • Morgan Stanley acted as financial advisor to Reliance Retail Ventures Limited and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsels.

MCDERMOTT ANNOUNCES TRANSACTION SUPPORT AGREEMENT WITH KEY FINANCIAL STAKEHOLDERS TO POSITION COMPANY FOR LONG-TERM SUCCESS

Retrieved on: 
Friday, September 8, 2023
PJT Partners, Line of credit, Equity, Credit Suisse, Security (finance), NautaDutilh, Alvarez and Marsal, McDermott International, Commerce, Agreement, Wardwell, Linklaters, Letter, LC, Bracewell LLP, McDermott, Work, Intend, Credit, Safety, LLP, International, Kirkland & Ellis, CB, Carbon, McKelvy, International Chamber of Commerce, CB&I, Companies Act 2006, TSA, FTI Consulting, Part, Loyens & Loeff, ICC, Weil, Gotshal & Manges, Republic, Good, Bracewell, Contract bridge

To implement the Agreement, McDermott International Holdings B.V. and Lealand Finance Company B.V. will initiate procedures in the Netherlands under the Dutch Act on Confirmation of Extrajudicial Plans (Wet Homologatie Onderhands Akkoord or "WHOA").

Key Points: 
  • To implement the Agreement, McDermott International Holdings B.V. and Lealand Finance Company B.V. will initiate procedures in the Netherlands under the Dutch Act on Confirmation of Extrajudicial Plans (Wet Homologatie Onderhands Akkoord or "WHOA").
  • CB&I UK Limited will initiate a Restructuring Plan under Part 26A of the Companies Act 2006 (UK) in England.
  • McDermott International Holdings B.V., Lealand Finance Company B.V., and CB&I UK Limited are the only McDermott entities named in these proceedings.
  • "We are pleased to have reached this agreement with our key stakeholders, which demonstrates their confidence in the long-term strength and sustainability of our business.

Sabre Corporation Announces Settlement of the Exchange Offers for Certain Senior Secured Debt Securities Due 2025 and Issuance of New Notes Due 2027

Retrieved on: 
Thursday, September 7, 2023
Wardwell, Note, Senior, Initial exchange offering, Settlement date, SEC Rule 144A, Expiration date, BofA Securities, Exchange, Latham & Watkins, Person, Expiration, Sabre Corporation, SABR, CFO, Security (finance), News & Notes, Sabre

SOUTHLAKE, Texas, Sept. 7, 2023 /PRNewswire/ -- Sabre Corporation ("Sabre") (NASDAQ: SABR) today announced the settlement of the previously announced exchange offers (each, an "Exchange Offer" and together, the "Exchange Offers") by Sabre GLBL Inc. ("Sabre GLBL"), a wholly-owned subsidiary of Sabre, for any and all of its outstanding 7.375% Senior Secured Notes due 2025 (the "September 2025 Notes") and 9.250% Senior Secured Notes due 2025 (the "April 2025 Notes" and, together with the September 2025 Notes, the "Existing Notes" and each of them a "series" of Existing Notes), and the issuance of Sabre GLBL's new 8.625% Senior Secured Notes due 2027 (the "New Notes" and together with the Existing Notes, the "Securities").

Key Points: 
  • SOUTHLAKE, Texas, Sept. 7, 2023 /PRNewswire/ -- Sabre Corporation ("Sabre") (NASDAQ: SABR) today announced the settlement of the previously announced exchange offers (each, an "Exchange Offer" and together, the "Exchange Offers") by Sabre GLBL Inc. ("Sabre GLBL"), a wholly-owned subsidiary of Sabre, for any and all of its outstanding 7.375% Senior Secured Notes due 2025 (the "September 2025 Notes") and 9.250% Senior Secured Notes due 2025 (the "April 2025 Notes" and, together with the September 2025 Notes, the "Existing Notes" and each of them a "series" of Existing Notes), and the issuance of Sabre GLBL's new 8.625% Senior Secured Notes due 2027 (the "New Notes" and together with the Existing Notes, the "Securities").
  • The Exchange Offers expired at 5:00 p.m., New York City time, on September 5, 2023 (the "Expiration Date").
  • In total, approximately $787 million and $66 million of September 2025 Notes and April 2025 Notes, respectively, were exchanged by Sabre GLBL on September 7, 2023 (the "Settlement Date").
  • On the Settlement Date, Sabre GLBL issued approximately $853 million in New Notes and paid approximately $115 million in cash to Eligible Holders (as defined below) whose Existing Notes were accepted for exchange in the Exchange Offers.