Southern Co. subsidiary Southern Power will pay First Solar Inc. $508 million to acquire a 150-megawatt solar facility that will generate enough electricity to power more than 60,000 homes once it is completed, the company said Thursday.
Phoebe Putney Health System Inc. has asked the Federal Trade Commission to put a hold on its efforts to force the Georgia hospital to divest a recently acquired unit after state officials indicated that certificate of need requirements might thwart the sale.
Top proxy adviser Institutional Shareholder Services Inc. backpedaled on its recommendation that shareholders in Chiquita Brands International Inc. support a $500 million-plus inversion with Ireland's Fyffes PLC, its second about-face on the deal this week.
Kirkland & Ellis LLP has recruited a corporate partner from Weil Gotshal & Manges LLP to bolster the firm's growing private equity and mergers and acquisitions business at its New York office, the firm announced Tuesday.
Defense giant Raytheon Co. intends to acquire an unspecified private defense company in a deal worth around $400 million, it said Thursday as it unveiled its third-quarter financial results, while announcing improved contract bookings that it said made it optimistic regarding the next several years.
Spirit Pub Co. PLC said Thursday it has rejected a buyout bid from Magners Cider maker C&C Group PLC, opting instead to stick with a £723 million ($1.16 billion) deal to join forces with brewery and pub operator Greene King PLC.
Malaysia Airport Holdings Bhd. said Thursday that it plans to acquire the 40 percent stake in Turkey's Istanbul Sabiha Gokcen Airport that it doesn't already own for around €285 million ($360.4 million), solidifying it as an airport industry giant.
Chinese online retailer Koudai Gouwu raised $350 million in a Series C funding round, securing the biggest share of the investment, $145 million, from mobile provider Tencent Holdings Ltd., according to a statement on Koudai's microblog.
Brookfield Asset Management Inc. said Thursday that it has offered to buy the remaining 30 percent of Brookfield Residential Properties Inc. that it doesn't own for $846.4 million in cash, offering $23 per share for 36.8 million shares.
Institutional investors ask probing questions and expect specific answers. There is an art to ensuring that these disclosures do not prejudice a company’s relationship with a particular customer or business partner, says Seth Joseph, a shareholder with Carlton Fields Jorden Burt PA and former general counsel of both public and pre-IPO tech companies.
The Brazilian suitors seeking to upend a $500 million-plus inversion between Chiquita Brands International Inc. and Ireland's Fyffes PLC again sweetened their own all-cash takeover offer for Chiquita on Thursday, a last-ditch effort to win shareholders' support before a Friday vote.
Dialysis giant DaVita HealthCare Partners Inc. has finalized a record deal in which it will pay more than $400 million and unwind 11 joint ventures to resolve claims by a whistleblower that it provided kickbacks to kidney doctors, Phillips & Cohen LLP, which brought the suit, said Wednesday.
Arden Group Inc. on Wednesday urged a California judge to toss a shareholder derivative suit alleging TPG Capital LP's $394 million purchase of Arden's luxury supermarket chain Gelson's stiffed shareholders to enrich Arden's board, arguing boardmembers got sole-bidder TPG to pay over market value.
Hooper Lundy & Bookman PC has lured a longtime Greenberg Traurig attorney to its Washington, D.C., office to guide health care providers through deals and lawsuits that implicate the False Claims Act, Anti-Kickback Statute and Stark Law, the firm announced Wednesday.
With so much M&A news this week, you may not have seen some announced deals involving several law firms like WilmerHale, Greenberg Traurig and others. Here, Law360 takes a look at the ones you might have missed.
Heineken NV's chief financial officer said the company will be an “active player” in the beer industry's ongoing global consolidation, following the brewer's recent rejection of SABMiller PLC’s takeover attempt and Heineken's Wednesday report of disappointing third-quarter earnings.
A group of trade creditors of bankrupt Associated Wholesalers Inc. blasted the cooperative food distributor's proposed sale Wednesday, two days before the auction is scheduled to begin, arguing the court should reject it unless bidding brings in at least $25 million more for the estate.
Apollo Global Management LLC is looking to raise between $2 billion and $3 billion for a second natural resources private equity fund, while Advent International Corp. and Avista Capital Partners are nearing a deal to buy Kremers Urban Pharmaceuticals Inc. from Belgium's UCB SA for as much as $2 billion.
As the stock market struggles to find even ground, private equity investors in search of good deals may be in luck as trouble in the initial public offering market denies companies one way of raising cash and forces deal prices to fall.
The Federal Communications Commission on Wednesday slowed down its review of both Comcast Corp.’s merger with Time Warner Cable Inc. and AT&T Inc.’s potential purchase of DirecTV, saying more time is needed to resolve disputes over who has access to contracts with content providers.
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.
The Nevada federal court's recent ruling in Agincourt Gaming LLC v. Zynga Inc. is an important reminder that a nonparty wanting to challenge a civil subpoena should consider carefully the appropriate jurisdiction in which to file a motion to quash under recently enacted Rule 45, say Steven Luxton and Brad Nes of Morgan Lewis & Bockius LLP.
Newly proposed amendments to Canada's takeover bid legislation would address long-standing concerns that the current regulatory regime tilts the playing field too far in favor of hostile bidders, says Ralph Shay of Dentons Canada LLP.
Relying on and further strengthening the import of Boilermakers Local 154 Retirement Fund v. Chevron Corp., a recent decision in a shareholder suit involving Chemed Corp. shows the power of boards to have their say as to where intracorporate litigation will take place and who will pay for it, says Celia Taylor of Sturm College of Law at the University of Denver.
It is common for investment funds and other entities, whether in the form of a limited liability company or limited partnership, to have boards of advisers or otherwise provide for consultation with nonmanaging equity owners. The partnership or operating agreement should be explicit in granting authority, if any, or disclaiming authority, as is more customary, says Sean Bryan of Akin Gump Strauss Hauer & Feld LLP.
The costs of defending securities class actions continue to increase, and the root cause is the convergence of two related factors — the prevailing view that securities class actions are “bet the company” cases, and the consequent reflexive hiring of BigLaw firms, says Douglas Greene of Lane Powell PC.
Many legal briefs are written in impenetrable jargon and begin with an introduction telling the court what it already knows, using words that stem from the 18th century, such as “hereinafter.” Instead, we should approach briefs the way novelists approach their writing, says Michael Rubin of McGlinchey Stafford PLLC.
After the news this past July that German hospital operator Artemed had signed a framework agreement to establish the first wholly foreign-owned hospital in the Shanghai Pilot Free Trade Zone, foreign investors anxious for an opening into China’s tightly regulated health care sector may have further reason for optimism, say attorneys with Covington & Burling LLP.
With recent examples in mind, there is no clear indication that offensive use of the Foreign Corrupt Practices Act is actually a new frontier as opposed to another somewhat underhanded effort at securing a competitive advantage, say Kedar Bhatia and Shamoil Shipchandler of Bracewell & Giuliani LLP.
The U.S. Department of Commerce's Bureau of Economic Analysis — a little-known U.S. government statistical reporting bureau — has revived a dormant regulation mandating that U.S. entities submit a report when they take on, or are created as a result of, qualifying new foreign direct investment in the United States, say Scott Flicker and Dana Stepnowsky of Paul Hastings LLP.