Mergers & Acquisitions

  • May 29, 2015

    Deals Rumor Mill: Humana, TCV, Intel

    The health care sector might see more consolidation as insurer Humana Inc. considers selling itself after being approached by competitors for a possible takeover, while Intel Corp. is nearing a deal to swallow chip-making rival Altera Corp.

  • May 29, 2015

    $1.5B Aer Lingus Takeover Gains Momentum With Ireland's OK

    Ireland’s parliament voted Thursday to approve the sale of its 25 percent stake in Aer Lingus Group PLC to British Airways owner International Consolidated Airlines Group SA, moving IAG's $1.5 billion takeover of Aer Lingus one step closer to becoming a reality.

  • May 29, 2015

    FTC Sues To Block $1.9B Steris-Synergy Merger

    The Federal Trade Commission issued an administrative complaint on Friday seeking to block a $1.9 billion deal merging sterilization providers Steris Corp. and Synergy Health PLC, claiming the cross-border tie-up would harm competition for radiation-based sterilization services.

  • May 29, 2015

    Heartland Continues Expansion With $95M Premier Valley Buy

    Iowa-based bank holding company Heartland Financial USA Inc. has continued its rapid U.S. expansion by agreeing on Friday to buy California-based Premier Valley Bank for roughly $95 million, giving Heartland a total of 95 banking locations in 11 states with about $7 billion in total assets.

  • May 29, 2015

    Equinix Offers $3.6B For Telecity, Smashing Interxion Deal

    Global data center service firm Equinix Inc. has agreed to buy U.K. peer Telecity Group PLC for about £2.35 billion ($3.6 billion), the companies said on Friday, quashing a previously agreed upon merger between Telecity and Interxion Holding NV.

  • May 29, 2015

    Sidley Austin Snags Top Entertainment Lawyer From Stroock

    Sidley Austin LLP has lured the former co-leader of Stroock & Stroock & Lavan LLP's entertainment practice group to its newly opened second office in Los Angeles, where he will bring significant experience representing prominent entertainment industry players in complex mergers, acquisitions and financing transactions, the firm said Thursday.

  • May 29, 2015

    Taxation With Representation: Skadden, MoFo, Latham

    In this week's Taxation With Representation, a phalanx of attorneys from Latham & Watkins, Skadden and Morrison & Foerster work Avago Technologies Ltd.'s $37 billion historic purchase of a rival chipmaker, while Baker Botts and Sullivan & Cromwell work behind the scenes of the blockbuster $55 billion tie up between Charter Communications Inc. and Time Warner Cable Inc.

  • May 29, 2015

    FTC Commish Calls For War On Hospital Construction Laws

    Federal Trade Commissioner Maureen K. Ohlhausen on Friday urged the antitrust agency to put pressure on state legislatures around the country to scrap laws requiring state approval for the construction of new hospitals, saying the laws are “anti-competitive" in nature and create barriers for new market entrants.

  • May 28, 2015

    Capmark To Pay $410M For Senior-Targeted Catalog Retailer

    Capmark Financial Group Inc., guided by Akin Gump Strauss Hauer & Feld LLP and Faegre Baker Daniels LLP, will buy senior-focused clothing retailer Orchard Brands Corp. for $410 million in cash to complement its retail subsidiary Bluestem Brands Inc., the companies said Wednesday.

  • May 28, 2015

    DC Judge Questions FTC Case In Sysco-US Foods Merger

    A DC federal judge grilled the Federal Trade Commission on its case to block the $3.5 billion Sysco Corp.-U.S. Foods Corp. merger Thursday, questioning disputed expert testimony central to the agency’s effort.

  • May 28, 2015

    Deals Rumor Mill: GE, Macquarie, VTB Bank

    A trio of private equity firms are said to be among the frontrunners to acquire a General Electric Co. unit that funds leveraged buyouts, while the infrastructure arm of Australian banking giant Macquarie Group Ltd. is shopping around a potential sale of Moto Hospitality Ltd.

  • May 28, 2015

    Expedia To Sell $710M In Bonds To Fund Orbitz Acquisition

    Online travel giant Expedia Inc. will sell $710 million in bonds to finance its proposed $1.6 billion acquisition of online booking site Orbitz Worldwide Inc., the company said on Thursday.

  • May 28, 2015

    Bankrupt Saladworks Gets Nod For $17M Sale To PE Firm

    A Delaware bankruptcy judge agreed Thursday to approve casual restaurant chain Saladworks LLC's $16.9 million sale to a unit of private equity firm Centre Lane Partners LLC after no suitors came forward to best the stalking horse bid.

  • May 28, 2015

    Singapore Wealth Fund Invests More Than $1B In Rede D’Or

    Brazilian investment bank BTG Pactual SA said Wednesday that it has sold 1.6 billion reais' ($505.6 million) worth of hospital group Rede D'Or Sao Luiz SA to Singapore’s sovereign wealth fund, which reportedly also bought an equally big slice of Rede D'Or from its founder’s family.

  • May 28, 2015

    Frederick's Of Hollywood Likely To Sell IP To ABG For $22.5M

    Frederick's of Hollywood Inc. said Wednesday in Delaware court that it has canceled an auction to sell off its intellectual property because the bankrupt lingerie retailer received no qualified bids that challenged the $22.5 million put up by stalking horse Authentic Brands Group LLC.

