Kirkland Represents Institutional Investors Including Caledonia on Acquisition of Stake in Scientific Games from MacAndrews & Forbes

Kirkland advised a number of long-term institutional investors, including highly credentialed gaming industry investor Caledonia, on the agreement to acquire a 34.9% stake in Scientific Games, a world leader in entertainment, from MacAndrews & Forbes Incorporated at a price of $28.00 per share. In connection with the transaction, Ronald Perelman, current Executive Chairman of the Scientific Games Board and MacAndrews & Forbes Chairman and CEO, as well as Barry Schwartz and Frances Townsend, the two other MacAndrews & Forbes representatives, will resign from the Board. Former Aristocrat Chief Executive Officer Jamie Odell, along with former Aristocrat Chief Financial Officer Toni Korsanos, will join the Scientific Games Board as Executive Chair and Executive Vice Chair, respectively.

Read the press release from Scientific Games
 
The Kirkland team was led by transactional partner Michael Brueck, capital markets partner Tim Cruickshank, debt finance partner David Nemecek, derivatives partner Jaime Madell, and transactional associate Peter Fritz.