Mergers & Acquisitions

  • August 21, 2014

    Don't Miss It: Hot Deals & Firms We're Following This Week

    With so much M&A news this week, you may not have seen some announced deals involving law firms like Vinson & Elkins and others. Here, Law360 takes a look at the ones you may have missed.

  • August 21, 2014

    Etihad's Darwin Bid Needs Work, Swiss Regulator Says

    Swiss regulators have given Etihad Airways and Darwin Airline until Sept. 30 to change an agreement for Etihad to buy a third of Switzerland’s regional airline, warning that the current plan is not eligible for approval because it cedes too much control to Etihad.

  • August 21, 2014

    Irell Hires 6 Media And Transactions Attys From Liner In LA

    Irell & Manella LLP has lured a veteran entertainment partner and five other attorneys from Liner LLP to serve in Irell’s Los Angeles office and strengthen the law firm’s corporate and media and entertainment practice groups, Irell announced on Thursday.

  • August 21, 2014

    Antitrust Setbacks Won't Deter Buyers Amid M&A Boom

    Dollar General suffered a blow on Thursday when Family Dollar Stores Inc. rejected its $9 billion bid amid concerns about an antitrust review, but the wannabe buyer's willingness to stage the high-stakes play in the first place spotlights a certain boldness that comes with a robust M&A marketplace.

  • August 21, 2014

    PE Firm Blue Point Sells Callison Stake To Dutch Co.

    Private equity firm Blue Point Capital has agreed to sell architecture and interior design consultancy Callison to Dutch design and consulting firm Arcadis NV, Arcadis said Thursday.

  • August 21, 2014

    Bankrupt Tactical Scores New Buyer For Military Apparel Arm

    Bankrupt military outfitter Tactical Intermediate Holdings Inc. tapped a new buyer for its military apparel division on Wednesday, following an auction that saw the original $13 million stalking horse bidder outpaced by a rival suitor.

  • August 21, 2014

    Tax Policy Pessimism Driving Inversions, Brookings Says

    The recent surge in corporate inversions can be blamed on the corporate desire to hold on to foreign earnings, and a general belief that U.S. policy concerning the taxation of those earnings isn't likely to change anytime soon, according to a Brookings Institution paper released Wednesday.

  • August 21, 2014

    AGs of 16 States Back FTC In St. Luke's Merger Appeal

    The attorneys general of California, Pennsylvania and more than a dozen other states urged the Ninth Circuit Wednesday to uphold the Federal Trade Commission's successful challenge to St. Luke's Health System Ltd.'s acquisition of a major nearby physician practice group.

  • August 21, 2014

    Deals Rumor Mill: Pfizer, American Tire, VakifBank

    Pfizer Inc. is still seeking to acquire U.K. rival AstraZeneca PLC, despite having given up on its original $116 billion bid in May, while American Tire Distributors Inc. could sell for more than $3 billion in an auction that will feature a number of private equity firms.

  • August 21, 2014

    Kirkland Reps Vista Equity In SumTotal Sale To Skillsoft

    Private equity firm Vista Equity Partners on Thursday agreed to sell Florida-based SumTotal Systems LLC to PE-backed education software provider Skillsoft Limited for an undisclosed amount.

  • August 21, 2014

    PE Shops Abandon New Deals, Fix Focus On Exits

    Private equity firms are selling portfolio companies at the highest rate relative to new investments in more than a decade, as the markets for strategic and secondary sales and initial public offerings all remain strong in a rare alignment, experts say.

  • August 21, 2014

    Infineon Says $3B Price Is Right For International Rectifier

    Infineon Technologies AG on Thursday refuted claims that its $3 billion purchase price of International Rectifier Corp. was too high, saying that despite a slight stock drop occurring after the deal's announcement, the transaction will ultimately benefit both sides.

  • August 21, 2014

    Standard Chartered Puts Up $75M For Stake In Topaz Energy

    Private equity firm Standard Chartered Private Equity Ltd. said Thursday it would buy a 9.8 percent stake in offshore oil and gas services provider Topaz Energy and Marine Ltd. for $75 million, a deal that values the company at $765 million, in the latest example of private equity firms accepting smaller stakes in a competitive deal market.

  • August 21, 2014

    Gore Protests Redactions To Al Jazeera Lawsuit

    Former Vice President Al Gore and a fellow co-founder of the failed Current TV channel on Wednesday challenged redactions they say buyer Al Jazeera made to their breach-of-contract lawsuit against it in Delaware Chancery Court a day after the Qatar-based news network called the accusations “lawyer-driven public relations.”

  • August 21, 2014

    Rival Casino Plan Won’t Halt $203M Deal, Watchdog Says

    An Australian competition watchdog said Thursday that it will not stand in the way of a Hong Kong investment vehicle's AU$216.9 million ($203 million) bid to acquire a casino in Cairns despite its proposal to build another $8.15 billion casino resort in the same city.

  • August 21, 2014

    Antitrust Worries Derail $9B Family Dollar Counterbid

    Family Dollar Stores Inc. on Thursday spurned an $8.9 billion offer from rival Dollar General Corp., saying "significant antitrust issues" made an earlier deal proposition — an $8.5 billion tie-up with another discount retailer, Dollar Tree Inc. — a better option.

