Neil Pathak

Neil is one of Australia's leading M&A lawyers with over 30 years' experience, having advised on M&A transactions to the value of over $200 billion and equity raisings in excess of $30 billion.

In addition to focusing on client M&A work and co-leading Ashurst's M&A (Australia) practice, Neil also serves as head of Ashurst's Australian business.

Neil has particular expertise in listed company takeovers, cross-border acquisitions, and private equity transactions as well as equity capital raisings, ASX disclosure/corporate governance matters, responses to shareholder activism, Takeover Panel dispute matters and foreign investment laws.

He is a senior member of the Australian Government's Takeovers Panel (the peer review body that regulates public company M&A and the primary forum for resolving takeover disputes).

Neil is ranked Band 1 for M&A in Chambers and all other legal directories. Best Lawyers named Neil Melbourne's M&A, Corporate, Private Equity and/or Equity Capital Markets Lawyer of the Year in 10 of the last 13 years.

He has expertise in various industries including mining/resources, energy, infrastructure, manufacturing, chemicals, healthcare, agribusiness, FMCG, retail, leisure and gaming, logistics, real estate and technology sectors.

Neil also lectures in takeover and securities law at the University of Melbourne Law School where he is a Senior Fellow and has authored several publications including Takeovers Law & Strategy (third edition).

Neil studied at the University of Melbourne, graduating with a bachelor of laws (first class honours) and commerce (finance major – first class honours average). At university he was editor of the Melbourne University Law Review.

Highlights of Neil's deal experience include advising:

• VGW Holdings on its successful $3.2 billion take private by the family office of VGW founder and CEO, Mr Laurence Escalante, by scheme of arrangement.
• Kin Group on its successful takeover bid to acquire Pact Group, with an enterprise value of c. A$900m and various other transactions including the recent takeover of The Reject Shop by Dollarama (where Kin was the largest shareholder).
• Adamantem Capital on its successful acquisition of QANTM IP by scheme of arrangement, proposed takeovers of Apiam Animal Health and Close the Loop and sale of its laundry services and health businesses.
• Ansell on its US$460 million acquisition of Kimberly Clark personal protective equipment/wear division and associated equity raising and other transactions including its $800 million sale of its Sexual Wellness business to Humanwell Healthcare/Citic.
• Cleanaway Waste on its acquisitions of Contract Resources, Tox Free and Global Renewable Holdings and the proposed A$2.5 billion acquisition of Suez’s Australian business, which resulted in the acquisition of certain assets (in connection with the hostile bid for Suez from Veolia) and associated equity capital raisings.
• OZ Minerals on its A$9.6 billion takeover by BHP by scheme of arrangement, the largest binding public M&A transaction announced in 2022.
• Syrah Resources on $700m+ plus in equity raisings and convertible note issues to AustralianSuper.
• Federation Mining/Endura Mining on various capital raisings and joint venture with AustralianSuper.
• Amplitude Energy on its $150 million equity raising.
• Orica on various multi-billion-dollar transactions including the acquisitions Axis Mining Technology, Dyno Nobel, Minova and Burrup AN plant (and associated capital raisings) and various disposals including its Chemicals Group (Ixom) and the demerger of DuluxGroup.
• PAG Capital on its acquisitions of Australian Venue Co, Patties, Vesco, Cordina and DTZ and its investment in Rex Airways (and divestment of this investment).
• Brookfield/Origin advising Brookfield’s key co-investor on the proposed A$18.7bn acquisition of Origin Energy by scheme of arrangement.
• UniSuper (Sydney Airport’s largest shareholder) on its participation in the A$32 billion takeover of Sydney Airport by Sydney Aviation Alliance (IFM and GIP) by scheme.
• Anheuser-Busch InBev on the A$16 billion sale of Carlton & United Breweries to Asahi Group, the largest M&A transaction in Australia in 2019-20 as well as the acquisitions of 4 Pines, Pirate Life, Mountain Goat and Balter Brewing.
• DuluxGroup on its A$4.2 billion acquisition by Nippon Paints by scheme of arrangement and various acquisitions including Seasol, Pental and Alesco.
• PowAR consortium (QIC, Future Fund, AGL) on its A$3 billion acquisition of Tilt Renewables by scheme of arrangement and prior to that advised Tilt Renewables on the A$1.1 billion sale of the 270 MW Snowtown 2 wind farm to Palisade Investment Partners and First State Super.
• Atlas Arteria on its response to IFM Infrastructure’s acquisition of a 19% interest in Atlas Arteria, valuing the company at over $7.6 billion, and aspects of its US$2 billion acquisition of Chicago Skyway and A$3 billion equity raising.
• BGH Capital consortium (including AustralianSuper) on its A$2 billion acquisition of Navitas by scheme of arrangement and various other acquisitions by BGH and by Navitas including of Study Group Australia.
• Jacobs Engineering Group Inc's A$4.6 billion sale of its energy, resources and chemicals business to WorleyParsons.
• TPG Capital on its A$910 million acquisition of Greencross by scheme of arrangement and various other transactions including the $1.1 billion acquisition of DTZ (with PAG).
• APN Property on the A$320 million takeover by Dexus by scheme of arrangement and various capital raisings (including IPO) by its managed investments, Convenience Real Estate REIT and Industria REIT
• Pyridam on its successful acquisition of Probiotec by scheme of arrangement.
• Palisade Impact Fund on its investments in GigaComm, RepurposeIt, Energy Locals.
• Catcha Group on its joint US$200 million acquisition with Carsome of iCar by scheme.
• Sovereign wealth fund on various transactions including the acquisition of a 10% interest in Transgrid.
• Aquis on its acquisition of the Canberra Casino, reverse takeover of Discovery Resources and eventual exit via sale to Iris Capital
• Aurora Oil & Gas on its A$2.7 billion acquisition by Baytex by scheme of arrangement.
• Wesfarmers on various acquisitions including the takeover (via API) of Silk Laser, Pacific Brands Workwear division and consideration of a divestment of Officeworks.
• Coles on the ownership review process culminating in the A$22 billion acquisition by Wesfarmers, Australia's largest ever takeover at that time.
• Advising various parties on Takeover Panel dispute matters including Pact Group, Mayfield Childcare, Cromwell Property Group, Australian Whisky Holdings, Firestone Energy, Alesco, Queensland Cotton, MYOB (as well as hearing many other matters in Neil's capacity as a Takeovers Panel member)