Private Equity RSS

  • April 16, 2014

    Deals Rumor Mill: Warburg Pincus, Ahli, Michael Foods

    Warburg Pincus is in advance talks to buy Electronic Funds Source in a deal that values the company at more than $1 billion, while Bahrain's largest lender is considering a $5 billion sale or merger with a rival bank that could be the largest banking transaction in the region for the past 20 years.

  • April 16, 2014

    Triton Doles Out $1.8B For GEA's Heat Exchangers Unit

    European private equity investor Triton Advisers Ltd. will buy German industrial machinery maker GEA Group AG's heat exchangers division for €1.3 billion ($1.8 billion), the companies said Wednesday, in a move that GEA said will allow it to refocus on core businesses.

  • April 16, 2014

    Fortress, Avenue Founders Pay $550M For NBA's Bucks

    The NBA's Milwaukee Bucks will be sold for $550 million to Fortress Investment Group founder Wesley Edens and Avenue Capital Group co-founder Marc Lasry, and plans to build a new stadium for the franchise are in the works, the team's president and owner Herb Kohl said Wednesday.

  • April 16, 2014

    FTC Gives Go-Ahead To TPG's $1.8B Jonah Field Deal

    The Federal Trade Commission granted early termination to the required waiting period for private equity giant TPG Capital LP’s planned acquisition of Encana Corp.’s natural gas properties in Wyoming’s Jonah Field for $1.8 billion, according to a brief notice Tuesday.

  • April 16, 2014

    Carlyle Group Closes Nearly $700M Sub-Saharan Africa Fund

    Washington, D.C.-headquartered alternative asset manager The Carlyle Group said on Wednesday that it has closed its Carlyle Sub-Saharan Africa Fund with a total of $698 million, almost $200 million more than the fund's initial target of $500 million.

  • April 16, 2014

    Johnson Controls Pays $1.6B For Air Distribution Technologies

    Johnson Controls Inc. said Wednesday that it will acquire Air Distribution Technologies Inc., one of the largest air distribution and ventilation products providers in North America, from the Canada Pension Plan Investment Board for approximately $1.6 billion, bolstering its position in the buildings market.

  • April 15, 2014

    Ind. Limestone Goes With PE Firm's $26M Stalking Horse Bid

    Bankrupt quarrier Victor Oolitic Stone Co., which does business as Indiana Limestone Co., canceled the scheduled Chapter 11 auction and is set to go with the $26 million stalking horse offer from a unit of private equity firm Wynnchurch Capital, an attorney for the debtor said Tuesday.

  • April 15, 2014

    Judge Won't Toss Suit Over $250M Erickson Air-Crane Deal

    A Delaware Chancery judge declined Tuesday to dismiss claims brought by a shareholder of aircraft company Erickson Air-Crane Inc. that alleged the company's private equity majority stakeholder engineered a $250 million deal to buy a unit of Evergreen International Aviation Inc. at minority stockholders' expense.

  • April 15, 2014

    The Great Persuader: 7th Circ. Chief Judge Diane Wood

    Seventh Circuit Chief Judge Diane Wood talks to Law360 about managing a court in crisis, surviving two U.S. Supreme Court near-misses, and tailoring crafty dissenting opinions that can change the mind of even the staunchest of ideological opponents.

  • April 15, 2014

    Caelus Partners With Apollo On Alaskan Oil And Gas Buys

    Dallas-based Caelus Energy LLC on Tuesday said it has partnered with private equity giant Apollo Global Management LLC to invest in Alaskan oil and gas properties as Caelus seeks to build up an independent exploration and production business in resource-rich Alaska.

  • April 15, 2014

    W Capital, Shamrock To Build Tower On Miami Hotel Site

    A private equity-backed joint venture of W Capital Group and developer Shamrock Holdings has scooped up a former Miami Beach hotel site from a Lehman Bros. affiliate and plans to build a new luxury residential tower next to an existing resort, broker CBRE Hotels said Tuesday.

  • April 15, 2014

    Activists Eye Inversion Deals As New Bargaining Chip

    A group of Walgreen Co. investors recently urged the drug store chain to consider moving its longtime U.S. headquarters to a more tax-friendly jurisdiction, and experts say companies should brace themselves for an influx of sophisticated shareholder activists angling for similar structural changes.

  • April 15, 2014

    Deals Rumor Mill: ConMed, GEA Group, Telefonica

    Onex Corp. and Cineplex Inc. may join forces to snap up arcade and restaurant chain Dave & Buster’s Inc., while ConMed is exploring a sale amid pressure from activist investors.

  • April 15, 2014

    EU Clears Deutsche Telekom's $733M GTS Central Europe Buy

    European antitrust regulators on Tuesday approved Deutsche Telekom AG's plan to buy telecommunications provider GTS Central Europe from a group of private equity firms for €546 million ($733.7 million), finding the resulting company would face sufficient competition from rival telecommunications companies.

  • April 15, 2014

    Aaron's Spurns $2.3B Buyout Bid, Inks $700M Acquisition

    Rent-to-own retailer Aaron's Inc. has rejected — and filed suit over — a $2.3 billion takeover offer from private equity firm Vintage Capital Management LLC and instead bolstered its asset portfolio by acquiring a retail credit financing firm for $700 million, the company announced Tuesday.

  • April 15, 2014

    Koppers Puts Up $460M For Osmose's Wood, Rail Units

    Carbon goods maker Koppers Inc. on Monday agreed to acquire Osmose Group Holdings' wood preservation and railroad services businesses for $460 million.

