Allegro Funds makes first public M&A deal with Slater & Gordon off-market takeover

Corrs helped Allegro with structuring and executing the takeover bid

Allegro Funds makes first public M&A deal with Slater & Gordon off-market takeover
Adam Foreman and Chris Allen

Allegro Funds has made its first public M&A deal with its off-market takeover bid of Slater & Gordon.

Slater & Gordon first announced the proposed partnership in late February after coming out with its half-year financial results. In March, the firm’s board unanimously recommended Allegro’s off-market takeover bid for 100% of Slater & Gordon’s ordinary shares at $0.55 per share.

Last month, the firm said in an ASX announcement that Allegro had obtained relevant interest in 93.81% of Slater & Gordon’s issued capital. With the successful closure of Allegro’s offer, Slater & Gordon delisted on the ASX that same month.

Mark Dewar and Merrick Howes stepped down as directors at Slater & Gordon during that period, with Allegro founding partner Adrian Loader and managing director Johan Krynauw replacing Dewar and Howes.

A team from Corrs Chambers Westgarth assisted Allegro with all aspects of the takeover bid’s structure and execution.

“As a complex deal with a novel structure, involving the acquisition of both debt and equity, the bid required expertise and input from across a large team at Corrs”, co-lead partner Adam Foreman said.

Foreman helmed the Corrs team alongside fellow partners Chris Allen and Michael Catchpoole. Partners Sandy Mak, Ian Dallen and James North provided support, as did experts from the corporate, restructuring, property, employment, financial sponsors and TMT teams.

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