Ted Powers is an associate in the Corporate Department in New York, specializing in mergers and acquisitions and general corporate and securities matters. His practice focuses on representing public and private companies in negotiated and contested mergers, tender and exchange offers, stock and asset acquisitions, divestitures, joint ventures, and restructuring and other corporate transactions. Mr. Powers regularly counsels corporate boards and committees in transactional and high-profile corporate governance matters.
Mr. Powers has extensive experience advising buyers, sellers, and targets in domestic and cross-border leveraged and strategic transactions.
In addition to advising leading U.S. and multinational companies across multiple industries, Mr. Powers also advises financial institutions. His engagements include deals in health care and life sciences, pharmaceuticals, financial services, technology, consumer products, and manufacturing.
Mr. Powers is also an editor of Unsolicited Views, Morrison & Foerster's monthly newsletter chronicling developments in hostile M+A.
Prior to joining Morrison & Foerster, Mr. Powers was an associate in the Mergers and Acquisitions Department of Skadden, Arps, Slate, Meagher & Flom LLP.
Selected representations by Mr. Powers appear below.
- Represented Vet Therapeutics, Inc. in its sale to Aratana Therapeutics, Inc. for cash, stock, and notes valued at approximately US$48.9 million.
- Represented SoftBank Corp. in its acquisition of a 78% stake in wireless operator Sprint Nextel Corporation for an enterprise value of US$44.8 billion.
- Represented Mitsui & Co., Ltd. in connection with forming joint ventures to develop infrastructure facilities.
- Represented Ambac Financial Group, Inc., MF Global Holdings LTD., and The PMI Group, Inc. in corporate aspects of their emergence from bankruptcy.
- Represented Fairfield Residential Trust in sale of interests in a portfolio of multi-family and low income housing.
- Represented Mitsui & Co., Ltd. in its acquisition of a 30% stake in 10 wind farms and 2 solar photovoltaic power plants in Canada from GDF SUEZ Canada Inc.
- Represented Toshiba Tec Corp. in its acquisition of the retail services division of International Business Machines Corp. in a transaction valued at approximately US$850 million.
- Represented DaVita HealthCare Partners, Inc. in its acquisition of HealthCare Partners Holdings, LLC in a transaction valued at US$4.42 billion.
- Represented Sumitomo Corporation in its divestiture of Cantex Inc.
- Represented Terumo Corporation in its acquisition of CaridianBCT from Gambro AB in a transaction valued at US$2.63 billion.
- Represented DNP Group in its acquisition of the remaining interest in DNP Photo Imaging America Corporation that it did not already own.
- Represented Arrendadora Ve por Más, S.A. in its acquisition of ING Arrendadora, S.A. de C.V. Organización Auxiliar de Crédito for total cash consideration of approximately US$70 million.
- Represented Fortress Investment Group LLC in the refinancing of US$1.7 billion in debt of Intrawest Resort Holdings, Inc.
- Represented MDS Inc. in its divestiture of its analytical technologies business to Danaher Corporation for total cash consideration of approximately US$650 million.
- Represented Columbus Acquisition Corp. in its proposed acquisition of Integrated Drilling Equipment Company in a transaction valued at US$249 million.
- Represented Comtech Telecommunications Corp. in its tender offer for Radyne Corporation and second-step merger in a transaction with an equity value of approximately US$224 million.
- Represented Lazard Frères & Co. LLC as financial advisor to Amazon.com, Inc. in Amazon’s tender offer for Audible, Inc. and second-step merger in a transaction valued at approximately US$300 million.
- Represented Cemex S.A.B. de C.V. in its divestiture of certain of its ready-mix concrete and concrete block operations to CRH plc in connection with Cemex’s acquisition of Rinker Group Ltd. for total cash consideration of approximately US$255 million.
- Represented the Board of Directors of Avaya Inc. in a leveraged buyout by a private equity consortium composed of Silver Lake Partners III, L.P. and TPG Partners V, L.P. in a transaction valued at approximately US$8.2 billion.
- Represented Citigroup Inc. in its acquisition of the subsidiaries and certain assets and liabilities of Central America's second-largest financial group from Corporación UBC Internacional S.A.
- Represented AutoZone, Inc. in evaluating strategic alternatives in response to its major shareholder, ESL Investments, Inc.
- Represented Employers Holdings, Inc. in its conversion from a mutual insurance holding company into a stock corporation and the related initial public offering of its common stock with a market capitalization of approximately US$900 million.
- Represented AmerUS Group Co. in its acquisition by Aviva plc in a transaction valued at US$3.6 billion.
- Represented Alltel Communications, Inc. in its purchase of Western Wireless Corporation in a stock-and-cash transaction valued at approximately US$6 billion.
- Represented RUSAL in the purchase of a US$400+ million alumina/bauxite mine and facility in Australia and a proposed purchase of a US$300+ million mine and facility in Jamaica in the Kaiser Aluminum Corporation bankruptcy cases.