An Illinois federal judge granted class certification to customers claiming the merger of two Chicago-area hospital groups resulted in price hikes for patients, finding Tuesday that the class showed the case would best be heard as a class action.
Bankrupt wireless firm LightSquared Inc. on Tuesday won the green light to proceed with most of its suit against Dish Network Corp. and its chairman Charlie Ergen, whom it is accusing of secretly buying $1 billion in LightSquared's debt in a tactical ploy for its valuable spectrum assets.
Although regulators made some concessions, the final version of the Volcker Rule released Tuesday doesn't give banks much leeway when it comes to compliance, financial reform advocates and attorneys say.
Office Depot Inc. — which recently merged with OfficeMax Inc. — will place its new corporate headquarters in Florida, it said Tuesday, ending months of speculation and handing a blow to Illinois, which had toyed with tax break proposals to attract the retail giant.
The promise of a regulatory clampdown on lenders' holdings in private equity and other asset classes fueled a surge of secondary buyout activity even before the Volcker rule's approval on Tuesday, and experts predict deal makers will stay active in the near term as banks continue to wind down assets.
Bracewell & Giuliani LLP has added to its partnership ranks a former Vinson & Elkins LLP corporate attorney who specializes in energy industry transactions, adding depth to the firm’s Houston office, the firm said Tuesday.
London-based copper miner Kazakhmys PLC said Tuesday it has agreed to sell its 50 percent stake in a company operating a Kazakhstan power plant and 100 percent of a hydroelectric power company for $1.3 billion in cash to a Samruk Energy, a sovereign wealth fund.
Carlyle Group LP-owned Galaxy Brand Holdings will buy the once-prominent Linens ‘n Things brand from private equity firms Gordon Brothers Group, Hilco Global and Infinity Lifestyle Brands and seek to revitalize the name, the companies said Monday.
CVS Caremark Corp. and Cardinal Health Inc. will launch a joint venture that will serve as the largest generic drug sourcing entity in the U.S., the companies announced Tuesday.
The Mississippi Public Service Commission unanimously blocked part of Entergy Mississippi Inc.'s proposed $1.78 billion divestment of electric transmission lines to ITC Holding Corp., the commission said Tuesday.
Volvo AB will sell its equipment rental unit to private equity firm Platinum Equity LLC for about 7.2 billion Swedish crowns ($1.1 billion), the companies said Tuesday, in a deal designed to help Volvo focus on core businesses while entrenching Platinum in the rental business.
Many years ago, during a drafting session and in front of 20 people, a senior partner called me “dearie” and asked me to get him coffee with cream and sugar. The next day, when he got up to get some water, I asked him if he would, please, get me a Diet Coke, says Kerry Berchem, co-head of Akin Gump Strauss Hauer & Feld LLP's corporate practice and a member of the firm's management committee.
In an effort to focus solely on the Kate Spade label, Fifth & Pacific Cos. Inc. will sell Lucky Brand Jeans for $225 million to an affiliate of private equity firm Leonard Green & Partners LP, the retail holding company said Tuesday.
U.S. financial regulators on Tuesday approved a final regulation for implementing the Volcker Rule, the Dodd-Frank Act's ban on proprietary trading by banks, bringing to a close a protracted, complex and clamorous rulemaking process and opening a new chapter of potential challenges to the regulation.
Novartis is considering a one-for-one swap of its $4 billion animal health unit for a yet-unnamed Merck division, while a Blackstone-backed landlord could find itself under new ownership in one of Germany's biggest real estate transactions of the year.
Activist hedge fund Elliott Management Corp. said Tuesday that it would use its sizable minority stake in Celesio AG to stymie a €6.1 billion ($8.4 billion) takeover bid lobbed at the German drug distributor by California-based peer McKesson Corp.
Alibaba Group plans to invest HK$2.82 billion ($361 million) in appliance manufacturer Haier Electronics Group Co. Ltd., under a deal between the companies to form a logistics joint venture offering the Chinese e-commerce giant easier access to consumers in the massive country's mountainous interior, Haier announced Friday.
