Fieldfisher acts for Future Electronics on its proposed US$3.8bn acquisition by WT Microelectronics

European law firm Fieldfisher is acting for Future Electronics, a Canadian-based leading global distributor of electronic components, on its proposed acquisition by WT Microelectronics, a Taiwan-based company principally engaged in the research and development, manufacture and distribution of semiconductor products.

WT Microelectronics announced on 15 September it has entered a definitive agreement to acquire 100% of the shares of Future Electronics for an enterprise value of US$3.8 billion in an all-cash transaction.

A cross-practice and cross-jurisdiction Fieldfisher team, led by Regulatory Partner Miguel Vaz, is acting for Future Electronics in this strategic transaction.

Working alongside lead corporate counsel for US and Canada, Mintz Levin, Fieldfisher's regulatory, corporate, real estate, IP/IT, commercial & employment practices are advising on the deal, which also sees nine of its offices working together to provide seamless international legal support to Future Electronics.

In the first six months of 2023, Future Electronics generated revenues of US$2.9 billion. The privately-held company, with approximately 5,200 employees in 47 countries, provides customers with application engineering expertise and supply chain services covering a portfolio of electronics from industry leading suppliers.

WT Microelectronics expects the deal to expand its reach to the US and European markets while broadening its product offerings and customer coverage, as both companies complement each other in terms of customer bases, product portfolios and geographical deployments.

WT Microelectronics distributes more than 10,000 products to Asian countries, while Future Electronics offers as much as 150,000 products to customers in regions from Europe and America to Asia.

Commenting on the announcement of the deal, Fieldfisher Partner Miguel Vaz said:

"This instruction is testament to Fieldfisher's growing presence in the European cross-border M&A space. Working on this deal allowed us to tap into our European full service footprint, delivering meaningful strategic advice to our client with the benefit of dedicated local knowledge in key European jurisdictions."

The transaction involved multiple UK practices as well as Fieldfisher offices in France, the Netherlands, Austria, Germany, Spain, Italy, Belgium and Luxembourg.