Mergers and Acquisitions
Munger, Tolles & Olson’s corporate group represents buyers and sellers in connection with M&A transactions and privately negotiated investments.
On the buy-side, we focus on representing private equity firms, financial sponsors and strategic investors in negotiating their acquisitions of everything from small minority stakes to multi-billion-dollar businesses. On the sell-side, we represent companies, boards, special committees and shareholders in helping them plan for and ultimately achieve their exit goals.
For all clients, we strive to build long-standing collaborative relationships, based on an in-depth understanding of our clients’ needs and a unique appreciation for their strategic goals.
We assist with closing our clients’ most creative and cutting-edge deals, in a wide variety of industries, through every stage of the investment cycle, from due diligence to post-closing integration. A sample of our recent M&A work includes representing:
- Berkshire Hathaway in its:
- $44 billion acquisition of Burlington Northern Santa Fe Railway.
- $28 billion acquisition of H.J. Heinz Company.
- $9.7 billion acquisition of The Lubrizol Corporation in an all-cash transaction.
- merger with Wesco Financial Corporation in a cash and stock deal valuing Wesco at $2.7 billion.
- acquisition of Phillips Specialty Products Inc. from Phillips 66 in a deal valued at approximately $1.4 billion.
- acquisition of a subsidiary of Graham Holdings Company, which included a Miami-based television station, in a deal valued at approximately $1.1 billion.
- $5 billion investment in Bank of America.
- $3 billion investment in General Electric.
- $3 billion investment in Dow Chemical.
- 3 billion in Swiss francs financing of Swiss Re.
- BDT Capital in:
- the $1 billion acquisition of Peet’s Coffee & Tea and $340 million acquisition of Caribou Coffee, by BDT Capital as a minority investor and Joh. A. Benckiser as a majority investor.
- its equity investment in Colfax Corporation, to help fund Colfax’s $2.4 billion acquisition of Charter International plc.
- Todd Pedersen and Alex Dunn, CEO and President of Vivint Inc., in the acquisition of a majority interest in the company by Blackstone Group.
- FEMSA Comercio, S.A. de C.V. (FEMCO) in its investment in, and eventual acquisition of, Specialty’s Café & Bakery, Inc.
- Lindsay Corporation in its $70.5 million acquisition of Elecsys Corporation.
- Oaktree Capital Funds in a $250 million investment in Genesis Capital.
- HealthCare Partners in its sale to DaVita in a cash and stock transaction valued at $4.42 billion.
- Beats Electronics and Beats Music in the:
- investment of $500 million in Beats by the Carlyle Group.
- $3 billion sale of Beats to Apple.
- 99 Cents Only Stores in its $1.6 billion sale to Ares Management and the Canada Pension Plan Investment Board.
- Internet Brands in its sale to global investment firm KKR.
- Guardian Industries in:
- a complex recapitalization that involved a minority equity investment by Koch Industries.
- the sale of its fiberglass insulation manufacturing division to Knauf Insulation.
- BlackLine Systems in connection with a majority investment by a Silver Lake Sumeru-led investor group.
Robert E. Denham