Mergers & Acquisitions

  • July 31, 2014

    AbbVie Investor Says Brass Exposed Co. To Off-Label Claims

    An AbbVie Inc. shareholder launched a derivative suit Thursday in Delaware Chancery Court accusing the biopharmaceutical company’s brass of saddling it with the risk of liability connected to whistleblower accusations of physician kickbacks and off-label drug marketing directed at former parent Abbott Laboratories before a spinoff.

  • July 31, 2014

    Don't Miss It: Hot Deals & Firms We're Following This Week

    With one of busiest weeks in M&A news so far this year, you may not have seen some announced deals involving Jones Day, Wachtell Lipton, Willkie Farr, Baker Botts and other firms. Here, Law360 takes a look at the ones you may have missed.

  • July 31, 2014

    Hometown Firm Big Winner As GTCR Invests New $3.85B Fund

    Chicago-based private equity stalwart GTCR LLC has wasted no time putting money from its 11th buyout fund to work after reaching a $3.85 billion close in January, and one firm stands out as a favorite choice in the firm's recent slew of deals.

  • July 31, 2014

    MacAndrews Pushes To Have Renco's JV Claims Tossed

    MacAndrews & Forbes Holdings Inc. tried to convince the Delaware Chancery Court on Thursday to toss several claims lodged by Renco Group Inc., its partner in a venture to produce Humvee military vehicles, that accuse the Ron Perelman-owned company’s subsidiaries of diverting roughly $250 million for themselves.

  • July 31, 2014

    Volksbank Ditches More Assets Under EU Scrutiny

    Austria's Volksbank AG continues to shed assets under pressure from European regulators to boost capital and limit risks with its second big sale this week on Thursday — a spinoff of part of its private equity portfolio for €100 million ($147 million).

  • July 31, 2014

    Deals Rumor Mill: Harvard Drug, Canaan, Alibaba

    Court Square Capital Partners might rake in as much as $1 billion in the auction of its generic-drug distributor Harvard Drug Group, while Canaan Partners has kicked off its 10th venture fund with plans to make seed and early-stage tech and health care investments.

  • July 31, 2014

    CCMP To Pay $890M For Belgian Chemical Co.'s US Biz Unit

    Belgian chemical company Solvay SA has agreed to sell its U.S. sulfuric acid production business to private equity firm CCMP Capital Advisors LLC in a $890 million deal that allows Solvay to refocus on its core businesses.

  • July 31, 2014

    Swedish Drug Co. Meda Pays $3.1B For Rottapharm

    Swedish drugmaker Meda AB agreed Thursday to acquire Rottapharm for $3.1 billion, a cash-and-stock deal Meda hopes will create a European pharmaceutical leader offering a strong balance of prescription and consumer brands, plus further growth prospects in emerging markets.

  • July 31, 2014

    Blackstone Funnels Up To $800M Into Asian Energy Venture

    The Blackstone Group LP’s energy private equity arm is investing up to $800 million in Malaysian startup Tamarind Energy to pursue oil and gas development opportunities in Southeast Asia in partnership with the region's host governments and national oil companies, the company said Wednesday.

  • July 31, 2014

    France's Iliad Makes $15B Cash Bid For T-Mobile

    Iliad SA has offered to pay $15 billion cash for roughly half of T-Mobile US Inc., challenging a potential $32 billion tie-up between the country’s fourth largest mobile carrier and No. 3 rival Sprint Corp., the French telecommunications company said Thursday, confirming media speculation over a counterbid.

  • July 31, 2014

    Shaw Communications To Pay $1.2B For ViaWest Data Centers

    Canadian telecommunications and media company Shaw Communications Inc. said Thursday it is acquiring private equity-backed U.S. data center infrastructure and cloud technology company ViaWest Inc. for $1.2 billion from Oak Hill Capital Partners and other shareholders.

  • July 31, 2014

    Apache Exits 2 LNG Projects Amid Activist Pressure

    Texas oil and gas company Apache Corp. announced Thursday that it will pull out of two massive liquefied natural gas projects in Australia and Canada as the company refocuses on growing its North American operations on the heels of pressure from activist investor Jana Partners LLC.

  • July 31, 2014

    REIT Throws Down $1.32B For Portfolio Of Home Communities

    Real estate investment trust Sun Communities Inc. has agreed to pay about $1.32 billion including debt for a portfolio featuring 59 manufactured home communities from private equity real estate investment firm Green Courte Partners LLC, the companies said Wednesday.

  • July 31, 2014

    Balfour Beatty Quits Merger Talks With Carillion

    London-based infrastructure company Balfour Beatty has terminated talks with British construction giant Carillion PLC, just a week after the two sides disclosed that they were discussing a potential merger, Balfour Beatty said Thursday.

  • July 31, 2014

    Dealmakers Q&A: Mayer Brown’s Jen Carlson

    I’ve seen too many lawyers get themselves — and sometimes a deal — in trouble because they are too proud or embarrassed to admit that they need help, says Jen Carlson of Mayer Brown LLP.

