Kirkland & Ellis LLP represents Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY), which announced today it has signed a definitive agreement with International Rectifier Corporation (NYSE: IRF), under which Infineon will acquire International Rectifier for US$40 per share in an all-cash transaction valued at approximately US$3.0 billion. The closing of the transaction is subject to regulatory approvals in various jurisdictions and customary closing conditions, as well as approval of International Rectifier stockholders. The transaction is expected to close late in the calendar year 2014 or early in the calendar year 2015 subject to regulatory approval.
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Herbert Smith Freehills has advised China Telecom Global in relation to its role in a consortium which has agreed to build and operate a new Trans-Pacific submarine telecommunications cable worth approximately US$300 million.

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Cravath represented CBS Corporation in connection with its US$1.75 billion registered senior debt offering. The transaction closed on August 19, 2014.

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Cooley LLP announced today that it advised the underwriters on Otonomy, Inc.’s $100 million initial public offering. Otonomy is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapeutics for the treatment of diseases and disorders of the ear. The company now trades of The NASDAQ Global Stock Market under the symbol “OTIC.”

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On August 11, 2014, IBM announced it has acquired the business operations of Lighthouse Security Group, LLC, a premier cloud security services provider. Lighthouse Security Group is a subsidiary of long‑time IBM business partner Lighthouse Computer Services, Inc. Cravath represented IBM in connection with this transaction. Financial terms were not disclosed.

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Herbert Smith Freehills is pleased to be advising Commonwealth Bank of Australia (CBA) on its issue of CommBank PERLS VII Capital Notes and concurrent PERLS V Reinvestment Offer to raise approximately A$2 billion (with the ability to raise more or less) (Offer) announced on 18 August 2014.

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Simpson Thatcher is representing Dollar General Corporation (NYSE: DG) in connection with its announced proposal to acquire Family Dollar Stores, Inc. (NYSE: FDO) for $78.50 per share in cash, in a transaction valued at $9.7 billion. The combination would solidify Dollar General’s position as the largest small-box discount retailer in the U.S. with nearly 20,000 stores in 46 states and sales of over $28 billion.
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Skadden is advising Sensata Technologies Holding N.V. in the $1 billion acquisition by its wholly owned indirect subsidiary Sensata Technologies B.V. of the Schrader group of companies from Madison Dearborn Partners, LLC, announced August 18.
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