James T. Lidbury
Partner
Jim Lidbury is a partner in Ropes & Gray’s Hong Kong office and Head of Asian mergers & acquisitions. Prior to relocating to Hong Kong in 2013, Jim was the managing partner of the firm’s Chicago office. Jim works with clients in all aspects of complex M&A, LBO and corporate governance situations with a particular focus on cross-border transactions involving Greater China and the United States.
Experience
- Represent Alibaba in numerous acquisition and investment transactions, including the US$1.4 billion take private of iKang Healthcare Group, a US$1.38 billion PIPE investment in ZTO Express, its controlling investment in Cainiao Global, and various strategic minority investments in companies such as SenseTime Group, Xiaopeng Motors, Megvii Technology, Ruhnn Holding, Qutoutiao, and others.
- Represented ASM Pacific Technology, a Hong Kong-listed electronics manufacturer, in its acquisition of TEL NEXX Inc.
- Represented Vivo Capital in the US$400 million consortium acquisition of Sinovac Biotech Ltd.
- Represented China Oceanwide in connection with its acquisition of International Data Group, Inc. and its subsidiaries, International Data Corporation, IDG Communications and IDG Ventures. Winner for “Deal of the Year” in 2017 by China Business Law Journal.
- Represented Qunar in connection with Ctrip’s acquisition of Baidu’s controlling stake in Qunar. Finalist for “M&A Deal of the Year” for 2016 by ALM China Law and Practice.
- Represented independent financial adviser to Sears Holdings in connection with the US$2.8 billion transaction to establish Seritage Growth Properties and effect the sale and leaseback of 235 Sears and Kmart stores.
- Representing the special committee of the board of directors of Taomee Holdings Limited in connection with a management-led going private proposal.
- Representing the independent financial adviser to the special committee of independent directors of NYSE-listed E-Commerce China Dangdang Inc. in connection with its US$380 million management-sponsored take private merger.
- Represented Symmetry Medical Inc. in the spin-off of its Symmetry Surgical business and US$450 million sale of its OEM Solutions business to Tecomet Inc., a portfolio company of Genstar Capital. Subsequently represented Symmetry Surgical in its US$140 million leveraged buyout by RoundTable Healthcare Partners.
- Represented The Blackstone Group in the US$625 million take-private of China-based, NASDAQ-listed Pactera Technology International Ltd.
- Represented The Blackstone Group in the acquisition of China-based Suzhou Xinrong-Best Medical Instrument Co., Ltd.
- Advised the Special Committee of Independent Directors of China-based, NASDAQ-listed ChinaEdu Corp. in connection with its privatization by members of the company’s management and McGraw-Hill Education.
- Advised TPG Growth in connection with the sale of Schiff Nutritional International Inc. to Reckitt Benckiser Group for US$1.4 billion.
- Represented Gentex Corporation in the US$700 million acquisition of the HomeLink® business from Johnson Controls, Inc.
- Represented Berkshire Partners and Greenbriar Equity Group in the sale of Electro-Motive Diesel to Caterpillar, Inc. for US$820 million.
Publications
- Quoted, “CFIUS' China scrutiny real but bias fears may be overplayed, lawyers say,” Mergermarket (November 28, 2017)
- “Congress Introduces Bill to Expand CFIUS’s Review Authority,” Ropes & Gray Client Alert (November 14, 2017)
- Quoted, “China’s Megadeals Fail to Offset Slowdown,”Financial Times (June 29, 2016)
- James T. Lidbury and Martin Crisp, “Demise of disclosure-only settlements? Delaware court outlines new regime,” International Law Office (March 9, 2016)
- Quoted, “Chinese pitch big M&A break-up fees, small stakes to allay U.S. regulatory fears,”Reuters (February 29, 2016)
- James T. Lidbury and Justin Voeks, “Prior parent corporation's settlement agreement does not apply to spun-off entity,” International Law Office (September 9, 2015)
- James T. Lidbury and Justin Voeks, “Dispute over accounting methodology is subject to arbitration procedures,” International Law Office (August 26, 2015)
- James T. Lidbury and Martin Crisp, “Court holds that common interest privilege governs pre-merger communications,” International Law Office's Corporate/M&A Newsletter (April 29, 2015)
- Co-author, “Oregon court refuses to enforce Delaware exclusive forum selection bylaw,” International Law Office (January 7, 2015)
- James T. Lidbury, C Thomas Brown and Christian J Westra, “Additional guidance on Kahn v M&F Worldwide Corp,” International Law Office (ILO) (November 12, 2014)
- James T. Lidbury and Martin Crisp, “Stockholder plaintiffs must allege "extreme" facts to sustain Revlon process claims,” International Law Office’s Corporate/M&A Newsletter (September 3, 2014)
- James T. Lidbury, “Court highlights liability for tortious interference by buyers and their officers,”International Law Office (ILO) (July 2014)
- James T. Lidbury and James C. Davis, “Earn-out obligations and defence costs,” International Law Office (ILO) (March 12, 2014)
- James T. Lidbury and James C. Davis, “Weak fairness opinion not an independent violation of Revlon duties,” International Law Office (ILO) (March 5, 2014)
- James T. Lidbury, Carl P. Marcellino and Christina Bergeron, “’Liquidity conflict’ rejected; 28% stockholder was not controlling stockholder,” International Law Office (ILO) (January 15, 2014)
- James T. Lidbury, Marko S. Zatylny and James C. Davis, “Fair price can trump unfair process,” International Law Office (ILO) January 15, 2014)
- James T. Lidbury and Jane D. Goldstein, “Process makes perfect,” International Law Office (ILO) (November 13, 2013)
- James T. Lidbury and Christian J. Westra, “The limits of Revlon,” International Law Office (ILO) (November 13, 2013)
- James T. Lidbury and Jane Goldstein, “Process makes perfect,” International Law Office (ILO) (November 13, 2013)
- James T. Lidbury and Jason Freedman, “The unconflicted board and Revlon duties,” International Law Office (ILO) (November 6, 2013)
- Quoted, “Law Firm Ropes & Gray Relocates M&A Co-Head to Asia,” The Wall Street Journal (November 1, 2013)
- Quoted, “Court favors private equity in steakhouse fight,” Fortune (August 21, 2013)