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The American Lawyer Highlights Paul, Weiss Transactions
- March 15, 2012
The American Lawyer identified Paul, Weiss in three transactions named to its big deals lists in the March issue.
In its "Big Deals" section, the publication identified United Rentals, Inc.'s agreement on December 16, 2011 to acquire rival industrial equipment rental agency RSC Holdings Inc. United Rentals will assume $2.3 billion in RSC debt and pay $1.9 billion in cash and stock for the target's equity in a transaction valued at $4.2 billion. The deal came at a 58 percent premium to the target's closing price on December 15, 2011. The Paul, Weiss team included corporate partners Ariel J. Deckelbaum, Gregory A. Ezring, Eric Goodison, Valerie Radwaner, Robert B. Schumer and Lawrence G. Wee, and counsel Didier Malaquin and Frances F. Mi; tax partner David R. Sicular; employee benefits partner Robert C. Fleder; litigation partner Joseph J. Simons; and environmental counsel William J. O'Brien.
The American Lawyer also included, in its "Canadian Big Deals" list, a bid by Polish state-controlled copper miner KGHM Polska Miedz S.A. for Vancouver-based rival Quadra FNX Mining Ltd. on December 6, 2011. The $2.86 billion friendly cash offer would be the largest overseas acquisition by a Polish company. At press time Quadra shareholders were scheduled to vote on February 20. The transaction closed on March 6. The Paul, Weiss team providing U.S. counsel to Quadra included corporate partner Adam M. Givertz; tax partners David W. Mayo and David R. Sicular; and employee benefits partner Lawrence I. Witdorchic.
The $2.2 billion purchase of Daylight Energy Ltd. by Sinopec International Petroleum Exploration and Production Corporation was also named to the "Canadian Big Deals" list. Canada's Conservative government has said that it would actively market its oil to Asian buyers including China and has backed construction of another pipeline from Alberta to the Pacific, where oil could be loaded onto Asia-bound tankers. The Chinese state corporation's takeover of the Calgary-based oil sands company closed on December 21, 2011. The Paul, Weiss team advising Daylight Energy included corporate partner Adam M. Givertz and Edwin S. Maynard; and tax partner David W. Mayo.