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Stephen Besen

Partner

Email

stephen.besen@aoshearman.com

Phone

+1 212 610 6364

Offices

New York

V-CARD
Stephen has over 40 years of experience representing clients in complex cross-border public and private M&A transactions. 

Clients rely on his broad-based experience in structuring and negotiating acquisitions, dispositions and joint ventures, as well as advising on general corporate legal matters.

Stephen has been recognized as one of the leading lawyers in corporate/M&A and private equity by Chambers USA and Legal 500. In 2022, Legal 500 said that “Stephen Besen is highly engaged and always readily available (even when taking into account the time differences). He combines an in-depth knowledge with excellent communication and negotiation skills and is able to remain his calm under stressful circumstances. He runs his team as a tight ship and makes sure there is appropriate (but not over the top) resourcing for our files, with equally capable other partners (tax, IP) and associates. Stephen is a real pleasure to work with, also from a personal perspective.” In 2008, Stephen was named “Dealmaker of the Year” by The American Lawyer for his role advising SABIC on the $11.6 billion acquisition of GE Plastics.

Stephen regularly represents industrial/infrastructure clients, asset management firms and financial institutions both domestically and internationally.

Experience

Representative matters

  • Macquarie Investment Management on its agreement to acquire NYSE-listed Waddell & Reed Financial, Inc. for an equity value of approximately USD1.7bn, with the combined business becoming a top 25 U.S. mutual fund manager by assets under management; and on the subsequent sale of Waddell & Reed’s wealth management business to LPL Financial for USD300m, and a long-term partnership agreement with LPL.
  • TP ICAP plc on its acquisition of leading global electronic trading network Liquidnet Holdings, Inc. for a consideration of between USD575m and USD700m.
  • WillScot Corporation [NASDAQ:WSC] on its stock-for-stock merger with portable storage solutions provider Mobile Mini, Inc. [NASDAQ:MINI]. The public company combination creates an industry-leading specialty leasing company.
  • A global alternative investment management firm on a USD265m investment to acquire an equity stake in US Wind Inc. and fund a major offshore wind facility off the coast of Maryland.
  • Legg Mason in its acquisition of a majority stake in Clarion Partners Holdings LLC.
  • A global financial institution on the sale of its retail and commercial banking operations in Peru to The Bank of Nova Scotia, and on the sale of the financial institution’s comprised of hedge fund services and private equity fund services, to SS&C Technologies Holdings.
  • Mizuho Financial Group in its acquisition of a $36.5b portfolio of North American loan commitments from the Royal Bank of Scotland Group PLC.
  • A global financial institution in the sale of its worldwide custody business to State Street and the sale of various private equity and venture capital investments.
  • Sumitomo Rubber Industries, Ltd. in the dissolution of its global alliance with The Goodyear Tire & Rubber Company.
  • B/E Aerospace in its spin-off of KLX, Inc. and in its acquisitions of TSI Group Inc. and UFC Aerospace Corp.
  • Deere & Company in the sale of a majority interest in its landscape business, John Deere Landscapes LLC, to private equity firm Clayton Dubilier & Rice.
  • Aditya Birla Group, an Indian multinational conglomerate, in its acquisition of Atlanta-headquartered Columbian Chemicals Company, becoming the world’s largest carbon black manufacturer by volume.
  • Saudi Basic Industries Corp. (SABIC) in its acquisition of GE Plastics.
  • Industry Funds Management (IFM) in the acquisition of a minority interest in VIP Terminals.

Recognition

“Stephen Besen is highly engaged and always readily available (even when taking into account the time differences). He combines an in-depth knowledge with excellent communication and negotiation skills and is able to remain his calm under stressful circumstances. He runs his team as a tight ship and makes sure there is appropriate (but not over the top) resourcing for our files, with equally capable other partners (tax, IP) and associates. Stephen is a real pleasure to work with, also from a personal perspective.”
Legal 500, USA, 2022, M&A: Large Deals

Awards

  • The U.S. M&A Practice is ranked as Highly Regarded, Chambers USA: Mergers & Acquisitions, 2018

Qualifications

Admissions

Registered Foreign Lawyer, England and Wales, 2024

Admitted: Bar of the State of New York, 1984

Academic

S.B. Management and Economics, Massachusetts Institute of Technology, Cambridge, Massachusetts, 1980

J.D., Harlan Fiske Stone Scholar, Columbia University School of Law, New York, New York, 1983

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Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.