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Mergers & Acquisitions

  • June 22, 2018

    Jones Day Atty Accused Of Botching Chem Co. Merger Fee

    Bad advice from a Jones Day antitrust lawyer led to a Canadian chemical company getting embroiled in tit-for-tat lawsuits over a multimillion-dollar corporate deal fee that it may have to pay, according to a recent malpractice suit the company filed in Illinois court.

  • June 22, 2018

    CRH To Sell Quarry For Pounding Mill Tie-Up Approval

    Ireland-based building materials firm CRH PLC will offload a quarry to resolve concerns that its proposed acquisition of a Virginia-based quarry owner would hurt competition in the market for products used in construction and road building, the U.S. Department of Justice said in a statement Friday.

  • June 22, 2018

    Taxation With Representation: Latham, Davis Polk, Stikeman

    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.

  • June 22, 2018

    ACLU, Media Groups Blast Proposed Sinclair-Tribune Merger

    The American Civil Liberties Union and several media trade groups have slammed Sinclair Broadcast Group Inc.'s proposed $3.9 billion acquisition of Tribune Media Co., saying the deal will lead to less diversity and the chances of higher prices. 

  • June 22, 2018

    Orrick Lures Cadwalader Antitrust M&A Partner In DC

    Orrick Herrington & Sutcliffe LLP announced the hiring Thursday of new partner Amy W. Ray, a tech-focused antitrust attorney from Cadwalader Wickersham & Taft LLP who’s worked on the competition angle for tens of billions of dollars’ worth of mergers, helping secure regulatory clearance for three massive Microsoft acquisitions.

  • June 22, 2018

    Deals Rumor Mill: Centurium Capital, Tronox, BlackRock

    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.

  • June 22, 2018

    Mitel Investors Want More Info On $2B Searchlight Deal

    A pair of investors for business communications provider Mitel Networks Corp. have launched lawsuits against the company and its board of directors in New York federal court, accusing it of failing to disclose important information related to the company’s $2 billion acquisition by a Searchlight Capital Partners LP-led group.

  • June 22, 2018

    Skadden Steers ModSpace’s $1.1B Sale To Williams Scotsman

    Modular space and portable storage firm Williams Scotsman on Friday said it will take over Pennsylvania-based rival ModSpace Corp. in a deal worth $1.1 billion, with Skadden Arps Slate Meagher & Flom LLP guiding the seller.

  • June 22, 2018

    Don't Miss It: Weil, Sidley Guide Week's Hot Deals

    With so much mergers and acquisitions news this week, you may have missed several deals announced in recent days helmed by firms such as Weil Gotshal & Manges LLP and Sidley Austin LLP. Here, Law360 recaps the ones you might have missed.

  • June 22, 2018

    Weinstein Co.'s Ch. 11 Sale Price Takes $23M Tumble

    The Weinstein Co. told a Delaware bankruptcy judge Friday that a distressed sale of the entertainment company — driven by sex-crime allegations against its co-founder — will likely yield $23 million less than the $310 million cash deal approved in court on May 8.

  • June 22, 2018

    Akin Gump Boosts Tax Group With Ex-Hunton Andrews Atty

    Akin Gump Strauss Hauer & Feld LLP has added to its Houston tax practice a new partner from Hunton Andrews Kurth LLP who will provide tax and mergers and acquisitions advice in the energy sector.

  • June 21, 2018

    Quick Win Bid Denied In Aerogroup Ch. 11 Creditor Fight

    Creditors disputing the allocation of sale proceeds in the Chapter 11 case of shoe retailer Aerogroup International Inc. learned Thursday that a motion for summary judgment in the fight would be denied by a Delaware judge and informed the court of their plan for a hearing on the matter set for next week.

  • June 21, 2018

    AmTrust Shareholders Approve $2.95B Take-Private Deal

    Shareholders in AmTrust Financial Services Inc. voted Thursday to approve a $2.95 billion offer by founding family members and private equity funds managed by Stone Point Capital, greenlighting a take-private deal in the face of opposition from some investors.

  • June 21, 2018

    Liberty Withdraws $1.16B Offer For 40% Of IHeartMedia

    Liberty Media has taken a much talked-about $1.16 billion offer for a 40 percent slice of iHeartMedia off the table, according to a Thursday court filing, leaving the bankrupt radio giant with no outside funding source as it seeks to cut $10 billion from its swollen balance sheet.

  • June 21, 2018

    Fraud, Contract Suit Over $110M Tech Co. Sale Dismissed

    A company that paid $110 million to acquire multinational software firm Symbio SA had its case against the sellers dismissed on Thursday, with a New York state judge saying the buyer's claim that the sellers had fudged Symbio's profits and taxes wasn't enough for the case to advance.

  • June 21, 2018

    HCR ManorCare Presents New Ch. 11 Plan with Better Deal

    Assisted living company HCR ManorCare Inc. returned to Delaware bankruptcy court Thursday to receive approval for an updated Chapter 11 plan that will increase recoveries for equity holders if the acquirer of the debtor’s assets closes a merger of its own.

