Dealmaker of the Week: Alison Ressler of Sullivan & CromwellJune 19, 2009
The AmLaw Daily named Ms. Alison Ressler as its Dealmaker of the Week for her role advising Barclays in its sale of Barclays Global Investors (BGI), which includes the iShares business, to BlackRock. AmLaw notes that Barclays initially called on Ms. Ressler in January to assist in the sale of iShares to CVC Capital Partners, a deal that brought the challenge of unwinding iShares from a complex of 20 other BGI companies. She is credited with obtaining an "important concession" from initial bidder CVC for a 45-day "go shop" period as well as successfully leading a team of nearly 50 lawyers "spread across three time zones" in negotiating 15 different agreements with CVC, BlackRock and other unnamed bidders. The resulting US$ 13.5 billion winning bid from BlackRock brought Barclays nearly triple the value of CVC's first offer and a substantive stakeholder role in BlackRock, now the world's largest fund manager. Ms. Ressler commented, "It was the most intense, the most complex, and the craziest deal I've ever worked on...I had to make sure we didn't miss any pieces."