Tim Emmerson Named Dealmaker of the Week by The Am Law Daily

June 1, 2012
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On June 1, The Am Law Daily recognized Mr. Emmerson as Dealmaker of the Week for the role played by a cross-border team coordinated by Mr. Emmerson and Mr. Perry advising CGI Group Inc. in its pending acquisition of Logica for $2.6 billion in cash. The transaction presented the S&C team with some unusual characteristics for an acquisition involving a U.K.-based company. In the Logica deal, CGI received partial funding from Canadian pension fund Caisse de depot et placement du Quebec. As a general rule, Mr. Emmerson told Am Law, “U.K. deals are negotiated with the bare minimum of conditions – especially when it comes to financing – in order to assure deal certainty,” In addition, he noted, “We very rarely see equity-funded public M&A by English companies. We see them using debt and then refinancing sometimes with equity.” Because CGI secured financing in Canada within a short timeframe, the S&C team needed “to make sure that the structure of that financing delivered the type of certainty that you're required to have before you do a public takeover in the U.K.” S&C guided CGI through negotiations to a signing that occurred one day earlier than the company's target date, something that Mr. Emmerson and Mr. Perry regard as a “badge of honor” for the Firm's London office. “It proves that you don't need 200 partners to be able to do this kind of deal. Provided you've got the right quality small team, you can still do it.”