Michael Brellochs
Rechtsanwalt (Lawyer), Attorney-at-Law (New York), Partner
Michael Brellochs advises on M&A transactions and on corporate and capital markets law, including public takeovers, reorganizations, spin-offs, capital measures, squeeze-outs, delistings and joint ventures. He also assists clients on corporate governance matters and helps them deal with special situations (such as activism preparedness, ESG, capital markets compliance and crisis management). Michael frequently advises on transactions involving listed companies or financial institutions. He has extensive experience in multi-jurisdictional projects.
Projects
- Advising Daimler Truck AG on entering into a strategic alliance with Deutz AG on the development and distribution of heavy-duty engines and the contribution an IP portfolio for medium-duty engines in kind in return for the issuance of Deutz shares in the amount of 4,19%
- Advising Else Kröner-Fresenius-Foundation on the reorganisation of the Fresenius-Group
- Advising Rhône Group/Maxam on the sale of Spanish munitions manufacturer Expal Systems S.A. to Rheinmetall AG
- Advising two DAX companies on the strategic review of their Russian business operations
- Advising Brookfield Asset Management on the public takeover bid for alstria office REIT-AG
- Advising Befesa S.A. on the acquisition of US based AZR group and on a capital increase from authorized capital, involving a private placement with institutional investors, to fund the acquisition of AZR
- Advising a Big-5 tech company on a worldwide ESG survey to identify ESG-related risks
- Advising a DAX company on implications under stock corporation law in connection with ESG-related codes of conduct
- Advising RIB Software SE on the public takeover bid by Schneider Electric
- Advising Optima Group on the public takeover bid for InTiCa Systems AG
- Advising MassMutual on the sale of OppenheimerFunds Inc. to Invesco
- Advising Kering on reducing its share in Puma SE by means of a cross-border dividend in kind, Puma SE’s conversion from a one-tier to a two-tier board structure and selling Puma shares as part of an accelerated book building
- Advising Andritz AG on the squeeze-out under stock corporation law at Schuler AG after public takeover offer
- Assisting an MDAX company in the intragroup cross-border merger of a key subsidiary, involving 10 countries
- Advising Panasonic on the sale of Vossloh-Schwabe Group
- Advising an MDAX company in setting up an international matrix organisation
- Advising Generali Deutschland on a carve-out in connection with the sale of its life insurance business in Germany to Viridium
- Advising TKH Group N.V., Netherlands, on the acquisition of German-Italian company Lakesight Technologies Gruppe
- Advising ARAG on the sale of its life insurance business to Frankfurter Leben Group
- Advising Hollard International, South Africa, on setting up the joint venture “Social Impact Partners” with MunichRe
- Advising Augusta Technologie AG on a merger squeeze-out following the public takeover bid by TKH Group N.V.
- Advising HelloFresh GmbH on the company’s conversion into a stock corporation (AG) in preparation for its IPO
- Advising Underberg AG on the sale of Austrian listed company Gurktaler AG and the sale of 75% of the shares in Austrian listed company Schlumberger AG
Distinctions
- Recommended for M&A, Corporate and Securities Law, Legal 500 Germany, JUVE (in particular public takeovers and stock corporation law), Who's Who Legal, Handelsblatt / Best Lawyers, WirtschaftsWoche, IFLR 1000
- Leading advisor in Corporate Law under age of 50, JUVE Handbuch
- "Excellent expertise and counseling", client in JUVE Handbook 2023/24
- "Highly competent", competitor in JUVE Handbook 2023/24
- "Very competent, hands-on, pragmatic, pleasant working atmosphere", Client in Legal 500 2022
- "Outstanding expertise and experience, pragmatic solutions and skillful negotiations", Client in Legal 500 2021
- "The best of the younger partners at Noerr", competitor in JUVE Handbook 2020/2021
- "Well-known M&A lawyer with a strong practice advising listed companies and financial institutions in private and public M&A. Excellent work for insurance companies", Who's Who Legal 2019
- "One of the stellar, up-and-coming players", client in JUVE Handbook 2017/2018
Insights
Career
Legal studies in Freiburg i. Br., Heidelberg, Geneva, Strasbourg and Harvard (LL.M.)
