Physician staffing supplier Team Health Holdings Inc. said Tuesday it will buy post-acute care specialist IPC Healthcare Inc. for about $1.6 billion cash, saying the deal will create a leading physician services organization with a wider array of specialties.
Chinese travel website eLong Inc. said Tuesday that it has received a proposal from Internet conglomerate Tencent Holdings Ltd., which is being advised by Paul Weiss Rifkind Wharton & Garrison LLP, to take the U.S.-listed company private by buying up the eLong shares it doesn't already own.
Irish drugmaker Shire PLC said Tuesday that it has made an unsolicited stock bid valued around $30 billion to acquire U.S. biotech Baxalta Inc., aiming for a tie-up that would create a biotech giant focused on treatments for rare diseases.
Audi AG, the BMW Group and Daimler AG are teaming up to buy Nokia Corp.’s digital mapping business in a €2.8 billion ($3.1 billion) bet on self-driving cars and other upcoming automotive technologies, the German car makers said Monday.
HSBC Holdings PLC said Monday it has agreed to sell its Brazilian banking business to Banco Bradesco SA for $5.2 billion in cash, part of a larger restructuring plan to sell certain assets and shift investment toward growth opportunities in Asia.
Hoping to thwart a hostile takeover, Depomed Inc. on Monday hit Horizon Pharma PLC with a lawsuit in California court alleging misuse of confidential data, while Horizon said that it simultaneously sued over Depomed’s recent poison pill and would seek to oust the company’s board members.
Petco Animal Supplies Inc. has hired Goldman Sachs to look into a sale or initial public offering for the company, while German chemicals company BASF SE lines up a loan package from banks in anticipation of making a takeover offer for Syngenta AG, as U.S. activist investor Third Point LLC picks up a stake in Japanese auto maker Suzuki Motor Corp.
There have been no summer doldrums this year in the world of mergers and acquisitions, as five law firms advised on more than $70 billion worth of deals in July, with one firm leading the pack thanks to its work on 10 transactions worth a total of $100.3 billion.
Representatives from CBS Corp., The Walt Disney Co. and other media groups voiced their objections to the potential disclosure of competitive information in the review of the proposed $55 billion Charter Communications-Time Warner Cable merger, according to a Friday Federal Communications Commission filing.
NextEra Energy Partners LP was led by Locke Lord LLP through its $2.1 billion purchase of NET Midstream LLC, a privately owned developer with seven natural gas pipelines in Texas under long-term contracts, the firm said on Monday.
Investment bank Houlihan Lokey Inc., which advises on mergers and acquisitions, capital markets and financial restructurings, set terms in a filing on Monday for an initial public offering that could raise $313.4 million, hoping the hot deals market driving its business generates a strong IPO.
Alpha Natural Resources on Monday became the latest coal producer to file for bankruptcy, less than five years after its $8.5 billion purchase of Massey Energy Co., whose former leader is now facing criminal charges over safety violations that federal prosecutors say caused a 29-death explosion.
After months of resisting, PartnerRe Ltd. agreed Monday to be bought by Exor SpA, the European investment firm controlled by Italy’s Agnelli family, for $6.9 billion, abandoning its previously announced plans to merge with fellow reinsurer Axis Capital Holdings Ltd.
With so much mergers and acquisitions news this week, you may have missed several of the deals announced in recent days. Here, Law360 lets you know about those deals involving major law firms Latham & Watkins LLP, Kirkland & Ellis LLP, Debevoise & Plimpton LLP and others.
In this week’s Taxation With Representation, Sullivan & Cromwell guides Teva’s $40.5 billion deal for Allergan's generic-drug business while McGraw Hill Financial taps Wachtell for its $2.2 billion acquisition of private equity-owned data and information provider SNL Financial.
A New York bankruptcy judge indicated Friday that he was not on board with Relativity Media LLC's plan to sell off its film and television production businesses in just two months, but approved $9.5 million in stopgap funding to keep the company going.
