Mergers & Acquisitions

  • February 27, 2017

    Tricon Capital To Acquire Silver Bay Realty In $1.4B Deal

    Real estate investment trust Silver Bay Realty Trust Corp. has agreed to be acquired by Tricon Capital Group Inc. in a $1.4 billion all-cash transaction, the companies said Monday, a deal that saw Orrick Herrington & Sutcliffe LLP serving as Silver Bay’s legal adviser.

  • February 27, 2017

    $8.7B PetSmart Appraisal Fight May Pause For Del. Appeals

    A battle over the per-share price paid in the $8.7 billion buyout of PetSmart Inc. in 2015 could get curbed while Delaware’s Supreme Court considers two other big appraisal cases already under appeal, a Delaware vice chancellor said Monday.

  • February 27, 2017

    CEO Reaped Most Benefits Of Health Care Merger, Jury Told

    Shareholders of a chain of inpatient behavioral health centers told a federal jury in Boston on Monday that the company's CEO gave himself a $4.7 million payout and a cushy new job amid a 2011 merger with Acadia Healthcare, while short-changing most investors.

  • February 27, 2017

    Sullivan & Cromwell Snags Ex-DOJ Antitrust Chief Hesse

    Sullivan & Cromwell LLP said Monday that it has brought on Renata Hesse, the former head of the U.S. Department of Justice’s Antitrust Division, bolstering the firm’s competition and merger clearance capabilities with an attorney experienced in both the private and public sectors.

  • February 27, 2017

    Perrigo Inks $2.85B Divestiture Amid Activist Pressure

    Perrigo, amid pressure from activist hedge fund Starboard, said it will sell the royalty rights for a blockbuster multiple sclerosis drug to Royalty Pharma in a Monday deal that could be worth up to $2.85 billion, as it turns its attention toward its consumer-facing and prescription drug operations.

  • February 27, 2017

    Pfeiffer Tells Shareholders To Reject $1B Busch Takeover

    German vacuum pump manufacturer Pfeiffer Vacuum on Monday urged its shareholders to reject a tender offer from rival Busch that would value the company at €949 million ($1.02 billion), calling the price inadequate.

  • February 27, 2017

    Deals Rumor Mill: WeWork, Milestone Apartments, Total

    SoftBank could inject more than $3 billion into WeWork, Milestone Apartments is seeking to raise the price tag of its already agreed upon $1.3 billion takeover by Starwood Capital, and Total is in discussions to buy a multibillion-dollar stake in an Iranian liquefied natural gas export facility.

  • February 27, 2017

    Katten Muchin Adds Finance Partner From Proskauer

    Katten Muchin Rosenman LLP said Monday it has hired a former Proskauer Rose LLP partner who specializes in advising banks, corporations and other financial institutions on how to finance mergers and acquisitions and other deals.

  • February 27, 2017

    Cooley Adds Ex-Stroock PE Leader In Los Angeles

    Cooley LLP said Monday it has hired the former chair of Stroock & Stroock & Lavan LLP’s private equity practice as a partner in its Los Angeles office, bolstering Cooley’s capabilities in complex transactions including acquisitions, public offerings and others.

  • February 27, 2017

    PE-Backed Dospuntos Pays €90M For Spanish Building Co.

    Private-equity-backed real estate development company Dospuntos has agreed to buy Spanish development and construction firm Vía Célere in a deal worth €90 million ($95.45 million), the companies said Monday.

  • February 27, 2017

    China Lodging Inks $530M Deal For Crystal Orange Hotels

    Hotel operator and franchisor China Lodging Group Ltd. said it would buy all of the outstanding shares in a Chinese boutique hotel operator in a 3.65 billion yuan ($530 million) cash deal on Monday that marks China Lodging’s latest expansion in the region.

  • February 27, 2017

    Lone Star Forms $550M Indian Infrastructure Investment JV

    Dallas, Texas-based private equity shop Lone Star Funds is partnering with Indian infrastructure financing and developmental organization IL&FS on a joint venture that will have $550 million to direct toward stressed infrastructure projects in India, the companies said Monday.

  • February 27, 2017

    New Antitrust Snag Trips Up LSEG, Deutsche Börse Merger

    Plans to create Europe's largest stock exchange with the £24 billion ($30.1 billion) merger between the London Stock Exchange Group PLC and Deutsche Börse AG teetered on the brink after the U.K. exchange said late Sunday it couldn't sell a key Italian subsidiary to allay antitrust concerns in time for a Monday deadline. 

  • February 24, 2017

    Share Gain Defended, Fee Disputed In Dell Appraisal Appeal

    Dell Inc. stockholder attorneys who won a 28 percent bump in share prices after a Delaware Chancery Court challenge to a $24.9 billion go-private buyout told Delaware’s Supreme Court late Thursday that justices should either uphold the price over Dell’s objections or take it higher.

  • February 24, 2017

    Judge's Anthem-Cigna Analysis Unfair, Economists Say

    A D.C. federal judge unfairly held Anthem and Cigna to higher standards than the U.S. Department of Justice when assessing potential benefits and costs of a proposed merger, economists and scholars told the D.C. Circuit on Friday.

