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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Apple Inc. and Alibaba Group Holding Ltd. may be interested in pairing up their payment units, while the Ontario Teachers' Pension Plan and Public Sector Pension Investment Board are still seeking to buy satellite manufacturer Loral Space & Communications Inc., despite their original $7 billion offer being rejected in June.
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.
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.
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 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.
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.
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.
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.
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)
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.
The Delaware Court of Chancery’s decision this month in the case of Rural/Metro Corp. Stockholders Litigation awarding nearly $76 million in damages against a seller’s financial adviser highlights the difficult strategic questions nonsettling defendants face by proceeding alone to trial, including whether to put on trial the conduct of the settling defendants, say attorneys with Orrick Herrington & Sutcliffe LLP.