International law firm Dorsey & Whitney LLP represented Tri-State Generation and Transmission Association, the not-for-profit wholesale power supplier to 44 member electric distribution cooperative and public power districts in Colorado, Nebraska, New Mexico and Wyoming, in a series of transactions completed earlier this month to refinance a portion of its debt. More >>
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Davis Polk is advising Baker Hughes Incorporated on its acquisition by Halliburton Company in a stock-and-cash transaction, representing an equity value of $34.6 billion and enterprise value of $38.0 billion. Under the terms of the agreement, stockholders of Baker Hughes will receive, for each Baker Hughes share, a fixed exchange ratio of 1.12 Halliburton shares plus $19.00 in cash. The transaction, which is expected to close in the second half of 2015, is subject to approvals from each company’s stockholders, regulatory approvals and customary closing conditions. More >>
Tags: Davis Polk & Wardwell LLP | New York
Leading international law firm Clifford Chance has advised Mitsubishi Corporation on its voluntary cash offer for the entire issued share capital of Cermaq ASA, a multinational fish farming group listed on the Oslo Stock Exchange. The acquisition, which is valued at approximately NOK8,880million (£838million) completed earlier in November. More >>
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Cahill represented Barclays, Citigroup, J.P. Morgan, and RBC Capital Markets as joint book-running managers and the co-managers in connection with the public offering of $800,000,000 aggregate principal amount of 3.75% Senior Notes due 2019 by Ally Financial Inc., a leading, independent, diversified, financial services firm. Proceeds from the offering were used for general corporate purposes.
Tags: Cahill Gordon & Reindel LLP | New YorkThe Firm represented the underwriters, led by Barclays, Deutsche Bank Securities and Morgan Stanley, in connection with a public offering by Altria Group, Inc. of $1 billion aggregate principal amount of its 2.625% Notes due 2020, guaranteed by Philip Morris USA Inc. The offering closed on November 14, 2014. More >>
Tags: New YorkPaul, Weiss client Encana Corporation closed the cash tender offer made by its indirect, wholly owned subsidiary, Alenco Acquisition Company, Inc., to acquire all of the issued and outstanding shares of common stock of Texas-based Athlon Energy Inc. Promptly following the consummation of the offer, Alenco Acquisition was merged with, and into, Athlon, with Athlon as the surviving entity and becoming an indirect, wholly owned subsidiary of Encana, a leading North American energy producer. As previously announced, the acquisition price was approximately $5.93 billion, and Encana has assumed Athlon’s $1.15 billion of senior notes, for a total transaction value of approximately $7.1 billion. More >>
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Global legal practice Norton Rose Fulbright has advised on the £1.35 billion financing for Phase 2 and Phase 3 of Battersea Power Station, one of the largest UK real estate financing transactions to take place in recent years. More >>
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Morgan Lewis today voted to admit 227 partners from Bingham McCutchen as partners in Morgan Lewis. With the addition of these partners, Morgan Lewis will be one of the largest firms in the world, and will offer clients global access to broad capabilities across a comprehensive spectrum of services and industries addressing virtually every aspect of corporate operations. More >>
Tags: Morgan, Lewis & Bockius LLP | New York
Milbank, Tweed, Hadley & McCloy LLP recently advised JSW Steel Limited, one of India’s leading steel producers, on its debut international bond offering of 4.75% Notes due 2019. Citigroup, Australia and New Zealand Banking Group Limited, Credit Suisse, Deutsche Bank and Standard Chartered Bank served as Joint Lead Managers and Joint Bookrunners for the issue. More >>
Tags: Milbank LLP | Hong KongActavis plc and Allergan, Inc. have announced a definitive agreement under which Actavis will acquire Allergan in a cash and stock transaction valued at approximately $66 billion. The combination will create one of the top 10 global pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23 billion anticipated in 2015. The transaction, which has been unanimously approved by the Boards of Directors of Actavis and Allergan, is subject to the approval of the shareholders of both companies, as well as customary antitrust clearance in the US, the EU and certain other jurisdictions, and is anticipated to close in the second quarter of 2015. More >>
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