S&C, Skadden, Kirkland on Allergan Deal: Business of LawEllen Rosen
Four U.S. law firms and two from Canada advised on Valeant Pharmaceuticals International Inc.’s deal to buy Allergan Inc., maker of the blockbuster Botox wrinkle treatment.
Sullivan & Cromwell LLP, Skadden, Arps, Slate, Meagher & Flom LLP and Toronto’s Osler, Hoskin & Harcourt LLP represented Valeant, while Kirkland & Ellis LLP and Canada’s Davies Ward Phillips & Vineberg LLP represented William Ackman’s Pershing Square Capital Management LP, which partnered with Valeant on the deal. Latham & Watkins LLP advised Allergan.
Partners working on the deal from Sullivan & Cromwell are Alison Ressler, Eric Krautheimer and Alan Sinsheimer, corporate; Ronald Creamer Jr., tax; S. Neal McKnight, financing; Matthew Friestedt, executive compensation and benefits; Nader Mousavi, intellectual property; and Yvonne Quinn, antitrust.
The Skadden lawyers on the deal are partners Stephen Arcano, mergers and acquisitions; Robert Copen, banking; Steven Sunshine, antitrust and competition; Richard Aftanas, corporate finance; and David Rievman, tax.
From Osler Hoskin are partners Clay Horner and Doug Bryce, corporate, and Peter Glossop, competition/antitrust.
The Kirkland & Ellis partners representing Pershing Square are Stephen Fraidin, mergers and acquisitions and corporate, and Richard Brand, corporate.
The Davies team includes partners Patricia Olasker and Alex Moore, capital markets, mergers and acquisitions.
From Latham, representing Allergan, are partners Cary Hyden and Paul Tosetti.
The cash-and-stock deal, valued at $45.7 billion, is the latest step of Quebec-based Valeant to become one of the world’s largest drugmakers.
Under the deal, investors in Irvine, California-based Allergan would receive $48.30 in cash and 83 percent of a Valeant share for each Allergan share they own, Valeant said yesterday in a statement.
For more on the deal, click here.
Bed Bath & Beyond Ends Ban on Job Applicants With Criminal Past
Bed Bath & Beyond Inc. will stop rejecting out of hand job applicants with criminal records under an agreement with the New York attorney general’s office.
The household goods retailer, which operates more than 1,000 stores across the U.S. and 62 within New York, will pay $125,000 in the settlement, including $40,000 in restitution to applicants unlawfully denied jobs, Attorney General Eric Schneiderman’s office said yesterday.
Under New York law, employers are barred from automatically disqualifying a prospective hire on the basis of a criminal record. Such blanket discrimination is illegal in several other states and cities, according to the New York-based National Employment Law Project. A company can still look at the nature of a past crime and responsibilities of the particular job in considering an ex-offender.
The attorney general’s office said it investigated the retailer after learning that a human resources manager had disseminated information at a job fair stating that the company didn’t hire individuals with felony convictions. The company agreed to modify its practices in the state and conduct training to comply with New York law, Schneiderman’s office said.
The settlement doesn’t include an admission of wrongdoing, Leah Drill, a spokeswoman for the Union, New Jersey-based retailer, said in an e-mailed statement.
King & Spalding Opens Restructuring Practice in Frankfurt
King & Spalding LLP started a European restructuring practice with the hiring of Werner Meier as a partner in its Frankfurt office. Meier joins from Cleary Gottlieb Steen & Hamilton LLP, where he was a finance and restructuring partner.
SEC Enforcement Attorney Rejoins Akin Gump in New York
Joseph Boryshansky returned to Akin Gump Strauss Hauer & Feld LLP as a partner in its white-collar defense and government investigations practice in New York. Boryshansky had been a senior trial counsel in the Enforcement Division of the U.S. Securities and Exchange Commission. Prior to working at the SEC, Boryshansky was a counsel in Akin Gump’s litigation practice.
Proskauer Hires Patent Litigator Gutman From Bingham McCutchen
Siegmund Gutman joined Proskauer Rose LLP as a litigation partner and chairman of its life sciences patent practice. Gutman, who had been a partner at Bingham McCutchen LLP, will work out of Proskauer’s Los Angeles office.
Gutman advises clients on patent matters covering a wide range of technologies and works on Food and Drug Administration regulatory strategies.
Manatt Phelps Adds New Partner to Health-Care Practice
Deven McGraw joined the Washington office of Manatt, Phelps & Phillips LLP as a partner in its health-care practice. McGraw had been the director of the Health Privacy Project of the Center for Democracy & Technology.
In 2009, McGraw was one of three people appointed to the federal advisory Health Information Technology Policy Committee by then-Health and Human Services Secretary Kathleen Sebelius.
Before joining the Center for Democracy & Technology, McGraw was the chief operating officer of the National Partnership for Women & Families, a nonprofit organization promoting public policies, education and outreach for women and families.