Kirkland & Ellis represented HGGC, a leading middle-market private equity investment firm, which last week announced that it completed fundraising for HGGC Fund II, L.P. with total capital commitments of approximately $1.33 billion. More >>
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Davis Polk is advising Verisk Analytics, Inc. in connection with its £1.850 billion (approximately $2.8 billion) acquisition of Wood Mackenzie from Hellman & Friedman and other Wood Mackenzie shareholders. The transaction is expected to close during the second quarter of 2015, subject to the completion of customary closing conditions, including receipt of regulatory approvals. More >>
Tags: Davis Polk & Wardwell LLP | London | New YorkDavis Polk advised Merrill Lynch, Pierce, Fenner & Smith Incorporated and Citigroup Global Markets Inc. in connection with the SEC-registered secondary block trade of 32,018,100 shares of common stock of Voya Financial, Inc. (“Voya”). Total gross proceeds to ING Groep N.V., the selling stockholder in the offering, were $1.4 billion. Voya’s common stock is traded on the New York Stock Exchange under the symbol “VOYA.” More >>
Tags: Menlo Park | New YorkWillkie advises Sun Life Financial in transaction with BCE, Canada’s largest communications company.
Willkie recently advised Sun Life Financial in its C$5 billion longevity insurance transaction with BCE, Canada’s largest communications company. Under the terms of the longevity insurance agreement, the first of its kind in North America, the Bell Canada Pension Plan will pay monthly premiums to Sun Life in exchange for Sun Life making monthly pension payments into the plan for the lifetime of existing pensioners. BCE maintains full responsibility for the Bell Canada Pension Plan and related payments to pensioners. Sun Life will reinsure a portion of the longevity risk to RGA Canada and SCOR Global Life. More >>
Tags: New YorkKirkland & Ellis LLP represented Madison Dearborn Partners and Ikaria, Inc., a privately held critical care company, which today announced that it has reached a definitive agreement with Mallinckrodt plc under which a subsidiary of Mallinckrodt will acquire Ikaria from a Madison Dearborn-led investor group in a transaction valued at approximately $2.3 billion. Mallinckrodt (NYSE: MNK), is a leading global specialty biopharmaceutical company. Subject to customary closing conditions, the parties expect the transaction to be completed early in the second calendar quarter of 2015. More >>
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Milbank, Tweed, Hadley & McCloy have advised Dublin-based aircraft lessor, AWAS and its owners Terra Firma and Canada Pension Plan Investment Board (“CPPIB”) on an agreement to sell a portfolio of 90 aircraft to Macquarie Group Limited (ASX; MQG; ADR: MQBKY) for a total consideration of US$4 billion. The sale is expected to close within 12 months and is subject to customary closing conditions. More >>
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Cahill represented Citigroup, J.P. Morgan, Barclays, Credit Suisse, and Deutsche Bank Securities as joint book-running managers in connection with the Rule 144A offering of $925,000,000 aggregate principal amount of 6.75% Senior Notes due 2023 by Digicel Limited, a leading provider of wireless communications services in the Caribbean region. Proceeds from the offering were used to refinance existing indebtedness and for general corporate purposes. Cahill is also representing Citigroup Global Markets as dealer manager in connection with the concurrent tender offer of any and all of Digicel’s outstanding 8.250% Senior Notes due 2017.
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Shearman & Sterling advised Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC, as joint lead arrangers and joint bookrunners, in connection with a $2.5 billion revolving credit facility for EMC Corporation. More >>
Tags: Shearman & Sterling LLP | New York | Palo AltoJohnson & Johnson announced a binding offer from Cardinal Health to acquire its Cordis business for an aggregate value of $1.99 billion, consisting of $1.944 billion of cash proceeds from Cardinal Health plus approximately $46 million of retained net receivables. Cravath is representing Johnson & Johnson in connection with this transaction. The acceptance period for the offer will end on May 30, 2015, unless extended. If the offer is accepted, the proposed transaction would be expected to close towards the end of 2015, subject to customary closing conditions and regulatory approvals. More >>
Tags: New YorkShearman & Sterling represented Barclays Capital Inc., Credit Agricole Securities (USA) Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC and RBC Capital Markets, LLC as joint book-running managers and Banco Bradesco BBI S.A., BB Securities Limited, Lloyds Securities Inc., Mizuho Securities USA Inc. and SG Americas Securities, LLC as co-managers in connection with Ford Motor Credit Company LLC’s offering of $500,000,000 aggregate principal amount of its Floating Rate Notes due January 9, 2018, $750,000,000 aggregate principal amount of 2.145% Notes due January 9, 2018 and $750,000,000 aggregate principal amount of 3.219% Notes due January 9, 2022. More >>
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