Goodwin’s Public M&A team advised on five prominent deals in the real estate and tech sectors announced over the last several weeks. The transactions, each over $1.0 billion, were widely reported in the media and showcases Goodwin’s cross-industry capabilities and dynamic growth in the ever-evolving public M&A market.
- Advised on the $59 billion combination of telecommunications providers Sprint (NYSE: S) and T-Mobile, serving as legal counsel to the independent Transaction Committee of the Board of Directors of Sprint. Announced on April 29, the all-stock transaction, which is subject to regulatory approval, is expected to close by the first half of 2019. The team was led by partners Stuart Cable and Mark Opper and also included partners Howard Cubell, Deborah Birnbach, Andrea Agathoklis Murino, Paul Jin, Caroline Bullerjahn, Richard Matheny, and associates Morgan Mordecai, and Stephanie Richards.
- Represented Brookfield Property Partners (NASDAQ: BPY), one of the world’s largest commercial real estate companies, in its acquisition of the remaining 66% of GGP not already owned by Brookfield and its affiliates in a transaction valued at $15.3 billion. The transaction is scheduled to close early in the third quarter of 2018. The team was led by partners Gil Menna and Mark Opper and included partners Daniel Adams, David Roberts and associates Adam Romig, Chris Versfelt and Caitlin Tompkins.
- Also on April 29, the team guided logistics real estate company DCT Industrial Trust (NYSE: DCT) in its $8.4 billion sale to Prologis, a global leader in logistics real estate with a $35 billion market capitalization. The stock-for-stock transaction is expected to close in the third quarter of 2018. The team was led by partners John Haggerty and Daniel Adams and included partners Kelsey Lemaster, Edward Glazer, Brad Smith, counsel Nathan Brodeur and associates Eryn Mathews, William Goldberg, Matthew Schoenfeld, Matthew Feuerman and John Stern.
- In a $1.85 billion transaction announced in mid-April, Goodwin represented real estate investment trust Gaming and Leisure Properties (NASDAQ: GLPI) as it teamed with Eldorado Resorts to acquire Tropicana Entertainment Inc. The transaction is subject to regulatory approval and is expected to close by the end of 2018. The team was led by partners Yoel Kranzand Jacqueline Mercier, and included corporate associates Tobias Schad, Jeremy Simon, Rob Intile and Stephanie Richards. Goodwin’s real estate and leasing efforts were led by counsel Michael Litchman and associates Erin Claywell and Reade Everett, with assistance from counsel Nathan Brodeur. Goodwin’s tax team included partner David Patton and of counsel Ed Glazer.
- Represented the Special Committee of the Board of Directors of Globalstar (NYSE American: GSAT), a satellite voice and data services provider, in its $1.65 billion merger with FiberLight announced on April 25. FiberLight is controlled by the chairman of the board and chief executive officer of Globalstar. The transaction is expected to close in the third quarter of 2018. The team was led by partners Stuart Cable and Mark Opper and included partners Deborah Birnbach, counsel Ai Tajima and associates Morgan Mordecai, Nana Atsem and Tyler Vandeventer.