UBS AG has reportedly inked a deal to buy a $260 million Washington, D.C., office building, while Blackstone Group LP is buzzed to have a $150 million residential and retail project in California in the works and the late Michael Jackson's Neverland Ranch is reportedly on the market for $100 million.
A real estate fund of private equity firm Lone Star Funds has scored €120 million ($131.6 million) in financing for its recent purchase of a portfolio of office and retail properties across several European countries, the underwriters of the loan announced on Thursday.
A Delaware Chancery judge on Wednesday tossed a shareholder suit accusing private equity investors in rare earth mining company Molycorp Inc. of making a personal profit by selling their own shares of the company when the company needed capital.
A trio of private equity firms are said to be among the frontrunners to acquire a General Electric Co. unit that funds leveraged buyouts, while the infrastructure arm of Australian banking giant Macquarie Group Ltd. is shopping around a potential sale of Moto Hospitality Ltd.
A Delaware bankruptcy judge agreed Thursday to approve casual restaurant chain Saladworks LLC's $16.9 million sale to a unit of private equity firm Centre Lane Partners LLC after no suitors came forward to best the stalking horse bid.
Private equity firm Oak Hill Capital Partners said Wednesday that it will further reduce its stake in restaurant operator Dave & Buster’s Entertainment Inc. with a public offering worth $267 million.
Las Vegas Sands Corp. urged shareholders Thursday to reject a private investor’s below-market $119.1 million bid for roughly 0.31 percent of the casino company, saying the U.S. Securities and Exchange Commission has issued a warning about similar mini-tender offers.
Private equity-backed Ironshore Inc. formally withdrew plans for an initial public offering Thursday, after the U.S. insurance group inked a $1.83 billion buyout by Fosun International Ltd., its largest shareholder.
NXP Semiconductors NV said Thursday it will shed its radio frequency power amplification business in a $1.8 billion deal with Chinese government-owned Jianguang Asset Management Co. Ltd. to help seal its proposed purchase of private equity-backed Freescale Semiconductor Ltd.
Private equity outfit Apollo Global Management LLC has agreed to pay $300 million for a minority stake in CH2M Hill Inc., the companies said Thursday, giving the infrastructure and natural resources solutions firm a capital injection that is expected to bolster growth and help reduce debt.
Private equity firm Cinven on Thursday said that it plans to buy Labco SA, in a deal valued at €1.2 billion ($1.3 billion), after the European medical diagnostic services provider scrapped plans for an initial public offering earlier this month.
A lawyer who took payments from Winsome Investment Trust founder Robert J. Andres, admitted maestro of a $72 million Ponzi scheme, can be sued for the cash, the Tenth Circuit ruled on Wednesday, batting away jurisdictional challenges and affirming a Utah district court decision.
With so much M&A news this week, you may not have seen some announced deals involving several law firms including Baker Botts, Jones Day, Simpson Thacher and Akin Gump. Here, Law360 takes a look at the ones you might have missed.
An Illinois federal judge on Tuesday approved an $8.25 million settlement between a class of former real estate trust shareholders and Five Mile Capital Partners LLC, ending a suit that alleged Five Mile breached its fiduciary duties when it merged with a real estate investment trust.
New York private equity firm Cortec Group said Wednesday that it has closed its latest fund after raking in $1.1 billion in capital commitments to invest in middle-market and high-growth companies.
Flipboard Inc. is reportedly being courted by Internet giants Google Inc. and Yahoo Inc., which have had early discussions on potentially acquiring the newsreader app, while private equity firm Warburg Pincus LLC gears up to unload $341 million worth of shares in China's largest auto rental company.
A bankruptcy judge on Wednesday extended Caesars Entertainment Operating Co.’s exclusive window to propose a reorganization plan and rejected a creditor bid to unseat Kirkland & Ellis LLP as its counsel, keeping the embattled casino giant squarely in the driver’s seat of its Chapter 11 case.
PennTex Midstream Partners LP, a master limited partnership affiliated with private equity investment funds of Natural Gas Partners, set terms Tuesday to rake in $225 million in its initial public offering, as MLPs continue to draw strong investor interest.
Two venture capital-backed medical device companies — gastrointestinal endoscopy system maker EndoChoice Holdings and robotic surgical arm maker Corindus Vascular Robotics Inc. — set terms Tuesday, laying the groundwork to together draw $147 million before listing on the New York Stock Exchange.
The Securities Industry and Financial Markets Association urged Delaware’s top court Tuesday to free RBC Capital Markets LLC from liability for its advice on the private equity buyout of ambulance operator Rural/Metro Corp., arguing the lower court misconstrued the role financial advisers play.
Enforcement activity in the first half of 2015 indicates that the U.S. Securities and Exchange Commission is on track for another strong year of new enforcement actions filed, with the vast majority of its enforcement cases being brought as administrative proceedings. This shift could prove burdensome for financial fraud defendants, say analysts at Cornerstone Research.
On the heels of the U.K. Bribery Act of 2010 — a close copy of the U.S. Foreign Corrupt Practices Act — the United Kingdom has now taken cues from another novel U.S. enactment, this time the California Transparency in Supply Chains Act, and delivered its own disclosure regime on the doorsteps of the international business world, say attorneys with Perkins Coie LLP.
The recently settled Alpha Titans LLC case reinforces the increased scrutiny by the U.S. Securities and Exchange Commission on private funds' management company expense allocations, and the SEC’s concerns regarding other abuses that may arise from expense allocations, say attorneys with Mayer Brown LLP.
It has become all too common in transaction-related stockholder litigation for the pleading net to be cast widely, embroiling disinterested and independent directors into long and costly litigation. The Delaware Supreme Court's decision in the case of Cornerstone Therapeutics Inc. should lead to closer scrutiny of allegations against individual directors, say attorneys with Paul Hastings LLP.
In its recent guidance on forum selection, the U.S. Securities and Exchange Commission missed a golden opportunity — instead of addressing the legitimate and widespread criticism of its increasing use of the administrative forum, the SEC dodged the key issues and failed to make the forum selection process fairer to defendants, say attorneys with Crowell & Moring LLP.
The U.S. Department of Labor’s proposed rules expanding the circumstances under which a person is considered a fiduciary under the Employee Retirement Income Security Act would effectively deny sophisticated but smaller ERISA plans and individual retirement account investors the opportunity to access private investment funds as part of their portfolios, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
While parties that lobby in the United States are generally subject to mandatory lobbyist registration and reporting obligations at every level of government, parties that lobby European Union institutions traditionally have only been subject to a “voluntary” registration and disclosure regime. That gap now appears to be closing, say attorneys with Allen & Overy LLP.
There has been a rapid and robust growth in the number of companies offering electronically stored information collection, management and processing services. But a recent survey indicated that not all service providers offer the level of expertise needed in today’s world of big data, the cloud and mobile devices, says Barry O’Melia, chief operations officer at Digital WarRoom.
The Delaware Supreme Court’s recent decision in Lazard Technology Partners LLC v. Qinetiq North America Operations LLC upholds the literal meaning of an earnout provision, and suggests that a target’s reliance on the implied covenant of good faith and fair dealing to save it from “losses at the negotiating table” is a tenuous strategy, say David Healy and Douglas Cogen of Fenwick & West LLP.
Coupled with other recent developments, the Southern District of New York decision in the Chapter 11 case of MPM Silicones LLC, or Momentive, may suggest a turn toward harsher treatment of secured lenders in bankruptcy, say Ron Meisler and Christopher Dressel of Skadden Arps Slate Meagher & Flom LLP.