Outdoor equipment maker Blount International's top brass conspired with Goldman Sachs to craft an $855 million proposed sale of the company that benefited only themselves, a pension fund alleged Wednesday in Delaware Chancery Court.
First Reserve Corp., an energy-focused private equity and infrastructure investment firm, announced on Thursday that it has purchased the $350 million Mariah North Wind project in northern Texas from Mariah Acquisition LLC for undisclosed terms.
Lenders holding most of the first-lien debt in Caesars Entertainment’s bankrupt operating unit said Wednesday in Illinois court that they will support the business’s request for additional breathing room as it looks to restructure its debt, but indicated that negotiations with financial stakeholders have stalled and that their patience is “wearing thin.”
Pandora Media Inc. is mulling a sale that could value the music streaming service at $1.79 billion, Chinese officials are pushing for a dual listing of Saudi Arabian Oil Co. in Saudi Arabia and Hong Kong, and Takata Corp. is looking to sell its automotive interiors business.
Florida-based, private equity-backed solid waste company Advanced Disposal Services said Wednesday that it has delayed a planned $450 million initial public offering because of weak market conditions, becoming the latest planned float to sink under the weight of volatility.
A shareholder bid for a $100 million corrective addition to the $4.2 billion Tibco Software Inc.-Vista Equity Partners merger won new life late Wednesday with a Delaware Chancery Court decision to accept an amended complaint in a dispute over the purchase price.
India-based information technology and consulting company Wipro Ltd. has agreed to buy insurance industry software provider HealthPlan Services Inc. from health care-focused private equity firm Water Street Healthcare Partners for $460 million, the companies said on Thursday.
JetBlue said Thursday it has launched a new Silicon Valley-based venture capital unit that will make investments in early-stage startups focused on technology, travel and hospitality, as the airline looks to remain innovative on the 16th anniversary of its first flight.
Texas private equity firm Natural Gas Partners has agreed to plug $150 million into Black Mountain Oil & Energy LLC, an energy company also based in the Lone Star State that explores conventional and unconventional oil and gas reservoirs, the companies said on Thursday.
Mayer Brown LLP said Thursday it has hired the leader of Reed Smith LLP’s European and Middle Eastern private equity practice to join its London office as part of a broader push to strengthen the firm’s private equity offerings.
A $1.2 billion clean energy transmission project backed by Blackstone Group LP recently cleared another hurdle, when the U.S. Army Corps of Engineers permitted the cables' placement in any U.S. waters along the proposed Canada-to-Vermont route.
KKR & Co. LP said Wednesday that it has invested $75 million in commercial real estate lender A10 Capital, joining a list of private equity giants that have thrown their weight behind the company.
Siemens AG and Gamesa Corp. are on the verge of merging their wind power businesses, Eni SpA is looking into selling $2.3 billion worth of gas and power retail assets, and Italy's billionaire Benetton family is seeking ways to grow its Autogrill restaurant chain.
Carrington Coleman Sloman & Blumenthal LLP on Tuesday announced that it has strengthened its corporate transaction and counseling services with the addition of a former general counsel to BearingPoint and Affiliated Computer Services Inc. as a partner in Dallas, with expertise in the areas of banking, securities, private equity and technology, among others.
Riverside Partners told an Ohio federal judge on Tuesday that a defunct herb farmer suing the private equity firm over a supplier contract it had with one of its portfolio companies is targeting the wrong party, and that claims against it should be dismissed.
Private equity-backed food distributor US Foods and two life sciences companies are planning to go public in the U.S., venturing into a volatile market that has recently seen some companies nix their initial public offering plans, according to regulatory documents filed Tuesday and Wednesday.
Foley & Lardner LLP has nabbed a prominent tax attorney from Buchalter Nemer PLC as a new partner in the Milwaukee-based international law firm’s Los Angeles office, Foley announced Tuesday.
Milwaukee-based private equity firm Mason Wells said this week the company had exceeded its $550 million goal for its fourth fund, obtaining $615 million in commitments from institutional investors for acquiring medium-sized Midwestern companies.
ThinkingPhones, a Massachusetts company that provides cloud-based voice, video and other communications services to businesses, said Tuesday that it has pulled in $112 million in new funding led by private equity investors, the same day it rebranded itself as Fuze.
Barnes & Thornburg LLP has added more than three decades of broad business, transactions and private equity experience to its growing Atlanta office with the addition of a partner from Ballard Spahr LLP.
From the days of divesting assets from companies doing business in apartheid-era South Africa and withholding investments to protest Big Tobacco, values-based investing has come a long way. With impact investing, investors are now seeking to use the markets to solve the toughest challenges of our time, says Avisheh Avini of Mintz Levin Cohn Ferris Glovsky and Popeo PC.
Companies — and their investors — continue to face a myriad of risks associated with uncertainty over future regulatory developments concerning the marijuana industry. As large states like California and Ohio prepare for legalization initiatives, however, the trend toward increasing liberalization and associated comfort levels of investors seems likely to continue, say John Bessonette and Tai Aliya of Kramer Levin Naftalis & Frankel LLP.
Analyzing the reasons why clients choose certain firms reveals a great deal about what is important and valued in the marketplace. Based on interviews with a random sample of over 600 heads of legal in the largest U.S. organizations, Elizabeth Duffy, vice president of Acritas US Inc., identifies the core brand drivers of Skadden Arps Slate Meagher & Flom LLP.
In a recent Law360 article it was suggested that promotion to partner was a competition between associates and that taking maternity, paternity or family medical leave could impact an associate's chances at promotion. But this sort of ethos — which may have contributed to law firms’ success in the past — is not the best way to secure the industry's future, says Daniel Butcher, managing partner of Strasburger & Price LLP.
The marketplace lending industry continues to mature and the regulatory landscape continues to evolve to address the unique challenges it poses. Anthony Nolan and Edward Dartley of K&L Gates LLP discuss some federal securities law considerations that are critical to the structures and business models of online marketplaces and their interactions with investors.
Where a perceived conflict is identified early in the process, a party may consider asking the forum overseeing an arbitration to determine whether it is appropriate for an arbitrator to serve on the panel. Despite the potential opacity of these kinds of decisions, discussions with practitioners and experience suggest that such challenges can arise from a number of situations, says Kirkland & Ellis LLP partner Matthew Solum.
The Delaware courts generally apply the heightened scrutiny standard under Unocal to review challenged board actions taken in response to a perceived corporate control threat. The recent case of Ebix provides another example that the courts disfavor actions that restrict the basic right of stockholders to vote, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
After more than 50 structured conversations with health care private equity and investment banking professionals at the recent J.P. Morgan health care conference, we can conclude that there is a deep — almost ubiquitous — interest in finding and structuring the next provider services consolidation, say attorneys with McGuireWoods LLP.
The strict rules passed by European authorities in 2009 to curtail conflicts of interest resulting from the simultaneous holding of transmission and production interests are often perceived as stymieing energy investment. Investors will need to make a convincing case, through detailed and effective mechanics, that the risk for conflict of interest and undue influence is properly contained, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
Those of us who have been in Silicon Valley long enough see the signs for an upcoming rash of down-round financings for some private companies, unicorns or otherwise, and many investors may decide to sell a company before all of its “inflated” value has drained. Situations like this call to mind the 2013 Trados decision — which gives insight into a board’s fiduciary duties, says Priya Cherian Huskins of Woodruff-Sawyer & Co.