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News & Insights

Royal KPN’s Offer for Stake in iBasis

July 28, 2009

On July 28, 2009, Royal KPN N.V. (“KPN”) launched a cash tender offer, through its wholly owned subsidiary KPN B.V., for all of the outstanding shares of common stock of iBasis, Inc. not already owned by KPN and its subsidiaries. KPN currently owns approximately 56% of the outstanding shares of iBasis. KPN is offering the public minority shareholders of iBasis $1.55 per share in cash, without interest and less any required withholding tax. The stake of approximately 44% not owned by KPN would be valued at $48.2 million at the $1.55 per share offer price. This cash tender offer was initially announced on July 13.

The lawyers involved in this transaction include partners Mark I. Greene and Philip J. Boeckman and associates Francesco Lione, Randall Derek Walters and John R. Sobolewski on corporate matters; associate Kerry Halpern-Skoglund on executive compensation and benefits matters; and partner Andrew W. Needham and associates Annie Kim and Edward S. Wei on tax matters. Summer associate Michelle Y. Park also worked on corporate matters.

Related Practices & Industries

  • Corporate
  • Mergers and Acquisitions
  • Executive Compensation and Benefits
  • Tax
  • Telecommunications

People

Photo
Name
Mark I. Greene
Title
Corporate
Title
Partner
Email
mgreene@cravath.com
Phone
+1-212-474-1150
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    Education

    • J.D., 1993, University of Pennsylvania Law School
    • B.A., 1989, Cornell University

    Admitted In

    • New York
    Photo
    Name
    Philip J. Boeckman
    Title
    Corporate
    Title
    Partner
    Email
    pboeckman@cravath.com
    Phone
    +44-20-7453-1020
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      Education

      • J.D., 1991, University of Missouri Columbia School of Law
        Order of the Coif, magna cum laude
      • B.A., 1988, Westminster College
        cum laude

      Admitted In

      • New York
      Photo
      Name
      Andrew W. Needham
      Title
      Tax
      Title
      Retired Partner
      Email
      aneedham@cravath.com
      Phone
      +1-212-474-1999
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        Education

        • M.B.A., 1992, The Wharton School of the University of Pennsylvania
        • LL.M., 1990, Georgetown University Law Center
        • J.D., 1986, Georgetown University Law Center
        • B.A., 1982, University of Arizona College of Law

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