Ropes & Gray advised Cubist Pharmaceuticals, Inc. in its acquisition by Merck, which agreed to acquire Cubist for $102 per share in cash. The total transaction value, including debt, is approximately $9.5 billion. Cubist, a leading global biopharmaceutical company based in Lexington, Mass., focuses on the research, development and supply of antibiotics to treat infections caused by a broad range of drug-resistant bacteria. The deal was announced Dec. 8. More >>
Tags: Ropes & Gray LLP | Boston
Shearman & Sterling represented Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBC Capital Markets, LLC and Scotia Capital (USA) Inc., as joint book-running managers, and BMO Capital Markets Corp., CIBC World Markets Corp., AltaCorp Capital Inc., BNP Paribas Securities Corp., National Bank of Canada Financial Inc., TD Securities (USA) LLC, ANZ Securities, Inc., Mitsubishi UFJ Securities (USA), Inc., Mizuho Securities USA Inc. and RBS Securities Inc. as co-managers, in connection with Agrium Inc.’s (“Agrium”) offering of US$500,000,000 aggregate principal amount of 5.250% debentures due 2045. More >>
Tags: Shearman & Sterling LLP | Palo Alto | TorontoDavis Polk advised Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC as joint book-running managers on a Rule 144A/Regulation S offering by Medtronic, Inc. of $17 billion aggregate principal amount of notes. The notes were issued in seven tranches: $500 million aggregate principal amount of floating-rate senior notes due 2020, $1 billion aggregate principal amount of 1.500% senior notes due 2018, $2.5 billion aggregate principal amount of 2.500% senior notes due 2020, $2.5 billion aggregate principal amount of 3.150% senior notes due 2022, $4 billion aggregate principal amount of 3.500% senior notes due 2025, $2.5 billion aggregate principal amount of 4.375% senior notes due 2035 and $4 billion aggregate principal amount of 4.625% senior notes due 2045. The offering is tied for the second-largest corporate bond offering on record and represents the largest corporate bond offering of 2014 to date. More >>
Tags: New York
The law firm of Gray Plant Mooty today announced it is opening an office in Fargo, N.D., reflecting the Minneapolis-based firm’s intention to extend its ongoing momentum in North Dakota. It signed a one-year lease, which provides flexibility to quickly move into larger space. More >>
Tags: Gray Plant Mooty | Fargo
Morrison & Foerster is advising Global Logistic Properties Limited (GLP), the leading provider of modern logistics facilities in China, Japan and Brazil, in a co-investment with an affiliate of Singapore sovereign wealth fund GIC Pte. Ltd. to buy one of the largest logistics real estate portfolios in the United States from the Blackstone Group. The US$8.1 billion deal marks GLP’s first foray into the U.S. market. As detailed in GLP’s press release, the transaction is expected to be completed in the first quarter of 2015. More >>
Tags: Morrison & Foerster LLP | Singapore
Paul Hastings, a leading global law firm, announced today that it advised Morgan Stanley as the sole placing agent, global coordinator and bookrunner on Ping An Insurance Group Company of China, Ltd.’s US$4.75 billion private placement of new H-shares. More >>
Tags: Paul Hastings, LLP | Hong Kong
Cahill represented the joint book-running managers and the co-managers in connection with the Rule 144A offering of $1,250,000,000 aggregate principal amount of 5.25% Senior Secured First Priority Notes due 2021 by HD Supply, Inc., one of the largest industrial distributors in North America. Proceeds from the offering were used to refinance existing indebtedness.
Tags: Cahill Gordon & Reindel LLP | New York
The Firm represented Merrill Lynch, Pierce, Fenner & Smith Incorporated, Goldman, Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC as joint book-running managers in connection with a public offering by UnitedHealth Group Incorporated of $750 million aggregate principal amount of 1.400% Notes due December 15, 2017, $500 million aggregate principal amount of 2.300% Notes due December 15, 2019 and $750 million aggregate principal amount of 2.875% Notes due December 15, 2021. The offering closed on December 8, 2014. More >>
Tags: Simpson Thacher & Bartlett LLP | New YorkRopes & Gray advised Chicago- and Nashville-based Cressey & Company, a leading health care-focused private investment firm, in the formation of Cressey & Company Fund V, LP. Fund V, which closed with a combined $615 million in limited partner and general partner capital commitments, will focus on investing in premier platform businesses and accelerating growth organically and through acquisitions. The fund launched in July 2014; its closing was announced Dec. 8. More >>
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