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Davis Polk has considerable experience providing advice and handling litigation concerning pre- and post-closing challenges to mergers and acquisitions. In addition to our work in contested mergers, we defend buyers, sellers, financial advisers and accounting firms against claims concerning post-closing adjustments, indemnities, breaches of contract, fraud and misrepresentation.

• We represented Roche on its proposed acquisition of Ventana Medical Systems, including a litigation in Arizona state court resulting in a finding that an element of Arizona's anti-takeover statute is unconstitutional.
• We represented a group of six banks, led by Citigroup and Deutsche Bank, in litigation arising from a dispute related to the financing of one of the largest-ever leveraged buyouts -- the acquisition of Clear Channel Communications, a radio broadcast and billboard-advertising company, by affiliates of private equity sponsors Bain Capital and TH Lee Partners. This litigation, which had been brought in the New York and Texas courts, was settled as part of a restructuring of the transaction at a lower price and with reduced loans by the bank group.
• $53 billion acquisition by Comcast Corporation of AT’T Broadband to form AT&T Comcast Corporation, the largest cable company in the United States
• $10.3 billion successful hostile takeover by Oracle of PeopleSoft—this is believed to be the largest-ever all-cash offer in the technology industry
• $6.1 billion proposed merger of Royal Caribbean and P&O Princess
• $1.2 billion acquisition by Telefónica of an additional 33-percent stake in Terra Lycos, increasing its ownership to approximately 72 percent
• $863 million acquisition by Tyco of the remaining stake it did not already own of TyCom
• $243 million acquisition by LVMH Moët Hennessy Louis Vuitton of Donna Karan International
• $235 million acquisition by Yahoo! of Inktomi
• $121 million merger of Netro and SR Telecom