Verizon’s $4.8 Billion Acquisition of Yahoo

LionTree Advisors, LLC, Allen & Company LLC, Bank of America Merrill Lynch and Guggenheim Securities, LLC are acting as financial advisors to Verizon. Wachtell, Lipton, Rosen & Katz, Gibson, Dunn & Crutcher LLP, Covington & Burling LLP and Winston & Strawn LLP are acting as legal advisors to Verizon. Goldman, Sachs & Co., J.P. Morgan Securities LLC and PJT Partners are acting as financial advisors to the Yahoo Board and its Strategic Review Committee. Skadden, Arps, Slate, Meagher & Flom LLP, Wilson Sonsini Goodrich & Rosati and Weil Gotshal & Manges LLP are acting as legal advisors to Yahoo. Cravath, Swaine & Moore LLP is independent legal advisor to Yahoo’s Strategic Review Committee.

Verizon Communications Inc. and Yahoo! Inc. have entered into a definitive agreement under which Verizon will acquire Yahoo’s operating business for approximately $4.83 billion in cash, subject to customary closing adjustments.

Yahoo informs, connects and entertains a global audience of more than 1 billion monthly active users** — including 600 million monthly active mobile users*** through its search, communications and digital content products. Yahoo also connects advertisers with target audiences through a streamlined advertising technology stack that combines the power of their data, content and technology.

Wachtell Lipton advised Verizon with a team led by corporate partners Steven A. Rosenblum (Picture) and Edward J. Lee.

Gibson Dunn advised Verizon with a team including Rashida La Lande, Daniel Angel (TMT) and Aliya Sanders.

Covington advised Verizon with Miranda Cole, Tom Barnett and Jim O’Connell (Antitrust)

Skadden advised Yahoo with Marc Packer, Michael Mies, Thad Hartmann (M&A), Michael Hoffman (Fund management), David Rievman, Thomas Wood (Tax) and Joseph Yaffe (Executive compensation).
Wilson Sonsini advised Yahoo with Larry Sonsini, Michael Ringler, Bradley Finkelstein and Douglas Schnell (M&A) and John Aguirre (Employee Benefits and Compensation).

Weil advised Yahoo with a team including Karen Ballack and Christopher Cox (IP&IT).
Cravath advised Yahoo’s board and strategic review committee with Faiza J. Saeed and Eric L. Schiele.

Goldman Sachs & Co., J.P. Morgan Securities LLC and PJT Partners are acting as financial advisers to Yahoo, its board and the strategic review committee. Goldman Sachs and PJT Partners are being advised by Shearman & Sterling LLP M&A with Clare O’Brien and  Sean Skiffington.

Gross, Kleinhendler, Hodak, Halevy, Greenberg & Co. led the Israeli side of this complex transactions with a team including Chen Manzur, Yaniv Erlich, Elad Brauner, Guy Gershon, Maya Rivkind, Or Barzilai and Ido Mor-Haim.

 

Involved fees earner: Chen Manzur – Gross Kleinhendler Hodak Halevy Greenberg & Co.; Maya Rivkind – Gross Kleinhendler Hodak Halevy Greenberg & Co.; Yaniv Erlich – Gross Kleinhendler Hodak Halevy Greenberg & Co.; Elad Brauner – Gross Kleinhendler Hodak Halevy Greenberg & Co.; Guy Gershon – Gross Kleinhendler Hodak Halevy Greenberg & Co.; Miranda Cole – Covington & Burling; Thomas Barnett – Covington & Burling; James O’Connell – Covington & Burling; Larry Sonsini – Wilson Sonsini Goodrich & Rosati; Michael Ringler – Wilson Sonsini Goodrich & Rosati; Bradley Finkelstein – Wilson Sonsini Goodrich & Rosati; Douglas Schnell – Wilson Sonsini Goodrich & Rosati; John Aguirre – Wilson Sonsini Goodrich & Rosati; Faiza Saeed – Cravath Swaine & Moore; Eric Schiele – Cravath Swaine & Moore; Rashida La Lande – Gibson Dunn & Crutcher; Daniel Angel – Gibson Dunn & Crutcher; Aliya Sanders – Gibson Dunn & Crutcher; Karen Ballack – Weil; Christopher Cox – Weil; Steven Rosenblum – Wachtell, Lipton, Rosen & Katz; Edward Lee – Wachtell, Lipton, Rosen & Katz; Marc Packer – Skadden Arps Slate Meager & Flom; Michael Mies – Skadden Arps Slate Meager & Flom; Thad Hartmann – Skadden Arps Slate Meager & Flom; Michael Hoffman – Skadden Arps Slate Meager & Flom; David Rievman – Skadden Arps Slate Meager & Flom; Thomas Wood – Skadden Arps Slate Meager & Flom; Joseph Yaffe – Skadden Arps Slate Meager & Flom; Clare O’Brien – Shearman & Sterling; Sean Skiffington – Shearman & Sterling;

Law Firms: Gross Kleinhendler Hodak Halevy Greenberg & Co.; Covington & Burling; Wilson Sonsini Goodrich & Rosati; Cravath Swaine & Moore; Gibson Dunn & Crutcher; Weil; Wachtell, Lipton, Rosen & Katz; Skadden Arps Slate Meager & Flom; Shearman & Sterling;

Clients: Goldman, Sachs & Co.; Yahoo!; Verizon Communications; PJT Partners;

 

 

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Author: Ambrogio Visconti