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Stephen E. Older is a partner of the law firm McDermott Will & Emery LLP in the Firm’s New York office. He is head of the Corporate Department for the New York Office and co-head of the firm wide Securities Practice Group where he is engaged in the practice of corporate and securities law, with a concentration on public offerings and private placements, including private investments in public equity (Pipes) transactions. He also has a very active practice representing hedge and private equity funds in transactions, as well as trading and general advice. In addition, he has been involved in numerous private and public mergers and acquisitions transactions.
Representative Recent Securities Transactions
Represented a syndicate of underwriters led by Bank of America in a $158 million shelf takedown of a Bermuda based reinsurance company. Also represented the company in its $192 million initial public offering led by Morgan Stanley, SSB, Bank of America and Dresdner Kleinwort.
Represented an owner of television stations in a $405 million senior secured notes offering.
Represented Vector Group in connection with its $165 million senior secured notes offering.
Represented a leading NYSE-listed dermatological pharmaceutical company in connection with a $500 million exchange offer and a Rule 144A $400 million contingent convertible senior notes offering.
Represented a syndicate of underwriters, led by DLJ and Merrill Lynch, in connection with a $100 million initial public offering of the leading producer of power sources for medical devices and a $178.5 million follow-on offering led by CSFB and Morgan Stanley.
Represented one of the largest supermarket companies in the United States in connection with its Rule 144A, Regulation S $2.6 billion investment grade debt offering, underwritten by Salomon Smith Barney, Deutsche Bank Alex Brown and JP Morgan, and associated exchange offer.
Represented a syndicate of underwriters, led by Morgan Stanley, in connection with a $2.5 billion initial public offering of ADRs of Korea Telecom Corp. in which the Korean government was a selling shareholder.
Representative Recent Private Equity Transactions
Represented Morgan Stanley Principal Investments in connection with its equity commitment in connection with the $45 billion leveraged buyout of TXU Corp.
Represented Morgan Stanley Principal Investments with respect to its equity commitment in connection with the acquisition by Mitel Networks Corporation of Inter-Tel Inc.
Represented the investors in the $90 million investment in a domestic airline sponsored by Virgin America.
Represented a private equity investment firm in connection with its $126 million investment in a telecommunications services company.
Represented a provider of colocation services in connection with Series A and B preferred stock investments aggregating more than $200 million.
Represented a French telecommunications company in connection with a $250 million equity investment by DLJ Merchant Banking.
Representative Recent Mergers and Acquisitions Transactions
Represented the audit committee of the board of directors of the general partner of a master limited partnership in connection with the partnership’s $440 million acquisition of certain assets owned by an affiliate of the general partner.
Represented a special committee in an $880 million acquisition by the CEO of a Nasdaq listed credit card processor.
Represented a publicly traded Sprint PCS affiliate in a stock-for-stock merger with another Sprint PCS affiliate for $275 million.
Represented a Korean electronics company in connection with the sale of its power device division for $455 million.
Represented one of the largest supermarket companies in the United States in connection with its purchase of a grocery store chain in a $3.6 billion public merger for cash and stock.
Stephen is admitted to practice in New York. He frequently speaks and writes on corporate law issues.
Education
Columbia Law School, J.D., 1988
University of Pennsylvania, B.A. (summa cum laude), 1985 | 