Kentz Corp. Ltd. will dole out $435 million to pick up rival Valerus Field Solutions, giving the U.K. engineering firm a stronghold in the U.S. and Latin-American oil and gas engineering industries, according to a Monday statement.
A New Jersey bankruptcy judge last week dealt a blow to Prime Healthcare Services Inc., upholding the sale of a bankrupt hospital and dismissing Prime’s lawsuit against the purchaser, which Prime said conspired to box the company out of the New Jersey hospital market.
A former Akin Gump Strauss Hauer & Feld LLP partner specializing in the energy and infrastructure sector has joined Dechert LLP's corporate and energy and clean technology practices, Dechert said Monday.
While the revisions to the EU merger rules are meant to reduce the administrative burden and cost for business, they will increase the burden imposed on companies when a close review of the transaction is required in order to assess potential competitive effects. This increased burden may outweigh the benefits of the revision package, say Svajune Sakalyte and Jens Hackl of Morrison & Foerster LLP.
Although treatment of the attorney-client privilege has not traditionally been a focus of merger negotiations, such consideration should now be given in light of the Delaware Court of Chancery ruling in Great Hill Equity Partners IV v. SIG Growth Equity Fund I, say attorneys with Paul Hastings LLP.
If certain intellectual property assets are to be used in the business being sold as well as the one retained by the seller, the parties must carefully draft language dividing the IP ownership and use rights. Remember that accepting right to use rather than ownership will impact the ability to exclude others from exploiting the IP asset as well as the freedom to use the IP without restriction, say Ethan Horwitz of King & Spalding LLP and Kandis Koustenis of The Francis Co.
The Second Circuit’s opinion in Halebian v. Berv — a significant departure from its own oft-cited Joy v. North decision — highlights that a derivative plaintiff’s entitlement to discovery, if any, is inversely proportional to the showing made by a special litigation committee in support of its motion to terminate, says Donald Corbett of Lowenstein Sandler LLP.
Although it is theoretically possible to share intellectual property ownership between the buyer and the target when constructing shared-ownership deals, there are circumstances that make joint ownership impractical. For instance, granting trademark ownership rights to two unrelated entities may be contrary to fundamental trademark policy or, at the very least, may cause consumer confusion or result in a weakened trademark, say Ethan Horwitz of King & Spalding LLP and Kandis Koustenis of The Francis Co.
Because Latin American countries differ substantially from one another, there is no effective one-size-fits-all approach to anti-corruption compliance in the region. That said, companies doing business in the region should be aware of a number of recurring compliance concerns that may lead to an increased risk of violating the FCPA or other applicable anti-bribery laws, say attorneys with Debevoise & Plimpton LLP.
Although the bones of the R&D tax credit have not changed substantially over time, there have been small revisions legislatively and further clarification provided by court rulings. The latest extension of the credit — in effect until Dec. 31, 2013 — includes changes around the rules for taxpayers under common control and rules for computing the credit when a portion of a trade or business changes hands, says Jacqueline Lee, tax director at Baker Tilly Virchow Krause LLP.
Even if the European economic recovery remains constrained, the global real asset rotation and navigation of the commercial real estate debt gap should continue to propel real estate investment up the risk curve in 2014. The growing participation of larger institutional players also signals larger deals in core markets, says Eric Rosedale, co-chairman of Dentons real estate group in Europe.
A new law in Mongolia dramatically alters the investment landscape in the country, eliminating the broad restrictions on private foreign investment in the minerals, communication and financial sectors that previously existed, removing the parliament from the approval process, and ending the distinction between foreign and domestic investors, says Stewart Diana of DLA Piper LLP.
Given the Tax Court decision in G.D. Parker Inc. v. Commissioner of Internal Revenue, corporate structures involving the holdings of personal use U.S. real estate should be revisited. Several alternative structures might be feasible and may serve to reduce or avoid the Parker risk for new acquisitions, says Charles Kolstad of Venable LLP.