Salix Pharmaceuticals, Ltd., and Santarus, Inc. announced today that the companies have entered into a merger agreement where Salix will acquire all of the outstanding stock of Santarus for $32 in cash per share, for a total value of approximately $2.6 billion. Covington & Burling LLP is advising Salix on both the acquisition and financing aspects of the transaction.
Tags: Covington & Burling LLP
Simpson Thacher represented Crestwood Midstream Partners LP (“Crestwood”) and Crestwood Midstream Finance Corp. as co-issuers in connection with a Rule 144A/Regulation S offering of $600 million aggregate principal amount of 6.125% Senior Notes due 2022, guaranteed by each of Crestwood’s existing and future domestic subsidiaries that guarantee any indebtedness for borrowed money.
Tags: Simpson Thacher & Bartlett LLP | New York
Brown Rudnick LLP is pleased to announce that Robert C. Funsten has joined the firm’s Orange County office as a partner and co-chair of the Global Life Sciences Group. Prior to joining Brown Rudnick, Mr. Funsten was a partner and co-chair of Bingham’s Life Sciences Practice.
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On November 6, 2013, Toll Brothers, Inc., the nation’s leading builder of luxury homes, and Shapell Industries, Inc., a premier private California builder, announced that they have entered into a definitive purchase agreement under which Toll Brothers will acquire the home building business of Shapell in a stock acquisition for approximately US$1.6 billion in cash. Cravath represented Toll Brothers, Inc. in connection with this transaction, which is expected to close in the first quarter of 2014 following satisfaction of customary closing conditions.
Tags: Cravath, Swaine & Moore LLP | New York
Paul Hastings advised Astorg Partners in connection with the sale of OGF, a French leader in funeral services, to funds managed by Pamplona Capital Management, an investment company. This transaction was the second-largest LBO acquisition in France in 2013.
Tags: Paul Hastings, LLP
Hunton & Williams (Thailand) Limited continues its focused expansion in key practice areas, adding partner Chinawat Assavapokee to its global corporate, energy and infrastructure practice from Baker & McKenzie. Mr. Assavapokee brings more than 15 years of experience in tax planning advice with respect to cross-border business transactions, including corporate income tax, import and excise duties, privatization plans, and tax planning and structures for a wide range of inbound investment projects. He joins Hunton & Williams’ 50-lawyer Bangkok office, the center of the firm’s Asia-Pacific practice that includes energy and infrastructure development, M&A and capital markets, finance, banking and lending regulations, stock market regulations, securities, tax, government regulations, and foreign direct investment matters.
Tags: Hunton Andrews Kurth LLP
Davis Polk advised Hitachi, Ltd. as the selling stockholder in connection with an SEC-registered secondary offering of 12,500,000 shares of Western Digital Corporation common stock. Goldman, Sachs & Co. and BofA Merrill Lynch acted as lead book-running managers and J.P. Morgan Securities LLC acted as joint book-running manager for the offering. The total net proceeds to Hitachi from the offering were approximately $810 million.
Tags: Davis Polk & Wardwell LLP | TokyoDavis Polk advised underwriters represented by Goldman Sachs International, HSBC Securities (USA) Inc., Mizuho International plc and RBC Capital Markets, LLC in connection with the offering of $1 billion aggregate principal amount of 0.625% U.S. dollar bonds due 2016, issued by Export Development Canada.
Tags: Davis Polk & Wardwell LLP | New YorkDavis Polk advised underwriters represented by Deutsche Bank AG, London Branch, Goldman, Sachs & Co., Société Générale and UniCredit Bank AG in connection with a public offering by International Business Machines Corporation of €1.5 billion principal amount of its 1.875% notes due 2020 and €1 billion principal amount of its 2.875% notes due 2025.
Tags: Davis Polk & Wardwell LLP | New York
Steptoe & Johnson LLP is pleased to announce that Paul Charlton, the former US attorney for the District of Arizona, has joined the firm as a partner. He will be based in the Phoenix office and will practice in Steptoe’s Commercial Litigation and White-Collar Criminal Defense Groups.
Tags: Steptoe & Johnson PLLC | Phoenix