Davis Polk & Wardwell LLP advised J.P. Morgan Securities Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated as joint book-running managers on an SEC-registered offering by Kennametal Inc. of 8,050,000 shares of its common stock, including the over-allotment option. The net proceeds of the offering were approximately $121 million.

Headquartered in Latrobe, Pennsylvania, Kennametal is a leading global supplier of tooling, engineered components and advanced materials that are consumed in production processes. Kennametal specializes in developing and manufacturing metalworking tools and wear-resistant parts using a specialized type of powder metallurgy.

The Davis Polk corporate team included partner Deanna L. Kirkpatrick, associates Eilleen J. Park and Shanelle van der Berg (not yet admitted) and summer associates Marlon Arias and Robert F. Young. Counsel Loyti Cheng and associate Hayden Baker provided environmental advice. Partner Harry Ballan and associate Ari Weinstein provided tax advice. Eric Ross and Amarilys Katy Barbosa were the legal assistants on the transaction. All members of the Davis Polk team are based in the New York office.