Private Equity

  • April 29, 2016

    Deals Rumor Mill: Yahoo, Pfizer, Atlante

    Yahoo Inc. has a short list of 10 bidders, which includes Verizon Communications Inc., for its core Internet business, according to a Reuters report Friday. Most of the offers are cash-only, and also come from big private equity players such as TPG Capital LP. The move to divest the core assets comes after Yahoo scrapped plans to spin off its Alibaba stake in December. Earlier this week, Yahoo announced a truce with activist investor Starboard Value that saw the company partially shake up its board to avoid a proxy fight.

  • April 29, 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 Cooley, Skadden and Alston & Bird at the helm. Here, Law360 recaps the ones you might have missed.

  • April 29, 2016

    US Energy, Utility M&A Activity Hits 10-Year High

    Energy and utility M&A in the U.S. so far this year is off to a strong start, with deal value more than triple what was seen last year and topping every year since 2007 as low interest rates, renewable energy tax credits, low oil and gas prices and private equity firm's mass amounts of dry powder have created a perfect storm for deal-making, experts say. 

  • April 29, 2016

    PE Firm Exits In Africa Hit 9-Year High

    More private equity firms successfully exited their investments in Africa in 2015 than in each of the eight years prior, even as global economic uncertainty posed a variety of obstacles to sale, according to data published by Ernst & Young and the African Private Equity and Venture Capital Association.

  • April 29, 2016

    Tilton Scraps With AXIS Over $5M To Fund Bout With SEC

    Having blown through $20 million in three executive liability policies in a fight with the U.S. Securities and Exchange Commission, Lynn Tilton's Patriarch Partners LLC private equity firm went before a Manhattan federal judge Friday in a bid to secure $5 million in excess coverage from AXIS Insurance Co.

  • April 29, 2016

    Trident Spinoff Sunstone Closes $300M PE Technology Fund

    Sunstone Partners, a newly formed private equity firm carved out of Silicon Valley venture capital player Trident Capital, said Thursday that it has closed a technology-focused growth equity fund with $300 million of total commitments, surpassing its initial target.

  • April 28, 2016

    DLA Piper Picks Up Restructuring Partner From Skadden

    DLA Piper on Thursday said it has hired restructuring attorney John Lyons from Skadden Arps Slate Meagher & Flom LLP, a veteran bankruptcy lawyer who has represented clients such as U.S. Airways Inc., VeraSun Energy Corp. and Black Diamond Capital Management LLC, to work as a partner in its Chicago office.

  • April 28, 2016

    Deals Rumor Mill: Eni, Qlik, Carl Icahn

    Italian oil giant Eni could fetch $3.4 billion for its retail gas and power business, which is being pursued by utility companies and private equity suitors; software company Qlik is on the block for $2.8 billion; and activist investor Carl Icahn has sold all his shares in Apple, citing concerns related to China.

  • April 28, 2016

    3i Sheds Mayborn Unit In $197M Deal

    U.K.-based private equity outfit 3i Group PLC on Thursday said that it has sold its Mayborn Group unit, which owns the baby product brand Tommee Tippee, to Chinese consumer products company Shanghai Jahwa Co. Ltd. for £135 million ($197 million).

  • April 28, 2016

    Kirkland & Ellis Leads Mineral Co. In $375M Equity Raise

    Kirkland & Ellis LLP on Thursday guided a privately held Texas mineral company on its $375 million equity capital raise and its purchase of producing properties and undeveloped land in northwest Louisiana and East Texas.

  • April 28, 2016

    House Advances Angel Investors Bill To Boost Startups

    The U.S. House of Representatives passed an "angel investors" bill Wednesday that will purportedly help entrepreneurs access capital by easing restrictions on certain investor presentations under Regulation D.

  • April 28, 2016

    Real Estate Rumors: London & Regional, Lennar, Empire State

    London & Regional is reportedly in talks to buy 47 hotels from private equity shop Lone Star, while a Lennar Homes venture has reportedly bought a former Florida golf course for $96 million and plans a mixed-use project there, and REIT Empire State is said to have scored $50 million from MetLife for a Manhattan property.

  • April 28, 2016

    Cinven, CPPIB Nab Hotelbeds Group In $1.3B Deal

    Private equity firm Cinven on Thursday said that it has teamed up with the Canada Pension Plan Investment Board to buy the Hotelbeds Group — which provides business-to-business travel services — from the TUI Group for around €1.2 billion ($1.3 billion), including cash and debt.

  • April 28, 2016

    PayPal Co-Founder Leads $100M Smart Home Co. Funding

    A group of backers led by PayPal co-founder Peter Thiel and Tagg Romney’s Solamere Capital on Wednesday announced a $100 million investment in Vivint Smart Home ahead of a forecast boom in the fast-growing smart home market.

  • April 27, 2016

    22 Firms Win Top Marks From GCs On AFAs

    Twenty-two law firms are the cream of the crop when it comes to delivering alternative fee arrangements, according to a new report. Here’s what clients say sets them apart and how the firms say they make it work.

  • April 27, 2016

    Jaffe Faces $10M Malpractice Suit Over Pension Liability

    A pair of CoBe Capital LLC managing directors hit Jaffe Raitt Heuer & Weiss PC with a nearly $10.3 million malpractice suit in Michigan federal court Monday, saying the law firm failed to inform them they were on the hook for pension liabilities related to an acquisition.

