Simpson Thacher Represents Cadence Bancorp, LLC in Acquisition of Encore Bancshares, Inc.

Thursday, March 8, 2012
The firm is representing Cadence Bancorp, LLC in its acquisition of Encore Bancshares, Inc. for $20.62 per share.  The transaction was announced on March 6, 2012 and reflects a total value of approximately $250 million.  Encore Bancshares, Inc. is a financial holding company headquartered in Houston, Texas, that provides banking, investment management, financial planning and insurance services to privately-owned businesses, professional firms, investors and affluent individuals.  Cadence Bancorp, LLC is a bank holding company that was formed in 2010 to invest in community banks.  Cadence Bancorp, LLC is also headquartered in Houston, Texas.

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Tags:  Simpson Thacher & Bartlett LLP | New York

Gardere Represents BP in Sale of Hugoton Basin Properties to LINN Energy, LLC

Wednesday, March 7, 2012
Gardere Wynne Sewell LLP represented BP America Production Company (NYSE:BP) in its $1.2 billion sale of Hugoton Basin properties to an affiliate of LINN Energy, LLC (Nasdaq:LINE) in a transaction that was signed Feb. 28, 2012. Included in the sale are the Jayhawk gas processing plant located in Hugoton, Kansas and BP’s interest in approximately 2,400 wells in the Hugoton natural gas field. Completion of the sale remains subject to customary regulatory approvals and conditions. The acquisition is expected to close in March 2012.

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Tags:  Foley & Lardner LLP | Houston

Davis Polk Advises PepsiCo, Inc. on Its $2.75 Billion Notes Offering

Wednesday, March 7, 2012
Davis Polk advised PepsiCo, Inc. on its registered offering of $750 million aggregate principal amount of 0.75% senior notes due 2015, $1.25 billion aggregate principal amount of 2.75% senior notes due 2022 and $750 million aggregate principal amount of 4% senior notes due 2042. Goldman, Sachs & Co., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint book-running managers for the offering.

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Tags:  Davis Polk & Wardwell LLP | New York

Simpson Thacher Represents KKR in Formation of Oil and Gas Platform with Chesapeake

Wednesday, March 7, 2012
The Firm is representing Kohlberg Kravis Roberts & Co. L.P. (“KKR”) in the formation of a partnership with Chesapeake Energy Corporation (“Chesapeake”) to invest in mineral interests and royalty interests in key oil and gas basins in the United States. KKR and Chesapeake will make an initial combined $250 million commitment to the partnership. Chesapeake will contribute 10% of the total commitment and will receive a promoted interest in the partnership.  KKR and Chesapeake will jointly oversee the partnership while Chesapeake will source, acquire and manage the royalty investment opportunities.

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Tags:  Simpson Thacher & Bartlett LLP | Houston