Five Firms Advise as Elliott’s Evergreen, Veritas Buy Cubic

Skadden, Arps, Slate, Meagher & Flom and Covington & Burling are advising Veritas Capital on a plan to purchase defense and transportations systems provider Cubic Corp.

An affiliate of hedge fund Elliott Investment Management, Evergreen Coast Capital Corp., is joining a Veritas affiliate in purchasing Cubic at $70 per share, according to the companies’ statement Monday.

Gibson, Dunn & Crutcher is advising Evergreen, while Sidley Austin and Faegre Drinker Biddle & Reath are advising Cubic.

The all-cash transaction is expected to be valued at around $2.8 billion, including debt. After closing, which is expected in the second quarter, Cubic will ...