Private Equity

  • February 26, 2024

    1 Pilot For Billionaire Cops Plea, But 2nd Says He's Innocent

    A pilot employed by British billionaire Joe Lewis pled guilty in Manhattan federal court Monday to insider trading, while counsel for a second Lewis pilot charged with profiting from illegal stock tips said his client is innocent and preparing for trial.

  • February 26, 2024

    Everton Scores Reduced Premier League Penalty After Appeal

    An independent appeal board reduced the penalty against Everton FC for violating Premier League financial rules on Monday, docking the football club six points in the standings after finding that the initial punishment of 10 points was based on faulty legal grounds.

  • February 26, 2024

    KKR Buying Former VMware Unit From Broadcom In $4B Deal

    Simpson Thacher & Bartlett LLP-advised KKR said Monday it has agreed to acquire Broadcom Inc.'s end-user computing division in a transaction valued at approximately $4 billion, with Wachtell Lipton Rosen & Katz and O'Melveny & Myers LLP representing Broadcom on the deal. 

  • February 26, 2024

    EU Strengthens Investors' Protection On Investment Funds

    The European Union adopted new rules on Monday for investment funds that are designed to make the market integrate better and strengthen protection for investors.

  • February 23, 2024

    Momentive Shareholders Battle In Del. Over $19M Settlement

    Hedge funds with shares of Momentive Performance Materials Inc. that withdrew from a consolidated class lawsuit over the silicone maker's $3.1 billion sale in 2019 urged Delaware's Court of Chancery on Friday to carve them out of a proposed $19 million class settlement, accusing their former co-lead counsel of grabbing their "cake."

  • February 23, 2024

    Ex-Citrix Chief Hit With Class Action Over $16.5B Sale

    A proposed class of former Citrix Systems Inc. stockholders accused the company's former CEO and chairman Robert M. Calderoni of failing to get enough for stockholders for the $16.5 billion sale of the cloud software company to Vista Equity Partners Management LLC and Elliott Investment Management LP affiliate Evergreen Coast Capital Corp.

  • February 23, 2024

    Trump-Tied SPAC Adds NY Fraud Judgment To Risk Factors

    Digital World Acquisition Corp., which is seeking to merge with Donald Trump's social media company, has included a new warning for investors in a regulatory filing following the former president's $453.5 million fraud penalty in New York state court.

  • February 23, 2024

    4th Circ. Won't Rethink Adviser's Defamation Coverage Denial

    A Fourth Circuit panel declined to reconsider its decision that an investment adviser is not owed coverage under her firm's professional liability policy for an underlying defamation lawsuit.

  • February 23, 2024

    Industrial Supplier Inks $350M Deal To Buy Wesco Unit

    Electrical distribution services company Wesco International has agreed to sell its North American and European industrial maintenance, repair and integrated supply business Wesco Integrated Supply to Vallen Distribution for $350 million in an attempt to reduce debt and repurchase shares, the companies announced Friday.

  • February 23, 2024

    Healthcare AI Startup Abridge Raises $150M

    AI clinical documentation company Abridge said on Friday that it had raised a $150 million series C round to build on its existing product lines and accelerate research and development.

  • February 23, 2024

    FTX Settles $324M Ch. 11 Suit Over European Deal For $33M

    Bankrupt cryptocurrency exchange FTX Trading Ltd. has asked a Delaware court to approve a plan to resolve a $323.5 million clawback action aimed at the co-founders of its European unit by selling the subsidiary back to the executives for $32.7 million.

  • February 23, 2024

    Del. SPAC Rulings Said To Weigh Against Super Group Case

    Attorneys for investors seeking damages after a special purpose acquisition company took Super Group Ltd., an online international gambling venture, public in a $4.75 billion deal in 2022 repeatedly pointed a Delaware vice chancellor on Friday to the Chancery Court's growing SPAC case law as reasons to keep their lawsuit alive.

  • February 23, 2024

    Insurance M&A Partner From Sidley Joins Kirkland

    Kirkland & Ellis LLP has added a corporate partner in its insurance transactions and regulatory and financial institutions practice groups, bringing on a former Sidley Austin LLP attorney who said he "couldn't be more excited" to join the firm's Chicago office.

  • February 23, 2024

    Horizon Capital Clinches Upsized Ukraine Fund IV At $350M

    Private equity shop Horizon Capital on Friday announced that it closed its Ukraine-focused fund after amassing $350 million in commitments, exceeding the firm's initial target size by roughly 40%.

