Latham & Watkins advises Grail in Acquistion by Illumina 

Illumina, Inc. (NASDAQ: ILMN) and GRAIL, a healthcare company whose mission is focused on multi-cancer early detection, announced that they have entered into a definitive agreement under which Illumina will acquire GRAIL for cash and stock consideration of $8 billion upon closing of the transaction. In addition, GRAIL stockholders will receive future payments representing a tiered single digit percentage of certain GRAIL-related revenues. The agreement has been approved by the Boards of Directors of Illumina and GRAIL.

Latham & Watkins LLP represents GRAIL in the transaction with an M&A deal team led by Los Angeles partner Alex Voxman and associate Andrew Clark, with assistance from Century City partner David Zaheer, Los Angeles counsel Brian Duff, and associates Jason Kass, Eduard Grigoryan, Timothy Day, Tess Bloom, Natalie Robertson, and Briana Cornelius. Advice was also provided on capital markets matters by San Diego partner Cheston Larson, Bay Area partner Brian Cuneo, and San Diego counsel Christopher Geissinger; on tax matters by New York partner Lisa Watts, with associate Eric Kamerman; on employee benefits and compensation matters by Los Angeles partner Larry Seymour and Bay Area partner Julie Crisp, with associate Jordan David; on antitrust matters by Washington, D.C. partner Michael Egge and Washington, D.C. counsel Patrick English, with associate Barrett Tenbarge; on intellectual property matters by Bay Area partner Christopher Hazuka, with associate Robert Yeh; and on FDA regulatory matters by Washington, D.C. partner Elizabeth Richards.

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U.S. legal/tech provider Elevate acquires NewLaw firm Cognatio in HK

Elevate, a U.S.-headquartered provider of legal and technology services has acquired Cognatio Law, a Hong Kong-based contract-lawyer firm.

Cognatio Law was founded in February last year by Lesley Hobbs, previously the head of client solutions in Hong Kong for Lawyers on Demand together with Tim Fawcett, formerly the interim COO of boutique family law firm CRB. Elevate provides consulting, technology, tech-enabled managed services and flexible lawyering support to the legal sector. ‘

It recently also acquired legal AI technology consultancy LexPredict, contract lifecycle management provider Sumati Group, UK NewLaw legal resourcing firm Halebury, and Yerra Solutions, company providing consulting, technology and managed services.

PH, Wachtell lead on Samsung’s $8 bln Harman buy

Paul Hastings has advised South Korean electronics major Samsung Electronics on its $8 billion acquisition of U.S. automotive tech company Harman International Industries, which was represented by Wachtell, Lipton, Rosen & Katz.

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According to Reuters, the transaction marks the biggest overseas acquisition ever by a South Korean company. The transaction highlights Samsung’s efforts to break into the high-barrier automotive industry where it has little track record and also marks a strategic shift for the electronics company, which has previously shunned big acquisitions.

The Paul Hastings team was led by the firm’s global M&A practice chair Carl Sanchez and Daniel Kim, head of the firm’s Korea corporate practice.Paul Hastings has also advised on previous Samsung deals including the acquisition of luxury appliance brand Dacor, and Corning’s fiber optics business.

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US, UK and Dutch heavyweights lead on Qualcomm’s $47bn acquisition

A number US, UK and Dutch heavyweights have won work on Qualcomm’s $47bn (£38.6bn) acquisition of NXP Semiconductors.

Paul Weiss Rifkind Wharton & Garrison advised Qualcomm on the acquisition, with new corporate star Scott Barshay providing M&A advice alongside partner Steve Williams and tax partner Jeff Samuels.

Barshay’s old firm Cravath Swaine & Moore also won work on the deal, providing finance advice from partners Geroge Zobitz and Scott Bennett. Partners Christine Varney and Yonaten Even worked on antitrust matters.

Allen & Overy advised Qualcomm in Amsterdam, with a team led by corporate partner Christiaan de Brauw. Other team members included tax partner Godfried Kinnegim and corporate partner Joyce Leemrijse.

DLA Piper partners Jay Rains, Doug Rein and Jeff Baglio acted as legal counsel to Qualcomm’s board in the US, while Shearman & Sterling advised Qualcomm on competition law aspects of the acquisition. The Brussels team was led by partners Miguel Rato and Stephen Mavroghenis.

Meanwhile, Sullivan & Cromwell partner Stephen Kotran represented Goldman Sachs as Qualcomm’s financial adviser.

Skadden Arps Slate Meagher & Flom was on hand for the target NXP – a Dutch semiconductor manufacturer. Skadden’s team was led by New York partner Allison Schneirov, who was supported by partners Laura Kaufmann Belkhayat, Kenton King and Alexandra McCormack.

Executive compensation and benefits matters were handled by partner Regina Olshan, while partners Maria Raptis and Steven Sunshine advised on antitrust issues. Partners Ingrid Vandenborre and Gavin White worked on EU competition law and tax advice respectively.

Dutch firm De Brauw Blackstone Westbroek also provided M&A advice, with a team led by partners Arne Grimme and Reinier Kleipool. Tax advice was handled by partner Wiebe Dijkstra.

Qatalyst Partners served as NXP’s financial adviser and sought advice from Jones Day London partner Ferdinand Mason, San Francisco partner Steve Hibbard, Cleveland partner James Dougherty and Silicon Valley partner Daniel Mitz.

The deal will see Qualcomm acquire all of shares of NXP for approximately $47bn. The combined company is expected to have revenues of more than $30bn.