Kenneth A. Siegel
Corporate, Mergers + Acquisitions, FinTech, Joint Ventures + Global Strategic Alliances | Japan, Intellectual Property / Technology Transactions | Japan, Telecommunications | Japan, Technology, Japan, and Corporate Finance | Capital Markets
MoFo News Item
Morrison & Foerster took home two trophies from Mergermarket’s 2019 Japan M&A Awards, which were held on June 27 in Tokyo.
A media company that focuses on M&A, Mergermarket named MoFo:
To select the winners, Mergermarket’s panel of expert judges—who came from a variety of industry backgrounds including investment banking and academia—shortlisted firms based on the judges’ analysis of market-leading league tables and the judges’ scrutiny of the submissions advanced by the shortlisted firms.
According to Mergermarket’s website’s description of the selection process, the judges were “looking for the story behind the data, such as the value-adding nature of the advisory work [that the firm] provided to clients, examples of innovative or creative solutions to complex situations and how [the firm] helped get the deal across the line.”
Here are some of the notable M&A deals that we worked on in 2018:
Sprint’s $59 billion merger with T-Mobile. In the largest Technology, Media, and Telecommunications deal announced in 2018, MoFo is lead counsel to both Sprint Corp. and SoftBank Group Corp., Sprint’s controlling shareholder, on the proposed merger of Sprint and T-Mobile US, Inc. The total implied enterprise value for Sprint is $59 billion and the aggregate implied enterprise value for the combined company is $146 billion. This deal has been characterized as one of the largest telecommunications deals in history.
Renesas’s $6.7 billion acquisition of Integrated Device Technology. We represented Renesas Electronics Corporation in its $6.7 billion acquisition of NASDAQ-listed Integrated Device Technology (IDT), a market-leading analog mixed-signal company.
SoftBank’s stake purchase in Yahoo Japan from Altaba. We represented SoftBank in a series of transactions with Altaba relating to Yahoo Japan, including a $2 billion tender offer by SoftBank for shares of Yahoo Japan held by Altaba and an approximately $2 billion (JPY 220 billion) self-tender offer by Yahoo Japan for its shares held by SoftBank.
Mitsubishi UFJ Financial Group’s online payment network joint venture with Akamai. We represented Mitsubishi UFJ Financial Group in the formation of Global Open Network, Inc., a joint venture with Akamai Technologies to provide a blockchain-based online payment network in Japan.
Morrison & Foerster's Tokyo office has the most active M&A practice of any global firm in Japan. We have over 50 attorneys who are principally engaged in cross-border M&A.
Morrison & Foerster also has more top-ranked Chambers and Partners practices and attorneys than any other international firm in Japan. We are the only firm ranked Tier/Band 1 in Japan international M&A by each of Chambers Global, Chambers Asia Pacific, The Legal 500 Asia Pacific, and IFLR1000.
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