Four large law firms guide CD&R's $5.8bln deal to take Cornerstone private - Reuters.com
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(Reuters) - Kirkland & Ellis served as legal counsel to private equity firm Clayton, Dubilier & Rice (CD&R) in its $5.8 billion acquisition of Cornerstone Building Brands, which was represented by Sullivan & Cromwell.
New York-based CD&R, which already owned 49% of the four-year-old company, offered to buy the rest in February. North Carolina-based Cornerstone said Monday it had entered into an agreement to let CD&R take the company private.
Cornerstone's special committee of the board of directors, formed to consider CD&R's proposal, was represented by Wachtell, Lipton, Rosen & Katz.
Debevoise & Plimpton advised CD&R on its financing of the deal.
Kirkland said in a statement corporate partners David Klein, Kevin Mausert and Lukas Richards led the CD&R team, along with executive compensation partner Rohit Nafday, tax partner Mike Carew and litigation partner Matthew Solum.
The corporate team worked with CD&R last year on its acquisition of data analytics firm Cloudera, and Klein and Mausert represented Vera Whole Health, a portfolio company of CD&R, in its merger with Castlight Health.
The team for Cornerstone Building Brands was led by Sullivan & Cromwell's global M&A group head Melissa Sawyer and senior M&A partner Frank Aquila, along with executive compensation partner Heather Coleman, securities partner Catherine Clarkin and antitrust partner Renata Hesse, the firm said.
Sawyer worked with Cornerstone Building Brands on its $245 million acquisition of Cascade Windows, according to Sullivan & Cromwell.
Wachtell said Cornerstone's special committee of the board of directors was represented by partner Mark Gordon and included compensation partner Andrea Wahlquist, finance partner Josh Feltman, tax partner Deborah Paul and antitrust partner Christina Ma.
Debevoise & Plimpton finance partner Jeffrey Ross and capital markets partner Steve Slutzky advised CD&R on financial matters, according to the firm.
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source: https://www.reuters.com/legal/transactional/four-large-law-firms-guide-cdrs-58bln-deal-take-cornerstone-private-2022-03-07/
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