After taking a controlling stake in Ike Batista's IronX in August, Anglo American has launched a public tender bid to acquire the company's outstanding shares.
Anglo American made the offer on 31 October through its Brazilian subsidiary, taking legal advice from regular counsel, Machado, Meyer, Sendacz e Opice Advogados.
The closing of the US$3.5 billion cash acquisition was threatened by a Federal Police investigation into an alleged fraud by one of Batista's companies in the award of a railway concession.
However, Anglo American decided to continue with the acquisition after Batista agreed to indemnify them personally for any potential losses sustained as a result of the investigation.
Shareholders have until 1 December to decide whether to accept the tender offer, and Anglo American will buy all tendered shares through a Bovespa auction on 2 December.
Counsel to Anglo American Participacoes em Mineracao
In-house counsel - Vicente Galliez
Machado, Meyer, Sendacz e Opice Advogados
Partners José Roberto Opice, and Eliana Ambrósio Chimenti, and associates Alessandra de Souza Pinto and Bruna Passos Piagentini
Counsel to MMX (in the original M&A transaction)
In-house counsel - Paulo de Gouvêa and Claudio Lampert
Davis Polk & Wardwell
Partners John Amorosi, Manuel Garciadiaz, Kathleen L. Ferrell and Diane Kerr and associates Joana Benjamin, Paul Hodgdon, and Oliver Smith
Gibson, Dunn & Crutcher LLP
Partners Kevin W Kelley and Helena Berti and associates Lisa Alfaro and Bernardo Coindreau
Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados
Partner Carlos Barbosa Mello and Moacir Zilbovicius and associates Angélica Pedroso and Paula Vieira de Oliveira
Counsel to Anglo American
Sullivan & Cromwell LLP
Partner Sergio J Galvis and associates Werner Ahlers, Arianna Pretto-Sakmann and Jaime Ramirez
McCarthy Tétrault LLP
Partners Sven Milelli and Roger Taplin
Machado, Meyer, Sendacz e Opice Advogados
Partners In Hee Cho, José Roberto Opice, José Ribeiro do Prado Júnior and Eliana Ambrósio Chimenti, and associates Watson Possato, Fernando Tonanni, Liliam Yoshikawa, Flávia Ferraz, Milton Pinatti Ferreria de Souza
(Latin Lawyer 03.11.2008)