Covington & Burling represented Salix Pharmaceuticals, Ltd. in its agreement to acquire Oceana Therapeutics, Inc., a privately held global provider of gastroenterology and urology therapeutics, for $300 million in cash.

Davis Polk advised Credit Suisse Securities (USA) LLC as the initial purchaser on a Rule 144A/Regulation S offering by Spectrum Brands, Inc., of $200 million aggregate principal amount of its 9.5% senior secured notes due 2018. The notes are guaranteed by Spectrum Brands’ immediate parent company and by certain of its subsidiaries and are secured by first-priority liens on substantially all of the assets (other than accounts receivable and inventory) of Spectrum Brands and the guarantors and by second-priority liens, behind Spectrum Brands’ $300 million asset-based revolving credit facility due 2014, on their accounts receivable and inventory.

Simpson Thacher recently represented Becton Dickinson & Company in a registered offering of $500 million 1.750% Notes due 2016 and $1.0 billion of 3.125% Notes due 2021.

Davis Polk advised Morgan Stanley Infrastructure in connection with the sale of its 50% interest in Inversiones Grupo Saesa Limitada to investment vehicles managed by Alberta Investment Management Corporation.