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  • May 24, 2013 |

    Eight US firms close China's largest-ever leveraged buyout

    Seven US firms have come out on top this week after completing China's biggest ever management buyout - the $3.7bn (£2.2bn) take private of Chinese advertising display company Focus Media Holding. The deal, which finally closed last night, received shareholder approval in April for a buyer consortium to acquire the remaining shares in the Nasdaq-listed company for $27.50 per American Depositary Share.

    1 minute read

  • May 20, 2013 |

    Simpson Thacher takes high-profile Yahoo! role on $1.1bn Tumblr buyout

    Simpson Thacher & Bartlett and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian have taken lead roles on the $1.1bn (£723m) acquisition of blogging website Tumblr by Yahoo!. Yahoo! confirmed the deal in a statement today (20 May), including a promise "not to screw it up". The largely cash-based deal will see Tumblr retain its independence as a separately operated business, with founder and current CEO David Karp remaining in his post.

    1 minute read

  • May 15, 2013 |

    Raft of US firms score roles on AsiaInfo-Linkage take private

    A raft of US law firms have acted on the take private of AsiaInfo-Linkage, the latest Chinese company to de-list from a US bourse through a management buyout. The Chinese telecom software provider this week said it had accepted an offer to be acquired by a private investor consortium led by CITIC Capital Partners and AsiaInfo-Linkage co-founder Edward Tian, which values the company at $890m and would see it removed from Nasdaq.

    1 minute read

  • May 9, 2013 |

    Firms act as Tyman buys US building manufacturer

    A host of firms including Pinsent Masons, Allen & Overy (A&O), Proskauer Rose and Simpson Thacher & Bartlett have all played roles on UK building products company Tyman's acquisition of US building manufacturer Truth Hardware from Melrose Industries for $200m (£129m). The deal, which will see Truth combine with Tyman's existing US division Amesbury, is being funded by a debt and equity fundraising followed by a proposed move to the London Stock Exchange main market. The transaction is expected to close in June, with Melrose using the funds to pay down some of its existing borrowings.

    1 minute read

  • May 1, 2013 |

    Hogan Lovells and Simpson take bite of Apple's landmark $17bn bond issue

    Hogan Lovells and Simpson Thacher & Bartlett have taken lead roles on Apple's $17bn (£11bn) US bond issue, in the largest corporate debt sale in history. In its first debt offering since 1996, the consumer electronics giant yesterday (30 April) sold the bonds in a push to finance a $100bn (£64bn) cash return to shareholders by 2015.

    1 minute read

  • April 30, 2013 |

    Shearman and Simpson lead as e-commerce giant takes $586m stake in China's Twitter

    Shearman & Sterling and Simpson Thacher & Bartlett have scored lead roles on a deal which has seen China's biggest e-commerce company, Alibaba, take a stake in the country's own version of Twitter, Weibo. Alibaba is paying $586m (£378m) for an 18% stake in Weibo, valuing the business at more than $3bn (£1.9bn). SINA Corporation, the owner of Weibo, has also given Alibaba the option to increase its share to 30% in the future.

    1 minute read

  • April 16, 2013 |

    CC and A&O among international quartet on key Hong Kong IPO double

    Clifford Chance (CC) and Allen & Overy (A&O) have landed lead roles on two key Hong Kong initial public offerings (IPOs), working opposite US outfits Davis Polk & Wardwell and Kirkland & Ellis respectively. The planned listings of state-owned brokerage China Galaxy Securities Co and Sinopec Engineering (Group) Co, a wholly owned subsidiary of Asia's biggest oil refiner, Beijing-based Sinopec Group, are said to be the biggest IPOs in Hong Kong so far this year.

    1 minute read

  • April 9, 2013 |

    CC private equity chief leaves firm to join Latham in London

    Latham & Watkins' London office has sealed the hire of Clifford Chance (CC) private equity head David Walker, not long after the US firm announced it was taking on Herbert Smith Freehills litigation partner Simon Bushell. Walker, who has been a partner at CC firm since 2000, specialises in venture capital, fundraisings and M&A, and holds a number of key client relationships for CC, including the Carlyle Group and Equistone Partners.

    1 minute read

  • March 25, 2013 |

    The Transfer Window: recent moves including SNR, Gateley, K&L Gates

    Harbottle & Lewis has recruited top-rated defamation and reputation management partner John Kelly from Schillings, in an eye-catching hire for the City firm. Kelly has acted for a raft of high-profile clients including disgraced cyclist Lance Armstrong and former England manager Steve McClaren, as well as other celebrities including Steve Coogan, Madonna, Nicole Kidman, Angelina Jolie and Matt Lucas.

    1 minute read

  • March 14, 2013 |

    Simpson Thacher and Skadden act on KKR's $3.7bn takeover of industrial firm

    Simpson Thacher & Bartlett and Skadden Arps Slate Meagher & Flom have taken lead roles on US private equity house KKR's $3.74bn (£2.5bn) acquisition of industrial machinery maker Gardner Denver. The deal sees KKR acquire all of the outstanding shares of Gardner Denver common stock, as well as assuming all of the company's debts. Gardner Denver, which recorded revenues of around $2.4bn (£1.61bn) in 2012, is a global manufacturer of compressors, pumps and other products for industrial applications, including manufacturing and oil and gas exploration and production.

    1 minute read