Mergers & Acquisitions RSS

  • April 18, 2014

    Atos Says Bid For Steria Still Good Despite $1B Sopra Deal

    French global information technology giant Atos SE confirmed Thursday it had been in discussions with Groupe Steria SCA in the weeks and months before Steria agreed to a merger with Sopra Group SA and said its all-cash offer for Steria was still good.

  • April 18, 2014

    Calpine Nets $1.57B In Sale Of 6 Power Plants

    Calpine Corp. is selling six southeast U.S. power plants to LS Power for $1.57 billion, the company said Friday, in a move the New Jersey-headquartered power company said will help it focus more on its core regions.

  • April 18, 2014

    $9.5B Of Venture Capital Injected In Q1, PwC Says

    Venture capitalists invested $9.5 billion in 951 deals in the first quarter of 2014 — the highest quarterly total in over a decade — with software and biotechnology companies leading the pack as the most-attractive venture capital investments, according to a report released Friday by PricewaterhouseCoopers LLP.

  • April 18, 2014

    Pulling Up Stakes: Proskauer, Squire Sanders, MoFo

    In this week’s roundup of people on the move in M&A, private equity and project finance, Proskauer Rose snagged a prominent hedge fund duo and Squire Sanders added an M&A pro in New York, while Morriston & Foerster expanded its M&A and private equity team in Singapore and Ballard Spahr bolstered its San Diego office with a pair of bankruptcy and transactional finance aces.

  • April 18, 2014

    Rising Star: Proskauer Rose's Daniel Ganitsky

    Ambition, competence, and a talent for finding deals and keeping clients got Proskauer Rose LLP corporate partner Daniel Ganitsky over $20 billion in mergers and acquisitions work in 2013 and a spot on Law360’s Rising Stars list for 2014.

  • April 18, 2014

    Bankrupt Ashley Stewart Plans $18M Sale To Clearlake Unit

    Plus-sized women’s retailer Ashley Stewart Holdings Inc. on Wednesday canceled a scheduled Chapter 11 auction and said it would move forward with an $18 million stalking horse bid from a unit of private equity firm Clearlake Capital Group LP.

  • April 18, 2014

    Vimpelcom To Sell $2.6B Orascom Stake To End Tax Case

    Russian communications company Vimpelcom Ltd. will sell a 51 percent stake in Orascom Telecom Algerie SpA for $2.6 billion to Algeria's national investment fund, ending a tax dispute between the companies and the Algerian government, Vimpelcom said Friday.

  • April 18, 2014

    Defunct Auto Parts Co. Says Parent's Suit Belongs In Canada

    Bankrupt Canadian car part manufacturer Fenwick Automotive Products Ltd. told a California federal judge on Thursday that a securities suit lodged by its parent company, Motorcar Parts of America Inc., was just an inflated contractual suit spurred by “buyer's remorse" and that it belongs in a Canadian court.

  • April 18, 2014

    FTC Wants Closer Look At $25B Actavis-Forest Labs Deal

    The Federal Trade Commission is seeking more details on generic-drug maker Actavis PLC's proposed $25 billion acquisition of Forest Laboratories Inc., the companies said Thursday, adding scrutiny on a deal that is already under assault in New York court.

  • April 18, 2014

    Deals Rumor Mill: Sprint, Virtu Financial, Apollo

    A prospective merger between Sprint and T-Mobile could prompt regulators to reshape rules in the leadup to a big-ticket airwave auction set for 2015, while Virtu Financial yanked plans for an April IPO amid blowback sparked by a new book that criticizes high-frequency trading.

  • April 18, 2014

    Taxation With Representation: Tax Counsel On The Deal

    In this week's Taxation With Representation, Cleary Gottlieb works a $1 billion buy for Warburg Pincus and Gibson Dunn helps MGM form a new joint venture.

