Freehills is consistently ranked as one of the leading advisers in mergers and acquisitions (M&A) throughout Australia and the Asia-Pacific region.

The depth of experience in our team and ability to provide innovative solutions have helped our clients in executing their M&A deals, from the most strategic through to bolt-on acquisitions.

We have extensive experience in acting for both international and domestic clients across a broad range of industries.

Our services cover the full spectrum of public and private M&A including:

• friendly and hostile takeovers
• schemes of arrangement
• mergers
• negotiated acquisitions and disposals
• joint ventures
• spinoffs and demergers
• reorganisations
• board advisory.

Our leading M&A lawyers draw on expertise in specialist areas such as competition law and our associated tax advisory firm, Greenwoods & Freehills, as well as our strong relationships with regulators, to deliver commercially-focused outcomes.

Freehills has recently advised clients on landmark transactions including:

• AXA SA on its A$12.9 billion joint acquisition by AMP and AXA SA of AXA Asia Pacific Holdings. Prior to the AXA/AMP proposal, Freehills also advised on the A$14 billion joint bid with National Australia Bank to acquire AXA Asia Pacific Holdings, and to then acquire AXA APH’s Asian operations for approximately A$9.4 billion.
• Seven Network in relation to its A$3 billion merger by scheme of arrangement with WesTrac.
• TPG Capital in relation to its A$2.7 billion joint bid with Carlyle Group to acquire Healthscope.
• Centennial Coal Company Limited in relation to its A$2.5 billion takeover by Stock Exchange of Thailand-listed Banpu Public Company Limited.
• Babcock & Brown Infrastructure in relation to its A$1.8 billion recapitalisation, which included the sale of a number of assets and a cornerstone investment by Brookfield Infrastructure LP.
• CSR in relation to the A$1.75 billion divestment of Sucrogen, its sugar and renewable energy business, to Wilmar International, following a dual track process for the sale (with multiple different parties) or demerger of the business.
• Orica in relation to its successful A$1 billion demerger and subsequent ASX listing of the DuluxGroup business. Santos on its divestment of a 60% interest in the Petrel, Tern & Frigate gas fields to GDF Suez for A$450 million.
• Bupa Australia’s A$2.41 billion merger with MBF, to create Australia’s leading private health insurance group. The merger was by way of a scheme of arrangement. It was the biggest deal in the private health insurance industry at the time and one in which many hundreds of thousands of Australians are stakeholders.
• Eldorado Gold Corporation’s A$2.4 billion scrip takeover of Sino Gold Mining Ltd.
• Commonwealth Bank of Australia’s A$2.1 billion acquisition of BankWest and St Andrews from HBOS plc.
• Santos’ US$2.508 billion partnership with PETRONAS to develop the Gladstone LNG project. The transaction raised the pricing levels for eastern Australian gas resources to unprecedented levels.
• OZ Minerals’ A$1.75 billion sale of key assets to China Minmetals.
• Viterra Inc’s, Canada’s largest grain handler, A$1.6 billion acquisition of ABB Grain Ltd, the world’s second-largest barley exporter and fourth-largest wheat shipper.
• Macquarie Communications Infrastructure Group’s A$1.6 billion acquisition by Canada Pension Plan Investment Board by scheme of arrangement.
• Challenger Financial Services Group Ltd’s A$1.25 billion acquisition of AXA Australia's immediate annuity business.
• Cadbury plc’s A$1.185 billion divestment of its Australian beverage business to Asahi Breweries.
• Pure Energy Resources’ acquisition by BG Group by a cash takeover offer valued at A$1.02 billion (and the competing takeover offer by Arrow Energy).
• Gloucester Coal’s M&A activity, including its proposed A$1.0 billion merger with Whitehaven Coal and Noble Group’s subsequent takeover offer.
• Kirin Food Holdings Australia (as parent company of National Foods) in relation to National Foods’ A$910 million acquisition of Dairy Farmers.
• National Australia Bank’s A$825 million acquisition of Aviva Australia Holdings, an Australian subsidiary of the UK-based Aviva plc, which includes the life insurance and wealth management business.
• Morgan Stanley’s joint venture with Citi under which Morgan Stanley has acquired a 51 per cent stake in Citi’s local retail wealth management business.
• Santos Ltd’s divestment of a 60 per cent interest in the Petrel, Tern & Frigate gas fields to GDF Suez for A$450 million.
• Santos Ltd’s acquisition of a solo shareholding in Eastern Star Gas and a 35 per cent interest in coal seam joint ventures with ESG.
• National Australia Bank’s A$385 million acquisition of Challenger’s mortgage management business and portfolio of residential mortgages valued at $4.75 billion.
• AXA SA’s joint proposal with AMP to acquire AXA Asia Pacific Holdings.
• Babcock & Brown Japan Property Trust’s (now Astro Japan Property Trust) deal to break free from Babcock & Brown, internalise trust management rights and enter into arrangements with its Japanese asset manager.

