Vinson & Elkins and Wachtell Lipton lead $1 billion hostile takeover of Tulsa-based SemGroup

October 28, 2011 Houston-based Plains All American Pipeline is intent on the acquisition of rival Tulsa-based company SemGroup. but when its $1 billion offer was rejected by the board of the company Plains decided to make a hostile bid, taking its buyout offer directly to the oil and gas company's shareholders at $24 cash per share.

Plains is advised by Vinson & Elkins and Delware–based firm Morris, Nichols, Arsht & Tunnell. The V&E team is led by Houston-based M&A partners Jeffery Floyd and Alan Beck, with assistance from tax partner John Lynch and antitrust partner William Vigdor.

SemGroup is advised by Wachtell, Lipton, Rosen & Katz, which fielded a team led by corporate partner David Katz.

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