Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised Allegro Funds (Allegro) on its off-market takeover bid of ASX-listed law firm Slater & Gordon (ASX:SGH).
The off-market takeover bid for 100% of the ordinary shares in Slater & Gordon, at A$0.55 per share, was unanimously recommended by the Slater & Gordon board in March. The offer successfully closed and Slater & Gordon was delisted in late April.
Allegro is Australia’s most-awarded team in the turnaround, special situations and transformation investing space. The firm has a successful track record of partnership with management teams and building great businesses to position them for sustained long-term growth.
Led by partners Adam Foreman, Michael Catchpoole and Chris Allen, Corrs advised Allegro on all aspects of the structure and execution of the takeover bid. The team was supported by partners Sandy Mak, Ian Dallen, James North and other experts from across the firm’s corporate, restructuring, property, employment, financial sponsors and telecommunications, media and technology practices.
Commenting on the matter, partner Adam Foreman said: “We are pleased to advise Allegro on its Slater & Gordon bid and debt and equity acquisition, which represented its first public M&A transaction. As a complex deal with a novel structure, involving the acquisition of both debt and equity, the bid required expertise and input from across a large team at Corrs.”
Partner Chris Allen added: “Allegro’s track record in partnership and transformational investments speaks for itself. As a long-term client, we are delighted to support Allegro on this transaction (the first of its type for the fund) and Allegro’s growth plans for Slater & Gordon.”