  • April 27, 2016

    OMB Cautions House Startup Bill May Hurt Investors

    The White House Office of Management and Budget has opposed a House bill on startup investing that would ease solicitation restrictions on companies issuing private securities, saying Tuesday that the bill does not properly weigh the need for investor protections.

  • April 27, 2016

    Pacific Exploration Starts Restructuring In Deal To Nix Debt

    Oil and gas producer Pacific Exploration & Production Corp. filed for bankruptcy protection Wednesday in Canada to execute a proposed transaction with private equity firm The Catalyst Group in order to reduce its debt by $5 billion, the company said.

  • April 27, 2016

    Deals Rumor Mill: Comcast, Uber, Cinven

    Comcast is in talks to buy DreamWorks Animation for as much as $3 billion, Uber won’t be going public anytime soon, and private equity outfit Cinven could pull in as much as $1.9 billion with a sale of web hosting service provider Host Europe Group.

  • April 27, 2016

    Apollo Education May Sell Univ. Of Phoenix If Buyout Fails

    Apollo Education Group Inc. warned shareholders on Tuesday that it may sell its core University of Phoenix business if a $1.1 billion buyout offer from investment firms Vistria, Najafi and Apollo Global Management fails to pan out as the private education company seeks to turn around its troubled for-profit college.

Expert Analysis

  • OPINION: Engaging The Media May Help Your Client

    Liz Mair

    While I am confident that the decisions in Windsor and Obergefell were made on the basis of the dictates of the Constitution, I am also confident that the communications efforts undertaken gave the justices additional comfort to make the right call, and ensured that these decisions were not treated as a Roe v. Wade redux, says Liz Mair, former online communications director for the Republican National Committee and president of Mair Strategies.

  • Abry Still Relevant For Dodging Post-Closing Claims

    Benjamin M. Grossman

    In the 10 years since the seminal decision in Abry Partners v. F&W Acquisition, Delaware courts have continued to apply its principles while providing guidance on how to effectively bar extracontractual fraud claims in private acquisitions. Unfortunately, the lessons of Abry and subsequent cases have yet to be fully internalized by some practitioners, says Benjamin Grossman of Jones Day.

  • IP In A Financial Center: Ireland Vs. Cayman Islands

    Ramesh Maharaj

    The portable nature of intellectual property allows it to be readily structured in jurisdictions such as the Cayman Islands and Ireland — two important and robust international financial centers — so as to maximize returns. Whether a particular jurisdiction is well suited for the IP requires analysis of not only the protection afforded but also where the IP is to be sold and how any returns generated will be taxed, say Ramesh Mahar... (continued)

  • Brokaw Act Could Broaden Change-Of-Control Triggers

    Laurent Alpert

    The recently introduced “Brokaw Act” proposes changes to the rules governing the reporting of ownership in U.S. public companies and would expand the definition of “beneficial owner.” But as the definition of ownership expands, the definition of change of control in many indentures may expand as well — sometimes in ways the drafters may not have anticipated, say Laurent Alpert and Robert Gruszecki of Cleary Gottlieb Steen & Hamilton LLP.

  • Dentons: A New Kind Of Network?

    MarkACohen.jpg

    Dentons is two different law firm networks in one. So even if the Swiss verein structure should eventually fail and Dentons is forced to operate as a network of independent law firms, it could still be a significant market force, says Mark A. Cohen, a recovering civil trial lawyer and the founder of Legal Mosaic LLC.

  • From The Book Of Jargon: Tree

    In the latest excerpt from the "Book of Jargon," Michèle Penzer, managing partner of Latham & Watkins LLP's New York office, defines the finance term "tree."

  • Why Investors Are Suing Under Antitrust, Futures Laws

    Carol V. Gilden

    Having diversified their portfolios beyond U.S. stocks and bonds, today’s institutional investors are now diversifying their legal tools and increasingly using the antitrust laws and the Commodity Exchange Act to protect their investments. And recent cases highlight an important benefit of suing under these laws, say Carol Gilden and Michael Eisenkraft of Cohen Milstein Sellers & Toll PLLC.

  • M&A Strategies In A World Of Rising Antitrust Risk: Part 2

    Bernard A. Nigro Jr.

    One tactical issue to be kept in mind is to what extent merger agreement provisions will affect the leverage of antitrust regulators. Another tactic relates to the timing of a transaction based on political considerations, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • M&A Strategies In A World Of Rising Antitrust Risk: Part 1

    Philip Richter

    A variety of tools are available to craft remedies to antitrust concerns arising from a proposed transaction and to allocate the risk between the parties as to the possibility of regulatory approval not being obtained. Parties must be strategic in their selection of these tools and in creatively tailoring them in novel ways, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Volatility Vs. Stability: Oil And Gas M&A Trends To Watch

    It’s a rough time for commodity producers, but there does appear to be some stabilization in the market and a large amount of activity from private equity buyers. In this short video, Latham & Watkins LLP partners Simon Tysoe and Sean Wheeler discuss the current oil and gas M&A market and some trends we could see in the next few months.