  • February 23, 2024

    Skadden-Led Criteo Wants 'Constructive' Talks With Activist

    Skadden-advised French advertising technology firm Criteo responded Friday to a call from activist investor Petrus Advisers to "evaluate all ownership options" and shake up its board, releasing a statement saying it is "carefully reviewing" Petrus' letter and hopes to "continue to engage constructively."

  • February 23, 2024

    Hogan Lovells-Led Energy Investor Eyes $200M Buyback

    Riverstone Energy Ltd. said Friday the energy-focused private equity firm will start a share buyback program worth up to $200 million of excess cash to its shareholders via a 1,050 pence ($13.30) per-share tender offer.

  • February 22, 2024

    Latham, Davis Polk Rep As Reddit Files For IPO

    Social media platform Reddit on Thursday formally outlined its plans to go public with a long-rumored initial public offering that's being guided by Latham & Watkins LLP and underwriters' counsel Davis Polk & Wardwell LLP.

  • February 22, 2024

    Instant Brands Ch. 11 Plan Gets OK After Win In Supplier Row

    A Texas bankruptcy judge on Thursday gave tentative approval to home-appliance maker Instant Brands' reorganization plan after finding that recent briefings from the company and a supplier supported his preliminary decision last week to preserve the debtor's indemnification rights.

  • February 22, 2024

    Asset Managers Plug Up To $450M In AITi Global

    Cadwalader Wickersham & Taft LLP-advised wealth and alternatives manager AlTi Global Inc. on Thursday revealed that asset managers Allianz X, advised by Sullivan & Cromwell LLP, and Constellation Wealth Capital, advised by Gibson Dunn & Crutcher LLP, have agreed to invest a combined up to $450 million in the company.

  • February 22, 2024

    Private Equity Group Of The Year: Simpson Thacher

    Simpson Thacher & Bartlett LLP has advised on more than 100 asset management M&A deals with a combined value of over $170 billion since Oct. 1, 2022, including Bridgepoint Group's acquisition of Energy Capital Partners to create a company with €57 billion ($61 billion) invested in global private markets, earning it a spot among Law360's 2023 Private Equity Groups of the Year.

  • February 22, 2024

    B. Riley Stands By Franchise Group Deal After Internal Review

    B. Riley Financial reaffirmed its commitment to the $2.6 billion take-private deal for Franchise Group Inc. despite the misconduct of former Franchise Group CEO Brian Kahn, saying on Thursday that its audit committee determined through a nine-week internal review that B. Riley had no knowledge of or involvement in the misconduct.

  • February 22, 2024

    Taft Stettinius Adds 6 Dinsmore Attys In Detroit, Chicago

    Taft Stettinius & Hollister LLP has hired six attorneys from Dinsmore & Shohl LLP who focus their practices on business law and litigation matters.

  • February 22, 2024

    Deals Rumor Mill: Occidental, Kroger-Albertsons, BuzzFeed

    Occidental explores a $20 billion sale of Western Midstream, the FTC and some states could sue to block the $24.6 billion Kroger-Albertsons deal, and The Independent is taking over BuzzFeed's U.K. and Irish operations. Here, Law360 breaks down the notable deal rumors from the past week.

  • February 22, 2024

    Fieldfisher-Led Tech Co. Agrees £430M Unit Sale To PE Biz

    Marlowe PLC said Thursday that it has agreed to sell some of its risk management assets to private equity firm Inflexion for £430 million ($545 million), as the U.K. business services and software specialist looks to fully focus on its core compliance practice.

  • February 21, 2024

    FTC Says Twitter Staff Prevented Musk Violating Privacy Order

    The Federal Trade Commission told the House Judiciary Committee on Wednesday that were it not for Twitter employees disobeying Elon Musk's orders to grant some reporters "full access to everything ... no limits at all" to the social media platform's systems, the company may have violated a 2022 FTC consent decree.

Expert Analysis

  • Growing EU Scrutiny Increases Hurdles For Foreign Investors

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    The application of the EU Foreign Subsidies Regulation from July will bring further oversight to many large deals, and together with bolt-on strategies, foreign investment regulation and antitrust enforcement, financial sponsors will need to start planning for compliance to avoid potential delays, say Anna Mitchell and Neil Hoolihan at Linklaters.

  • Fla. Foreign Real Estate Law Brings Broad Investment Risks

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    Last month, Florida became the latest state to enact legislation prohibiting Chinese investors from acquiring certain interests in real property, introducing significant legal uncertainty and consequences for real estate stakeholders and the private equity industry, say attorneys at Simpson Thacher.

