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Deal Date: 10-10-2014 Practice Area: Corporate and M&A
Deal Title: Apax Partners/Eiger Acquisition Public Offer for Exact Industry: Software & Computer Services
Clifford Chance advised Eiger Acquisition B.V., a wholly owned subsidiary of certain funds advised by Apax Partners, on its recommended full public offer for all of Exact's issued and outstanding shares of EUR 32.00 (cum dividend) in cash per share. Exact and Eiger Acquisition B.V. have reached conditional agreement on the offer which values Exact at EUR 730 million (USD 922.15 million). The offer price represents a premium of 27% to the closing price of 10 July 2014 and a premium of 40% to the average closing share price of the last 12 months prior to that date. The Board of Managing Directors and the Supervisory Board of Exact fully support and unanimously recommend the offer to shareholders. Founding and other major shareholders have undertaken to support and accept the offer, representing approximately 60% of Exact's outstanding shares. The Clifford Chance team was jointly led by Thijs Alexander and Jeroen Thijssen and furthermore consisted of Han Teerink, David Shearer and Rona Nisar (Corporate), Bas Boris Visser and Mirjam van der Kaay (Banking), Michiel Sunderman and Stern Flik (Tax), Alvin Khodabaks, Sara van Mourik and Nadia Jagusiak (IT/IP), Helen Gornall and Lotte van Aanholt (Competition), Hein van den Hout and Simone Schmeetz (Employment).
Financial Center: Amsterdam Value: 500.01-1000.00
Advised Party: Acquiror Law Firm
Target Company Jurisdiction: Germany Acquiror Jurisdiction: United Kingdom
Classification: Strategic Buyer Acquisitions Public Company - Recommended Offer
Lawyer Thijs Alexander