ISN'T IT RICH? - American Business Media

ANNE LUNSFORD / OWNERANNE F. LUNSFORD, P.A.MEDICAL MALPRACTICE ATTORNEYSINCE 1997 3 EMPLOYEESTo find out who is the dealmaker of the week, go to americanlawyer.comZynga IPOSTAYINGIN MOTIONCHALLENGE: Anne’s law practice had a steadycaseload, but only one attorney: herself. That meantjuggling multiple cases along with monthly payrolland bills. She needed help managing her cashflow — and a bank that could keep up.SOLUTION: Anne had the Cash Flow Conversationwith her PNC banker, who put his detailed knowledgeof the legal profession to work. Together, they setup a PNC Professional Services Checking accountwith Online Banking. Anne was now able to see herfull financial picture 24/7, even while on the go.Plus a line of credit helped cover research fees andexpenses leading up to her trial dates.ACHIEVEMENT: Anne’s practice now has the financialresources and support she needs to keep it movingforward, and Anne has the peace of mind to giveevery case her undivided attention.TO WATCH ANNE’S FULL STORYscan this code or go to pnc.com/cfoand see how The PNC Advantage forProfessional Services can help solveyour business challenges, too. Call1-877-535-6316 or visit a PNC branch to start yourown Cash Flow Conversation today.ACCELERATE RECEIVABLESIMPROVE PAYMENT PRACTICESZynga Inc. went public on December 16 in the largest initialpublic offering by a technology company since that ofGoogle Inc. in 2004. Zynga develops online games suchas CityVille, FarmVille, Mafia Wars, and Words With Friends.The company offered 100 million shares at $10 each in one of themost anticipated tech IPOs of last year along with the debuts ofLinkedIn Corporation [Big Deals, July 2011] and GroupOn, Inc.[Big Deals, January].Zynga stock opened at $11 a share on the first day of trading onNasdaq but closed at $9.50 and continued to struggle in the weeksthereafter, falling as low as $7.97. It closed at $10.60 on February 1,which gave it a market value of $7.4 billion.FOR ISSUER ZYNGA INC.(SAN FRANCISCO)In-House: General counsel ReggieDavis, deputy general counselKaryn Smith, and senior corporatecounsel Devang Shah.Cooley: Corporate: KennethGuernsey, Eric Jensen, JohnMcKenna, David Peinsipp, PeterWerner, and associates AmandaBusch, Matthew Roberts, andElizabeth Zeratsky. Executivecompensation and benefits: WendyDavis and associate Ashlie Lawton.Tax: Mark Windfeld-Hansen.(All are in San Francisco exceptfor Jensen, McKenna, Davis, andWindfeld-Hansen, who are in PaloAlto, and Lawton, who is in Reston,Virginia.) Cooley had previously donework for Zynga. Smith was a Cooleypartner from 1992 to 2002.FOR LEAD UNDERWRITERS MORGANSTANLEY (NEW YORK) AND GOLDMAN,SACHS & CO. (NEW YORK)Ropes & Gray: Corporate: BrianErb, Keith Higgins, and associatesMeredith Connolly andRachelle Soderstrom. Intellectualproperty: Edward Black, DavidMcIntosh, and associate AdinnaSmith. (All are in Boston except forErb, Connolly, and Soderstrom, whoare in San Francisco.) Erb representedZynga in 2010 when the companyacquired social gaming developersNewtoy, Inc., and Conduit Labs, Inc.—David MarcusEastman Chemical /SolutiaEastman Chemical Companyagreed to acquireSolutia Inc. for $3.4 billionin cash and stock on January27. Eastman will pay $22 in cashand 0.12 shares for each Solutiashare, which values the targetat $27.65 per share, a 42 percentpremium over its closing priceon January 26. Eastman will alsoassume $1.3 billion in Solutiadebt, giving the deal a total valueof $4.7 billion.Solutia produces specialtychemicals used in the automotiveand construction industries.Spun out from MonsantoCompany in 1997, Solutia filedfor Chapter 11 six years laterbecause of liabilities assigned toit in the spin-off and emergedfrom bankruptcy protectiononly in 2008.Eastman and Solutia hopeto close the deal in the middleof the year pending approvalsfrom regulators and targetshareholders.FOR ACQUIROR EASTMANCHEMICAL COMPANY (KINGSPORT,TENNESSEE)In-House: Chief legal and administrativeofficer Theresa Lee andassociate general counsel DavidGolden.Jones Day: M&A: Bryan Davis,William Rowland, LizanneThomas, William Zawrotny,and associates Justin Hitchcock,James Hsiung, Rebecca Smith,and K. Scott Voelker. Capital mar-kets: Mark Hanson and of counselNeil Simon. Banking and finance:Robert Graves and of counselTodd Roach. Employee benefitsand executive compensation: TravisDeHaven, Rory Lyons, andassociate Nicole Adolphus. Tax:Jerry Smith. Antitrust: J. BruceMcDonald. Government regulation:of counsel Charles Perry. (All arein Atlanta except for Graves, who isin Chicago, and McDonald, who is inWashington, D.C.) Rowland representedEastman last year on its $100million purchase of Sterling Chemicals,Inc., and in 2006 on the $255million sale of its polyethylene andepolene polymer unit to WestlakeChemical Corporation.Richards, Layton & Finger: Corporate:C. Stephen Bigler. (He is inWilmington.)FOR TARGET SOLUTIA INC.(ST. LOUIS)In-House: General counsel PaulBerra III and assistant generalcounsel Miriam Singer.Kirkland & Ellis: Corporate: DavidFox, William Sorabella, andassociates Richard Brand, LauraSullivan, and Jessica Woolf.Debt finance: Ashley Gregoryand Christian Nagler. Executivecompensation: Scott Price. Competition:Marimichael Skubel. (Allare in New York except for Skubel,who is in Washington, D.C.) Richard“Rick” Cieri and JonathanHenes, who led Kirkland’s representationof Solutia in its Chapter11 restructuring, introduced Fox toSolutia CEO Jeff Quinn.Solutia filed for bankruptcy in 2003and emerged from Chapter 11 in 2008.FOR SOLUTIA BOARDFaegre Baker Daniels: Corporate:INVEST EXCESS CASHLEVERAGE ONLINE TECHNOLOGYENSURE ACCESS TO CREDITThe person pictured is an actual PNC customer, who agreed to participate in this advertisement. Anne F. Lunsford, P.A.’s success was due to a number of factors, and PNC is proud of its role in helping thecompany achieve its goals. All loans are subject to credit approval and may require automatic payment deduction from a PNC Bank Business Checking account. Origination and/or other fees may apply.Bank deposit products and services provided by PNC Bank, National Association. PNC and ACHIEVEMENT are registered marks of The PNC Financial Services Group, Inc. (“PNC”). BBK-6909 ©2012 ThePNC Financial Services Group, Inc. All rights reserved. PNC Bank, National Association. Member FDICERIC JENSENCooleyKEITH HIGGINSRopes & GrayWILLIAM ROWLANDJones DayDAVID FOXKirkland & EllisFRANK AQUILASullivan &CromwellARIEL DECKELBAUMPaul, WeissDOUGLAS WARNERWeil, GotshalThe American Lawyer | March 2012 33