Cleary Gottlieb, Lowenstein Sandler advise on $3.5 billion American Tower deal
11/5/20 REUTERS LEGAL 22:20:41
Copyright (c) 2020 Thomson Reuters
Arriana McLymore
REUTERS LEGAL
November 5, 2020
Signage is seen outside of the law firm Cleary Gottlieb Steen & Hamilton LLP in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly
(Reuters) - Communications infrastructure giant American Tower, which is being represented by long-time advisers at Cleary Gottlieb Steen & Hamilton, announced on Thursday that it is purchasing Lowenstein Sandler client InSite Wireless Group for $3.5 billion.
The transaction is the latest multibillion-dollar deal handled by Big Law in November following a string of announcements days before Election Day.
Some of the first deals announced this month included Nielsen Holdings, which said Sunday it will sell its consumer goods data unit, Global Connect, for $2.7 billion to private equity firm Advent International. Another private equity shop, Stonepeak Infrastructure Partners, said Sunday it would buy Astound Broadband, which Cleary Gottlieb also represented, for $8.1 billion.
The Cleary Gottlieb New York City and Washington, D.C-based deal team was led by M&A partners Benet O'Reilly and Kimberly Spoerri. The team also included corporate partners Craig Brod and Francesca Odell, tax partner Corey Goodman, labor and employment counsel Kathleen Emberger, environmental counsel Rick Bidstrup and Beau Sterling, finance partner Duane McLaughlin, securitization partner-elect Macey Levington and intellectual property partner Daniel Ilan.
This is the second time this year that American Tower has turned to Cleary Gottlieb. The Boston-based company tapped the firm in June to advise on a $2 billion notes offering. Cleary Gottlieb has previously represented American Tower in 2019 on two separate note offerings of $1.25 billion and $2.3 billion.
The Lowenstein Sandler deal team advising InSite Wireless was led by M&A partner Michael Brosse and tax partner Michael Walutes. Other members of the team include M&A partners Traci Tomaselli and Jeffrey Shapiro; transactions counsel Sabrina Cua; employee benefits counsel Megan Monson and partners Darren Goodman and Andrew Graw; antitrust partner Jeffrey Blumenfeld and senior counsel Jack Sidorov; debt financing partners Lowell Citron and Marc Kurzweil; tech transactions partner Nicholas Mehler; employment counseling partner Julie Levinson Werner; environmental law senior counsel Norman Spindel and intellectual counsel Matthew Hintz.
Lowenstein Sandler has previously represented InSite Wireless in 2015 on its acquisition of 294 communication tower sites from CTI Towers, Inc, a deal that was also led by Brosse.
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