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.