Mergers & Acquisitions

  • October 16, 2017

    Haggen Creditors Square Off With Comvest In Ch. 11 Trial

    Comvest Partners pushed back Monday against asset-stripping allegations from bankrupt Haggen Holdings LLC’s unsecured creditors committee, arguing at the start of trial on the issue that the grocery chain’s collapsed expansion was simply a risk that failed and not an engineered fraud to part creditors from their assets.

  • October 16, 2017

    Court Warns Of 'Odor' To $1B Constant Contact Merger Suit

    A long-idled stockholder challenge to the $1 billion sale of online marketing firm Constant Contact Inc. accelerated straight into trouble on Monday, with Delaware’s chancellor citing an “odor” to class claims and giving attorneys 30 days to ponder the case’s future.

  • October 16, 2017

    Investors Sue To Stop $650M Hawaiian Telecom Sale

    Hawaiian Telcom Holdco Inc. didn’t give investors enough information about its financial adviser’s analysis of its $650 million acquisition by Cincinnati Bell Inc., a proposed class of shareholders alleged Friday in a bid to stop the sale.

  • October 16, 2017

    6th Circ. Sends Jet Pilots' Bargaining Dispute To Arbitration

    The Sixth Circuit ruled Monday that merged luxury airlines Flight Options LLC and Flexjet LLC have to arbitrate a dispute with the Teamsters over whether Flexjet pilots must be added into an existing collective bargaining agreement before changes covering both sets of pilots can be negotiated.

  • October 16, 2017

    Deals Rumor Mill: Saudi Aramco, AT&T, iQiyi

    Chinese state-owned oil companies have interest in buying into Saudi Aramco ahead of its planned $100 billion IPO, Brazil’s antitrust watchdog will greenlight AT&T’s acquisition of Time Warner, with conditions, and Chinese video streaming service iQiyi has picked banks to help with its IPO.

  • October 16, 2017

    SJI Inks $1.7B Deal For Southern Co. Gas Units In NJ, Md.

    Energy services holding company South Jersey Industries Inc. has agreed to acquire the assets of Elizabethtown Gas and Elkton Gas from a Southern Co. subsidiary for $1.7 billion, with a fully committed $2.6 billion bridge financing facility in place, SJI said Monday.

  • October 16, 2017

    Aramark Spends $2.35B On Hospitality Industry Acquisitions

    Food services company Aramark Corp. announced Monday it will pay a total of $2.35 billion to acquire hospitality procurement company Avendra and uniform and linen supply business AmeriPride Services Inc. as it moves to expand its reach in the service industry.

  • October 16, 2017

    Ruby Tuesday Swallowed By PE Firm In Roughly $355M Deal

    NRD Capital Management LLC, an Atlanta-based private equity shop focused on investing in companies that own restaurant and health care franchises, has agreed to buy Ruby Tuesday Inc. in a deal valued at around $355 million, according to a Monday statement.

  • October 16, 2017

    Nordstrom Puts Take-Private Discussions On Hold Until 2018

    Nordstrom Inc. said Monday that the Nordstrom family has suspended its exploration of a take-private deal for the fashion retailer until after the holidays, news that comes following rumors the founding family had teamed up with a private equity firm for a potential deal.

  • October 16, 2017

    How Attys Can Cash In On Expected M&A, PE Market Growth

    The mergers and acquisitions and private equity markets are expected to continue showing growth in 2018, and attorneys can capitalize by showcasing their ability to guide midsized deals in sectors including technology, chemicals, food and telecom, and providing current and potential clients with personal attention and industry-specific educational services.

  • October 16, 2017

    Weinstein Co. In Talks With PE Firm Over Possible Sale

    The Weinstein Co. confirmed Monday that it’s in talks with private equity firm Colony Capital about a potential deal, as the film studio faces instability after firing co-chairman Harvey Weinstein amid a series of sexual assault and harassment accusations.

  • October 13, 2017

    Houlihan Lokey Seeks Early Out From Formula Maker Suit

    A financial adviser that provided analysis to baby formula maker Synutra International Inc. in a $125 million take-private bid last year asked a Delaware Chancery Court judge on Thursday to be dismissed from the case because aiding and abetting claims lodged against it aren't backed up by any facts in a shareholder complaint.

  • October 13, 2017

    C&J Investor Says $5M Fee Bid Justified By $250M Savings

    Attorneys representing a shareholder of C&J Energy Services Inc. told a Delaware Chancery Court judge Friday that their efforts in a challenge to the $2.9 billion merger of C&J and Nabors Industries Ltd. justify a $5 million fee award because the suit led to a $250 million reduction in the cash paid by C&J in the deal.

  • October 13, 2017

    SunEdison Can End IP Contract With Korean Co., Judge Rules

    A New York bankruptcy judge on Friday found that a supply and license agreement between SunEdison Inc. and a Korean company it helped create to manufacture solar materials is governed by New York law and was properly terminated, allowing SunEdison to sell the patent rights to the production process.

  • October 13, 2017

    Valeo Conditions Satisfy EU Worries In €819M FTE Merger

    The European Commission approved Valeo SA’s €819.3 million ($985.4 million) acquisition of FTE Automotive Group on Friday after initially balking at the auto parts merger over antitrust concerns, relenting on the condition that Valeo sell its passive hydraulic actuator business to a rival.

