| Deal Structure and Party Summary | ||
|---|---|---|
| Deal Structure | Public Target Merger | |
| Acquirer | Shell USA Inc. | |
| Public | No | |
| Industry | Energy & Natural Resources | |
| Additional Acquirer(s) | Shell plc | |
| Private equity sponsorship | No | |
| Target | Volta Inc. | |
| Public | Yes | |
| Industry | Transportation (airlines, rail, shipping, logistics) | |
| Private equity sponsorship(s) | No | |
| Key Transaction Characteristics and Terms | ||
|---|---|---|
| Status | Pending | |
| Announcement date | January 18, 2023 | |
| Transaction value | $169 million | |
| Form of consideration | Cash | |
| Type of merger | Reverse Triangular | |
| Tender offer | No | |
| Go-Shop/No-Shop Terms | ||
|---|---|---|
| No-Shop Provision | Yes | |
| Go-shop Provision | No | |
| Transaction Advisors | ||
|---|---|---|
| Seller / Target Counsel | ||
| Law firm #1 | Shearman & Sterling LLP | |
| Individual attorney(s) | Michael S. Dorf | |
| Acquirer Counsel | ||
| Law firm #1 | Norton Rose Fulbright | |
| Individual attorney(s) |
Lior Nuchi; Blake Redwine |
|
| Seller / Target Financial Advisors | ||
| Financial advisor #1 | Raymond James & Associates, Inc. | |
| Financial advisor #2 |
Goldman Sachs & Co. LLC; Barclays Capital Inc. |
|
| Acquirer Financial Advisors | ||
| Financial advisor #1 | UBS Securities LLC | |