8 June 2010 - Gide Loyrette Nouel advised Governance for Owners, the third-largest shareholder in Sperian Protection, on the proposed offers from Cinven and Honeywell:

Gide Loyrette Nouel has advised the funds managed by Governance for Owners LLP, the third-largest shareholder in Sperian Protection with close to 10% of its capital, on the proposed takeover bids from Cinven and Honeywell for the shares of Sperian Protection.

Governance for Owners is an independent partnership dedicated to adding long-term shareholder value by exercising owners' rights.

Governance for Owners was one of the main shareholders of Sperian to criticise the proposed takeover bid launched by Cinven on 31 March 2010 and the proposed price of EUR 70 per share which, in Governance for Owners' view, did not reflect the company's true potential. Governance for Owners has thus welcomed the announcement by Honeywell on 19 May 2010 of a counter-bid at EUR 117 per share.

Legal counsel to Governance for Owners:
Gide Loyrette Nouel A.A.R.P.I.: The team was led by Antoine Lelong, partner, M&A, with Mathilde Santerre, associate. Also involved were Youssef Djehane, partner, M&A, and Bruno Quentin, partner, Criminal and Commercial Litigation, with Laure Weymuller, associate.