Mergers & Acquisitions

  • February 12, 2016

    Orloff Lowenbach Stays Clear Of NJ Malpractice Claim

    The New Jersey Appellate Division refused to revive a malpractice lawsuit accusing Orloff Lowenbach Stifelman & Siegel PA of failing to negotiate a sufficient settlement for a client who sued his former employer, ruling Friday that the client’s expert opinions didn't raise issues requiring trial.

  • February 12, 2016

    Waning CEO Confidence Another Drag On M&A Market

    Confidence among chief executive officers is falling as uncertainty about the global economic outlook settles in, a recent study found, adding another layer of difficulty to the already slowing M&A market, experts say.

  • February 12, 2016

    SEC Says Calif. Auditor Was Soft On Chinese Valve Co.

    California accounting firm Frazer LLP and two employees didn't scrutinize an acquisition and reported tax payments by energy industry component manufacturer China Valves Technology Inc., even though they had spotted potential problems, the U.S. Securities and Exchange Commission alleged Thursday in an administrative proceeding.

  • February 12, 2016

    FCC Told Charter Is Blocking Cable App Access

    A tech industry lobbying group told the Federal Communications Commission on Thursday that Charter Communications selectively blocks third-party devices from accessing downloadable apps that allow customers to view cable programming, saying the commission must bar the activity as a condition of approving a merger with Time Warner Cable.

  • February 12, 2016

    Taxation With Representation: Kirkland, Davies, DLA Piper

    In this week's Taxation with Representation, Kirkland & Ellis LLP makes a strong showing in a Texas oil and gas company's $910 million acquisition of assets in Colorado and in a $430 million purchase for a Japanese air conditioner manufacturer.

  • February 12, 2016

    Pepper Hamilton Adds M&A Partner In Southern California

    A former Gibson Dunn partner specializing in mergers and acquisitions and other transactions, including representing Allergan Inc. on its nearly $1 billion purchase of a pharmaceutical company, joined Pepper Hamilton LLP as a partner in Southern California, the firm said on Thursday.

  • February 12, 2016

    Deals Rumor Mill: Intercept Pharma, Barclays, Banco Poplare

    Intercept Pharmaceuticals is mulling a sale, a number of companies have placed bids for Barclays' Asian private wealth business, and Italian cooperative banks Banco Popolare SC and Banca Poplare di Milano are inching closer to a merger that would create Italy's third-largest bank.

  • February 12, 2016

    Post & Schell Advises MRP In $110M Philly RE Grab

    Post & Schell PC announced Friday it had represented the Washington D.C.-based MRP Realty in $110 million worth of transactions as the company snatched up a string of properties in Philadelphia’s Old City neighborhood, including the historic Bourse Building.

  • February 12, 2016

    Neuberger Berman Nets $462M For Brand Acquisition Fund

    Investment manager Neuberger Berman said Thursday its brand acquisition fund has raised $462 million in its latest funding round, citing the fund's small but high-quality portfolio as a big draw for the more than 20 institutions that invested.

  • February 12, 2016

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

    With so much mergers and acquisitions news this week, you may have missed several deals announced in recent days, with firms such as Skadden and Thommessen at the helm. Here, Law360 recaps the ones you might have missed.

  • February 12, 2016

    DraftKings Bets On Combat Sports Competitor

    DraftKings announced Thursday it has acquired a competitor that specializes in mixed martial arts and other combat sports, bolstering the embattled daily fantasy sports giant's offerings as it gears up for dozens of legal and regulatory challenges nationwide.

  • February 11, 2016

    El Paso Shareholders Oppose $142M Bond Cost Shift Proposal

    A shareholder group that won a $100.2 million-plus-interest damage award from a pipeline company last week in a Delaware Chancery Court class action objected Thursday to a proposal that it pay the cost of a $142 million security bond if the state Supreme Court reverses the decision.

  • February 11, 2016

    CEO Only Winner In $416M African Oil Deal, Investors Say

    The CEO of Erin Energy Corp. pushed the company to overpay by as much as $200 million for African oil leases in a $416 million deal that directly benefited him, a proposed investor class alleged Wednesday in Delaware Chancery Court.

  • February 11, 2016

    Blount's $855M Buyout Would Cheat Investors, Suit Says

    Outdoor equipment maker Blount International's top brass conspired with Goldman Sachs to craft an $855 million proposed sale of the company that benefited only themselves, a pension fund alleged Wednesday in Delaware Chancery Court. 

  • February 11, 2016

    First Reserve Buys $350M Texas Wind Project

    First Reserve Corp., an energy-focused private equity and infrastructure investment firm, announced on Thursday that it has purchased the $350 million Mariah North Wind project in northern Texas from Mariah Acquisition LLC for undisclosed terms.

  • February 11, 2016

    2 Firms Reach $2B In Slow First Month Of Real Estate M&A

    Two law firms managed to equal or surpass $2 billion in real estate M&A deal value in January — a feat no other law firm accomplished — in what played out as a slow month following a busy end to 2015.

  • February 11, 2016

    Deals Rumor Mill: Pandora, Saudi Arabian Oil, Takata Corp.

