O'Melveny Insights 2023

44 The ultimate measure of our success are the results we deliver for our clients. The following is a sampling of highlights from 2022. Brazos Electric Power Cooperative Secured approval of Brazos Electric’s chapter 11 plan, settling billions of dollars in claims and taking the company out of the electrical generation business. C.R. Bard Prevailed at trial on behalf of Becton Dickinson subsidiary Bard in an antitrust “tying” case brought by competitor AngioDynamics over a proprietary medical device. Johnson & Johnson Secured an unprecedented global resolution of claims from 48 states and 3,000+ cities and counties that accused pharmaceutical manufacturers—including J&J— and others of allegedly causing an opioid abuse crisis. Broadcom Advised the semiconductor manufacturer on its pending US$61 billion acquisition of multicloud services provider VMware—the second largest M&A deal of 2022 and the largest deal ever for a semiconductor manufacturer. Former Pilgrim’s Pride CEO Defended Jayson Penn not just once or even twice but three times in federal court. Following two mistrials, Penn was finally acquitted in the first Justice Department criminal antitrust prosecution to ever go to a third trial. Semtech Advised the semiconductor maker on its US$1.2 billion acquisition of Sierra Wireless, a maker of Internet of Things (IoT) technology. City of Austin Prevailed before the US Supreme Court in City of Austin, Texas v. Reagan National Advertising of Texas, a victory that will help cities nationwide stave off the proliferation of distracting and unsightly digital billboards. JFK Airport Redevelopment Counseled consortium on a US$4.2 billion deal to build, finance, and operate the new international Terminal 6 at New York’s John F. Kennedy International Airport. The Walt Disney Co. Counseled Disney subsidiary Marvel Studios on a 20-year licensing deal with Stan Lee Universe that gives Disney/Marvel a variety of rights to use Stan Lee’s name, likeness, voice, signature, and more in films, television, and digital content, as well as in theme parks and theme park experiences. 3D Medicines Advised the bio-pharma company on its listing on the Main Board of the Hong Kong Stock Exchange in late 2022, capping a year that saw us handle 10% of Hong Kong IPOs. American Airlines Achieved a major jury win for American Airlines in a decade-long monopolization battle, with the landmark result paving the way for industry-wide change and lower costs for consumers. AT&T Counseled AT&T on two simultaneous debt tender offers to purchase for cash (i) 54 series of outstanding notes (“Higher Coupon Offers”) and (ii) nine series of outstanding notes (“Discount Offers”) for a combined US$8.7 billion.