NEW YORK (March 2, 2007) — McDermott Will & Emery client Valassis Communications, Inc. (Valassis) has completed its acquisition of ADVO, Inc. (ADVO), the nation's leading direct mail media company, for approximately $1.2 billion (on a fully diluted basis), including the refinancing of approximately $125 million in existing ADVO debt. The combination of Valassis and ADVO features the most comprehensive products and services offering in the industry serving more than 15,000 advertisers worldwide, including 96 of the top 100 advertisers in the United States.
The acquisition and high-yield offering were led by New York partners Amy Leder and Jonathan Rochwarger and included Amy Ferrer, Morgan Walbridge, Wendy Cassity, Mei-Li da Silva Vint, Dan Zucker and Daphne Trotter. The senior secured credit facility financing included Jason Polevoy and Melanie Capobianco.
McDermott Will & Emery's Mergers and Acquisitions Practice Group is a globally integrated team of corporate lawyers providing high-end M&A services to a broad range of clients around the world. We represent clients in both friendly and contested public company acquisitions, proxy contests, stock and asset acquisitions and divestitures and joint ventures. We have extensive experience in complex cross-border transactions and work closely with members of our tax, antitrust and other key practice groups.