Latham & Watkins and Simpson Thacher & Bartlett have taken lead roles on the $315m (£195m) sale of online news aggregator The Huffington Post to global media giant AOL, reports The Am Law Daily.
AOL will pay $300m (£186m) in cash, while the remainder of the payment will come in the form of stock. The acquisition, which is expected to close early in the second quarter of 2011 at the latest, creates a new media group that the companies expect will draw 270 million unique global visitors each month.
