Raymarine - offers to acquire it or its business, its administration and sale of business operations

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Slaughter and May advised Raymarine plc, the marine electronics company. The company was in serious financial difficulties, being in breach of its banking covenants, and had received three offers from Garmin Limited (one of its principal competitors), Flir Systems Inc. and an unnamed third party to acquire it or its business. It was finally placed into administration by its banking syndicate on Friday 14 May 2010, and all of its business operations were sold to Flir Systems Inc. in a "pre-packaged" administration sale with the result that the banks were repaid in full and shareholders may expect a return of approximately 20p per share.

Corporate: Simon Robinson (partner), Andy Sword (associate), Michael Corbett (associate), Habibunnisha Patel (associate), Amy Hutchings (associate)

Restructuring and Insolvency: George Seligman (partner), Gemma Amer (associate), David Brighton (associate)

Tax: Gareth Miles (partner), William Watson (partner), James Hume (associate)