Mergers & Acquisitions

  • September 19, 2014

    Al Jazeera Hits Gore With Counterclaims In $65M Escrow Fight

    Al Jazeera America Holdings I Inc. on Thursday hit Al Gore and his Current TV co-founder with counterclaims in their Delaware Chancery Court suit over Al Jazeera's purchase of the failed cable network, saying they aren't entitled to $65 million held in escrow.

  • September 19, 2014

    Hot Alibaba Launch Likely To Spark Additional IPO Frenzy

    The U.S. market for initial public offerings is well on the way to its strongest year in more than a decade, and after the success of the Alibaba Group Holding Ltd. listing Friday — the largest IPO in U.S. history — the market is unlikely to hit the brakes any time soon, experts say.

  • September 19, 2014

    Taxation With Representation: Fenwick, Ropes, Simpson

    In this week's Taxation with Representation, Simpson Thacher & Bartlett LLP works TRW Automotive Holdings Corp.'s $13.5 billion monster sale to a German rival while Fenwick & West LLP guides travel management software maker Concur Technologies Inc. on its $8.3 billion acquisition by SAP SE.

  • September 19, 2014

    Allergan Defends Redactions In Valeant Insider Trading Suit

    Allergan Inc. on Thursday asked a California federal court to reject Valeant Pharmaceuticals International Inc.'s attempts to bar it from redacting documents in its insider trading suit against Valeant, saying its rival only wants the documents to help a $53 billion hostile takeover bid. 

  • September 19, 2014

    Deals Rumor Mill: Siemens, Alcatel-Lucent, KKR

    Siemens AG is set to offer upwards of $6.1 billion for U.S.-based compressor and turbine maker Dresser-Rand Group Inc., while a consortium of telecom businesses have placed a bid to build a $10 billion state-owned mobile network in Mexico.

  • September 19, 2014

    Alibaba IPO Buoys M&A Outlook For 2 Big-Ticket Deal Makers

    The historic initial public offering of Alibaba Group Holding Ltd. on Friday injected multibillion-dollar windfalls to the war chests of a pair of mammoth companies already under the M&A microscope, sending the marketplace buzzing over their next deal-making moves.

  • September 19, 2014

    Algonquin Agrees To Pay $327M For Regulated Water Utilities

    Canadian energy player Algonquin Power & Utilities Corp. said Friday that its regulated utility business will pay Carlyle Group-backed Western Water Holdings approximately $327 million for water distribution utility Park Water Co., which produces and sells water in Southern California and Western Montana.

  • September 19, 2014

    Baker & McKenzie Grabs M&A, Bankruptcy Partners In NY

    Baker & McKenzie has snagged two attorneys from Kelley Drye & Warren LLP and Winston & Strawn LLP who will expand its transactional practices particularly both mergers and acquisitions and bankruptcy, the firm said Thursday.

  • September 19, 2014

    Pulling Up Stakes: Stradley, Cadwalader, Hogan Lovells

    In this week's roundup of dealmakers on the move, Stradley Ronon Stevens & Young LLP landed an investment management pro in Washington, D.C., Cadwalader Wickersham & Taft LLP picked up a capital markets partner in London and Hogan Lovells added a project finance pro in Tokyo.

  • September 19, 2014

    Venable Wins Back Ex-Hotel General Counsel In San Francisco

    Venable LLP has lured back a hospitality, real estate and mergers and acquisitions pro who was the former general counsel at hotel management company SBE to join its expanding San Francisco office, the firm said.

  • September 19, 2014

    Aquis Clears Key Hurdle For $203M Australia Casino Buy

    The Hong Kong investor-backed Aquis Casino Acquisitions Pty Ltd has scored a key approval from Australia's foreign investment watchdog to move forward with a controversial AU$216.9 million ($194.4 million) purchase of a local casino, according to a Friday investor filing.

  • September 19, 2014

    Total Mulls $2.3B Offer For Adhesive Unit Amid Sale Push

    Facing shareholder pressure to improve cash flow and beef up dividends, French multinational energy giant Total SA said Friday it is mulling a €1.74 billion ($2.25 billion) offer for its Bostik adhesives unit from Arkema — a French chemical company that was itself spun out from Total in 2006.

  • September 19, 2014

    Telefonica Touts $9.3B Deal For Prized Vivendi Brazil Unit

    Spain's Telefonica SA took a major step in its global expansion effort on Friday with a firmed-up €7.2 billion ($9.3 billion) agreement to fold Vivendi SA's sought-after Brazilian unit into its existing operations in the country, spawning a new telecom powerhouse.

  • September 19, 2014

    Dealmakers Q&A: Crowell & Moring's Bryan Brewer

    Big data and information technology are poised to play prominent roles in upcoming transactions. The companies and investors that seem to be placing a high value on these dynamics appear to have an influence on results in pricing and the overall success of the transaction after it closes, says Bryan Brewer, co-chairman of Crowell & Moring LLP's corporate group.

  • September 19, 2014

    Dealmakers Q&A: Nelson Mullins' Brian Moore

    The potential risks for successor liability even after exhaustive due diligence, coupled with the costs in terms of corporate resources and time to conduct such due diligence, have in recent years had a chilling effect on mergers and acquisitions involving companies with significant overseas operations, says Brian Moore of Nelson Mullins Riley & Scarborough LLP.

