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April 29, 2011 5:17 PM

Davis Polk, Simpson Land Roles on Four Deals in One Week

Posted by Brian Baxter

Simpson Thacher & Bartlett and Davis Polk & Wardwell are advising corporate clients on a series of transactions this week totaling nearly $2.4 billion in value, including two major Silicon Valley acquisitions.

The Recorder, a sibling publication in California, reports that both firms are representing companies on the opposite sides of two separate deals. William Kelly, the founder of Davis Polk's Silicon Valley office in Menlo Park, Calif., is leading a team from the firm advising San Francisco-based online commercial real estate services site LoopNet on its $860 million acquisition by commercial real estate information company CoStar Group.

Also advising LoopNet are Davis Polk tax partner Rachel Kleinberg, antitrust partner Arthur Burke and counsel Stephen Pepper, and employee benefits counsel Cynthia Akard. The firm has previously advised LoopNet on corporate matters.

Washington, D.C.-based CoStar turned to Simpson corporate partners Robert Spatt and Sean Rodgers, private equity partner Brian Steinhardt, employee benefits partner Tristan Brown and senior counsel Jamin Koslowe, IP partner Lori Lesser, tax partner Nancy Mehlman, antitrust partners Kevin Arquit and Aimee Goldstein, and environmental senior counsel Michael Isby.

The two firms also had lead advisory roles working on the $645 million acquisition of flash memory product manufacturer Smart Modular Technologies this week by private equity firm Silver Lake Partners.

Davis Polk corporate partner Alan Denenberg is leading a team from the firm--including Kleinberg and Akard--advising Newark, Calif.-based Smart on the buyout. Smart's chief legal officer is Bruce Goldberg. Kaye Scholer is counseling a special committee of Smart's board of directors on the deal.

Simpson corporate partner Peter Malloy is leading a team from the firm advising longtime client Silver Lake that includes Brown, finance partner Jennifer Hobbs, tax partner Katharine Moir, IP partner Jeffrey Ostrow, and environmental senior counsel Adeeb Fadil. Former Simpson associate Karen King serves as chief legal officer for Menlo Park-based Silver Lake.

Simpson and Davis Polk also handled two more noteworthy deals this week. Simpson is representing Tustin, Calif.-based Toshiba Medical Systems (TMS) on its $273 million acquisition of Minnetonka, Minn.-based medical software and analysis company Vital Images, which turned to Faegre & Benson for outside counsel on the deal.

TMS, a unit of Japanese conglomerate Toshiba, is being advised by Simpson corporate partners Spatt and Mark Pflug, tax partner Robert Holo, employee benefits partners Brown and Koslowe, litigation partners Peter Thomas and Peter Kazanoff, labor and employment senior counsel J. Scott Dyer and counsel Julie Levy, litigation partners Peter Thomas and Peter Kazanoff, and antitrust partner Arman Oruc and senior counsel Michael Naughton. TAMS's general counsel is Fredric Friedberg.

In another deal announced this week, Davis Polk corporate partner David Caplan, tax partner Harry Ballan, employee benefits partner Edmond FitzGerald, and environmental cohead Betty Moy Huber are advising Hartford-based health insurance giant Aetna on its $600 million acquisition of Prodigy Health Group from private equity firm One Equity Partners.

Dechert corporate partner Derek Winokur, son of firm chairman and CEO Barton Winokur, is counseling New York-based Prodigy on the transaction, along with associate Blair McKechnie. Prodigy's general counsel is Andrea Balogh, while Aetna's top in-house lawyer is William Casazza.

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