  • April 15, 2014

    Elliott Reaffirms Spurned $3.4B Bid For Riverbed

    New York-based Elliott Management Corp. on Tuesday reaffirmed its all-cash takeover offer for Riverbed Technology Inc., publicly nudging the computer equipment maker more than a month after it spurned Elliott's sweetened $3.36 billion buyout bid.

  • April 14, 2014

    Manatt Nabs Another K&L Gates Atty For Capital Markets Team

    Manatt Phelps & Phillips LLP said Monday it has picked up an attorney from K&L Gates LLP with expertise in mergers and acquisitions and in securities, private equity and finance matters, to reinforce its capital markets practice in Los Angeles.

  • April 14, 2014

    Loeb Rips Sotheby's Board Over Performance Claims

    Activist investor Daniel Loeb continued to escalate his battle with Sotheby’s on Monday by releasing an investor presentation on why his hedge fund should obtain three board seats, saying Sotheby's financial performance is unacceptable despite management's rosy claims.

  • April 14, 2014

    Clean Energy Investment Up 14% In Q1, Report Says

    Clean energy investment grew to $61 billion in the first quarter of 2014, a 14 percent increase from the same quarter last year, according to a Monday report by analyst Clean Energy Pipeline.

Expert Analysis

  • Is The Fog Around Finders Lifting?

    Kenneth G.M. Mason

    The regulatory world of when and whether a U.S. person can raise capital and receive transaction-based compensation without registering as a broker-dealer has been murky. But the U.S. Securities and Exchange Commission’s aggressive stance on when finders have to register as broker-dealers has recently encountered judicial disavowal by courts, which has helped clarify certain compensation issues, say Kenneth Mason and Sharon Obialo of Kaye Scholer LLP.

  • Reading Between The Whistleblower Headlines

    Shanti Atkins

    The meteoric media rise of the “celebrity” whistleblower has shone a spotlight on the practice, with personalities such as Chelsea Manning and Edward Snowden dividing public opinion on the ethics of spilling secrets. But organizations should pay close attention to the surge in this trend beyond the headlines. Remember, whistleblowers don’t need to be popular to be effective, and opinions on their motives and morality are entirely secondary to the critical issues they potentially uncover, says Shanti Atkins of Navex Global.

  • Heartbleed Rains On The Legal Cloud Parade

    David Houlihan

    While the actual breaches are unknown, Heartbleed has the potential to expose all of a lawyer's files stored or transmitted online. The bug raises professional responsibility questions and offers confirmation of the greatest anxieties that the legal industry has about online practice. In fact, the timing is poor for many legal tech providers, following a general industry warming to cloud offerings, says David Houlihan of Blue Hill Research Inc.

  • A New Approach To Classified Corporate Boards

    Philip Richter

    As institutional investors and proxy advisory firms push forward with the declassification movement, corporate governance constituencies might consider developing a modified classified board structure that could result in preserving the structure’s value-enhancing benefits while addressing shareholders’ concerns about board accountability, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Calif. Ruling May Hike PE Fund Founders' Tax Liabilities

    Jennifer A. Ray

    A recent California ruling, treating a private equity fund founder’s income streams from the fund and its management company as separate, may not have a large practical impact where the management company receives only the management fee and not the carry. A much larger impact may occur if the same logic applies to the general partner structure and carry as well, say David Fischer and Jennifer Ray of Crowell & Moring LLP.

  • Not 'Fully Protected' — What’s A Director To Do?

    Peter Allan Atkins

    A footnote in the Delaware Court of Chancery’s Rural Metro decision starkly spotlights the visceral trouble spot in the enhanced-scrutiny paradigm — that even the conscientious director who does everything right may still be branded as breaching fiduciary duty. This is particularly troubling in the context of a statutory promise that directors will be “fully protected” if they conscientiously comply, says Peter Allan Atkins of Skadden Arps Slate Meagher & Flom LLP.

  • Keep Your Audience From Checking Email: 5 Legal Talk Tips

    Michael H. Rubin

    Why do the majority of speakers get polite claps at the end of their talks while a few select others receive rousing applause? Having given more than 375 presentations to legal groups, bar associations, Fortune 500 companies and corporate gatherings, I’ve learned a few things about what not to do. Remember, great speakers don’t tell “war stories.” They don’t even give examples from their own practice, says Michael Rubin of McGlinchey Stafford PLLC.

  • Priorities Change When An Investment Firm Goes Belly Up

    Stephen Bedell

    A Seventh Circuit opinion in a dispute related to the Sentinel Management Group bankruptcy reinforces the importance of the portability of investment accounts carrying commodity customer funds, and recognizes the choice made by Congress to prioritize the stability of the financial markets ahead of other creditors when an investment firm becomes insolvent, say attorneys with Foley & Lardner LLP.

  • Tax Reform's Pension Fund Surprise For PE Industry

    Christian M. McBurney

    In light of Dave Camp’s draft tax reform legislation, state and local government pension plans that make future investments in private equity funds may wonder if they should have the flexibility to move their investments to “blocker” entities that would prevent unrelated business taxable income from passing through to them. The problem with a U.S. blocker, however, is that it will be liable to tax on all of its income and gains, which will substantially reduce the investor’s post-tax return, say Christian McBurney and Michael Cooney of Nixon Peabody LLP.

  • Own 10% Of A Foreign Business? Don't Neglect BEA Surveys

    Amy E. D'Agostino

    Last month, I received a stack of express mail over a foot deep from the Bureau of Economic Analysis, which has statutory authority to collect vast amounts of data on certain international investments in the U.S. and abroad. The girth of the envelopes highlights the need for a compliance update — especially since the potential penalties for noncompliance include fines and potential jail time for officers, directors, employees or agents, says Amy D'Agostino of Chadbourne & Parke LLP.