Deals In Brief

Freshfields Bruckhaus Deringer and Linklaters are advising on Saga’s planned USD3 million IPO, which is set to be the largest public offer of shares since the privatisation of Royal Mail. Freshfields is advising new client Saga on the transaction, with advice led by corporate partner Chris Mort. Meanwhile, Linklaters has taken a key role for the banks which include underwriters Citigroup, Bank of America, Credit Suisse, Goldman Sachs, JPMorgan Cazenove and UBS. Linklaters fielded a team including corporate partners Owen Clay and John Lane, and capital markets partner Patrick Sheil.

Cleary Gottlieb Steen & Hamilton and White & Case are advising on the USD13.4 billion acquisition of orthopaedic manufacturing company Biomet by Zimmer, the manufacturer of the ‘zimmer frame’. The acquisition will put an end to a planned IPO of Biomet, which was intended to raise funds to pay off the debt incurred by its owners, including Blackstone, KKR, TPG Capital and Goldman Sachs, when the company went private in 2007.

Sullivan & Cromwell are among a number of firms have stepped up to advise on the USD14.2 billion acquisition of Merck’s consumer care business by Bayer. Merck’s winning bid trumped a number of rival bidders, allowing the German-based pharmaceuticals giant to acquire a range of household consumer products including Coppertone, Dr Scholl’s foot health, and allergy brand Clarityn. German pharma giant Bayer turned to Sullivan & Cromwell on the acquisition.