Related Articles
Kirkland & Ellis and rival Paul Weiss are advising on the latest bid for Britain’s Royal Mail by Czech billionaire Daniel Kretinsky.
Kirkland & Ellis is acting for EP Corporate Group, which Wednesday made a fresh bid for Royal Mail parent company International Distributions Services Plc that values it at £3.5 billion ($4.4 billion). EP Group is owned by Kretinsky, known as the “Czech Sphinx” for his inscrutable approach to investing.
Kirkland London partners David Higgins, Dipak Bhundia, Jiri Peterka and Matthew Sinclair-Thomson are advising, according to the firm.
London co-head Neel Sachdev and partner Stefan Arnold-Soulby are advising EP Group on the financing and structuring element of the proposed offer, according to people with knowledge of the situation.
The offer is being considered by IDS’ board. EP Group previously made a non-binding proposal of 320 pence per share that was rejected by the board, which said it undervalued the business.
UK Magic Circle firm Slaughter and May partners Richard Smith and Claire Jackson are advising Royal Mail management on the bid, according to a firm spokesperson. Slaughter and May has a longstanding relationship with Royal Mail.
Paul, Weiss, Rifkind, Wharton & Garrison invigorated its London base with the addition of Sachdev and his team from Kirkland & Ellis less than a year ago.
Paul Weiss has expanded its presence outside the US in recent months. The firm has launched a Brussels office with two hires, its first in continental Europe.
Source link
