Private Equity

  • August 28, 2015

    Capella Co-Founder Says PE Firm Cut Him Out Of $900M Sale

    GTCR LLC was hit with a lawsuit Friday over its $900 million sale of Capella Healthcare Inc. to Medical Properties Trust Inc. by one of the company’s founders, who said the Chicago-based private equity outfit breached its fiduciary duty and diluted his shares.

  • August 28, 2015

    Carlyle In Talks To Buy UK Insurance Software Co. For $755M

    Innovation Group PLC, a business services and software provider for the insurance sector, confirmed Friday that it is in advanced talks with private equity giant The Carlyle Group LP on a potential takeover offer that could value the U.K. company at approximately £491 million ($755 million).

  • August 28, 2015

    Carlyle Buys Security Solutions Co. From Arlington Capital

    Private equity firm The Carlyle Group LP has agreed to buy software and IT services provider Novetta Solutions LLC from Arlington Capital Partners in a transaction guided by Latham & Watkins LLP, the two companies said Thursday.

  • August 28, 2015

    Deals Rumor Mill: Baxalta, Worldpay, Qihoo 360

    Baxalta Inc. is in talks to buy Ariad Pharmaceuticals Inc., Ingenico Group has joined a growing list of bidders for Worldpay Ltd., and the group that offered to buy Chinese Internet security company Qihoo 360 Technology Co. Ltd. for $9 billion might drop its bid.

  • August 28, 2015

    Sage Group Says Suit Over Axed MYOB Bid Has Been Tossed

    U.K. accounting software giant The Sage Group PLC said on Friday that a lawsuit brought in 2011 by MYOB Ltd. shareholders over its aborted bid for the Australian software company has been tossed.

  • August 28, 2015

    Brown Rudnick, Foulston Guide $100M Henley-WaterWalk Deal

    Brown Rudnick LLP represented U.K. private equity real estate firm Henley Investments in its $100 million agreement, announced on Friday, with Foulston Siefkin LLP-counseled WaterWalk Hotel Apartments to build five WaterWalk franchise properties on the East Coast.

  • August 27, 2015

    Ex-Weil Shanghai M&A Pro Joins O'Melveny In Southern Calif.

    O'Melveny & Myers LLP said Thursday that a former Weil Gotshal & Manges LLP mergers and acquisitions, private equity and securities pro from China has joined its Orange County, California, office as a partner serving technology, media and telecommunications clients.

  • August 27, 2015

    Santa Fe Gold Gets Nod For Interim DIP To Advance Ch. 11

    A Delaware bankruptcy judge on Thursday cleared Santa Fe Gold Corp. to tap some of the $21.7 million in post-petition financing it has lined up with senior creditor Waterton Global Value LP in a proposal that would roll up a significant portion of its prepetition debt.

  • August 27, 2015

    Dole Ruling Weaves A Cautionary Tale For Take-Private Deals

    The $148 million in damages levied by the Delaware Chancery Court on Thursday against Dole Food Co. Inc. CEO David Murdock and General Counsel C. Michael Carter is a stark reminder of the risks associated with navigating the murky waters of a take-private deal led by a majority shareholder, serving as a cautionary tale to deal-makers and their advisers, experts say.

  • August 27, 2015

    Deals Rumor Mill: Tesco, Nippon Life Insurance, Dalian Wanda

    MBK Partners and Temasek Holdings could pay $5.9 billion for Tesco PLC's South Korean unit, Nippon Life Insurance Co. may pay $2.5 billion for National Australia Bank Ltd.'s insurance business, and The Dalian Wanda Group Co. Ltd. hopes to raise $1.9 billion through a share listing.

  • August 27, 2015

    Quick Judgment Eludes Trustees In $7B Caesars Debt Suits

    A Manhattan federal judge on Thursday denied summary judgment to trustees BOKF NA and UMB Bank NA in their attempts to force Caesars Entertainment Corp. to make good on $7 billion in Caesars Entertainment Operating Co. notes, finding discovery is needed to find out if the casino concern's private equity owners restructured the bankrupt subsidiary's debt in ways that impaired lenders' rights.

  • August 27, 2015

    Debevoise's DQ Sought In $610M Culligan Buyout Row

    Shareholders suing private equity firm Clayton Dubilier & Rice LLC and others over a $610 million leveraged buyout of water treatment product company Culligan Ltd. have sought to disqualify defense-side counsel Debevoise & Plimpton LLP over its alleged involvement in underlying transactions.

  • August 27, 2015

    Greatbatch To Buy Lake Region Medical In $1.7B Deal

    Greatbatch Inc., a Texas-based medical technology company, said Thursday it has agreed to buy privately held Lake Region Medical Inc. in a cash-and-stock deal valued at $1.73 billion including debt, which will more than double its size.

  • August 27, 2015

    Singapore's OCBC Closes $393M Private Equity Fund

    Singapore’s Oversea-Chinese Banking Corp. Ltd. and its asset management subsidiary Lion Global Investors have closed its first private equity fund with external investor participation, raising SG$550 million ($393 million) for investments in small and medium-sized companies in Singapore, Malaysia, Indonesia and China, the bank said Thursday.

  • August 27, 2015

    Dole CEO, GC Ordered To Pay $148M For Merger Fraud

    The Delaware Chancery on Thursday found Dole Food Co. Inc. CEO David Murdock and General Counsel C. Michael Carter liable to investors to the tune of $148 million for fraud intended to drive the company's price down ahead of Murdock's 2013 go-private deal.

