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.
The Bedell Cristin team provided Jersey law advice and was led by partner Guy Westmacott with support from associates Craig Geraghty and James Peart, partner Alasdair Hunter and global managing partner Tim Pearce.
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.