Fried Frank and Kirkland & Ellis are advising on an agreement to take cybersecurity software company McAfee Corp. private.
Fried Frank is acting as M&A counsel and Kirkland as finance counsel to an investor group that includes Advent International Corp., Permira Advisers, Crosspoint Capital Partners, the Canada Pension Plan Investment Board, GIC Private Limited, and a subsidiary of the Abu Dhabi Investment Authority.
The group agreed to pay $26 a share for McAfee in a deal that values the company at over $14 billion, including debt, according to a statement.
Ropes & Gray and boutique firm Moulton Moore Stella are advising McAfee. The transaction is expected to close in the first half of 2022, but McAfee has 45-days of a “go-shop” period to find a better deal, the statement says.
Ropes & Gray also advised McAfee on its $4 billion March deal to sell off its enterprise business to a consortium led by private equity firm Symphony Technology Group, advised by Paul Hastings.
To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com
To contact the editor on this story: Chris Opfer in New York at copfer@bloomberglaw.com; John Hughes in Washington at jhughes@bloombergindustry.com
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