Qualcomm Inc., a longtime client of Cravath, Swaine & Moore, has turned to Paul, Weiss, Rifkind, Wharton & Garrison to advise it on a $103 billion offer from rival Broadcom Corp. A merger, if completed, would be the largest technology industry transaction in history.
Scott Barshay, global head of M&A at Paul Weiss in New York, where he joined the firm in early 2016 in a high-profile lateral move from Cravath, has taken the lead for Qualcomm. Other Paul Weiss lawyers working on the matter include corporate partners David Klein and Steven Williams, tax partner Jeffrey Samuels, employee benefits partner Lawrence Witdorchic and corporate counsel Brian Scrivani.
Barshay picked up Qualcomm has a client late last year when he and Paul Weiss advised the company on its $47 billion buy of Eindhoven, Netherlands-based NXP Semiconductors NV, a transaction that also saw Allen & Overy, DLA Piper and Shearman & Sterling pick up work for Qualcomm, whose general counsel is Donald Rosenberg.
Broadcom, which counts electronics giant Apple Inc. as a key client, made its unsolicited offer for Qualcomm on Monday. The acquirer is being advised on the proposed deal, which has not yet gone hostile, by Wachtell, Lipton, Rosen & Katz and Latham & Watkins.
The Wachtell team includes firm co-founder Martin Lipton, as well as fellow corporate partners Adam Emmerich, David Karp and Ronald Chen, antitrust partner Damian Didden, employment partner Adam Shapiro, finance partner Gregory Pessin, litigation partner William Savitt and tax partners Eiko Stange and Tijana Dvornic.
Latham’s team is being led by Silicon Valley corporate partners Christopher “Kit” Kaufman and Anthony Richmond, antitrust partners Joshua Holian in Brussels and Daniel Wall in San Francisco and tax partner David Raab in New York. Latham advised Singapore-based Avago Technologies on its $37 billion buy of Irvine, California-based Broadcom in 2015, a deal that saw the acquirer keep the Broadcom name.
According to records on file with the U.S. Senate, Broadcom hired Kilpatrick Townsend & Stockton in late September to lobby on intellectual property disputes. Qualcomm also employs an array of Am Law 200 advocates at the federal level, with firms such as Arent Fox, Brownstein Hyatt Farber Schreck, Covington & Burling and DLA Piper making appearances for the company.
Should Broadcom prevail in its effort to entice Qualcomm into a mega-merger of microchip makers, any final deal would require the approval of legions of regulators, as well as the assent of authorities in China.