  • June 21, 2018

    Deals Rumor Mill: ConAgra, Siemens, JAB

    ConAgra Brands reached out to Pinnacle Foods about a possible deal, Siemens AG is planning on cutting nearly half of its industrial divisions, and JAB Holding Co. has almost raised €5 billion ($5.8 billion) with its latest fundraising effort.

  • June 21, 2018

    DOJ’s Delrahim Sees No Need For Rule Revamp For New Economy

    The U.S. Department of Justice’s antitrust chief Makan Delrahim said Thursday that enforcers can keep pace with an evolving economy and emerging technology by staying focused on using the consumer welfare standard to evaluate transactions, despite calls from critics for tougher antitrust rules to tackle the challenges of rapid innovation.

  • June 21, 2018

    Brookfield Bids $515M For Australian Living Community Co.

    Adult living community developer Gateway Lifestyle Group on Thursday said the real estate arm of Canadian firm Brookfield Asset Management offered approximately AU$698 million ($515 million) to take over the Australian company.

  • June 21, 2018

    Andeavor Investors Sue Over Disclosures In Marathon Deal

    A group of Andeavor shareholders has filed a lawsuit in Texas federal court to stop the planned $23.3 billion purchase of the company by Marathon Petroleum Corp., arguing filings with the U.S. Securities and Exchange Commission are incomplete and misleading, meaning shareholders can't make an informed vote on the deal.

Expert Analysis

  • A Survey Of LLC Director Obligations In Delaware: Part 1

    Gail Weinstein

    Recent cases suggest that Delaware courts extend a high degree of deference to limited liability company and partnership agreement provisions. But importantly, the facts and circumstances can also very much affect a court’s decision, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Opinion

    BigLaw's Associate Salary Model Is A Relic Of A Bygone Era

    William Brewer

    Legal industry compensation practices are once again in the news as BigLaw firms continue to match the new high watermark of $190,000 for first-year associate salaries. The typical model of increasing associate salaries uniformly fails star associates, the firms they work for and, ultimately, the clients they serve, says William Brewer, managing partner of Brewer Attorneys & Counselors.

  • When Should Independent Directors Get Their Own Counsel?

    Christopher Kaufman

    With boards of directors facing greater scrutiny from investors and higher risks of litigation than ever before, independent directors should, in certain circumstances, consider having their own legal counsel. Christopher Kaufman, a retired partner of Latham & Watkins LLP, looks at six situations in which the interests of the various groups of directors may be misaligned.

  • #MeToo At Law Firms And What We Can Do About It

    Beth Schroeder.JPG

    While some may say it’s ironic, it’s also embarrassing and enraging that the very industry that offers anti-harassment training, policies and counsel now finds itself the subject of #MeToo headlines. The American Bar Association recommendation that will bring about the greatest change is the call to provide alternative methods for reporting violations, says Beth Schroeder, chair of Raines Feldman LLP's labor and employment group.

  • Knowledge Lawyers Can Help Firms Stay Ahead Of The Curve

    Vanessa Pinto Villa

    In a profession notoriously averse to change, it should come as no surprise that there is skepticism about the value of having attorneys perform nonbillable tasks. But U.S. law firms have slowly begun to incorporate knowledge lawyers into their operations — and the trend is likely to continue, says Vanessa Pinto Villa of Hogan Lovells.

  • Congressional Forecast: June

    Layth Elhassani

    In advance of their weeklong July 4 recess, members of Congress are pursuing a busy legislative schedule, focused on the fiscal year 2019 National Defense Authorization Act and other appropriations bills, reform of export controls, immigration and border security, and the farm bill authorization, says Layth Elhassani of Covington & Burling LLP.

  • An Unprecedented Look Inside The FARA Unit

    Brian Fleming

    For close observers of the Foreign Agents Registration Act, the June 8 release by the U.S. Department of Justice of over 50 FARA advisory opinions was a watershed. These opinions offer an unprecedented glimpse into how the FARA Registration Unit interprets the law, say Brian Fleming and Andrew Herman of Miller & Chevalier Chtd.

  • Why FTC Accepted Conduct Remedies In Northrop Deal

    Francesca Pisano

    The Federal Trade Commission’s approval of Northrop Grumman’s bid to buy Orbital ATK shows that, despite a long-standing preference for structural remedies, the FTC is still willing to consider behavioral or conduct remedies to resolve potential concerns associated with vertical mergers, says Francesca Pisano of Arnold & Porter.

  • Why Lawyers Shouldn't Accept Fees In Cryptocurrency: Part 2

    John Reed Stark

    The legal industry has already begun to feel the impact of anti-bribery and anti-money laundering requirements. When involved with cryptocurrency trading and remittance, law firms face more than the risk of being perceived as organizations that support money laundering practices, says John Reed Stark of John Reed Stark Consulting LLC.

  • Why Lawyers Shouldn't Accept Fees In Cryptocurrency: Part 1

    John Reed Stark

    Law firms are increasingly accepting cryptocurrency as payment for services. While this might seem innovative and forward-thinking, ironically it is much more of a throwback, says John Reed Stark of John Reed Stark Consulting LLC.