Simpson Thacher is representing J.P. Morgan Securities LLC as financial advisor to Carpenter Technology Corporation  (“Carpenter”) in connection with its acquisition of Latrobe Specialty Metals, Inc. (“Latrobe”).  The transaction is valued at approximately $558 million, including $170 million in cash Carpenter will pay to eliminate Latrobe’s debt at closing and reimburse certain transaction costs.  As part of the transaction, 8.1 million shares of Carpenter stock, subject to certain adjustments, will be issued to the current owners including Hicks Equity Partners and The Watermill Group.  The transaction is expected to close by September 30, 2011.

It was recently announced that Willkie clients TPG Capital and Leonard Green & Partners have agreed to acquire substantially all of the assets of the Palms Casino Resort in Las Vegas. Following receipt of required regulatory approvals and upon consummation of the definitive transaction documents, affiliates of the private equity firms will contribute their approximately $440 million in secured debt in exchange for a controlling stake in the resort.

Allen & Overy has advised Axiom Limited, the UAE-based pan-GCC mobile handset retailer and distributor which trades under the Axiom Telecom brand, on the sale of a 35% shareholding interest to Mannai Corporation, a publicly listed company on the Qatar Exchange. 

The Allen & Overy team was led by Abu Dhabi based corporate partner Khalid Garousha, who was supported by corporate associates Michael Grace, Juliet Astbury and trainee Kate Hartley.

Davis Polk advised Pandora Media, Inc. on its $235 million initial public offering of common stock. The underwriting syndicate includes Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., William Blair & Company, L.L.C., Stifel, Nicolaus & Co, Incorporated and Wells Fargo Securities, LLC. The underwriters have an option to purchase an additional $35 million of common stock to cover over-allotments.

Covington & Burling LLP represented Morgan Stanley, financial advisor to Atlantic Power Corporation, in its acquisition of Capital Power Income L.P. in a deal valued at approximately C$1.1 billion. The transaction will create a leading North American contracted power generation platform with over 2,100 megawatts of capacity.

Leading international law firm Clifford Chance has advised APA Group on its acquisition of 100% of the Amadeus Gas Pipeline for approximately A$63 million.

Today, Susquehanna Bancshares, Inc. (Susquehanna) (NASDAQ:  SUSQ) and Tower Bancorp, Inc. (Tower) (NASDAQ: TOBC) announced the signing of a definitive agreement whereby Susquehanna will acquire all outstanding shares of Tower common stock in a stock and cash transaction.

Shearman & Sterling is advising IPSOGEN S.A. in its response to an offer by QIAGEN to purchase a 47% initial stake in IPSOGEN S.A. and subsequently make a voluntary public offer to acquire all of the outstanding shares of IPSOGEN S.A.

Mallesons Stephen Jaques has advised Horizon Oil Limited on its US$80 million convertible bond issue which will help fund the company’s acquisition of an oil block offshore of southern China.  Mallesons also advised Horizon on the early June acquisition. 

The bonds are to be listed on the Singapore Stock Exchange and have been issued to a broad spectrum of institutional investors predominantly in Europe and the Asia Pacific.