In the latest boost to its leading financial institutions practice, Milbank, Tweed, Hadley & McCloy announced that John Williams, who focuses on complex transactional and regulatory work in the derivatives space, has joined the firm’s New York office as a partner. His arrival expands the derivatives capability of Milbank, which represents leading global banks and financial institutions in the largest business markets worldwide.

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Milbank, Tweed, Hadley & McCloy LLP recently represented affiliates of KKR Asset Management LLC (KAM) in the structuring and issuance of approximately $519 million of collateralized loan obligation (CLO) notes in a transaction in which Citigroup Global Markets Inc. acted as lead initial purchaser and placement agent, KKR Capital Markets LLC acted as an initial purchaser and placement agent, and Natixis Securities Americas LLC acted as a placement agent. The CLO notes are collateralized primarily by a diversified portfolio of senior secured corporate loan obligations selected by and to be managed for the CLO issuer by a KAM affiliate. KAM was formed in June 2004 as a subsidiary of Kohlberg Kravis Roberts & Co. L.P., a leading global investment firm with a 37-year history of leadership, innovation and investment excellence.

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Global law firm Proskauer has advised on eight significant real estate private equity and capital markets transactions over the past month in New York, exceeding $8.0 billion in aggregate value.

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Davis Polk advised Merrill, Lynch, Pierce, Fenner & Smith Incorporated as the initial purchaser in a Rule 144A/Regulation S add-on offering by AK Steel Corporation, a wholly owned subsidiary of AK Steel Holding Corporation, of $30 million aggregate principal amount of 8.750% senior notes due 2018. The add-on notes form part of the same series as the existing $350 million aggregate principal amount of 8.750% senior notes due 2018 previously issued by AK Steel Corporation. The notes are guaranteed on a senior unsecured basis by AK Steel Holding Corporation.

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The Firm is representing the Special Committee of the Board of Directors of Clearwire Corporation (NASDAQ: CLWR) in connection with the Special Committee’s review of strategic alternatives available to the Company, including a recently increased proposal from Sprint Nextel Corporation (NYSE: S) to acquire the remaining shares of Clearwire that Sprint does not already own, which has resulted in an amended merger agreement between Clearwire and Sprint providing for the acquisition by Sprint of such Clearwire shares for $5.00 per share, or approximately $3.9 billion for such stake.  The revised transaction values Clearwire at more than $14 billion. This increased merger consideration represents a 14 percent premium to the $4.40 per share DISH Network (“DISH”) tender offer and a 47 percent premium to Sprint’s previous agreement at $3.40 per share announced on May 21, 2013.  The transaction is subject to customary closing conditions, including regulatory approvals and the approval of Clearwire’s stockholders, including the approval of a majority of Clearwire stockholders not affiliated with Sprint or SoftBank.  The closing of the transaction is also contingent on the consummation of Sprint’s previously announced transaction with SoftBank.

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The global law firm Jones Day is pleased to announce that Brien Wassner has joined the Private Equity Practice as a partner in the New York Office. Mr. Wassner arrives from Winston & Strawn, where he served as a partner advising on domestic and international corporate transactions, infrastructure and energy projects, and related matters.

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Adding a major talent to its top-ranked Advertising and Marketing group, Venable LLP announced that Po Yi, formerly Vice President and Chief Advertising Counsel for American Express and an authority on branded content, sponsorship, media integration, and digital and social media marketing, has joined the firm as a partner in the New York office.

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The Firm represented affiliates of Blackstone Real Estate Partners VII (collectively, “Blackstone”) in connection with its investment in a joint venture with Kimco Realty Corp. (NYSE: KIM).  Blackstone acquired a 67 percent interest in the shopping center portfolio from affiliates of the UBS Wealth Management North American Property Fund, while Kimco increased its ownership interest in the joint venture to 33 percent from its previous 18 percent interest.  Both of these transactions were based on a gross purchase price of approximately $1.1 billion including approximately $631 million of assumed debt.  The joint venture comprises 39 retail properties totaling approximately 5.6 million square feet.

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The Firm is representing The Blackstone Group in connection with the announced merger of Vanguard Health Systems, Inc. (NYSE:VHS) and Tenet Healthcare Corporation (NYSE:THC).  Investment funds affiliated with Blackstone own approximately 37.75% of the issued and outstanding shares of common stock of Vanguard.  Under the terms of the merger agreement, Tenet will acquire all of the issued and outstanding shares of common stock of Vanguard for $21 in cash per share.  The acquisition is valued at $4.3 billion, which includes the assumption of $2.5 billion in debt.  The transaction is subject to the satisfaction of customary closing conditions and regulatory approvals and is expected to close before the end of 2013.

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Davis Polk advised Quicksilver Resources Inc. (Quicksilver) in connection with its offering of $325 million aggregate principal amount of 11% senior notes due 2021, its offering of $200 million aggregate principal amount of second-lien senior secured floating-rate notes due 2019, and the concurrent closing of its $625 million second-lien term loan agreement. The notes were sold pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended.

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