Mallesons Stephen Jaques is acting for Spain's Actividades de Construccion y Servicios (ACS) on their $5 billion takeover bid for Hochtief, which owns 54.5 per cent of Leighton Holdings.
The Australian Takeovers Panel said on Monday (8 November) that it won't block or modify the bid by ACS. The regulator said it did not view the circumstances of the downstream acquisition as unacceptable.
The Madrid based ACS is a world leader in infrastructure development. In 2009, the Group's revenues totalled €15,606 million ($21,396).
ACS has more than 144,000 employees operating in 41 countries and is listed on the Madrid Stock Exchange.
The Mallesons team was led by partners Greg Golding and Jason Watts, who were supported by solicitor Esther Touma.