Bird & Bird advises new Australian client, Allco Equity Partners, on its participation in competing bid for iSoft plc

29 August 2007

International law firm Bird & Bird, is pleased to announce that it has been advising new Australian client, Allco Equity Partners, on its participation in a £166m million competitive takeover offer by IBA Health Limited for the issued share capital of iSoft plc.

IBA, an Australian listed healthcare information technology company, originally made a recommended all share offer for iSoft plc in May 2007, but that offer was trumped by an all cash offer by CompuGroup, a German e-health company, in late July. Allco Equity Partners, which is an investment company listed on the Australian Securities Exchange, has agreed to invest up to A$300 million in IBA Health, thus enabling it to increase its original offer for iSoft and include a full cash alternative higher than that offered by CompuGroup.

Allco Equity Partners retained Bird & Bird corporate partner, Simon Allport, to advise on the UK Takeover Code related aspects of its investment in IBA Health following a recommendation by a mutual client. The Bird & Bird team also included corporate partner, Neil Blundell and banking partner, Brett Israel.

Commenting, Simon Allport said:

“We are delighted to be able to guide Allco Equity Partners on what are some quite challenging issues in the context of two public offers made by way of competing schemes of arrangement. The deal is a further example of the strength of Bird & Bird’s growing international corporate group and its ability to service the needs of significant overseas clients on cross border transactions”.

Allco Equity Partners is also being represented by Johnson Winter & Slattery in Australia. IBA Health is being represented by Macfarlanes in the UK and Baker & McKenzie in Australia.

For more information on this please contact Natalie Arestis, PR Manager on 020 7905 6248 or natalia.arestis@twobirds.com.

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Notes to Editors

About Bird & Bird

Bird & Bird is a full service international commercial law firm with an in-depth knowledge of chosen industry sectors. We focus on aviation & aerospace, communications, banking & financial services, e-commerce, information technology, life sciences, media and sport.

With offices in Beijing, Brussels, Düsseldorf, Frankfurt, The Hague, Hong Kong, London, Lyon, Madrid, Milan, Munich, Paris, Rome and Stockholm, we offer our clients local expertise within a global context, helping them to realise their business goals both domestically and internationally.

Bird & Bird was identified as one of the Top 50 Law Firms in the world that has “taken the greatest strides towards globalisation while maintaining quality”, in a recent survey carried out by researchers for the PLCWhich Lawyer? Yearbook.