Mergers & Acquisitions

  • February 22, 2018

    China Fishery Settlement Clears Way For Sale, Trustee Says

    A group of debtors in the Chapter 11 cases for China Fishery Group Ltd. asked a New York bankruptcy court on Wednesday to approve an intercompany claims settlement designed to clear the way for a sale of valuable interests in China Fishery’s prized operating companies in Peru.

  • February 22, 2018

    Citing Aruba Appraisal Appeal, Attorney Seeks Dell Reset

    The lead counsel in three Delaware post-merger stock price challenges that failed to win higher prices urged a vice chancellor Thursday to stay two earlier, remanded cases pending appeal of the latest, or to reopen the appraisal case record for Dell’s $25 billion go-private deal in 2013.

  • February 22, 2018

    Deals Rumor Mill: Phoenix, Telecom Italia, United Tech

    Phoenix Group is reportedly nearing a deal for Standard Life's insurance unit, F2i and Rai Way increased their bid for Telecom Italia's broadcasting business, and United Technologies' CEO said the company will decide by the end of the year whether to split up.

  • February 22, 2018

    UK Antitrust Agency Eyes Bigger Post-Brexit Role

    The United Kingdom’s competition watchdog is eyeing a leading global enforcement role and greater ownership over U.K.-related mergers and cartel allegations after Britain leaves the European Union, the agency’s general counsel said in a London speech Thursday.

  • February 22, 2018

    Qualcomm Slams Broadcom's Board Picks In Buyout Fight

    Qualcomm urged shareholders on Thursday to back its incumbent directors over Broadcom’s slate of nominees, contending that new directors would not change the board’s opinion that Broadcom’s recently reduced buyout offer is “inadequate.”

  • February 22, 2018

    EFH, Creditor Experts Won't Testify On Reserve Bond Issue

    Experts proposed to testify on issues about interest bonds at the plan confirmation hearing of Energy Future Holdings Inc. will not be permitted to take the stand next week after a Delaware judge said Thursday those issues aren’t relevant to confirmation.

  • February 22, 2018

    Senior Living Center Operator Rejects $1.68B Buy Offer

    Tennessee-based operator of senior living communities Brookdale Senior Living Inc. on Thursday said it rejected a nearly $1.7 billion offer to buy the company after a yearlong strategic review process.

  • February 22, 2018

    Investment Values ProSiebensat.1's NuCom At €1.8B

    European media company ProSiebensat.1 Media SE said Thursday that growth equity firm General Atlantic will pick up a stake in its NuCom Group subsidiary, valuing the unit at €1.8 billion ($2.2 billion) as the media group looks to develop its commerce business.

  • February 22, 2018

    Repsol Inks €3.8B Sale Of Utility Stake To CVC Affiliate

    Spanish energy company Repsol said Thursday it has inked a deal to sell a roughly 20 percent stake in a natural gas and electric utility to a company controlled by CVC-affiliated funds for €3.8 billion ($4.7 billion).

  • February 21, 2018

    Activist Investor Barington Pushes Bloomin' Brands Spinoff

    Activist hedge fund Barington Capital Group LP sent a letter Wednesday to struggling restaurant company Bloomin’ Brands Inc. urging it to spin off its three smaller brands into a new company while leaving its successful Outback Steakhouses to operate independently, among other changes.

  • February 21, 2018

    Wilson Sonsini Hires Ex-Associate As Securities Partner

    Wilson Sonsini Goodrich & Rosati PC will bolster its securities practice by snagging a partner at Goodwin Procter LLP who used to work at Wilson Sonsini as an associate, the firm announced Tuesday.

  • February 21, 2018

    SWS Investor Says Chancery Appeal Gave Heft To Bad Math

    Attorneys for shareholders of financial services firm SWS Group Inc. told a panel of the Delaware Supreme Court that a lower court decision significantly lowering the fair value of company shares in an appraisal action was flawed because it didn’t consider an increase in the number of SWS shares outstanding.

  • February 21, 2018

    Sidley Austin Adds Ex-Winston & Strawn Global Finance Atty

    A financing specialist with experience working on bankruptcies and restructurings has left Winston & Strawn LLP to join Sidley Austin LLP as a partner in its Chicago office, the firm announced Wednesday.

  • February 21, 2018

    FCC’s Pai Won't Recuse Himself In Sinclair Merger Review

    Federal Communications Commission Chairman Ajit Pai recently refused to recuse himself from the agency’s review of Sinclair Broadcasting Group Inc.’s $3.9 billion acquisition of Tribune Media Co., after a Democratic lawmaker cast doubts about his impartiality.

  • February 21, 2018

    Telecoms Press FCC To Halt Verizon's $3B Spectrum Buy

    The Competitive Carriers Association on Tuesday urged the Federal Communications Commission to nix a $3 billion deal that would transfer high-end spectrum critical for use by next-generation wireless services to Verizon, saying the spectrum should be auctioned off to the highest bidder.

  • February 21, 2018

    Deals Rumor Mill: Blackstone, SimplyBiz, Telecom Italia

    Blackstone is reportedly nearing a deal for a sizable stake in an Indiabulls Real Estate unit, SimplyBiz is planning an initial public offering, and the board of directors of Telecom Italia is set to meet to discuss an offer for its broadcasting business Persidera.

  • February 21, 2018

    New Senior Can't Duck Shareholder Suit Over $640M Merger

    New Senior Investment Group’s board and its once-removed corporate overlord, Fortress Investment Group, can’t dodge a derivative suit alleging that the senior housing REIT structured a $640 million deal to benefit Fortress at the expense of its own shareholders, Delaware’s Chancery Court said Tuesday.   

  • February 21, 2018

    Westinghouse Cleared To Solicit Votes On Ch. 11 Plan

    Westinghouse Electric Co. LLC received approval Wednesday from a New York bankruptcy court to distribute its restructuring plan solicitation materials to creditors, keeping the distressed nuclear technology and contracting giant on track to confirm its plan by the end of March.

  • February 21, 2018

    Weil Seeks To Nip Conflict Concerns In Breitburn Ch. 11 Case

    Weil Gotshal & Manges LLP on Tuesday told a New York bankruptcy court that allegations of conflicts of interest involving the bidding for Breitburn Energy Partners LP’s assets were baseless, saying the deal being offered as evidence was with an entity unrelated to the case.

  • February 21, 2018

    Broadcom Lowers Qualcomm Bid After Sweetened NXP Offer

    Broadcom Ltd. on Wednesday lowered its takeover bid for Qualcomm Inc. from $82 per share to $79 per share in response to Qualcomm’s decision to increase its offer for NXP Semiconductors NV by more than $6 billion, but Broadcom reaffirmed that it is still committed to acquiring the California chipmaker.

Expert Analysis

  • Looking Closer At A Record Year For Securities Cases

    Stefan Boettrich

    The pace of securities class action filings, settlements and dismissals in 2017 each reached levels not seen in at least a decade — and 2018 is already looking up. Last year also saw record low settlement metrics, but they do not necessarily portend low aggregate settlements in 2018 and beyond, says Stefan Boettrich of NERA Economic Consulting.

  • Observations On Delaware Appraisal In A Post-Dell World

    John Hughes

    It is too early to assess the full reach that Dell will have on appraisal in Delaware. But the Delaware Chancery Court's ruling last week in Verition Partners v. Aruba Networks provides a first look, say John Hughes and Jack Jacobs of Sidley Austin LLP.

  • 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.