Davis Polk advised the sole lead arranger and sole bookrunner, and the administrative agent, of a committed £625 million bridge loan facility to support the proposed public-to-private acquisition of e2v technologies plc by Teledyne Technologies Incorporated, to be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006.  The bridge loan facility has been provided on a certain funds basis in order to satisfy certain requirements of the U.K. City Code on Takeovers and Mergers.

Teledyne is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics and engineered systems. Teledyne’s operations are primarily located in the United States, Canada, the United Kingdom and Western and Northern Europe.

e2v is a leading designer, developer and manufacturer of radio frequency power systems, imaging solutions and semiconductors to the aerospace, security and defense, space, medical, scientific and industrial markets.  The e2v group is headquartered in the United Kingdom and employs approximately 1,700 people across nine engineering locations and six sales offices in Europe, America and Asia.

The Davis Polk corporate team included partners Nick Benham and Jason Kyrwood and associates Aaron Ferner, William Tong, Darren Mahone and Phoebe Jin. The capital markets team included partner Deanna L. Kirkpatrick and associates Christopher M. Bezeg and Rafeeq Khazin. Members of the Davis Polk team are based in the London and New York offices.