Deal digest

Author: | Published: 1 Apr 2005


Robert Mullen, Milbank Tweed Hadley & McCloy

Cleary Gottlieb Steen & Hamilton and Milbank Tweed Hadley & McCloy advised on one of the most high-profile initial public offerings (IPOs) of the year - the $207 million flotation of International Securities Exchange (ISE) on the New York Stock Exchange. The deal was the first time a US options exchange listed on a stock market and also saw the biggest first-day climb in share price of any IPO since 2001. Milbank Tweed advised ISE on the deal, having worked with the exchange since its inception in 1999. Robert Mullen and James Ball were the firm's lead partners. Cleary Gottlieb acted for the underwriters, Bear Stearns and Morgan Stanley, through partners Leslie Silverman and Sung Kang.

Simpson Thacher & Bartlett and Cahill Gordon & Reindel are working on the planned IPO of Warner Music Group. The company, which was bought from Time Warner by a...