A&O Shearman

Our sponsor side leveraged finance team advised Providence Equity Partners (“Providence”), on the financing for its acquisition of Tax Systems from Bowmark Capital. Tax Systems is a leading specialist provider of software and solutions which digitize the tax compliance process – enabling tax professionals to automate workflows, enhance compliance, mitigate risk and generate valuable insights from their tax function. This acquisition will support Tax Systems' continued platform expansion and innovation, targeting new tax and regulatory compliance solutions in existing and new geographies. The team was led by partner Nick Hallam and associate Jack Mellett. Discover more here: https://lnkd.in/enE5h_Kq #AOShearman

LPL Financial Holdings Inc. has announced its acquisition of Commonwealth Financial Network, the largest privately-held independent wealth management firm in the U.S., for USD2.7 billion. Commonwealth Financial, headquartered in Waltham, Massachusetts, provides integrated business solutions and services to approximately 2,900 financial advisors who manage around USD285bn in brokerage and advisory assets. “We are delighted to have supported LPL Financial in its acquisition of Commonwealth Financial, two exceptional client-centric wealth management companies,” said M&A partner Robert Cardone. “The work of the A&O Shearman team on this transaction illustrates the depth and versatility of the firm’s talented corporate practitioners.” The cross practice team advising LPL Financial was led by M&A of counsel Stephen Besen and partner Bobby Cardone, alongside associate Aaron Swartzman. With support from antitrust partner Benjamin Gris, financial services regulatory partner Hilary Sunghee Seo, tax counsel John Hibbard, debt finance partner Gus Atiyah and capital markets partner Ryan Robski. Get an in depth look of the broader team involved and transaction here: https://lnkd.in/epNH6Wbk #AOShearman

Congratulations to the entire team on the upcoming publication of the fourth edition of 'Fuller on The Law and Practice of International Capital Markets'! This updated edition is a testament to the dedication and expertise of our Global Financial Markets practice. The comprehensive coverage and the addition of new chapters on emerging areas like digital bonds reflect our commitment to staying at the forefront of legal and market developments. Well done to everyone involved.

Do the Commissions' Omnibus proposals fundamentally change the #CS3D? In our latest bulletin, we explore whether the #Omnibus Package will change diligence obligations for in-scope companies and what the guidance is now, as preparations continue. Read more here: https://lnkd.in/eixMezNU #AOShearman #Sustainability

In our March edition of Antitrust in focus, we highlight the findings from our analysis of global antitrust enforcement trends and comment on (even more) U.K. merger control regime developments, new UAE merger filing thresholds, proposals for Dutch call-in powers, and Germany’s first use of its new competition tool. We also examine the EC’s FSR guidelines consultation and its approach to antitrust and foreign investment in the Clean Industrial Deal. Read more here: https://lnkd.in/evJwQHwb #AOShearman

Happy Eid Al-Fitr!   As we come together to celebrate Eid Al-Fitr, we wanted to extend our warmest wishes to all our friends, and colleagues around the world. May this special occasion bring peace, happiness, and prosperity to you and your loved ones. Wishing everyone a blessed and joyous Eid filled with love, laughter, and memorable moments. Eid Mubarak! #AOShearman #EidMubarak

It was great to welcome clients from around the world to our M&A Academy this week in London. With 56 attendees from 50 organizations and 15 countries, the event featured a team of speakers from across our network providing invaluable insights into the ever-evolving M&A landscape. The Academy covered a broad range of topics, including running a successful auction, navigating the regulatory landscape, global trends in private M&A, specialist traps in M&A, the impact of tariffs and export controls, the use of artificial intelligence in M&A, and litigators’ top tips for avoiding M&A disputes. Beyond the sessions, the event also provided a fantastic opportunity for our clients to network with their peers and our team of experts. Key insights included: • M&A markets have been unsettled over the last couple of months. • There are plenty of thorny issues on the regulatory front that need careful consideration. • The use of AI in M&A processes is rapidly increasing. Thank you to everyone who attended, we look forward to continuing these important conversations and collaborations. #AOShearman #MergersAndAcquisitions

The energy sector is evolving rapidly. Hitachi Energy India Limited’s recent INR25.2 billion Qualified Institutions Placement (QIP) marks a pivotal moment for the company. This capital raise not only provides the necessary funds for expansion but also underscores the growing demand for advanced energy solutions in the region. As the sector shifts towards sustainable and innovative technologies, Hitachi Energy India Limited is well-positioned to capitalize on these emerging opportunities. Our team was led by partners Daniel Mitz, Christopher Forrester, Pallavi Gopinath Aney and Kyungwon (Won) Lee and comprised Rami Marginean, Nabil Shadab, Shinjan Alok, and Derek Perriam. Read more here https://lnkd.in/eahbjYAy #AOShearman #EnergySector #Indianequitymarkets

The successful USD11.5 billion restructuring of Shimao Group Holdings stands as a testament to the power of strategic collaboration and innovative problem-solving. This achievement, facilitated through a court-sanctioned Hong Kong scheme of arrangement, highlights the critical role of building inter-creditor consensus in navigating complex financial challenges. Shimao, a major player in the Chinese real estate sector, faced significant operational disruptions due to the COVID-19 pandemic and the broader distress in Mainland China's real estate market. The restructuring process, which spanned over three years, underscores the importance of resilience and adaptability in the face of unprecedented challenges. The core deal team was led by partner Viola Jing, with support from Ian Chapman, Leona Healey, Jack Kwan and Tomson Pong. Read more about the deal here https://lnkd.in/ecMPqCrD #AOShearman #Finance #Restructuring

We advised The Dow Chemical Company, a subsidiary of Dow Inc., in connection with Dow’s USD1bn bond offering and concurrent cash tender offer to purchase certain of its debt securities and certain debt securities of Rohm and Haas Company and Union Carbide Corporation, each a subsidiary of Dow. Proceeds from the bond offering were used to finance the tender offer. Dow is one of the world’s leading materials science companies, serving customers in high-growth markets such as packaging, infrastructure, mobility and consumer applications. Dow operates manufacturing sites in 30 countries and employs approximately 36,000 people. In 2024, Dow delivered sales of approximately USD43bn. Capital markets partners Richard Alsop and Erika Kent led the team alongside associates Ilya Mamin and Danish Hyder and law clerk Joseph Tambasco, with additional cross-practice support provided by the wider teams. Get an in depth look at the broader team involved and the transaction here: https://lnkd.in/eQrX9AnK #AOShearman