Mergers & Acquisitions RSS

  • April 23, 2014

    K&L Gates Adds Ex-Yahoo GC To M&A Group In Calif., Taiwan

    Former Yahoo Inc. general counsel Jim Wu has returned to K&L Gates LLP as a partner in its corporate mergers and acquisitions practice in Taipei and Palo Alto, Calif., focusing on private equity and technology-related enterprises in the Asia-Pacific region, the firm announced Monday.

  • April 23, 2014

    Ryanair Can Appeal Order In Bid To Keep Aer Lingus Stake

    A U.K. competition court on Wednesday allowed Ryanair Holdings PLC to appeal an order requiring the airline sell off most of its nearly 30 percent stake in rival Aer Lingus Group PLC, finding that an appeals court should consider whether the divestiture could conflict with future decisions by European Union antitrust regulators.

  • April 23, 2014

    Rising Star: Weil Gotshal's Matthew Gilroy

    Already an established mergers and acquisitions attorney at Weil Gotshal & Manges LLP, Matthew Gilroy has advised on billions of dollars in deals, including helping tailor a successful strategy to sell ATMI Inc. for almost $1.4 billion from two separate buyers, landing him on the list of Law360’s top M&A attorneys under age 40.

  • April 23, 2014

    Sumitomo Bakelite Drops $265M For HIG Capital's Vaupell

    Sumitomo Bakelite Co. Ltd. is set to buy Vaupell Holdings Inc. from private equity firm HIG Capital LLC for $265 million, the companies announced Wednesday, in a deal designed to bolster Sumitomo's product offerings in the aerospace, defense, medical and commercial industries.

  • April 23, 2014

    Heckmann Reaches $27M Settlement For Shareholder Suit

    Attorneys for a class of shareholders suing a company known until recently as Heckmann Corp. — which provides fluids and environmental services to the energy industry — over its $505 million acquisition of China Water and Drinks Inc. told potential class members Wednesday that they have reached a $27 million settlement.

  • April 23, 2014

    Chancery's Appetite For Fee Awards Wanes As Deal Suits Rise

    The Delaware Chancery Court is scaling down fee awards tied to settlements that unearth new disclosures but don't significantly change the landscape of a given deal, a sign that the premier U.S. business court is reining in plaintiffs' attorneys looking for an easy payout.

  • April 23, 2014

    LIN Shareholder Sues Over $1.6B Media General Merger

    A LIN Media LLC shareholder has filed a class action in Delaware Chancery Court against the TV company's board and Media General Inc., which agreed to acquire LIN for $1.6 billion.

  • April 23, 2014

    FTC Greenlights $2B Facebook, Oculus Deal

    The Federal Trade Commission granted early termination to the required waiting period for Facebook Inc.’s $2 billion acquisition of Oculus Rift VR, the company developing a virtual reality headset, according to a brief notice Wednesday.

  • April 23, 2014

    Deals Rumor Mill: Charter, Eni, Carlo Tassara

    Charter Communications is closer to inking a deal to snag 1.5 million subscribers from Comcast as the cable giant looks to appease competition regulators before they review its $45.2 billion acquisition of Time Warner Cable, while Hungary’s MOL Group has snapped up more than 100 Czech gas stations from Italy’s Eni.

  • April 23, 2014

    Congressman Urges FTC To Take Action On Health M&A

    Rep. Jim McDermott, D-Wash., has asked the Federal Trade Commission to issue better guidance on potential antitrust issues raised by Affordable Care Act-inspired health care mergers, after a federal court agreed with the agency that hospital operator St. Luke's Health System Ltd. must divest itself of a recently acquired physician practice.

  • April 23, 2014

    RBC Asks Judge To Divvy Blame For Botched Rural/Metro Sale

    RBC Capital Markets LLC on Monday told a Delaware judge that since it was only partially responsible for guiding ambulance and fire-protection provider Rural/Metro Corp. into a hasty sale to New York investment house Warburg Pincus LLC for a lowballed $438 million, it should not be held liable for all of the damages in the case.

