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Terry Kee, partner at San Francisco-based Pillsbury Madison & Sutro, spent the last week holed up in Manhattan’s Waldorf Astoria with former firm chairman Alfred Pepin, shuttling back and forth between the hotel and the handful of New York law offices where the Chevron/Texaco merger was being finalized. On Sunday evening, the frenzied group of executives and attorneys descended upon the midtown offices of Texaco’s lead counsel, Davis Polk & Wardwell, signed the deal, made one of the quickest champagne toasts Kee said he had ever seen, and then rushed off to answer to the throngs of media waiting for the official word. “As lawyers we work on lots of deals, some of them big and some of them small. It’s not often that you work on a deal that is front-page news in The New York Times,” Kee, who headed up the transaction team for Chevron, said from his room at the Waldorf Monday. Kee worked with Pepin and New York’s Fried, Frank, Harris, Shriver & Jacobson attorney Arthur Fleischer Jr. Since Chevron and Texaco began merger discussions more than two years ago, Pillsbury, which serves as Chevron’s chief outside counsel, has been the legal locus of negotiations. In the wake of the definitive agreement on Sunday, Pillsbury will see Chevron through the regulatory process with the Securities and Exchange Commission and the Federal Trade Commission, and through the accounting processes that will “pool” the two companies’ accounting interests. Terry Cavali, a partner in Pillsbury’s Washington, D.C., office, will oversee the antitrust regulatory process, which industry analysts expect will be a somewhat arduous one. Cavali will work on this process along with D.C. firm Howrey Simon Arnold & White, which is now used by Texaco. Pillsbury hopes to ride the wave of the merger, which will create the world’s fourth largest integrated oil conglomerate, with a market capitalization exceeding $85 billion. “With our client’s businesses expanded around the world, we hope to continue to represent them around the world,” Kee said initially, and then tempered it with, “It’s really not possible to speculate on what will happen down the road.” “All you can say for sure is that it will make the client stronger, and one would expect that there would be more opportunities for the firm,” he added. “Whether we get all of these opportunities remains to be seen.” Chevron spokesman Fred Gorell said it would be “premature” to say whether Pillsbury will continue as the oil company’s lead outside counsel. In its press release, Chevron listed Pepin, the former Pillsbury chairman who has represented the oil company for more than 30 years, at the top of its list of advisors. Fried Frank, which has a relationship with Chevron more than a decade old, was next, and then Pillsbury. The law firms advising Texaco in the deal included Davis Polk & Woodward; D.C.’s Howrey Simon; and New York’s Weil Gotshal & Manges. Davis spokesman Geoffrey Goldberg said he did not know whether his firm would continue to do work for the new company, and refused to speculate. Other attorneys from Pillsbury who worked on the deal include San Francisco partners Rodney Peck and Thomas Rector, and Washington, D.C., partners Cecil Chung and Amy Spence, as well as San Francisco associates David Koeninger, Stephen Williams and Joseph Chan.

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