find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
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
Iron Mountain buys Recall Holdings

Iron Mountain buys Recall Holdings

handshake

Multiple firms have advised on the sale of ASX-listed document provider Recall Holdings to Iron Mountain.

Firms: MinterEllison (Iron Mountain); Weil, Gotshal & Manges LLP (US and UK counsel to Iron Mountain); Allens (Recall Holdings); Sidley Austin (US counsel to Recall Holdings)

Deal: Global document and data storage company Iron Mountain acquired Australia-based Recall Holdings.

Value: $3.7 billion

Area: M&A, competition

Key players: The MinterEllison competition team consisted of partner Katrina Groshinksi and senior legal consultant Russell Miller. The corporate team from MinterEllison comprised partners Michael Gajic, Ben Smith and lawyer Annabel Humphreys.

Deal significance: The acquisition was completed by way of a recommended scheme of arrangement through a scrip offer that valued Recall at around $3.7 billion.

Iron Mountain issued 0.1722 of its own shares plus US$0.50 cents in cash for each Recall share and completed a secondary listing of its shares, by way of CDIs, on the ASX, according to a statement from MinterEllison.

Recall shareholders with 5,000 shares or less were given priority access to an alternative all-case consideration of $8.50 per share.

This offer was subject to a pro-ration mechanism that capped the total cash payable to Recall shareholders at $225 million.

In order to gain approval from competition regulators, Iron Mountain agreed to divest portions of Recall’s business in Australia, the US and Canada.

Approval has now been granted by the Australian Competition and Consumer Commission, the US Department of Justice, the Canada Competition Bureau and the UK Competition and Markets Authority.

However, the UK competition review is still ongoing.

 

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

Iron Mountain buys Recall Holdings
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Dec 13 2017
Young humanitarian lawyer California-bound
A young Australian lawyer will be travelling to the US next year for a prestigious nine-month study ...
Jackie Rhodes
Dec 12 2017
Report sheds light on LGBTQI inclusion in law firms
A recent report has revealed the varying perceptions on LGBTQI diversity and inclusion in the Austra...
Women in business
Dec 12 2017
Annabel Crabb headlines Women in Business Forum
Political journalist Annabel Crabb has appeared at the Coleman Greig Lawyers Women in Business Forum...
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 & ...