Skadden is acting as Jabil Inc.’s legal counsel in connection with today’s announcement of the signing of a definitive agreement to divest its Mobility business to BYD Electronic (International) Company Limited in a cash transaction valued at $2.2 billion. The definitive agreement follows a preliminary agreement announced by the two companies on August 27, 2023. The transaction is anticipated to close within the first two quarters of Jabil’s current fiscal year 2024 (which is the period from September 1, 2023 through February 29, 2024), and is subject to closing conditions, including required regulatory approvals. For more information, please see the companies’ press release here.
The Skadden team includes M&A partners Allison Schneirov, Jonathan Stone (Hong Kong) and Alexandra McCormack, and associates Arthur Chan (Hong Kong) and Katey Peardon. All attorneys are located in New York, unless otherwise noted.