Orrick, Herrington & Sutcliffe LLP’s M&A lawyers wrapped up a busy 2012, advising on three significant acquisitions for global companies at the end of the year.
An Orrick team, led by M&A partner Sam Haviland, counseled Microsoft in its acquisition of R2 Studios, a home-entertainment technology startup. R2 develops technology to distribute and display digital media on televisions, which Microsoft may use in connection with its Xbox video game system.
In the retail sector, Orrick advised Gap Inc. in its $130 million acquisition of Intermix, a multi-brand specialty retailer of luxury and contemporary women’s apparel and accessories. The transaction was Gap's first acquisition since 2008 when it acquired women's active apparel retailer Athleta. The team was led by capital markets partner Brett Cooper and included attorneys from multiple practice groups.
A cross-border Orrick team led by Mark Weeks, an M&A partner resident in Tokyo, which included attorneys from Tokyo, Paris, Dusseldorf, London, Milan, Rome and New York, advised U-Shin—one of Asia's largest producers of automotive access mechanisms—in its acquisition of Valeo's Access Mechanisms Business. The acquisition involves 12 plants in eight jurisdictions, including Asia, Europe and South America, and is valued at nearly $300 million. The deal, signed on November 30, will be finalized in March of 2013 once approved by the applicable regulatory authorities.
Earlier this year, Orrick also advised Yammer Inc., a leading provider of enterprise social networks, in its $1.2 billion all cash acquisition by Microsoft, as well as Instagram, a mobile photo-sharing network, in its acquisition by Facebook for $300 million in cash and approximately 23 million shares.