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Advent International to acquire Laird for GBP1bn

Law firm Paul Hastings has acted for Goldman Sachs and Citigroup as arrangers on financing for the recommended public-to-private GBP1 billion acquisition of Laird by Advent International.

AI Ladder Limited (Bidco) (a wholly-owned indirect subsidiary of funds managed by Advent International Corporation) and UK electronics and technology business Laird reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Laird by Bidco.


 
The Acquisition is to be effected by means of a scheme of arrangement under Part 26 of the Companies Act. The Acquisition values the entire issued ordinary share capital of Laird at approximately GBP1 billion on a fully diluted basis.
 
The Paul Hastings team was led by London partner Luke McDougall together with partners Richard Kitchen (London), Shekhar Kumar (New York) and Michael Baker (New York) and senior associate Lauren Winter (London).
 

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