Shearman & Sterling was recognized for its leading role advising Novartis on its $3.9 billion acquisition of Advanced Accelerator Applications, which won “M&A Deal of the Year” at the IFLR Europe Awards 2019.
The IFLR Europe Awards recognize law firms that have provided innovative legal advice on complex international transactions. In its description of what made this transaction outstanding, IFLR Europe noted that: “Novartis’ $3.9 billion acquisition of AAA followed a completely bespoke path emanating from the fact that AAA was a French company with shares (in the form of ADSs) listed on Nasdaq without being listed in Europe. […] The transaction presented a number of legal aspects that had never been addressed before.”
“We are delighted to have been recognized together with the Novartis team for the innovative work on this unique and highly complex cross-border transaction,” said George Casey, Global Co-Managing Partner and Head of the Corporate Business Unit. “We feel privileged that clients reach out to us to work with them on their most complex and challenging matters.”
Deputy Head of the Paris office, Guillaume Isautier, commented: “We are honored to have received the M&A Deal of the Year Award for the Novartis deal. This award is a testament to our outstanding M&A practice and demonstrates our ability to successfully support our clients in complex international transactions. It also demonstrates the effectiveness of the close collaboration between our offices.”
The firm’s work on this particular deal has already garnered praise from other prominent publications. In January, Law360 selected Shearman & Sterling as M&A Group of the Year for its exemplary work on the Novartis deal as well as others, including CVS Health’s acquisition of Aetna –the largest deal of 2018– and Unibail-Rodamco’s takeover of Westfield Corp.
The Shearman & Sterling team below also included consultant Hervé Synvet.