Mergers & Acquisitions

  • September 2, 2014

    Iliad Works On Fresh T-Mobile Bid After Spurned $15B Try

    Iliad SA, the French telecom firm that failed to win over T-Mobile US Inc. with a $15 billion offer, said Monday that it is still hoping for a slice of the wireless carrier as it cobbles together a sweetened bid, potentially alongside a private equity partner.

  • September 2, 2014

    Dollar General Beefs Up Family Dollar Bid, Could Go Hostile

    Dollar General Corp. on Tuesday increased its offer for Family Dollar Stores Inc. to $9.1 billion and said it would consider going hostile, making good on its threat to raise the stakes in a tense fight for control of the discount retailer.

  • September 2, 2014

    Ousted House Leader Eric Cantor Joins Moelis & Co.

    Former House Majority Leader Eric Cantor, R-Va., has joined Wall Street investment bank Moelis & Co. as a senior manager and board member, the company announced Tuesday, landing on his feet after a surprise primary election loss in June.

  • September 2, 2014

    Cargill Set To Pay $440M For ADM's Chocolate Biz

    Cargill Inc. has agreed to buy Archer Daniels Midland Co.'s global chocolate business for $440 million, the companies said Monday, in a move that continues the summer's flurry of food and beverage industry dealings and bolsters Cargill's chocolate division.

  • September 2, 2014

    Marathon Looks To Buoy $3B Hess Deal With Note Offering

    Marathon Petroleum Corp. kicked off a public offering of senior notes Tuesday to drum up even more capital to back its nearly $3 billion acquisition of rival Hess Corp.'s sprawling gas station network, after locking down a $700 million term loan last week.

  • September 2, 2014

    Select Income Snags ARCP's Cole Corporate In $3B Deal

    Select Income REIT said Tuesday that it will buy Cole Corporate Income Trust Inc. from American Realty Capital Properties Inc. in a deal valuing the business at about $3.1 billion.

  • September 2, 2014

    EU Clears Telefonica Deutschland's €9B E-Plus Merger

    Telefonica Deutschland has received final approval from European regulators to buy the E-Plus Group for €8.6 billion ($11.2 billion), combining Germany's third- and fourth-largest telecom providers in a heavily scrutinized deal that required concessions to ease antitrust concerns.

  • September 2, 2014

    Dealmakers Q&A: Gray Plant's Mark Williamson

    The announcement of a transaction involving the acquisition of a publicly held company often leads to the filing of one or more “strike” suits against the public company. Reform is needed — likely through judicially imposed shifting of attorney fees — in order to reduce the number of frivolous suits, says Mark Williamson of Gray Plant Mooty.

  • September 2, 2014

    Compuware Agrees To $2.5B Sale After Lengthy Buyer Search

    Compuware Corp. will go private in a $2.5 billion deal with private equity firm Thoma Bravo, the pair said Tuesday, wrapping up a lengthy search for a buyer jump-started by activist investors urging the company to consider a sale.

  • September 2, 2014

    Apollo Cruises To $3B Prestige Exit With Sale To Norwegian

    Apollo Global Management LLC is cashing out of a seven-year $850 million investment in luxury cruise operator Prestige Cruises International Inc. to the tune of $3.025 billion, with former portfolio company Norwegian Cruise Line Holdings Ltd. picking up the company, it said Tuesday.

  • September 1, 2014

    Heineken Unloads Mexican Packaging Unit In $1.2B Deal

    Heineken NV is selling its Mexican packaging business to Crown Holdings Inc. for $1.23 billion, the Netherlands-based beer brewer announced Monday.

  • August 29, 2014

    Carlyle Group To Pay $115M To Settle PE Collusion Row

    Carlyle Group LP has agreed to pay about $115 million to settle a long-running proposed class action brought against it and several other private equity firms for allegedly teaming up to depress prices in leveraged buyouts leading up to the financial crisis, according to media reports on Friday.

  • August 29, 2014

    Al Jazeera, Gore Duel Over Who's Flouting Chancery Rules

    Al Gore and his Current TV co-founder's suit over Al Jazeera's purchase of the failed network saw a fight about court filing redactions intensify late Thursday, with both sides accusing each other of flouting the Delaware Chancery Court’s rules on confidentiality.

  • August 29, 2014

    GFI Shareholder Suit Says CME Takeover Undervalues Co.

    Brokerage and trade services provider GFI Group Inc. and futures exchange operator CME Group Inc. were hit with a proposed shareholder class action in a New York court Friday to block CME’s $580 million takeover of GFI, alleging the deal undervalues the company.

  • August 29, 2014

    Taxation With Representation: Gibson Dunn, Cravath, Wachtell

    In this week's Taxation With Representation, Wachtell helps Tim Hortons combine with Burger King into a fast-food juggernaut, while Cravath guides California biotech company InterMune on its $8.4 billion sale to Roche.

  • August 29, 2014

    Woolworths To Raise $937M To Repay David Jones Financing

    South Africa's Woolworths Holdings Ltd. said Friday it plans to raise 10 billion rand ($937 million) through a renounceable rights offer to help repay financing for its AU$2.15 billion ($2 billion) buyout of Australian clothing retailer David Jones Ltd.