  • April 23, 2014

    Gibson Dunn, Simmons Rep Fajr Capital On $500M NPS Buy

    A consortium of investors led by Fajr Capital Ltd. has purchased National Petroleum Services for more than $500 million, the two sides said Wednesday, in a deal Fajr said marks the "largest private equity transaction in the MENA region" this year.

  • April 23, 2014

    EU Opens Probe Of Cemex-Holcim Merger In Spain

    The European Union's antitrust arm said Wednesday that it has launched an in-depth investigation into whether Mexico-based Cemex SAB de CV's planned acquisition of its Swiss rival Holcim Ltd.'s cement operations in Spain is in line with EU merger guidelines.

  • April 23, 2014

    $35B Omnicom-Publicis Merger Faces Tax, Antitrust Hurdles

    Omnicom Group Inc. is having trouble lining up the conditions to close its proposed $35.1 billion merger with Publicis Groupe SA, including securing a tax residency in the U.K. and approval from Chinese antitrust regulators, Omnicom's CEO said Tuesday.

  • April 23, 2014

    Kirkland Taps Simpson M&A Partner For New Houston Office

    Kirkland & Ellis LLP said Tuesday it's picked up a former Simpson Thacher & Bartlett LLP mergers and acquisitions partner, known for guiding energy-focused deals for clients like Blackstone Energy Partners and Petrohawk Energy Corp., to strengthen its corporate practice at its new Houston office.

  • April 23, 2014

    Australand Snubs Rival Stockland’s $1.8B Takeover Bid

    Australand Property Group spurned a roughly A$1.95 billion ($1.8 billion) takeover bid from rival Stockland Group on Wednesday, saying that the unsolicited offer from Stockland dramatically undervalues the real estate development and management group.

  • April 23, 2014

    Hess Reaps $1B From Thai Gas Project Sale

    Hess Corp. said Monday that it's unloading its stake in two gas projects in Thailand to Thai oil and gas development giant PTT Exploration and Production PLC for about $1 billion in cash, continuing its recent selling spree.

  • April 23, 2014

    Shareholder Alecta Rejects Volkswagen's $9B Bid For Scania

    Swedish pension fund Alecta, a shareholder of truck manufacturer Scania AB, came out Wednesday against the buyout of minority shares by Volkswagen AG for €6.6 billion ($9.1 billion), joining other skeptical institutional shareholders.

  • April 23, 2014

    Allergan Swallows Poison Pill After $46B Valeant-Ackman Bid

    Botox maker Allergan Inc. adopted a poison pill late Tuesday to insulate itself from hostile takeover plays, a move that came the same day it confirmed an unsolicited offer worth nearly $46 billion from Valeant Pharmaceuticals International Inc. and famed activist Bill Ackman.

  • April 22, 2014

    Bankrupt Revstone Seeks Approval Of $14M Subsidiary Sale

    Bankrupt auto parts conglomerate Revstone Industries LLC urged a Delaware bankruptcy judge on Monday to approve the more than $14 million sale of Revstone Wallaceburg Canada Inc., a subsidiary that owns more than 25 million shares of diecast tooling manufacturer Aarkel Tool & Die Inc.

Expert Analysis

  • Reps And Warranties Insurance Rises In Health Care Deals

    Geoffrey C. Cockrell

    In the health care sector, many companies operate in gray areas of the law, where formal governmental guidance is not always available and industry practices tend to gravitate toward more aggressive interpretations. Insurance that provides coverage for losses arising from unintentional and unknown breaches of representations and warranties made in an acquisition or merger agreement can be a bridge across any concerns, say attorneys with McGuireWoods LLP.

  • Mandatory Pro Bono Is Not The Answer For Practitioners

     Amanda D. Smith

    The State Bar of California has decided to follow New York's lead and require prospective attorneys to record 50 hours of pro bono service in order to be eligible for admission. While we applaud the intentions behind these initiatives, there are a number of reasons why state bars should limit any mandatory pro bono requirement to this context, rather than extend it to licensed attorneys as some have suggested, say attorneys with the Association of Pro Bono Counsel.

