Mergers & Acquisitions

  • July 21, 2017

    Chancery Appraisal Cuts Sprint-Clearwire Deal Price In Half

    A Delaware Chancery judge on Friday appraised the per-share value of Clearwire Corp. at $2.13 in its $3.6 billion buyout by Sprint Nextel Corp., lower than half of the market price, dealing a major blow to Aurelius Capital Management LP, which pushed for an appraisal roughly eight times higher.

  • July 21, 2017

    Deals Rumor Mill: China Unicom, Bombardier, RLJ Lodging

    The group of big-name Chinese companies looking to back telecom firm China Unicom continues to grow, Bombardier and Siemens are in the final stages of talks about combining their rail businesses, and Blackstone is pursuing RLJ Lodging.

  • July 21, 2017

    Potential EFH Bidder Granted Emergency Deal Discovery

    The largest creditor of bankrupt Energy Future Holdings Corp. received court approval Friday in Delaware for its discovery request seeking information about the deadlines included in a $9.1 billion acquisition offer from Warren Buffet's Berkshire Hathaway ahead of a scheduling conference on the sale proposal.

  • July 21, 2017

    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 recent days helmed by firms such as Fenwick & West and Cleary Gottlieb. Here, Law360 recaps the ones you might have missed.

  • July 21, 2017

    Taxation With Representation: Bracewell, Baker, Cleary

    In this week’s Taxation With Representation, Ontario’s partially privatized electricity provider agrees to buy U.S.-based Avista Corp. in a $5.3 billion deal, U.K.-based Reckitt Benckiser inks a $4.2 billion sale of its food business to McCormick, and water-service provider Select Energy Services enters into a stock-for-stock merger deal with Rockwater Energy Solutions.

  • July 21, 2017

    CEOs In Hot Seat As Activists Get Bold About Replacements

    Shareholder activists are increasingly setting their sights on replacing public companies’ chief executives, with many making the push early and publicly in campaigns as large-cap companies continue to draw scrutiny, a recent report shows.

  • July 21, 2017

    Hersha Snags Philly Westin For $135M

    Philadelphia-based Hersha Hospitality Trust announced Thursday that it had spent $135 million to acquire the Westin Philadelphia hotel, after selling three suburban West Coast hotels.

  • July 21, 2017

    KKR Joins Venture To Invest $117M In Spanish Real Estate

    KKR & Co. LP, Altamar Capital Partners and Deutsche Finance Group have joined forces with residential real estate firm Elix to create an investment platform that will inject €100 million ($116.7 million) in Spain's residential real estate market, according to an announcement from the firms on Friday.

  • July 21, 2017

    Blackstone, CVC To Offer $3.8B For Paysafe

    Online payments processor Paysafe Group PLC said Friday that it has received a £2.95 billion ($3.8 billion) preliminary buyout proposal from capital equity firms Blackstone Group LP and CVC Capital Partners, the latest stir amid a flurry of recent deals in the payments sector.

  • July 20, 2017

    DC Appellate Court Greenlights Exelon-Pepco Merger

    A D.C. appellate court signed off on a $6.8 billion merger between Exelon Corp. and Pepco Holdings Inc. on Thursday, shutting down arguments from multiple challengers that the Public Service Commission of the District of Columbia shouldn’t have approved the deal.

  • July 20, 2017

    S. Africa Court Seeks More Info On Dow-DuPont Merger Fixes

    South Africa's competition tribunal asked the country's watchdog Wednesday for more information about proposed antitrust remedies for Dow and DuPont's plan to merge into a $130 billion chemicals giant before clearing the deal.

  • July 20, 2017

    Chancery Halts ServiceMesh Case For Criminal Investigation

    A Delaware Chancery judge on Thursday granted the U.S. government’s request to halt all discovery in a case alleging the founder of cloud computing company ServiceMesh Inc. paid bribes to score nearly $100 million in earn-out payments from the company's sale, so the feds can finish a criminal investigation.

  • July 20, 2017

    HK Court Shuts Down AIG Appeal Over Award, Again

    Months after scolding AIG for its "totally without merit" challenge to an arbitral award canceling the insurer's rights to a $475 million deposit on an aircraft leasing unit following a botched sales agreement, a Hong Kong appeals court has once again rebuffed AIG.

  • July 20, 2017

    FTC Approves Baxter $625M Claris Buy With Antitrust Fixes

    The Federal Trade Commission gave its seal of approval Thursday to medical products company Baxter International Inc.’s $625 million purchase of Claris Lifesciences Ltd.’s injectables business, on the condition that Baxter and Claris leave the market for a pair of pharmaceutical products.

