Mergers & Acquisitions

  • February 16, 2018

    Hedge Fund's $26.2M Bid Tops Ch. 11 Auction For Aerogroup

    Hedge fund Alden Global Capital emerged as the apparent winning bidder in Delaware on Friday for bankrupt shoe retailer Aerogroup International Inc., with a $26.175 million bid that capped a nearly 24-hour, sometimes “testy,” marathon auction.

  • February 16, 2018

    DOJ Resists AT&T Request For Evidence Of Trump’s CNN Ire

    President Donald Trump’s tirades against CNN on and off the campaign trail have nothing to do with the U.S. Department of Justice’s lawsuit opposing AT&T’s proposed $85 billion purchase of CNN parent Time Warner, a DOJ attorney said Friday in fighting the distracting “sideshow” of discovery into the matter.

  • February 16, 2018

    Jones Day Competition Head Moves To Skadden

    Skadden Arps Slate Meagher & Flom LLP has reportedly poached Jones Day’s Washington-based global antitrust and competition practice head, David Wales.

  • February 16, 2018

    Takata Wins Nod For Ch. 11 Plan Confirmation, $1.6B Sale

    A Delaware bankruptcy judge agreed Friday to confirm Takata’s Chapter 11 plan that centers on a $1.6 billion sale to Key Safety Systems Inc. and uses proceeds to pay victims of Takata's dangerously defective air-bag inflators, after hearing that the major creditor groups were all on board.

  • February 16, 2018

    Health Care-Focused Blank Check Co. Prices $250M IPO

    Blank check company DFB Healthcare Acquisitions Corp., formed by investment firm Deerfield Management and led by a longtime health insurance CEO, said it raised $250 million in an initial public offering Friday to support the intended acquisition of a health care business.

  • February 16, 2018

    EFH Raises Questions Over Reserve Fund Interest Payments

    Bankrupt energy provider Energy Future Holdings Corp. made a hastily scheduled appearance Friday in Delaware court to ask for guidance on issues related to a $275 million fund reserve being created to cover a potential claim from a jilted sale partner.

  • February 16, 2018

    Weil's Role Part Of Probe Of Breitburn Conflict Claims

    A New York bankruptcy judge Friday said he would hold a hearing to address a Breitburn Energy Partners LP bondholder’s claim of conflicts of interest between a prospective stalking horse bidder, a Breitburn lienholder and Breitburn bankruptcy counsel Weil Gotshal & Manges LLP.

  • February 16, 2018

    Kindred Investors Seek To Stop Humana's $4.1B Acquisition

    A proposed class of Kindred Healthcare Inc. shareholders filed a memorandum Friday in Delaware federal court supporting their motion to halt the progress of a $4.1 billion acquisition of the company by Humana Inc. and two private equity firms until alleged deficiencies in a proxy statement are cured.

  • February 16, 2018

    Polsinelli Adds Consumer Products Team From Holland & Hart

    Polsinelli PC has hired a trio of food, beverage and consumer goods attorneys from Holland & Hart LLP, bringing on the Colorado-based team's experience handling mergers and acquisitions, securities offerings, regulatory work and capital-raising for emerging growth companies in the industry.

  • February 16, 2018

    Couche-Tard Wins FTC OK For Holiday Buy With Store Sales

    The Federal Trade Commission has approved a deal that will see Canadian gas station and convenience store operator Alimentation Couche-Tard Inc. sell 10 locations in Minnesota and Wisconsin to assuage antitrust concerns over the company’s acquisition of Midwestern competitor Holiday Stationstores Inc. and affiliates, the agency said Friday.

  • February 16, 2018

    Deals Rumor Mill: Uber, Walmart, Thomson Reuters

    Uber is reportedly getting ready to take a large stake in taxi and carpooling company Grab, Walmart is mulling a deal for a more than 40 percent stake in Flipkart, and $15 billion in financing is backing a Blackstone-led consortium’s $17 billion bid for Thomson Reuters’ financial and risk business.

  • February 16, 2018

    DOJ Deputy Welcomes Critiques Of Antitrust Enforcement

    The economics deputy for the U.S. Department of Justice’s antitrust division said Friday that he welcomes recent critiques of antitrust enforcement, including claims that enforcers have been too lax, but said the criticism doesn’t seem to be grounded in actual evidence.

  • February 16, 2018

    Qualcomm Still Anti-Broadcom Deal, But Open To More Talks

    Qualcomm Inc. on Friday said it is still opposed to Broadcom Ltd.’s $121 billion takeover offer after the sides met earlier in the week to discuss a possible deal, but called the discussions “constructive” and remained open to additional talks.

  • February 16, 2018

    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 the last several days helmed by firms such as Sullivan & Cromwell LLP and Locke Lord LLP. Here, Law360 recaps the ones you might have missed.

  • February 16, 2018

    Boston Herald Cleared For $12M Ch. 11 Sale To MediaNews

    The Boston Herald on Friday secured court approval for the tabloid's $11.98 million sale to hedge fund-controlled MediaNews Group, under a business-saving deal expected to close by March 28.

  • February 16, 2018

    Sidley Austin Lures Proxy Pro From Vinson & Elkins

    Sidley Austin has hired a mergers and acquisitions partner who founded and led Vinson & Elkins’ shareholder activism team and has been involved in more than 20 proxy contests.

