August 05, 2021
Latham & Watkins is advising global investment bank Houlihan Lokey on its proposed acquisition of GCA Corporation (GCA), a company listed on the Tokyo Stock Exchange. The transaction will see the combined firm become one of the largest independent global M&A advisory firms with an expanded geographic reach in Asia and Europe.
Houlihan Lokey and GCA have announced they have entered into a definitive agreement under which Houlihan Lokey will commence a tender offer to acquire GCA for a total cash purchase price of approximately ¥65 billion, or approximately $591 million. Under the terms of the agreement, Houlihan Lokey will commence a tender offer to acquire all outstanding shares of GCA for ¥1,380 ($12.55) per share in cash, in addition to all stock options of GCA (priced to net out applicable exercise prices). The tender offer is expected to close on October 4, 2021.
Houlihan Lokey is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and valuation. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, the Middle East, and the Asia-Pacific region.
GCA is a global investment bank that provides strategic M&A and capital markets advisory services to growth companies and market leaders. Following completion of the acquisition, GCA will become a privately held company and no longer be publicly traded.
The core M&A deal team is led by Los Angeles partner Steven Stokdyk and Tokyo partners Ivan Smallwood and Hiro Takagi, with associates Takaki Sato in Tokyo and Joseph Porter in Los Angeles. Regulatory advice was provided by New York partner Stephen Wink, London partner Nicola Higgs and Singapore partner Farhana Sharmeen. Additional advice was provided by Bay Area antitrust partner Josh Holian, Washington D.C. securities partner Paul Dudek, Los Angeles tax partner Larry Stein, London associates Anna Lewis-Martinez and Ella McGinn and New York associates Naim O Culhaci and Jacqueline Rugart.