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Ropes & Gray Represents General Catalyst in Joint Venture Acquisition of Intersections Inc.

Practices: Special Situations, Mergers & Acquisitions

Intersections Inc., a theft protection and privacy services company, and WC SACD One Parent, Inc., a new joint venture entity formed by General Catalyst, iSubscribed and WndrCo, have entered into a merger agreement for the acquisition of Intersections by WC SACD.

Under the terms of the merger agreement, a subsidiary of WC SACD will commence shortly an all-cash tender offer to acquire all of the issued and outstanding shares of Intersections for $3.68 per share. In connection with entry into the merger agreement, WC SACD, together with certain existing noteholders of Intersections (who exchanged their existing notes for the New Notes) acquired approximately $34 million of senior secured convertible notes of Intersections at a conversion price of $2.27 per share.

The Ropes & Gray team representing General Catalyst was led by special situations partner Sarah Schaffer Raux, mergers & acquisitions partner Jane Goldstein and associate Anthony Bernard.

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