Private Equity

  • March 20, 2024

    Kirkland, Simpson Rep $1.2B Sale Of Alight's Payroll Biz

    H.I.G. Capital on Wednesday agreed to pay up to $1.2 billion for Alight Inc.'s payroll, professional services and human capital management business, which counts online HR portal Workday among its partners, in an agreement steered by respective legal advisers Kirkland & Ellis and Simpson Thacher.

  • March 20, 2024

    Kirkland-Led PE Firm To Buy $700M Medical Component Biz

    Chemicals and technology company Johnson Matthey said Wednesday that it has agreed to sell all of its medical device components business to Montagu Private Equity for $700 million, ending its sale of "value businesses," in a deal guided by Kirkland & Ellis LLP.

  • March 20, 2024

    Data Center Atty Welcomes Private Equity's Embrace

    Private equity's growing presence in the data center space is a boon for the sector and will help industry players build more facilities to meet growing demand for digital infrastructure, a partner in Paul Hastings' data center practice group told Law360.

  • March 20, 2024

    How The Supreme Court Could Narrow Chevron

    After hours of oral argument in a closely watched administrative law case, it appeared that some U.S. Supreme Court justices could be open to limiting the opportunities for lower courts to defer to federal agencies' legal interpretations in disputes over rulemaking — and legal experts said there are a number of ways they could do it.

  • March 20, 2024

    Slaughter And May Cuts Partner Promotions By Half In 2024

    Slaughter and May said on Wednesday that it is adding to its bench of up-and-coming leaders by promoting five lawyers to its partnership — only half the number it elevated in 2023.

  • March 20, 2024

    2 Biotechs Unveil Separate Fundings Totaling $325M

    Life sciences companies Clasp Therapeutics and Cooley-advised Capstan Therapeutics, which develop treatments for a range of health conditions including cancer and autoimmune diseases, separately announced funding rounds Wednesday that together total $325 million.

  • March 20, 2024

    Law360 Announces The Members Of Its 2024 Editorial Boards

    Law360 is pleased to announce the formation of its 2024 Editorial Advisory Boards.

  • March 20, 2024

    Petmate Strikes Debt-Slicing Deal In Takeover Led By 3 Firms

    Milbank-advised Petmate said Wednesday it has reached an agreement with all of its lenders, represented by Gibson Dunn and Ropes & Gray, to eliminate more than $600 million of debt while picking up a total of $100 million in capital, in a deal that will result in the lenders owning 100% of the business.

  • March 20, 2024

    US Chamber's Litigation Funding Concerns Spur 2 State Laws

    Amid concerns from the U.S. Chamber of Commerce about third-party litigation funding, including from potentially hostile foreign entities, state legislatures in Indiana and West Virginia have recently passed bills imposing restrictions on the practice.

  • March 19, 2024

    5th Circ. Ducks 'Pandora's Box' In Tossing SEC Gag Rule Row

    The U.S. Securities and Exchange Commission on Tuesday defeated a challenge to its so-called gag rule against settling defendants, with the Fifth Circuit writing that it didn't want to open a "Pandora's box" by ruling that it had jurisdiction to review a financial radio show host's appeal of a decision that wasn't a final judgment.

  • March 19, 2024

    Goodwin, Simpson Thacher Steer Astera's Upsized $713M IPO

    Astera Labs Inc., a provider of connectivity chips designed to support cloud software and artificial-intelligence systems, priced an upsized initial public offering Tuesday that raised $712.83 billion, represented by Goodwin Procter LLP and underwriters counsel Simpson Thacher & Bartlett LLP. 

  • March 19, 2024

    Reddit Reveals Patent Complaint From Nokia As IPO Nears

    Reddit Inc. on Tuesday said it received a letter from Nokia Corp. alleging that it has infringed certain Nokia patents, a disclosure that comes just ahead of the social media platform's long-anticipated initial public offering.

  • March 19, 2024

    Leech Tishman Tells 6th Circ. Time Ran Out On Fraud Suit

    A former Leech Tishman attorney was not party to a tolling agreement between his law firm and investors caught in a Ponzi scheme he allegedly should have warned them away from, so the firm should escape vicarious liability once the time limit expired for the investors to sue him, counsel for the firm told the Sixth Circuit Tuesday.

