On June 26, longtime Willkie client Loral Space & Communications Inc. announced it has entered into a definitive agreement to sell wholly owned subsidiary Space Systems/Loral, Loral’s satellite manufacturing unit, to Canada-based MacDonald, Dettwiler and Associates Ltd. for $875 million and cash dividends and other payments from SS/L which are expected to be in excess of $135 million. Headquartered in New York City, Loral is a world-class leader in the design and manufacture of satellites and satellite systems for commercial and government applications, including fixed satellite services, direct-to-home television, broadband communications, wireless telephony, weather monitoring and air traffic management. MDA delivers a broad spectrum of information solutions, including complex operational systems, tailored information services and electronic information products for business and government organizations worldwide.

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Davis Polk advised IHS Inc., as issuer, and Conscientia Investment Limited, as selling stockholder, on the SEC-registered secondary offering by the selling stockholder of 10,000,000 shares of Class A common stock, for an aggregate price to public of $1 billion. Goldman, Sachs & Co. acted as underwriter.

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Shearman & Sterling advised Bank of America, N.A. as administrative agent, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC as joint book managers and joint lead arrangers and Barclays Bank PLC and J.P. Morgan Securities LLC as joint lead arrangers in connection with a $1.8 billion term loan financing for Watson Pharmaceuticals, Inc. related to its acquisition of Actavis Pharma Holding 4 ehf. and Actavis Inc.

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Shearman & Sterling advised Legg Mason, Inc. as borrower under a $1 billion aggregate financing, including a $500 million five-year term loan and a $500 million five-year revolving credit facility agented by Citibank, N.A.

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