General Electric Corp., AB Electrolux Inc. and the government cast doubt on reaching a settlement in the Justice Department’s antitrust suit over the companies’ $3.3 billion tie-up on Friday, as a D.C. federal judge delayed the upcoming trial.
Uber has just closed a new funding round that values it at a whopping $51 billion, private equity giant The Carlyle Group has parted ways with the founders of its Vermillion commodity hedge fund, and three bottlers of Coca-Cola products in Europe have entered advanced talks on a merger.
Venture capital- and emerging companies-focused law firm Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP said Thursday it has recruited two former DLA Piper partners experienced in advising life science and technology companies in securities offerings, mergers and acquisitions and other corporate matters to bolster California offices.
A Cigna Corp. shareholder filed a proposed class action on Friday, asking the Delaware Chancery Court to block the Connecticut company's $54 billion acquisition by fellow health insurance giant Anthem Inc., alleging that the deal constitutes a breach of fiduciary duty by Cigna directors.
The boost in valuations provided by private IPOs has been a boon to founders, employees and early-round investors. But even when a tech company target is not yet a unicorn, late-stage investors are often surprised to learn that the Hart-Scott-Rodino Act can require both the investor and the company to make filings to report the acquisition of a minority shareholding, say J. Todd Hahn and Andrea Agathoklis Murino of Goodwin Procter LLP.
The market flex provisions of a fee letter permit the arranger to modify the financing contemplated by the commitment letter in various ways to have a successful syndication. These provisions are often heavily negotiated and will be influenced by factors such as the borrower's industry, the nature of the underlying transaction and the strength of the syndicated loan market, say Andrew Bettwy and Glen Lim of Proskauer Rose LLP.
The Private Securities Litigation Reform Act’s safe harbor was designed to facilitate dismissal of challenges to forward-looking statements at the pleadings stage, before any discovery. But as the D.C. Circuit recently proved, even on a motion to dismiss, courts will take a hard look at the cautionary language. That means eschew boilerplate, say Bruce Ericson and Stacie Kinser of Pillsbury Winthrop Shaw Pittman LLP.
In the world of commercial real estate it’s often not the salesmen, brokers or business people that close the deal — it's the lawyers. But Closing 101 is not a course taught in law school. Attorneys at Shearman & Sterling LLP lay out essential closing techniques every real estate acquisitions lawyer should know.
Trial lawyers should approach direct examination with the same excitement as cross-examination. If you do not, the jury will notice and your case will suffer. An effective direct examination backs the lawyer out of the action and puts the witness front and center to tell the story in a conversational, comforting, interesting fashion, says James Murray of Dickstein Shapiro LLP.
In the last few years, unitranche financing has been heralded as the new trend in European corporate financing and as an alternative to traditional bank financing. But, when analyzed, does unitranche financing in the European and German markets live up to expectations? ask Dr. Jens Linde and Michael Schuhmacher of P&P Pollath & Partners.
One of the key practice points arising out of recent decisions in Merlin v. Autoinfo, Owen v. Cannon, and Longpath v. Ramtron is that an acquiror should outline in some detail the cost savings expected from a merger. References to anticipated savings embedded in assumptions for projections or in an investment memorandum may not be sufficient, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
The Delaware Chancery Court now primarily or exclusively relies on the merger price to determine fair value when the merger price is a particularly reliable indication of value and the standard financial valuation analyses — discounted cash flow and comparables — are particularly unreliable. All of the recent cases meeting these parameters have involved disinterested transactions, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
The International Institute for Conflict Prevention & Resolution's screened selection process for party-appointed arbitrators is a simple compromise between the positions of those who believe the existing system of party appointments should remain unchanged and those who would overhaul the system, say Charles Rosenberg of White & Case LLP and Olivier Andre of the International Institute for Conflict Prevention & Resolution.
In a break with past practice, several times in recent months, the Delaware Chancery Court has relied primarily or exclusively on the merger price to determine fair value in appraisal cases. However, we note that the court’s reliance on merger price is still limited, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.