Real estate investment trusts are experiencing a flurry of activity and posted solid gains in February thanks to growing confidence in the economy, and experts say mergers, public offerings and capital grabs are likely to continue to increase this year despite an uncertain tax future.
With the pageantry surrounding Leo E. Strine Jr.’s new job as chief justice of the Delaware Supreme Court over, the focus now turns to how he may shape the court's upcoming term with the most hotly anticipated decision being the appeal of one of the new chief justice’s own opinions.
The owner of China’s Juneyao Airlines is in talks with Boeing and Airbus to clinch 20 planes in a deal that could be worth nearly $2 billion, while the likes of Blackstone and Bain Capital are eyeing up Northwestern Mutual Life Insurance Co.’s $3 billion indexing and management firm.
A Zale Corp. shareholder filed a class action Thursday in Delaware Chancery Court, accusing the private equity-backed jeweler of breaching its fiduciary duty by letting Signet Jewelers Ltd. acquire it for only $690 million.
A joint venture comprising real estate finance and investment management firm PCCP LLC and real estate company Mountain Development Corp. has purchased Secaucus, N.J.'s One Harmon Plaza from New Boston Fund Inc. for $11.5 million, the companies said Friday.
A male in-house counsel once told me I had not been "nice" to him when I approached him about a business opportunity and would therefore not get the business. To add insult to injury, one of my male partners told me I should be flattered by the interest paid to me by the in-house counsel, says Paulette Brown, chief diversity officer at Edwards Wildman Palmer LLP.
Several people have told me that they had a lot of trepidation when they found out they would be working for a woman. To be effective, you need to be able to eliminate or address the conscious or unconscious bias colleagues may have about having a female boss, says Nancy Mitchell, chairwoman of Greenberg Traurig LLP's New York business reorganization and financial restructuring practice.
Private equity-backed medical device company Biomet Inc. is looking to raise $100 million in an initial public offering and plans to use the proceeds to reduce "outstanding indebtedness," according to documents filed Friday with the U.S. Securities and Exchange Commission.
Mining giant Cliffs Natural Resources Inc. said Friday that New York-based activist investor Casablanca Capital LP has rejected its offer to settle a proxy fight and is still barreling ahead with attempts to gain full control of the company's board and replace its CEO.
In this week's Taxation With Representation, Pennsylvania is the center of the M&A universe thanks to deals advised by Weil Gotshal, Reed Smith and Wachtell Lipton Rosen & Katz.
Reed Smith LLP said Thursday that a member of its financial industry group will serve as the new office managing partner in its Princeton, N.J., location, which specializes in financial services and life sciences, data security, energy, real estate and aviation practices.
Safeway Inc. is being bought by grocery store chain Albertsons, backed by New York private equity giant Cerberus Capital Management LP, in a $9 billion deal that will merge two of the largest grocery store chains in the U.S., the companies said Thursday.
The Second Circuit on Thursday rejected a former Citibank NA employee’s attempt to revive his suit seeking to recover compensation he claimed he was contractually owed for designing a private equity investment program targeting Brazilian companies that proved lucrative for Citibank and affiliated investors.
European private equity firm Cinven is mulling the sale of its 38-hospital network Spire for $2.51 billion, while Egyptian investment bank EFG Hermes sold its stake in a Dubai jewelry retailer for $150 million in a bid to raise money for funds focused on the Middle East.
San Francisco-based venture capital firm Founders Fund raised $1 billion to support startups focused on changing the world in a broad range of sectors including aerospace, artificial intelligence, energy and health, according to a Wednesday statement.
The Alaska Permanent Fund Corp. on Thursday expanded its relationship with LaSalle Investment Management by agreeing to give it £250 million ($418 million) to invest in U.K. real estate, the companies said Thursday.
A management team backed by private equity firm DouglasBay Capital PLC has bought for £280.8 million ($469.4 million) in cash and stock a majority stake in U.K. transport and distribution business Eddie Stobart Logistics from parent Stobart Group Ltd., Stobart said Thursday.
Young attorneys often make a key mistake — they fail to make themselves truly indispensable to a supervisor or to a client. They forsake forging deep bonds with a handful of select folks who will ultimately help to advance their careers, for the sake of doing bits and pieces on a variety of different matters, says Jill Nicholson, chairwoman of Foley & Lardner LLP's bankruptcy and business reorganizations practice.
