Valmont Industries Acquisition Financing – American Law News – Davis Polk

10 March 2010 – – Law News Daily – Davis Polk & Wardwell LLP advised Credit Suisse Securities (USA) LLC and Banc of America Securities as joint lead arrangers, and Bank of America, N.A. as administrative agent, in connection with the structuring and documentation of a $200 million senior unsecured bridge credit facility for Valmont Industries, Inc. The facility is being provided as part of the financing for Valmont’s offer to acquire all the outstanding shares of Delta plc and to satisfy the certain funds requirement of the UK City Code on Takeovers and Mergers.

Based in Omaha, Nebraska, Valmont is a New York Stock Exchange-listed global producer of fabricated metal products. Delta is a London Stock Exchange-listed manufacturer of engineered and galvanized steel products and manganese materials.

The Davis Polk corporate team included partners Michael Kaplan and Jason Kyrwood and associates John K. Doulamis, James P. Richards and Phoebe Nel. Partner Michael Mollerus and associate Arie Rubenstein provided tax advice. Partner Gail A. Flesher and associate Adam Riedel (not yet admitted) provided environmental advice. Counsel John T. Wright and associate Chaoyuan Charles Shi provided employee benefits advice. Partner Frank J. Azzopardi and associates David R. Bauer and Randy Samson provided intellectual property advice. Sonya Jackman was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.

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