Davis Polk is advising Metalmark Capital in connection with the $550 million sale of Tegrant Corporation, a Metalmark portfolio company, to Sonoco Products Company. The acquisition is expected to close in November 2011.

Simpson Thacher is representing J.P. Morgan Securities LLC as lead arranger and bookrunner in connection with the $1.7 billion committed financing for the $2.7 billion acquisition of Complete Production Services, Inc. by Superior Energy Services, Inc.  The merger is expected to be completed during the fourth quarter of 2011.

Proskauer announced the expansion of its Bankruptcy & Restructuring Group and global Corporate Department with the addition of Geoffrey T. Raicht as a Partner in the New York office.

McKenna Long & Aldridge LLP (MLA) announced today that Peter A. Cross, a commercial litigator with more than 35 years of experience, has joined the firm as a partner in its New York office.  Cross’ practice encompasses business arbitration and mediation and entertainment and media law.

The Firm is representing ITT Corporation in connection with its spin-off of Exelis Inc., ITT’s Defense and Information Solutions business, and Xylem Inc., ITT’s Water Technology and Services business. On October 5, 2011 the ITT Board of Directors approved the distribution to its shareholders of all the outstanding shares of Exelis and Xylem. Under the approved plan, each ITT shareholder of record will receive one share of Exelis common stock and one share of Xylem common stock for each share of ITT common stock held as of the close of business on October 17, 2011. The Board also approved a 1:2 reverse stock split for ITT, which will become effective after market close on October 31, 2011, the distribution date for the spin-offs. Following the spin-offs, all three companies will be listed on the New York Stock Exchange.