Michael Ziegelaar

Partner

Melbourne, Australia

Michael Ziegelaar is Co-Head of Herbert Smith Freehills’ Australian Equity Capital Markets Group and is one of Australia’s most sought-after lawyers for equity capital market and M&A transactions.

Michael specialises in fundraisings, mergers and acquisitions, restructures, funds management and corporate governance. He is focused on delivering strong outcomes for clients and has worked on some of Australia’s largest corporate transactions.

Clients praise Michael as having a reputation for being “always available, flexible, focused on outcomes for the client and able to cut to the heart of any issue in any negotiation… [combining] strong emotional sense with exceptional technical knowledge” (Chambers Global).

Michael was awarded the 2024 Mergers and Acquisitions Partner of the Year (Lawyers Weekly) and the 2024 Partner of the Year Excellence Award (Lawyers Weekly), an award given to the highest-scoring partner of the Lawyers Weekly award finalists. He is also a finalist in the Australasian Lawyer’s Dealmakers of the Year awards.

Michael was also named in the Top 10 M&A Lawyers for APAC in Datasite’s 2023 Dealmakers League report and as a Leading Corporate Lawyer in Doyles Guide 2023.

Background

Michael graduated from Monash University in 1990 with a Bachelor of Laws (Honours) and Bachelor of Economics and obtained a Master of Laws in 1995.

Michael is a non-executive director of Seven West Media Limited and a Director of the Burnet Medical Research Institute.

Experience & expertise

Selected matters

Capital Markets

Michael has worked on some of the largest IPOs in Australia (market capitalisation at time of listing):

Aconex ($295 million)
Alliance Aviation Services ($150 million)
Carbon Revolution ($331 million)
Japara Healthcare ($710 million)
Light & Wonder ($8.5 billion foreign exempt listing on the ASX)
Mitula Group ($155 million)
Myer ($2.4 billion)
Netwealth ($880 million)
Pacific Brands ($1.1 billion)
Pact Group ($1.12 billion)
Promina ($2.09 billion)
Regis Healthcare ($1.2 billion)
Reliance Worldwide ($1.3 billion)
Medibank Private ($5.9 billion)
Telstra 1 ($14.2 billion), Telstra 2 ($16.0 billion), and Telstra 3 ($15.4 billion))
Transurban ($500 million)

Michael has also worked on numerous pre-IPO capital raisings, secondary raisings and advised many underwriters.

Mergers and Acquisitions

Michael has advised on a number of significant takeovers, schemes of arrangement and negotiated acquisitions (publicly available transaction values in brackets):

Aconex on its acquisition by Oracle by scheme of arrangement ($1.6 billion)
Aesop on its sale of a 65% stake to Natura Cosmeticos by negotiated acquisition
Alliance Aviation Services on its proposed acquisition by Qantas by scheme of arrangement ($764.5 million)
a bidder in the sale process for the NSW Government’s Land and Property Information privatisation
a bidder in the sale process for the SA Government’s Land Titles and Valuations Office privatisation
Bondi Sands on its acquisition by Kao Corporation by negotiated acquisition ($431 million)
Carbon Revolution on its merger with Twin Ridge Capital Acquisition Corp, recapitalisation and listing on Nasdaq by way of a deSPAC transaction (US$200 million)
Chemist Warehouse on its reverse IPO and proposed backdoor listing on the ASX into Sigma ($8.8 billion)
Growthpoint Properties Australia on its acquisition of Rabinov Property Trust by takeover ($48.4 million)
Growthpoint Properties Australia on its contested takeover of the ASX-listed GPT Metro Office Fund ($321 million)
HMC Capital on its acquisition of Payton Capital ($127.5 million);
iProperty on its acquisition by REA Group by scheme of arrangement ($750 million)
Japara Healthcare on its acquisition by Calvary by scheme of arrangement ($380 million)
Mitula Group on its acquisition by LIFULL by scheme of arrangement ($187 million)
National Bus Company on its acquisition by Ventura Motors by negotiated acquisition ($45 million)
Newmark REIT on its off-market takeover bid by Bunnings Warehouse Property Trust ($250 million)
Pacific Century CyberWorks on its mobiles joint venture with Telstra (US$3.3 billion)
Pact Group on its sale of 50% of its Supply Chain Solutions business to Morrison & Co ($380 million)
Pact Group on its takeover bid by Kin Group ($290 million);
Quadrant PE on its investment in Canva
Quadrant PE on its acquisition of Birch & Waite
Reliance Worldwide on its acquisition of John Guest Holdings by negotiated acquisition ($1.22 billion)
Reliance Worldwide on its acquisition of Holman Industries by negotiated acquisition ($160 million)
Total Tools on its acquisition by Metcash by negotiated acquisition ($101.5 million)
Vision Sphere on the merger of the Royal Victorian Institute for the Blind, Vision Australian Foundation and the Royal Blind Society of New South Wales by scheme of arrangement