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The granddaddy of yellow pages is trying to reestablish its industry position by purchasing the sixth-largest directory publisher in the United States. In September, R.H. Donnelley Corporation-which published the first yellow pages in 1886-announced that it would buy Sprint Corporation’s directories business for $2.23 billion in cash. Staring at a $1 billion debt payment due this past November, Sprint started looking for a buyer last spring. Donnelley beat out Thomas Lee Partners and Spectrum Equity Investors, both Boston-based buyout firms. The Goldman Sachs Group, Inc., is purchasing $200 million worth of convertible preferred stock to help finance the deal, which will entitle the bank to two seats on the board. For acquiror R.H. Donnelley Corporation (Purchase, New York) In-house: General counsel Robert Bush. Jones, Day, Reavis & Pogue ( Cleveland): M&A: John Hyland and associates Alexis Gratt, Andrew Levine, A. Guthrie Paterson III, Marilyn Sonnie, and Amanda Wallace. Preferred stock financing: Thomas Daniels and associates Tamara Brandt, Christopher Hewitt, Gina Killian, Jennifer Kogut, Jason Oblander, and Kimberly Pustulka. Lending: Glenn Arden, Robert Graves, and associate Gregory Bauer. Restructuring: John Rapisardi and associate Andrew Buck. Tax: Daniel Kusnetz and associate Charmaine Slack. Antitrust: Kathryn Fenton and Phillip Proger. Benefits: John Cornell and associate Sheldon Blumling. Intellectual property: Joseph Dreitler and associate Brian Downey. Real estate: Robert Shansky and associate Susan Burlazzi. Environmental: Michael Dolan and associate Kalyn Johnson. (Hyland, Gratt, Levine, Paterson, Sonnie, Wallace, Rapisardi, Buck, Kusnetz, Slack, Cornell, Shansky, Burlazzi, and Johnson are in New York; Graves and Dolan are in Chicago; Fenton and Proger are in Washington; Blumling is in Atlanta; and Dreitler and Downey are in Columbus.) For investor The Goldman Sachs Group, Inc. (New York) In-house: Vice president and assistant general counsel Stuart Leichenko. Fried, Frank, Harris, Shriver & Jacobson ( New York): Corporate: Stuart Gelfond, Craig Miller, Robert Schwenkel, David Shine, and associates Murray Goldfarb, Gavin Gordon, Benjamin Kozinn, Andrew Lerner, Marcello Liguori, and Angelique Mamby. Tax: Jack Jacobson. Executive compensation/ employee benefits: Howard Adler and associates William Burt and Adam Scoll. Antitrust: special counsel Eric Queen. For seller Sprint Corporation (Overland Park, Kansas) In-house: General counsel J. Richard Devlin; M&A counsel Barbara Erker, Michael Ragsdale, and Charles Wunsch; regulatory counsel Linda Gardner; and trademark counsel Michael Allen. King & Spalding ( Atlanta): M&A: Michael Egan III and associates Raymond Baltz, Christin Camp, Jessica Dhuyvetter, and T. Stephen Johnson. Employee benefits: Donald Kohla and associate Jan Marsh. Private equity: Michael O’Brien. Tax: Robert Woodward and associates Leon Hirth and M. Todd Prewett. (Hirth is in New York.) For target Sprint Publishing & Advertising, Inc. (Overland Park, Kansas) In-house: General counsel Terry Hurley. Outlook The deal is expected to close this year pending federal antitrust clearance.

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