  • May 28, 2015

    Calif. Software Co. Beats Atty’s Suit Over $175M Stake

    A California federal judge on Wednesday tossed a suit brought by a Michigan attorney accusing a privately held software developer of denying his right to a $175 million stake, ruling the attorney didn’t act in the company’s best interests and the agreements he drafted were “plainly unfair.”

  • May 28, 2015

    Defense Contractor L-3 Pays $220M For UK's CTC Aviation

    Defense contractor L-3 Communications has agreed to buy U.K.-based airline pilot training and resourcing company CTC Aviation Group for £143 million ($220 million), the companies said on Thursday, in a move meant to bolster L-3's commercial aviation training business.

  • May 28, 2015

    Ironshore Formally Nixes IPO Plans For $1.8B Fosun Deal

    Private equity-backed Ironshore Inc. formally withdrew plans for an initial public offering Thursday, after the U.S. insurance group inked a $1.83 billion buyout by Fosun International Ltd., its largest shareholder.

  • May 28, 2015

    NXP Sheds Unit To Chinese Asset Firm In $1.8B Deal

    NXP Semiconductors NV said Thursday it will shed its radio frequency power amplification business in a $1.8 billion deal with Chinese government-owned Jianguang Asset Management Co. Ltd. to help seal its proposed purchase of private equity-backed Freescale Semiconductor Ltd.

  • May 28, 2015

    Sunac Kills $1.2B Plan To Take Over Kaisa

    After several months of negotiations, Sunac China Holdings Ltd. on Thursday announced that it had dropped its $1.19 billion bid to pick up struggling Kaisa Group Holdings Ltd.

Expert Analysis

  • 4 In-House Preferences For Better Outside Counsel

    Patrick H. Reilly

    The best outside counsel change their optics to think like the client. For these lawyers, client service is not just about top-notch legal work — it is about making life easier for the entire in-house team. In the words of litigation counsel at medical device company Zimmer Inc. and outside counsel at Faegre Baker Daniels LLP, here are four ways outside counsel can better serve clients.

  • Why Bylaw Solutions To Meritless M&A Suits Are Problematic

    Douglas W. Greene

    For the past several years, there has been great focus on amendment of corporate bylaws to corral and curtail shareholder challenges to mergers. There are now three main solutions afoot, but these initiatives will have unintended consequences that will leave us with a different set of problems than the ones they solved, says Douglas Greene of Lane Powell PC.

  • Fracking 2.0: The Rise Of American Shale Refracking

    Gabriel B. Collins

    New data strongly suggests energy companies will likely accelerate the refracturing of previously hydraulically fractured wellbores in unconventional shale gas plays across the U.S. The trend from industry analysis points to a much more positive outlook for refracking's growth potential than the present market consensus would suggest, says Gabriel Collins of Baker & Hostetler LLP.

  • Tools To Fight Securities Suits In Cross-Border M&A

    Nathan Rouse

    The potential applicability of the international comity and forum non conveniens doctrines can be particularly useful in the realm of M&A litigation, where success is often attained by gaining procedural advantages to end the litigation or at least drive down the cost of settlement, say Jim Howard and Nathan Rouse of Davis Wright Tremaine LLP.

  • A New Approach To Contract Due Diligence In M&A

    David Klein

    The problem with the existing M&A due diligence paradigm is that it does not take into consideration risks in contracts that were not considered material to the transaction — risks that will become apparent following closing as these contracts are integrated into the contract management processes of the purchaser, says David Klein of QuisLex Inc.

  • Deadlocked? How To Exit A Joint Venture The Right Way

    Kenneth A. Gerasimovich

    When there are deadlocks over material decisions in a joint venture, judicial dissolution is often an imperfect solution of last resort. Negotiated solutions hammered out while disputes and personal animosities may be clouding the parties’ judgment also may fail to provide satisfactory relief, say Kenneth Gerasimovich, a shareholder at Greenberg Traurig LLP, and Jennifer Brady, a New York-based attorney.

  • A Route To Directors' Early Exit From Merger Litigation

    Kevin C. Logue

    It has become all too common in transaction-related stockholder litigation for the pleading net to be cast widely, embroiling disinterested and independent directors into long and costly litigation. The Delaware Supreme Court's decision in the case of Cornerstone Therapeutics Inc. should lead to closer scrutiny of allegations against individual directors, say attorneys with Paul Hastings LLP.

  • How Cybercriminals Are Targeting Corporate Transactions

    Brent J. McIntosh

    Cybercriminals are increasingly deploying clever schemes to exploit company executives and their advisers in connection with corporate transactions, including financing transactions and mergers and acquisitions. These sophisticated schemes include emails that provide a closing or a litigation settlement that would seem wholly legitimate to the recipient, say Brent McIntosh and Judson Littleton of Sullivan & Cromwell LLP.

  • Why El Paso Will Have Very Limited Applicability

    Philip Richter

    Notwithstanding commentary suggesting otherwise, in our view, the recent Delaware Chancery Court decision in a derivative suit related to an El Paso Pipeline Partners LP “drop-down” transaction does not indicate that the court will be more likely than in the past to find liability of master limited partnership general partners or their bankers, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Consider 5 Things Before Choosing An E-Discovery Provider

    Barry O’Melia

    There has been a rapid and robust growth in the number of companies offering electronically stored information collection, management and processing services. But a recent survey indicated that not all service providers offer the level of expertise needed in today’s world of big data, the cloud and mobile devices, says Barry O’Melia, chief operations officer at Digital WarRoom.