Cartel Digest


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Intapp Acquires DealCloud

Shearman & Sterling advised Intapp, a global provider of software and services to professional services and capital markets professionals, on its acquisition of DealCloud. Intapp with DealCloud will offer a cloud-based client life cycle platform that will manage all phases of client relationships through the professional and financial services transaction ecosystem.

KMG Chemicals’ $1.6 Billion Acquisition by Cabot Microelectronics

Shearman & Sterling is advising KMG Chemicals on its acquisition by Cabot Microelectronics Corporation for approximately $1.6 billion in a cash and stock merger transaction. The combined company is expected to have annual revenues of approximately $1 billion and approximately $320 million in EBITDA, including synergies, extending and strengthening Cabot Microelectronics' position as one of the leading suppliers of consumable materials to the semiconductor industry. The company will also be a leading global provider of performance products and services for improving pipeline operations and optimizing throughput.

Knauf’s $7 Billion Acquisition of USG

Shearman & Sterling acted as the M&A counsel to Gebr. Knauf KG in connection with its $7 billion acquisition of USG Corporation. The combined company will have global manufacturing and sales operations for gypsum wall board, ceiling products and fiberglass insulation with approximately 36,000 employees around the world.

Sale of SUSPA GmbH

Shearman & Sterling advised the shareholders of SUSPA GmbH on the sale of the company to Mr. Pascal Vanhalst. The transaction is expected to close at the end of June 2018.

Textron Inc.’s Tools & Test Acquisition by Emerson

Shearman & Sterling advised industrial conglomerate Textron on the sale of its Tools and Test Business (“Tools & Test”) to Emerson, a global technology and engineering company, for approximately $810 million.  The acquisition, joined with Emerson’s Ridge Tool Company, creates a global $1 billion professional tools business with the broadest offering for mechanical, electrical and plumbing contractors. The closing of the transaction is subject to the satisfaction of customary closing conditions, including the receipt of regulatory approvals.

Shearman & Sterling Shares Win for Litigation of the Year – Cartel Defense at the GCR Awards

Shearman & Sterling, together with counsel representing other defendants in the ongoing U.K. air cargo follow-on litigation, received Litigation of the Year – Cartel Defense award from Global Competition Review (GCR) for its work on behalf of Cargolux Airlines. This award is an annual celebration of “creative, strategic and innovative litigation on behalf of a defendant in a private action for cartel damages” over the past year. The 2018 GCR Awards ceremony was, held in Washington, DC on April 10.

Shearman & Sterling Announces Matthew Readings as London Office Managing Partner

Shearman & Sterling is pleased to announce that Matthew Readings will take over as London Office Managing Partner, effective Wednesday, April 11. Matthew will work closely with EMEA Regional Managing Partner Marwan Elaraby, our other Regional Managing Partners and Senior Partner Dave Beveridge. He succeeds Nick Buckworth, who will continue in full-time practice and focus on his role as Global Head of Finance.