Kane Kessler, Mayer Brown Guide $890M Bioplastics Merger

Law360 (October 5, 2020, 10:12 PM EDT) -- Represented by Kane Kessler PC, bioplastics manufacturer Danimer said Monday it's merging with Mayer Brown LLP-led blank-check company Live Oak in a deal that values the combined company at $890 million.

Bainbridge, Georgia-based Danimer Scientific said in a joint statement that it's merging with Great Falls, Virginia-headquartered Live Oak Acquisition Corp. in order to help the biodegradable plastics business be publicly traded on the New York Stock Exchange and expand its production capacity.

In addition to the merger, funds affiliated with Live Oak, Apollo Global Management Inc. and Federated Hermes Inc. have also committed to investing $210 million in Danimer simultaneous...

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