Private Equity

  • July 25, 2016

    Yahoo Taps 4 Firms On Road To $4.83B Sale To Verizon

    Yahoo tapped four law firms to guide the flagging California tech giant through the $4.83 billion sale of its core business to Verizon, drawing on their expertise to champion a challenging and highly public auction process that was spurred by activist pressure.

  • July 25, 2016

    Orrick Taps Ex-Mayer Brown Energy Pro As Houston Partner

    A former Mayer Brown attorney with expertise in Latin American mergers and acquisitions and energy has been named a partner in Orrick's new Houston outpost, the firm announced Monday.

  • July 25, 2016

    TerraForm Power Adopts Poison Pill As Big Buyers Circle

    Targeted for a potential big buy-in by a hedge fund and asset manager, TerraForm Power Inc. announced adoption of “poison pill” shareholder protections Monday to discourage accumulation of Class A shares in the renewable energy company.

  • July 25, 2016

    PE-Backed At Home Group Primes $130M IPO

    Private equity-backed home decor retailer At Home Group Inc. set terms Monday on an initial public offering that could raise $130 million at midpoint of its expected price range, marking the last company to test investor appetite amid a midsummer uptick of IPOs.

  • July 25, 2016

    Why Demand For LP Co-Investments Continues To Rise

    Private equity interest in co-investment deals alongside their limited partners continues to rise in popularity, and experts say co-investments are only becoming more attractive as PE funds seek to take advantage of the benefits, including the strengthening of relationships with LPs and improved chances of successful fundraising in the future.

  • July 25, 2016

    Levenfeld Pearlstein Adds Corporate Pro From Katten Muchin

    Levenfeld Pearlstein LLC has boosted its corporate and securities practice with the addition of a former partner from Katten Muchin Rosenman LLP’s tax practice, the firm announced Friday.

  • July 25, 2016

    UK Venture Activity Slips In Wake Of Brexit

    Second quarter venture capital financings in the United Kingdom and Ireland fell as a proportion of all European activity to their lowest level since 2011, a new report shows, as investors pulled back amid uncertainty surrounding Britain’s departure from the European Union.

  • July 25, 2016

    Cybersecurity Startup Raises $150M For Growth, Platform

    Dallas-based cybersecurity firm StackPath, which is headed by the founder and former CEO of SoftLayer Technologies, has received a $150 million investment from private equity shop ABRY Partners, according to media reports and a Monday statement.

  • July 25, 2016

    Deals Rumor Mill: Ausgrid, Total, Tesla Motors

    At least a couple of suitors vying to buy Australia's $7.5 billion power network Ausgrid have placed their bids, a number of companies have interest in Total SA's $3.3 billion specialty chemicals unit Atotech, and Tesla Motors and SolarCity are moving closer to a merger.

  • July 25, 2016

    Philly Cab Cos. Say Appeal Planned For Uber Case

    The Philadelphia cab companies who sued Uber Technologies Inc. and Google Inc.’s venture capital arm dropped their last remaining claim Friday, saying they are planning instead to appeal a portion of the March federal court decision that dismissed most of their case.

  • July 25, 2016

    Hamilton Lane Closes Largest Fund-Of-Funds In Firm History

    Hamilton Lane Advisors LLC has closed its ninth private equity fund-of-funds with $516 million in capital commitments, the Pennsylvania-headquartered private investment firm said Monday, besting its initial fundraising target by more than $100 million and marking the largest fund-of-funds in its history.

  • July 25, 2016

    PE Giant Apollo Takes Redbox Operator Private In $1.6B Deal

    Funds affiliated with Apollo Global Management LLC have agreed to acquire Outerwall Inc. in a deal valued at roughly $1.6 billion, the companies said on Monday, adding the operator of Redbox movie rental kiosks to the private equity giant’s portfolio.

  • July 25, 2016

    Tilton Taps Clement For SEC Admin Court Fight In 2nd Circ.

    Private equity magnate Lynn Tilton swapped one high-profile legal team for another in her bid to revive her challenge to the U.S. Securities and Exchange Commission’s in-house court at the Second Circuit, filing a notice Monday that she has hired famed appellate lawyer Paul Clement after Gibson Dunn was booted from the case.

  • July 25, 2016

    E-Trade Pays $725M For PE-Backed OptionsHouse

    E-Trade Financial Corp. will buy the parent company of derivatives trading platform OptionsHouse LLC from private equity firm General Atlantic LLC for about $725 million cash in a deal guided by Skadden Arps Slate Meagher & Flom LLP and Paul Weiss Rifkind Wharton & Garrison LLP, the online trading giant said Monday.

  • July 25, 2016

    Yahoo Inks $4.83B Sale To Verizon, Ending Bidding Process

    Yahoo Inc.'s core business will be bought for $4.83 billion by Verizon Wireless Inc., the companies said Monday, marking the final chapter to a contentious activist campaign that has long pushed for a sale of the flagging tech giant.

