Private Equity

  • May 06, 2024

    Perficient Stock Soars On $3B Buyout By EQT Asia Fund

    St. Louis-based digital consultancy Perficient Inc. said it has agreed to be taken private by an affiliate of Swedish private equity firm EQT's Baring Asia Private Equity Fund VIII at an approximately $3 billion enterprise value, a disclosure that sent Perficient's stock soaring more than 50% on Monday.

  • May 06, 2024

    3 Firms Build $6.2B Take-Private Sale Of Allete Energy Biz

    A consortium of buyers led by the Canada Pension Plan Investment Board and Global Infrastructure Partners unveiled plans Monday to buy and take private Minnesota-based energy company Allete Inc., in a $6.2 billion deal put together by at least three firms.

  • May 06, 2024

    Hospital Chain Steward Health Hits Ch. 11 With Over $1B Debt

    Embattled hospital operator Steward Health Care filed for Chapter 11 protection Monday in a Texas bankruptcy court with more than $1 billion in debt, blaming rising costs and falling government reimbursement rates.

  • May 03, 2024

    HR Biz Kelly Buys Talent Solutions Co. MRP For Up To $485M

    Human resources consulting services company Kelly, guided by Jasso Lopez PLLC, on Friday unveiled plans to buy BakerHostetler-advised Motion Recruitment Partners LLC from Greenwich, Connecticut-based private investment firm Littlejohn & Co. LLC for up to $485 million, marking Kelly's largest-ever acquisition.

  • May 03, 2024

    Chancery OKs Extra Digging Into Trump Media Share Dispute

    The sponsor of a special-purpose acquisition company that took Donald Trump's social media venture public earlier this year won Delaware Court of Chancery approval Friday to briefly dig deeper into disputed share-exchange terms for the deal, with more than $58 million on the line.

  • May 03, 2024

    How Big IP Judgment Winners Are Insuring 'Nuclear Verdicts'

    Until a few years ago, intellectual property plaintiffs who scored large monetary awards — often referred to as "nuclear verdicts" — had to wait out a lengthy appellate process before knowing how much money they would end up with. But a relatively new type of insurance policy is allowing plaintiffs to insure part of their judgment in case it gets reduced or wiped out on appeal. 

  • May 03, 2024

    FTC Requests Additional Info On $16.5B Novo-Catalent Deal

    The Federal Trade Commission is seeking additional information on Novo Holdings' planned $16.5 billion acquisition of pharmaceutical services company Catalent in order to examine whether the blockbuster deal passes antitrust muster, according to a Friday securities filing.

  • May 03, 2024

    Chancery OKs Record-Breaking $100M Pattern Energy Deal

    A $100 million settlement ending state and federal court litigation over Pattern Energy Group Inc.'s $6.1 billion go-private sale in 2020 got the nod from Delaware's Court of Chancery on Friday, along with a requested $26 million fee award and two $25,000 incentive awards for the lead shareholder plaintiffs.

  • May 03, 2024

    Stockbridge Real Estate Fund Raises $709M

    San Francisco-based Stockbridge Capital Group said Friday that it had closed on a real estate investment fund with $709 million in commitments last month, the largest in its history.

  • May 03, 2024

    Exxon Closes $60B Pioneer Purchase After FTC Agreement

    Exxon Mobil Corp. said Friday that it has closed its $60 billion acquisition of Pioneer Natural Resources, one day after the Federal Trade Commission gave the oil giant a conditional green light to move ahead with the deal. 

  • May 03, 2024

    US Investors Make $835M Offer For Swedish Legal Info Biz

    The board of Swedish professional information services provider Karnov Group said Friday that it is backing a 9.06 billion Swedish kronor ($835 million) takeover offer from U.S. investment firms Greenoaks Capital Partners LLC and Long Path Partners LP.

  • May 02, 2024

    Latham, Skadden Grab Spotlight As Large IPOs Surge In April

    Latham & Watkins LLP guided five initial public offerings in April, while Skadden Arps Slate Meagher & Flom LLP advised the company bringing to market the largest IPO of 2024, concluding the busiest month for new listings year to date.

  • May 02, 2024

    Activist Files New Proxy Fight In REIT Takeover Attempt

    Activist investor Blackwells Capital LLC continued its campaign against hospitality executive Monty J. Bennett by separately urging shareholders of Braemar Hotels & Resorts Inc. and an advisory firm that Bennett controls to approve a board shake-up during upcoming annual meetings.

  • May 02, 2024

    Investors Not Entitled To Info, Sequel Youth Tells Chancery

    A once-thriving chain of youth treatment facilities that came under scrutiny after a private equity firm bought it in 2017 urged Delaware's Court of Chancery on Thursday to toss a lawsuit from two former executives who demanded financial information about their "eviscerated" investments, arguing that the company didn't have to provide it.

  • May 02, 2024

    Immigrant Bond Co. Buyer Wants In On $811M Fine Appeal

    Libre Immigration Services has moved to intervene at the Fourth Circuit to fight an $811 million judgment against companies it recently acquired that the Consumer Financial Protection Bureau sued over abusive immigrant bonding practices.

  • May 02, 2024

    Plastic-Film Maker Announces $200M Recapitalization

    Plastic-film maker Transcendia Holdings announced Thursday that it had reached a recapitalization deal that will cut $200 million in debt, provide $114 million in new capital, and hand majority ownership of the company to private equity firm Industrial Opportunity Partners.

  • May 02, 2024

    DLA Piper Investment Funds Leader Joins Willkie In Chicago

    Willkie Farr & Gallagher LLP has announced that the former co-head of DLA Piper's investment funds practice joined the firm's asset management group as a partner in its Chicago office. 

