Mergers & Acquisitions
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Our M&A lawyers are among the most experienced and effective in the world. We represent many of the world's largest publicly traded and privately held companies, as well as leading private equity firms, financial advisors and other financial institutions and investors on their most important mergers, acquisitions and takeover transactions.
Apollo Funds to Sell Yahoo’s Edgecast to Limelight
- Client News
- March 7, 2022
Paul, Weiss is advising Edgecast, Inc. and funds managed by affiliates of Apollo in the strategic spinoff of Edgecast from Yahoo, which is owned by the Apollo funds and Verizon Communications. Edgecast, a leading provider of edge security, content delivery and video services, will be sold to Limelight Networks, Inc., a leading provider of edge-enabled web applications and content delivery solutions in an all-stock transaction that values Edgecast at approximately $300 million. Yahoo can also receive up to an additional $100 million of Limelight shares over the period ending on the third anniversary of the closing, subject to the achievement of certain share-price targets. At closing, Yahoo will own approximately 32% of Limelight (or up to approximately 35% if additional consideration targets are met). The transaction is expected to close in the second half of 2022, subject to regulatory approvals and other customary closing conditions.
The Paul, Weiss team includes M&A partners Taurie Zeitzer and Justin Rosenberg, and counsel Richard Quay; tax partner Brad Okun; finance partners Mark Wlazlo, Danielle Penhall, Gregory Ezring, Manuel Frey and Brad Finkelstein; securities partner Tracey Zaccone and counsel David Sobel; executive compensation partner Jarrett Hoffman and counsel Ron Aizen; intellectual property partner Charles Googe and counsel Marisa Geiger; real estate partner Peter Fisch; and litigation counsel Peter Jaffe and Steven Herzog.