  • February 16, 2018

    Leagold Mining Raises Offer For Brio Gold To $279M

    Vancouver, British Columbia-based Leagold Mining Corp. on Friday sweetened its now mutually agreed upon offer for Toronto rival Brio Gold Inc., hiking the price it originally lobbed last month to nearly $279 million.

  • February 16, 2018

    Taxation With Representation: Kirkland, Davis, Skadden, Weil

    In this week's Taxation With Representation, Wyndham sold its European vacation rental business to Platinum Equity for $1.3 billion, LyondellBasell bought A. Schulman for $2.25 billion, Hoffman-La Roche proposed buying Flatiron Health for $1.9 billion, and Charles River Laboratories acquired MPI Research for $800 million.

  • February 16, 2018

    A Dozen Firms Guided 2017's Largest PE Real Estate Deals

    Private equity continued to do large real estate deals in 2017, particularly foreign firms buying portfolios, and the 10 largest transactions of the year — each of which was north of $2 billion — got done with the help of a dozen law firms.

  • February 16, 2018

    How To Help Clients Guard Against Interloping Bidders

    Though rival bids from third-party suitors rarely succeed, they can be discouraging after attorneys have spent months diligently working on an acquisition. However, there are ways lawyers can make it more likely their client will prevail, including by building protections against so-called interlopers into the original deal agreement.

Expert Analysis

  • A Guide To Financing Food And Beverage Companies In 2018

    Will Bernat

    With investment dollars continuing to flow in 2018, high-growth food and beverage brands will have the opportunity to think strategically and creatively about the investors they work with and deal structure, says Will Bernat of Nutter McClennen & Fish LLP.

  • How Emerging Sources Of ESI Will Impact Discovery

    Charles McGee

    Late last year, the Sedona Conference released the third edition of its principles addressing electronic document production, updated to account for innovations like Snapchat and Twitter. It may be necessary for these principles to be updated more often in order to keep pace with technology, says Charles McGee III of Murphy & McGonigle LLP.

  • Put The Brakes On Acceleration Bay Litigation Funder Ruling

    David Gallagher

    Last week, the District of Delaware raised eyebrows by ruling that documents provided to a litigation funder and its counsel in connection with their due diligence are categorically not attorney work product. Acceleration Bay v. Activision Blizzard seems to be a case of bad facts making bad law, says David Gallagher, investment manager and legal counsel for Bentham IMF.

  • Mitigating Antitrust Risks In Nonreportable Transactions

    Gregory Heltzer

    There has been a flurry of antitrust challenges of nonreportable transactions under President Donald Trump, more than doubling the annual rate of such challenges during the last four years of the Obama administration. It is easy to see that not reportable does not mean not reviewable, say Gregory Heltzer and Lisa Peterson of McDermott Will & Emery LLP.

  • Considerations For Attorneys Using Artificial Intelligence

    Ben Allgrove

    Artificial intelligence tools can empower attorneys to work more efficiently, deepen and broaden their areas of expertise, and provide increased value to clients, which in turn can improve legal transparency, dispute resolution and access to justice. But there are some common pitfalls already apparent in the legal industry, say Ben Allgrove and Yoon Chae of Baker McKenzie.

  • Meditate On The Clause

    Ambassador David Huebner

    I have often suggested at arbitration conferences that the writing of any more articles on how to draft an arbitration clause should be outlawed. Yet, as an arbitrator, I continue to encounter cases in which inartfully drafted dispute resolution clauses cause confusion. At the risk of contributing to the scourge of online clutter, I will share a few brief thoughts on clause misfires, says David Huebner, a JAMS panelist and former U... (continued)

  • CFIUS Scrutiny Of Foreign Acquisitions Intensifies

    John Barker

    The environment for foreign investment in the United States is shifting. Most recently, the Chinese acquisition of MoneyGram was derailed after the Committee on Foreign Investment in the United States rejected proposals offered to try to mitigate national security concerns. At the same time, U.S. legislation to enhance CFIUS controls seems to be gaining momentum, say attorneys with Arnold & Porter.

  • Tips For Drafting Contractual Nonreliance Clauses

    Amy Park

    Contractual nonreliance provisions, sometimes called “big boy” letters, have received their fair share of attention, but little attention has been paid to the effect forum selection and choice-of-law issues have on such provisions. The choice of where to litigate and which law will govern can significantly impact, if not conclusively determine, the outcome of a dispute, say Amy Park and Niels Melius of Skadden Arps Slate Meagher & Flom LLP.

  • Series

    Judging A Book: Duncan Reviews 'Justice And Empathy'

    Judge Allyson Duncan

    In "Justice and Empathy: Toward a Constitutional Ideal," the late Yale Law School professor Robert Burt makes a compelling case for the undeniable role of the courts in protecting the vulnerable and oppressed​. But the question of how the judiciary might conform to Burt’s expectations raises practical problems​, says U.S. Circuit Judge Allyson Duncan of the Fourth Circuit. ​

  • The Art Of The Litigation Funding Deal

    Julia Gewolb

    As litigation funding becomes more widespread, greater complexity and variability in funding deals are to be expected. All claimants should consider certain key questions on the economics of single-case funding when considering or comparing funding terms, says Julia Gewolb of Bentham IMF.