Matt Salerno was named “Dealmaker of the Week” by The Am Law Daily for his role advising Medtronic, a global leader in medical technology, services and solutions in the planned acquisition of global healthcare products company Covidien for $42.9 billion. Medtronic announced the definitive agreement on June 15, 2014, under which it has agreed to acquire Covidien in a cash-and-stock transaction valued at $93.22 per Covidien share, or a total of approximately $42.9 billion, based on Medtronic’s closing stock price of $60.70 per share on June 13, 2014.
The article reports that the combined company will expand Medtronic’s reach to 150 countries and author Vanayak Balasubramanian notes that the combined company would “nearly double its 2014 emerging market revenue to $3.7 billion from $2.1 billion.” The author also notes that Matt “is no stranger to complex cross-border mergers and acquisitions.”
Matt was previously named “Dealmaker of the Week” along with Paul Shim in 2012 after advising Dollar Thrifty Automotive Group in its sale to Hertz Global Holdings for $2.3 billion.
“Dealmaker of the Week” is a feature by The Am Law Daily that spotlights lawyers who have played a pivotal role in one of the most notable transactions of the week. Matt was previously named “Dealmaker of the Week” in 2012 after advising Dollar Thrifty Automotive Group in its sale to Hertz Global Holdings for $2.3 billion. Matt is among over 10 other Cleary Gottlieb lawyers who have previously received “Dealmaker” honors for their roles in notable matters.
The Am Law Daily is a daily e-newsletter featuring news, analysis, and information about the business of law as practiced by the country’s largest law firms and most accomplished lawyers. It is sent to over 40,000 email subscribers.