Herbert Smith Freehills has advised its longstanding client and leading European real estate portfolio and asset managers, AXA Real Estate Investment Managers (“AXA Real Estate”), on the letting of 165,000 square feet of space at its King’s Cross office development scheme to Google on a 15 year lease.
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Global law firm White & Case LLP has advised Zimmer Holdings, Inc. (NYSE and SIX: ZMH), a world leader in musculoskeletal health solutions, in its $13.35 billion acquisition of Biomet, Inc., one of the world’s leading medical device manufacturers. The transaction is expected to close in the first quarter of 2015. More >>
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Kirkland & Ellis LLP advised Furiex Pharmaceuticals, Inc. (NASDAQ: FURX), a drug development collaboration company, in its definitive agreement announced today to be acquired by Forest Laboratories, Inc. (NYSE: FRX) for $95 per share, or approximately $1.1 billion in cash, and up to $30 per share (or approximately $360 million) in Contingent Value Rights (CVR) that may be payable based on the status of eluxadoline, Furiex’s lead product, as a controlled drug following approval. The acquisition is subject to customary regulatory approvals and approval by Furiex shareholders. More >>
Tags: Kirkland & Ellis LLPLiberty Media Corporation (“Liberty”) (Nasdaq: LMCA, LMCB) today announced the completion of the final closing under the previously announced share repurchase agreement, dated as of October 9, 2013, between Liberty and Sirius XM Holdings Inc. (NASDAQ: SIRI) (“Sirius”). Pursuant to the agreement, Sirius had agreed to repurchase $500 million of its common stock from Liberty as part of Sirius’ share repurchase program. On April 25, 2014, Sirius purchased its final installment of shares, equal to 92,888,561 shares, at a previously established price per share of $3.66, for an aggregate purchase price of $340 million. More >>
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Covington & Burling represented Forest Laboratories in a definitive agreement to acquire Furiex Pharmaceuticals, a drug development collaboration company, for up to $1.46 billion. More >>
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Cravath represented Time Inc. in connection with its US$700.0 million high‑yield senior debt offering. Time Inc. is the largest magazine publisher in the United States based on both readership and print advertising revenue and the largest magazine publisher in the United Kingdom based on print newsstand revenues.
Tags: Cravath, Swaine & Moore LLPKirkland & Ellis LLP represented Insight Pharmaceuticals Corporation, a marketer and distributor of feminine care and other over-the-counter healthcare products, in its sale announced today to Prestige Brands Holdings, Inc.(NYSE:PBH) for $750 million in cash. Prestige Brands anticipates closing on this transaction during the first half of this fiscal year, subject to customary closing conditions, including clearance under the Hart-Scott Rodino Antitrust Improvements Act of 1976. Financing for the transaction is expected from a combination of cash on the balance sheet, use of Prestige’s revolving credit agreement, and an add-on to its existing term loan. More >>
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Milbank, Tweed, Hadley & McCloy LLP advised Google Inc. in its agreement with SunPower Corporation to invest a total of $250 million in a program to help homeowners finance residential solar power projects. Google is investing $100 million and San Jose, California-based SunPower is committing $150 million, which will permit thousands of homeowners to lease solar equipment from SunPower.
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O’Melveny & Myers LLP recently represented 1Verge Holdings Ltd. in connection with Alibaba Group’s US$1.22 billion investment in Youku Tudou Inc. (NYSE: YOKU), China’s leading Internet television company. 1Verge Holdings Ltd. is jointly owned by Victor Koo, the chairman and chief executive officer of Youku Tudou, and funds managed by Chengwei Evergreen Management, and is the largest corporate shareholder in Youku Tudou. More >>
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