Latham & Watkins Represents Tyman plc on Takeover Offer by Quanex

Latham & Watkins has advised Tyman on its takeover by Quanex Building Products Corporation (NYSE: NX), which completed on August 1, 2024. The cash and stock consideration transaction was undertaken by way of UK court-sanctioned scheme of arrangement and was approved by both Tyman and Quanex shareholders on July 12, 2024. Tyman shares previously traded on the London Stock Exchange. The transaction was regulated under the UK Takeover Code.

Pursuant to the transaction, Tyman will become a wholly owned subsidiary of Quanex, with former Tyman shareholders holding approximately 30% of the enlarged group. Tyman brands provide components and access solutions to customers in the building products sector. The transaction creates a global manufacturer with core capabilities and broad applications across various end markets creating a comprehensive solutions provider in the building products industry.

The Latham team was led by London corporate partners Nick Cline and Richard Butterwick, with associates Karima Salway, Faith Edmunds, and Michael Czarnota. Additional advice was provided on US capital markets matters by London partner David Stewart and counsel Yoseph Choi, with associate Heri Mwapachu; on leveraged finance matters by Paris partner Roberto Reyes Gaskin, with associate Hana Ladhari; on banking finance matters by London partner Tania Bedi, with associate Medha Vikram; on employment and benefits matters by London partner Sarah Gadd, with associate Rebecca Servian; on tax matters by London partners Karl Mah and Aoife McCabe, with associate Isabelle Wong; and on antitrust and regulatory matters by London partner Jonathan Parker and Washington, D.C. counsel Britton Davis, with associate James Mathieson.