find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Minters, Freehills, advise on $373m CBA acquisition

Minters, Freehills, advise on $373m CBA acquisition

Minter Ellison and Freehills are legal advisers as the CBA swooped on Count Financial, offering shareholders $373m to acquire the network of financial planning accountants.

FREEHILLS and Minter Ellison are legal advisers as Commonwealth Bank of Australia swooped on Count Financial, offering shareholders $373 million to acquire the network of financial planning accountants. 

Count today said it had entered into a Scheme Implementation Deed without the CBA, under which the bank will acquire all of the ordinary shares in Count, subject to shareholder approval. 

Count on Tuesday said CBA had made an unsolicited cash offer of $1.40 per share, which is 14.6 times Count's normalised net profit after tax of $25.6 million for the year to 30 June 2011. 

The board of Count unanimously recommended that shareholders vote in favour of the scheme, in the absence of a superior offer. 

Count shareholders will have the choice of receiving $1.40 per Count share or $1.40 in CBA shares. 

Minters advised Count Financial on the deal, and Freehills acted for CBA. 

M&A partner James Philips headed up the Minters team with partner Michael Barr-David, financial services partner Nathan Cahill and corporate M&A special counsel Michael Donovan.

Freehills corporate M&A partner Tony Damian, corporate financial partner Michael Vrisakis, M&A senior associate Nicole Underhill and M&A lawyer Ben Jones worked on the deal. 

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

Minters, Freehills, advise on $373m CBA acquisition
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
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'...
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...
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 & ...