Mergers & Acquisitions

  • July 26, 2017

    Record Number Of Securities Class Actions Filed In 2017

    The number of class action securities fraud suits filed in federal court surged to a record high in the first half of 2017, according to a report released Tuesday, hitting the highest level in two decades as both traditional filings and merger and acquisition litigation continued to increase.

  • July 26, 2017

    EFH Creditor Gets More Time To Top Berkshire's $9B Sale Bid

    The Delaware bankruptcy judge presiding over Energy Future Holdings Corp.'s Chapter 11 on Wednesday gave its largest creditor more time to come up with a topping offer to Berkshire Hathaway's $9 billion sale bid, but did not extend the timeline beyond the point when Warren Buffet's conglomerate says it would walk.

  • July 26, 2017

    Chancery Denies SJ In $115M Merger Dispute

    A Delaware Chancery Court judge denied partial summary judgment on Wednesday in a fraud case over a private equity firm's $115 million acquisition of a payment-technology company, saying there are many nuances and the case must be considered as a whole in a trial that is to happen shortly.

  • July 26, 2017

    Analyst Gets 45 Months For Insider Trading On ADT Buy

    A bail-jumping former MSD Capital LP analyst was sentenced Wednesday to 45 months in prison for what a New York federal judge called a “classically reckless” and “stupid offense” — trading on inside information about Apollo Global Management LLC’s planned $15 billion acquisition of ADT Corp.

  • July 26, 2017

    Katy Creditors Challenge Secured Debt Claims In Sale Deal

    The official committee of unsecured creditors in the Chapter 11 case of Katy Industries Inc. filed an adversary complaint Tuesday challenging the validity of the company's second-lien debt and its lender's purchase of Katy's assets using a credit bid on those secured claims.

  • July 26, 2017

    Coscelli Tapped To Lead UK Antitrust Watchdog Through Brexit

    The acting chief of the U.K.'s antitrust enforcer, Andrea Coscelli, got the nod Wednesday to take over the role on a permanent basis as the agency faces the possibility of a growing workload once the U.K. leaves the European Union.

  • July 26, 2017

    How The PSLRA Reshaped The Rush To The Courthouse

    After seeing how the selection of lead counsel has been impacted by the Private Securities Litigation Reform Act, investors’ attorneys may see little advantage in rushing to file federal lawsuits. But while the PSLRA eliminated any technical legal advantage in being the first to file, experts say firms can reap other benefits from the strategy.

  • July 26, 2017

    Tax Court Rips IRS For Canceling Eaton Pricing Agreements

    In a big win for Eaton Corp., a U.S. tax judge ruled Wednesday that the IRS abused its discretion by canceling advance pricing agreements involving the power management company's Caribbean subsidiaries, a move that led the agency to increase Eaton's 2005 and 2006 taxable income by roughly $370 million.

  • July 26, 2017

    Day Pitney Guides $816M Bank Takeover By Valley National

    Valley National Bancorp said Wednesday it will pay $816 million to acquire USAmeriBancorp in a deal guided by Day Pitney LLP, as the company cements its place in Florida and expands its presence into Alabama.

  • July 26, 2017

    Deals Rumor Mill: JPMorgan, Nature's Bounty, Snapdeal

    JPMorgan may merge some of its U.K. operations ahead of the anticipated Brexit, KKR is lining up debt for its Nature's Bounty buyout, and India's Snapdeal may soon merge with a rival to better compete with Amazon.

  • July 26, 2017

    Bayer-Monsanto Tie-Up Would Hurt Competition, Groups Say

    The American Antitrust Institute, Food & Water Watch and National Farmers Union sent a joint letter to the U.S. Department of Justice Wednesday urging it to block Bayer AG’s attempt to buy Monsanto Co. for $66 billion, claiming the union would be bad for competition.

  • July 26, 2017

    Gaming Tech Co. Corsair Valued At $525M With EagleTree Deal

    California-based Corsair, a Francisco Partners portfolio company that makes high-performance PC components for gaming, revealed Wednesday that private equity firm EagleTree Capital will take a majority stake in the company in a deal that values it at $525 million.

  • July 26, 2017

    Aetna Faces Investor Suit Over ACA Marketplace Withdrawal

    Aetna Inc. was slapped with a putative class action in Pennsylvania state court on Tuesday alleging that it cost investors $1.7 billion by withdrawing from Affordable Care Act insurance exchanges to make good on threats aimed at coercing government approval of its now-defunct merger with Humana Inc.

  • July 26, 2017

    Gov't Contractor Investors Cry Foul Over $283M HIG Buyout

    A proposed class of investors in information technology firm and U.S. government contractor NCI Inc. has launched a lawsuit against private equity firm HIG Capital LLC in Virginia federal court, saying the company's proposed $283 million deal to take NCI private shortchanges shareholders.

  • July 26, 2017

    Linklaters Atty Denies Link To Husband's Alleged Fraud

    The Linklaters LLP associate whose Massachusetts Institute of Technology whiz kid husband is accused of using her law firm's secret information to make illegal bets on two merger targets is a “brilliant lawyer” who denies wrongdoing, her lawyer said Wednesday.

