Morgan Lewis Advises Buckeye Partners on $850 Million Acquisition of Product Terminals from Hess

Friday, October 11, 2013

Buckeye Partners, L.P., a publicly traded master limited partnership that owns and operates one of the largest independent liquid petroleum products pipeline systems in the U.S., announced that it has signed a definitive agreement with Hess Corporation and its subsidiaries to acquire 20 liquid petroleum products terminals with total storage capacity of approximately 39 million barrels for $850 million. The acquisition, which is subject to regulatory approvals and customary closing conditions, is expected to close before year-end.

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Tags:  Morgan, Lewis & Bockius LLP

Simpson Thacher Represents First Reserve Corporation in its Investment in American Energy – Utica, LLC

Friday, October 11, 2013

Simpson Thacher is representing First Reserve Corporation in connection with its equity investment in an aggregate $1.7 billion fund-raising by American Energy – Utica, LLC (“AEU”). The proceeds of the fund-raising will be used by AEU to pursue a business plan focused on the Utica Shale play in eastern Ohio, including acquiring acreage of leaseholds and financing drilling operations which are expected to commence in the fourth quarter of 2013.

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Tags:  Simpson Thacher & Bartlett LLP | New York

Simpson Thacher Represents Melrose Industries PLC on the Sale of its Crosby and Acco Divisions

Friday, October 11, 2013

The Firm is representing Melrose Industries PLC (“Melrose”), a UK based FTSE 100 company, on the sale of The Crosby Group (“Crosby”) and Acco Material Handling Solutions (“Acco”) to Kohlberg Kravis Roberts & Co. L.P. for an enterprise value of US$1.01 billion. Crosby and Acco manufacture and sell hooks, slings, hoists and other lifting and rigging equipment used in, amongst other things, the oil, gas, mining and manufacturing industries.

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Tags:  Simpson Thacher & Bartlett LLP

Baker Botts Represents the Energy & Minerals Group in its Investment in American Energy – Utica, LLC

Thursday, October 10, 2013

American Energy – Utica, LLC (“AEU”), an affiliate of American Energy Partners, LP, raised approximately $1.7 billion in private equity commitments and term loan proceeds to pursue a business plan focused on the Utica Shale. AEU’s lead equity investor is The Energy & Minerals Group based in Houston, and additional equity was provided by First Reserve Corporation based in Greenwich, CT and others. The term loan facility was led by GSO Capital Partners based in New York and additional debt investors, including Magnetar Capital and BlackRock, Inc.

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Tags:  Baker Botts L.L.P. | Austin

Willkie Represents Men’s Wearhouse in Rejection of $2.3 Billion Buyout Bid

Thursday, October 10, 2013

On October 9, Willkie client Men’s Wearhouse announced that after careful evaluation its Board of Directors has determined to reject a $2.3 billion buyout bid from men’s apparel retailer Jos. A Bank Clothiers, Inc. As widely reported in the press, the Board concluded that the unsolicited, non-binding proposal of $48 per share “undervalues Men’s Wearhouse and its strong prospects for continued growth and value creation, and is not in the best interests of Men’s Wearhouse or its shareholders.” Founded in 1973, Houston-based Men’s Wearhouse is one of North America’s largest specialty retailers of men’s apparel with 1,137 stores. Based in Hampstead, MD, Jos. A Bank has over 600 stores nationwide.

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Tags:  Willkie Farr & Gallagher LLP | New York

Venable Announces Opening of San Francisco Office with Veteran Bay Area Attorneys

Thursday, October 10, 2013

Venable LLP, one of the nation’s oldest and most respected law firms, announced today that it has opened a second West Coast office in San Francisco.  Currently, the firm has offices in Washington, DC; Baltimore, MD; New York, NY; Tysons Corner, VA; Wilmington, DE; and Los Angeles, CA.  The San Francisco office will serve the needs of the firm’s Northern California client base and other clients’ needs throughout the Bay Area.

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Tags:  Venable LLP | San Francisco