Alexander D. Lynch has joined the firm of Weil, Gotshal & Manges LLP as a capital markets partner in the Corporate Practice in the firm's New York office. Prior to joining Weil Gotshal, he was the managing partner and co-founder of the New York office of Wilson Sonsini Goodrich & Rosati.
Mr. Lynch's practice focuses on the representation of companies, particularly software, hardware, telecommunications, biotechnology, medical device, financial services, and other emerging growth companies, as well as leading investment banks and venture capital firms. He has extensive experience in initial public offerings, follow-on offerings, venture capital financings, corporate partnering transactions, strategic investments, private placements, and mergers and acquisitions. He also advises boards of public and private companies on corporate governance and fiduciary duty issues.
Weil Gotshal also has been involved in four significant acquisition transactions recently.
The firm advised Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation, in its definitive agreement that provides for the purchase of substantially all of the stock of NYCE Corporation for approximately $610 million in cash. First Data Corporation is the majority shareholder of NYCE Corporation and has held NYCE as a separate unit since December 2003. The transaction is subject to regulatory approvals.
Weil Gotshal also advised Universal American Financial Corporation in the completion of its acquisition of Heritage Health Systems, Inc. for approximately $98 million in cash. Heritage operates Medicare Advantage plans in Houston and Beaumont, TX, and has approximately 16,000 Medicare members with annualized revenue of approximately $132 million.
The firm advised Brascan Corporation in its agreement to acquire 71 hydroelectric power generating plants, totaling 674 megawatts of capacity, and one 95-megawatt cogeneration facility, in upstate New York, from Reliant Energy Inc. for $900 million. The transaction is subject to federal and New York State regulatory approval and is expected to close in the third quarter 2004.
Weil Gotshal also advised DIRECTV Group, Inc. in its definitive transaction agreement with affiliates of Kohlberg Kravis Roberts & Co. to acquire PamAmSat Corporation. DIRECTV is an 80.5 percent stakeholder in PamAmSat. The aggregate transaction value is approximately $4.3 billion.
Weil Gotshal recently advised United Industries Corporation with the negotiation and execution of its definitive agreement to acquire United Pet Group (UPG) for $360 million. United Industries Corporation is a leading manufacturer and marketer of value-oriented products for consumer lawn and garden care and insect control. UPG, a leading manufacturer of premium pet supplies, is currently owned by TA Associates, Friend Skoler & Co., LLC and management.