Mourant advises on Jersey acquisition by scheme of arrangement of Nasdaq-listed target

Mourant's Corporate and Litigation teams in Jersey have advised Mimecast Limited in relation to its acquisition by funds advised by Permira, a leading global private equity firm.

The all-cash transaction values Mimecast at around $5.8 billion.

The transaction was implemented by a Jersey court sanctioned scheme of arrangement. This is believed to be the first time a Nasdaq listed target has been acquired using a Jersey scheme of arrangement.

Mourant Partners Jon Woolrich and Stephen Alexander, Counsel, Andrew Salisbury and Associate, Nicola Le Boutillier provided Jersey legal advice on all aspects of the acquisition, working alongside Mimecast’s U.S. corporate and M&A counsel, Goodwin Procter LLP.

Mourant acted as Jersey counsel to Mimecast Limited on its IPO on Nasdaq in 2015, when the email security group was valued at $540 million.

Jon Woolrich commented:

"We are proud to have been able to assist Mimecast with the entirety of its publicly listed lifecycle, from its IPO in 2015 through its takeover this year. It has been a pleasure working with the Mimecast team and U.S. counsel Goodwin Procter on this exciting transaction. Our work with Mimecast demonstrates Mourant's expertise in large equity capital market and public M&A transactions."

Mourant has advised on a number of the largest and most prominent takeover schemes in Jersey in recent years. Other examples include: the takeover of Shire plc by Takeda Pharmaceutical Company Limited (a transaction which, by deal value, was the largest ever outbound M&A deal by a Japanese company); the takeover of Delphi Technologies PLC by BorgWarner Inc. (the first-ever Jersey acquisition by scheme of arrangement of a US-listed target), the takeover of Stride Gaming plc by The Rank Group plc; the takeover of Kuwait Energy by United Energy Group; Informa's takeover of UBM; the takeover of Kentz Corporation by SNC-Lavalin and the takeover of Heritage Oil.