Covington & Burling represented Salix Pharmaceuticals, Ltd. in its agreement to acquire Oceana Therapeutics, Inc., a privately held global provider of gastroenterology and urology therapeutics, for $300 million in cash.

Davis Polk advised Credit Suisse Securities (USA) LLC as the initial purchaser on a Rule 144A/Regulation S offering by Spectrum Brands, Inc., of $200 million aggregate principal amount of its 9.5% senior secured notes due 2018. The notes are guaranteed by Spectrum Brands’ immediate parent company and by certain of its subsidiaries and are secured by first-priority liens on substantially all of the assets (other than accounts receivable and inventory) of Spectrum Brands and the guarantors and by second-priority liens, behind Spectrum Brands’ $300 million asset-based revolving credit facility due 2014, on their accounts receivable and inventory.

Simpson Thacher recently represented Becton Dickinson & Company in a registered offering of $500 million 1.750% Notes due 2016 and $1.0 billion of 3.125% Notes due 2021.

Davis Polk advised Morgan Stanley Infrastructure in connection with the sale of its 50% interest in Inversiones Grupo Saesa Limitada to investment vehicles managed by Alberta Investment Management Corporation.

Proskauer announced the expansion of its Finance Group and global Corporate Department with the addition of Partner Andrew Bettwy and Senior Counsel Glen K. Lim.

Morgan Lewis today announced the addition of Margaret C. Wilson as a partner in its Tax Practice, resident in Princeton and New York. A former partner at another international firm and previously associate general counsel of tax at Verizon, Ms. Wilson has spent 15 years advising clients on state and local taxation (“SALT”) issues.  Her arrival further establishes the firm as a significant presence in the SALT field.

Shearman & Sterling is advising NPC International Inc. in the sale of its parent, NPC Acquisition Holdings, LLC, and all of its parent’s equity holders to Olympus Partners. The amount of the sale was not disclosed.

Latham & Watkins LLP is pleased to announce that Alan W. Avery has joined the firm’s New York office as a partner in the Corporate Department. Avery’s practice spans a broad range of transactional and advisory assignments, including bank regulatory matters, investments in banks and bank holding companies, and the development and analysis of institutional and retail financial products, among others.

Davis Polk advised HSBC Securities (USA) Inc. and Mitsubishi UFJ Securities (USA), Inc. as representatives of the initial purchasers in connection with the offering by Corporación Nacional del Cobre de Chile (CODELCO) of $1.15 billion aggregate principal amount of its 3.875% notes due 2021. The notes were sold in an offering exempt from registration pursuant to Rule 144A and Regulation S.

Simpson Thacher represented Morgan Stanley Senior Funding, Inc., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., The Bank of Nova Scotia and RBS Securities Inc. as joint lead arrangers and joint bookrunners in connection with approximately $1.4 billion of committed financing for the $1.0 billion acquisition of Avis Europe plc by Avis Budget Group, Inc. (the “Company”).  In addition, Simpson Thacher represented Morgan Stanley & Co. LLC as representative of the initial purchasers of $250.0 million 9.75% Senior Notes due 2020 issued by Avis Budget Car Rental, LLC (“ABCR”) and Avis Budget Finance, Inc., each a wholly owned subsidiary of the Company, in connection with the acquisition. The acquisition was effected through a scheme of arrangement under Part 26 of the UK Companies Act 2006 in the United Kingdom, and was subject to the “certain funds” and “cash confirmation” requirements for a public bid in the United Kingdom under the City Code on Takeovers and Mergers.