  • March 19, 2024

    Carlisle Buying Roofing Biz From PE Firm GreyLion For $410M

    Dorsey & Whitney LLP-guided Carlisle Companies Inc. said Tuesday it had agreed to buy roofing component business MTL, which is represented by Latham & Watkins LLP, from private equity firm GreyLion Partners for $410 million in cash.

  • March 19, 2024

    3rd Circ. Says CFPB Can Go After Student Loan Trusts

    The Third Circuit ruled Tuesday that the Consumer Financial Protection Bureau can carry on with its debt collection practices suit against a group of Delaware student loan trusts, rejecting their claims that they are just passive financing entities outside the reach of the agency's enforcement authority.

  • March 19, 2024

    Unilever To Spin Off Ice Cream Biz, Including Ben & Jerry's

    European consumer goods giant Unilever on Tuesday unveiled plans to separate its ice cream business, which includes Ben & Jerry's, as part of an effort to simplify and "streamline" its operations.

  • March 19, 2024

    Ropes & Gray Adds Former Cooley Antitrust Partner In DC

    Ropes & Gray LLP has added a longtime Cooley LLP partner who has helped guide some of the largest corporate mergers and acquisitions in recent years, some of which totaled multiple billions of dollars, the firm announced Monday.

  • March 19, 2024

    4 Things To Watch In Reddit's Coming IPO

    Social media platform Reddit Inc. aims to go public this week in a potentially landmark initial public offering that carries distinct risks but, if successful, could energize the broader IPO pipeline. Here, Law360 walks through four things to watch in Reddit's upcoming IPO.

  • March 19, 2024

    Diversified Energy To Buy Gas Assets For $410M

    U.S. oil producer Diversified Energy said Tuesday that it will buy natural gas assets from investment manager Oaktree Capital for $410 million, which will include hedging for protection against the fall in gas prices.

  • March 18, 2024

    Minute Media Buys Rights To Publish Sports Illustrated

    Digital content business Minute Media has purchased the publishing rights for Sports Illustrated, keeping alive a longtime brand that recently obliterated its newsroom with layoffs and shut down its betting platform, according to a Monday announcement.

  • March 18, 2024

    Paul Hastings-Led Francisco Partners To Pay $1.2B For Jama

    Tech-focused private equity investor Francisco Partners has agreed to buy Portland, Oregon-based Jama Software from shareholders including Insight Partners and Madrona Ventures for $1.2 billion, the companies said Monday. 

  • March 18, 2024

    Nuvei's Stock Soars On Disclosure Of Potential PE Buyout

    Canadian fintech Nuvei Corp. said it has formed a special committee to evaluate strategic options after reports indicated that private equity firm Advent International is pursuing a buyout, developments that led to a more than 33% jump in the company's stock Monday.

  • March 18, 2024

    Home Solar Co.'s Ex-CEO Wants Out Of Faulty-Panel Suit

    The CEO of a bankrupt solar company asked a Michigan federal judge on Monday to toss a lawsuit from a couple who purchased a solar system they claim was defective, saying having a "distinctive leadership style" does not make him an alter ego for the company.

  • March 18, 2024

    NYSE Moves To Boot Wilbur Ross-Backed SPAC

    Ross Acquisition Corp. II, a special-purpose acquisition company founded by former U.S. Commerce Secretary Wilbur Ross, disclosed Monday the New York Stock Exchange has suspended trading of its shares and began the delisting process after the SPAC failed to complete a merger within the required three-year time frame.

  • March 18, 2024

    AI-Focused Astera Labs Boosts IPO's Projected Size To $653M

    Astera Labs Inc., a provider of connectivity chips designed to address the growing demand for artificial-intelligence software, on Monday increased the size and price range of its coming initial public offering, which is now set to raise about $653 million.

Expert Analysis

  • Using Agreements To Cover Gaps In Hydrogen Storage Regs

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    The Inflation Reduction Act's incentives for energy storage have spurred investment in hydrogen storage and production, but given the lack of comprehensive regulations surrounding the sector, developers should carefully craft project and financing agreements to mitigate uncertainties, say Omar Samji and Sarah George at Weil, and attorney Manushi Desai.

  • What To Know About FTC's Merger Filing Proposal

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    Attorneys at Simpson Thacher dissect the Federal Trade Commission's recent proposal to overhaul the premerger notification process — discussing the proposal's requirements, comparing peer jurisdictions' premerger regimes, and reviewing the implementation process for a final rule change.

