Michael Parshall
Partner
Sydney
Michael Parshall
Partner
Sydney
Contact details
Michael is one of Australia's leading corporate lawyers with significant experience in public and private M&A, capital raising, restructuring and corporate advisory matters. He is widely recognised for his skill in developing deal structures and has strong relations with all key regulators.
Michael has more than 20 years' experience advising significant listed and unlisted clients and private equity and hedge funds.
Michael has been a pioneer of a number of firsts in M&A transactions including: the first (legal) pre-bid through 20% takeover threshold (rules since changed) (Brookfield-Multiplex); the first listed structure to adopt see-through voting (Canwest-Ten); the first design of scheme proxy to crash through "takeover-proof" constitution (Advance-St George); the first Australian cross-jurisdictional equity swap (Liberty Media in relation to the News Corp reincorporation, leading to the News Corp rights plan being invoked); the first (and second) corporatisation of a listed stapled security via schemes of arrangement (MMG and Asciano); the first three (out of only four in the Australian market) cut-off reinsurance schemes of arrangement.
Michael is consistently recognised as a leading individual in all major directories, including Chambers Global, Corporate M&A and the Asia Pacific Legal 500 where Michael is ranked as a Leading Individual for Corporate/M&A. Michael was recognised as Lawyer of the Year in Corporate Law, Sydney by Best Lawyers Australia, 2020 edition.
Qualifications
Professional
Registered Foreign Lawyer, England and Wales, 2010
Admitted as a solicitor, New South Wales, Australia, 1989
Academic
Master of Laws, The University of Sydney, 1993
Bachelor of Laws, The University of New South Wales, 1989
Bachelor of Commerce, The University of New South Wales, 1989
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Experience highlights
Advising Bradken on the takeover by Hitachi Construction Machinery.
Advising TPG and Carlyle on their consortium proposal to acquire ASX listed Greencross.
Advising Illyria (Lachlan Murdoch's private vehicle) on its consortium proposal to acquire free-to-air broadcaster Ten Network Holdings.
Advising EG Group on its acquisition of Woolworths fuel and convenience business and entity into alliance arrangements for redemption and loyalty programs, wholesale supply and branding.
Qualifications
Professional
Registered Foreign Lawyer, England and Wales, 2010
Admitted as a solicitor, New South Wales, Australia, 1989
Academic
Master of Laws, The University of Sydney, 1993
Bachelor of Laws, The University of New South Wales, 1989
Bachelor of Commerce, The University of New South Wales, 1989
Other noteworthy experience
Advising:
- A multinational telecommunications company on the AUD1.9 billion Austar – Foxtel merger.
- PTT Company Limited on its AUD540 million scheme of arrangement to acquire Straits Resources Limited following the demerger of its metals business into a separate ASX listed company.
- RP Data Limited on its AUD250 million scheme of arrangement when it was acquired by CoreLogic, Inc.
- SAB Miller in relation to its AUD12.3 billion of arrangement scheme to acquire Foster's Group Limited.
- Illyria in relation to the proposed restructure of national free to air broadcaster, Ten Network, via a deed of company arrangement as part of a dual administrator/receiver led sales process.
- Pendal Group (formerly BT Investment Management) in relation to its GBP209 million acquisition of J O Hambro Capital Management, its AUD 232 million entitlement offer and AUD 780 million sell down by Westpac in the company.
- A public display advertising company on the AUD308m sale of its 50% interest in Australian Radio Network and the separate AUD268 million sale of its Adshel interests to APN (now HT&E).
- ING Groep NV on the AUD1.8 billion sale of its 51% shareholding in the ING - ANZ Australia Limited and ING (NZ) Holdings Limited to ANZ, establishing the AUD3.75 billion ING/ANZ joint venture, the AUD4.5 billion sale of its white labelled residential loan book, the AUD765 million sale of its general insurance businesses to QBE, the private acquisition of Oasis Asset Management and FSP group.
- A financial institution on its AUD1.55 billion sale of its wholesale banking and corporate leasing businesses to Westpac Banking Corporation.
- Clydesdale Bank on its AUD5.5 billion demerger from NAB, its listing on the ASX and LSE and the associated IPO by NAB.
- MS&AD on the acquisition of its 15% interest in and strategic alliance with Challenger Group Limited.
Pro-bono experience
Advising indigenous Karrkad-Kanji Trust on structures and governance related issuesRecognition
Clients express high praise for his "tremendous ability to introduce commercial solutions to otherwise intractable problems and think laterally."
Asia Pacific Chambers & Partners, 2018
Michael Parshall offers what one client calls "significant M&A experience over a broad spectrum of industries" and is identified by another as an "exceptionally good" practitioner of the kind "who commands the room."
Asia Pacific Chambers & Partners 2017
Michael Parshall has ‘unrivalled technical M&A knowledge, keeps a cool head in heated discussions and holds the room well’
The Legal 500, 2018
Michael Parshall is widely respected in the market for his "very strong practice" and described by one client as "a partner renowned in his field for his depth of experience and so knowledgeable that he sees things twelve steps ahead." One interviewee points out that he is "very highly regarded for financial services-related transactions in particular."
Asia Pacific Chambers & Partners, 2019
Awards
Lawyer of the Year in Corporate Law, Sydney
Best Lawyers Australia, 2020 edition
