News & Events 09.04.24 Blackstone to Acquire AirTrunk in A$24 Billion Transaction The Firm is representing Blackstone and the buyer consortium formed with the Canada Pension Plan Investment Board in connection with the acquisition of AirTrunk, a leading Asian data center operator, for an implied enterprise value of A$24 billion (US$16.1 billion). This represents Blackstone’s largest ever investment in the Asia Pacific region. AirTrunk is the largest data center platform in the Asia Pacific region, with a sizeable presence in Australia, Japan, Malaysia, Hong Kong, and... The Firm is representing Blackstone and the buyer consortium formed with the Canada Pension Plan Investment Board in connection with the acquisition of AirTrunk, a leading Asian data center operator, for an implied enterprise value of A$24 billion... The Firm is representing Blackstone and the buyer consortium formed with the Canada Pension Plan Investment Board in... Read more... 08.14.24 Mars to Acquire Kellanova Simpson Thacher is representing Mars, Incorporated in connection with the financing aspects of its announced acquisition of Kellanova, a leading company in global snacking, international cereal and noodles, North American plant-based foods and frozen breakfast foods. Under the terms of the agreement, Mars will acquire all outstanding equity of Kellanova for $83.50 per share in cash, representing a total enterprise value of $35.9 billion. Mars intends to fully finance the acquisition through a... Simpson Thacher is representing Mars, Incorporated in connection with the financing aspects of its announced acquisition of Kellanova, a leading company in global snacking, international cereal and noodles, North American plant-based foods and... Simpson Thacher is representing Mars, Incorporated in connection with the financing aspects of its announced acquisition... Read more... 07.24.24 Simpson Thacher Represents KKR in Joint Venture with T-Mobile to Acquire Metronet Simpson Thacher is representing global investment firm KKR in its establishment of a joint venture (“JV”) with T-Mobile that will acquire Metronet, including its broadband infrastructure, rapidly growing residential fiber business operations and existing customers. The transaction is expected to close in 2025, subject to customary closing conditions and regulatory approvals. At closing, T-Mobile is expected to invest approximately $4.9 billion to acquire a 50% equity stake in the JV and 100% of... Simpson Thacher is representing global investment firm KKR in its establishment of a joint venture (“JV”) with T-Mobile that will acquire Metronet, including its broadband infrastructure, rapidly growing residential fiber business operations and... Simpson Thacher is representing global investment firm KKR in its establishment of a joint venture (“JV”) with T-Mobile that... Read more... 07.08.24 Paramount to Combine with Skydance The Firm is representing Paramount Global (“Paramount”) in connection with its proposed merger with Skydance Media, LLC (“Skydance”). The terms of the agreement value the combined company at an enterprise value of approximately $28 billion. Completion of the transaction is subject to regulatory approvals and customary closing conditions, and the transaction is expected to close in 2025. Paramount is a leading global media, streaming and entertainment company that creates premium content and... The Firm is representing Paramount Global (“Paramount”) in connection with its proposed merger with Skydance Media, LLC (“Skydance”). The terms of the agreement value the combined company at an enterprise value of approximately $28 billion.... The Firm is representing Paramount Global (“Paramount”) in connection with its proposed merger with Skydance Media, LLC... Read more... 07.01.24 New Mountain Capital Completes $15.4 Billion Fundraising Simpson Thacher advised New Mountain Capital in the formation and raising of New Mountain Partners VII, L.P. Fund VII closed at its hard cap of $14 billion in third party capital commitments, and at $15.4 billion in aggregate capital commitments, including the capital commitments from New Mountain and its professionals. New Mountain Capital is a leading growth-oriented alternative investment firm headquartered in New York. The firm currently manages private equity, strategic equity, credit and... Simpson Thacher advised New Mountain Capital in the formation and raising of New Mountain Partners VII, L.P. Fund VII closed at its hard cap of $14 billion in third party capital commitments, and at $15.4 billion in aggregate capital commitments,... Simpson Thacher advised New Mountain Capital in the formation and raising of New Mountain Partners VII, L.P. Fund VII closed... Read more... 06.20.24 Simpson Thacher Secures Denial of Class Certification in Suit Against M&T Bank On June 13, 2024, the Firm secured a victory for client M&T Bank Corp. in the United States District Court for the District of Delaware in connection with a proposed investor class action related to the $3.7 billion merger between M&T Bank and Hudson City Bancorp Inc. U.S. Circuit Judge Evan Wallach, sitting by designation in the District of Delaware, denied plaintiffs’ renewed motion for class certification, which purportedly adduced new evidence in support of their theory of class-wide... On June 13, 2024, the Firm secured a victory for client M&T Bank Corp. in the United States District Court for the District of Delaware in connection with a proposed investor class action related to the $3.7 billion merger between M&T Bank and... On June 13, 2024, the Firm secured a victory for client M&T Bank Corp. in the United States District Court for the District... Read more... 02.27.24 EQT Announces Successful Closing of EQT X at €22 billion Simpson Thacher advised EQT in connection with the establishment of its tenth buyout fund, EQT X. EQT announced that the fund raised €22 billion (USD $24 billion), exceeding its €20 billion target and hitting its hard cap, having received commitments from a broad range of global investors including pension and sovereign wealth funds, asset managers, and the private wealth segment. EQT X is nearly 40% larger than its 2021 predecessor fund, EQT IX, which closed in 2021 at €15.6 billion. EQT was... Simpson Thacher advised EQT in connection with the establishment of its tenth buyout fund, EQT X. EQT announced that the fund raised €22 billion (USD $24 billion), exceeding its €20 billion target and hitting its hard cap, having received... Simpson Thacher advised EQT in connection with the establishment of its tenth buyout fund, EQT X. EQT announced that the... Read more... 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