  • April 18, 2014

    ChinaEdu Shareholders Approve $30M Subsidiary Merger

    Shareholders of ChinaEdu Corp. on Friday voted to approve a deal between two of the online educational services providers' subsidiaries, in which ChinaEdu Holdings Ltd. acquired ChinaEdu Merger Sub Ltd. for a total purchase price of about $29.7 million.

  • April 18, 2014

    AMR Can't Terminate Retiree Benefits, Judge Says

    The bankruptcy judge who oversaw AMR Corp.’s Chapter 11 case on Friday rejected the airline’s contention that it has the right to dump the cost of pension benefits onto retirees themselves, saying the benefits are protected in relevant documents.

  • April 18, 2014

    Class Ring Makers Drop $500M Merger As FTC Turns Up Heat

    Jewelry and yearbook seller Jostens Inc. announced Thursday that it will abandon its bid to acquire competitor American Achievement Corp. for $500 million after the Federal Trade Commission moved to block the deal over concerns that it would hike prices on class rings.

  • April 18, 2014

    CVR, Icahn Want Wachtell Suit Stayed Amid Malpractice Case

    CVR Energy Inc. and its owner Carl Icahn have asked a New York state judge to stay a retaliatory case brought by Wachtell Lipton Rosen & Katz while their federal malpractice suit against the law firm plays out, arguing the malpractice suit will address the same claims.

  • April 18, 2014

    Athabasca Reaps $1.2B In Oil Sands Project Exit

    Canadian oil company Athabasca Oil Corp. said Thursday it's selling its stake in an Alberta oil sands project to joint venture partner Brion Energy, a unit of Chinese oil producer PetroChina Co. Ltd., for CA$1.32 billion ($1.2 billion), severing the last link between the two companies.

  • April 18, 2014

    Live Nation Breaks Up Japan JV Amid Global Expansion Push

    Global ticketing giant Live Nation Entertainment Inc. rounded out its stake in its Japanese unit, it said late Thursday, in a deal that lifts ownership from a Japanese competitor and gives the California company full strategic influence as it pursues a global expansion plan.

  • April 18, 2014

    Telus Puts Up $350M In Latest Mobilicity Merger Attempt

    Canada's Telus Corp. is making another run at struggling wireless provider Mobilicity, this time in a $350 million deal unveiled late Thursday that the companies insist will not roil regulators that have previously halted two of the companies' tie-up bids.

  • April 17, 2014

    Union Says Quantum's $54M Sale Must Respect Contracts

    An employee union at Quantum Foods LLC urged a Delaware bankruptcy judge Thursday to delay consideration of the meatpacker's planned $54 million sale to a unit of Oaktree Capital Management LP, saying the proposed deal violates existing labor contracts.

  • April 17, 2014

    Vintage Capital Axes $2.3B Buyout Bid For Aaron’s

    Vintage Capital Management LLC on Thursday withdrew its buyout bid for Aaron’s Inc. that valued the company at $2.3 billion, slamming the struggling rent-to-own retailer for its recent $700 million acquisition of a retail credit financing firm and confirming plans for a proxy contest.

Expert Analysis

  • How To Incentivize Management Across The Pond

    James Ross

    As the buyout market in the United Kingdom heats up, having a good understanding of the nuances of the tax regime and keeping on top of developments in market practice are key to ensuring U.S. private equity investors appear attractive in competitive processes. Remember, any sophisticated adviser will warn management against accepting U.S.-style stock options, and the U.K. market has developed a number of more tax-efficient incentives, which must be considered, say James Ross and Eleanor West of McDermott Will & Emery UK LLP.

  • Activist Investors — Brace Yourselves For 13D Changes

    Perrie Michael Weiner

    The U.S. Securities and Exchange Commission is turning more aggressive attention toward shareholder activists, and the issue of revising the Schedule 13D timetable is alive once again, largely due both to a recent media report and its confluence with another event — the news that such a measure has the support of perhaps the preeminent juridical voice in American corporate law, Delaware Supreme Court Chief Justice Leo E. Strine Jr., say Perrie Michael Weiner and Patrick Hunnius of DLA Piper.