  • July 26, 2017

    Global Eagle Ends $416M HNA Deal Amid CFIUS Hurdles

    Satellite-based connectivity and media company Global Eagle Entertainment Inc. disclosed Tuesday that its anticipated $416 million investment from an affiliate of Chinese conglomerate HNA Group will no longer move forward, after the deal failed to secure approval from U.S. regulators.

  • July 26, 2017

    Skadden, Sidley Guide $919M State National Sale To Markel

    U.S. insurer Markel Corp. said Wednesday it will purchase specialty insurer State National Insurance Co. in a deal worth $919 million, with Sidley Austin LLP and Skadden Arps Slate Meagher & Flom LLP representing the buyer and seller, respectively.

  • July 26, 2017

    Noble Group Sells US Gas, Power Biz To Mercuria For $248M

    Global commodity trader Noble Group Ltd. said Wednesday it's agreed to sell its U.S. gas and power business to rival Mercuria Energy Group for a total consideration of $248 million, in a deal guided by Davis Polk & Wardwell LLP and Milbank Tweed Hadley & McCloy LLP.

  • July 26, 2017

    Wanted: Savvy Attys To Navigate Complex PE Landscape

    An explosion in the popularity of private equity in the U.S. has led to fierce competition among funds to raise capital from investors and a congested marketplace for deals, and PE clients need legal counsel capable of understanding and advising in an increasingly complicated landscape.

  • July 26, 2017

    Staffing Co. Can’t Evade $1.3M Judgment In Contract Fight

    A Fifth Circuit panel refused Tuesday to upend a jury verdict or subsequent $1.3 million judgment awarded against a staffing company found to have purchased a subsidiary from another business only to short that entity on its contractually promised share of a deferred tax benefit.

Expert Analysis

  • Weekly Column

    Innovating For Wise Juries: Discussions Before Deliberations

    Richard Lorren Jolly

    To be sure, allowing jurors to discuss evidence before final deliberations proved to be among the least popular of our recommended innovations. But empirical evidence belies these fears, say Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project.

  • 5 Questions Firms Should Ask When Evaluating Litigation AFA

    Gregory Lantier

    Law firm management should understand the client’s reasons for requesting an alternative fee arrangement, and whether approving the fee will help grow the relationship with the client, say attorneys with WilmerHale.

  • For Law Firm Offices, Business Savvy Is The New Cool

    Craig Braham

    Having embraced the notion that the right space can reinforce the right firm culture, law firm leaders have been evaluating real estate primarily for its physical properties. However, it's hard to be collegial, even in the coolest of in-house coffee bars, if your cost structure is untenable, says Craig Braham of Advocate Commercial Real Estate Advisors LLC.

  • The Best Documents In Your Case May Be From 3rd Parties

    Wyatt Dowling

    Cases are built on evidence and evidence comes from discovery. But discovery is largely a voluntary process. Serving a document subpoena on a third party can be an efficient and creative way to fill in the gaps that may exist in the productions of opposing parties, says Wyatt Dowling of Yetter Coleman LLP.

  • What To Expect From Antitrust Under Trump

    Edwin S. Rockefeller

    President Donald Trump's nomination of Makan Delrahim to lead the U.S. Department of Justice's Antitrust Division provides little indication of what will become of antitrust. But there are other possible clues as to what may be ahead, says attorney Edwin S. Rockefeller.

  • Planning A Legal Career With A Future Relocation In Mind

    Jacqueline Bokser LeFebvre

    Lawyers move to New York City to work on some of the most sophisticated work the legal market has to offer. This exposure and experience is an amazing asset and many of the skills developed will make associates very marketable in the event they consider relocating to another market. However, this isn’t always the case, says Jacqueline Bokser LeFebvre of Major Lindsey & Africa.

  • 4 Female Perspectives On BigLaw Leadership

    Regina Pisa

    Only a handful of the largest U.S. law firms are led by women. Here, in their own words, are perspectives from Shook Hardy & Bacon Chair Madeleine McDonough, Crowell & Moring Chair Angela Styles, Morgan Lewis & Bockius Chair Jami Wintz McKeon and Goodwin Procter Chair Emeritus Regina Pisa.

  • The Elephant In The Room: Advancing Women To Partnership

    Anusia Gillespie

    Despite more focus and investment, the numbers continue to show little progress in advancing women to the top tiers of firm leadership. Considering the irreversible nature of the transformation of the market for top talent, it is time to start experimenting and innovating from the core, rather than from the periphery, say Anusia Gillespie and Scott Westfahl of Harvard Law School.

  • How Midsize Law Firms Can Minimize Cybersecurity Threats

    K. Stefan Chin

    It can be challenging for midsize law firms to develop an enterprise cybersecurity program that mitigates the eminent threat of data breach and meets the regulatory and compliance requirements of the firm and its clients. This challenge becomes daunting when considering the steady rise in client audits, say K. Stefan Chin of Peckar & Abramson PC and John Sweeney of Logicforce.

  • How Accounts Receivable Insurance Can Help Your Deal

    Jeff Anderson

    Due diligence is a critical part of the M&A process, and with so many risks to assess, accounts receivable often does not get the attention it deserves. Future accounts receivable performance is one area in which buyers have limited control, say Jeff Anderson and Kent Paisley of Allied World Insurance Co.