Mergers & Acquisitions RSS

  • April 24, 2014

    Hyperion To Pay Up To $600M For Israeli Diabetes Drug Co.

    San Francisco biopharmaceutical company Hyperion Therapeutics is set to buy Israel-based Andromeda Biotech, a drug developer working on a new diabetes treatment, in a deal that could end up being worth nearly $600 million, the companies said Thursday.

  • April 24, 2014

    Swedbank Robur Accepts VW's $9.2B Bid For Truck Maker

    Swedbank Robur, which holds 1.9 percent of Swedish truck maker Scania SCV, accepted Volkswagen AG's bid to buy out all minority shares, moving the company closer to its minimum cutoff of 90 percent, the pension group said Thursday.

  • April 24, 2014

    Alstom Denies GE Made $13B Takeover Bid

    Alstom SA said Thursday that it was not aware of any potential takeover bid, following a report that U.S.-based General Electric Co. was in talks to buy the French train and power equipment manufacturer in a deal valuing it at $13 billion.

  • April 24, 2014

    Skadden Reps Brookdale Senior Living In $1.2B JV With HCP

    Tennessee-based nursing home owner and operator Brookdale Senior Living Inc. and California real estate investment trust HCP Inc. have launched a new $1.2 billion joint venture that will own and operate 14 continuing care retirement communities located mostly in Florida, the companies said Thursday.

  • April 24, 2014

    Top Proxy Adviser Backs Loeb Board Shake-Up At Sotheby's

    The No. 1 proxy advisory firm on Thursday came down in favor of Dan Loeb's campaign to take a pair of seats on the Sotheby's board, giving the activist investor a powerful ally in his heated battle for flex over the famed New York auction house.

  • April 24, 2014

    Chemring Swings €167.8M Sale Of European Munitions Units

    Chemring Group PLC will sell its European munitions business to France's Nextar Systems SA for up to €167.8 million ($231.8 million), a deal that will help the military contractor refocus its business on its core sensors and countermeasures technologies, it said Thursday.

  • April 24, 2014

    Biomet Opts For $13.4B Sale To Zimmer, Halts IPO Plans

    Private equity-backed Biomet Inc. said Thursday it would trade hands in a $13.4 billion sale to medical device maker Zimmer Holdings Inc., effectively scrapping the orthopedic product firm's initial public offering plans amid a flurry of deal-making in the life sciences space.

  • April 24, 2014

    Kirkland-Led Chobani Gobbles Up $750M TPG Investment

    TPG Capital poured $750 million into Chobani Inc., putting the No. 1 Greek yogurt maker in the U.S. on more solid footing as it moves to expand its product line and sniffs out an initial public offering, the company said late Wednesday.

  • April 24, 2014

    Waiting On FTC, Men's Wearhouse Extends Jos. A. Bank Offer

    Still waiting for regulators to approve its proposed $1.8 billion purchase of rival Jos. A. Bank Clothiers Inc., Men's Wearhouse Inc. said Thursday that it would yet again postpone the deadline for the target company's shareholders to throw their stock behind the deal.

  • 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.

Expert Analysis

  • Some Early Indications From The 2014 Proxy Season

    William M. Kelly

    As the 2014 proxy season unfolds, hedge fund activists are increasingly borrowing the playbooks of traditional governance activists, and there is rampant speculation that large institutional investors are supporting these funds behind the scenes, sometimes feeding them ideas. Meanwhile, director tenure may be the next frontier in the efforts of governance advocates to influence board composition, say William Kelly and Ning Chiu of Davis Polk & Wardwell LLP.

  • Legal Evolution: It’s Back To Business

    Michael S. Lipps

    More often, smaller rivals are taking market share from the largest law firms. In this context, these smaller rivals are not small — they are super-regional firms with between 201 and 750 attorneys. These firms are large enough to serve the needs of a global corporation at a better value. And as they grow, they need to be sure they don’t make the same mistakes as the firms from which they’ve taken market share, says Michael Lipps of LexisNexis.

  • 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.