Apollo Global Management LLC and TPG Capital LP’s debt-laden casino operator Caesars Entertainment Corp. said Monday that it would merge with Caesars Acquisition Co., a publicly traded subsidiary, in an all-stock deal as it looks to put itself on more stable financial footing ahead of a likely Chapter 11 restructuring.
Propelled by their strongest start since the financial crisis, a strong run in the back half of 2014 cemented a turnaround for the deal-making marketplace driven by rising confidence and renewed boldness. Here, in the second of a two-part series, Law360 looks back on a handful of plays that defined an active back half.
Johnson & Johnson will pay $125 million, and potentially $575 million more if certain goals are met, to help develop a drug treating blood cancers through a collaboration announced Monday with its subsidiary Janssen Biotech Inc. and clinical stage company MacroGenics Inc.
Supermarket operators Safeway Inc. and Albertsons said Friday they would sell off over 150 grocery stores in order to secure antitrust approval from the U.S. Federal Trade Commission for Albertsons' approximately $9 billion private equity-backed acquisition of Safeway, a deal that will merge two of the largest grocery store chains in the U.S.
American Apparel Inc. confirmed Monday it has received a takeover approach worth as much as $245 million, adding to the drama unfolding for months at the struggling retailer that picked up last week after it officially booted its controversial founder.
A California federal judge on Friday rejected Hewlett Packard Co. shareholders’ third attempt at a settlement in their derivative suit over HP's disastrous $11.1 billion Autonomy Corp. acquisition, ruling the deal’s potential release of claims was still far too broad.
A New York bankruptcy judge on Friday refused to halt Aereo Inc.'s plan to auction assets including intellectual property and equipment among as many as 17 potential buyers, some said to be significant competitors of broadcasters who had put on a full-court press to block the bidding.
A Delaware Chancery judge on Friday cleared the way for Family Dollar Stores Inc.'s upcoming shareholder vote on the board-approved $8.5 billion buyout offer from fellow discount retailer Dollar Tree Inc., rejecting a call by certain Family Dollar investors to hold up the meeting.
K&L Gates LLP has lured a transaction pro away from her role as LipoScience Inc.'s general counsel to work as a mergers and acquisitions partner in its Raleigh, North Carolina, office, the firm said Monday.
The European Commission on Friday cleared market researcher IMS Health’s €385 million ($470.1 million) acquisition of parts of French rival Cegedim's business, conditioned on certain divestitures and agreements, concluding the revised deal doesn’t threaten competition with less choice and higher prices.
Starwood Capital Group is buying two real estate firms, one based in Norway and one in Sweden, for a combined 11 billion Norwegian kroner ($1.49 billion), the largest real estate deal in Scandinavia this year, Starwood announced on Friday.
Ally Financial Inc. said Friday that the U.S. Department of the Treasury has sold the rest of its interest in the company, raising $1.3 billion as the once-troubled auto lender exits the Troubled Asset Relief Program.
Dollar General Corp. said Friday that it is still in talks with the Federal Trade Commission to resolve antitrust concerns tied to its hostile $9.1 billion bid for Family Dollar Stores Inc., the rival that already agreed to sell itself to a third discount retailer.
Online real estate listing rivals Zillow Inc.and Trulia Inc. said Thursday their respective shareholders have approved Zillow’s proposed proposed $3.5 billion stock-for-stock acquisition of Trulia as the companies await the green light from U.S. competition regulators.
In this week's Taxation With Representation, Thoma Bravo snaps up Riverbed Technology in a $3.6 billion sale, while Emerson Electric unloads its power transmissions business in a $1.4 billion deal.
Against the backdrop of a midyear set of proposed regulations from the Internal Revenue Service broadening the definition of real property, companies looked this past year to separate asset-specific parts of their businesses into real estate investment trusts, and lawyers expect that trend to continue — and perhaps pick up more steam — in 2015.
A senior vice president, general counsel and secretary at Enterprise Products Partners LP is leaving the company to join Norton Rose Fulbright's corporate, securities and mergers and acquisitions practice group in Houston, the law firm announced Thursday.
