The London antitrust, regulatory and competition team at international legal practice Norton Rose LLP has been successful in preventing its client PayPoint plc from being subjected to anti-competitive practices by the National Lottery operator Camelot.

Shearman & Sterling represented Francisco Partners in its sale of AdvancedMD Software, Inc. to Automatic Data Processing, Inc. (ADP). Terms of the transaction were not disclosed.

Davis Polk advised Telefónica, S.A. and Telefónica Emisiones, S.A.U. on the SEC-registered $2.75 billion aggregate principal amount off-the-shelf note offering by Telefónica Emisiones, S.A.U., fully guaranteed by Telefónica, S.A. The offering consisted of $1.25 billion principal amount of 3.992% senior notes due 2016 and $1.5 billion principal amount of 5.462% senior notes due 2021. 

On March 1, 2011, Judge Richard Seeborg of the U.S. District Court for the Northern District of California granted defendants’ motions and dismissed all claims in the securities class action litigation including claims relating to the paired April 29, 2009 public offerings of SunPower Corporation’s Class A Common Stock shares and 4.75% Senior Convertible Debentures due 2014. The order is Plichta v. SunPower Corp., Lead Case No. C 90-5473 RS (N.D. Cal. Mar. 1, 2011).

The Firm is leading the representation of PPL Corporation and its UK subsidiaries in their acquisition of the Central Networks electricity distribution business from E.ON UK plc.  PPL, through its U.K. subsidiaries, is acquiring Central Networks for approximately £3.5 billion ($5.6 billion) in cash with £500 million ($800 million) of existing public debt to remain outstanding after completion of the transaction.  PPL and E.ON expect to close the transaction in early April.  In addition, the firm assisted PPL in connection with arranging a committed bridge facility in the approximate amount of $5.8 billion from Bank of America Merrill Lynch and Credit Suisse to be used as a temporary financing facility pending the execution of permanent financing.  PPL currently intends to permanently finance the transaction through a combination of the proceeds of security issuances in the US and debt issuances in the UK.  This challenging UK transaction, funded by a financing facility arranged in the US, was led by the firm’s London office.

International law firm Freshfields Bruckhaus Deringer has advised Cattles plc (Cattles) and its group on its successful c£3bn restructuring.

Ashurst advised PPL Corporation, the US energy company, on the competition law and regulatory aspects of its £3.5 billion (US$5.6 billion) acquisition of Central Networks, the UK regulated electricity distribution businesses for the Midlands, from E.On. PPL will also assume £500 million of existing debt in Central Networks.

International law firm Weil, Gotshal & Manges is currently advising the management team of the Dometic Group (“Dometic”) in connection with the offer by EQT V to acquire Dometic from a consortium of its lenders (constituting 70% of the shareholders), the board of directors, and the management team (constituting 30% of the shareholders). The team is being led by London partner Mark Soundy, assisted by Simon Burrows.

Yesterday Amerigon Europe GmbH (Amerigon) announced the plan to offer to acquire bearer shares from shareholders of W.E.T. Automotive Systems AG (W.E.T.) in an all-cash voluntary public takeover offer. The transaction is subject to the approval of the respective antitrust authorities. The bidder and the majority shareholders of W.E.T. have entered into an agreement (the SPA) comprising either the direct sale of the shares to the bidder or their tender into the takeover offer. The SPA is subject to the approval of the competent corporate bodies as well as other conditions. The takeover offer is made in connection with the execution of a Business Combination Agreement between Amerigon and W.E.T. Amerigon is advised by the international law firm Milbank, Tweed, Hadley & McCloy LLP regarding all non-US corporate, tax and antitrust law aspects of the acquisition.

Davis Polk advised underwriters represented by J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated in connection with the offering of $1.7 billion aggregate principal amount of notes issued by McKesson Corporation. The notes were offered in three tranches maturing in 2016, 2021 and 2041.