Nokia’s sale of its device and services businesses to Microsoft for $7.1 billion was a seismic event in tech. And the Finland-based company once again turned to Skadden to handle the massive carve-out and bridge financing transaction involving business operations in more than 80 countries, with Palo Alto partners Kenton King and Michael Mies leading the way.
Next on the firm’s deal list, Singapore-based Avago’s acquisition of Skadden client LSI Corp. was the second largest deal in the semiconductor industry in 2013. This $6.6 billion, all-cash transaction was a transformative acquisition for Avago, and featured a complicated debt structure involving both a $4.6 billion term loan from a consortium of banks and a $1 billion convertible note from Avago investor Silver Lake. The deal required U.S. and China antitrust approval and CFIUS approval in the United States. Palo Alto partner Amr Razzak lead the way for LSI.
