Cartel Digest

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News

News

Textron Inc.’s Tools & Test Acquisition by Emerson

Shearman & Sterling advised industrial conglomerate Textron on the sale of its Tools and Test Business (“Tools & Test”) to Emerson, a global technology and engineering company, for approximately $810 million.  The acquisition, joined with Emerson’s Ridge Tool Company, creates a global $1 billion professional tools business with the broadest offering for mechanical, electrical and plumbing contractors. The closing of the transaction is subject to the satisfaction of customary closing conditions, including the receipt of regulatory approvals.

Shearman & Sterling Shares Win for Litigation of the Year – Cartel Defense at the GCR Awards

Shearman & Sterling, together with counsel representing other defendants in the ongoing U.K. air cargo follow-on litigation, received Litigation of the Year – Cartel Defense award from Global Competition Review (GCR) for its work on behalf of Cargolux Airlines. This award is an annual celebration of “creative, strategic and innovative litigation on behalf of a defendant in a private action for cartel damages” over the past year. The 2018 GCR Awards ceremony was, held in Washington, DC on April 10.

Shearman & Sterling Announces Matthew Readings as London Office Managing Partner

Shearman & Sterling is pleased to announce that Matthew Readings will take over as London Office Managing Partner, effective Wednesday, April 11. Matthew will work closely with EMEA Regional Managing Partner Marwan Elaraby, our other Regional Managing Partners and Senior Partner Dave Beveridge. He succeeds Nick Buckworth, who will continue in full-time practice and focus on his role as Global Head of Finance.

Concurrences Antitrust Writing Awards 2018 Nominations

Various partners and associates of the Antitrust and Litigation teams have been nominated for the Concurrences Antitrust Writing Awards 2018.  

Jessica Delbaum, David Higbee, Djordje Petkoski, Wayne Dale Collins and Arjun Chandran are nominated for the article on “The FTC’s Challenge of Red Ventures–Bankrate: Antitrust Risks in Deals Backed by Private Equity Minority Shareholders;” Geert Goeteyn, Elvira Aliende Rodriguez, Susanna Charlwood, Jo Rickard and Ruba Noorali are nominated for the article on “The English High Court Rules in Favour of Air Cargo Defendants Regarding Temporal Scope of Claimants’ Claims;” Matthew Readings, Geert Goeteyn, Elvira Aliende Rodriguez and Ruba Noorali are nominated for the article on “Icap v. Commission: General Court Upholds Cartel Liability of Facilitators, but Attempts to Rein in Commission’s Approach in Settlements;” and James Webber and George Milton are nominated for the article on “EU Court Decides EU Merger Control Can Only Catch Joint Control Transactions If the Resulting Entity Is ‘Full-Function’.”  

Sale of MeinAuto GmbH

Shearman & Sterling advised the previous shareholders of MeinAuto GmbH, including Holtzbrinck Ventures GmbH, Global Founders Capital GmbH & Co., Beteiligungs KG Nr. 1, Vorwerk Direct Selling Ventures GmbH and Herrn Nicolas Leutwiler, on the sale of their shares to the U.K. investment firm HgCapital.

Pro-Gest’s €250 Million Inaugural High Yield Bond Offering

Shearman & Sterling advised Credit Suisse as sole global coordinator on Pro-Gest S.p.A.’s €250 million inaugural high yield bond offering. Pro-Gest expects to use the proceeds of the offering to repay certain outstanding indebtedness and for general corporate purposes, including the prefunding of capital expenditures.

Thomas Cook's €400 Million High Yield Bond Offering

Shearman & Sterling advised Barclays, DNB Markets, UniCredit Bank, BNP Paribas, BofA Merrill Lynch, Lloyds Bank, NatWest Markets and Société Générale on Thomas Cook's €400 million high yield bond offering.

Shearman & Sterling Hosts Thanksgiving Dinner at Biblioteca Nacional de España in Madrid

The firm hosted a traditional American Thanksgiving dinner on November 15 at the Biblioteca Nacional de España, a venue that had only been used for a private event twice before since its opening in the 1800s. The event brought together many of the firm’s key clients and local counsel in Spain and provided networking opportunities for attendees, including 25 partners and counsel from offices in New York, Paris, London, Milan, Brussels and Frankfurt.