Law Firm News

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Law Firm News

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Simpson, Thacher & Bartlett, LLP

Simpson Thacher Wins Victory For KKR In Preliminary Injunction Hearing
On Wednesday, June 13, Simpson Thacher successfully opposed an attempt to block the shareholder vote on KKR's $7 billion bid for Tennessee retailer Dollar General. Plaintiffs brought a motion in state court in Nashville to enjoin the vote, which is scheduled for June 21, 2007, claiming (among other things) that KKR's offer of $22 per share for Dollar General was too low, the Board of Directors of Dollar General had breached their fiduciary duties in entering into the agreement with KKR and that material information regarding the projected performance of the Company had not been disclosed to shareholders in the proxy statement.

Plaintiffs were permitted to take expedited discovery prior to the hearing and deposed six witnesses in six days in Nashville, Palo Alto and New York. The Defendants also produced thousands of pages of documents related to the deal on an accelerated schedule and participated in several hearings on disputed discovery matters while simultaneously briefing the motion. After lengthy oral argument, Judge Thomas W. Brothers of the Sixth Circuit Court for the 20th Judicial District of Tennessee denied Plaintiffs' motion from the bench, finding that Plaintiffs had failed (despite their extensive and accelerated discovery) to produce any evidence to justify an injunction, including a failure to show any substantial likelihood of success on the merits.

The Simpson Thacher team was Michael Chepiga, Peter Kazanoff, Ted McEvoy, Amy Semet and Misha Vanyo, ably assisted by Doug Henderson.

06-14-2007

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Simpson, Thacher & Bartlett, LLP

Simpson Thacher Represents Gerresheimer in its €1 billion IPO
Simpson Thacher represented German company Gerresheimer AG, a leading worldwide manufacturer of high-quality specialty-glass and plastic products for the pharmaceutical and life science industry, in its initial public offering, the biggest so far this year in Germany.

The offering comprised 11.4 million shares from a capital increase and 10.6 million shares from the holdings of an affiliate of The Blackstone Group International Limited, who also provided 3.3 million shares to cover possible over-allotments. Assuming full exercise of the over-allotment option, total proceeds of the offering for Gerresheimer and the selling shareholder are approximately €1 billion. The offering was conducted as a public offering in Germany, with a listing on the Frankfurt Stock Exchange, and an international offering to institutional investors under Regulation S and Rule 144A. The joint global coordinators for the offering were Credit Suisse and Morgan Stanley.

In connection with the offering, Gerresheimer also refinanced its senior credit facility with a new credit facility of €275 million, and plans to redeem senior notes in the amount of €84 million.

The transactions were conducted out of the firm’s London office. The Simpson Thacher team includes Nick Shaw, Harald Zeiter and Trinh Le (Capital Markets), Euan Gorrie and Aurelien Jolly (Credit), and Meredith Jones and Jenifer Marsh (Tax). Mike Isby (Environmental) and Michael Richman (Employee Benefits) from the New York office also advised on the transactions. Hengeler Mueller provided German legal advice to Gerresheimer.

06-14-2007

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Simpson, Thacher & Bartlett, LLP

Firm Represents Yingli Green Energy in its NYSE IPO
The Hong Kong office of the Firm represented Yingli Green Energy Holding Company Limited, one of the leading vertically integrated photovoltaic product manufacturers in China, in connection with its initial public offering on the New York Stock Exchange of 29,000,000 American Depositary Shares, raising US$319 million prior to the exercise of the over-allotment option. The Firm also assisted Yingli Green Energy in its pre-IPO Series A preferred and Series B preferred financings and its convertible note financing, raising a total of US$220 million. The global bookrunners for the offering were Goldman Sachs and UBS.

The Simpson Thacher team for the transaction included Leiming Chen, Shaolin Luo, Rob Mason, Johneth Park, Kevin Zhang, Yi Gao, Jinghua Zou (Corporate), Rob Holo, Seojung Park (Tax) and Michael Richman (Benefits).

06-14-2007

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Sutherland Asbill & Brennan LLP

Sutherland Adds Diann L. Smith to Tax Group
Sutherland Asbill & Brennan LLP announces that Diann L. Smith is joining the firm as counsel in its State and Local Tax Group.

Ms. Smith comes to Sutherland after serving as general counsel for the Council on State Taxation (COST), a trade association representing approximately 600 of the largest businesses operating in the United States on state and local tax issues. Ms. Smith’s responsibilities at COST covered all aspects of state and local tax advocacy and education on behalf of the members’ state and local tax concerns.

“We are very excited to have Diann Smith join us,” said Mark D. Wasserman, Sutherland’s managing partner. “Her extensive knowledge of state and local tax issues as they pertain to multi-state businesses will be a tremendous asset for our clients. Our Tax Group is already among the most respected in the country, and Diann is a great addition to our outstanding team.”

