PAUL L. CHOI is a Partner in Sidley’s Corporate group, which advises clients on mergers and acquisitions, corporate finance transactions and corporate governance matters. He is the global co-head of the firm’s mergers and acquisitions practice.
In the mergers and acquisitions area, he focuses on public and private mergers, acquisitions, dispositions, spin-offs and joint ventures. His practice also includes counseling clients on takeover defense and proxy contests. In recent years, Mr. Choi has advised on a broad range of mergers and acquisitions transactions, from small private transactions to public multi-billion dollar mergers. He advised First Data Corporation on its $29 billion acquisition by an investor group controlled by KKR and previously represented First Data on its $14 billion spin-off of the Western Union Company. Mr. Choi advised Discover Financial Services in its $15.8 billion spin-off from Morgan Stanley. He represented West Corporation in its $4.1 billion recapitalization sponsored by Thomas H. Lee Partners, L.P. and Quadrangle Group LLC. He also advised Andersen Worldwide, S.C., the Swiss coordinating body for the independent Andersen professional firms, on its global corporate matters. Other transactions include advising Barrett Resources in its response to Shell Oil Company’s hostile takeover attempt and the subsequent agreement by Barrett Resources to merge with The Williams Companies, Inc. for $2.8 billion. Mr. Choi also led the representation of KPMG LLP’s spin-off of its global management and information technology consulting business. He assisted eBay Inc. in its $2.0 billion sale of Skype Technologies and represented Discover Financial Services in its $600 million acquisition of The Student Loan Corporation. More recently, he advised Commercial Metals Company in its successful defense against a $1.7 billion hostile tender offer and proxy contest launched by Mr. Carl C. Icahn.
In the corporate finance area, he has represented issuers and underwriters on dozens of private and public equity and debt offerings. These capital markets transactions have included a variety of initial public offerings, including subsidiary or “carve-out” offerings in the energy, technology, financial services and real estate sectors, and other acquisition financing transactions. His practice also includes private equity and debt offerings, Rule 144A transactions, and high yield debt, equity derivative and hybrid securities offerings. Recently, he represented Caterpillar Inc. in $4.5 billion of public offerings to finance its acquisition of Bucyrus International, Inc.
In addition to his transactional work, Mr. Choi advises public company clients on a broad range of corporate governance and general securities law matters, including Sarbanes-Oxley, board of director, fiduciary duty, audit committee, PCAOB, disclosure policy and related issues. He has spoken at numerous seminars on topics relating to directors’ duties, audit committee best practices, auditor matters and Sarbanes-Oxley issues.
Mr. Choi was named by Crain’s Chicago Business in its annual “40 Under 40” list of leading Chicago area business executives and professionals. He is included in the Corporate/M&A section of Chambers Global: The World’s Leading Lawyers for Business - The Client’s Guide and Chambers USA: The World’s Leading Lawyers for Business - The Client’s Guide in Illinois. Mr. Choi has been recognized in The International Who's Who Legal: Mergers & Acquisitions, and is also a recommended lawyer for mergers and acquisitions work by Global Counsel 3000. Additionally, Mr. Choi has been recommended by Legal 500 for Capital Markets: debt offerings and M&A: large deals. He is also recognized in The Best Lawyers in America for Corporate Governance Law, Corporate Law and M&A Law.
Mr. Choi served as a law clerk to the Honorable Laurence H. Silberman on the United States Court of Appeals for the D.C. Circuit from 1989-1990.