A cash deal to acquire a public, employee-owned provider of information to clients in government, business, and academia.
Willkie represented long-time client Bloomberg L.P., the New York–based media and financial data company, on its agreement to acquire The Bureau of National Affairs (BNA), a public, employee-owned provider of information to clients in government, business, and academia, for $990 million cash.
The deal, announced August 25, 2011, will create a combination that "propels Bloomberg’s expansion into the legal information market and enhances BNA through Bloomberg’s data and technology expertise." The tender offer is expected to commence by September 8, 2011.
Partner Maurice Lefkort led the Willkie team on this deal, which is expected to close later this year subject to the terms and conditions set forth in the merger agreement and other customary conditions.