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Redflex acquired by NASDAQ-listed transportation tech group
KPMG Law has advised Redflex Holdings Limited (Redflex) on its acquisition by a NASDAQ-listed US-based transportation technology group.
Emma Musgrave
Firms: KPMG Law (Reflex); undisclosed (Verra Mobility).
Value: Approximately $152 million.
Area: M&A.
Key players: The KPMG Law team was led by head of corporate and M&A David Morris, supported by director Paul Mayson and solicitors Bree Taylor and Andrew Antoun.
Deal significance: Commenting on the deal, Mr Morris said: “The successful transaction valued Redflex at A$0.96 per share, representing a total acquisition price of approximately A$152 million.
“KPMG Law was legal adviser to Redflex on all aspects of the transaction, including navigating the necessary regulatory and court approval process,” noting that the team was delighted to advise Redlex on completing the “complex cross-border deal in the challenging COVID-19 environment”.
“This transaction had various twists and turns,” he said. “These included not only a price increase prior to the second court hearing but also obtaining approval from the Federal Court of Australia at the second court hearing to turn a condition precedent under the scheme of arrangement into a condition subsequent, which is unusual in public M&A transactions.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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