International law firm Freshfields Bruckhaus Deringer has advised Honeywell International on its agreement to purchase the Elster division of Melrose Industries for approximately £3.3bn.
The transaction is subject to regulatory and Melrose shareholder approval, and it is expected to close in the first quarter of 2016. The acquisition is Honeywell’s largest since its merger with AlliedSignal Inc. in 1999.
Corporate partner Doug Bacon, commented: ‘This transaction brought together a range of our capabilities to help our clients grow their business. Our US M&A platform gives US domestic clients unrivalled access to high value, cross border deals expertise around the world.’
Ben Spiers, co-head of the Global M&A Group added: ‘We are proud to have had the opportunity to support Honeywell in this important transaction and it is another great example of our strong record in the M&A market.’
Honeywell is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials. The multi-jurisdictional Freshfields team was led by partners Ben Spiers and Doug Bacon, assisted by senior associate Omar Pringle and associate Rikin Morjaria. The German team was led by corporate partner Barbara Keil.
Source: www.freshfields.com
