U.S. Bancorp’s $8 Billion Acquisition of MUFG Union Bank

Simpson Thacher advised U.S. Bancorp on the transaction while Sullivan & Cromwell represented Mitsubishi UFJ Financial Group.

U.S. Bancorp announced its proposed acquisition of MUFG Union Bank’s core regional banking franchise from Mitsubishi UFJ Financial Group for approximately $8 billion, including $5.5 billion in cash and approximately 44 million shares of U.S. Bancorp common stock.  

U.S. Bancorp is a diversified financial services company that provides lending and depository services, cash management, foreign exchange and trust and investment management services. 

MUFG Union Bank provides banking services. The Bank offers saving accounts, loans, investment, retirement, and online banking services.  

The Simpson Thacher team included Lee Meyerson (Picture), Ravi Purushotham, Louis Argentieri, Alisha Tupchong and Benjamin Kloss (M&A); Adam Cohen, Spencer Sloan and Noah DeBlasi (Bank Regulatory); Jeannine McSweeney and Joo Hyun Lee (Executive Compensation and Employee Benefits); Jonathan Goldstein, Tyler Robbins and Gurnaina Chawla (Tax); Lori Lesser, Corina McIntyre and Justin Calderon (IP); David Blass, Meredith Abrams and Billy LeBas (Broker-Dealer); Michael Isby (Environmental); and Peter Guryan and Richard Jamgochian (Antitrust).

The S&C team advising Mitsubishi UFJ includes Rodge Cohen, Donald Toumey, Keiji Hatano (Tokyo) and Michelle Chen. Heather Coleman advised on executive compensation matters. Mehdi Ansari advised on intellectual property matters. David Spitzer advised on tax matters.

 

Involved fees earner: Meredith Abrams – Simpson Thacher & Bartlett; Louis Argentieri – Simpson Thacher & Bartlett; David Blass – Simpson Thacher & Bartlett; Justin Calderon – Simpson Thacher & Bartlett; Gurnaina Chawla – Simpson Thacher & Bartlett; Adam Cohen – Simpson Thacher & Bartlett; Noah DeBlasi – Simpson Thacher & Bartlett; Jonathan Goldstein – Simpson Thacher & Bartlett; Peter Guryan – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Richard Jamgochian – Simpson Thacher & Bartlett; Benjamin Kloss – Simpson Thacher & Bartlett; William LeBas – Simpson Thacher & Bartlett; Joo Hyun Lee – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Corina McIntyre – Simpson Thacher & Bartlett; Jeannine McSweeney – Simpson Thacher & Bartlett; Lee Meyerson – Simpson Thacher & Bartlett; Ravi Purushotham – Simpson Thacher & Bartlett; Tyler Robbins – Simpson Thacher & Bartlett; Spencer Sloan – Simpson Thacher & Bartlett; Alisha Tupchong – Simpson Thacher & Bartlett; Mehdi Ansari – Sullivan & Cromwell; Michelle Chen – Sullivan & Cromwell; Rodgin Cohen – Sullivan & Cromwell; Heather Coleman – Sullivan & Cromwell; Keiji Hatano – Sullivan & Cromwell; David Spitzer – Sullivan & Cromwell; Donald Toumey – Sullivan & Cromwell;

Law Firms: Simpson Thacher & Bartlett; Sullivan & Cromwell;

Clients: Mitsubishi UFJ Financial Group; US Bancorp;

Author: Alejandro Girola