Achievements
Latham & Watkins advises the businesses and institutions that power the global economy.
We bring together world-leading talent, with deep sector knowledge and experience, to make our clients’ most ambitious goals a reality. In today’s highly complex and ever-changing world, Latham stands out as a steady market leader capable of assembling at a moment’s notice the exact right team across any set of jurisdictions to seamlessly respond to and execute on client needs.
This broad and diversified platform helps us anticipate and address any legal or business challenge anywhere in the world – with flawless execution. With a resilient culture imbued with a spirit of teamwork and innovation, Latham’s work at the cutting edge of commercial, financial, and legal innovation helps our clients thrive.
Our Work
Defending Oracle's US$9.4 Billion NetSuite Deal
Latham successfully defended Oracle’s Larry Ellison and Safra Catz in one of the largest acquisitions to face a stockholder challenge through trial in the Delaware Court of Chancery. The stockholder derivative suit brought by certain Oracle investors challenged Oracle’s 2016 US$9.4 billion acquisition of NetSuite, Inc, alleging that Mr. Ellison used his control of Oracle — with the assistance of Ms. Catz, Oracle’s CEO — to cause Oracle to acquire and overpay for NetSuite, which Mr. Ellison co-founded and was a substantial investor. At trial, Latham demonstrated that plaintiffs’ claims were meritless and Vice Chancellor Sam Glasscock III issued a 101-page opinion in favor of Mr. Ellison and Ms. Catz.
Magellan Midstream Partners’ US$18.8 Billion Acquisition
Houston-based corporate deal team represents Magellan Midstream Partners on second-largest US public company merger in 2023 to date. Under the definitive merger agreement, ONEOK will acquire all outstanding units of Magellan in a cash-and-stock transaction valued at approximately US$18.8 billion including assumed debt, resulting in a combined company with a total enterprise value of US$60.0 billion.
Apollo’s €1 Billion Investment in Vonovia Portfolio
A Latham cross-border private equity real estate team advised Apollo, a global alternative asset manager, on its investment in a portfolio of high-quality real estate assets controlled by Vonovia, a leading European residential real estate company. Vonovia’s portfolio comprises more than 21,000 residential units valued at €3.3 billion on a debt-free and cash-free basis.
Virgin Orbit Chapter 11 Proceedings
Members of the firm’s Restructuring & Special Situations Practice represent the responsive space launch provider, Virgin Orbit, in its voluntary proceedings under Chapter 11 of the US Bankruptcy Code in the United States Bankruptcy Court in the District of Delaware in order to effectuate a sale of the business. With the support of Virgin Investments Limited in the form of debtor-in-possession (DIP) financing, Virgin Orbit intends to use the Chapter 11 process to maximize value for its business and assets.
Landmark Sports and Entertainment Merger
Latham represents Endeavor in the US$21+ billion merger between two world-renowned sports and entertainment brands, UFC and WWE. The deal will create a new publicly listed company when the transaction is expected to close in the second half of 2023.
The Next Great Enterprise Cloud Software Platform
A multidisciplinary Latham team advises Silver Lake, the global leader in technology investing, in the US$12.5 billion take-private acquisition of Qualtrics, the leader and pioneer of the experience management (XM) software category. The all-cash transaction will make Qualtrics an independent, privately held company positioned to drive category-defining innovation and efficient growth at scale on its path to becoming the next great enterprise cloud software platform.
Successful Activism Defense in Major Merger Agreement
Latham’s shareholder activism team represented IAA on company defense matters in connection with opposition by activist investors Ancora and Discerene Group in the Ritchie Bros. merger. IAA announced that its stockholders have adopted the previously announced merger agreement providing for its stock and cash acquisition by Ritchie Bros. Accordingly, all stockholder and regulatory approvals required to consummate the transaction have now been obtained.
Second-Largest Ever Healthcare Corporate Debt Issuance
A Latham corporate team represented Amgen Inc., one of the world’s leading biotechnology companies, in its US$24 billion senior notes offering, which will be used to fund Amgen’s acquisition of Horizon Therapeutics plc. The offering is the ninth-largest corporate debt issuance and second-largest healthcare corporate debt issuance in history, according to Dealogic.
Nissan’s New Framework Agreement With Renault Group
An international Latham team advised leading Japanese automotive group Nissan on the negotiation of the new framework agreement for the Renault-Nissan-Mitsubishi Alliance. The agreement includes a three-dimension program that focuses on high-value-creation operational projects, enhancing strategic agility that explores existing strategies in electrification and low-emission, and a rebalanced cross-shareholding and reinforced Alliance governance.
CAF’s Largest-Ever Bond Financing
Members of Latham’s Latin America, Capital Markets, and Financial Institutions Practices represented Latin American development bank Corporación Andina de Fomento (CAF) in its US$1.5 billion SEC-registered bond financing, its largest ever. CAF is a multilateral financial institution that seeks to promote economic development within Latin America and the Caribbean and has been instrumental in financing its shareholder countries’ recovery efforts since the beginning of the COVID-19 pandemic. Since 2020, the firm has counseled CAF in more than 40 bond offerings exceeding US$7.5 billion in proceeds.
Across-the-Board Win For Automobile Mirror Maker SMR
A jury in Grand Rapids, Michigan, delivered an across-the-board win to our client, automobile mirror maker Samvardhana Motherson Reflectec Group Holdings Ltd., which was accused of infringing patents for a side mirror developed to eliminate blind spots.
