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Skadden, Arps, Slate, Meagher & Flom’s attorneys in Paris and Palo Alto helped Yahoo Inc. acquire Kelkoo S.A., an online comparison shopping service operating in nine European countries. Under the terms of the deal, Yahoo will acquire up to 100 percent of the share capital of Kelkoo for approximately $575 million in cash. Skadden partner Kenton King said the transaction, announced March 26, was structured as a sort of “private tender offer” since Yahoo offers to all shareholders, warrant and option holders the chance to tender their shares and/or rights on the same terms and conditions as those offered to investment funds, the founders of the company and its main shareholders. The cross-border nature of the transaction also made it complicated. “Although Kelkoo is not listed, it has almost 300 shareholders and warrant or option holders throughout Europe requiring compliance with securities and labor laws in multiple jurisdictions,” said King, who heads Skadden’s San Francisco and Palo Alto offices. Founded in 1999, Paris-based Kelkoo reaches nearly 10 percent of all European Internet users. Yahoo said the acquisition would boost the company’s online commerce in Europe. Yahoo has purchased several search companies in the last two years, including Overture Services Inc. for $1.6 billion, Inktomi Corp. for $235 million and HotJobs.com Ltd. for $436 million. Skadden represented Yahoo in the Overture and HotJobs.com deals and served as counsel to Inktomi in its acquisition by Yahoo. Pierre Servan- Schreiber, a partner in Skadden’s Paris office, led the deal team. King assisted the team, which also included counsel Pascal Bine and associates Claire Le Gall- Robinson, Stephane Heliot, Armelle Hugon, Nicolas de Witt and Ani Koucheva, all based in Paris. The Paris firm Orsay represented Kelkoo. — Brenda Sandburg Special Delivery: NetScaler gets $ 20 mil in Venture funds Wilson Sonsini Goodrich & Rosati represented NetScaler Inc. in a $20 million venture capital funding deal. The March 15 transaction was the Santa Clara-based company’s second round of financing in a venture capital market that is showing signs of heating up. “It was a deal that engendered a lot of interest,” said Steven Bochner, a partner at Wilson Sonsini’s Palo Alto office who led the deal. According to Bochner, several venture capital firms were interested in funding NetScaler. In the end, Focus Ventures was selected to be the lead investor, with NetScaler and existing investors Sequoia Capital, Goldman Sachs & Co., Gabriel Venture Partners and Bay Partners also contributing to the funding round. Sequoia was the lead investor in the first, $13 million funding round, in which NetScaler was also represented by Wilson Sonsini. NetScaler develops networking systems that enhance the delivery of Internet applications. In addition to Bochner, Wilson Sonsini Palo Alto partner Eric Finseth and associates Christine Wong and Barbara Wiseman worked on the deal. — Alexei Oreskovic local firms abound in biotech megadeal Latham & Watkins guided the world’s largest biotechnology company, Amgen Inc., through its $1.3 billion purchase of Tularik Inc., a South San Francisco biotechnology research and development outfit. Latham managed the bulk of the work for Amgen while Paul, Hastings, Janofsky & Walker handled most of the employment issues in the deal. Cooley Godward represented Tularik in the stock swap transaction, which will make Tularik a wholly owned Amgen subsidiary. Under the terms of the deal, Tularik’s shares are valued at $25. The transaction, which was announced Monday, is expected to close in the second half of 2004. The deal will give Amgen an outpost in the Bay Area’s booming biotech region. Orange County-based partner Charles Ruck led the Latham team, which included partners Paul Tosetti, Christopher Kaufman and a group of Orange County associates including Jonn Beeson, Kevin Espinola, Paul Shen and Shivaun Cooney. Paul, Hastings’ Robert Carlson served as head partner for his team, which included partners Paul Cane Jr., Eric Joss, Victoria Cundiff, Michael Lindsey and Joseph Poerio. Associates Jason Morgan, Eric Keller and Martin Boskovich also contributed. On Cooley’s team were lead partner Suzanne Sawochka Hooper, partners Thomas Reicher, Robert “Buff” Miller, Judith Hasko and associates Gina Edwards, Mischi a Marca, Soo Kim, David Peinsipp, Lila Hope and Brian Quinn. – Adrienne Sanders

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