Mergers & Acquisitions

  • April 17, 2015

    Coke Offers $400M For Chinese Protein Drink Co.

    Coca-Cola Co. on Friday announced that its Chinese arm has made a $400 million cash offer for plant-based protein drink company Xiamen Culiangwang Beverage Technology Co. in a bid to grow the company’s business in China.

  • April 17, 2015

    ThyssenKrupp Dumps Metals Business In Lindsay Goldberg Deal

    German industrial conglomerate ThyssenKrupp AG has agreed to sell its VDM Metals Group to the European affiliate of private equity buyout firm Lindsay Goldberg, taking a €100 million ($108.1 million) write-down in the business, the company said Friday.

  • April 17, 2015

    Faruqi, Robbins Asked To Lead Suit Over $4.8B Exelis Buy

    Faruqi & Faruqi LLP and Robbins Arroyo LLP will lead shareholders of defense technology company Exelis Inc. in their suit against Harris Corp. over a planned acquisition they say is worth more than the $4.75 billion offered, provided a judge approves Friday's request for the firms to be co-lead counsel.

  • April 17, 2015

    Goodwin Procter Nabs Ex-King & Wood PE Partner In London

    Goodwin Procter LLP has recruited a partner from King & Wood Mallesons experienced in middle-market private equity and corporate mergers and acquisitions to bolster its growing London private equity practice, the firm said Thursday.

  • April 17, 2015

    Deals Rumor Mill: Cirque du Soleil, Vessel, Deutsche Bank

    A TPG Capital Management-led consortium is nearing a deal to buy a majority stake in Cirque du Soleil Inc. valuing the theatrical circus company at about $1.5 billion, while online video service and hopeful YouTube rival Vessel has closed its second fundraising round after raising $57.5 million.

  • April 17, 2015

    China’s Agrees To Buy $1.6B Stake In Rival

    Tencent Holdings Ltd.-backed Chinese online marketplace Inc. has agreed to buy a 43.2 percent stake in the company that owns the rights to rival for about $1.6 billion, in a move meant to cut costs for both sides while allowing them to continue running their respective brands.

  • April 17, 2015

    McDermott Can't Get Antioch Malpractice Suit Going Again

    An Ohio federal judge refused Friday to restart a paused malpractice suit against McDermott Will & Emery LLP over the firm's advice to former scrapbooking giant Antioch Co. LLC on employee stock payouts, despite the firm's insistence that no settlement is possible and that a Sixth Circuit ruling could add a year to the litigation.

  • April 17, 2015

    Dish, Others Tell FCC To Nix Comcast-Time Warner Merger

    Dish Network Corp. and dozens of others urged the Federal Communications Commission chairman to block Comcast Corp.’s proposed $45 billion acquisition of rival Time Warner Cable Inc., arguing in an open letter on Friday that the merger would harm competition even if Comcast promises to follow “net neutrality” rules.

  • April 17, 2015

    Retailer Simply Fashion Hits Ch. 11

    Retailer Simply Fashion Ltd. filed for bankruptcy Thursday, telling a Florida court that its 247 stores were hit hard by the recession, after it got its start buying assets from other bankrupt retailers.

  • April 17, 2015

    Multimedia Games Shareholders Settle Suit Over $1.2B Buyout

    Shareholders who sued over casino game maker Multimedia Games Holding Co. Inc.’s $1.2 billion merger with a gaming services company last year have settled with the companies after more information about the deal was released.

  • April 17, 2015

    Hony Capital Unloads $1.3B In Shares Of CSPC Pharma

    Chinese private equity firm Hony Capital has sold its shares in Chinese drugmaker CSPC Pharmaceutical Group Ltd. for HK$9.78 billion ($1.26 billion), the company said in a regulatory filing on Friday.

  • April 17, 2015

    Law Duo Guide Calloway's $1.2B Deal With Wal-Mart Developer

    With guidance from Osler Hoskin & Harcourt LLP and Torys LLP, Canada-based Calloway Real Estate Investment Trust announced late Thursday that it had struck a $1.16 billion deal to purchase a Davies Ward Phillips & Vineberg LLP-advised retail property development platform from a top developer of Wal-Mart Stores Inc.-branded stores.

  • April 17, 2015

    Rosneft, Seadrill Unit Again Delay Reported $1B Deal

    A subsidiary of offshore rig company Seadrill Ltd. said Friday that it will again extend the closing date of a tentative billion-dollar deal with Russian state-owned oil giant OAO Rosneft amid continuing sanctions against both Russia and the company.

  • April 17, 2015

    Taxation With Representation: Norton Rose Fulbright, Skadden

    In this week's Taxation With Representation, Skadden helps Builders FirstSource Inc. snatch up a competitor in a $1.63 billion deal, Asia Alternatives closes its largest fundraising, and Norton Rose Fulbright helps oil refiner Delek U.S. Holdings Inc. expand its southern and western holdings.

  • April 16, 2015

    Kirkland Steers Lovell Minnick's $100M Finance Co. Investment

    Led by Kirkland & Ellis LLP, private equity firm Lovell Minnick Partners LLC said Wednesday it will invest $100 million in LSQ Funding Group to help the accounts receivable finance company capture more small-business customers through better technology.

  • April 16, 2015

    ProMedica Urges Justices To Review Nixed Hospital Merger

    ProMedica Health System Inc. is pressing the U.S. Supreme Court to review its nixed merger with a small Ohio hospital, arguing that justices will miss a rare opportunity to review vital disputes in antitrust law if they decline the case.