  • The Future Of Law Firm PR: The Good, Bad And Ugly

    Paul Webb

    There has been a dramatic change in how public relations professionals interact with the news media to promote or protect a law firm’s brand and reputation. But content is queen and has a bright future in law firm PR — it all begins with a plan that should include goals, performance indicators and a system of assessment, say Paul Webb, director of marketing at Young Conaway Stargatt & Taylor LLP, and Kathy O'Brien, senior vice president at Jaffe PR.

  • FTC Continues To Target Pharmaceutical Mergers

    Bruce Sokler

    The Akorn Inc.-Hi-Tech Pharmacal Co. Inc. acquisition shows that the Federal Trade Commission is unlikely to ease up soon on what has essentially become a bright-line rule in antitrust policy — transactions resulting in three to two and sometimes even four to three reductions in the number of competitors, where there would be no timely entry, face difficult regulatory hurdles, say Bruce Sokler and Helen Kim of Mintz Levin Cohn Ferris Glovsky and Popeo PC.

  • Fog May Be Lifting Around Finders

    Kenneth G.M. Mason

    The regulatory world of when and whether a U.S. person can raise capital and receive transaction-based compensation without registering as a broker-dealer has been murky. But the U.S. Securities and Exchange Commission’s aggressive stance on when finders have to register as broker-dealers has recently encountered judicial disavowal by courts, which has helped clarify certain compensation issues, say Kenneth Mason and Sharon Obialo of Kaye Scholer LLP.

  • Beware 'Jewel' Risks In Lateral Partner Hiring

    Pamela Phillips

    Jewel litigation has been filed after every major law firm bankruptcy in the past 10 years, including Lyon & Lyon, Brobeck, Coudert, Thelen, Heller and Howrey. These lawsuits have produced years of litigation, with similar suits expected in the Dewey bankruptcy. Despite the legal uncertainties surrounding such claims, hiring firms can take steps now to minimize their Jewel risk for any lateral hire, say attorneys with Arnold & Porter LLP.

  • Heartbleed Rains On The Legal Cloud Parade

    David Houlihan

    While the actual breaches are unknown, Heartbleed has the potential to expose all of a lawyer's files stored or transmitted online. The bug raises professional responsibility questions and offers confirmation of the greatest anxieties that the legal industry has about online practice. In fact, the timing is poor for many legal tech providers, following a general industry warming to cloud offerings, says David Houlihan of Blue Hill Research Inc.

  • A New Approach To Classified Corporate Boards

    Philip Richter

    As institutional investors and proxy advisory firms push forward with the declassification movement, corporate governance constituencies might consider developing a modified classified board structure that could result in preserving the structure’s value-enhancing benefits while addressing shareholders’ concerns about board accountability, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Not 'Fully Protected' — What’s A Director To Do?

    Peter Allan Atkins

    A footnote in the Delaware Court of Chancery’s Rural Metro decision starkly spotlights the visceral trouble spot in the enhanced-scrutiny paradigm — that even the conscientious director who does everything right may still be branded as breaching fiduciary duty. This is particularly troubling in the context of a statutory promise that directors will be “fully protected” if they conscientiously comply, says Peter Allan Atkins of Skadden Arps Slate Meagher & Flom LLP.

  • Keep Your Audience From Checking Email: 5 Legal Talk Tips

    Michael H. Rubin

    Why do the majority of speakers get polite claps at the end of their talks while a few select others receive rousing applause? Having given more than 375 presentations to legal groups, bar associations, Fortune 500 companies and corporate gatherings, I’ve learned a few things about what not to do. Remember, great speakers don’t tell “war stories.” They don’t even give examples from their own practice, says Michael Rubin of McGlinchey Stafford PLLC.