Law Firm News

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Law Firm News

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Kirkland & Ellis

Community Health Systems, Inc. Turns to Kirkland & Ellis LLP in Mega Deal
Kirkland & Ellis LLP is advising Community Health Systems, Inc. (NYSE: CYH) in its multi-billion dollar acquisition of Triad Hospitals, Inc. (NYSE: TRI) that was announced today.

CHS and Triad entered into a definitive merger agreement pursuant to which CHS will acquire Triad for $54 per share in cash, or approximately $6.8 billion, including $1.7 billion of existing indebtedness. The merger will create the largest publicly traded hospital company in the United States. The combined company would own or operate approximately 130 hospitals in 28 states, with a total bed count of more than 18,700.

Triad has terminated its previous merger agreement with a group led by affiliates of CCMP Capital Advisors and GS Capital Partners. In accordance with the terms of the original merger agreement, Triad paid a termination fee to the original purchaser under such agreement. A Wall Street Journal article today reported about this aspect of the transaction:

"The deal marks a rare use of what is known as a go-shop provision, often used in private-equity deals to solicit a higher bidder after a prenegotiated transaction.

The move signals a new aggressiveness by Community, which has shied from large-scale merger activity during the past decade. Also, it is one of few times in recent years when so-called strategic buyers took the initiative away from private-equity funds, which have often enjoyed a lower cost of capital than corporate acquirers."

Kirkland advised CHS in negotiating more than $10 billion of debt financing in connection with the acquisition. The proceeds of the new financing will completely refinance the balance sheets of both CHS and Triad, adding to the complexity of the transaction.

Kirkland New York partner Stephen Fraidin is leading the deal team for CHS. The Kirkland team also includes partners Kirk Radke, Ashley Gregory, Heidi Bioski, Mark Kovner, Marimichael Skubel, Yosef Riemer and Josh Korff.

03-19-2007

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Willman & Silvaggio LLP

Silicosis Screener is Fined for X-Raying Potential Plaintiffs in Pennsylvania
The Pennsylvania Department of Environmental Protection has fined a New Jersey medical screening company $80,500 for X-raying potential silicosis plaintiffs at three Pennsylvania motel parking lots without prior written authorization or the presence of a licensed medical practitioner.

03-19-2007

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Dewey & LeBoeuf LLP

Dewey Ballantine Represents Triad Hospitals in Its Agreement To Be Acquired for $6.8 Billion
Dewey Ballantine LLP, a leading international law firm, announced today that it represents Triad Hospitals, Inc. in its agreement to be acquired by Community Health Systems, Inc. for approximately $6.8 billion. Triad accepted a higher bid from Community Health Systems over a previous bid by a private equity group to take Triad private for approximately $6.4 billion.

The attorneys working on the deal include partners Robert Myers, Gregory Owens, Morton Pierce, Michelle Rutta, and Gordon Warnke; counsel Patti Marks; and associates Steve Harrison, Stephanie Pham-Quang and Apryl Mathes.

Triad Hospitals has been a Dewey Ballantine client since its inception in 1999, when it was spun out by HCA Inc. along with LifePoint Hospitals utilizing a complex taxfree structure that the firm was integrally involved in designing and implementing. Throughout the past eight years, Dewey Ballantine has been counsel to Triad in the issuance of securities totaling more than $2.2 billion, bank finance transactions totaling more than $2.7 billion and M&A transactions totaling more than $2.3 billion. The firm has also represented Triad in various tax audit matters.

03-19-2007

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Young Conaway Stargatt & Taylor, LLP

Delaware Attorney Powell Elected to ACCFL Board of Regents
Norman M. Powell, a partner in the Business Planning, Transactions and Restructuring Section of Young Conaway Stargatt & Taylor, LLP, has been elected to the Board of Regents of the American College of Commercial Finance Lawyers (ACCFL). Mr. Powell’s term on the Board will run through 2011.

Mr. Powell is one of only two Delaware attorneys named a Fellow of the ACCFL. Election to the College is limited to commercial finance lawyers, jurists and academics who have not only achieved preeminence in the field of commercial finance law, but who also have contributed significantly to the education of others in commercial finance law through teaching, lecturing or published writings.

