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International firm scoops Australian deal
AUSTRALIAN PROVIDER of integrated logistic services, Toll Holdings Ltd, went international with its recent HK$2.24 billion ($307 million) takeover of BALtrans Holdings Ltd, taking on Clifford…
Lawyers Weekly
AUSTRALIAN PROVIDER of integrated logistic services, Toll Holdings Ltd, went international with its recent HK$2.24 billion ($307 million) takeover of BALtrans Holdings Ltd, taking on Clifford Chance as its legal adviser.
The Clifford Chance team in Hong Kong was led by partner and head of M&A Asia, Roger Denny. He was assisted by counsel Terence Foo, senior associate Neeraj Budhwani and associates Derek Hung and Dianna Xiao.
“Toll used an innovative offer structure — a two-tiered offer price depending on the level of acceptances — and received over 99 per cent acceptances, allowing it to acquire 100 per cent,” Denny said.
