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17 June – LAWFUEL – The Law News Network – Allen & Overy is advising…

17 June – LAWFUEL – The Law News Network – Allen & Overy is advising Gyrus Group Plc, a leading supplier of medical devices, on the proposed £275 million acquisition of American Cystoscope Makers, Inc., the established U.S. medical device company focused on urology and gynaecology, from US private equity firm Fox Paine and Co.

The acquisition will be financed by a mixture of debt and equity, including a £116 million underwritten vendor share placement with institutional investors, a £34 million purchase of new Gyrus shares by certain of the sellers and a new $250 million debt facility with HBOS. The deal is subject to regulatory and shareholder approval.

The Allen & Overy team is being led by corporate partner Patrick Speller in London, assisted by corporate associates Jocelyn Ormond and Peter Stewart. London Banking partner Trevor Borthwick, assisted by David Billington, is advising on the debt financing.

New York-based corporate partner Eric Shube is leading the team in the United States which also includes partners Henry Morgenbesser (Employment), Michael Jahnke (Antitrust) and Ken Rivlin (Environmental), assisted by associates Alexander Krefft, Meredith Younger and Marina Casani.

Commenting Patrick Speller said: “Not only is this a new client for Allen & Overy, but it is a perfect demonstration of our cross-border expertise, and the strength of both our UK and US M&A Groups in advising on complex and strategic M&A transactions.”

For further information, please contact Jo Shepherd (jo.shepherd@allenovery.com) in London on +44 (0) 20 7330 2915 or on 07771 896 290 or Charlotte Hart (charlotte.hart@allenovery.com) on +44 (0) 20 7330 4871.

British MP George Galloway and his opponent the Daily Telegraph will leave no stone unturned to sort out what could be a spectacular libel case.