Willkie Advises Brookfield Asset Management in Acquisition of GGP Warrants From Pershing Square and Other Transactions

On January 3, it was announced that Willkie client Brookfield Asset Management Inc. has informed General Growth Properties, Inc. that affiliates of Brookfield acquired the GGP warrants held by affiliates of Pershing Square Capital Management, L.P. The warrants represent the right to acquire 18,432,855 shares of GGP common stock, par value $0.01 per share. Brookfield has offered the board of directors the ability to acquire (over a 30-day period) the same warrants for the same purchase price of $271,884,611 paid by Brookfield.

More >>

Tags:  Willkie Farr & Gallagher LLP | New York

Shearman & Sterling Advises Sony on Joint Venture with InterDigital to Create Convida Wireless

Shearman & Sterling is advising Sony Corporation of America on its planned joint venture with InterDigital, Inc. that will combine Sony’s consumer electronics expertise with InterDigital’s pioneering wireless machine-to-machine (M2M) and bandwidth management research. The joint venture, called Convida Wireless, will focus on driving new research in the growing field of M2M wireless communications and other connectivity areas.

More >>

Tags:  Shearman & Sterling LLP | New York

Simpson Thacher Represents Team Health Holdings, Inc. and Selling Shareholder in Offering of 8,792,572 Shares of Common Stock

The Firm recently represented Team Health Holdings, Inc. (“TeamHealth”) and Ensemble Parent LLC (an affiliate of The Blackstone Group) in the sale by Ensemble Parent LLC of 8,792,572 shares of TeamHealth common stock (including the exercised underwriter’s option), resulting in gross proceeds of $253,665,702.20. After giving effect to the offering, Ensemble Parent LLC owns approximately 14.2% of TeamHealth’s common stock. Credit Suisse acted as underwriter for the offering.

More >>

Tags:  Simpson Thacher & Bartlett LLP | New York

Simpson Thacher Represents Accenture in Joint Venture with GE Aviation Systems

The Firm represented Accenture plc in connection with the formation of a joint venture with GE Aviation Systems that will provide airlines and cargo carriers around the world intelligent operations services focused on improving efficiency. The new joint venture, called Taleris, will leverage aircraft performance data, prognostics, recovery and planning optimization solutions that will include assets and capabilities from both Accenture and GE.

More >>

Tags:  Simpson Thacher & Bartlett LLP | New York

Davis Polk Advises on Tribune Exit Facility

Davis Polk advised JPMorgan Chase Bank, N.A. as administrative agent and J.P. Morgan Securities LLC as joint lead arranger and bookrunner (JPMorgan) in connection with a $1.1 billion senior secured exit term loan facility for Tribune Company (Tribune) entered into pursuant to Tribune’s chapter 11 plan of reorganization (Plan). Pursuant to intercreditor arrangements with Bank of America, N.A. as administrative agent under a $300 million senior secured exit asset-based revolving credit facility for Tribune, the exit term loan facility is secured on a first priority basis by substantially all assets of Tribune and its subsidiaries (other than accounts receivable and certain related assets (ABL Priority Collateral)) and on a second priority basis by the ABL Priority Collateral.

More >>

Tags:  Davis Polk & Wardwell | New York