News & Events

Simpson Thacher represented The Toronto-Dominion Bank (“TD Bank”), as selling stockholder, in connection with a secondary offering of common stock of The Charles Schwab Corporation (“Schwab”) and concurrent share repurchase by Schwab. The offering raised approximately $12.9 billion in net proceeds, before expenses, and the share repurchase was for a total purchase price of $1.5 billion. As a result, TD Bank has disposed of all its shares in Schwab, which were acquired in connection with...

On January 31, 2025, Simpson Thacher secured a win for Mattress Firm Group Inc. in the Southern District of Texas when U.S. District Judge Charles Eskridge denied the FTC’s motion for a preliminary injunction to block Mattress Firm’s acquisition by Tempur Sealy International, Inc. Contrary to the FTC’s allegations that “millions of Americans would likely face higher prices, lower quality, and fewer choices,” the Court found that the acquisition is “either neutral or procompetitive” and “in the...

Simpson Thacher is representing affiliates of KKR in connection with their acquisition of Dawsongroup plc (“Dawsongroup”), a leading independent asset leasing business headquartered in the UK, from the Dawson family and other existing shareholders.  The transaction is subject to receipt of regulatory approvals. Financial terms of the transaction were not disclosed. Dawsongroup is a sector leader in asset leasing, including vehicles and refrigerated boxes, with a broad and integrated business...

Simpson Thacher is representing Macquarie Asset Management (“MAM”) in its investment of up to $5.0 billion in the high performance computing (“HPC”) data center business of Applied Digital Corporation (“APLD”), a designer, builder and operator of next-generation digital infrastructure. The investment will support the development of APLD’s HPC data center pipeline. Funds managed by MAM will invest up to $900 million in APLD’s Ellendale HPC data center campus in the form of a perpetual preferred...

Simpson Thacher recently represented iHeartMedia, Inc. (the “Company”) in comprehensive strategic exchange offers and consent solicitations for the Company’s existing term loans, senior secured notes, and senior unsecured notes. Pursuant to the exchange transactions, approximately $4.8 billion (or 92.2%) of the aggregate principal amount of the Company’s existing debt was exchanged into new debt instruments with extended maturities. As a result of the exchange transactions, the maturities on...

On December 9, 2024, Simpson Thacher secured a win in the Ninth Circuit, when the court affirmed the dismissal with prejudice of a LIBOR conspiracy case filed against client JPMorgan in the Northern District of California.  In 2020, a group of credit card borrowers and loan consumers filed suit against JPMorgan, along with other banks and financial institutions, alleging a conspiracy to fix the LIBOR rate and manipulate the price of LIBOR-linked instruments. In October 2023, the U.S. District...

Simpson Thacher represented Blackstone in connection with the establishment and fundraising of the inaugural series of its evergreen institutional U.S. direct lending fund, Blackstone Senior Direct Lending Fund (“BXD”). Blackstone announced that it has closed on approximately $22 billion of investable capital for the inaugural series of BXD and related vehicles, including anticipated leverage, exceeding Blackstone’s $10 billion target. The Simpson Thacher team representing Blackstone included...