  • July 31, 2014

    Dealmakers Q&A: Seward & Kissel's Craig Sklar

    When issues arise in a deal, don’t stand on ceremony, cite precedent or say, “this is how it is always done,” but instead try to offer creative solutions, says Craig Sklar of Seward & Kissel LLP.

  • July 31, 2014

    Tyson Aims To Raise $2.3B To Back $8.55B Hillshire Buy

    Tyson Foods Inc. plans to raise $2.3 billion in a share sale and equity offering, according to a regulatory filing Thursday, marking the meat-processing giant’s latest move to boost its capital in preparation of its $8.55 billion purchase of rival Hillshire Brands Co.

  • July 30, 2014

    Chesapeake To Buy Back $1.2B In Stock, Swap Wyo. Assets

    Chesapeake Energy Corp. said Tuesday that it’s agreed to pay $450 million to RKI Exploration & Production LLC as part of a land swap in Wyoming’s Powder River Basin as well as spend $1.26 billion to buy back shares of its Utica Shale subsidiary.

  • July 30, 2014

    $1.75M Exec Bonus Plan OK'd In Bankrupt Revel Casino Sale

    A New Jersey bankruptcy judge on Wednesday approved a plan that would give Revel AC Inc., owner of Atlantic City’s beleaguered Revel Casino Hotel, permission to dole out $1.75 million in executive bonuses in connection with the hotel's sale.

  • July 30, 2014

    French Regulators Challenge $23B Altice, SFR Deal

    French antitrust regulators announced Wednesday that they have opened an investigation into Altice Group's planned $23.3 billion acquisition of telecom unit SFR from Vivendi Group — one of several recent mega-deals consolidating the global media landscape — to examine whether the merger will stifle competition.

Expert Analysis

  • OPINION: Lawyers Should Think In Terms Of Big Data

    James H. Wendell

    The vast majority of civil cases in the United States settle before trial. Knowing how many on a particular topic were filed, how many settled, when they settled, and on what terms clearly would be useful to a lawyer advising a client. Big Data could make it possible — yet this type of research is generally ignored by lawyers, says James Wendell of Riddell Williams PS.

  • Different Health Care M&A Get Same Rigorous FTC Scrutiny

    Michael W. King

    When considering health care M&A deals, note that the Federal Trade Commission has not ruled out challenging vertical health care mergers despite its indication that horizontal mergers pose a greater anti-competitive risk, say attorneys at Brownstein Hyatt Farber Schreck LLP.

  • EU Fires Warning Shot Against Gun-Jumping In M&A

    Sebastian Jungermann

    The European Commission recently imposed a $26.9 million file on Marine Harvest ASA for acquiring its rival Morpol ASA without receiving prior authorization under the EU Merger Regulation, once again highlighting the EC’s determined efforts to significantly fine companies that do not comply with the standstill obligation of the EU competition merger rules, say Sebastian Jungermann and Jens Steger of Kaye Scholer LLP.

  • Death Rattle For Unfinished Business Claims?

    Angelo G. Savino

    In a departure from Jewel v. Boxer, the decisions in the cases of Thelen LLP and Heller Ehrman LLP reflect a shift in the manner by which courts treat trustees’ claims for post-dissolution fees, say Angelo Savino and Julie Moeller Albright of Cozen O'Connor.

  • How Cos. Can Prepare For Shareholder Activism

    Excerpt from Lexis Practice Advisor
    Robert C. Schwenkel

    It is critical that programs be in place to monitor activity in a company's stock and options and reveal at the earliest possible time a possible "secret" market accumulation or general buying by activists, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Don't Get Carried Away By The Inversion Craze

    Bernie J. Pistillo

    Given commercial realities and the possibility that the intended tax savings could be limited or eliminated by the effect of retroactive or even prospective legislation, a potential inversion transaction should only be pursued if the nontax reasons for the combination are sufficiently compelling, say attorneys with Morrison & Foerster LLP.

  • DOD Annual Report May Affect Antitrust Reviews

    Jon Dubrow

    A recent U.S. Department of Defense study provides data the DOD interprets as showing that the presence of competition improves contracting outcomes for the government, and it has implications for future antitrust analysis applied to mergers, acquisitions and teaming agreements, says Jon Dubrow of McDermott Will & Emery LLP.

  • Litigator’s Perspective: 5 Tips On Arbitration Provisions

    Daniel T. McCloskey

    It happens all the time. When a dispute arises, two parties find themselves in arbitration, realizing that they might have had more leverage to dictate the terms of the process when they were negotiating the arbitration provision — but missed the opportunity, says Daniel McCloskey of Duane Morris LLP.

  • Amid M&A Uptick, Bidders Must Heed UK Code Changes

    Ilan Kotkis

    Potential bids by U.S. suitors for U.K. target companies in the pharmaceutical and health care sectors seem to be a recurring theme this year

  • Fla. Sets Strict Standard For Direct Shareholder Claims

    Jeffrey W. Gutchess

    In Dinuro Investments v. Camacho, a Florida court clarified the limited circumstances under which a corporate shareholder or limited liability company member has standing to bring a direct claim for damages relating to the company — an issue that has become more and more unsettled, say Jeff Gutchess and Justin Brenner of Bilzin Sumberg Baena Price & Axelrod LLP.