  • February 24, 2017

    Ex-Lemon Execs Say Calif. Case Should Halt LifeLock IP Suit

    Former executives of Lemon LLC told a Delaware Chancery judge Friday that a suit over intellectual property brought by LifeLock Inc. should be tossed because the same issues have been raised in a California action that has been stayed in that venue, arguing that Delaware precedent prevents overlapping litigation.

  • February 24, 2017

    Cynosure Investors Sue To Block $1.4B Hologic Merger

    Shareholders in medical aesthetics company Cynosure Inc. filed suit in Massachusetts federal court Friday to halt the company’s proposed $1.44 billion sale to Hologic Inc., saying they don’t have enough information to ensure the cash purchase is a good deal.

  • February 24, 2017

    FCC Chief Wants To Nix Charter Merger Overbuild Condition

    Federal Communications Commission Chairman Ajit Pai floated a measure Thursday to cut an Obama-era merger condition placed on last year’s deal between Time Warner Cable and Charter Communications that forces the company to offer services in some already-served areas.

  • February 24, 2017

    Pa. PE Firm's Pretrial Deal With Co. Minority Owners Fails

    A potential settlement that would have released the minority owners of a network infrastructure company from a lawsuit brought by one of Pennsylvania’s largest private equity firms alleging they misrepresented the value of their asset collapsed Friday, after a federal trial had been postponed because of the pending agreement.

  • February 24, 2017

    Weil Lures PE Partner From Gibson Dunn

    A former Gibson Dunn partner who has represented financial advisers in private equity-backed deals with Sheridan Healthcare Inc. and Burger King has joined Weil Gotshal & Manges LLP in New York.

Expert Analysis

  • Initial Lessons From The Anthem-Cigna M&A Lawsuits

    Jonathan Corsico

    Merger agreement provisions such as breakup fees, termination fees, reverse breakup fees, reverse termination fees and closing failure fees are easily misunderstood, as evidenced by the recent competing suits between Anthem and Cigna. The confusion stems, in part, because these fees take a wide range of forms and serve a wide range of functions, say attorneys with Gibson Dunn & Crutcher LLP.

  • How 401(k) Benefits Can Attract Millennial Legal Talent

    Nathan Fisher

    If today’s law firms are willing to rethink their perceptions of millennials, they may see greater success in attracting and retaining new talent by giving the younger generation the kind of retirement planning benefits they want and need, says Nathan Fisher of Fisher Investments.

  • How The Courts Review Executive Orders

    Steven D. Gordon

    The cases challenging President Donald Trump’s executive orders fit within the established legal framework that limits, but does not preclude, judicial review of such orders, says Steven Gordon of Holland & Knight LLP.

  • Why 2017 May Be A Steadier Year For Oil And Gas Firms

    Mark Chehi

    Oil and natural gas markets hit bottom last year, with oil prices 75 percent lower, and gas prices 80 percent lower, than at their 2014 peaks. Oil and gas firms responded with job and capital expense cuts, and many faced restructuring. But steady price growth during the past year has led to more stability, say attorneys from Skadden Arps Slate Meagher & Flom LLP.

  • ERM And The Role Of Counsel In Cross-Border Investments

    Robert Ginsburg

    With the increased popularity of enterprise risk management in multinational companies, executives are asking employees to redefine their roles. Robert Ginsburg, founder of RBG Global, explores how some of the most insidious cross-border risks fall through the cracks and decimate investments — and how lawyers and ERM can catch them before they manifest as losses.

  • What Lawyers Can Learn From Kellyanne Conway

    Michelle Samuels

    Presidential adviser Kellyanne Conway's TV appearances provide some examples of what lawyers should and shouldn't do when speaking to the media, says Michelle Samuels, a vice president of public relations at Jaffe.

  • Latest Twist In The Merger Objection Lawsuit Saga

    Kevin M. LaCroix

    A New York appellate court’s recent decision in Gordon v. Verizon presents a number of important suggestions on the future direction of merger objection lawsuits, and raises the question of whether New York will become an attractive forum for such cases, says Kevin LaCroix of RT ProExec.

  • The Mistakes Lawyers Make When Copying And Pasting

    Robert D. Lang

    We all recognize that cutting or copying text from earlier works and pasting it into new documents saves attorneys time. However, with this increase in speed comes an increased risk of making, or not catching, errors, says Robert Lang of D’Amato & Lynch LLP.

  • Upcoming Revenue Recognition Changes Will Affect M&A

    Frank A. Lazzara

    In 2018, the regulatory landscape surrounding revenue recognition will change for many companies. Deal makers will need to ensure they understand the impact of the new standard on historical results and that any purchase price mechanisms properly reflect the intentions of each party, say Frank Lazzara and John Sullivan of FTI Consulting Inc.

  • Opinion

    Calif. Court Gets Automatic Funding Disclosure Right

    Matthew D. Harrison

    Detractors of litigation funding have strained to characterize a recent decision from a California federal court as significant headway in their crusade against the litigation funding industry. However, in truth, this is a victory for both the industry and those in need of capital to bring meritorious claims against wrongdoers in an often prohibitively expensive legal system, say Matthew Harrison and Priya G. Pai of Bentham IMF.