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Teresa Pahl enjoys working with long-time client American Reprographics Co. � particularly when she can explain to potential investors what, exactly, the company does. “Most people think they are a copy company,” she said. But ARC is no Kinko’s, according to the Hanson, Bridgett, Marcus, Vlahos & Rudy partner. The Glendale-based company is one of the nation’s largest providers of large-format document reproduction services for the architecture, engineering and construction industries. If a business needs to reproduce a sign, for example, they wouldn’t go to Kinko’s, Pahl said. “You take it to a place that has color digital reproduction capabilities,” the San Francisco-based attorney said. ARC also reproduces hundreds of pages of blueprints and delivers them across the country. Hanson, Bridgett took the company public in February 2003. More recently, Pahl and a team of lawyers represented ARC in its underwritten secondary public offering of 7 million common shares, worth about $228 million on the New York Stock Exchange. The company announced the deal April 6. The price of the company stock had soared from about $13 a share at its initial IPO price to a recent $33 high. Thus several shareholders who had owned stock before the company went public decided to exercise their right to register their shares on the exchange, which resulted in the offering. All of the shares being sold come from existing shareholders, so the company will not receive any of the proceeds from the offering. The Hanson, Bridgett team also included San Francisco-based partners Fred Weil, Jonathan Storper, Constance Hiatt, senior counsel Scott Smith and Marcus Wu, and associates Catherine Dwyer and Anita Zerounian. JP Morgan and Goldman, Sachs & Co. acted as joint book runners for the offering, and Robert W. Baird & Co., CIBC World Markets, Credit Suisse and William Blair & Company acted as co-managers. Sullivan & Cromwell represented the underwriters, led by Los Angeles-based partner Frank Golay Jr. and assisted by associates Ann Chen and Ian Fried. � Petra Pasternak BENEFITS OF A MERGER Douglas Rein, a legacy Gray Cary Ware & Freidenrich partner, says his old firm handled securities work for client Accredited Home Lenders Holding Co. But Rein admits Accredited might not have tapped Gray Cary � which had limited real estate experience � to handle its recently announced acquisition of Aames Investment Corp. Thanks to a merger that eventually produced global giant DLA Piper Rudnick Gray Cary, attorneys worked the $340 million transaction from San Diego, while utilizing the firm’s broad network to resolve real estate investment trust and tax issues. “The REIT component of it was something that the combination of our firms added to our skill sets and deal sheets,” Rein said. “We represented not only the accredited holding company, but their REIT subsidiary.” Under the deal terms announced May 25, approximately $109 million of the 32 percent purchase price will be paid in cash to Aames stockholders. The remainder will be paid in Accredited’s common stock at an exchange ratio of .07 shares of Accredited’s common stock for each share of Aames common stock. For a lawyer from a firm so focused on technology, the deal is an example of how work for some of the legacy Gray Cary lawyers has broadened. “By and large, it has expanded out geographic reach and our experience within industries,” he says. Also on the DLA team representing Accredited Home Lenders Holding were East Palo Alto partners Michael Frank and Mary LaVigne-Butler, San Diego partners Christian Waage, Cameron Jay Rains and Neil Balmert, New York partner Leslie Loffman, Baltimore partner Joseph Langhirt, Chicago partner Stephen Gordon, San Diego associates Thomas Sohn, Maran Turner and Michele Robichaux, and Chicago associate Robert LeDuc. Representing Aames Investment Corp. were Sullivan & Cromwell New York partners Francis Aquila and Ronald Creamer Jr. and associates Lisa DiNoto and Joshua Mandell, and Los Angeles partner Patrick Brown and associate Lisa Hageman. � Marie-Anne Hogarth

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