Frank Aquila and Audra Cohen Led S&C Team Advising on The American Lawyer’s 2016 “Deal of the Year” – Kraft Merger with Heinz

April 1, 2016

In its April issue, The American Lawyer named the Heinz/Kraft merger Deal of the Year for 2016. Mr. Aquila and Ms. Cohen advised Kraft on the complex $60 billion deal, which closed within 100 days of signing—a rarity for such large mergers, which usually take more than nine months to close. The American Lawyer's profile of the deal explored the many challenges of closing the deal in such a short timeframe, including the need to quickly register and clear Heinz's issuance of the share component of the stock and cash transaction with the Securities and Exchange Commission. “Nothing could move forward until that happened,” said Mr. Aquila. “In parallel to dealing with the SEC, we also had to obtain antitrust and competition approvals and clear all the other closing conditions. Given our time constraints, that would be difficult to do in a straightforward $500 million deal, let alone pull off in a merger of this size and complexity.”