Mergers + Acquisitions
Australia’s M&A environment is subject to rapid change and significant market scrutiny by regulators and increasingly sophisticated investors. Businesses need outstanding legal and strategic advice from the outset if they are to achieve their commercial objectives. We have proven experience in working effectively with key corporate regulators including the Australian Securities and Investments Commission, the Australian Securities Exchange and the Takeovers panel. Our innovative team is highly regarded for its competition and regulatory experience.
We are regularly retained to assist boards of public and private companies to navigate challenging issues that arise in complex and contested M&A transactions. We have extensive experience advising on cross border M&A and foreign investment into Australia. Our M&A lawyers also act for domestic and foreign clients on their bids for, and equity participation in, major infrastructure projects.
As our client, you will have the opportunity to meet every member of the team working on your deal. We work with you as part of your team, and with your financial and other advisors. Our M&A lawyers can then fully understand your needs to manage the risks throughout the deal process and ensure the best commercial outcomes are achieved within the right timeframe.
Our Mergers and Acquisitions services include:
- Executing and defending takeover bids, with substantial experience in proceedings before the Takeovers Panel.
- Implementing agreed mergers by scheme of arrangement.
- Complex share or asset acquisitions and divestitures, including cross-border transactions.
- Complex private equity structuring, including management and leveraged buy-outs.
- Obtaining FIRB approvals and ASX and ASIC waivers relevant to mergers or acquisitions.
- Advising investors, such as hedge funds, on takeover developments and strategies.
Our Mergers and Acquisitions experience includes advising:
- Afterpay on the acquisition of Afterpay by Square, Inc, by way of an all-scrip scheme of arrangement. The transaction values Afterpay at $39 billion and, on implementation, will be the largest public M&A deal in Australia’s history and the largest cross border fintech deal globally.
- OneVentures on its 55% secondary selldown of interests in human resources technology company Employment Hero. The transaction was part of the Series E funding round from New York based VC fund Insight Partners, valuing Employment Hero at $800 million.
- KKR on the proposed acquisition of a 55% interest in Colonial First State (CFS) and establishment of a joint venture with Commonwealth Bank of Australia, with the transaction valuing CFS at $3.4 billion.
- Westpac on the sale of its Vendor Finance business to Angle Finance, a portfolio company of Cerberus Capital Management.
- AB InBev on the $16 billion sale of Carlton & United Breweries to Asahi Group - the largest M&A transaction in Australia in 2019.
- GrainCorp on the $3.3 billion demerger of GrainCorp’s international malting business, United Malt.
- Infigen Energy on the $1.438 billion off market takeover battle for Infigen by UAC Energy and Iberdrola SA. Infigen is Australia's largest listed renewable energy generator.
- Coca-Cola Amatil on the joint acquisition with The Coca-Cola Company of a 45% equity stake in the Made Group.
- The Stars Group on its proposed $6 billion merger with Flutter Entertainment to create the world’s biggest online gaming group.
- DuluxGroup in relation to its $3.8 billion acquisition by Nippon Paint by scheme of arrangement.
- Quadrant Private Equity on the acquisition of QMS Media by scheme of arrangement.
- KKR on its investment in GreenCollar, a leading Australian environmental markets business - the first Australian investment by KKR’s US$1.3 billion Global Impact Fund.
- Mineral Resources on the US$1.3 billion sale of a 60% interest in the Wodgina lithium project to Albemarle Corporation.
- Quadrant Private Equity on the sale of a majority stake in APM to Madison Dearborn Partners for an enterprise value of $1.6 billion.
- Wesfarmers on the US$2.15 billion (plus other contingent payments) sale of its 13.23% stake in Quadrant Energy to Santos Limited alongside co-sellers Brookfield, Macquarie and AMB Holdings.
- BGH Capital Consortium on the $2.1 billion acquisition of Navitas by scheme of arrangement – the biggest private equity buy out by an Australian based PE firm.
- KKR on the $2 billion takeover of MYOB Limited by scheme of arrangement.
- Jacobs on the $4.6 billion sale of its energy, chemicals and resources group to WorleyParsons.
- TPG Capital on the $1 billion (enterprise value) acquisition of pet and vet care company Greencross.
- Harbour Energy on its $14.4 billion proposal to takeover Santos.
- GrainCorp on its successful defence of the $3.3 billion highly geared approach by Long-Term Asset Partners - financed by Goldman Sachs and Westbourne Capital.
- Telstra on the merger of Foxtel and Fox Sports.
- CPE Capital on the $1 billion sale of Accolade Wines to Carlyle.
- Qube Consortium on the $9 billion acquisition of Asciano.
- IOOF on the $975 million acquisition of ANZ’s One Path Pensions and Investments and aligned dealer groups businesses and its associated $539 million accelerated non-renounceable entitlement offer and share purchase plan.
- AB InBev on Australian aspects of its US$117 billion takeover of SAB Miller (CUB/Fosters), the largest takeover in the world in 2016.
- Investa Commercial Property Fund on the $3.35 billion battle for the ASX listed Investa Office Fund between Oxford Properties & Blackstone.
- PowAR Consortium (QIC, Future Fund, AGL) on its $3 billion acquisition of Tilt Renewables by scheme of arrangement. The acquisition represents the largest acquisition of a renewables portfolio in Australia, with a wide footprint, with operating and development assets in each of the National Electricity Market (NEM) regions and Western Australia.
- MIRA on the $2.6 billion acquisition of Bingo Industries by way of scheme of arrangement.
- MIRA and Aware Super on the $3.5 billion acquisition of Vocus Group by scheme of arrangement.
- Hollard Group on its acquisition of CBA’s general insurance business. As part of the acquisition, a 15-year strategic alliance will be established for the distribution of Hollard’s home and motor vehicle insurance products to CBA’s retail customers in Australia. The transaction includes a $625 million upfront consideration as well as additional investment from Hollard throughout the 15-year strategic alliance to enhance innovation and the customer experience.
- APN Property Group on its $320 million acquisition by Dexus by scheme of arrangement.
Awards + Recognition
G+T's Corporate team won Technology, Media, and Telecom M&A Legal Adviser of the Year and Private Equity Legal Adviser of the Year at the Mergermarket Australia M&A Awards 2021
Ranked Band 1 in Corporate/M&A.
Named Law Firm of the Year for Corporate Law.
Ranked Tier 1 in Corporate/M&A.
Named Law Firm of the Year for Corporate Law and for Private Equity Law.
G+T was awarded Best Law & Related Services Firm, Most Innovative Firm and Best Provider to Mining, Oil & Gas.
Ranked 1st Tier for Corporate Law.
G+T was named Law Firm of the Year (101-500 lawyers).
G+T was named Australian Firm of the Law.
G+T won Most Innovative Team in Asia-Pacific.
Named Law Firm of the Year for M&A Law.
Ranked Tier 1 in M&A.
Ranked an ‘Outstanding’ firm in the Asialaw Profiles 2019. Also ranked ‘Outstanding’ in M&A, Capital Markets and Private Equity.
At the start of the year, we forecasted that Australia might be in for a Roaring ‘20s of M&A. Well…it certainly has been roaring! We examine the transactions announced in the first half of 2021.
G+T has advised Afterpay Limited (ASX: APT) on the acquisition of Afterpay by Square, Inc., a NYSE-listed company operating in the payments space, by way of an all-scrip scheme of arrangement.
For more information on our Mergers and Acquisition services please complete the form to download our fact sheet.