Bracewell LLP represented Bluescape in its investment in the mandatory convertible preferred equity issued by FirstEnergy Corp. (NYSE: FE) (“FirstEnergy”).
FirstEnergy secured a $2.5 billion investment in the company that includes $1.62 billion in mandatory convertible preferred equity and $850 million of common equity. As part of this transaction, C. John Wilder, executive chairman of Bluescape, will join a restructuring working group formed by FirstEnergy to maximize value and certainty to FirstEnergy, while minimizing the timing to exit competitive generation.
Bracewell attorneys advised with Will Anderson (Picture), Stephanie Koo Song, Robin J. Miles and Kurt A. Mayr, Tara C. Ivascu and Benjamin J. Martin
Ropes & Gray represented Elliott Management Corporation with a team including Jonathan Gill and Keith Wofford.
Involved fees earner: William Anderson – Bracewell; Benjamin Martin – Bracewell; Stephanie Koo Song – Bracewell; Robin Miles – Bracewell; Tara Ivascu – Bracewell; Jonathan Gill – Ropes & Gray; Keith Wofford – Ropes & Gray;