  • July 20, 2017

    Jones Day Adds Ex-Shearman Capital Markets Pro In Calif.

    Jones Day has added to its Silicon Valley office a capital markets partner from Shearman & Sterling LLP with experience handling a wide variety of securities offerings, mergers and acquisitions, and venture capital and private equity investments in markets such as Hong Kong, Beijing and Shanghai.

  • July 20, 2017

    Deals Rumor Mill: ADT, Cardinal Health, Adnoc

    Private equity-backed ADT may go public at a $15 billion valuation, Cardinal Health is mulling a $1.5 billion sale of its China unit, and Adnoc tapped four banks for an initial public offering of its retail unit.

  • July 20, 2017

    Rising Star: Morrison & Foerster's Lauren C. Bellerjeau

    Morrison & Foerster LLP’s youngest partner, Lauren Bellerjeau, has helped push the firm's mergers and acquisitions practice into the world of real estate investment trust transactions and has taken the lead on major deals including the sale of GE’s commercial real estate unit to Blackstone, earning her a spot among attorneys under 40 being honored by Law360 as Rising Stars.

  • July 20, 2017

    Ingenico Drops $1.74B On Rival Payment Firm Bambora

    French payment services company Ingenico Group said Thursday it will pay €1.5 billion ($1.74 billion) to acquire Swedish rival Bambora from private equity owner Nordic Capital Funds, in another major tie-up between payment providers in July.

  • July 20, 2017

    FTC Names Shearman Atty As Latest Competition Unit Head

    Just two weeks after acting Federal Trade Commission Chairman Maureen K. Ohlhausen picked her third new acting director of the agency’s bureau of competition, she announced on Thursday that she had selected someone else to temporarily lead the bureau, this time naming a Shearman & Sterling LLP partner.

  • July 19, 2017

    Unilife Receives Court OK For Sales To Credit Bidders

    Bankrupt medical device maker Unilife Corp. received court approval Wednesday in Delaware for three sale transactions following an auction Monday that will wipe more than $40 million in debt from the company's balance sheet.

Expert Analysis

  • 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.

  • The ‘Failing Firm’ Defense: Pointers From A Blocked Deal

    Danyll Foix

    The recently blocked merger between EnergySolutions and Waste Control Specialists not only confirms that exclusive negotiation, or “no talk,” terms in transactions can thwart antitrust defenses like the “failing firm” defense, but also illustrates how parties may implement these terms without creating antitrust problems, says Danyll Foix of BakerHostetler.

  • Weekly Column

    Innovating For Wise Juries: Matching Experts

    Stephen Susman

    In the penultimate installment of this series, Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project answer a question on many legal analysts’ minds: What if both sides’ expert witnesses sat in a hot tub discussing the case while a jury watched?

  • The CFIUS Calculus Has Changed — In More Ways Than One

    Stephen Heifetz

    Recent unwritten changes to the Committee on Foreign Investment in the United States, made in the name of national security, may undermine the committee's original purpose, says Stephen Heifetz, a partner with Steptoe & Johnson LLP who previously served as the Department of Homeland Security’s CFIUS representative.

  • Rebuttal

    The Rise Of Midsize Firms

    Ronald Shechtman

    Recently, this publication featured an op-ed in which one law firm partner contended that midsize firms will be the next casualty of the legal market, due to a supposed inability to compete with BigLaw or boutique firms for business. Though we can expect to see Am Law firms continue to lead the market in megadeals and life-or-death litigations, by all indications midsize is on the rise, says Ronald Shechtman of Pryor Cashman LLP.

  • 5 Questions To Ask Yourself Before Submitting Litigation AFA

    Gregory Lantier

    Outside counsel should be able to articulate why she is proposing an alternative fee arrangement for this matter. If the client has not requested an AFA or the case is unusually difficult to budget with accuracy, this might not be the case to propose an AFA, say attorneys with WilmerHale.

  • How Mobile Apps Can Benefit Your Practice

    Sean Cleary.jpg

    Despite the boom in mobile application development, many lawyers are still reluctant when it comes to using apps in their daily work. Attorney Sean Cleary explores the benefits and shares some recommendations for apps geared toward attorneys.

  • A Snapshot Of M&A Activity In June

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    Despite headline-grabbing deals such as Amazon's proposed acquisition of Whole Foods, overall M&A activity was down in June. Ariel Deckelbaum of Paul Weiss Rifkind Wharton & Garrison LLP brings us the latest changes in U.S., global and sponsor-related M&A activity.