Troutman Advises ARRIS on $2.1B Cross-Border Buy of Pace
Troutman Sanders Atlanta partner Brink Dickerson and New York partner Robert Fiedman were mentioned and quoted in a January 6 Daily Report article for advising firm client ARRIS Group, Inc., a global innovator in broadband media technology, in its recently-closed acquisition of Pace plc for U.S. $2.1 billion (£1.4 billion). As part of the acquisition, ARRIS reincorporated in the United Kingdom.
“Because of the multijurisdictional nature of the transaction-ARRIS and Pace both do business around the world-and its size, the transaction was a significant acquisition to start with. Layering on the reincorporation of ARRIS in the U.K. and the related tax issues made it particularly complex with a lot of moving parts,” Brink said.
“For companies making a significant international acquisition in an appropriate jurisdiction, inversions continue to provide substantial economic benefits for stockholders,” Robert added. “The tax issues can be complicated, but they all are solvable, and the benefits easily can justify the necessary effort. In the end, ARRIS expects that this structure will reduce its effective tax rate on both a GAAP and a non-GAAP basis.”
Troutman Sanders lawyers Tyler Dempsey, Heather Ducat, Hazen Dempster, Jeff Banish and Tim Mast also were mentioned for working on the deal.