The ACCFL, founded in 1991 by a group of lawyers active on the Commercial Financial Services Committee of the Business Law Section of the American Bar Association, is a professional organization dedicated to promoting the field of commercial finance law through education, legislative reform and the recognition of distinguished practitioners, jurists and academics. The College offers a venue to promote and celebrate outstanding achievement and advances in the field of commercial finance law.
Copyright © 2007 Young Conaway Stargatt & Taylor, LLP. All rights reserved.

03-19-2007

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Strasburger & Price, LLP

Nineteen Strasburger Attorneys Receive Rising Star Honor
Strasburger & Price, LLP congratulates its nineteen attorneys selected by Texas Monthly magazine as 2007 Rising Stars. This year, the distinguished list recognizes attorneys from each of Strasburger’s five Texas offices in Austin, Collin County, Dallas, Houston and San Antonio. The nineteen lawyers represent a diverse group including six women, two minorities, eight associates and seven lateral hires.

Texas Monthly, through independent research conducted by Law & Politics magazine, will publish this list in its April 2007 Texas Super Lawyers Rising Stars Edition. This list features the top upandcoming Texas lawyers hailed by Texas Montly as Rising Stars. The Rising Stars are attorneys who are either under 40 years of age or have been practicing law for 10 years or less in both private and nonprivate practice. Fewer than 2.5 percent of Texas attorneys are named Rising Stars.

Attorneys selected by their peers as 2006 Texas Super Lawyers nominate the Rising Star candidates. The list of Rising Stars, represents more than 60 practice areas, and is published annually in Texas Super Lawyers, a special edition of Texas Monthly agazine. The following 19 attorneys, representing each of Strasburger’s five Texas offices, receive this honor.

03-19-2007

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Miller, Johnson, Snell & Cummiskey, P.L.C.

Miller Johnson Attorney to Speak to Occupational and Environmental Health Professionals
Brent D. Rector, an employment and labor law attorney at Miller Johnson, will present “Integrated Absence Management & the FMLA: An Update” at the American Association of Occupational Health Nurses, Inc. (AAOHN) conference in Orlando, FL on Thursday, April 19, 2007. Co-presenting is Judy Morris from MorningStar Health.

Mr. Rector received his law degree, magna cum laude, from the University of Michigan Law School in 1975 and his undergraduate degree from Kalamazoo College in 1971. His practice is focused on representing employers in labor and employment law matters. Mr. Rector has a specialized occupational safety and health practice including providing extensive training on regulatory compliance and liability issues relating to workplace safety and health. He is the author of Occupational Safety and Health, Guide for Michigan Employers, published by the Michigan Chamber of Commerce, 2006 (4th edition).

Mr. Rector is involved in several professional associations, including the American Bar Association, the Grand Rapids Bar Association and the State Bar of Michigan, where he serves on the Labor and Employment Law Section Council. He is also an officer of the Grand Rapids Bar Association’s Labor and Employment Law Section. Mr. Rector is named in The Best Lawyers in America® for labor and employment law. He is named as a Michigan "Super Lawyer" for employment and labor.

Founded in 1959, Miller Johnson has more than 90 attorneys practicing from offices in Grand Rapids and Kalamazoo. A full-service firm, Miller Johnson’s attorneys provide legal counsel to businesses and individuals in areas such as employment and labor, mergers and acquisitions, employee benefits, estate planning and litigation.

The American Association of Occupational Health Nurses, Inc. (AAOHN) annual Symposium & Expo in Orlando, FL will have more than 1,700 occupational and environmental health nurses and more than 100 exhibitors attending. It will be the premier educational and networking event for the occupational and environmental health profession.

03-19-2007

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Maslon Edelman Borman & Brand, LLP

David Schultz Elected Chair of the Board for the Innocence Project of Minnesota
Maslon Edelman Borman & Brand, LLP, is pleased to announce the recent election of David Schultz as Chair of the Board of Directors for the Innocence Project of Minnesota (IPMN).

The Innocence Project of Minnesota (IPMN), part of the National Innocence Network, provides investigative and legal assistance to inmates with provable claims that they are actually innocent of the crimes they are imprisoned for. IPMN also works to raise public awareness about the prevalence and causes of wrongful conviction as well as promotes substantive legal reforms to prevent future wrongful convictions.

David Schultz is a partner in Maslon's Litigation Practice Group focusing on trial and appellate work in intellectual property and commercial litigation, and civil and criminal fraud. He has also developed a practice in conducting public and private investigations. Prior to being elected to Chair, Schultz served as Secretary of the Board for the IPMN (2002 to 2006).

03-19-2007

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