CSC and Intertrust agree on public offer of EUR 20 per share

On 6 December, Corporation Service Company (CSC) and Intertrust N.V. (Intertrust) announced that they have reached a conditional agreement on a recommended public offer for all shares of Intertrust for EUR 20 (cum dividend) in cash per share. The offer represents a total consideration of approximately EUR 1.8 billion.

The Offer Memorandum is expected to be published in Q1/Q2 2022. Subject to the necessary approvals, CSC and Intertrust anticipate that the offer will close in the second half of 2022.

CSC is the trusted partner for more than 180,000 corporate clients — including 90% of the Fortune 500® — as well as nearly 10,000 law firms and more than 3,000 financial institutions, with 3,000 employees in 13 countries across the globe. Intertrust has 4,000 employees who provide administration services to clients in over 30 jurisdictions, and with an approved partner network which covers a further 120 jurisdictions.

The combination of CSC and Intertrust creates a differentiated leader for corporate, fund, private, and capital markets clients on an international scale, built on the combined strengths of each other’s global teams with complementary geographical and service offering strengths.

There are no assurances that a transaction will be finalised. Further announcements will be made if and when appropriate.

Houthoff advised CSC together with Skadden, Arps, Slate, Meagher & Flom LLP. The team includes Alexander Kaarls, Maurits de Haan, Kasper van der Sanden, Paul de Vries, Jeroen van Mourik and Lisanne Haarman.