  • August 21, 2014

    Dealmakers Q&A: Fried Frank's Ross Silver

    The potential for rezoning of East Midtown and the area surrounding Grand Central Terminal is a significant opportunity to replace New York City's inefficient and aging class B office buildings in a strategically important location, says Ross Silver of Fried Frank Harris Shriver & Jacobson LLP.

  • August 21, 2014

    Dealmakers Q&A: Foley & Lardner's David Cook

    A rewarding aspect of managing large portfolio deals is putting together and coordinating the efforts of a large legal team. While quarterback, traffic cop and platoon leader are not terms used in my bio, they in part probably best describe my role in these transactions, says David Cook, partner and vice chairman of Foley & Lardner LLP's real estate practice.

  • August 20, 2014

    Aeroflex, Shareholders Strike Deal Over $1.5B Cobham Merger

    The putative class of shareholders suing private equity-controlled Aeroflex Holding Corp. over a proposed $1.46 billion acquisition of the communication equipment supplier by British defense manufacturer Cobham PLC told the Delaware Chancery Court late Tuesday that it had hammered out an agreement to resolve two lawsuits challenging the deal.

  • August 20, 2014

    Deals Rumor Mill: Mylan, Lear, Iliad

    Mylan is among several companies that have made it to the second round of bidding for a mature drug portfolio GlaxoSmithKline is offering, which could be worth as much as $3 billion, while Lear is on the verge of buying premium automotive leather supplier Eagle Ottawa for more than $800 million.

Expert Analysis

  • How To Control Risk And Cost Of E-Discovery

    "If you follow the philosophy of saving everything you're just multiplying exponentially the costs and risks of litigation and investigations," says Robert Owen, partner in charge of Sutherland Asbill & Brennan LLP's New York office and president of the Electronic Discovery Institute.

  • Books And Records Increasingly An Open Book

    Daniel E. Wolf

    In theory, companies have a number of ways to challenge books-and-records demands, but a progression of Delaware cases — including a Wal-Mart shareholder suit — has shown that such demands have increasingly generated expensive and time-consuming document production exercises and provided an avenue to trawl for documents that could facilitate derivative litigation, say Daniel Wolf and Matthew Solum of Kirkland & Ellis LLP.

  • Free And Clear Of Successor Liability Claims

    Christopher Hopkins

    The Delaware bankruptcy court’s holding in the case of Ormet Corp. that the express provisions of Section 363(f) are not trumped by the policy considerations embodied in the Employee Retirement Income Security Act and the Multiemployer Pension Plan Amendments Act should give comfort to debtors and purchasers of assets in a free-and-clear sale, says Christopher Hopkins of Weil Gotshal & Manges LLP.

  • 3 New Weapons To Combat Shareholder Litigation

    Jordan D. Temple

    Class action shareholder litigation continues to be at the forefront of recent developments in corporate law, but courts in various jurisdictions have recently been chipping away at such aggressive litigation. Companies now have more options in defending against these suits, says Jordan Temple of Parker Poe Adams & Bernstein LLP.

  • Lessons From SEC Focus On Compliance Officers

    Louis Greenstein

    The two recent U.S. Securities and Exchange Commission proceedings involving Penson Financial Services Inc. and Private Capital Management Inc. illustrate the continued focus of SEC enforcement on the duties and potential liability of compliance officers, say attorneys with McGuireWoods LLP.

  • An In-House Lawyer's Top 10 Tips For Outside Counsel

    Francis M. Drelling

    To this day, I have yet to see a litigation hold letter that was written by someone who understands the realities of how a business is actually run. In-house counsel cannot issue decrees to business units that read like they are issued by the king to his subjects, says Francis Drelling, in-house counsel at Specialty Restaurants Corp.

  • A Different Claim Aggregation Method To Avoid SLUSA

    Benjamin P. Edwards

    As the securities class action continues to experience death by a thousand cuts, we may soon see increasing numbers of the "disaggregated class" — a new tactic some plaintiff attorneys have begun to deploy to work around the Securities Litigation Uniform Standards Act by filing duplicative state court cases, says Benjamin Edwards of Michigan State University College of Law.

  • Howard-Anderson Does Not Increase Potential D&O Liability

    Robert C. Schwenkel

    The Delaware Court of Chancery’s ruling in Chen v. Howard-Anderson has raised concern among some practitioners, but the decision must be read in the context of the Delaware courts’ consistent approach to the duty of loyalty, and thus, does not meaningfully increase the potential for personal liability of directors or officers, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Law Firms May Be Violating Copyrights

    Roy Kaufman

    On average, a legal professional forwards content to 14 different people per week. Yet many attorneys and staff lack an understanding of copyright and their firm’s specific policies regarding shared third-party materials, says Roy Kaufman of Copyright Clearance Center.

  • A 'Commercial Reality' Check In Lehman-Barclays Dispute

    Jonathan T. Koevary

    Given the expedited nature of the 2008 sale of Lehman Brothers’ brokerage business to Barclays Capital, it is not entirely surprising that ambiguities existed, but market participants can take comfort in a Second Circuit examination of the “commercial reality” of the transaction in a ruling that may affect future payouts to Lehman creditors, say Adam Friedman and Jonathan Koevary of Olshan Frome Wolosky LLP.