If challenges to full credit bids from distressed lenders gain traction, we could see an even greater amount of balance sheet restructurings taking place out of court. We have already seen a dramatic downturn in the number of corporate filings around the nation, says Jay Sakalo of Bilzin Sumberg Baena Price & Axelrod LLP.
There is a record amount of capital chasing new real estate deals across the country. As such, many of our institutional clients have a greater appetite for risk and are willing to commit to deals earlier or at less traditional entry points, says Richard Giusto, co-chairman of Greenberg Traurig LLP's real estate practice.
Several high profile antitrust professors have come out in support of Comcast Corp.'s $45 billion proposed merger with Time Warner Cable Inc., telling the Federal Communications Commission in comments filed Monday that the two companies are not significant direct competitors for either cable services or broadband Internet.
Burger King's preemptive stance against claims that its proposed tie-up with Tim Hortons Inc. is an attempt to skirt U.S. taxes highlights how domestic companies considering foreign acquisitions must fight anti-inversion critics regardless of their business motives.
Glencore and Chinese metals producer Jinchuan Group Ltd. are reportedly at the front of the pack of potential buyers for BHP Billiton's Australian Nickel West division, which could be worth up to $16 billion, while Otter Products LLC is exploring a sale to interested private equity players that could potentially peg its value at more than $2.5 billion, including debt.
A handful of major transactions have kept deal makers busy in recent weeks despite the usual August lull, reinforcing the strong deal-making prospects that have propped up the market all year. As the clock ticks down to Labor Day, Law360 reviews five of the summer's biggest M&A plays.
Tyson Foods Inc. agreed Wednesday to sell off its Heinold Hog Markets sow-purchasing division, settling an antitrust suit filed the same day by the U.S. Department of Justice over Tyson’s $8.55 billion bid to acquire Hillshire Brands Co.
Beauty products company Elizabeth Arden Inc. said Wednesday that it is considering a tender offer from Rhône Capital LLC that would leave the private equity firm with a 20 percent stake in the company.
While the proposed Burger King and Tim Hortons tie-up is likely to have minimal effect on existing franchisee governance, some attorneys predict the deal will boost resources available to owners and give U.S.-side Burger King franchisees an opening to lobby for Tim Hortons-related development opportunities.
McGuireWoods LLP has snatched up a former Buchanan Ingersoll & Rooney PC attorney, whose practice is focused predominately on the oil and gas industry and mergers and acquistions, to be a partner in its Pittsburgh office, according to the firm.
Shareholders for South Korea’s Daum Communications Corp. and Kakao Corp. on Wednesday approved the 3.14 trillion won ($3.1 billion) all-stock merger of the two companies.
JLL Partners-backed DPx Holdings BV said Wednesday it will acquire Gallus BioPharmaceuticals from Ridgemont Equity Partners for an undisclosed amount in a deal that would make the combined company a leading provider of clinical- and commercial-grade bulk biologics products.
Shui On Land Ltd. is selling its interest in a Shanghai hotel and its majority stake in the owner of another nearby hotel to subsidiaries of Hong Kong-based real estate firm Great Eagle Holdings Ltd. for about 1.565 billion Chinese yuan ($255 million), the companies announced Wednesday.
A Delaware Chancery judge agreed Wednesday to fast-track a lawsuit by activist investor Bill Ackman and Valeant Pharmaceuticals International Inc. looking to compel a special shareholder meeting as part of their $53 billion hostile takeover campaign of Botox maker Allergan Inc., questioning whether the target actually wants to hold a meeting in December.
Gov. Andrew Cuomo on Wednesday ordered New York regulators to investigate an overnight Time Warner Cable Inc. foul-up that left 11 million customers without Web access as part of a state probe into whether Comcast Corp.'s $45 billion plan to buy its rival would hurt consumers and industry competitiveness.
Private equity-backed travel giant Sabre Corp., which is the parent of Travelocity.com LP, announced Wednesday that it is exploring the potential sale — as well as other strategic options — of its European business unit lastminute.com.
Middle-market private-equity shop J.F. Lehman & Co. said Wednesday that it would acquire military contractor Aeronautical & GI Holdings Ltd., parent of Aeronautical & General Instruments Ltd. and Hoffman Engineering Corp., for an undisclosed amount.
The acute awareness that there are fewer quality target companies on the market has created increased competition among strategic companies and private equity funds that have significant amounts of cash on hand and are eager to do deals, thereby driving up purchase prices, says Gary Goldenberg, chairman of Blank Rome LLP’s corporate, mergers and acquisitions, and securities practice.
Smaller institutions tend to be overregulated, whereas the larger and largest financial companies have become unmanageable. And that’s pretty scary, says Paul Ware of Bradley Arant Boult Cummings LLP.
Allergan Inc. said Tuesday it will hold a special meeting on Dec. 18 where shareholders can vote on a proposed board overhaul, part of a $53 billion takeover bid by Valeant Pharmaceuticals International Inc., and will seek an order blocking Valeant, investor Bill Ackman and Ackman's hedge fund from voting their shares.
Given the large number of calls that can be made electronically, damages for Telephone Consumer Protection Act violations can run into the millions. In this short video, Sutherland partner Lewis Wiener discusses the TCPA and how businesses that communicate with customers by phone or text may be impacted.
The Second Circuit was appropriately concerned with the implications of the Section 10(b) test set forth by the U.S. Supreme Court in Morrison v. National Australia Bank. But in ParkCentral Global Hub Ltd. v. Porsche Automobile Holdings, the court developed a test only used to deny the availability of Rule 10b-5, says J. Robert Brown Jr. of Sturm College of Law at the University of Denver.
The challenges facing investors in emerging markets can increase exponentially when host governments are interventionist and prioritize nationalistic policies over the development of resource wealth, as seen in some transactions in the oil and gas sector, say Kevin Atkins and Rahwa Gebretnsaie of Chadbourne & Parke LLP.
Contracts for providing and obtaining technology establish important, often long-term relationships. When they involve mission-critical products and services, the impact of a flawed contract can be devastating, says Craig Auge of Vorys Sater Seymour and Pease LLP.
Every business runs at least in part on technology — and, when contracting for technology products and services, the “gotchas” don’t discriminate based on size or industry. All parties can benefit from avoiding these situations, says Craig Auge of Vorys Sater Seymour and Pease LLP.
Windstream Holdings Inc.’s recent tax-free real estate investment trust spinoff highlights an intriguing option for U.S. corporations — particularly those in the technology, telecommunications or utility sector — as the IRS continues to expand the range of “real estate” assets that can be held by an REIT, say Thomas Humphreys and Matthew Lau of Morrison & Foerster LLP.
In this short video — the latest installment from the "Book of Jargon" — Latham & Watkins LLP partner Rafal Gawlowski defines "accelerated share repurchase."
The Federal Trade Commission has increasingly challenged conditional pricing practices, but without articulating a bright-line rule. Practitioners should always consider whether the economic realities of a client’s industry lends itself to one analysis over the other, say attorneys with Ballard Spahr LLP.
The rhetoric used by shareholder activists on all sides should be taken with a large pinch of salt — most issues described as momentous generally are not — and these symbolic battles may divert attention from more meaningful reform, say professors at the New York University School of Law and the University of Pennsylvania Law School.
"If you follow the philosophy of saving everything you're just multiplying exponentially the costs and risks of litigation and investigations," says Robert Owen, partner in charge of Sutherland Asbill & Brennan LLP's New York office and president of the Electronic Discovery Institute.