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 >>

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.

The 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 >>

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 >>