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.

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Davis 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.

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Davis 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.

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Ice Miller LLP welcomes veteran transactional attorney, Edward Braum, to its Columbus, Ohio, office. Braum, who joins the firm as a partner in the Business Group, focuses his practice on market leading complex business transactions, including mergers and acquisitions, leveraged buyouts and debt and equity investments.

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