Bedell Cristin advises CPA Global on estimated US$6.8bn combination with Clarivate
31 July 2020
Bedell Cristin, working alongside Latham & Watkins, has advised CPA Global, a portfolio company of Leonard Green & Partners, on its combination with Clarivate, a leader in providing trusted information and insights to accelerate the pace of innovation.
Under a definitive agreement signed on 28 July 2020, CPA Global, a leader in intellectual property software and tech-enabled services with more than 12,000 law firm and corporate customers, will combine with Clarivate to create a world leader in intellectual property information and services.
In the all-stock transaction, CPA Global's shareholders are expected to receive Clarivate Plc ordinary shares, representing approximately 35% of the pro forma fully diluted ownership of Clarivate Plc with an approximate enterprise value of US$6.8bn.
It is anticipated that the combination of CPA Global with Clarivate will provide a complete solution to customers that will cover the entire innovation and IP lifecycle - from scientific and academic research to IP portfolio management and protection.
Guy Westmacott said: "We have worked with CPA Global since its acquisition by Leonard Green & Partners in 2017 and are delighted to have been involved on this landmark combination, again showcasing Bedell Cristin's credentials on major international M&A."
The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the last quarter of 2020.