International law firm, Bird & Bird has just advised Daisytek International Corporation on its recommended offer to acquire ISA International plc. The offer of 7.5p cash per share, which has valued ISA at approximately £4.4 million, with an alternative of Daisytek restricted common stock, was declared wholly unconditional today.
Bird & Bird have previously advised Daisytek on its £8million preference share investment in ISA in September 2001 and also on the transfer of ISA’s listing from the LSE to AIM. The acquisition of ISA will provide Daisytek with an enhanced platform to expand into Europe.
The Bird & Bird team was led by corporate partners, Chris Barrett and David Byam-Cook. Daisytek were also advised on US securities issues by their regular US counsel, Dallas based, Munsch Hardt Kopf & Harr (Mike Hainsfurther).
Commenting, Chris Barrett said:
“This is an important development for Daisytek because it represents a major achievement for their international growth strategy. We were very pleased to have played our part in this key partnership.”
ISA were advised by Hammond Suddards Edge (Andrew Pike).
For more information, please contact partner Chris Barrett on +44 (0) 20 7415 6000 or Larry Cattle, Director of Marketing, on +44 (0)20 7415 6156.