  • August 26, 2015

    Jones Day Reps Cardinal Health In $290M Buy Of NaviHealth

    Health care services company Cardinal Health, guided by Jones Day, said Tuesday it has agreed to buy a majority stake in private-equity backed NaviHealth for $290 million cash, acquiring a larger stake in growing the post-acute care business.

  • August 26, 2015

    Deals Rumor Mill: China Cinda, Quatrro Global, Puerto Rico

    China Cinda Asset Management Co. could pay up to $8.8 billion for Bank of China Hong Kong Holdings Ltd.’s Nanyang Commercial Bank unit, Quatrro Global Services is selling a stake for $500 million, and the Puerto Rico Aqueduct and Sewer Authority is delaying a $750 million bond sale.

  • August 26, 2015

    PE-Backed Wound Care Co. Acelity Readies IPO Plans

    Texas-based Acelity Holdings Inc., a regenerative medicine company, kicked off plans Wednesday for an initial public offering, making its way through the pipeline about four years after it was bought out by Apax Partners LP and two Canadian pension funds for $6.8 billion.

  • August 26, 2015

    Real Estate Rumors: CIM, US Bank, Multi-Employer Property

    CIM Group has reportedly bought a Chicago office tower from Goldman and Golub & Co., while US Bank is said to have loaned $65 million for a project to convert a Minneapolis office property to a hotel, and Multi-Employer Property Trust has reportedly picked up an Illinois mall for nearly $28 million.

  • August 26, 2015

    Dallas PE Firm Closes $446M Inaugural Oil, Gas Fund

    The newly launched Edge Natural Resource LLC on Wednesday announced the closing of its first private equity fund after raising $445.7 million, which will be invested in North American gas and oil.

Expert Analysis

  • Private Equity In Iran: Opportunity Or Pandora's Box?

    Amanda Onions

    Tehran's hotels are said to be full, and foreign investors may be bargain hunting in the region, hoping to cash in on an economy that has been rewarding its predominantly domestic equities investors handsomely. However, none of the sanctions on the country have been lifted yet, says Amanda Onions of Hogan Lovells.

  • A Likely Fatal Blow To Republicans' Pay-To-Play Challenge

    Raymond M. Sarola

    The D.C. Circuit’s opinion this week shooting down the New York and Tennessee Republican parties’ First Amendment challenge to the SEC’s pay-to-play rule contains strong and convincing language that the lawsuit is untimely. The opinion also suggested that the D.C. Circuit may not view the ultimate merits of the challenge favorably, says Raymond Sarola, associate at Cohen Milstein Sellers & Toll PLLC and a former policy adviser in t... (continued)

  • Key Online Lending Takeaways As Regulators Assess Industry

    Christopher L. Allen

    Regulators are assessing what a well-calibrated online lending regulatory framework may look like — one that balances greater access to credit with appropriate risk management and borrower protections. This may impact investments relating to online lending and the M&A opportunities available to strategically acquisitive bank and nonbank lenders, say attorneys with Arnold & Porter LLP.

  • Equitable Mootness May Be Alive And Well In 3rd Circ.

    Bruce D. Buechler

    In a recent Third Circuit opinion in the case of Tribune Media Co., Judge Thomas Ambro authored a concurrence that appears to imply that Third Circuit Judge Cheryl Krause’s opinion in One2One Communications LLC calling for the overturning of the equitable mootness doctrine is not shared, says Bruce Buechler of Lowenstein Sandler LLP.

  • Europe's AIFMD Passport — And Why It Must Try Harder

    Stephen G. Sims

    Unfortunately, two recent, eagerly anticipated regulatory papers gave little encouragement that it will get any easier under the Alternative Investment Fund Managers Directive regime for funds located in jurisdictions such as the U.S. and the Cayman Islands to market to European Union professional investors in the near future, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • How Regulation A Can Help M&A Practitioners

    Peterson_Christopher_KayeScholer.jpg

    Regulation A may be particularly useful in circumstances where a potential acquirer wants to issue equity securities without registration but the facts of the proposed acquisition limit the availability of the Regulation D exemption, says Christopher Peterson of Kaye Scholer LLP.

  • Beware False Positives In Statistics-Based SEC Actions

    Tiago Duarte-Silva

    The U.S. Securities and Exchange Commission recently charged an investment adviser with illegal allocation of trades based on statistical results, implying that statistically eliminating chance for certain profitable trades proves a fraudulent motive. However, that is not always the case, and one should not base “intent” on statistical analyses, say members of Charles River Associates and Zaccaro Morgan LLP.

  • Top 5 Ways To Help A Law Professional Land A Job

    Mark Newall

    It is a hard truth, but a law degree is a tough thing to have nowadays. Overloaded with thousands of dollars in debt and only a few job prospects that require a law license, many law graduates are looking for ways to manage their careers. We suggest some proven methods to amplify and accelerate your job search, says Mark Newall of Essex Partners Legal.

  • SEC's Dating Advice For Internet Platforms And Its Impact

    Jeffrey A. Clopeck

    For Internet platforms offering private placements and eager to keep the momentum with potential investors they meet online, the U.S. Securities and Exchange Commission’s recent recognition that a 30-day waiting period is not necessary for forming substantive, pre-existing relationships will be welcome news. At the same time, many platforms will have to step up their game, say attorneys with Day Pitney LLP.

  • Mediation — Panacea Or Placebo?

    William F. Krebs

    Just as trial by jury thankfully replaced trial by combat, many people see alternative dispute resolution as a less fiscally bloody substitute for trial by either judge or jury, and mediation seems to have become the dominant “alternative." But attorneys must be sure that the odds of reaching an agreement warrant the added cost and delay that could result from a mediation effort, says William Krebs at Bean Kinney & Korman PC.