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Transactional

Corporate

  • Time Warner Cable to Merge with Comcast in $45 Billion Deal

    Mergers & AcquisitionsEmployee BenefitsEnvironmentalIP TransactionsReal EstateTax

    As has been widely reported in the Wall Street Journal, The New York Times and numerous media outlets worldwide, Paul, Weiss client Time Warner Cable Inc. announced its agreement to merge with Comcast Corp. for approximately $45.2 billion. The transaction will create a leading technology and innovation company, differentiated by its ability to deliver ground-breaking products on a superior network while leveraging a national platform to create operating efficiencies and economies of scale. The merger agreement is subject to shareholder approval at both companies and regulatory review and other customary conditions and is expected to close by the end of 2014.

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  • William Morris Endeavor
    Announces Acquisition of IMG

    Mergers & AcquisitionsMedia & EntertainmentEmployee BenefitsFinanceIP TransactionsTax

    As has been widely reported, Paul, Weiss client William Morris Endeavor Entertainment announced an agreement to acquire sports and media talent agency IMG Worldwide. The transaction is subject to customary closing conditions. Terms of the transaction were not disclosed.

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  • Fifth & Pacific Announces Sale of Lucky Brand to Leonard Green & Partners, L.P.

    Mergers & AcquisitionsEmployee BenefitsFinanceIP TransactionsReal EstateTax

    As reported by The New York Times "Dealbook," Paul, Weiss client Fifth & Pacific Companies, Inc. announced the sale of Lucky Brand to LBD Acquisition Company, LLC, an affiliate of Leonard Green & Partners, L.P., for an aggregate payment of $225 million, comprised of $140 million cash consideration and a three-year $85 million note to be issued by LBD at closing, subject to working capital and other adjustments. 

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  • Intelsat Amends $3.75 Billion
    Senior Secured Credit Facilities

    Finance

    Paul, Weiss client Intelsat (NYSE: I), a leading global provider of fixed satellite services, amended its existing senior secured credit agreement, which governs its approximately $3.1 billion senior secured term loan facility and $500 million revolving credit facility. The amendment reduced the interest rates applicable to borrowings under the term loan facility and extended the maturity of the term loan facility. In addition, the amendment also reduced the interest rates applicable to $450 million of the $500 million total revolving credit facility and extended the maturity of such portion of the revolving credit facility. Bank of America Merrill Lynch, J.P. Morgan and Credit Suisse served as joint lead arrangers and joint bookrunners.

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  • Turquoise Hill Launches
    $2.4 Billion Rights Offering

    Capital Markets & SecuritiesTax

    Paul, Weiss client Turquoise Hill Resources (formerly known as Ivanhoe Mines), a Canadian mining company with operations focused in the Asia Pacific region and majority-owned by Rio Tinto, launched a $2.4 billion rights offering to repay interim and bridge loans relating to the continuing development of its Oyu Tolgoi copper-gold mine. Oyu Tolgoi is one of the world's largest new copper-gold mines and is located in the South Gobi region of Mongolia. Rio Tinto committed to support the rights offering by exercising its full basic subscription privilege with respect to its ownership of 51 percent of the shares of Turquoise Hill as well as by providing a standby commitment for the full amount of the rights offering, subject to certain conditions.

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  • Spectrum Brands Refinances
    U.S. Tranche B Term Loans

    FinanceReal EstateTax

    Paul, Weiss client Spectrum Brands, Inc. (SPB) closed on its previously announced issuance of a $215 million U.S. term loan due September 2019 and a new €225 million Euro term loan due September 2019. Spectrum Brands Europe GmbH, a German subsidiary of SPB, incurred such new Euro term loans. Net proceeds from the term loans were used to replace SPB's existing $513 million U.S. term loan B due December 2019. Concurrently with the closing of the new term loans, SPB entered into an Eighth Amendment to its ABL Loan and Security Agreement. This is SPB's third significant refinancing in 366 days.

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  • CORE Media Group Sells Elvis Presley Enterprises and Muhammad Ali Enterprises

    Media & EntertainmentMergers & AcquisitionsEmployee BenefitsEnvironmentalReal EstateTax

    As widely reported by several media outlets, Paul, Weiss client CORE Media Group completed the sale of its interests in Elvis Presley Enterprises and Muhammad Ali Enterprises to Authentic Brands Group, LLC and Joel Weinshanker, Chairman and Founder of the National Entertainment Collectibles Association. Elvis Presley Enterprises controls the intellectual property associated with Elvis Presley and manages Graceland, Elvis' home in Memphis, Tennessee. Muhammad Ali Enterprises controls the intellectual property associated with Muhammad Ali.

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  • A-T Solutions Completes Acquisition
    of GreenLine Systems

    Private Equity TransactionsEmployee BenefitsEnvironmentalReal EstateTax

    Paul, Weiss client A-T Solutions, a portfolio company of CI Capital, completed the acquisition of GreenLine Systems, a technology company specializing in helping governments around the world manage risks associated with maritime and cross-border movement of goods and people. A-T Solutions is an internationally recognized leader in counterterrorism offering a full spectrum of capabilities in the areas of intelligence, technology, training and operations to combat the ever-changing threat and to protect the United States and its allies around the world.

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  • General Atlantic to Sell Align Networks

    Mergers & AcquisitionsCapital Markets & SecuritiesEmployee BenefitsFinanceIP TransactionsReal EstateTax

    Paul, Weiss client Align Networks, a General Atlantic portfolio company and a leading workers' compensation physical medicine network, entered into a definitive agreement to be acquired by funds advised by Apax Partners. Apax also entered into a definitive agreement to acquire One Call Care Management, the nation's leading provider of specialized cost containment services to the workers' compensation industry. Following the completion of each transaction, Align and One Call will merge to strengthen the value proposition to customers, injured workers and providers through faster, more efficient and cost-effective resolution of claims.

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  • Reckitt Benckiser Completes
    $1 Billion Yankee Bond Offering

    EuropeCapital Markets & SecuritiesTax

    Paul, Weiss client Reckitt Benckiser Treasury Services plc, a subsidiary of Reckitt Benckiser Group plc, one of the world's leading manufacturers and marketers of branded health, hygiene and home products, completed an offering of $500 million 2.125% senior notes due 2018 and $500 million 3.625% senior notes due 2023. The offering was Reckitt Benckiser's first in the U.S. market. Citigroup Global Markets Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBS Securities Inc. acted as joint bookrunning managers.

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Corporate Partners

Paul, Weiss, Rifkind, Wharton & Garrison LLP