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 Obama administration has claimed a few high-profile victories in the month since it rolled out a series of new rules meant to squelch the rising appeal of controversial tax-inversion deals, but while tougher restrictions have jostled the marketplace, several transactions remain on the table.
The American Antitrust Institute once again urged a Massachusetts judge on Tuesday to reject the state attorney general’s agreement allowing Partners Healthcare System to acquire two health systems, arguing that an amended consent decree still falls short of showing why the acquisitions are in the public interest.
While it is exciting to take a company public, especially in an MLP structure, management may decide to wait with the goal of greater deferred gain. The poker playing can be even more difficult when commodity prices and energy legislation are as volatile as they have been lately, says Hillary Holmes, a partner with Baker Botts LLP specializing in capital markets transactions for master limited partnerships and corporations in the energy industry.
Japanese telecommunications giant SoftBank Corp. on Wednesday continued its push to become the largest Internet company in Asia by leading a $100 million investment round in Indonesian online marketplace PT Tokopedia.
Valuation gaps between buyers and sellers have become much more common. In order to keep deals from falling apart, we have had to develop some very esoteric earnout and other valuation adjustment mechanisms, says James Walker IV, a shareholder with Carlton Fields Jorden Burt who represents companies and investment funds in capital-raising transactions.
Private equity-backed public relations services provider Cision will acquire U.K.-based media data provider Gorkana Group Ltd. — its third big deal of the year — with advice from Latham & Watkins LLP, Cision said Wednesday.
CVC Capital Partners has agreed to buy Finnish insulation supplier Paroc Group for €700 million ($890 million), aiming to fund the growth-minded company's penetration across Europe, it said Wednesday.
BGC Partners Inc. said Wednesday it has launched a $675 million hostile takeover bid on for rival brokerage and trade services provider GFI Group Inc. after talks between the companies failed to result in a deal.
Mylan Inc. and Abbott Laboratories said Wednesday that new limitations imposed by the Obama administration on tax-motivated M&A wouldn't derail their planned $5.3 billion inversion deal, though they did modify the terms of the transaction.
Energy Future Holdings Corp. and various creditors continued their battle Tuesday over the bankrupt power giant's proposal to auction its stake in Oncor Electric Delivery Co. LLC, with a board member of an EFH subsidiary touting the bidding process as the best way to advance the Chapter 11 case.
The Eleventh Circuit asked Georgia’s high court on Tuesday for help resolving a real estate trust’s appeal claiming XL Specialty Insurance Co. must pay a $4.9 million shareholder-suit settlement, including a key question involving “consent to settle” clauses in insurance agreements.
Actavis is one of multiple companies interested in buying Omega Pharma, which would be worth up to $5.1 billion, while Siemens is on the verge of divesting its hearing-aid business in a deal that could net the German engineering titan upwards of $2.6 billion.
Mergers and acquisitions activity is expected to continue surging through the end of the year and into the first quarter of 2015, despite hiccups in the markets in recent weeks after growth in M&A activity led by the Asia-Pacific region, according to a report released Monday.
Real estate investment trust Medical Properties Trust Inc. said Monday it is paying €705 million ($897 million) to buy and lease back 40 real estate assets from German post-acute care provider Median Kliniken Group, part of a deal in which the REIT and Waterland Private Equity will acquire Median.
Boston-based private equity firm Berkshire Partners said on Tuesday that it has agreed to acquire data protection and record-keeping service provider Access Information Management for an undisclosed amount in a deal advised on by Ropes & Gray LLP.
With oil prices plunging to levels not seen in years, experts say dealmaking in the energy sector could slow amid disputes over the value of oil assets, and companies may be forced to get more creative with financing for acquisitions and development projects in order to sidestep nervous lenders.
BAE Systems PLC will pay $232.5 million to acquire cloud-based cybersecurity company Perimeter Internetworking Corp., known as SilverSky, expanding BAE's presence in the U.S. commercial cybersecurity market, the company said Tuesday.
After scrapping a $55 billion merger attempt with British rival Shire PLC in the wake of a U.S. government crackdown on inversion deals, U.S. drugmaker AbbVie Inc. late Monday unveiled plans for a $5 billion stock buyback and 17 percent dividend increase to boost shareholder value.
Recovering capital markets and booming M&A activity continue to lure companies to a dual-track process that lets them consider an initial public offering while they explore an outright sale. But while there's plenty of upside attached to either outcome, a company and its advisers have to play their cards the right way to cash in.
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.
Before the Delaware Supreme Court’s landmark Gheewalla ruling, application of the business judgment rule to actions by directors of insolvent companies had been controversial, given the concern that directors might be inclined to engage in high-risk strategies while creditors bear the risk of failure. A recent Chancery Court decision highlights this concern, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.