Davis Polk is advising Greenhill as lead financial adviser to Ball Corporation on its £4.3 billion takeover of Rexam plc, to be effected by means of a scheme of arrangement. Under the terms of the offer, which is subject to both an antitrust pre-condition and customary offer conditions, Rexam shareholders will receive a mixture of cash and new shares in Ball Corporation. Following completion of the transaction, Rexam shareholders are expected to hold approximately 19% of the combined group. More >>
Tags: London | New York
Kirkland & Ellis Advises EMR Capital on Closing of US$450 Million EMR Capital Resources Fund 1
Kirkland & Ellis has advised EMR Capital, a specialist mining private equity manager, which recently closed EMR Capital Resources Fund 1. The fund was oversubscribed and closed with aggregate capital commitments of US$450 million. The fund, which will make investments in global metals and mining companies and projects, accepted commitments from a broad mix of global institutional investors, including endowments, foundations, family offices and fund of funds. More >>
Tags: Kirkland & Ellis LLP | London | New York
Shearman & Sterling Represents Initial Purchasers on $5.2 Billion (Equivalent) Bond Financing in Connection with GTECH S.p.A’s Acquisition of International Game Technology, Inc.
Shearman & Sterling represented Credit Suisse Securities (USA) LLC, Barclays Bank PLC and Citigroup Global Markets Limited as representatives of the several initial purchasers in connection with GTECH’s offering of $5.2 billion (equivalent) of temporary senior secured notes, comprising: $600 million aggregate principal amount of 5.625% senior secured notes due 2020, $1,500 million aggregate principal amount of 6.250% senior secured notes due 2022, $1,100 million aggregate principal amount of 6.500% senior secured notes due 2025, €700 million aggregate principal amount of 4.125% senior secured notes due 2020 and €850 million aggregate principal amount of 4.750% senior secured notes due 2023. More >>
Tags: Shearman & Sterling LLP | London
Quinn Emanuel Opens Seattle Office Led by Former U.S. Attorney and Cyber Law Expert
The firm has opened an office in Seattle, Washington with former U.S. Attorney, Jenny Durkan. She will serve as Global Chair of the Cyber Law and Privacy Group, and join the firm’s White Collar & Corporate Investigations practice. She will be joined by John (“Jay”) Neukom, a partner from the firm’s San Francisco Office. More >>
Tags: Quinn Emanuel Urquhart & Sullivan, LLP | London
Wragge Lawrence Graham & Co advises GlaxoSmithKline on $675 million life sciences deal
Wragge Lawrence Graham & Co’s Life Sciences team has advised GlaxoSmithKline (GSK) on the sale of its shareholding interests in biopharmaceutical company Convergence Pharmaceuticals to NASDAQ-listed Biogen Idec. The $675 million deal takes place just four years after the team advised GSK on the spin-out venture which created Convergence.
The deal sees Biogen Idec pay Convergence shareholders an upfront payment of $200 million for the business and its innovative portfolio of drugs for use in the treatment of neuropathic pain. These include products that have demonstrated ‘proof of concept’ for treating conditions such as sciatica and trigeminal neuralgia, which causes severe, episodic facial pain. Shareholders will also be eligible for future milestone payments of up to $475 million, contingent on future milestone events. More >>
Tags: Gowling WLG | LondonShearman & Sterling Advises Lenders on $900 Million Multi-Currency Refinancing for Aon plc
Shearman & Sterling advised Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley Senior Funding, Inc., as joint lead arrangers and joint bookrunners, in connection with a $900 million multi-currency refinancing for Aon plc, Aon Corporation and Aon UK Limited. More >>
Tags: Shearman & Sterling LLP | London | New York | Palo Alto | Silicon Valley
Clifford Chance advises Deutsche Telekom on their sale with Orange of mobile Joint Venture EE to BT for GBP 12.5 billion
International law firm Clifford Chance has advised Deutsche Telekom AG which, along with Orange S.A, has reached an agreement with the British telecommunications operator BT Group plc. on the sale of their UK joint venture EE. Upon closing of the transaction, Deutsche Telekom will become the largest shareholder in BT with a stake of 12 percent. More >>
Tags: Clifford Chance LLP | Düsseldorf | London
Ropes & Gray Advises on Financing of €7.4 Billion Cross Border Acquisition
Ropes & Gray advised longstanding client Altice S.A. (Altice) on the financing for the acquisition by Altice of PT Portugal SGPS, S.A. and certain other entities that make up the Portugal Telecom Group, a leading provider of integrated telecommunication services to residential and corporate customers in Portugal from Oi S.A. More >>
Tags: Ropes & Gray LLP | London | New York
Morgan Lewis Advises CRH plc on €6.5bn Asset Acquisition from Lafarge and Holcim
Global law firm, Morgan Lewis is advising the international building materials group CRH plc (“CRH”) on the global merger control and antitrust issues of its recently announced binding commitment to acquire certain assets from Lafarge S.A. (“Lafarge”) and Holcim Ltd (“Holcim”) for an enterprise value of €6.5bn. The acquisition takes place in the context of the planned merger of Holcim and Lafarge and completion is expected for mid-2015. More >>
Tags: Morgan, Lewis & Bockius LLP | London
Debevoise Serves as U.S. Counsel to Catlin Group Limited in £2.79 Billion Sale to XL Group plc
Debevoise & Plimpton LLP is acting as U.S. counsel to Catlin Group Limited (“Catlin”) in its agreement with XL Group plc (“XL”) under which XL will offer to acquire all of the capital stock of Catlin for approximately £2.79 billion. The combined business is expected to have a leading presence in the global specialty insurance and reinsurance markets. More >>
Tags: Debevoise & Plimpton LLP | London