Legend is an ASX-listed Australian engineering solutions provider that operates in the electrical, power, rail, mining, information technology, telecommunications, defence, medical, industrial and commercial gas industries.

On 24 May 2019, Legend announced that it had entered into a scheme implementation agreement with Adamantem Capital under which Adamantem Capital will acquire 100% of the shares in Legend by way of a scheme of arrangement. Legend shareholders are being offered a cash price of $0.365 per share representing a 22.1% premium to the one-month volume-weighted average price of Legend's shares. The deal values Legend’s fully diluted equity at approximately $79.6 million and implies an enterprise value of A$100.6 million.

The transaction has received early support from Thorney Investment Group, who holds a 16% shareholding in Legend and who have indicated that in principle, it supports the transaction, subject to there being no superior offer and its review of the upcoming independent expert's report.

"We are delighted to be assisting Legend on this important transaction which represents a compelling exit opportunity for shareholders in a landscape of relatively low liquidity and trading volumes, and a significant milestone for the growth of Legend under private ownership," said Keith Tan, Special Counsel who led the MinterEllison team, alongside Alberto Colla (Partner), Elissa Romanin (Partner) and Robert Yunan (Special Counsel).