  • May 02, 2024

    Recent BigLaw Moves Show Boston Is 'Clearly On The Map'

    Three BigLaw firms' recent moves to build out physical footprints in Boston are a testament to the region's thriving technology, healthcare, life sciences and finance industries — a trend that shows no signs of slowing down, experts say.

  • May 02, 2024

    New DC Stadium A Step Closer With RFK Demolition Approved

    RFK Stadium in Washington, D.C., has been cleared for demolition by the National Park Service, another step forward in the city's attempt to build a new stadium to lure back the NFL's Washington Commanders.

  • May 02, 2024

    Securities Firm Must Face Ex-Worker's Age Bias Suit

    A Colorado federal judge refused to throw out a lawsuit a former securities sales representative lodged against a firm accusing it of firing him and replacing him with two younger workers, saying he put forward enough detail to keep his suit afloat.

  • May 02, 2024

    Snell & Wilmer Adds Armstrong Teasdale Tech Pro In Denver

    Snell & Wilmer LLP's Denver outpost has added a new transactional partner to its corporate and securities team, bringing with him 18 years of experience including co-founding the technology transactions group for Armstrong Teasdale LLP and leading its technology industry group.

  • May 02, 2024

    Deals Rumor Mill: Coca-Cola, General Mills, MLB's Giants

    Coca-Cola is preparing an IPO for its African bottling division, cereals giant General Mills is exploring selling its North America yogurt business, and a 5% stake in the San Francisco Giants is up for sale at a price that could value the club at $4 billion. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • May 02, 2024

    Permira Takes Majority Stake In BioCatch At $1.3B Valuation

    European private equity shop Permira, advised by Latham & Watkins LLP, has taken a majority stake in BioCatch, a digital fraud detection and financial crime prevention company, valuing the Tel Aviv-headquartered business at $1.3 billion, according to a Thursday announcement.

  • May 02, 2024

    FTC Clears $60B Exxon Deal With Pioneer Executive Ban

    The Federal Trade Commission on Thursday cleared the way for the close of the $60 billion mega-merger between Exxon Mobil Corp. and Pioneer Natural Resources, subject to an agreement barring former Pioneer Natural Resources CEO Scott Sheffield from gaining a seat on Exxon's board. 

  • May 02, 2024

    Sidley PE Atty Tapped To Lead Paul Hastings' Boston Office

    Paul Hastings LLP announced Thursday that it has added a former Sidley Austin LLP partner to its growing private equity team who will serve as chair of the firm's new Boston office.

Expert Analysis

  • Series

    Children's Book Writing Makes Me A Better Lawyer

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    Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.

  • 4 Key Ways CFIUS Affected Private Equity In 2023

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    Sponsors and investment professionals should note how escalated enforcement by the Committee on Foreign Investment in the United States in 2023 affected private equity deal making and evaluate their CFIUS-related procedures in preparation for the regulator's reach to expand further next year, say attorneys at Kirkland.

  • How Clients May Use AI To Monitor Attorneys

    Excerpt from Practical Guidance
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    Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.

  • Series

    ESG Around The World: Singapore

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    Singapore is keen to establish itself as a leading international financial center and a key player in the sustainable finance ecosystem, and key initiatives led by its government and other regulatory bodies have helped the Asian nation progress from its initially guarded attitude toward ESG investment and reporting, say attorneys at Morgan Lewis.

  • Series

    The Pop Culture Docket: Judge D'Emic On Moby Grape

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    The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.

  • Series

    Performing Music Makes Me A Better Lawyer

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    The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.

  • How 'As Such' Changes LPs' Self-Employment Tax Exposure

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    In light of the U.S. Tax Court’s recent Soroban Capital Partners decision hinging on "as such" to define the statutory limited partners exemption, state law limited partnerships should consider partners' roles and responsibilities before determining whether they are obligated to pay self-employment income tax, say attorneys at Morgan Lewis.

  • The SEC's Cooled Down But Still Spicy Private Fund Rules

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    Timothy Spangler and Lindsay Trapp at Dechert consider recently finalized U.S. Securities and Exchange Commission rules, which significantly alter the scope of obligations private fund advisers must meet under the Investment Advisers Act, noting the absence of several contentious proposals and litigation that could result in implementation delays.

  • Breaking Down High Court's New Code Of Conduct

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    The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.

  • Opinion

    Legal Profession Gender Parity Requires Equal Parental Leave

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    To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.

  • Opinion

    Activist Short-Sellers Are The Dark Knights Of Wall Street

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    While so-called activist short-sellers have been subject to increased scrutiny in recent years, these investors work in the shadows like Batman to expose fraud on Wall Street, often generating leads that may move regulators to take action, say attorneys at Labaton Sucharow.

  • Series

    Writing Thriller Novels Makes Me A Better Lawyer

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    Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.

  • What Lawyers Must Know About Calif. State Bar's AI Guidance

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    Initial recommendations from the State Bar of California regarding use of generative artificial intelligence by lawyers have the potential to become a useful set of guidelines in the industry, covering confidentiality, supervision and training, communications, discrimination and more, say attorneys at Debevoise.

  • Industry Must Elevate Native American Women Attys' Stories

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    The American Bar Association's recent research study into Native American women attorneys' experiences in the legal industry reveals the glacial pace of progress, and should inform efforts to amplify Native voices in the field, says Mary Smith, president of the ABA.

  • A Breakdown Of The OCC's New Venture Lending Pointers

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    In light of the Office of the Comptroller of the Currency's recent bulletin outlining venture lending risks for banks, Matt Schwartz and Jeffrey Hare at DLA Piper highlight key considerations for both lenders and venture-backed companies seeking or maintaining loans from OCC-regulated national banks and federal thrifts.

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