Liberty Global, Inc. (“Liberty Global”) (NASDAQ: LBTYA, LBTYB and LBTYK) and Virgin Media Inc. (“Virgin Media”) (NASDAQ: VMED; LSE: VMED) today announced that they have entered into an agreement, subject to shareholder approvals, pursuant to which Liberty Global will acquire Virgin Media in a stock and cash merger valued at approximately $23.3 billion (£14.8billion).
Latham & Watkins fielded a trans-Atlantic deal team on the transaction. The London-based team is representing the initial purchasers in connection with the financing of the transaction. The team was led by London corporate partners Scott Colwell, Tracy Edmonson and Rich Trobman. London partner Sean Finn and New York partner Jiyeon Lee-Lim advised on tax matters.
Latham & Watkins’ Chicago-based deal team is representing Credit Suisse as financial advisor to Liberty Global in the transaction, led by New York/Chicago corporate partner Mark Gerstein and Chicago corporate partner Bradley Faris. Washington, D.C. partner Nicholas DeNovio advised on tax matters.
The deal will create the world’s largest broadband company, according to the BBC.