b'Transforming the corporate landscapeDespite the serious economic challenges presented by the GFC,of the firm for almost 200 years, but Allens had also advised Australia experienced twenty-nine years of uninterruptedSt.George Bank for many years (including on its conversion economic growth in the period between 1991 and 2020.from a building society to a bank and on the establishment Fuelled by a growing private equity market, an inflow ofof its takeover defence plans). The firm had promised to be overseas capital and a historically low cost of debt, Australiathere if ever a bid was made for St.George Bank and felt saw an increase in mergers and acquisitions and the rise ofprivileged to be part of bringing these two iconic Australian the mega-deallarge and complex transactions betweenbrands together.major global corporations. Allens played a crucial role in many of these transactions, which transformed AustraliasThe biggest deal that didnt happencorporate landscape.The proposed $165 billion merger between mining giants Rio Tinto and BHP, first mooted in 2007, would have been With the merger of Allen Allen & Hemsley and Arthurthe most significant transaction by value in global corporate Robinson & Hedderwicks, the firm had a deep talent poolhistory. Allens acted for Rio Tinto during an intense year and became an M&A powerhouse. The new Allens Arthurbefore the transaction was abandoned. Robinson was immediately recognised by the Australian Financial Review as the leading M&A firm in Australia Allens then assisted Rio Tinto to negotiate two alternative and New Zealand.transactions to strengthen the companys balance sheet following its earlier acquisition of Alcan, a strategic Going shopping partnership with Chinalco, and an iron ore joint venture Wesfarmerss $19.3 billion acquisition of Coles Group incombining BHP and Rio Tintos iron ore operations in the 2007 was, at the time, the biggest transaction in AustralianPilbara. Both attracted intense geopolitical interest and were corporate history, making Wesfarmers Australias largestultimately abandoned. retailer and private-sector employer. Allens advised Wesfarmers. It was a complex transaction due to its sheerChanging the face of global retailsize and debt market volatility at the time. Coless rejection ofThe $32.7 billion acquisition of Westfield Corporation by the initial Wesfarmers offer, and the launch of a competitiveUnibail-Rodamco was completed in 2018 and became bid process, added to the challenge. After successfullyAustralias largest corporate takeover. Extraordinary for its transforming Coles, Wesfarmers demerged the business size, legal complexity and intensity, the transaction created in 2018. This time Allens advised Coles. the worlds leading developer and operator of flagship shopping destinations. Allens advised Unibail-Rodamco Banking on a better future on the transaction. The transaction included the Lowy In 2008 the firm sat on the opposite side of the table to itsfamily selling its stake in the company that Sir Frank Lowy longstanding client Westpac during its $18.6 million mergerco-founded in 1959. The Allens team was based in Paris for with St.George Bank. Westpac had been an important clientan extended period to negotiate and implement the deal.228'