While at COST, Diann testified before numerous government authorities and advocated the fair and nondiscriminatory taxation of multi-state businesses. Diann’s specific responsibilities at COST included writing amicus briefs, drafting legislation, commenting on proposed legislation and regulations, and acting as resource for COST members on state tax legal and procedural questions. Among her many accomplishments were spearheading the Unclaimed Property Task Force, drafting the Mobile Workforce State Income Tax Fairness and Simplification Act of 2006 (H.R. 6167) concerning state income tax withholding, and negotiating language for the Economic Development Act (S. 1066; H.R. 2471).

Prior to joining COST, Ms. Smith was an associate and then a partner in a New York law firm where she concentrated her practice on state and local tax issues, including corporate franchise and income tax, personal income tax, sales and use tax, and other excise taxes. Ms. Smith was an adjunct professor at the Georgetown University Law Center for the LL.M in Taxation program, and has worked with the New York Commissioner’s Taxpayer Advisory Group and the Connecticut Commissioner’s Business Users Group.

06-14-2007

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Salans

Salans advises Genser on the sale of 33 % of shares to Volga River One Capital Partners
Salans has represented Genser in the sale of a 33% share package to Volga River One Capital Partners.

Genser is an official dealer for a number of imported car manufacturers, including Nissan, Chevrolet, Opel, Ford, Saab, Cadillac, Hummer and Infiniti. It has been working on the Russian car market for over 16 years and manages six (6) dealerships in Moscow and two (2) in the regions.

As a leading Russian automobile retailer, Genser plans to strengthen its position in the Russian market through regional development and expansion of its portfolio of brands. Volga River One Capital Partners L.P. is a direct investments fund, founded in 2006. Its investment strategy focuses on fast-growing Russian/CIS companies in a wide range of industries.

London-based Senior Associate Zarko Iankov led the deal assisted by Moscow Associates Julia Konstantinova and Vladislav Bromberg. Moscow-based Timothy Stubbs Partner remarked, "Our work for Genser on this deal once again demonstrated Salans' strength in providing English-law M&A expertise for leading Russian companies. We look forward to continuing to work closely with Genser as it expands its Russian retail base."

06-14-2007

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Kirkpatrick & Lockhart Preston Gates Ellis LLP

Industry Study Identifies K&L Gates as Pittsburgh’s Top Corporate Law Firm
Kirkpatrick & Lockhart Preston Gates Ellis LLP (K&L Gates) has been named the best corporate law firm in Pittsburgh by Corporate Board Member Magazine. The ranking is based on results from Corporate Board Member’s Legal Industry Research Study, which asks directors living in 25 metropolitan areas to identify the law firms they would most likely select to aid their companies on a broad range of corporate legal issues.

To be considered for the ranking, firms must practice business, corporate or commercial law, and are required to be one of the 20 largest firms in its area by number of lawyers. K&L Gates was selected as the best corporate law firm in Pittsburgh in 2004 and 2005, and has been listed among the top-ranked firms since the 2001 inception of the Legal Industry Research Study.

Michael G. Zanic, Administrative Partner of K&L Gates’ Pittsburgh office, said: “We are proud of our longtime recognition by the Corporate Board Member study and feel it’s an accurate reflection of the quality of service we at K&L Gates dedicate ourselves to providing our clients in the Pittsburgh community and across our firm.”

06-14-2007

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Pierce & Atwood, L.L.P.

Two Hundred Attorneys & Staff to Volunteer on July 20
Four local non-profit organizations will receive approximately 1,200 hours of volunteer labor, from building fences to clearing trails, on July 20 when 200 attorneys and staff from Pierce Atwood LLP take part in the firm’s fourth annual day of community service.

The organizations benefiting from the firm’s community outreach include Camp Ketcha in Scarborough; Crossroads for Women in Windham; Riding to the Top Therapeutic Riding Center also in Windham; and St. Brigid School in Portland.

Camp Fire USA/Camp Ketcha seeks to build caring, confident youth and provide opportunities for young campers to develop leadership skills. On July 20, the attorneys and staff will build and maintain trails at the camp’s Scarborough facility.

The grounds and buildings at Crossroads for Women will undergo a beautification effort as the attorneys and staff clean up the gardens, paint interiors and build an enclosed area for bikes and toys. Crossroads for Women helps women deal with substance abuse and behavioral health issues as part of the short-term residential programs offered at the Windham facility.

For Riding to the Top Therapeutic Riding Center, the attorneys and staff will construct new fencing and repair old fencing, along with building trail stations. Riding to the Top provides therapeutic riding services to children and adults with physical, cognitive and/or emotional disabilities.

St. Brigid School is a new parochial elementary school in Portland and the attorneys and staff will help move the classroom furniture and books from St. Patrick’s and St. Joseph’s schools into their new home at St. Brigid School.

“Outreach is an important part of our charitable initiatives. Our annual day of community service offers a time when all attorneys and staff can join together during a single day and provide support to important community groups,” says Bruce Coggeshall, managing partner at Pierce Atwood LLP.

06-14-2007

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