    Pandora Media Inc. is mulling a sale that could value the music streaming service at $1.79 billion, Chinese officials are pushing for a dual listing of Saudi Arabian Oil Co. in Saudi Arabia and Hong Kong, and Takata Corp. is looking to sell its automotive interiors business.

  • February 11, 2016

    Chancellor OKs Third Change In $4.2B Tibco Sale Lawsuit

    A shareholder bid for a $100 million corrective addition to the $4.2 billion Tibco Software Inc.-Vista Equity Partners merger won new life late Wednesday with a Delaware Chancery Court decision to accept an amended complaint in a dispute over the purchase price.

  • February 11, 2016

    SunEdison Barred From Asset Transfers In $150M Arbitration

    A group of South American investors seeking $150 million from troubled renewables developer SunEdison for allegedly abandoning a $733 million acquisition won an order in New York state court Thursday morning temporarily barring it from socking away funds that could be used to pay an arbitral award.

  • February 11, 2016

    Wipro Pays $460M For Insurance Software Co. HealthPlan

    India-based information technology and consulting company Wipro Ltd. has agreed to buy insurance industry software provider HealthPlan Services Inc. from health care-focused private equity firm Water Street Healthcare Partners for $460 million, the companies said on Thursday.

Expert Analysis

  • Leveraged Loan Scrutiny Brings Opportunities For Nonbanks

    Ann Richardson Knox

    Increasing regulatory pressures on banks have created the opportunity for nonbank financial institutions to stake a claim to leveraged loans that would otherwise face regulator criticism. Moreover, investor interest in chasing yield has caused funds to become more interested in the market, say Ann Richardson Knox and Timothy Hicks of Mayer Brown LLP.

  • Amended Rule 26’s Proportionality Standard: The First 60 Days

    Gregory Brown

    While the removal of the familiar “reasonably calculated to lead to the discovery of admissible evidence” standard suggests a departure from prior practice, the first opinions from the federal courts implementing amended Federal Rule of Civil Procedure 26(b)(1) suggest otherwise, says Gregory Brown of Kaufman Dolowich & Voluck LLP.

  • How Does Skadden Stay No. 1?

    Elizabeth Duffy

    Analyzing the reasons why clients choose certain firms reveals a great deal about what is important and valued in the marketplace. Based on interviews with a random sample of over 600 heads of legal in the largest U.S. organizations, Elizabeth Duffy, vice president of Acritas US Inc., identifies the core brand drivers of Skadden Arps Slate Meagher & Flom LLP.

  • OPINION: The Road To Partnership Must Keep Evolving

    Daniel L. Butcher

    In a recent Law360 article it was suggested that promotion to partner was a competition between associates and that taking maternity, paternity or family medical leave could impact an associate's chances at promotion. But this sort of ethos — which may have contributed to law firms’ success in the past — is not the best way to secure the industry's future, says Daniel Butcher, managing partner of Strasburger & Price LLP.

  • A Better Real Estate Deal Through Enviro Due Diligence

    Susan P. Phillips

    In any transaction, especially involving real estate, unless environmental due diligence is sufficient to reveal existing issues and provide a basis to determine associated costs, at least one party may end up not getting what it bargained for, says Susan Phillips at Mintz Levin Cohn Ferris Glovsky and Popeo PC.

  • Challenging An Arbitrator Ab Initio: A Primer

    Solum, Matt.jpg

    Where a perceived conflict is identified early in the process, a party may consider asking the forum overseeing an arbitration to determine whether it is appropriate for an arbitrator to serve on the panel. Despite the potential opacity of these kinds of decisions, discussions with practitioners and experience suggest that such challenges can arise from a number of situations, says Kirkland & Ellis LLP partner Matthew Solum.

  • Takeaways From A Recent Application Of Unocal Standard

    Steven Epstein

    The Delaware courts generally apply the heightened scrutiny standard under Unocal to review challenged board actions taken in response to a perceived corporate control threat. The recent case of Ebix provides another example that the courts disfavor actions that restrict the basic right of stockholders to vote, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Health Care Deal Trends Emerge From JP Morgan 2016

    Amber McGraw Walsh

    After more than 50 structured conversations with health care private equity and investment banking professionals at the recent J.P. Morgan health care conference, we can conclude that there is a deep — almost ubiquitous — interest in finding and structuring the next provider services consolidation, say attorneys with McGuireWoods LLP.

  • Navigating EU’s Ownership Unbundling Rules

    Filip Moerman

    The strict rules passed by European authorities in 2009 to curtail conflicts of interest resulting from the simultaneous holding of transmission and production interests are often perceived as stymieing energy investment. Investors will need to make a convincing case, through detailed and effective mechanics, that the risk for conflict of interest and undue influence is properly contained, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • When Valuations Go South For Unicorns, Other Startups

    Priya Cherian Huskins

    Those of us who have been in Silicon Valley long enough see the signs for an upcoming rash of down-round financings for some private companies, unicorns or otherwise, and many investors may decide to sell a company before all of its “inflated” value has drained. Situations like this call to mind the 2013 Trados decision — which gives insight into a board’s fiduciary duties, says Priya Cherian Huskins of Woodruff-Sawyer & Co.