Attorney-at-law with an internationally practicing law firm in Düsseldorf and Munich, focusing on M&A and corporate and capital markets law
With Noerr since 2013
Admitted to the Munich Chamber of Lawyers and the New York State Bar
Memberships
- Co-Editor of the Journal for Commercial and Business Law (Zeitschrift für das gesamte Handels- und Wirtschaftsrecht (ZHR))
- International Bar Association (IBA)
- Association of Corporate Law [Wissenschaftliche Vereinigung für Unternehmens- und Gesellschaftsrecht (VGR)]
- Harvard Law School Association of Germany
- German-American Lawyers’ Association (DAJV)
Lectures
- Expert in legislative matters regarding corporate and capital markets law for the Finance Committee of the German Bundestag, the Government Coalition and the German Federal Ministry of Finance
- Speaker on corporate and capital market law topics at various seminars and events, among others at BeckAkademie, Deutsches Aktieninstitut and the International Bar Association
Publications
- Habersack/Wicke (ed.), Umwandlungsgesetz, Sec. 138 - 146 UmwG (Demerger / spin-off of limited liability companies and stock corporations), 3. Aufl. 2023
- Habersack/Mülbert/Schlitt (Hrsg.), Handbuch der Kapitalmarktinformation, § 1 (Insider rules and prohibitions), 3rd Ed. 2020
- Klöhn (ed.), Marktmissbrauchsverordnung (EU Market Abuse Regulation), Art. 11 MAR (Market Soundings), 2nd Ed. 2023
- Seibt/Buck-Heeb/Harnos (Hrsg.), BeckOK WpHG, Kommentierung der §§ 40-43 WpHG (Emittentenpflichten im Zusammenhang mit Stimmrechtsmitteilungen, Investorenerklärung), 2021 (mit Philipp Buchs)
- Der Verzicht auf die Mindestannahmebedingung im Übernahmerecht, ZHR 186 (2022), p. 339 et seq. (mit Dirk Verse)
- Aktivistische Investoren - aktuelle Trends und Auswirkungen auf die Arbeit von Vorstand und Aufsichtsrat, ACI Quarterly, IV/2021, p. 8 ff.
- Short-Seller-Attacken im Fokus, Börsen-Zeitung 03/12/2021
- Institutionelle Investoren (ETF-Fonds, Versicherungen, Pensionskassen) im Gesellschafts- und Kapitalmarktrecht, ZHR 185 (2021), p. 319 et. seq.
- Neue BaFin-Vorgaben – Der neue Emittentenleitfaden der BaFin erleichtert Kapitalmarktkommunikation und Transaktionen, FAZ of 6 May 2020, p. 16
- Leerverkaufsangriffe - Anmerkungen aus Sicht der Praxis - Responsio, ZGR 2020, p. 319 et seq.
- Block-Trades und Paketverkäufe - insiderrechtliche Fragen beim Verkauf von Paketen börsennotierter Aktien, in: Klöhn/Mock (ed.), Festschrift 25 Jahre WpHG, 2019, p. 567 ff. et. seq. (mit Laurenz Wieneke)
- Expert opinion on BaFin Consultation No. 14/2019, Entwurf Emittentenleitfaden, Modul C, Regelungen aufgrund der Marktmissbrauchsverordnung, August 2019
- Konkretisierung des Acting in Concert durch den BGH, Kommentar zu BGH v. 25.9.2018 – II ZR 190/17, AG 2019, p. 29 et. seq.
- Zur Angemessenheit der Gegenleistung im Übernahmerecht - Besprechung von BGH, Urt. v. 7.11.2017 – II ZR 37/16 (McKesson/Celesio), ZGR 2018, p. 811 et. seq.
- Mehr Flexibilität bei prospektfreier Zulassung, Börsen-Zeitung 12/08/2017, p. 9
- Die Neuregelung der kapitalmarktrechtlichen Beteiligungspublizität – Anmerkungen aus Sicht der M&A- und Kapitalmarktpraxis, AG 2016, p. 157 et seq.
- Kapitalmarkt-Compliance in neuer Rolle, Börsen-Zeitung 07/11/2015, p. 9
- Neue Regeln für die Marktsondierung, ACI Quarterly, II/2015, p. 17 et seq.
- Delisting vor dem Neustart, Börsen-Zeitung 09/05/2015, p. 13
- Expert opinion in the hearing in the Finance Committee of the German Bundestag on 07/09/2015 on the government draft act to implement the EU Transparency Directive Amendment Directive, “Entwurf eines Gesetzes zur Umsetzung der Transparenzrichtlinie-Änderungsrichtlinie”, BT-Drucks. 18, p. 5010
- Der Rückzug von der Börse nach „Frosta“ - Rechtsdogmatische Einordnung, Durchführung und Rechtsschutz in zukünftigen Fällen, AG 2014, p. 633 et seq.
- Insider trading and the disclosure of inside information after Geltl/Daimler – A comparative analysis of the ECJ decision in the Geltl/Daimler case with a view to the future Market Abuse Regulation, CMLJ (2013) 8 (3), p. 283 et seq. (with Hartmut Krause)
- Insiderrecht und Ad-hoc Publizität bei M&A- und Kapitalmarkttransaktionen im europäischen Rechtsvergleich – ein Beitrag zum Begriff der Insiderinformation im kommenden EU Marktmissbrauchsrecht, AG 2013, p. 309 et seq. (with Hartmut Krause)
- Ad-hoc-Mitteilung auch über Zwischenschritte eines kursrelevanten Vorgangs, Anmerkung zu BGH, Beschl. v. 23.4. 2013 – II ZB 7/09 (Geltl/Daimler), ZIP 2013, p. 1165 et seq.
- Konzernrechtliche Beherrschung und übernahmerechtliche Kontrolle, NZG 2012, p. 1010 et seq.
- Die Auslegung der kapitalmarktrechtlichen Melde- und Zurechnungsnormen im Licht der BGH-Rechtsprechung, ZIP 2011, p. 2225 et seq.
- Publizität und Haftung von Aktiengesellschaften im System des Europäischen Kapitalmarktrechts, Bd. 103 der Schriften des Instituts für Arbeits- und Wirtschaftsrecht der Universität zu Köln, C. H. Beck 2005 (PhD thesis)