Milbank LLP is representing the preferred equity financing sources, PSP Investments Credit USA LLC and funds managed by Neuberger Berman Inc., in connection with the take-private acquisition of computer security software company McAfee Corp. (NASDAQ: MCFE) by an investor group led by Advent International Corporation and Permira Advisers LLC, Crosspoint Capital Partners, Canada Pension Plan Investment Board, GIC Private Limited and a wholly owned subsidiary of the Abu Dhabi Investment Authority (collectively, “the Investors”).
As part of the transaction, which has an enterprise value of over $14 billion, the Investors will acquire all outstanding shares of McAfee common stock for $26.00 per share in an all-cash transaction. Upon completion of the transaction, the Investors will take ownership of McAfee.
Founded in 1987, McAfee became the first commercial antivirus software on the market. Purchased by Intel in 2011, McAfee has since strengthened its main cybersecurity software business and focuses on adapting to consumers’ needs and providing online protection in the ever-changing online space. As a privately held company following the acquisition, McAfee will continue building on its success and growth as a pure-play consumer cybersecurity leader.
The Milbank team is being led by New York-based Global Leveraged Finance partners Marcus Dougherty and Spencer Pepper, along with Global Capital Markets partner Rod Miller and Tax partner Andrew Walker with assistance from Global Leveraged Finance special counsel Meir Hornung and associate Benjamin Eisenstein.
