Shearman & Sterling Advises on WebMD’s $400 Million Convertible Notes Offering

Shearman & Sterling represented WebMD Health Corp. in connection with its Rule 144A offering of $400 million aggregate principal amount of its 2.50% Convertible Notes due 2018 (including $50 million aggregate principal amount of notes pursuant to the exercise in full of the initial purchaser’s over-allotment option). WebMD (Nasdaq: WBMD) is the leading provider of health information services, serving consumers, physicians, healthcare professionals, employers, and health plans through its public and private online portals, mobile platforms and health-focused publications. In connection with the offering, WebMD repurchased 1,920,490 shares of its common stock at a price of $52.07 per share and intends to use the remainder of the net proceeds for general corporate purposes.

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Fenwick & West Represents Qik in Acquisition by Skype

Fenwick & West LLP represented Qik, Inc., a provider of mobile video software and services that enable individuals to capture, instantly share and preserve great moments on video, in its recently announced acquisition by Skype, a communications platform provider based in Luxembourg. Financial terms of the acquisition, which is expected to close in January 2011, were not disclosed.

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Simpson Thacher Represents Special Committee of the Board of Directors of The Mosaic Company in Connection with Split-off of Cargill’s Stake in Mosaic

Simpson Thacher represents the Special Committee of the Board of Directors of The Mosaic Company (“Mosaic”) (NYSE: MOS) in connection with the split-off and distribution of Cargill’s 64% stake in Mosaic.  The transaction would result in the distribution of Cargill’s shares in Mosaic (286 million shares) to Cargill’s shareholders and debt holders.  The transaction involves a recapitalization of Mosaic’s stock followed by the split-off and orderly distribution of Mosaic shares over time.  The transaction is expected to benefit Mosaic by improving its long-term strategic and financial flexibility, as well as greatly increasing the liquidity of Mosaic’s common stock.

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Tags:  Simpson Thacher & Bartlett LLP