Sidley Austin and Faegre Drinker Biddle & Reath have wrapped up defense and transportation technology company Cubic Corp’s $3 billion take-private purchase by two private equity firms, with Skadden, Arps, Slate, Meagher & Flom and Gibson, Dunn & Crutcher guiding the buyers.
Cubic announced on Tuesday that it had been delisted from the New York Stock Exchange now that its purchase by Veritas Capital Fund Management LLC and Evergreen Coast Capital Corp is complete. Evergreen is an affiliate of activist hedge fund Elliott Investment Management LP. Cubic is facing a shareholder suit over the hedge fund’s influence on the transaction.
San Diego-based Cubic supplies training technology to the U.S. Armed Forces and allied forces. It also develops software like fare collection platforms for public transit companies, according to its website.
Read more/Source: Reuters
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