Steel pipe manufacturer PAO TMK (TMK) announced on December 18, 2019 that the US Department of Justice closed its investigation of Tenaris’s proposed acquisition of IPSCO Tubulars, Inc. from TMK. The proposed acquisition had been entered into on March 22, 2019 pursuant to a Stock Purchase Agreement between TMK and a wholly owned subsidiary of Tenaris. TMK completed the transaction on January 2, 2020.
Latham served as antitrust and M&A counsel for TMK and IPSCO in the transaction. The antitrust work was led by Washington, D.C. partners Jason Cruise, Michael Egge and Maggy Sullivan and counsels Alan Devlin and Peter Todaro, with associates Carla Weaver, Zoe Hutchinson, Doug Tifft, Andrew Molina, Peter Viola, and Brittany Bruns. The M&A work was led by Houston partners Ryan Maierson and John Greer, with associates Ryan Lynch, Patrick Sanford, Clayton Heery, and Caroline Ellerbe. Moscow partner Mikhail Turetsky and counsel Yulia Dementieva advised on Russian law matters.