Recapitalisations:

• Elders Limited’s combination of debt refinancing, equity raising and asset sale transactions to bring the company ‘back from the brink’.
• Babcock & Brown Infrastructure’s A$1.8 billion recapitalisation proposal involving a new cornerstone investor, Brookfield Infrastructure L.P (together with its affiliates)

Cornerstone investments:

Freehills have advised on all the major cornerstone investments and have market leading expertise in this area:

• Babcock & Brown Infrastructure’s A$1.8 billion recapitalisation involving Brookfield Infrastructure L.P. as cornerstone investor and acquirer of a number of assets.
• Warburg Pincus’ cornerstone participation in a A$800 million capital raising by Transpacific.
• China Investment Corporation’s A$500 million investment as part of the Goodman Group’s equity raising of A$1.8 billion.
• GIC’s cornerstone investment in GPT’s A$1.6 billion equity raising.

Awards

Freehills’ ability to consistently deliver outstanding outcomes for our clients is demonstrated through receipt of the following awards:

• CFO Awards 2010 - M&A of the Year:  Canadian Pension Board’s $5 billion acquisition of Macquarie Communications Infrastructure Group
• Lawyers Weekly ‘Icon Awards’ 2010 – Deal Maker of the Year: Tony Damian
• ALB Australasian Law Awards 2010 – Australian Deal of the Year: Rio Tinto rights issue
• ALB Australasian Law Awards 2010 – Equity Market Deal of the Year: Rio Tinto rights issue
• ALB Australasian Law Awards 2010 – Energy & Resources Deal of the Year: Minmetals’ $1.2 billion acquisition of part of OZ Minerals
• ALB Australasian Law Awards 2010 – New Zealand Deal of the Year: Fisher & Paykel recapitalisation
• Financial Times–Mergermarket M&A Asia Awards 2009 and 2008: Australian M&A Legal Advisor of the Year 
• Canadian Dealmakers Awards 2009 – Mining Industry Award: Eldorado Gold and Sino Gold
• Canadian Dealmakers Awards 2009 – Private Equity Award: Canada Pension Plan Investment Board and Macquarie Communications Infrastructure Group scheme
• Canadian Dealmakers Awards 2009 – Global Expansion Deal of the Year Award: Viterra Inc. and ABB Grain
• FinanceAsia Awards 2009 – Best Financial Law Firm 
• FinanceAsia Awards 2009 – Most Innovative Deal (Joint Winners): Goodman Group recapitalisation 
• FinanceAsia Awards 2009 – Most Innovative Deal (Joint Winners): Babcock & Brown Infrastructure recapitalisation 
• FinanceAsia Awards 2009 – Best M&A Deal: Noble Group’s acquisition of Gloucester Coal 
• CFO Awards 2009 – M&A Deal of the Year: Commonwealth Bank’s acquisition of BankWest 
• The Asset Asian Country Awards 2009 – ‘Best Deal’ in Australia: Warburg Pincus’ cornerstone participation in a capital raising by Transpacific 
• Mining Journal Outstanding Achievement Awards 2009 – ‘Deal of the Year’: Eldorado Gold Corporation’s takeover of Sino Gold Mining Ltd. 
• INSTO Distinction Awards 2008 – Innovative Deal of the Year: BUPA Australia’s merger with MBF
• INSTO Distinction Awards 2008 – Law Firm of the Year. Freehills won this award ‘by virtue of its pre–eminence in mergers and acquisitions in the Australasian region.’ INSTO Magazine. 
• CFO Magazine Awards 2008 – M&A Deal of the Year: CEMEX acquisition of Rinker Group, 2008 
• FinanceAsia Awards, Malaysia Deal of the Year – Santos’ partnership with PETRONAS to develop the Gladstone LNG project
• Australasian Legal Business Awards 2008 – Deal of the Year: Wesfarmers – Coles Acquisition
• Australasian Legal Business Awards 2008 – M&A Deal of the Year: Wesfarmers – Coles Acquisition
• Australasian Legal Business Awards 2008 – Energy & Resources Deal of the Year: Alinta Acquisition
• INSTO Awards 2007 – M&A Deal of the Year: Suncorp–Promina
• Chambers Global Awards 2007  – Australian Law Firm of the Year
• Australian Law Awards 2006 – M&A Law Firm of the Year
• CFO Magazine 2006 – Corporate Law Firm of the Year Award
• INSTO Awards 2004 – Law Firm of the Year Award

