Whitbread’s £2 Billion Return Of Capital

Ashurst advised Morgan Stanley and J.P. Morgan as joint financial advisers in relation to the proposed return of capital of up to £2 billion to shareholders of Whitbread plc by way of a tender offer.

The proposed return of capital is conditional upon Whitbread shareholder approval. A circular setting out details of the tender offer is expected to be published by Whitbread today.

The Ashurst team was led by corporate partner Karen Davies (Picture), assisted by senior associate Harry Thimont and associate Hayley Gow. Partner Eric Stuart, assisted by senior associate Rob Thurlow, is providing US securities law advice. Partner Nicholas Gardner provided tax advice.

Whitbread was advised by Slaughter and May.

Involved fees earner: Karen Davies – Ashurst; Nicholas Gardner – Ashurst; Hayley Gow – Ashurst; Eric Stuart – Ashurst; Harry Thimont – Ashurst; Robert Thurlow – Ashurst;

Law Firms: Ashurst;

Clients: JP Morgan; Morgan Stanley;