Mergers & Acquisitions

  • August 29, 2014

    Carlyle Group To Pay $115M To Settle PE Collusion Row

    Carlyle Group LP has agreed to pay about $115 million to settle a long-running proposed class action brought against it and several other private equity firms for allegedly teaming up to depress prices in leveraged buyouts leading up to the financial crisis, according to media reports on Friday.

  • August 29, 2014

    Al Jazeera, Gore Duel Over Who's Flouting Chancery Rules

    Al Gore and his Current TV co-founder's suit over Al Jazeera's purchase of the failed network saw a fight about court filing redactions intensify late Thursday, with both sides accusing each other of flouting the Delaware Chancery Court’s rules on confidentiality.

  • August 29, 2014

    GFI Shareholder Suit Says CME Takeover Undervalues Co.

    Brokerage and trade services provider GFI Group Inc. and futures exchange operator CME Group Inc. were hit with a proposed shareholder class action in a New York court Friday to block CME’s $580 million takeover of GFI, alleging the deal undervalues the company.

  • August 29, 2014

    Taxation With Representation: Gibson Dunn, Cravath, Wachtell

    In this week's Taxation With Representation, Wachtell helps Tim Hortons combine with Burger King into a fast-food juggernaut, while Cravath guides California biotech company InterMune on its $8.4 billion sale to Roche.

  • August 29, 2014

    Woolworths To Raise $937M To Repay David Jones Financing

    South Africa's Woolworths Holdings Ltd. said Friday it plans to raise 10 billion rand ($937 million) through a renounceable rights offer to help repay financing for its AU$2.15 billion ($2 billion) buyout of Australian clothing retailer David Jones Ltd.

  • August 29, 2014

    Infineon's $3B Buy Of Chipmaker Sparks Shareholder Suits

    Shareholders of California-based chipmaker International Rectifier Corp. this week filed two putative class actions in California court over its proposed $3 billion acquisition by the German semiconductor giant Infineon Technologies AG, saying the transaction undervalues International Rectifier.

  • August 29, 2014

    Dalian Forms $814M JV For Edge In China's E-Commerce Field

    Real estate, entertainment and retail conglomerate Dalian Wanda Group has signed a deal with Baidu and Tencent, two of the largest Web services companies in China, to create a $814 million joint venture as rival Alibaba Group Holding Ltd. ramps up to issue its initial public offering.

  • August 29, 2014

    Pulling Up Stakes: Ropes & Gray, King & Spalding, Tandem

    In this week's dealmakers on the move, Ropes & Gray LLP picked up a U.K. private equity pro from Travers Smith LLP in London, while King & Spalding LLP added a corporate partner from Freshfields Bruckhaus Deringer LLP in New York, and Washington, D.C., boutique law firm Tandem Legal Group nabbed two tax and M&A pros from Skadden Arps Slate Meagher & Flom LLP.

  • August 29, 2014

    Jones Day Reps Riverside Co. In Craft Beer Market Win

    Private equity firm Riverside Company said Friday it would acquire small-scale brewery Uinta Brewing Co., making for a rare win in the bustling craft beverage marketplace that has largely kept deal makers on ice.

  • August 29, 2014

    Brazilian Suitors Press Investors On $611M Chiquita Merger

    A pair of Brazilian bidders behind a spurned counterbid for Chiquita Brands International Inc. made clear in recent days they are committed to their $611 million offer, taking their case to shareholders and a top proxy adviser as the fruit distributor sticks by its original tie-up plan.

  • August 29, 2014

    $2.8B Duke Sale Promises More Merchant Power Exits

    Duke Energy Corp.’s recently-announced $2.8 billion sale of its Midwest merchant generation and retail businesses to Dynegy Inc. is the latest deal to signal a retreat by traditional utilities from the unregulated space, which experts say will spur consolidation in the merchant power sector and create more opportunities for private equity firms and other nontraditional power players.

  • August 29, 2014

    The Three M&A Firms That Dominated This Summer

    A busy summer in the M&A marketplace left a wide opening for law firms to cash in on the deal-making frenzy, but a trio of well-established shops stood out among the competition by roping in some of the season's highest-profile transactions.