M&A Legal Advisor League Tables

No 1 in Thomson Reuters M&A League Tables 1H2011

Freehills has also topped the Thomson Reuters M&A League Tables for 1H2011:

• No 1 on number (46) and No.2 on value (US$27.4 billion) of announced deals
• No 1 on number (41) and value (US$44.8 billion) of completed deals

No 1 in Mergermarket M&A League Tables 1H2011

The Mergermarket M&A league tables also rank Freehills number one again, advising on the highest number of deals for the first half of 2011.

Legal guides

Best Lawyers International 2008, 2009 and 2010 rate Freehills M&A team No.1 in Australia, with more listed ‘best lawyers’ than any other Australian law firm.

Freehills' M&A team was awarded the highest possible ranking in the latest editions of Chambers Global Guide, Asia-Pacific Legal 500, IFLR 1000 and PLC Which Lawyer?

Testimonials

Chambers Global Guide, 2009 states Freehills is ‘One of Australia’s pre-eminent corporate and M&A firms, this outfit “has excellent experience, unsurpassed technical strength and is by far one of the most commercially astute.”’ Clients are also full of praise for the lawyers’ responsiveness and calmness in the face of pressure.”

IFLR 1000, 2010 states, ‘Freehills holds its position at the top of the rankings after a strong performance on some very complicated and time-sensitive deals, while transitioning seamlessly through some substantial changes. Freehills attracts much praise from clients.’

Asia Pacific Legal 500, 2010 states ‘Freehills’ “very strong”, “all-round first-rate” practice delivers “excellent service” and takes an “innovative approach to deals”. It regularly tops M&A league tables on deal volume, and has a national spread of top corporate partners.’

IFLR 1000, 2009 states, ‘Freehills has always commanded great respect and admiration due to its "hassle-free guaranteed satisfaction every time", according to one client.’ The firm won one of the most sought-after deals in this year's market, advising the Coles Group in relation to its $19.5 billion acquisition by Wesfarmers, in Australia's largest merger to date.'

Asia Pacific Legal 500, 2009 states Freehills M&A team ‘handles a significant volume of work—141 deals in 2007—and acts on the highest-profile, complex matters.’

According to Chambers Global: The World's Leading Lawyers, 2008, ‘... clients rave about [Freehills] lawyers: “They exhibit a genuine interest and nuanced understanding of our business, and are great allies in the realisation of our objectives.” The team is also said to “collaborate effectively and consistently provide outstanding legal advice” on a range of top-end private equity and M&A deals, with a particular forte in energy-related transactions. Powerful national companies frequently turn to the firm for its “extraordinary depth of intellect and experience.”’