Mergers & Acquisitions

  • April 29, 2016

    EFH Has Few Good Options After Big Bet On Oncor Deal Sours

    Energy Future Holdings Corp. has few immediate options to regroup after its innovative $20 billion gamble to reorganize its electricity transmission unit Oncor into a real estate investment trust appears to be history, leaving the mega-Chapter 11 in a state of costly and uncomfortable uncertainty, experts say.

  • April 29, 2016

    Faruqi Takes 2nd Swing At Ex-Partner's Leucadia Fees Suit

    Faruqi & Faruqi LLP took a second run Friday at a former partner’s lawsuit alleging the firm didn’t pay her for work in shareholder litigation challenging Leucadia National Corp.’s $3 billion Jefferies Group Inc. grab, saying she tried to tack on allegations after the complaint was filed.

  • April 29, 2016

    After Rejection, Sanofi Threatens Hostile Bid For Medivation

    Biopharmaceutical firm Medivation Inc. said its board of directors unanimously rejected Sanofi SA’s $9.3 billion all-cash buyout offer, which it claims is inadequate, but the French drugmaker countered Friday by saying it would take the offer directly to Medivation’s shareholders.

  • April 29, 2016

    Bankrupt Newbury Gets Nod On Piecemeal Property Auction

    Despite criticism from creditors, a Delaware bankruptcy judge approved a flexible, mix-and-match auction plan Friday that will put eight Stamford, Connecticut, properties on the block in an effort to settle Newbury Common Associates LLC’s troubled, stitched-together Chapter 11.

  • April 29, 2016

    Deals Rumor Mill: Yahoo, Pfizer, Atlante

    Yahoo Inc. has a short list of 10 bidders, which includes Verizon Communications Inc., for its core Internet business, according to a Reuters report Friday. Most of the offers are cash-only, and also come from big private equity players such as TPG Capital LP. The move to divest the core assets comes after Yahoo scrapped plans to spin off its Alibaba stake in December. Earlier this week, Yahoo announced a truce with activist investor Starboard Value that saw the company partially shake up its board to avoid a proxy fight.

  • April 29, 2016

    Blank Check Co. Files $345M IPO To Buy Hospitality Biz

    Blank check company Landcadia Holdings Inc. filed an initial public offering of stock on Thursday at a maximum price of $345 million to acquire a hospitality enterprise, the latest in a string of such companies to go public this year.

  • April 29, 2016

    Much Shelist Snags Veteran Enviro Attorney From Reed Smith

    Much Shelist PC has lured an attorney from Reed Smith LLP with more than three decades of experience helping clients navigate environmental compliance issues related to real estate developments and contracts across the U.S. 

  • April 29, 2016

    Taxation With Representation: Baker & McKenzie, Gibson Dunn

    In this week’s Taxation With Representation, a health care giant acquires a medical device maker with help from Baker & McKenzie and Gibson Dunn tax counsel, while a media stalwart picks up an animation studio and a medical services company is purchased.

  • April 29, 2016

    Troutman Sanders Nabs Ex-Sheppard Mullin M&A Pro

    Troutman Sanders LLP on Thursday said that it scored a mergers and acquisitions expert from Sheppard Mullin Richter & Hampton LLP who works closely with clients in the food and beverage and health care sectors to round out its corporate practice in Orange County, California.

  • April 29, 2016

    AB InBev Offers More Merger Concessions To EU Regulator

    Anheuser-Busch InBev said Friday it plans to sell SABMiller PLC’s assets in Central and Eastern Europe alongside its $100 billion merger with the British brewer in a proactive move aimed at winning antitrust approval from the European Commission next month.

  • April 29, 2016

    Ex-Bryan Cave Atty Appeals Conviction Over Maxim Deal

    Former Bryan Cave LLP transactional attorney Harvey Newkirk on Thursday launched an appeal of his fraud conviction and prison sentence for a purported scheme to defraud lenders of $8 million as part of a failed ploy to acquire Maxim magazine.

  • April 29, 2016

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

    With so much mergers and acquisitions news this week, you may have missed several deals announced in recent days, with firms such as Cooley, Skadden and Alston & Bird at the helm. Here, Law360 recaps the ones you might have missed.

  • April 29, 2016

    US Energy, Utility M&A Activity Hits 10-Year High

    Energy and utility M&A in the U.S. so far this year is off to a strong start, with deal value more than triple what was seen last year and topping every year since 2007 as low interest rates, renewable energy tax credits, low oil and gas prices and private equity firm's mass amounts of dry powder have created a perfect storm for deal-making, experts say. 

  • April 29, 2016

    2nd Circ. Affirms Dismissal Of Transocean Merger Suit

    Shareholders of a company acquired by Transocean Ltd. cannot sue over a stock drop resulting from the Deepwater Horizon spill because they did not bring the suit within the three-year time limit, a Second Circuit panel said Friday, affirming a lower court’s ruling.

  • April 29, 2016

    PE Firm Exits In Africa Hit 9-Year High

    More private equity firms successfully exited their investments in Africa in 2015 than in each of the eight years prior, even as global economic uncertainty posed a variety of obstacles to sale, according to data published by Ernst & Young and the African Private Equity and Venture Capital Association.

