W&C advises Panasonic on $8.5bn Blue Yonder acquisition

White & Case LLP has provided cross-border advice to Panasonic Corporation on its acquisition of Blue Yonder, a leading end-to-end, digital fulfillment platform provider

Panasonic will purchase the remaining 80 per cent of shares of Blue Yonder at an enterprise valuation of US$8.5 billion on a cash-free, debt-free basis, adding to the 20 per cent stake Panasonic acquired in July 2020, also with the assistance of White & Case.

The announcement came less than a year after Panasonic acquired the minority stake in Blue Yonder for $800 million, giving the AI firm an enterprise value of $5.5 billion. Panasonic’s latest buyout offer will value the Scottsdale, Arizona-based company at $8.5 billion, in one of the biggest acquisitions for the Japanese firm.

The Japanese firm will fund the transaction with cash as well as a bridge loan. The deal is expected to close by the end of this year.

“We are honored to be able to assist Panasonic with this strategically significant acquisition,” said White & Case partner Jun Usami, who co-led the firm’s deal team across Japan, the US, the UK and Germany, amongst others. “The complexity of the transaction showcases the depth and breadth of our experience in global mergers and acquisitions capabilities and seamless delivery of integrated cross-border, cross-practice expertise, which White & Case is renowned.”

The White & Case team which advised on the transaction was led by partners Jun Usami and Nels Hansen (both Tokyo) and local partner Shino Asayama (Tokyo) and included teams from Boston, Frankfurt, London, Milan, New York, Shanghai, Stockholm, Washington DC, Mexico City, Paris, Warsaw, Singapore, Seoul, Sydney, Dubai, Beijing, Brussels, Hong Kong, Melbourne and Madrid.

From W&C Spain, advice was provided by Carlos Daroca (pictured), partner in the firm’s M&A, Private Equity, Real Estate and Corporate practice in Madrid.