With a reputation for capital markets prowess
and First Amendment excellence, Cahill Gordon & Reindel LLP is
the picture of an effective-and conservatively managed-firm. With
around 350 attorneys, Cahill focuses on a pool of practice areas
ranging from corporate finance to crisis advisory and
Cahill was founded in 1919, and from the
start, it proved itself as a player in corporate law and finance.
Its best-known name partner was John T. Cahill, a former U.S.
attorney for New York's Southern District in Manhattan-an office
that The New York Times dubbed "one of the city's
most powerful clubs." Cahill led a period of growth and expansion
after World War II; over time, the firm welcomed partners and
attorneys with stints at the U.S. Department of Justice, the
Federal Trade Commission, the SEC and the Treasury Department.
Today, in addition to its financial services and banking clients,
Cahill represents clients in a variety of practice areas, from real
estate to government investigations.
Keeping up with firms more than ten times its size, Cahill
consistently ranks among the most profitable operations in the
country on a per-partner basis. With global debt and equity capital
markets and bank financing deals as the firm's forte, Cahill
represents numerous leading banks and multinational companies. In
recent times, Cahill has advised the underwriters in the IPO of
Ally Financial (formerly known as GMAC) in a move by the company to
improve its financial program and to repay T.A.R.P. funds allocated
to it by the U.S. Treasury following the financial crisis and in
the IPOs of HCA, Inc., Nielsen and Aramark-all among the largest
U.S. private-equity backed IPOs. Cahill also helped NBC in its
recent $7.75 billion acquisition of the exclusive broadcast rights
to the Olympic Games through 2032 and represented 1-800-Flowers.com
in its acquisition of Harry & David. Turning to LBOs, the firm
has counseled the financiers behind the recent leveraged buyouts of
Dell, H.J. Heinz, Dole Foods, Gates Global, Tibco Software and
Illinois Tool Works, as well as in eight of the ten largest buyouts
completed in the 2006-07 buyout boom. In a testament to Cahill's
transactional track record, the firm has won many honors and topped
many rankings thanks to its corporate finance practice.
That's not to say Cahill's a one-trick pony, though. The firm
has also forged a reputation as a formidable house for litigation.
Some of Cahill's notable recent clients include AIG, Credit Suisse,
Deustche Bank, McGraw-Hill Financial, Inc. (and its subsidiary
Standard & Poor's Financial Services LLC), and Time Warner
Cable. Partner Floyd Abrams, considered by many to be the foremost
First Amendment advocate of his time, has played key roles in a
number of defining free-speech decisions, including his defense of
The New York Times in the Pentagon Papers case and his
subsequent representation of reporters Matt Cooper and Judith
Miller as the federal government tried to pressure them to divulge
the identities of anonymous Capitol Hill sources. Recently, Cahill
represented Pulitzer Prize-winning author James Risen in connection
with a subpoena for testimony about the identity of his
confidential sources. Following lengthy litigation, the U.S.
Department of Justice withdrew its effort to have him testify in
March of 2015. The firm continues to build its securities
litigation & white collar defense practice, with a caseload
that includes high-profile litigations relating to financial
crisis-era losses involving structured products and derivatives,
benchmark rates, "dark pools" and high-frequency trading.
Just What the Doctor Ordered
Cahill advised the financing sources in their various capacities as
initial purchasers, underwriters, agents and lead arrangers in
debt, equity and bank financing transactions that backed the $15.8
billion acquisition of Salix Pharmaceuticals by Valeant
Pharmaceuticals. The deal was consummated in a relatively
compressed time frame, in which Cahill represented Deutsche Bank
Securities, HSBC, MUFG, DNB Markets, SunTrust Robinson Humphrey,
Barclays, Morgan Stanley, RBC Capital Markets and Citigroup in
providing committed financing for the acquisition as well as each
of the three distinct bank, bond and equity transactions that
collectively generated proceeds of over $16.5 billion to fund the
Cahill represented Foresight Energy in the acquisition of a
significant economic interest of Foresight Energy by Murray Energy
Corporation for a cash consideration of approximately $1.37
billion. The merger of the two major coal companies has created one
of the nation's biggest coal mining companies.
Cahill represented McGraw-Hill Financial, Inc. and Standard &
Poor's Financial Services in connection with lawsuits commenced by
the United States, 19 states, the District of Columbia and numerous
private litigants in connection with S&P's credit ratings of
mortgage-backed and other structured finance securities. Since
2009, Cahill has obtained dismissals in 29 S&P-related
litigations around the country and has won numerous appeals.
Protecting Journalistic Integrity
After a nearly eight-year legal battle to keep New York
Times reporter James Risen from having to testify about the
identity of his confidential sources, the U.S. Department of
Justice withdrew its effort to have him do so. Mr. Risen's 2006
book, State of War, used confidential sources to describe
a failed CIA operation. Cahill represented Mr. Risen in connection
with this case since 2007, when he was first contacted by the
Justice Department as part of an effort to compel him to identify
those sources as part of the government's efforts to prosecute a
former CIA officer for allegedly leaking the information to Mr.
Whopper of a Deal!
Cahill represented the financing sources in bank loan and bond
issuance transactions with an aggregate value of $9 billion, to
fund the acquisition of Canadian coffee giant Tim Horton's by
Burger King. On the bank side, Cahill represented JPMorgan Chase
Bank and the group of lead arranging banks in a $6.75 billion bank
financing, to fund the acquisition. In connection with the bond
deal, Cahill represented Wells Fargo Securities and the other
initial purchasers in offering $2.25 billion in second lien senior
secured notes due 2022, to also fund the acquisition.
The U.S. Department of Justice appointed Cahill partner David
Kelley as the independent monitor responsible for overseeing Toyota
Motor Corp.'s compliance with safety efforts as part of the
deferred prosecution agreement Toyota entered into with the DOJ
that was announced in March 2014, following an investigation
finding the company had issued misleading statements over safety
recalls on certain of its vehicles. As the independent monitor, Mr.
Kelley leads the Cahill team that reviews, assesses and reports on
the policies, practices and procedures for Toyota's safety
compliance and communications in the United States.