Mergers & Acquisitions

  • October 30, 2014

    Shareholder Activism Boom Yields Big Payday For 3 Firms

    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.

  • October 29, 2014

    Chancery Nixes $3.1M Bid For Fees In TPC Shareholder Suit

    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.

  • October 29, 2014

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

    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.

  • October 29, 2014

    Bankrupt AWI Gets Nod For $288M Sale To C&S

    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.

  • October 29, 2014

    Struggling Cider Co. Says Irish Pub Bid Good For Revenue

    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.

  • October 29, 2014

    Deals Rumor Mill: BG Group, E.On, Berkshire Hathaway

    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.

  • October 29, 2014

    Middle Market Deals Dominate PE In 2014

    With a frothy stock market blocking take-private transactions and high valuations making many deals look pricey, private equity investors are flocking to the middle market, according to a new report from PitchBook Wednesday.

  • October 29, 2014

    Numericable To Finance Vivendi Deal With $6B Capital Hike

    Numericable Group SA on Wednesday launched a €4.7 billion ($5.94 billion) capital hike to help finance its takeover of Vivendi SA's mobile network operator SFR, a deal that will see Numericable and SFR unite to become one of Europe's biggest wireless providers.

  • October 29, 2014

    EU Ends Probe Into Ahlstrom-Munksjo Merger's Dubious Data

    The European Union’s competition watchdog on Wednesday dropped its allegations that Finnish paper maker Ahlstrom Corp and Sweden’s Munksjo AB gave misleading information to regulators to win merger approval, saving the combined company, Munksjo Oyj, from paying a potentially hefty fine.

  • October 29, 2014

    Charter Offers $1.5B Debt For Acquisition Of TWC Customers

    Charter Communications Inc. said Wednesday it will issue $1.5 billion in bonds to partly fund its acquisition of 1.5 million Time-Warner Cable Inc. customers, an offshoot of Comcast Corp.’s $45 billion acquisition of Time-Warner designed to help the mega-deal pass antitrust muster.

  • October 29, 2014

    Manatt Nabs Antitrust, Mergers Pro From Shearman

    Manatt Phelps & Phillips LLP has snagged an antitrust partner with over two decades of experience for its New York office from Shearman & Sterling LLP, where she represented clients in multibillion-dollar acquisitions and helped create the firm’s U.K. competition practice.

  • October 29, 2014

    Megadeals Pushed US Energy M&A To High Mark In Q3

    Strong interest in a rash of new opportunities across the oil production space driven by the U.S. shale boom and a spate of megadeals helped drive M&A in the oil and gas industry to its strongest quarterly performance in a decade, according to a new report from advisory and accounting firm PwC.

  • October 29, 2014

    NAB Pares Great Western Stake In Push To Exit US Market

    National Australia Bank Ltd. sold off nearly 32 percent of its stake in Great Western Bancorp Inc. earlier this month as part of its plan to divest itself of all interest in its former U.S. subsidiary, Great Western said in a Wednesday securities filing.

  • October 29, 2014

    October M&A Driven By Spinoffs As Cos Look To Slim Down

    Nearly a dozen big-ticket companies have publicly tangoed with corporate slimdown plans over the past month, eschewing the conglomerate structure in favor of spinoffs and other asset separations that can wring value from the capital markets and traditional M&A deals. Here, Law360 examines four factors driving the trend.

  • October 29, 2014

    Anadarko's Western Gas Pays $1.5B For Nuevo Midstream

    Anadarko Petroleum Corp. subsidiary Western Gas Partners LP will buy private-equity backed Nuevo Midstream LLC for $1.5 billion, bolstering development potential in the fertile Delaware Basin where its parent is producing energy.

  • October 29, 2014

    Fiat Chrysler Plots Ferrari Spinoff

    Fiat Chrysler Automobiles NV on Wednesday unveiled plans to spin off luxury car maker Ferrari into an independent company and list a portion of its shares, part of the newly merged outfit's push to raise capital in support of its $60 billion-plus growth strategy.

  • October 28, 2014

    Allergan Says Ackman’s Valeant Vote Would ‘Gut’ Protections

    Allergan Inc. on Tuesday urged a California federal judge to block activist investor Bill Ackman from participating in a shareholder vote on a board overhaul that could enable a $53 billion takeover by Valeant Pharmaceuticals International Inc., arguing investor protections would be “gutted” if Ackman gets his way.

  • October 28, 2014

    Engility Closes $1.1B Deal To Acquire PE-Backed TASC

    Government contractor Engility Holdings Inc. will acquire private-equity backed professional services provider TASC in an all-stock deal valued at $1.1 billion including debt that combines forces in defense, national security and intelligence circles, it said Tuesday.

  • October 28, 2014

    Businesses Dropping Cash On M&A, Stock Buybacks: Survey

    U.S. businesses are spending more of their cash on mergers and acquisitions, share repurchases and capital expenditures and expect the trend to continue in the final quarter of 2014, according to an Association for Financial Professionals survey released on Monday.

  • October 28, 2014

    Market Rumors: Numericable, Cofco, Infibeam

    Numericable is planning a $6 billion capital hike to fund its takeover of Vivendi's SFR, while China's largest state-run grain-trading company plans to kick off an IPO in about three years.

Expert Analysis

  • Stretching Singles Into Doubles: Alternative PE Exits

    Kenneth R. Koch

    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.

  • How Law Firms Are Revolutionizing Services In California

    Michael Pontrelli

    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.

  • When Things Do Not Go As Planned In A Bankruptcy Sale

    Jeffrey A. Krieger

    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.

  • The Legal Professions’ Curious Under-Use Of 2nd Opinions

    Judge Wayne D. Brazil

    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: The New EU Competition Commissioner

    Stephen Mavroghenis

    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.

  • New Patent Metrics For Management And Investors

    Stephen Glazier

    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.

  • Death Of The 'Double Irish Dutch Sandwich'? Not So Fast

    Jeffrey L. Rubinger

    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.

  • Use Social Media For Legal Service Only As A Last Resort

    Steven Richard

    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.

  • Sterling Case Offers Valuable Trustee Incapacity Insight

    Shari A. Levitan

    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)

  • An Associate's Perspective On Business Development

    Jason Idilbi

    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.