  • August 29, 2014

    Infineon's $3B Buy Of Chipmaker Sparks Shareholder Suits

    Shareholders of California-based chipmaker International Rectifier Corp. this week filed two putative class actions in California court over its proposed $3 billion acquisition by the German semiconductor giant Infineon Technologies AG, saying the transaction undervalues International Rectifier.

  • August 29, 2014

    Dalian Forms $814M JV For Edge In China's E-Commerce Field

    Real estate, entertainment and retail conglomerate Dalian Wanda Group has signed a deal with Baidu and Tencent, two of the largest Web services companies in China, to create a $814 million joint venture as rival Alibaba Group Holding Ltd. ramps up to issue its initial public offering.

  • August 29, 2014

    Pulling Up Stakes: Ropes & Gray, King & Spalding, Tandem

    In this week's dealmakers on the move, Ropes & Gray LLP picked up a U.K. private equity pro from Travers Smith LLP in London, while King & Spalding LLP added a corporate partner from Freshfields Bruckhaus Deringer LLP in New York, and Washington, D.C., boutique law firm Tandem Legal Group nabbed two tax and M&A pros from Skadden Arps Slate Meagher & Flom LLP.

  • August 29, 2014

    Jones Day Reps Riverside Co. In Craft Beer Market Win

    Private equity firm Riverside Company said Friday it would acquire small-scale brewery Uinta Brewing Co., making for a rare win in the bustling craft beverage marketplace that has largely kept deal makers on ice.

Expert Analysis

  • Confronting Employment Issues In China M&A Deals

    David S. Wang

    In China, we often come across targets that do not properly pay overtime to employees. When a buyer acquires a target through an equity transfer, the liabilities for past due overtime pay transfer to the buyer, and the target’s employees may claim accumulated overtime pay for many years before the closing, say attorneys with Paul Hastings LLP.

  • 5 Reasons Large Companies Are Turning To Boutique Firms

    David M. Levine

    The departure of attorneys from large firms is a trend that has increased as a result of the Great Recession and its aftermath, and boutique firm partners who previously worked at large firms understand the potential large-firm pitfalls, say attorneys with Levine Kellogg Lehman Schneider & Grossman LLP.

  • How To Protect In-House Legal Privilege Internationally

    Martje Verhoeven-de Vries Lentsch

    Many companies regularly communicate with in-house legal advisers all over the globe. Are these communications privileged? By answering five questions, companies and attorneys can perform a high-level, initial assessment of legal privilege protection in a multijurisdictional context, says Martje Verhoeven-de Vries Lentsch of De Brauw Blackstone Westbroek and Haynes and Boone LLP.

  • 2nd Circ. Has Made Morrison Standard Even More Arbitrary

    J. Robert Brown Jr.

    The Second Circuit was appropriately concerned with the implications of the Section 10(b) test set forth by the U.S. Supreme Court in Morrison v. National Australia Bank. But in ParkCentral Global Hub Ltd. v. Porsche Automobile Holdings, the court developed a test only used to deny the availability of Rule 10b-5, says J. Robert Brown Jr. of Sturm College of Law at the University of Denver.

  • Tales From The Dark Side Of Emerging Markets

    Kevin Atkins

    The challenges facing investors in emerging markets can increase exponentially when host governments are interventionist and prioritize nationalistic policies over the development of resource wealth, as seen in some transactions in the oil and gas sector, say Kevin Atkins and Rahwa Gebretnsaie of Chadbourne & Parke LLP.

  • The 8 Gotchas Of Technology Contracting: Part 2

     Craig Auge

    Contracts for providing and obtaining technology establish important, often long-term relationships. When they involve mission-critical products and services, the impact of a flawed contract can be devastating, says Craig Auge of Vorys Sater Seymour and Pease LLP.

  • The 8 Gotchas Of Technology Contracting: Part 1

    Craig Auge

    Every business runs at least in part on technology — and, when contracting for technology products and services, the “gotchas” don’t discriminate based on size or industry. All parties can benefit from avoiding these situations, says Craig Auge of Vorys Sater Seymour and Pease LLP.

  • Tax-Free REIT Spinoffs Could Be The Next Big Thing

    Thomas A. Humphreys

    Windstream Holdings Inc.’s recent tax-free real estate investment trust spinoff highlights an intriguing option for U.S. corporations — particularly those in the technology, telecommunications or utility sector — as the IRS continues to expand the range of “real estate” assets that can be held by an REIT, say Thomas Humphreys and Matthew Lau of Morrison & Foerster LLP.

  • From The Book Of Jargon: Accelerated Share Repurchase

    In this short video — the latest installment from the "Book of Jargon" — Latham & Watkins LLP partner Rafal Gawlowski defines "accelerated share repurchase."

  • 4 Trends In FTC Antitrust Regulation And Enforcement

    Leslie John

    The Federal Trade Commission has increasingly challenged conditional pricing practices, but without articulating a bright-line rule. Practitioners should always consider whether the economic realities of a client’s industry lends itself to one analysis over the other, say attorneys with Ballard Spahr LLP.