Cleary Gottlieb Steen & Hamilton LLP News
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A court fight over more than $7 billion raised for bondholders and other creditors of Nortel Networks Corp. will be delayed unless a judge finds that European units of the defunct telephone maker filed a “frivolous” appeal, company lawyers said yesterday.
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Ropes & Gray LLP added four new corporate partners. Bracewell & Giuliani LLP lawyers Jonathan Gill and Robb Tretter join the firm in New York as partners in the private-equity practice, focusing on distressed investing. Mark Wesseldine, previously of Fried Frank, Harris, Shriver & Jacobson LLP will be joining the firm as a finance partner in London. Victoria Lloyd, a capital markets and mergers and acquisitions lawyer also from Fried Frank, is joining Ropes & Gray in its Hong Kong office.
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ABB Ltd. agreed to acquire Power- One Inc. for about $1 billion, giving the world’s biggest electricity-networks builder inverters that allow solar power to be fed into grids.
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Wachtell, Lipton, Rosen & Katz and Wilmer Cutler Pickering Hale & Dorr LLP acted as legal advisers to Thermo Fisher Scientific Inc., the second-biggest maker of life-sciences equipment by market value, which agreed to buy Life Technologies Corp. for $13.6 billion in cash in a deal that expands its reach in medical testing.
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Madison Dearborn Partners LLC agreed to buy National Financial Partners Corp. in a deal valued at $1.3 billion including debt that can be converted into stocks.
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Eleven lawyers said yesterday they plan to leave Bingham McCutchen LLP for Sidley Austin LLP.
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Former U.S. Trade Representative Ron Kirk joined Gibson Dunn & Crutcher LLP as senior of counsel.
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Robert W. Cook, former director of the division of trading and markets of the U.S. Securities and Exchange Commission, will return to Cleary Gottlieb Steen & Hamilton LLP as a partner. He will be based in the firm’s Washington office and will focus on securities, derivatives, and market regulation, the firm said.
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Cypriot President Nicos Anastasiades vowed to keep his country in the euro as Cypriots adapted to a second day of restrictions on their use of the common currency to prevent a financial collapse.
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Freeport-McMoRan Copper & Gold Inc., the world’s largest publicly traded copper producer, agreed to acquire Plains Exploration & Production Co. and McMoRan Exploration Co. for about $9 billion as the company returns to its roots in energy.
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