  • Financial Cos. At Risk In Feds' Off-Channel Messaging Sweep

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    With the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission taking an increased interest in off-channel communications in the financial services industry, it is imperative that regulated companies ensure that employees understand and follow proper protocols for business-related messages, say attorneys at Sheppard Mullin.

  • How Attys Can Avoid Exposing Their Firms To Cyberattacks

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    Attorneys are the weakest link in their firms' cyberdefenses because hackers often exploit the gap between individuals’ work and personal cybersecurity habits, but there are some steps lawyers can take to reduce the risks they create for their employers, say Mark Hurley and Carmine Cicalese at Digital Privacy & Protection.

  • Foreign Investment In Real Estate Is Getting More Complicated

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    Increasing federal scrutiny and a proliferation of new state laws targeting foreign investment in real estate may complicate or prevent transactions even by U.S. companies or funds that have shareholders or limited partners from China and other countries of concern, say attorneys at Akin.

  • Virginia 'Rocket Docket' Slowdown Is Likely A Blip

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    After being the fastest or second-fastest federal civil trial court for 14 straight years, the Eastern District of Virginia has slid to 18th place, but the rocket docket’s statistical tumble doesn't mean the district no longer maintains a speedy civil docket, says Robert Tata at Hunton.

  • Home Equity Option Contracts Appear Ripe For Rating

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    Given that home equity option contracts share similarities with evolving asset types like litigation funding, and that courts continue to characterize them as real estate option contracts, it seems they are poised to be rated in the near future, say Darius Horton and Holly Spencer Bunting at Mayer Brown.

  • Broadcast Deal Parties, Beware In-House FCC Hearings

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    Potential buyers and sellers in the telecom space should take note of the recent collapse of Standard General's attempted takeover of Tegna, which could not find its way out of a procedural maze created by the Federal Communications Commission's administrative law judge review, says Dennis Corbett at Telecommunications Law Professionals.

  • 'Varsity Blues' Reversal May Inform Conspiracy Defenses

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    The First Circuit’s recent decision vacating the convictions of two “Varsity Blues” defendants provides potential support for creative arguments against conspiracy charges, particularly where defense counsel can show competition or indifference among alleged co-conspirators, say Cormac Connor and Emily Mikes at Husch Blackwell.

  • 5 Management Tips To Keep Law Firm Merger Talks Moving

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    Many law firm mergers that make solid business sense still fall apart due to the costs and frustrations of inefficient negotiations, but firm managers can increase the chance of success by effectively planning and executing merger discussions, say Lisa Smith and Kristin Stark at Fairfax Associates.

  • SEC Agenda Indicates A Blistering Rulemaking Pace

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    The U.S. Securities and Exchange Commission's recently released agenda lists several major rule proposals slated for adoption in the second half of this year, reflecting the SEC's proactive shift toward taking final action on previously proposed rules pertaining to investment advisers, private funds and registered funds, say attorneys at Simpson Thacher.

  • Recent Bills Show Congress' Growing Maturity On Cannabis

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    Though two recently introduced cannabis reform bills, the Prepare Act and the Small Business Tax Equity Act, are unlikely to pass in this Congress, they demonstrate a new level of focus and sophistication on the part of lawmakers as it relates to cannabis at the federal level, says Irina Dashevsky at Greenspoon Marder.

  • Bank Agencies' 3rd-Party Risk Guidance: 6 Things To Know

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    Although third-party risk management is already a standard practice, final guidance recently issued by federal banking agencies indicates that banks should expect a heightened supervisory focus on this area, say attorneys at Covington.

  • Rethinking In-Office Attendance For Associate Retention

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    The hybrid office attendance model doesn't work for all employees, but it does for many — and balancing these two groups is important for associate retention and maintaining a BigLaw firm culture that supports all attorneys, says Summer Eberhard at Major Lindsey.

  • Practice Tips For Structuring Corporate Venture Capital Deals

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    With traditional financial venture capitalists scaling back and corporate venture capital emerging as a key player in the funding landscape, lawyers advising these strategic investments should limit exposure to competitive information and follow other best practices to minimize potential hazards, say Evan Kipperman and Paul Hughes at Wiggin and Dana.

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