Morgenthaler’s private equity group sold off beer supply chain management company Satellite Logistics Group to wine and spirits specialist logistics provider JF Hillebrand Group AG, the lower middle-market buyout firm announced Tuesday.
The U.S. Securities and Exchange Commission on Tuesday charged Detroit-based investment advisory firm Ambassador Capital Management LLC with fraud for misleading the trustees of a money market fund about the fund’s risk exposure, which exceeded allowable limits.
A Delaware bankruptcy judge on Tuesday gave auto parts maker MSD Performance Inc. the green light for a $78 million sale to a unit of Z Capital Partners LLC, the private equity firm that acquired a majority of MSD's secured debt earlier this year.
Blackstone and Goldman Sachs bowed out of the chase for a bundle of nearly 1,500 Spanish rental properties, while RBS is nearing a deal that would spin off an investment unit as part of its plan to get rid of noncore operations and comply with new regulations.
Occasio Funds LLC has launched the first private equity real estate fund that will focus exclusively on luxury resort rental properties, targeting a $100 million raise, according to a Tuesday statement.
Dish Corp. is once against trying to dodge claims that its chairman improperly bought up the secured debt of LightSquared Inc. in an effort to snag the bankrupt company’s wireless spectrum assets, urging a judge Tuesday to dismiss the allegations.
UBS AG can't stop Highland Capital Management LP affiliates from transferring funds despite UBS' argument that it'll be left holding the bag in a $686 million securities lawsuit, a New York state judge ruled Monday, but she gave UBS time to appeal because she said the appellate law is unclear.
Aeropostale Inc. on Tuesday adopted a poison pill plan to protect itself against unwanted buyout plays, a move that came less than a week after investment firm Crescendo Partners pressed the teen-focused retailer to put itself on the market.
Insurance software provider Applied Systems Inc. said Tuesday it has signed an agreement to be acquired by funds advised by private equity firm Hellman & Friedman LLC for $1.8 billion from its current holder, Bain Capital LLC.
Activist hedge fund Elliott Management Corp. again boosted its stake in German drug distributor Celesio AG, according to a Tuesday securities filing, giving it more leverage to potentially thwart a €6.1 billion ($8.2 billion) takeover offer from McKesson Corp.
The Men's Wearhouse Inc. on Tuesday lobbed a $1.2 billion buyout bid at smaller rival Jos. A. Bank Clothiers Inc., turning the tables on its erstwhile suitor and answering sharp criticism from an activist hedge fund.
The ADT Corp. on Monday said it has agreed to pay over $450 million to buy back 10.24 million shares of the electronic security company’s common stock from hedge fund Corvex Management LP.
U.S. Bankruptcy Judge Edward Ellington gave Advantage Rent A Car the green light Friday to sell its assets at a Dec. 9 auction with private equity firm The Catalyst Capital Inc. serving as a stalking horse bidder.
Private equity firms Lagoon Capital Partners Ltd. and HarbourVest Partners LP on Monday detailed a strategic partnership aimed specifically at sealing secondary investments in the Middle East and North Africa, a region that has struggled to integrate secondaries into its deal-making mix.
The National Bank of Greece said Monday it has signed an agreement to sell a majority stake in its real estate branch, National Pangaea REIC, for €653 million ($882 million) to Invel Real Estate II BV in an effort to prop up its capital base.
A substantial minority investor in commodity supply chain company MFC Industrial Ltd. on Monday kicked off a proxy fight aimed at a board overhaul, building on a trend of more engaged stakeholders against the backdrop of a surge in shareholder activism.
Australia's Commonwealth Property Office Fund nixed Dexus Property Group Ltd. and Canada Pension Plan Investment Board's takeover bid for the Commonwealth Bank of Australia's commercial property trust Monday, after the two refused to raise their offer to compete with last week's surprise A$3 billion (US$2.8 billion) bid by GPT Group.
Blackstone is pursuing a public listing for another of its multibillion-dollar hotel chains, while Glencore Xstrata has again narrowed the field of suitors for a $5.9 billion Peruvian copper mine.
The Carlyle Group LP has closed a $13 billion fund focused on corporate buyouts and strategic minority investments across six industries, the global asset manager announced Monday.
Game developer Giant Interactive Group Inc. said Monday it is mulling a $2.82 billion buyout bid from its chairman and a private equity partner, touching off what could be one of the largest management-backed buyouts of a Chinese company in months.
Perhaps the private offering arena is ready for the U.S. Securities and Exchange Commission's changes Regulation D. But we suspect there will be many playing catchup and many jaws will drop when market participants begin to fully comprehend these new rules, say Andrew Rosell and Stas Getmanenko of Kelly Hart & Hallman LLP.
Calls have been growing for a new Glass-Steagall Act and an impressive list of economists, financial experts and bankers are advocating the orderly breakup of big banks. Despite all of these efforts, regulators have not fully fixed the deficits that most experts agree caused the meltdown of the global financial system from 2007 to 2009, says Frederick Pomerantz of Wilson Elser Moskowitz Edelman & Dicker LLP.
When facing competing obligations, technology startups may think short-term and place freedom-to-operate investigations lower on their lists of priorities. Doing so could, however, lead to problems in the near future as they may find it more difficult both to obtain funding from potential investors and to court potential buyers, say Thomas Ho and Aamer Ahmed of Bookoff McAndrews PLLC.
Now that the U.S. Securities and Exchange Commission has lifted an 80-year-old ban on general solicitation and advertising of private securities offerings, are we going to witness the proliferation of "matchmaking" websites designed to introduce companies seeking capital to Mr./Ms. Moneybags? asks Eliza Sporn Fromberg of Day Pitney LLP.
In the bankruptcy context, a D&O insurance policy is the last line of defense for directors and officers to protect their personal assets. At a minimum, directors and officers should review the scope of defense promised in the policy, how “mixed” claims will be addressed by the policy and the priority-of-payment provision, say Lynda Bennett and Eric Jesse of Lowenstein Sandler LLP.
Recently, we have seen nascent signs of a resurgence in the use of ticking fees, a dealmaking tool that incentivizes the buyer to move quickly through the sign-to-close process and compensates target shareholders for the economic impact of extended or unexpected delays in reaching closing, say attorneys with Kirkland & Ellis LLP.
Among 10 battle-proven strategies for getting your witnesses ready for trial is to role-play the cross-examiner. For instance, if you expect the cross-examiner to yell, get in the witness’ face or use scathing sarcasm, do that during practice to minimize surprises at trial, say Dawn Solowey and Lynn Kappelman of Seyfarth Shaw LLP.
Recent events, from the Westgate Mall attack in Nairobi to the Lac-Mégantic train derailment in Quebec, underscore the need for in-house counsel to keenly weigh risks and benefits for their companies doing business on a multinational scale. There are a number of best practices to consider that set the right tone for mitigating risk, whether you are doing business in one or hundreds of locations around the world, says Veta Richardson, president and CEO of the Association of Corporate Counsel.
It's no secret that over the last four years, both domestic and international investors held their money in anticipation of a stabilizing economy. Now some of the hottest industries stirring the M&A pot were among the most hurt by the economy when sources of capital had to scale back, says Corey Massella of Citrin Cooperman.
Massive telecom consolidation has breathed new life into an otherwise slow year for mergers and acquisitions. Although the recent deals bring value to the M&A industry, nonetheless, the number of overall M&A transactions has significantly decreased. There is some optimism that the recent mega-deals in Q3 are indicators of a changing climate, but it is unclear if deal flow will ever return to pre-2009 levels, says Harvey Cohen of Dinsmore & Shohl LLP.