Allens

Mergers & Acquisitions

The Mergers & Acquisitions team advises on many of Australia's largest M&A transactions, and is one of the leading corporate practices in Australia. With an emphasis on quality, innovation and efficiency, we deliver highly successful outcomes for leading companies in Australia and around the world.

Independent surveys consistently recognise our lawyers as the best M&A advisers in Australia and the Asia region, with our team advising on many of the largest and most significant deals in the Australian market.

Our broad M&A experience spans both public and private transactions, and both large-scale and smaller matters. While we are often involved in significant and novel transactions, we also regularly support our clients on smaller-scale ‘business as usual’ acquisitions, divestments and joint venture arrangements.

We are pleased to have played a crucial role in the largest and most complex deals in Australia's corporate history, including:

  • Unibail Rodamco on its acquisition of Westfield Corporation for an enterprise value of US$24.7 billion (A$32.7 billion);
  • Rio Tinto on a series of divestments of coal assets in Queensland for a combined consideration of US$4.15 billion. The sales represent some of the largest private resources M&A divestments in Australia in recent years;
  • the State of New South Wales on the sale of a 51 per cent interest in the WestConnex project to the Transurban-led consortium, Sydney Transport Partners, for $9.3 billion;
  • the successful $9 billion consortium bid for Asciano Limited by way of a scheme of arrangement;
  • the NSW Government on the long-term lease of Endeavour Energy to the Advance Energy Consortium (comprising Macquarie, AMP, QIA (Qatar Investment Authority) and bcIMC (British Columbia Investment Management Corporation)) for $7.6 billion;
  • the NSW Government on the A$10.258 billion 99-year lease of TransGrid to the NSW Electricity Networks consortium;
  • CKI consortium on its recent A$13 billion non-binding indicative offer to acquire all of the stapled securities in APA Limited by way of trust schemes;
  • Asciano consortium purchaser on the acquisition of Asciano Limited for a cash consideration of $9.05 billion;
  • Investa Office Fund on its response to the $2.98 billion proposal from Cromwell Property Group;
  • QIC's A$7.1 billion sale of Queensland Motorways to a consortium;
  • News Corporation on the separation of its media and entertainment business and its publishing business;
  • Foster's Group's response to the takeover by SABMiller for A$12.3 billion;
  • Wesfarmers' A$20 billion acquisition of Coles;
  • Newcrest Mining's A$9.5 billion merger with Lihir Gold;
  • Rio Tinto's response to BHP's US$192 billion takeover offer;
  • St.George Bank's A$67 billion merger with Westpac Banking Corporation; and
  • ConocoPhillips' A$9 billion joint venture with Origin Energy.

Cross-border M&A is a particular specialisation, involving the co-ordination of large teams across different jurisdictions, regularly working with local counsel. The team also regularly advises private equity clients.

Our strong and enduring relationships with leading financial advisers and regulators, including the Australian Securities & Investments Commission, the Australian Competition & Consumer Commission, the Takeovers Panel and the Australian Securities Exchange, enable us to play an effective part in any advisory team.