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Orrick, Herrington & Sutcliffe’s San Francisco office represented Condor Systems Inc., a defense electronics firm that manufactures electronic warfare systems, in its acquisition by EDO Corp., an electronic engineering firm. The $110 million transaction closed July 26. Corporate partner Richard Grey, who led the deal for Orrick, worked in conjunction with lawyers in the Los Angeles and San Francisco offices of Murphy Sheneman Julian & Rogers. Condor Systems filed for bankruptcy protection in November 2001 and had been working on a reorganization plan with attorneys at Murphy. After EDO offered to purchase the company, the sale was approved by the U.S. Bankruptcy Court for Northern California. Grey said the deal was a bit tricky at times. “[Certain accounting issues] resulted in numerous hours of negotiation between the buyer and seller and presented a host of interesting legal issues,” Grey said. Name partner Patrick Murphy worked with Grey out of Murphy Sheneman’s San Francisco office. Murphy said his firm put together the reorganization plan for the bankrupt Condor, “but when EDO came along we put the plan on the shelf, and now that the deal is closed we [can] share the proceeds with the different constituencies.” Murphy and Grey said they have worked together many times over the years. “[Murphy] is an excellent firm,” Grey said. “And it’s really a pleasure to work with them on a case like this that comes to a good result.” Orrick’s San Francisco-based associates Lynne Hirata and John Borkholder and tax partner Greg Riddle assisted Grey on the deal. Partners in Murphy Sheneman’s Los Angeles office assisted Murphy in the transaction. EDO was represented by lawyers in the Philadelphia offices of Dechert, the international business law firm. UnionBanCal/ Valencia Bank Lawyers in the San Francisco office of Bingham McCutchen helped UnionBanCal Corp. through its merger with Valencia Bank & Trust. The deal has been valued at $62 million. Bingham partner James Rockett led the deal. Union Bank will pay $31 million in cash and $31 million in UnionBanCal common stock. Valencia Bank, a commercial bank based in Santa Clarita, has assets valued at $267 million. The deal provides Union Bank entry into the Santa Clarita and Antelope Valley markets. “It’s the continuation of Union Bank’s plan to acquire community banks in areas where they want to increase their presence,” Rockett said. “It’s their second such deal in six months.” Valencia Bank was represented by Jack Fried, lead partner in the Los Angeles firm, Fried, Bird & Crumpacker. Rockett was assisted in the San Francisco office by of counsel Venrice Palmer and partner Roger Ehlers. UnionBanCal’s in-house counsel included Morris Hirsch, Ted Davis, Gino Chilleri and Dawn Ross.

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