Davis Polk advised J.P. Morgan Securities LLC and Goldman, Sachs & Co. as joint book-running managers on a Rule 144A offering by Lam Research Corporation of $450 million aggregate principal amount of 0.5% convertible senior notes due 2016 and $450 million aggregate principal amount of 1.25% convertible senior notes due 2018. In addition, Davis Polk advised an affiliate of J.P. Morgan Securities LLC and Goldman, Sachs & Co. as counterparties to convertible note hedge and warrant transactions with Lam Research Corporation in connection with the convertible senior notes offering.

Headquartered in Fremont, California, Lam is a leading supplier of wafer fabrication equipment and services to the worldwide semiconductor industry.

The Davis Polk corporate team included partner Alan F. Denenberg and associates Jeffrey Gould and Nicholas J. Dashman. The equity derivatives team included partner Mark M. Mendez and associate Derek Dostal of the New York office. Partner Rachel D. Kleinberg and associate M. Ryan LaRosa provided tax advice. Associates Vishnu Reddy and Daniel J. Ray (New York office) provided intellectual property advice. Counsel Loyti Cheng and associate Adam Riedel, both of the New York office, provided environmental advice. Cari M. Hebel was the legal assistant on the transaction. Except as noted above, all members of the Davis Polk team are based in the Menlo Park office.