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Bakers and Minters deliver transport merger
Baker & McKenzie and Minter Ellison are acting on a transport tie-up.
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Firms:Baker & McKenzie (K&S Corporation); Minter Ellison (Scott Corporation)
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Deal:K&S Corporation’s proposed merger with Scott Corporation
Area:M&A
Value: The merger proposal values the combined K&S and Scott Corporation (SCC) at more than $200 million.
Key players: The Baker & McKenzie team is being led by corporate partner Ashley Poke (pictured), senior associate Michael O’Neill and associate Eliza McDonald
Deal significance: K&S will offer $0.59 cash or 0.345 K&S shares for each SCC share, plus a fully-franked special dividend to be paid by SCC of $0.05 per SCC share. K&S is a provider of transport & logistics solutions, contract management, warehousing and fuel distribution throughout Australia and New Zealand and maintains one of the largest company-owned and operated fleets in Australia with 22 national depots. K&S reported operating revenue of $564.6 million in FY13. SCC is a national carrier in the transport of bulk solids, liquids and explosives by road, rail and sea. SCC reported annual revenue of $187 million for FY13.