  • October 13, 2017

    Deals Rumor Mill: Weinstein Co., Saudi Aramco, Atlantia

    The Weinstein Co. is looking to be bought or shut down, specifics of the planned $100 billion IPO for state-owned oil giant Saudi Aramco could change, and Atlantia is willing to increase its offer for Abertis in order to beat out a rival bidder.

  • October 13, 2017

    Deal Makers' Interest In Tech M&A Continues To Rise

    The market for tech mergers and acquisitions is expected to pick up as private equity and corporate acquirers alike look to stay ahead of the competition, meaning more intense bidding wars and increasingly complex due diligence processes are on the horizon for deal makers and their legal advisers.

  • October 13, 2017

    Don't Miss It: Hot Deals & Firms We Followed This Week

    With so much mergers and acquisitions news this week, you may have missed several deals announced in recent days helmed by firms such as Davis Polk and Latham & Watkins. Here, Law360 recaps the ones you might have missed.

  • October 13, 2017

    IRS To Take Deeper Look At Tax-Free Distributions

    The Internal Revenue Service said Friday it will increase its scrutiny of certain stock distributions, mergers and liquidations and has begun reconsidering related issues that the agency has ruled favorably on in the past.

  • October 13, 2017

    Bayer Inks €5.9B Divestiture Amid Scrutiny Of Monsanto Buy

    German drug and chemical maker Bayer AG said Friday it will divest portions of its seeds and herbicides businesses in a €5.9 billion ($6.96 billion) sale to BASF SE, as it looks to ease regulatory concerns with its planned takeover of U.S.-based Monsanto Co.

Expert Analysis

  • Financial Crisis Anniversary

    New Post-Recession Metrics For BigLaw Partner Success

    Peter Zeughauser

    After nearly a decade of recession-accelerated change in the legal industry, “merit-based” compensation has largely come to mean measuring attorney success using some combination of origination and working attorney hours metrics. However, there are signs that the real impact of the recession is still around the corner, and that building a book isn’t enough, says Peter Zeughauser of Zeughauser Group.

  • Opinion

    Time To Lift Student Loan Counseling Restrictions

    Christopher Chapman

    While it lends more than $100 million each year to our nation’s college students — including law students — the U.S. Department of Education surprisingly limits loan counseling to one-time entrance counseling for first-time student borrowers. Is this rational? asks Christopher Chapman, president of AccessLex Institute, a nonprofit focused on access to legal education.

  • Learning From DOJ’s Parker Hannifin Merger Challenge

    Jack Sidorov

    The U.S. Department of Justice's recent lawsuit challenging Parker Hannifin’s consummated acquisition of Clarcor serves as an important reminder that the agencies can — and in some limited instances will — challenge consummated transactions that were reported to them under the Hart-Scott-Rodino Act, says Jack Sidorov of Lowenstein Sandler LLP.

  • Why You Should Consider Hyperlinking Your Next Brief

    Christine Falcicchio

    The shift to electronic filing has somewhat eased the task of reviewing briefs and their supporting files. An e-brief takes e-filing to the next level, says Christine Falcicchio, a principal at Strut Legal Inc.

  • Preparing For NYC's New Salary History Law

    Michael Albano

    Recent guidance from the New York City Commission on Human Rights clarifies several aspects of the city's new salary history law that takes effect this month, including its application in the context of corporate acquisitions, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • Asian-Americans Facing Challenges In The Legal Industry

    Goodwin Liu

    Asian-Americans are the fastest-growing minority in the legal profession, but recent studies confirm their underrepresentation among partners, prosecutors, judges and law school administrators. We must take action, say Goodwin Liu, associate justice of the California Supreme Court, and Ajay Mehrotra of the American Bar Foundation.

  • Merger Enforcement Takeaways From 5 Recent Cases

    Debbie Feinstein

    Despite a number of key federal antitrust posts remaining vacant, the antitrust authorities have remained quite active. Here, attorneys with Arnold & Porter Kaye Scholer LLP discuss five recent transactions and what those cases mean for merger enforcement in the United States in the coming months and years.

  • A BigLaw Ladies’ Guide To Becoming A 1st-Chair Trial Lawyer

    Sarah Rathke

    Judge Shira Scheindlin recently published an op-ed in The New York Times discussing the statistical truth that law firms have poor representation of female attorneys as first-chair trial lawyers. Backed by data collected by the New York State Bar Association, Judge Scheindlin’s observation is not merely anecdotal. But it doesn’t have to be inevitable, says Sarah Rathke, a partner and trial lawyer at Squire Patton Boggs LLP.

  • Cybersecurity Due Diligence In M&A: 8 Questions To Ask

    Thomas Smedinghoff

    Many acquirers pay little or no attention to the cybersecurity preparedness of the target company. But the target company’s cybersecurity status can have a major impact on the company’s present value as well as on the potential future liabilities that the acquirer may be assuming, say Thomas Smedinghoff and Enrique Santiago of Locke Lord LLP.

  • SEC's Pay-To-Play Universe Continues To Expand

    Zachary Parks

    Because capital acquisition brokers may act as placement agents in the sale of certain securities, the U.S. Securities and Exchange Commission is now proposing to expand its pay-to-play rules to include CABs. The rule may also encourage investment advisers to take certain steps, says Zachary Parks of Covington & Burling LLP.