LAWFUEL – Legal News Service – Davis Polk & Wardwell is advising Morgan Stanley on its acquisition of Saxon Capital, Inc. Morgan Stanley is a New York-based global financial services firm and a market leader in securities, investment management and credit services. Based in Virginia, Saxon Capital is a premier servicer and originator of residential mortgages.
According to the terms of the transaction, Morgan Stanley will pay $14.10 per share in cash for each outstanding share in Saxon Capital, valuing the transaction at approximately $706 million. The acquisition is expected to be completed by the end of 2006, pending customary regulatory and shareholder approvals.
The Davis Polk corporate team includes partner John D. Amorosi and associates Mary S. Simone and Michael Steinberg. Partner Michael Mollerus and associate Grace M. Lee are providing tax advice. Partner Gail A. Flesher and associate Mehrsa Baradaran are providing environmental advice. Partner Kyoko Takahashi Lin and associate Sonesh S. Chainani are providing employment advice. Counsel Susan D. Kennedy and associate Jason Blacksberg are providing real estate advice. Associate Frank J. Azzopardi is providing intellectual property advice.
