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Attorney Spotlight

After finishing her first year as an associate at Bass, Berry & Sims, find out what advice Margaret Dodson offers to new attorneys. Read more>

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On December 1, 2016, Parker Hannifin Corporation and CLARCOR Inc. announced that the companies have entered into a definitive agreement under which Parker will acquire CLARCOR for approximately $4.3 billion in cash, including the assumption of net debt. The transaction has been unanimously approved by the board of directors of each company. Upon closing of the transaction, expected to be completed by or during the first quarter of Parker’s fiscal year 2018, CLARCOR will be combined with Parker’s Filtration Group to form a leading and diverse global filtration business. Bass, Berry & Sims has served CLARCOR as primary corporate and securities counsel for 10 years and served as lead counsel on this transaction. Read more here.

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Thought Leadership

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Blueprint for an IPO

Companies go public to raise capital to fuel growth, pay down debt and provide liquidity to shareholders. Although all issuers and offerings are different, the basic process of going public remains relatively constant. Blueprint for an IPO identifies the key players, details the process and identifies the obligations companies will face after going public.

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$1.1 Billion in Financings for Brookdale Senior Living Inc.

Client Type: Public Company

We closed three loans on 73 senior living communities with combined proceeds in excess of $1.1 billion. Two financings, an agency financing and a bridge loan financing with combined proceeds in excess of $702 million, closed in connection with the acquisition of 64 senior living communities (58 of which are part of the financings) by a new joint venture with affiliates of Blackstone Real Estate Partners VIII L.P. In addition to acquiring the communities as a member of the joint venture, Brookdale entered into new management agreements with respect to each of the communities that are part of the financing. Separately, an existing Brookdale/HCP joint venture refinanced existing agency debt on 15 senior living communities with synthetic debt, with proceeds of $470 million.

Brookdale Senior Living (NYSE: BKD) is the nation's largest owner and operator of senior living communities throughout the United States and a leading national provider of senior-related services.

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