April 16, 2012 7:09 PM
Latham, Cooley Put Stamp on $1.4 Billion 3-D Printing Deal
Posted by Brian Baxter
A pair of Am Law 100 firms are advising on an all-stock merger between Eden Prairie, Minnesotaâ€“based Stratasys and Israel’s Objet that values the combined 3-D printer maker at $1.4 billion.
Latham Watkins antitrust partners Bruce Prager in New York and Howard Rosenblatt in Brussels are serving as international competition counsel to Stratasys on the deal. Stratasys shareholders will own 55 percent of the combined entity, which will keep the Stratasys name. The company makes printers used to create three-dimensional images used in the design of cars, military aircraft, and other products.
New York’s McLaughlin Stern, Delaware’s Richards, Layton Finger, and Tel Aviv-based Fischer Behar Chen Well Orion also are advising Stratasys on the transaction, according to a press release issued by the company Monday announcing the merger.
Objet, which is based outside of Tel Aviv, is scrapping plans to go public. It filed in March to raise $75 million through an initial public offering on the NASDAQ Stock Market. An SEC filing by Objet shows that the company turned to Cooley corporate partners Timothy Moore and Marc Recht for outside counsel for both the scuttled IPO and the Stratasys transaction.
In addition to Moore and Recht, who are leading the Cooley team on the Stratasys deal, other lawyers from the firm advising Object in connection with the proposed merger include MA partner Craig Menden, antitrust partners Francis Fryscak and Howard Morse, tax partner Mark Hrenya, and employee benefits partner Dave Walsh.
Israel-based Meitar Liquornik Geva Leshem Brandwein, which was also advising Objet on its IPO through private equity head J. David Chertok, corporate and securities partner David Glatt, and senior counsel Jonathan Nathan, is representing the company on the planned merger with Stratasys. (A trust for the benefit of Meitar Liquornik partners holds options to purchase 150,000 of the company’s shares, according to an SEC filing by Objet related to its aborted IPO.)
Legal fees related to the proposed IPO had not yet been disclosed. Stratasys and Objet expect their merger to close in the third quarter of 2012.
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