Simpson Thacher is representing affiliates of The Carlyle Group in connection with their acquisition of The TCW Group, Inc. (“TCW”) from Société Générale. Founded in 1971, TCW is a Los Angeles-based diversified asset management firm offering U.S. equities and fixed income, international and alternative strategies, with approximately $130 billion under management. The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2013. Financial terms were not disclosed.
Tags: Simpson Thacher & Bartlett LLP | New YorkShearman & Sterling Advises Sun Pharmaceutical on Merger with Taro Pharmaceutical
Shearman & Sterling is advising Sun Pharmaceutical Industries Ltd. (Sun Pharma) on its merger agreement with Taro Pharmaceutical Industries Ltd. (Taro). Upon completion of the merger, Taro will become a privately held company, will be wholly owned by affiliates of Sun Pharma, and its ordinary shares will no longer be traded on the New York Stock Exchange. The closing of the merger is subject to certain terms and conditions customary for transactions of this type.
Tags: Shearman & Sterling LLP | New YorkDavis Polk – Westar Energy, Inc. SEC-Registered Dribble-Out Offering and Forward Component
Davis Polk is advising Westar Energy, Inc. in connection with an SEC-registered dribble-out offering and related forward transactions as part of its existing $500 million continuous equity financing program. BNY Mellon Capital Markets, LLC, acted as the sales agent.
Tags: Davis Polk & Wardwell | New YorkDavis Polk – StanCorp Financial Group, Inc. $250 Million Notes Offering
Davis Polk advised Barclays Capital Inc., Goldman, Sachs & Co. and J.P. Morgan Securities LLC as joint book-running managers in connection with an offering by StanCorp Financial Group, Inc. of $250 million aggregate principal amount of 5% senior notes due 2022.
Tags: Davis Polk & Wardwell | New YorkDavis Polk Advises Ingram Micro on $300 Million Notes Offering
Davis Polk advised Ingram Micro Inc. on its SEC-registered debt offering of $300 million aggregate principal amount of senior notes due 2022. The offering was made through an underwriting syndicate led by Morgan Stanley & Co. LLC and RBS Securities Inc.
Tags: Davis Polk & Wardwell | New YorkChadbourne Represents Southern Cross Latin America Private Equity Fund IV, L.P. in Connection with Signing of Investment Agreement with Estrella International Energy Services Ltd.
Orrick Advises VanceInfo in US$875 Million All-Stock Merger with hiSoft Technology
Orrick, Herrington & Sutcliffe LLP is representing VanceInfo Technologies Inc. in its tax-free, all-stock merger of equals with hiSoft Technology International Limited, valued at US$875 million.
Tags: Orrick, Herrington & Sutcliffe, LLP | New YorkDavis Polk Advises Treasury on Its $5.75 Billion Offering of AIG Common Stock
Davis Polk advised the United States Department of the Treasury (Treasury) in connection with its offering of approximately 188.5 million shares of common stock of American International Group, Inc. (AIG), which included the full exercise of the underwriters’ over-allotment option, representing proceeds to Treasury of approximately $5.75 billion. AIG agreed to purchase approximately 98.4 million shares in the offering, representing approximately $3.0 billion of Treasury’s proceeds from the sale. The offering reduced Treasury’s remaining investment in AIG to approximately 871.1 million shares of common stock and reduced Treasury’s percentage ownership of AIG’s outstanding shares of common stock from 61% to approximately 53%.
Tags: Davis Polk & Wardwell | New YorkDavis Polk – Celgene Corporation $1.5 Billion Senior Notes Offering
Davis Polk advised J.P. Morgan Securities LLC, Merrill Lynch, Pierce Fenner & Smith Incorporated and Morgan Stanley & Co. LLC as joint book-running managers on an SEC-registered offering by Celgene Corporation of $500 million aggregate principal amount of its 1.9% senior notes due 2017 and $1 billion aggregate principal amount of its 3.25% senior notes due 2022.
Tags: Davis Polk & Wardwell | New YorkDavis Polk – Duff & Phelps Corporation Secondary Offering
Davis Polk advised Goldman, Sachs & Co. as the sole underwriter in connection with an SEC-registered secondary offering of 3,000,000 shares of Class A common stock of Duff & Phelps Corporation, of which 1,794,556 shares were sold by Vestar Capital Partners and its affiliates and 1,205,444 shares were sold by Shinsei Bank, Limited. The net proceeds of the offering were approximately $40 million. The Class A common stock is listed on the NYSE.
Tags: Davis Polk & Wardwell | New York