The long-running bidding war for Club Mediterranee SA continued on Friday as Chinese conglomerate Gaillon Invest II raised its offer to €24.60 ($30.09) per share, hours before the deadline closed on a Dec. 5 offer of €24 per share by rival Italian investor Andrea Bonomi and his Global Resorts SAS.
The market for distressed and special situation private equity investing is poised to heat up in 2015 as oil prices lingering at the lowest level in half a decade fuel concerns that a number of energy companies won't be able to meet their debt obligations, experts say.
The Delaware Supreme Court on Friday shot down a 30-day injunction barring oil field company C&J Energy Services Inc. from holding a shareholder vote on a proposed $2.9 billion merger with the hydraulic fracturing and well-sealing units of Nabors Industries Ltd., finding numerous problems with the Chancery Court decision.
The rule of thumb that can be gleaned from this year’s case law is that parties should address the use of technology-assisted review early on in the discovery process since a failure to do so may later be used against them, says Gabriela Baron of Xerox Litigation Services.
The New York Appellate Division, First Department, in Ambac Assurance Corp. v. Countrywide Home Loans Inc. came to the right conclusion on the common interest privilege in the nonlitigation context — it was the first state appellate opinion expressly adopting the majority rule on this issue, which holds that the privilege applies equally to litigated and nonlitigated matters, says Charles Lemley of Wiley Rein LLP.
The bad news coming out of the European Pro Bono Summit in November was the rising toll of heavy cuts to public legal aid in England. From this crossroad, there is a lot to be learned about the relationship between public and private assistance, the direction of legal help for the poor in the EU, and whether the American legal aid/pro bono experience offers a road map for what’s next in Europe, says Kevin Curnin of the Association ... (continued)
While many biotech founders and investors believe their scientific efforts will generate substantial value, big pharma is often unwilling to pay significant sums to acquire products before significant derisking is undertaken — to bridge this gap, big pharma and early-stage biotech companies have turned to option deals to accomplish their respective goals, says Brian Goldstein of Choate Hall & Stewart LLP.
In Zhongpin Inc. Stockholders Litigation, the Delaware Chancery Court found the plaintiffs had pled sufficient facts to raise an inference that company founder, chairman and CEO Xianfu Zhu was a controlling stockholder — even though he owned only 17 percent of the stock and had not controlled the directors’ decision relating to his going-private bid. A greater willingness to cooperate in the transaction would have advantaged Zhu's ... (continued)
Proxy advisory firms Institutional Shareholder Services and Glass Lewis & Co. recently released updates to their respective voting guidelines for the 2015 proxy season. Paul Hastings LLP attorneys have mapped out the key changes.
In the 100 years since the Federal Trade Commission was established, the delivery of health care services — a profession some once argued should be exempt from antitrust scrutiny — has become one of the FTC's primary enforcement priorities. As the FTC embarks upon its second century, there are at least four emerging trends in health care antitrust enforcement, says Dionne Lomax of Mintz Levin Cohn Ferris Glovsky and Popeo PC.
In the classic case, a client and his attorney seek appellate counsel after the trial court proceedings are concluded. But these days, “classic cases” are few and far between — more and more, appellate lawyers assist in the trial court with preservation of the appellate record and compliance with the many technical rules of appellate procedure, says David Axelrad of Horvitz & Levy LLP.
The consensus that emerged from my discussions with several lawyers who have become best-selling novelists is that the traits it takes to be a great lawyer are invaluable in crafting first-rate mysteries and thrillers. Both thriller authors and lawyers possess a concentrated attention to detail that allows them to create a logical framework for their story, brief or courtroom presentation, says Michael Rubin of McGlinchey Stafford PLLC.
State corporate laws usually contain anti-dilution protections for holders of common stock in the event of potentially dilutive structural transactions. Comparable protections are not generally available for holders of convertible securities, however, and therefore anti-dilution mechanisms must be set forth explicitly, say James Kardon and Don Grubman of Hahn & Hessen LLP.