  • Plaintiff Firms Continue Targeting Annual Meeting Proxies

    Gerard G. Pecht

    In what has become an annual rite of springtime, shareholder plaintiff lawyers are once again targeting Schedule 14A annual meeting proxy statements that include proposals on executive compensation, requirements for tax deductibility of performance-based compensation, and other issues requiring shareholder action. Fortunately for issuers, these types of claims usually fare poorly when plaintiffs are forced to defend them in court, say Gerard Pecht and Peter Stokes of Norton Rose Fulbright LLP.

  • Keeping Investment Funds Out Of Litigation Purgatory

    Casey McTigue

    Most seasoned investment fund managers know it’s only a matter of time before they get dragged into litigation over something. While much of that risk relates to sales of their portfolio companies, post-closing merger and acquisition litigation is easy to avoid, says Casey McTigue of SRS|Acquiom LLC.

  • Cross-Border Complexities: Keep The C-Suite Out Of Prison

    Shari L. Pire

    The potential for significant gains makes high-growth markets, such as Russia, Brazil and India, particularly enticing. But at what cost? Business practices that are both acceptable and customary in other countries may violate U.S. and other anti-bribery and corruption laws. However, there are ways to insulate the corporation from liability, says Shari Pire of Willkie Farr & Gallagher LLP.

  • How To Incentivize Management Across The Pond

    James Ross

    As the buyout market in the United Kingdom heats up, having a good understanding of the nuances of the tax regime and keeping on top of developments in market practice are key to ensuring U.S. private equity investors appear attractive in competitive processes. Remember, any sophisticated adviser will warn management against accepting U.S.-style stock options, and the U.K. market has developed a number of more tax-efficient incentives, which must be considered, say James Ross and Eleanor West of McDermott Will & Emery UK LLP.

  • Activist Investors — Brace Yourselves For 13D Changes

    Perrie Michael Weiner

    The U.S. Securities and Exchange Commission is turning more aggressive attention toward shareholder activists, and the issue of revising the Schedule 13D timetable is alive once again, largely due both to a recent media report and its confluence with another event — the news that such a measure has the support of perhaps the preeminent juridical voice in American corporate law, Delaware Supreme Court Chief Justice Leo E. Strine Jr., say Perrie Michael Weiner and Patrick Hunnius of DLA Piper.

  • The Future Of Law Firm PR: The Good, Bad And Ugly

    Paul Webb

    There has been a dramatic change in how public relations professionals interact with the news media to promote or protect a law firm’s brand and reputation. But content is queen and has a bright future in law firm PR — it all begins with a plan that should include goals, performance indicators and a system of assessment, say Paul Webb, director of marketing at Young Conaway Stargatt & Taylor LLP, and Kathy O'Brien, senior vice president at Jaffe PR.

  • FTC Continues To Target Pharmaceutical Mergers

    Bruce Sokler

    The Akorn Inc.-Hi-Tech Pharmacal Co. Inc. acquisition shows that the Federal Trade Commission is unlikely to ease up soon on what has essentially become a bright-line rule in antitrust policy — transactions resulting in three to two and sometimes even four to three reductions in the number of competitors, where there would be no timely entry, face difficult regulatory hurdles, say Bruce Sokler and Helen Kim of Mintz Levin Cohn Ferris Glovsky and Popeo PC.

  • Fog May Be Lifting Around Finders

    Kenneth G.M. Mason

    The regulatory world of when and whether a U.S. person can raise capital and receive transaction-based compensation without registering as a broker-dealer has been murky. But the U.S. Securities and Exchange Commission’s aggressive stance on when finders have to register as broker-dealers has recently encountered judicial disavowal by courts, which has helped clarify certain compensation issues, say Kenneth Mason and Sharon Obialo of Kaye Scholer LLP.