The U.S. Tax Court ruled Thursday that a taxpayer who received over $3 million when his company merged with Google Inc. cannot report all of that money as lower-taxed capital gain income because some of it was deferred compensation and counts as ordinary income.
French hotel conglomerate Accor SA announced Thursday that it will inject €225 million ($283.6 million) into a plan to bolster its digital services over the next four years by improving customer access to online services and snapping up travel app Wipolo.
Wachtell Lipton Rosen & Katz filed a motion Thursday urging a New York federal judge to dismiss a Carl Icahn-backed merger malpractice lawsuit on grounds that a state court was considering a “virtually indistinguishable” suit, three weeks after the judge ordered briefing on the issue.
Japanese telecom giant SoftBank may offer as much as $10 billion for the wireless assets of Mexico's America Movil, while Arle Capital Partners is thinking about selling Spanish theme park operator Parques Reunidos for upwards of $2.6 billion.
Media General Inc. must divest several TV stations around the country in order to complete its $1.6 billion acquisition of LIN Media LLC, the Department of Justice announced on Thursday.
U.K. restaurant operator Prezzo PLC on Thursday extended the deadline for the takeover bids that private equity firms Advent International PLC and TPG Capital LP had preliminarily launched for Prezzo in early October to allow the parties to further prep and talk out the offers.
Rhythm Pharmaceuticals Inc. on Wednesday pulled its planned $86 million initial public offering after the company reached a deal last week with Actavis PLC for an exclusive option to purchase one of its gastrointestinal drug subsidiaries.
The Federal Trade Commission on Thursday opened up for public comment an application from fluid-handling systems maker Graco Inc. to sell off its liquid finishing business assets for $590 million in cash to Carlisle Companies to assuage competition concerns expressed by the agency.
A Pennsylvania federal judge declined Wednesday to block the sale of a Nissan North America LLC dealership at the center of an antitrust lawsuit, ruling that the rebuffed would-be buyer had not proven the necessity of an injunction in his suit alleging price-fixing.
Spanish road operator Abertis Infraestructuras told regulators Thursday that it wants to spin off its telecommunications business and list it on the Madrid Stock Exchange, believing that the unit is not returning its full potential value to shareholders.
Activist investor Cartica Management LLC on Wednesday sent its shareholder challenge to CorpBanca SA and Itau Unibanco Holding SA's proposed $3.7 billion merger to the Second Circuit, appealing the suit’s September dismissal in a ruling that found only purchasers or sellers can attempt such injunctions.
Widely available capital and a generally bright U.S. economy have executives excited about deal-making prospects in the coming year, when they predict privately owned companies will dominate the mergers and acquisitions marketplace, according to a Dykema Gossett survey published on Thursday.
Spirit Pub Co. PLC on Thursday agreed to give British brewery and pub operator Greene King PLC more time to firm up a buyout bid after after the prospective buyer earlier this month lobbed a £723 million ($1.16 billion) offer.
In an effort to bolster its solar capabilities, SunEdison Inc. subsidiary TerraForm Power Inc. has agreed to buy a portfolio of solar energy assets from Swiss asset manager Capital Dynamics for about $250 million, the companies said late Wednesday evening.
Bolder strategies and record inflows of investor dollars to the strategy have helped shareholder activists tighten their grip on the U.S. marketplace, and FactSet data published this week show a trio of law firms have done an especially good job of cashing in on the trend.
A Delaware Chancery Court judge on Wednesday rejected a $3.1 million fee request from law firms representing TPC Group Inc. investors who challenged an announced buyout of the petrochemical product maker, finding the shareholder class action did not lead to an eventual $79 million price bump.
With so much M&A news this week, you may not have seen some announced deals involving several law firms such as Ropes & Gray, Debevoise, Schulte Roth and others. Here, Law360 takes a look at the ones you might have missed.
A Delaware bankruptcy judge on Wednesday blessed cooperative food distributor Associated Wholesalers Inc.'s $288.1 million sale to stalking horse C&S Wholesale Grocers Inc., which outlasted industry rival SuperValu Inc. at an auction last week.
Irish cider maker C&C Group Plc on Wednesday suggested that it may still be in the running to buy out Spirit Pub Co. Plc, even after the pub operator rejected C&C's buyout offer last week, as the alcohol producer looks to boost its declining profits.
BG Group PLC is nearing the finalization of a $4 billion deal to sell 335 miles of gas pipelines, while German utility E.On wants suitors to submit binding bids of up to $2.8 billion for its Spanish unit by Nov. 3.
Not every private equity investment is a home run. However, there are a variety of methods that can be employed to exit some of these investments gracefully and, in the process, perhaps stretch a single to a double, say Kenneth Koch and Stephen Gulotta Jr. of Mintz Levin Cohn Ferris Glovsky and Popeo PC.
The California legal market is experiencing a disruptive transformation as in-house counsel look for ways to trim their budgets by disaggregating services. Business growth in certain sectors of the state's economy has spurred the development of new ways to manage escalating legal costs — for example a new service delivery model that “right-sources” work, says Michael Pontrelli of Huron Legal.
The somewhat problematic issue in a bankruptcy sale is determining what rights or obligations, if any, do the parties have under the agreement between the date of execution and the date the court enters an order approving the sale. This is precisely the issue the parties encountered in the Chapter 11 case of Hot Dog on a Stick, says Jeffrey Krieger of Greenberg Glusker Fields Claman & Machtinger LLP.
As conscientious professionals who are required to address problems with notoriously elusive dimensions, lawyers should consider securing second opinions in a much wider array of circumstances than has been the norm, says Judge Wayne Brazil, a neutrual with JAMS and former magistrate judge in the U.S. District Court for the Northern District of California.
Margrethe Vestager inherits the European Commission's competition portfolio from outgoing Spanish Commissioner Joaquin Almunia, whose tenure, while marked with enforcement victories, will leave a bitter pill in the mouths of a number of companies — and their lawyers, say attorneys with Shearman & Sterling LLP.
No consensus has formed regarding which metrics are best to compare, manage and communicate about mission-critical patent programs. We tested a variety of metrics and selected a new system derived entirely from publicly available raw data for all publicly traded companies, even though the raw IP data may be esoteric, awkward and unappreciated generally by management and investors, says Stephen Glazier of Akerman LLP.
All of the press declaring the “Double Irish Dutch Sandwich” structure a thing of the past as a result of recent Irish finance proposals seems to be a bit overstated. The only thing that has truly changed is the scope of permissible jurisdictions to which management and control may be moved to achieve the desired tax benefits, say Jeffrey Rubinger and Summer Ayers LePree of Bilzin Sumberg Baena Price & Axelrod LLP.
Courts remain largely skeptical about allowing litigants to serve and notify evasive parties of legal proceedings through their social media accounts. A recent split ruling by the Oklahoma Supreme Court shows the competing considerations, say Steven Richard and Britt Killian of Nixon Peabody LLP.
The dispute between Donald and Shelly Sterling — resolution of which determined the control of the trust that owned the Los Angeles Clippers and whether it could be sold for a reported $2 billion — highlights the steps required for trustee removal, and raised other interesting issues as to the relevant degree of capacity required for certain actions and the time at which the measure of capacity was taken, say Shari Levitan and Stac... (continued)
Let’s face it: Taking friends or acquaintances to Justin Timberlake concerts or golf at the Ocean Course is not how we as law firm associates are going to develop business. Our primary value comes not from out-of-office networking jaunts but from bearing a laboring oar for our partners. Which is why our best approach to business development is more likely from the inside out, says Jason Idilbi of Moore & Van Allen PLLC.