Davis Polk & Wardwell and Dorsey & Whitney lead $1.25 bn electronics deal
Davis, Polk & Wardwell and Dorsey & Whitney have taken leading roles in the $1.25 billion cash purchase of ADC Telecommunications Inc by hardware manufacturer Tyco Electronics. Tyco will tender $12.75 per share in the broadband equipment manufacturer – a 44 per cent premium on ADC's Monday closing price – and will conclude the deal with a merger agreement.
ADC was advised by Dorsey & Whitney, a firm that has served as the company's primary outside counsel for more than forty years. Partner Robert Rosenbaum led the team working on the deal, which also included partners Jonathan Van Horn, Michael Lindsay, John Chase, Stuart Hemphill, Michael Voves, and Sara Peterson.
Tyco Electronics turned to Davis, Polk & Wardwell for legal advice. The firm's team was led by M&A partner William Aaronson, who worked alongside partners Edmond Fitzgerald, Arthur Burke, and Frank Azzopardi.
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