  • August 29, 2014

    National Australian Bank Plans IPO Exit From US Unit

    The National Australian Bank will sell its U.S. subsidiary Great Western Bancorp Inc. through a public float on the New York Stock Exchange in a bid to refocus its efforts on its core Australia and New Zealand businesses, the bank said Friday.

  • August 29, 2014

    FTC Puts Reynolds' $27B Lorillard Buy To Antitrust Test

    Reynolds American Inc.'s proposed $27 billion takeover of rival tobacco company Lorillard Inc. is facing antitrust scrutiny despite a deal to unload several brands to Imperial Tobacco Group PLC, according to a regulatory filing Friday.

  • August 29, 2014

    Kirkland Reps 3i In $202.5M Purchase Of Engineering Co.

    3i Group PLC said Friday that it will acquire protective equipment engineering company A&A Manufacturing in a $202.5 million deal just a month after the British private equity firm said it would be sticking to exits, calling the the middle market “fully priced.”

  • August 29, 2014

    Evoq Properties Sued By Shareholders Over $357.4M Buyout

    Evoq Properties Inc. was hit with a shareholder class action in California court Wednesday over the $357.4 million buyout deal it agreed to earlier this month, with investors claiming the company breached its fiduciary duty by failing to ensure that they would get a fair shake.

  • August 29, 2014

    Affinity Drops $314M On Virgin Australia Stake

    Asian private equity firm Affinity Equity Partners has paid AU$336 million ($313.7 million) for a minority stake in Virgin Australia Holdings Ltd.'s frequent-flier program as the airline, Australia's second-largest, looks to broaden its footprint in the country's tight air-travel market, the airline announced Friday.

  • August 29, 2014

    Dealmakers Q&A: WilmerHale’s Brian Johnson

    We are seeing an uptick in renewed venture investing in earlier-stage and new life sciences and biotechnology companies. These new companies could form the basis for the next crop of initial public offerings in future years, says Brian Johnson, co-chairman of Wilmer Cutler Pickering Hale and Dorr LLP’s capital markets group.

  • August 29, 2014

    Dealmakers Q&A: Davis Wright's Sean McCann

    The most impressive transactional professionals I’ve practiced with have a deep understanding of what matters to the parties on the other side of the table, well beyond what may be communicated in a term sheet or markup, says Sean McCann of Davis Wright Tremaine LLP.

  • August 28, 2014

    SynQor Shareholder Suit Nixed Over Buyout Deal

    A Delaware Chancery judge on Wednesday tossed a putative class action by SynQor Inc. shareholders who claimed senior management's buyout deal shortchanged minority stockholders of the power conversion company, ruling the transaction was an appropriate exercise of business judgment.

Expert Analysis

  • 5 Reasons Large Companies Are Turning To Boutique Firms

    David M. Levine

    The departure of attorneys from large firms is a trend that has increased as a result of the Great Recession and its aftermath, and boutique firm partners who previously worked at large firms understand the potential large-firm pitfalls, say attorneys with Levine Kellogg Lehman Schneider & Grossman LLP.

  • How To Protect In-House Legal Privilege Internationally

    Martje Verhoeven-de Vries Lentsch

    Many companies regularly communicate with in-house legal advisers all over the globe. Are these communications privileged? By answering five questions, companies and attorneys can perform a high-level, initial assessment of legal privilege protection in a multijurisdictional context, says Martje Verhoeven-de Vries Lentsch of De Brauw Blackstone Westbroek and Haynes and Boone LLP.

  • 2nd Circ. Has Made Morrison Standard Even More Arbitrary

    J. Robert Brown Jr.

    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.

  • Tales From The Dark Side Of Emerging Markets

    Kevin Atkins

    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.

  • The 8 Gotchas Of Technology Contracting: Part 2

     Craig Auge

    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.

  • The 8 Gotchas Of Technology Contracting: Part 1

    Craig Auge

    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.

  • Tax-Free REIT Spinoffs Could Be The Next Big Thing

    Thomas A. Humphreys

    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.

  • From The Book Of Jargon: Accelerated Share Repurchase

    In this short video — the latest installment from the "Book of Jargon" — Latham & Watkins LLP partner Rafal Gawlowski defines "accelerated share repurchase."

  • 4 Trends In FTC Antitrust Regulation And Enforcement

    Leslie John

    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.

  • Corp. Governance Politics: Much Ado About Symbolic Change

    Edward B. Rock

    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.