Davis Polk Advises Treasury on Its $5.75 Billion Offering of AIG Common Stock

Davis Polk advised the United States Department of the Treasury (Treasury) in connection with its offering of approximately 188.5 million shares of common stock of American International Group, Inc. (AIG), which included the full exercise of the underwriters’ over-allotment option, representing proceeds to Treasury of approximately $5.75 billion. AIG agreed to purchase approximately 98.4 million shares in the offering, representing approximately $3.0 billion of Treasury’s proceeds from the sale. The offering reduced Treasury’s remaining investment in AIG to approximately 871.1 million shares of common stock and reduced Treasury’s percentage ownership of AIG’s outstanding shares of common stock from 61% to approximately 53%.

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Tags:  Davis Polk & Wardwell | New York

Davis Polk – Celgene Corporation $1.5 Billion Senior Notes Offering

Davis Polk advised J.P. Morgan Securities LLC, Merrill Lynch, Pierce Fenner & Smith Incorporated and Morgan Stanley & Co. LLC as joint book-running managers on an SEC-registered offering by Celgene Corporation of $500 million aggregate principal amount of its 1.9% senior notes due 2017 and $1 billion aggregate principal amount of its 3.25% senior notes due 2022.

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Tags:  Davis Polk & Wardwell | New York

Davis Polk – Duff & Phelps Corporation Secondary Offering

Davis Polk advised Goldman, Sachs & Co. as the sole underwriter in connection with an SEC-registered secondary offering of 3,000,000 shares of Class A common stock of Duff & Phelps Corporation, of which 1,794,556 shares were sold by Vestar Capital Partners and its affiliates and 1,205,444 shares were sold by Shinsei Bank, Limited. The net proceeds of the offering were approximately $40 million. The Class A common stock is listed on the NYSE.

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Tags:  Davis Polk & Wardwell | New York

Shearman & Sterling Advises on $500 Million Senior Notes Offering for Omnicom

Shearman & Sterling represented the underwriters, led by J.P. Morgan Securities LLC, Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Wells Fargo Securities, Inc., in connection with the public offering of $500 million aggregate principal amount of 3.625% Senior Notes due 2022 of Omnicom Group Inc. and its wholly owned finance subsidiary, Omnicom Capital Inc. This offering is a reopening of its previous offering of 3.625% Senior Notes in April of this year.

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Tags:  Shearman & Sterling LLP | New York

Cahill – Biomet Completes $1 Billion Notes Offering and Amended Credit Facility

Cahill represented the joint book-running managers and co-managers in the Rule 144A/Reg S offering of $1,000,000,000 6.5% Senior Notes due 2020 by Biomet, Inc., a leading orthopedic medical device company. Proceeds from the offering will be used to refinance existing indebtedness. Cahill also represented the dealer managers in connection with Biomet, Inc.’s tender offer for its outstanding 10 3/8% / 11 1/8% Senior Toggle Notes due 2017.

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Tags:  Cahill Gordon & Reindel LLP | New York

Davis Polk – Vantiv, Inc. Secondary Offering

Davis Polk advised J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC, as representatives of the underwriters, in connection with the $308 million SEC-registered secondary offering of 14,064,500 shares of Vantiv, Inc.’s Class A common stock by funds affiliated with Advent International Corporation and trusts affiliated with one of Vantiv’s directors, Pamela H. Patsley, at a price to the public of $21.90 per share. The underwriters’ over-allotment option to purchase additional shares of Class A common stock from the selling stockholders was exercised in full. The Class A common stock is listed on the New York Stock Exchange under the symbol “VNTV.”

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Paul Hastings Advises RBC Capital Markets and Morgan Stanley in Financing for Permira’s Acquisition of Intelligrated

Paul Hastings LLP, a leading global law firm, announced today that the firm represented RBC Capital Markets and Morgan Stanley Senior Funding, Inc., as joint lead arrangers and joint bookrunners, in connection with the $340 million financing of European private equity firm, Permira’s $500 million acquisition of Intelligrated, Inc., a leading North American-based provider of automated material handling solutions, services and products.

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Tags:  Paul Hastings LLP | New York