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Breaking Deadlock In A Public Acquisition

Stork NV was a 140-year old quoted Dutch conglomerate with divisions involved in:

  • civil and military aerospace manufacture (the successor to the world-famous Fokker brand, with involvement in a wide range of global aircraft programmes such as the A380, B787, NH90 and Joint Strike Fighter)
  • the provision of maintenance, repair and overhaul for major industrial plants
  • the manufacture of  food processing machinery

The company had been mired in a long-running and seemingly intractable dispute with activist shareholders over future strategy, leaving management badly distracted and the company unable to move forward.

Our expert knowledge of the company, its situation, its markets and prospects allowed us to conceive, broker and advise on a White Knight solution to break the deadlock.  This resulted in our client, the leading UK private equity house Candover, acquiring Stork for an agreed price and taking it private (de-listing it from the Dutch stock exchange).

The total transaction value was circa €1.6 billion

Our value-add:
  • Sector expertise
  • Transaction concept and initiation
  • Assisting our client in establishing the feasibility and commercial benefits of the transaction
  • Discrete negotiation of solutions with key activist shareholders at critical junctures
  • Breaking deadlock