Simpson Thacher Represents TD Bank in the Acquisition of Target’s U.S. Credit Card Portfolio
10.25.12
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Simpson Thacher is representing TD Bank Group in connection with its acquisition of Target’s U.S. credit card portfolio. The transaction is expected to be valued at $5.9 billion, representing the current gross value of outstanding receivables. Headquartered in Minneapolis, Minnesota, Target is a retail company with over 1,700 stores throughout the United States. TD Bank Group is the sixth largest bank in North America by branches and serves approximately 22 million people globally. The transaction is expected to close in the first half of 2013, subject to customary closing conditions.
The Simpson Thacher team includes Maripat Alpuche, Lee Meyerson, Daeyna Grant, Misan Ikomi and Corina Gugler (M&A); Stacie McGinn, Cara Walsh and Audra Amarosa (Financial Institutions Regulatory); Laura Palma (Structured Finance); Michael Naughton (Antitrust); Steve Todrys, Jonathan Goldstein and Danny Salinas (Tax); and Lori Lesser and Jodie Sopher Pimentel (Intellectual Property).