The surge in mergers and acquisitions activity over the first half of the year is expected to continue into the fall, with more deals expected in the health care and telecommunications sectors, M&A attorneys say.
With so much M&A news this week, you may not have seen some announced deals involving law firms like Ropes & Gray and others. Here, Law360 takes a look at the ones you may have missed.
Brookfield Property Partners is purchasing auto-dealer real estate financing firm Capital Automotive LP from real estate investor DRA Advisors LLC for more than $4.28 billion, a purchase Brookfield Property confirmed with Law360 on Thursday.
Australian natural resources firm Intrepid Mining Ltd. on Thursday proposed a roughly $103 million share buyback and a $54.7 million merger with Blackthorn Resources Ltd., with an eye toward pursuing a copper mining project in Zambia.
The Federal Trade Commission will require pharmaceutical company Prestige Brands Holdings Inc. to divest assets connected with the motion sickness drug Bonine to resolve competition concerns over its proposed $750 million acquisition of Insight Pharmaceuticals LLC, the agency said Thursday.
Power giant Energy Future Holdings Corp. said Wednesday that within weeks it intends to unveil to the Delaware bankruptcy court details of a plan to auction off the equity in a reorganized company, a day after NextEra Energy Inc. withdrew its proposal for a comprehensive reorganization.
CSR PLC, the chipmaker behind Bluetooth hands-free technology, said Thursday it would pass on a buyout bid from outsize competitor Microchip Technology Inc. after the proposed purchase price failed to wow the $2 billion company.
Vivendi SA on Thursday invited Spain's Telefonica SA to the table for exclusive talks over the sale of its Brazilian operations, enticed by a sweetened offer worth €7.45 billion ($9.8 billion) that bested rival bidder Telecom Italia SpA.
A KKR & Co. LP distressed shipping joint venture is taking nine vessels off the hands of a number of kommanditgesellschaft, or KG shipping funds, for $216 million as the industry that once financed a third of the world's container ships continues to dissolve.
Dollar General Corp. said Thursday that it remained “firmly committed” to its $8.9 billion bid for Family Dollar Stores Inc. after the target flagged antitrust issues with the proposal and said it instead would pursue a less lucrative tie-up with a third discount retailer.
Shareholders in meat processor Hillshire Brands Co. have signed off its $8.55 billion sale to rival Tyson Foods Inc., the companies said Thursday, paving the way for the tie-up a day after announcing concessions to quiet antitrust concerns.
If challenges to full credit bids from distressed lenders gain traction, we could see an even greater amount of balance sheet restructurings taking place out of court. We have already seen a dramatic downturn in the number of corporate filings around the nation, says Jay Sakalo of Bilzin Sumberg Baena Price & Axelrod LLP.
There is a record amount of capital chasing new real estate deals across the country. As such, many of our institutional clients have a greater appetite for risk and are willing to commit to deals earlier or at less traditional entry points, says Richard Giusto, co-managing shareholder of Greenberg Traurig LLP's Miami office.
Several high profile antitrust professors have come out in support of Comcast Corp.'s $45 billion proposed merger with Time Warner Cable Inc., telling the Federal Communications Commission in comments filed Monday that the two companies are not significant direct competitors for either cable services or broadband Internet.
Burger King's preemptive stance against claims that its proposed tie-up with Tim Hortons Inc. is an attempt to skirt U.S. taxes highlights how domestic companies considering foreign acquisitions must fight anti-inversion critics regardless of their business motives.
Glencore and Chinese metals producer Jinchuan Group Ltd. are reportedly at the front of the pack of potential buyers for BHP Billiton's Australian Nickel West division, which could be worth up to $16 billion, while Otter Products LLC is exploring a sale to interested private equity players that could potentially peg its value at more than $2.5 billion, including debt.
A handful of major transactions have kept deal makers busy in recent weeks despite the usual August lull, reinforcing the strong deal-making prospects that have propped up the market all year. As the clock ticks down to Labor Day, Law360 reviews five of the summer's biggest M&A plays.
Tyson Foods Inc. agreed Wednesday to sell off its Heinold Hog Markets sow-purchasing division, settling an antitrust suit filed the same day by the U.S. Department of Justice over Tyson’s $8.55 billion bid to acquire Hillshire Brands Co.
Beauty products company Elizabeth Arden Inc. said Wednesday that it is considering a tender offer from Rhône Capital LLC that would leave the private equity firm with a 20 percent stake in the company.
While the proposed Burger King and Tim Hortons tie-up is likely to have minimal effect on existing franchisee governance, some attorneys predict the deal will boost resources available to owners and give U.S.-side Burger King franchisees an opening to lobby for Tim Hortons-related development opportunities.
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.
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.
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.
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.
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.
In this short video — the latest installment from the "Book of Jargon" — Latham & Watkins LLP partner Rafal Gawlowski defines "accelerated share repurchase."
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.
The rhetoric used by shareholder activists on all sides should be taken with a large pinch of salt — most issues described as momentous generally are not — and these symbolic battles may divert attention from more meaningful reform, say professors at the New York University School of Law and the University of Pennsylvania Law School.
"If you follow the philosophy of saving everything you're just multiplying exponentially the costs and risks of litigation and investigations," says Robert Owen, partner in charge of Sutherland Asbill & Brennan LLP's New York office and president of the Electronic Discovery Institute.
In theory, companies have a number of ways to challenge books-and-records demands, but a progression of Delaware cases — including a Wal-Mart shareholder suit — has shown that such demands have increasingly generated expensive and time-consuming document production exercises and provided an avenue to trawl for documents that could facilitate derivative litigation, say Daniel Wolf and Matthew Solum of Kirkland & Ellis LLP.