  • April 16, 2015

    Deals Rumor Mill: Procter & Gamble, Hony Capital, Stemcor

    Henkel, Revlon and Coty may make bids for parts of Procter & Gamble's beauty business, while Chinese private equity firm Hony Capital hopes to raise up to $1.26 billion by selling its remaining shares in CSPC Pharmaceutical.

  • April 16, 2015

    Ex-Revel Utility Maligns Straub's Proposed Power Plans

    The energy company locked in a literal power struggle with the new owner of the shuttered Revel Atlantic City in New Jersey released a statement Thursday undercutting several options that have been floated to restore the casino hotel's electricity following a weeklong blackout.

  • April 16, 2015

    Natrol Buyer Tells Judge It Resolved Row With Ex-Owners

    A Delaware bankruptcy judge was told Thursday that Natrol LLC, the company formed when Aurobindo Pharma USA Inc. bought Natrol Inc., settled its dispute with the supplement maker’s former owners connected to an alleged "sham" contract, but the precise details of the deal were not revealed to the court.

  • April 16, 2015

    Order To Disclose EY, Dentons Tax Docs Buffeted At 2nd Circ.

    Second Circuit judges had doubts Thursday about a lower court’s ruling that merger-related tax advice prepared by Ernst & Young and Dentons for German billionaire Georg F.W. Schaeffler was not privileged, questioning an IRS attorney who said the public's right to know should carry the day in the disclosure fight.

Expert Analysis

  • Virginia's ‘Rocket Docket' Continues To Roar

    Robert M. Tata

    The Eastern District of Virginia ― known as the “Rocket Docket” ― had the fastest trial docket in the country in 2014, for the seventh year in a row. The median time interval to trial was 12.5 months. That’s compared to a nationwide average of 24.9 months to try a case, says Robert Tata, managing partner of Hunton & Williams LLP's Norfolk, Virginia, office.

  • Appraisal Rights Waivers After Halpin V. Riverstone

    Brian E. Krob

    The ability of common stockholders in Delaware corporations to prospectively waive appraisal rights has been taken for granted. However, Halpin v. Riverstone National Inc., a case decided in the Delaware Court of Chancery, questions the effectiveness of such a waiver, say Brian Krob and Kimberly Rovtar of Nixon Peabody LLP.

  • 2 Routes To Hourly Rates For Lawyers

    Gerald G. Knapton

    If we were developing a system to determine legal fees from a clean slate, we would price our professional services according to quality, efficiency and results — tasks and team would be agreed upon. Instead, we have an hourly system that discourages tight management, can lead to padded bills and includes time for work that may not have been necessary, says Gerald Knapton of Ropers Majeski Kohn & Bentley PC.

  • St. Luke's: A Major Step Back In Merger Efficiencies

    David Balto

    The Ninth Circuit’s recent St. Luke’s decision involving the vertical acquisition of a provider group by a health system in Idaho seems to severely restrict the efficiencies defense in a fashion inconsistent with the goals of antitrust law and sound enforcement policy, say David Balto and James Kovacs of the Law Offices of David Balto.

  • The Curse Of Multijurisdiction Litigation

    Kevin M. LaCroix

    One of the more distinct litigation phenomena in recent years has been the rise of multijurisdiction litigation, particularly in connection with merger objection litigation. Recent developments in derivative litigation involving Wal-Mart and the scandal surrounding its Mexican operations show that multijurisdiction litigation is not just a problem for defendants — it can also be a serious problem for competing sets of plaintiffs la... (continued)

  • How To Weather Media Inquiries In High-Profile Cases

    Jolie Balido

    Avoid using “no comment” in response to a question or statement from reporters. Some reporters, particularly TV news reporters, are simply trying to elicit a reaction for a quick visual and aren’t particularly concerned with the actual answer, says Jolie Balido, president of marketing communications firm Roar Media.

  • Practical D&O Insurance Considerations For PE Firms

    Ari Berman

    Private equity funds should carefully examine the definition of “claim” in their directors and officers policies to ensure that it extends to subpoenas and investigative orders issued by government agencies. Meanwhile, the portfolio company’s D&O insurance plays a slightly different role in the various stages of the private equity firm’s investment in the company, say Ari Berman and Sarah Mitchell of Vinson & Elkins LLP.

  • Taking Legal Analytics To The Next Level

    Nathalie Hofman

    Sixty-eight percent of legal technology professionals expect their organizations’ investments in legal data analytics to increase over the next two years. That is just one of the results of a recent survey of more than 125 legal professionals, say Laurie Fischer and Nathalie Hofman of Huron Legal.

  • How US Sanctions Can Affect Cos. With Russian Investors

    Arman Pahlavan

    Many Russian investors presently hold shares in U.S. companies that may be acquired or go public, and there are concerns about violating U.S. sanctions when distributing such assets to Russian investors. These portfolio companies now face questions as to what risks they may face in the event of liquidity, say attorneys with Perkins Coie LLP.

  • 4 Crowdfunding Tips From The Trenches

    Joe Castelluccio

    While crowdfunding can be an exciting opportunity for some companies, broader access to capital in a new and evolving process also comes with greater potential for missteps and mistakes. Be judicious in who you allow to partner with you — sometimes the money someone invests is not worth the headaches that come along, say Andrew Ray and Joe Castelluccio of Morgan Lewis & Bockius LLP.