Simpson Thacher Represents Mining Machinery Limited in Resolution of Outstanding Issues with Caterpillar, Inc.

On May 16, 2013, Simpson Thacher client Mining Machinery Limited (“MML”) and Caterpillar, Inc. resolved all outstanding issues arising out of Caterpillar’s June 2012 acquisition of Zhengzhou Siwei, a leading manufacturer of hydraulic roof supports used in the mining industry in China. After it acquired Siwei, Caterpillar alleged that it had uncovered deliberate accounting misconduct and recorded a $580 million goodwill impairment charge in the fourth quarter of 2012. Simpson Thacher represented Emory Williams and John Lee, former directors of Siwei’s parent company and two of the leading entrepreneurs in China, and MML and James Thompson III, two other parties with an interest in the settlement, in responding to Caterpillar’s allegations. The parties have now entered into an agreement under which they exchanged releases, certain payments owed by Caterpillar were reduced, and an entity affiliated with MML has been given the right to purchase certain assets from Caterpillar. In addition, Caterpillar publicly stated that it had found no evidence that any of Simpson Thacher’s clients had engaged in any accounting misconduct.

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Tags:  Simpson Thacher & Bartlett LLP | Beijing

Simpson Thacher Represents Seagate Technology in $1.0 Billion Senior Notes Offering and Related Tender Offer

The Firm represented Seagate Technology plc (“Seagate”) in connection with its Rule 144A and Regulation S offering of $1.0 billion aggregate principal amount of 4.75% Senior Notes due 2023. The notes were issued by Seagate HDD Cayman, a wholly-owned subsidiary of Seagate, and guaranteed by Seagate. Morgan Stanley, BofA Merrill Lynch and BNP Paribas acted as joint-lead and joint bookrunning managers of the offering.

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Tags:  Simpson Thacher & Bartlett LLP | Silicon Valley

Kaufman Dolowich & Voluck Expands NYC and NJ Practices; Gino Zonghetti Named Managing Partner of New Jersey Office

Kaufman Dolowich & Voluck, LLP (KDV), a leading national law firm, today announced attorneys and staff of Kenny & Zonghetti LLC, a diverse litigation and corporate firm with offices in New York City and New Jersey, will join KDV. Gino Zonghetti, a veteran admiralty, employment practices liability  and professional liability attorney, and former assistant district attorney in the Manhattan District Attorney’s office, will join as an equity partner and serve as managing partner of the firm’s New Jersey office.

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Tags:  Kaufman Dolowich LLP

Cooley Represents Websense in its $1 Billion Acquisition by Vista Equity

Cooley LLP announced today that it represented Websense, Inc. in its approximately $1 billion acquisition by Vista Equity Partners. Websense is a global leader in protecting organizations from the latest cyber attacks and data theft, and Vista is a leading private equity firm focused on investments in software, data and technology-enabled businesses.

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Tags:  Cooley LLP

Kaye Scholer Represents Bank of America Merrill Lynch and J.P. Morgan in $1.5B Hospitality Financing for Wyndham

Kaye Scholer represented Bank of America, N.A., as administrative agent, JPMorgan Chase Bank, N.A., as syndication agent and J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as joint lead arrangers, in a $1.5 billion revolving multicurrency credit facility extended to Wyndham Worldwide Corporation, one of the world’s largest hospitality companies.

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Tags:  Arnold & Porter Kaye Scholer LLP | New York