Energizing Mexico
Latham’s Latin America Practice represented TC Energía Mexicana’s joint global coordinators, lead arrangers, and bookrunners in a US$2.3 billion credit facility that supports the Mexican government’s priorities to supply natural gas to the central and southeast regions of Mexico. The credit facility will go toward the development of the TGNH Southeast Gateway Pipeline, a US$4.5 billion offshore natural gas pipeline project.
An Aquatic Victory
Latham litigators successfully won their motions for summary judgement on behalf of client Fédération Internationale de Natation (FINA), now World Aquatics, in a pair of high-profile antitrust lawsuits brought by the International Swimming League and a putative class of elite swimmers. Plaintiffs alleged that FINA leveraged its position as the global governing body for aquatic sports to prevent the creation of a top-tier professional swimming league. The California federal court sided with Latham’s argument that World Aquatic's governing rules and alleged conduct did not unreasonably restrain trade.
Hong Kong Airlines Ready for Take Off
A cross-border team advised Hong Kong Airlines on its successful US$6.2 billion debt restructuring. The restructuring will restore the company to financial stability by addressing over 90% of the airline’s financial and operating liabilities, bringing in a new equity investment of HK$3 billion, and streamlining the company’s air fleet and corporate structure. This is the first time a parallel Hong Kong scheme of arrangement and UK restructuring plan have been approved by the courts in the two jurisdictions to effect the restructuring of Hong Kong, PRC, and English law-governed debts.
Creating a Global Production Platform
A Latham global team advised leading independent premium content studio in Europe, Mediawan, in its partnership with Brad Pitt’s storied Hollywood production company, Plan B Entertainment. The deal gives Mediawan a significant stake in Plan B, expanding beyond its core European markets into the US.
Landmark Transportation Transaction
Latham advises American Triple I as part of JFK Millennium Partners’ US$4.2 billion deal to develop new international Terminal 6 anchoring JFK International Airport’s north side. JMP is a private company composed of Vantage Airport Group, American Triple I, RXR, and JetBlue. The new Terminal 6 development will feature a 1.2 million square foot terminal, 10 new gates, and more than 100,000 square feet of dining and shopping, airline lounges, and recreational spaces.
Historic Conservation-Focused Forest Investment
A multidisciplinary team advised a consortium investor in connection with Blue Source Sustainable Forests Co.'s historic acquisition of 1.7 million acres of timberland. The deal was valued at approximately US$1.8 billion, and represented one of the largest private conservation-focused forest investments in US history.
Market-Defining Technology Financing
A Latham financing team’s advice to Eventbrite, Inc. in a groundbreaking, tailored financing package with leading investment firm Francisco Partners has been profiled by Private Debt Investor as one of the Top 10 transactions defining private debt. In May 2020, Eventbrite, a global self-service ticketing and experience technology platform, needed capital as the Covid-19 pandemic leveled the live event industry. Francisco Partners provided US$225 million senior secured term loan facility and purchased 2.5% of outstanding common stock of Eventbrite.
Mexico’s First Private Marine Natural Gas Pipeline
Members of the firm’s Latin America Practice and Energy & Infrastructure Industry Group advised the joint global coordinators, lead arrangers, and bookrunners on the US$1.56 billion five-year term loan credit facility provided to Mexico’s first private marine natural gas pipeline. The pipeline is a strategic part of the country’s energy infrastructure, reinforcing the reliability of the Mexican natural gas network and bolstering access to low-cost natural gas.
US$4.6 Billion Going-Private
A Latham corporate deal team advised venture capital firm Elephant Partners in Vista Equity Partner's acquisition of KnowBe4, provider of the world’s largest security awareness training and simulated phishing platform. The deal is an all-cash transaction valued at approximately US$4.6 billion on an equity value basis.
Great River Hydro Sale
Latham advised Great River Hydro in its US$2 billion sale to Hydro-Québec. Great River Hydro owns 13 hydropower generating stations with a total installed capacity of 589 megawatts along New England’s Connecticut and Deerfield rivers in the states of Vermont, New Hampshire, and Massachusetts.
Supporting Take-Private of Nielsen
The firm advised a consortium composed of Evergreen Coast Capital Corp. and Brookfield Business Partners L.P. together with institutional partners, on the acquisition of Nielsen, a global leader in audience measurement, data, and analytics. The all-cash transaction is valued at approximately US$16 billion, including the assumption of debt.
A Major Antitrust Win in Paris
A Paris antitrust team secured a significant victory for client Orange. A decision by the Commercial Chamber of the French Court of Cassation in Paris rejected the appeal brought by Cambio regarding alleged anticompetitive practices of Orange during the liberalization of the internet market between 2001 and 2005.
Sweet Victory for U.S. Sugar
A cross-office team of Latham’s elite antitrust litigators successfully defended client U.S. Sugar against the U.S. Department of Justice Antitrust Division (DOJ) challenge to the Florida company’s acquisition of Imperial Sugar Co. Latham took the case from complaint to trial in less than five months. This historic victory over the DOJ comes just three weeks after a separate Latham antitrust trial team defeated the U.S. Federal Trade Commission for client GRAIL and its acquirer, Illumina.
Decisive Victory
Litigators Recognized for Defending US$9.4 Billion Oracle Deal
ALM spotlights partners Peter Wald and Blair Connelly for successfully defending Oracle’s Larry Ellison and Safra Catz in one of the largest acquisitions to face a stockholder challenge through trial in the Delaware Court of Chancery.
Read MoreSetting the Standard
Three Partners Named “Best of the Best” in Cyber Incident Response Work
Jennifer Archie, Tony Kim, and Serrin Turner again named to Cybersecurity Docket’s Incident Response 50 list for their ability to handle serious ransomware, advanced supply chain, or nation-state cyberattacks, impacting every major industry sector around the world.
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