  • April 29, 2016

    Jumio Delays Auction For Talks With Multiple Bidders

    The sale of software developer Jumio Inc. has been delayed by a week so the bankrupt company can continue talks with multiple potential bidders, an attorney said on Friday at a status conference on the company’s Chapter 11 case.

  • April 29, 2016

    Morgan Lewis Denied Dilworth Docs In Philly Newspaper Row

    Morgan Lewis & Bockius LLP was blocked Thursday from securing documents from Dilworth Paxson LLP in a Pennsylvania lawsuit accusing the former firm of improperly taking sides in a feud between rival groups that had owned Philadelphia's two major daily newspapers.

  • April 29, 2016

    Trident Spinoff Sunstone Closes $300M PE Technology Fund

    Sunstone Partners, a newly formed private equity firm carved out of Silicon Valley venture capital player Trident Capital, said Thursday that it has closed a technology-focused growth equity fund with $300 million of total commitments, surpassing its initial target.

  • April 29, 2016

    Alere Refuses Abbott Bid To Back Out Of $5.8B Merger

    Alere Inc. said Thursday that its board of directors rejected a request by Abbott Laboratories, which expressed concerns about the diagnostic services provider’s pending foreign bribery probe and delays with its annual report, to terminate their proposed $5.8 billion tie-up.

  • April 29, 2016

    Cooley, Skadden Steer $1B Rovi-TiVo Deal

    Rovi Solutions Corp., which provides digital media guides and licenses entertainment device patents, said Friday it is acquiring set-top-box maker TiVo Inc. in a $1.1 billion cash and stock deal guided by Cooley LLP and Skadden Arps Slate Meagher & Flom LLP.

Expert Analysis

  • OPINION: Engaging The Media May Help Your Client

    Liz Mair

    While I am confident that the decisions in Windsor and Obergefell were made on the basis of the dictates of the Constitution, I am also confident that the communications efforts undertaken gave the justices additional comfort to make the right call, and ensured that these decisions were not treated as a Roe v. Wade redux, says Liz Mair, former online communications director for the Republican National Committee and president of Mair Strategies.

  • Abry Still Relevant For Dodging Post-Closing Claims

    Benjamin M. Grossman

    In the 10 years since the seminal decision in Abry Partners v. F&W Acquisition, Delaware courts have continued to apply its principles while providing guidance on how to effectively bar extracontractual fraud claims in private acquisitions. Unfortunately, the lessons of Abry and subsequent cases have yet to be fully internalized by some practitioners, says Benjamin Grossman of Jones Day.

  • State Control Of Hospital Merger Review May Be A Good Idea

    Emily Chow

    In West Virginia, the Federal Trade Commission filed an administrative complaint to prevent the merger of two hospitals — just three months after the state attorney general announced his approval. Although West Virginia’s subsequent legislative acrobatics to secure state-action-exemption protection for certain hospital mergers are novel, to hospitals and other states, West Virginia might be on to something, say Emily Chow and Matth... (continued)

  • Using The New Federal Rules To Rein In Discovery

    Martin J. Healy

    The 2015 amendments to the Federal Rules of Civil Procedure present a fertile opportunity for defendants to leverage the rules' renewed focus on reasonableness and proportionality to rein in rampant discovery abuse. Courts' application of the amended rules has already shown promise in this regard, say Martin Healy and Joseph Fanning of Sedgwick LLP.

  • Brokaw Act Could Broaden Change-Of-Control Triggers

    Laurent Alpert

    The recently introduced “Brokaw Act” proposes changes to the rules governing the reporting of ownership in U.S. public companies and would expand the definition of “beneficial owner.” But as the definition of ownership expands, the definition of change of control in many indentures may expand as well — sometimes in ways the drafters may not have anticipated, say Laurent Alpert and Robert Gruszecki of Cleary Gottlieb Steen & Hamilton LLP.

  • Dentons: A New Kind Of Network?

    MarkACohen.jpg

    Dentons is two different law firm networks in one. So even if the Swiss verein structure should eventually fail and Dentons is forced to operate as a network of independent law firms, it could still be a significant market force, says Mark A. Cohen, a recovering civil trial lawyer and the founder of Legal Mosaic LLC.

  • From The Book Of Jargon: Tree

    In the latest excerpt from the "Book of Jargon," Michèle Penzer, managing partner of Latham & Watkins LLP's New York office, defines the finance term "tree."

  • M&A Strategies In A World Of Rising Antitrust Risk: Part 2

    Bernard A. Nigro Jr.

    One tactical issue to be kept in mind is to what extent merger agreement provisions will affect the leverage of antitrust regulators. Another tactic relates to the timing of a transaction based on political considerations, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • M&A Strategies In A World Of Rising Antitrust Risk: Part 1

    Philip Richter

    A variety of tools are available to craft remedies to antitrust concerns arising from a proposed transaction and to allocate the risk between the parties as to the possibility of regulatory approval not being obtained. Parties must be strategic in their selection of these tools and in creatively tailoring them in novel ways, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Volatility Vs. Stability: Oil And Gas M&A Trends To Watch

    It’s a rough time for commodity producers, but there does appear to be some stabilization in the market and a large amount of activity from private equity buyers. In this short video, Latham & Watkins LLP partners Simon Tysoe and Sean Wheeler discuss the current oil and gas M&A market and some trends we could see in the next few months.