Kirkland & Ellis represents 3G Capital, which along with Berkshire Hathaway, announced today its agreement to acquire H.J. Heinz Company in a transaction valued at approximately $28 billion, the largest ever in the food industry. The transaction is subject to approval by shareholders, receipt of regulatory approvals and other customary closing conditions, and is expected to close in the third quarter of 2013.
Tags: Kirkland & Ellis LLP | New YorkLoeb & Loeb Represents Special Committee in Verint Systems Acquisition of Comverse Technology
Loeb & Loeb LLP represented the special committee of the board of directors of Verint Systems Inc., a provider of analytic software solutions for the security and business intelligence markets, in its acquisition of Comverse Technology Inc. The transaction, valued at approximately $960 million, was completed in February 2013. The all-stock deal eliminated Comverse’s majority ownership in and control of Verint following the spinoff by Comverse of its telecommunications business.
Tags: Loeb & Loeb LLP | New YorkSimpson Thacher Represents AXIS Capital in Connection with the Sale by Stone Point Capital of its Remaining Stake in AXIS
The Firm is representing AXIS Capital Holdings Ltd. (“AXIS Capital”) in connection with the sale by Stone Point Capital LLC’s Trident II, L.P. and related entities (“Trident”) of its remaining stake in AXIS Capital. AXIS Capital priced its secondary share offering of nearly 2.74 million shares at $39.50 per share, a value of approximately $108 million. Upon completion of this offering, Trident will no longer own any of AXIS Capital’s common shares.
Tags: Simpson Thacher & Bartlett LLP | New YorkPaul Hastings Represents Lexington Realty Trust in Connection with Refinancing Transaction
Paul Hastings, a leading global law firm, announced today that the firm represented Lexington Realty Trust (NYSE: LXP), a real estate investment trust focused on single-tenant real estate investments, in the refinancing of its secured credit facility.
Tags: Paul Hastings, LLP | New YorkLabaton Sucharow Secures $473 Million Settlement In Case Against Schering-Plough Corporation
Today Labaton Sucharow LLP, along with its co-counsel, announced that it reached a $473 million settlement in In re Schering-Plough Corporation / ENHANCE Securities Litigation. The recovery is the largest securities class action settlement ever against a pharmaceutical company, among the top 25 securities class action settlements of all time, and among the ten largest recoveries ever in a securities class action that did not involve a defendant company restating its earnings. The case was set to start trial on March 4, 2013 in federal court in New Jersey.
Tags: Labaton Sucharow LLP | New YorkWillkie Assists Facebook in Major IPO-Related Litigation Victory
On February 13, the United States District Court for the Southern District of New York handed down a decision (In re Facebook, Inc. IPO Sec. & Derivative Litig., No. 12-md-2389 (S.D.N.Y. Feb. 13, 2013)), dismissing the shareholder derivative actions that have been brought against Facebook and its Board of Directors in the aftermath of the Company’s May 18 initial public offering. Willkie is serving as co-counsel with Kirkland & Ellis LLP for the Facebook defendants in the Facebook IPO-related litigation.
Tags: Willkie Farr & Gallagher LLP | New YorkChadbourne Expands Its Private Funds Practice Group Team in New York
Weil Advises CCMP and Milacron in Acquisition of Mold-Masters
Weil advised CCMP Capital Advisors and its portfolio company Milacron, a global plastics industry leader, in connection with Milacron’s acquisition of Mold-Masters, a leading global hot-runner manufacturer, from private equity firm 3i Group and other shareholders. Under the terms of the transaction, Milacron will acquire 100% of Mold-Masters for an enterprise value of C$975 million.
Tags: Weil, Gotshal & Manges, LLP | New YorkMilbank Advises on Securities Offerings and Financings Totaling $1.6 Billion
Completing an active two-week run of major corporate finance and capital markets activity, Milbank, Tweed, Hadley & McCloy has advised on transactions totaling approximately $1.6 billion for its financial institution clients. Included were two large high-yield offerings, an investment grade offering, and a concurrent leveraged loan transaction.
Tags: Milbank LLP | New YorkSimpson Thacher Represents JPMorgan Chase & Co. in $850 Million Preferred Stock Offering
The Firm represented JPMorgan Chase & Co. in connection with a public offering of 34,000,000 Depositary Shares, equivalent to $850 million in aggregate amount, each Depositary Share representing a 1/400th interest in a share of perpetual 5.45% Non-Cumulative Preferred Stock, Series P, of JPMorgan Chase & Co. The underwriters have the right to purchase up to an additional 5,100,000 Depositary Shares at the public offering price within 30 days. The offering closed on February 5, 2013.
Tags: Simpson Thacher & Bartlett LLP | New York