  • Prepping Your Business Ahead Of Affirmative Action Ruling

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    The U.S. Supreme Court's upcoming ruling on whether race should play a role in college admissions could potentially end affirmative action, and companies will need a considered approach to these circumstances that protects their brand power and future profits, and be prepared to answer tough questions, say Nadine Blackburn at United Minds and Eric Blankenbaker at Weber Shandwick.

  • How REITs Can Prep For SEC's Repurchase Disclosure Rules

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    With real estate investment trusts' share repurchase activity on the rise, REITs should beware the potential enforcement risks that may arise from the U.S. Securities and Exchange Commission's new rules requiring additional disclosures regarding such repurchases, says Zach Swartz at Vinson & Elkins.

  • Tackling Judge-Shopping Concerns While Honoring Localism

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    As the debate continues over judge-shopping and case assignments in federal court, policymakers should look to a hybrid model that preserves the benefits of localism for those cases that warrant it, while preventing the appearance of judge-shopping for cases of a more national or widespread character, says Joshua Sohn at the U.S. Department of Justice.

  • Perspectives

    How Attorneys Can Help Combat Anti-Asian Hate

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    Amid an exponential increase in violence against Asian American and Pacific Islander communities, unique obstacles stand in the way of accountability and justice — but lawyers can effect powerful change by raising awareness, offering legal representation, advocating for victims’ rights and more, say attorneys at Gibson Dunn.

  • Opinion

    Congress Needs To Enact A Federal Anti-SLAPP Statute

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    Although many states have passed statutes meant to prevent individuals or entities from filing strategic lawsuits against public participation, other states have not, so it's time for Congress to enact a federal statute to ensure that free speech and petitioning rights are uniformly protected nationwide in federal court, say attorneys at Skadden.

  • Unpacking Recent Changes At The NY Federal Reserve

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    After recent changes at the Federal Reserve Bank of New York, certain money market mutual funds that previously relied on the Overnight Reverse Repo Facility will be expected to place cash with a commercial bank or invest directly in assets, which in turn supports the functioning of the real economy, say attorneys at Mayer Brown.

  • Some Client Speculations On AI And The Law Firm Biz Model

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    Generative artificial intelligence technologies will put pressure on the business of law as it is structured currently, but clients may end up with more price certainty for legal services, and lawyers may spend more time being lawyers, says Jonathan Cole at Melody Capital.

  • Private Equity Firms Shouldn't Overlook Cybersecurity Risks

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    Given the operational, financial and reputational costs at stake, and the growing threat of cybercrime, cybersecurity should be central to deal making, internal governance and post-acquisition management for private equity firms, say Ray Bogenrief and William Ridgway at Skadden.

  • Assessing Overlapping Boards After DOJ Crackdown

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    The U.S. Department of Justice’s recent targeting of interlocking directorates raises questions about the scope of applicable antitrust law, including when companies will be considered competitors, whether the statute reaches potential competitors, and how companies can avoid price-fixing or market allocation charges, say attorneys at Cooley.

  • NY AG's Digital Asset Proposal Shouldn't Be Taken Lightly

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    Given New York state's prominence both in the digital asset industry and as a proving ground for state regulatory innovation, all digital asset industry participants should take seriously New York Attorney General Letitia James' legislative proposal to tighten crypto regulation, say attorneys at WilmerHale.

  • Lessons On Corporate Fiduciary Duties From Del. M&A Case

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    The recent decision in New Enterprise Associates v. Rich, which held that a contractual covenant by certain stockholders not to challenge specific sales of the company was enforceable, highlights that the Delaware Court of Chancery generally is likely to be receptive to waivers of fiduciary duties that are agreed by sophisticated stockholders, say attorneys at Fried Frank.

  • Failed Tegna Deal Reveals Increasing Merger Review Hurdles

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    A deeper look at how the Tegna-Standard General deal derailed during merger review suggests some practical steps that firms should consider to close transactions when dealing with multiple federal agencies operating under a whole-of-government antitrust enforcement approach, say Jody Boudreault and Katherine Dutcher at Baker Botts.

  • A Lawyer's Guide To Approaching Digital Assets In Discovery

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    The booming growth of cryptocurrency and non-fungible tokens has made digital assets relevant in many legal disputes but also poses several challenges for discovery, so lawyers must garner an understanding of the technology behind these assets, the way they function, and how they're held, says Brett Sager at Ehrenstein Sager.

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