Legal Titans Power the Cross-Border Deal
A web of elite law firms is steering the complex multinational acquisition.
Freshfields Bruckhaus Deringer LLP is leading for Cicor, with Baker McKenzie serving as its Swiss legal adviser, under partner Matthias Courvoisier, alongside Susanne Liebel-Kotz and Manuel Meyer.
On the TT Electronics side, Allen Overy Shearman Sterling is advising the company, with Schellenberg Wittmer as its Swiss counsel.
The deal still requires regulatory and merger approvals across the U.K., Australia, Germany, Mexico, and the U.S., as well as foreign investment clearances in the U.K., France, Italy, and the U.S.
TT Board Backs the Offer After Rejecting Rival Bid
TT’s board announced it would “unanimously recommend” Cicor’s offer, a stark contrast to its earlier rejection of a £248.6 million bid from Volex PLC in November, which it claimed “fundamentally undervalued” the company’s potential.
Cicor has also secured support from Aberforth Partners LLP, a key TT shareholder holding about 10% of shares, through a non-binding letter of intent.
