Private Equity Law360 provides breaking news and analysis on private equity deals and the attorneys involved. Coverage includes high-impact deals, related litigation and enforcement actions, and policy developments that affect private equity firms.
Under fire for purported shortcomings, irregularities and conflicts in its initial Delaware Chapter 11 plan, jewelry and accessories retailer Claire’s Inc. secured approval Friday for a reworked marketing effort that a Delaware bankruptcy judge said could encourage more bidding for the $1.3 billion annual revenue business.
Fourteen firms will steer 12 initial public offerings that could surpass $2.5 billion in proceeds during the coming week, representing notable companies like private equity-backed BJ’s Wholesale Club Holdings Inc. and several life science, technology and e-commerce issuers, potentially closing the busiest month for IPOs in three years.
In this week’s Taxation with Representation, Veritas-backed Verscend Technologies bought Cotiviti Holdings for $4.9 billion, Roche took over Foundation Medicine in a $2.4 billion deal, Baytex bought Raging River Exploration for $2.1 billion, and William Scotsman took over Modspace in a $1.1 billion deal.
The last week has seen a group of shippers bring a commercial fraud claim against the Bank of Scotland, the head of a Syrian laminate group sue United Insurance, and a dispute involving RBS and the failed Caterham Formula One Team. Here, Law360 looks at those and other new claims in the U.K.
A private equity firm led by an ex-Warburg Pincus executive is seeking $1.5 billion for a fund that will invest in Chinese health care and consumer companies, the European Commission will approve the $2.4 billion Tronox-Cristal deal with conditions, and BlackRock wants to buy into an Italian asset manager.