Deals
Weil Advises Facebook as WhatsApp Uses Fenwick: Business of Law
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When Facebook Inc. sought to acquire messaging startup WhatsApp Inc. for as much as $19 billion in cash and stock, the social networking site turned to Weil, Gotshal & Manges LLP for the deal. WhatsApp relied on Fenwick & West LLP, the firm that acted as Facebook’s outside counsel in its 2012 initial public offering.
The deal, which includes $12 billion in stock, $4 billion in cash and $3 billion in restricted shares, is the biggest Internet acquisition in more than a decade. The purchase also carries a $2 billion breakup fee.