  • September 18, 2014

    Jones Day Advises SAP In $8.3B Concur Tech Buy

    SAP SE said Tuesday it was buying travel and expense management software marker Concur Technologies Inc. in a deal worth $8.3 billion, adding to SAP’s growing list of recent multibillion-dollar acquisitions.

  • September 18, 2014

    ACE Sues American Dream Developer In $5.2M Premium Row

    ACE American Insurance Co. on Wednesday sued Triple Five Group Ltd. in New Jersey over an allegedly fraudulent transfer of a ground lease as part of the multibillion-dollar American Dream entertainment complex, which ACE contends was intended to stymie its collection of a $5.2 million arbitration award.

  • September 18, 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 like Weil, Simpson Thacher, Sullivan & Cromwell and others. Here, Law360 takes a look at the ones you might have missed.

  • September 18, 2014

    Pabst Fetches $700M From Oasis Beverages, TSG

    Billionaire food-industry investor C. Dean Metropoulos will sell Pabst Brewing Co., creator of the hipster favorite Pabst Blue Ribbon, to Oasis Beverages and TSG Consumer Partners LLC in a deal that values the brewery at $700 million — nearly three times what Metropoulos paid for it, lead buyer Oasis said Thursday.

  • September 18, 2014

    Deals Rumor Mill: ZF Friedrichshafen, Hess, CRH PLC

    Despite being less than a week removed from its $13.5 billion purchase of TRW Automotive Holdings, ZF Friedrichshafen is already looking into making more moves, while Hess and Venezuelan state-run oil and gas company Petroleos de Venezuela have found a buyer for their Hovensa refinery.

Expert Analysis

  • Reverse Due Diligence — A New Trend In Financial M&A

    Excerpt from Lexis Practice Advisor
    Elizabeth A. Raymond

    Concerns around regulatory uncertainty is starting to be reflected in the merger and acquisition process of specialty finance businesses, and some of the tactics of the immediate post-credit crisis period — selling assets and businesses quickly for a discounted price with no strings attached — are now less likely to pass muster, say Elizabeth Raymond and Jeffrey Taft of Mayer Brown LLP.

  • Equity Cure Rights In Middle-Market Deals — A Primer

    Mark M. Oveson

    The equity cure right has gained significant acceptance in all ranges of the middle market for sponsor-backed deals, and lenders are adapting equity cure provisions for the middle-market risk profile by including tighter controls on the use of proceeds and limits on the borrower’s ability to exercise the cure right, say attorneys with Brownstein Hyatt Farber Schreck LLP.

  • Forum Selection Bylaws Are Best Considered On A Clear Day

    Michael G. O’Bryan

    An Oregon court’s decision in Roberts v. TriQuint SemiConductors Inc. shows that enacting an exclusive forum provision on a clear day, before a company sees the storm clouds of litigation on the horizon, may support the enforceability of the provision, say attorneys with Morrison & Foerster LLP.

  • Preserving The Attorney-Client Privilege In M&A

    Joseph B. Crace Jr.

    Most courts agree that parties to a merger or sale of assets must share a legal — rather than a purely commercial — “common interest” at the time the information is shared in order for no waiver of the attorney-client privilege to take place. However, there is broad disagreement on what constitutes a “shared legal interest,” say attorneys with Bass Berry & Sims PLC.

  • 8 Trends Influencing Energy Transactions

    Sean T. Wheeler

    More and more midstream companies are in need of capital to take advantage of significant infrastructure investment opportunities, which should lead to more public and private merger and acquisition activity in the midstream space along with additional initial public offerings, says Sean Wheeler of Latham & Watkins LLP.

  • OPINION: Pro Bono May Help Diversity Recruiting Efforts

    David A. Lash

    A recent Law360 article about the perennial BigLaw concern over how to recruit and retain female and ethnically diverse attorneys addressed a new approach being taken by some law firms — going beyond traditional mentoring programs by creating a sponsorship relationship. Pro bono can also play a part, say David Lash and Merle Vaughn of the Association of Pro Bono Counsel.

  • More State Courts Upholding Forum Selection Bylaws

    Melissa L. Nunez

    The recent case of Groen v. Safeway represents a clear move by California to join the growing list of states going on record to endorse the enforceability of forum selection provisions in corporate bylaws, say Robert Friedel and Melissa Nunez of Pepper Hamilton LLP.

  • How Research Efficiency Impacts Law Firm Profitability

    David Houlihan

    For a law firm, excess time dedicated to legal research generates waste, either in the form of artificially reduced billable hours or, particularly in flat or contingency fee projects, as overhead eroding the profitability of legal work. By measuring five factors, firms will begin to understand their own opportunities for improving profits, says David Houlihan of Blue Hill Research Inc.

  • Winning Strategies For Bidders In M&A Auctions

    Robert C. Hussle

    Obtaining a successful outcome when bidding in a merger and acquisition auction is a balancing act between two competing goals — winning the bid and minimizing the cost of losing, says Robert Hussle of Rogers & Hardin LLP.

  • Can EU States Do Whatever They Want To Foreign Takeovers?

    Stephen C. Mavroghenis

    The European Union competition commissioner recently cited French initiatives to block the GE-Alstom deal as an example of “worrying signals of protectionist threats.” France is not, however, to be singled out as EU member states have sought to protect their national champions for decades, relying on, among others, an EU merger provision, say attorneys with Shearman & Sterling LLP.