  • July 22, 2016

    Taxation With Representation: MoFo, Davis Polk, Cooley

    This week’s Taxation With Representation sees Japanese companies expanding into the U.K. and the U.S. while two drug companies team up to develop and market cancer treatments.

  • July 22, 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 Reed Smith and Hogan Lovells at the helm. Here, Law360 recaps the ones you might have missed.

  • July 22, 2016

    Why Gibson Dunn Lost A Big Case To An Old Conflict

    Gibson Dunn apparently missed a relationship with a Second Circuit judge when it agreed to represent private equity magnate Lynn Tilton, a slip experts said was likely an honest mistake but shows the difficulties of recognizing conflicts decades after a former partner has moved on but retains firm ties.

  • July 22, 2016

    Kirby McInerney Wins Lead In $551M La Quinta Class Action

    A New York federal judge on Thursday named Kirby McInerney LLP lead counsel in a proposed class action alleging hotel chain La Quinta Holdings Inc., The Blackstone Group LLC and others failed to disclose a downturn in the chain’s financials ahead of the company's $550.8 million secondary public offering.

  • July 22, 2016

    L'Oreal To Buy US Brand IT Cosmetics In $1.2B Deal

    French cosmetics giant L’Oreal SA on Friday said that it will buy New Jersey-based IT Cosmetics LLC, a private equity-backed skin care and makeup company, for $1.2 billion in cash, in a deal that will bolster the company’s high-end beauty imprint.

Expert Analysis

  • Testing The UBE: Missouri Benefits From Uniform Bar Exam

    Jim Nowogrocki

    We in Missouri do not take lightly to new trends or frothy ideas. Yet, the uniform bar exam has allowed us to meet the challenges of an increasingly mobile legal profession and the changing needs of clients, and to ensure that a newly admitted attorney has the knowledge, character and fitness to practice in the Show-Me State, says Jim Nowogrocki, president of the Board of Law Examiners in Missouri — the first state to adopt the UBE.

  • Brexit: An Unexpected Boost For UK Commercial Real Estate

    Michael Speranza

    Brexit has presented increased opportunities for investment in the U.K. commercial real estate market and while there is some uncertainty regarding value, lenders are still making funds available for real estate acquisitions and development, says Michael Speranza at Katten Muchin Rosenman UK LLP.

  • Mitigating The Risk Of Post-Merger Legacy Board Factions

    Steven J. Steinman

    As occurred in the case of Cogentix, loyalties to the legacy constituent corporations of a merger can create serious issues for the ongoing governance and management of the post-merger corporation. The risk is heightened when the controller, former CEO or founder of the smaller constituent company continues as a director or manager of the merged company, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • A Return To Priced Equity Rounds

    David Sorin

    Convertible notes were never truly intended to replace the priced equity round, but they were born of necessity. If we can reduce the costs of priced equity rounds, we can better match form and substance, providing a happy medium for companies and the investors who support them, say attorneys with McCarter & English LLP.

  • Brexit Considerations For US Investment Fund Managers

    Lisa Cawley

    There are many well-established processes, such as migrating entities offshore and establishing parallel fund vehicles or alternative investment vehicles, that could easily be deployed or adapted by investment funds to fit any circumstances that arise from the exit of the U.K. or any other member state from the EU, say Lisa Cawley and Adam Skinner of Kirkland & Ellis International LLP.

  • How Law Firms Can Create Next-Generation Office Spaces

    Tere Blanca headshot (1).jpg

    Law firms today are recognizing that the process of creating a next-generation workplace is far more complex than relocating to a more modern space in a trendier part of town. The challenge is more significant for larger firms with multiple generations represented within their executive teams, says Tere Blanca, founder of Miami-based Blanca Commercial Real Estate Inc.

  • Selling Your Twinkie And Eating It Too

    Alan S. Kaden

    Less than four years after Twinkie maker Hostess Brands was in bankruptcy, the company’s current owners recently agreed to sell interests in Hostess to a special-purpose acquisition company in a deal that involves a "tax receivable agreement" — a growing trend in which tax attributes of the target company are monetized for sellers’ benefit, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • China Opens Up To Wholly Foreign-Owned E-Commerce Cos.

    David Livdahl

    China recently issued its first value-added telecommunications operation license to a wholly foreign-owned e-commerce company, but foreign e-commerce businesses interested in investing in China should keep certain practical issues in mind, say attorneys at Pillsbury Winthrop Shaw Pittman LLP.

  • Crestwood Highlights Potential For Activism Without Leverage

    Gail Weinstein

    When Raging Capital Management approached energy company Crestwood Equity Partners with recommendations for improving the company’s unit market price, Crestwood took steps to address most of the activist’s recommendations. What was unusual was that the activist was successful despite having no source of leverage, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Investors Must Better Utilize Delaware’s Appraisal Process

    Michael Lange

    Michael Dell and his management team underpaid investors by about $6 billion in a Dell Inc. take-private deal, but the company is only paying $37 million more to dissenters as a result of a Delaware court decision. Why? Most investors failed to timely exercise their appraisal rights, say Michael Lange and Brian Shea of Financial Recovery Technologies LLC.