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Attorneys in the San Francisco office of Squire, Sanders & Dempsey represented Bank of Canton of California in the sale of all of its shares to UCBH Holdings Inc., the holding company of United Commercial Bank. Lawyers in the San Francisco office of Coudert Brothers represented UCBH in the transaction. Bank of Canton’s assets were valued at about $1.45 billion on June 30. The transaction is expected to close in the fourth quarter of this year after regulatory approval. “It was fascinating and instructive for our legal team to observe Bank of Canton’s CEO, an investment banker, orchestrate multiple bidders to achieve top dollar for the bank’s shareholders,” said David Kenny, the lead partner at Squire, Sanders & Dempsey. Both banks are headquartered in San Francisco. Bank of Canton operates 12 offices in California, including eight in the Bay Area. United Commercial Bank has 30 offices in the state. The banks were established to serve the needs of the Chinese-American community. Kenny added that the combination of the two commercial banks is designed to benefit both their present and future customers. In addition to Kenny, partners Nicholas Unkovic and Remsen Kinne IV; of counsel Alexander “Sandy” Calhoun and associates Eric Marcks, Richard MacBride and summer associate Karen Yan worked on the deal. Coudert Brothers partner James Topinka and associate A. Anna Capelle and UCBH in-house counsel Dennis Lee worked on the deal for UCBH. YAHOO STOCK PURCHASE Attorneys in the Palo Alto office of Skadden, Arps, Slate, Meagher & Flom represented Yahoo Inc. in its re-purchase of 11 million shares of stock from Softbank America Inc. The deal is valued at about $100 million. Lawyers in the Palo Alto office of Sullivan & Cromwell represented Softbank in the transaction. “The two legal teams pulled together and worked well with their respective in-house counterparts to get the deal done quickly,” said Thomas Ivey, the lead partner on the deal for Skadden. Skadden partner Kenton King and associates Leif King and Rukaiyah Adams also worked on the deal. Partner John Savva led the deal for Sullivan & Cromwell. Partner Scott Miller and associate Harry Demas also worked on the deal. Attorney Michael Callahan served as Yahoo’s in-house counsel.

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