find the latest legal job
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Legal Inhouse / Lawyer / Company Secretary
Category: Other | Location: Brisbane QLD 4000
· Fantastic Company · Potential to be Part Time / Flexible Work Pattern
View details
Infrastructure Lawyer/SA
Category: Construction Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Global elite law firm · Dedicated Infrastructure team
View details
Norton Rose Australia acts on impending $80m acquisition

Norton Rose Australia acts on impending $80m acquisition

Norton Rose Australia is acting on an impending acquisition look set to become one of the biggest Australian distributor acquisitions of the year.

NORTON Rose Australia is acting on an impending acquisition look set to become one of the biggest Australian distributor acquisitions of the year.

The firm is advising itX Group Limited (ITX) on the proposed acquisition of all of the issued shares of ITX by Avnet, Inc.

The purchase is still subject to shareholder and court approval, which is expected to take up to five months to complete.

ITX is a leading distributor of a range of IT software and hardware products and a provider of specialised IT services throughout Australia.

The proposed transaction will be given effect to by way of a scheme of arrangement.

Under the scheme, ITX shareholders will receive $1.55 in cash for each ITX share that they hold on the scheme record date. ITX has reserved the right, subject to certain conditions, to declare and pay to its shareholders a special dividend of up to $0.20 per share (in addition to its normal full year dividend).

ITX and Avnet will prepare a scheme booklet and intend to dispatch it to ITX shareholders in late October 2010.

Both the annual general meeting for ITX and the scheme meeting are expected to be held in late November and, if approved, it is envisaged the scheme will become effective in December.

The $80 million deal is being led by Norton Rose partner Shaun Clyne, senior associate Ebony Keenan-Dunn and associate Katie Hegarty.



Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Norton Rose Australia acts on impending $80m acquisition
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Nov 24 2017
Demand lifts in 2017/18 for short-term finance to cover crises
Promoted by NWC Finance. The first five months of the 2017-18 financial year have seen unpreceden...
LCA welcomes religious freedom panel
Nov 24 2017
LCA welcomes religious freedom panel
The Law Council of Australia says the establishment of a panel which will examine the human right to...
Law Society launched a new website, legal politics and lawmaking
Nov 24 2017
Law Society launches project to engage young Aussies
The Law Society of NSW has launched a new website to engage young Australians in legal politics and ...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...