The lawyer on the other side assumed I was the junior and initially deferred to my colleague, a junior male lawyer. I have to admit I did have a little bit of fun with it, playing to his view — the tea, coffee scenario. Of course, when he realized his error, it affected his contribution to the meeting, which was a positive, says Caroline Noblet, co-head of Squire Sanders LLP's labor and employment practice group.
Activist investor Carl Icahn stepped up his feud with eBay Inc. on Thursday, issuing a letter blasting the online auction house's "epic blunders" and saying that most shareholders favor separating eBay's multibillion-dollar payment-processing unit PayPal Inc. into a new business.
Cloud users must know how to use the cloud responsibly to prevent later difficulties with document production. When negotiating a cloud service agreement, users should look for certain services that will prove useful when responding to discovery requests, such as comprehensive search options, instant suspension of the auto-delete function, and preservation of metadata and embedded data, say attorneys with Sidley Austin LLP.
As the mergers and acquisitions markets in Asia continue to mature, U.S. and European multinationals involved in such markets are more frequently experiencing the clash in approaches to M&A risk allocation. As a general matter, stock sale and purchase agreements negotiated by English lawyers tend to place greater risk on purchasers than is typical in agreements negotiated by U.S. lawyers, says Jonathan Stone of Skadden Arps Slate Meagher & Flom LLP.
In an age of heightened litigation risk and motivated regulators, private equity and other investment firms cannot focus simply on their own legal compliance, but must remain diligent with respect to the portfolio companies in which they invest. Ways to mitigate secondary liability risks include requiring the election of a majority of independent directors at the portfolio company, say Ari Berman and Amy Tankersley of Vinson & Elkins LLP.
Ideally, implementing the type of Foreign Corrupt Practices Act review suggested by U.S. regulators in cross-border mergers and acquisitions will uncover any evidence of corruption before a deal is inked. But even if it does not, the exercise can provide a range of significant benefits, not the least of which is identifying “red flags” that can be addressed in deal documents and incorporated into the buyer’s integration plans, say attorneys with Dentons.
In stark contrast to the changing environment for the majority of lawyers today, the evolution for the general counsel is driven less by necessity than by opportunity. Today’s GC may touch every aspect of his or her organization to solve challenges and propel the company forward, keeping the GC far ahead of what is expected of the average lawyer, says James Merklinger, vice president and general counsel of the Association of Corporate Counsel.
In a recent Law360 guest column, Judge Wayne D. Brazil of JAMS shares the products of his research into decision analysis and gives several reasons why it is not a reliable tool for assessing the discounted settlement value of civil cases. Without question, however, his research has misinformed him, says Marc Victor, president of Litigation Risk Analysis Inc.
Commercial courtrooms in London are bustling with foreign litigants. England has many of the advantages of the U.S. system — like robust interim orders — without some of the U.S.’s distinct procedural disadvantages. And in addition to simplified discovery, litigating in England allows U.S. litigants to avoid punitive cost rules and the sometimes arbitrary verdicts of juries, say Ben Holland and Arielle Goodley of Covington & Burling LLP.
As a result of Germany’s capital markets volatility and unpredictability, alternative transaction structures such as pre-initial public offering placements and block trades are the new normal. So is institutional investors' willingness to transact with companies directly without investment banks as intermediaries. These developments will continue to change how transactions are structured, marketed and documented, say Stephan Hutter and Katja Kaulamo of Skadden Arps Slate Meagher & Flom LLP.
The recently closed comment period for the proposed Federal Rules of Civil Procedure amendments generated passionate antipodal responses over discovery rules that appear to benefit large corporate litigants at the expense of individual plaintiffs and civil rights groups. The nature and intensity of the response should lead the committee to reconsider the overall fairness of the proposed discovery amendments, says Henry Kelston of Milberg LLP.
We expect the number of consummated capital call subscription credit facilities to continue growing in 2014 as fundraising improves, the product further penetrates the private equity asset class and a greater number of existing facilities get refinanced. But a bleak outlook for municipal pensions — despite a significant rebound in many real estate markets — and fund structural evolution, among other things, will continue to challenge facility structures and ultimately drive them somewhat further down the credit continuum, say attorneys with Mayer Brown LLP.