Mergers & Acquisitions

  • April 28, 2017

    Atty Pushes For 2nd Look At Duane Morris Malpractice Claim

    A Philadelphia attorney and part-owner of a company he says was swindled out of a lucrative telecom merger asked a Pennsylvania state judge Thursday to reconsider her decision ending a malpractice suit that accused Duane Morris LLP of botching an appeal over the handling of the deal.

  • April 28, 2017

    Maersk Line Pays $4B To Acquire Hamburg Sud

    The boards of Maersk Line and the Oetker Group have agreed to the sale of container shipping line Hamburg Sud to Maersk, the world's biggest container shipping company, for €3.7 billion ($4 billion), the companies said on Friday.

  • April 28, 2017

    CVC Grabs Major Stake In Swiss Watchmaker Breitling

    London-based private equity shop CVC Capital Partners said it would buy an 80 percent stake in family-owned Swiss watchmaker Breitling SA on Friday, with an eye on expanding the company’s reach into different regions.

  • April 28, 2017

    Hospital Laundry Co.'s Ch. 11 Loan, Bidding Procedures OK'd

    Bankrupt medical laundry and linen management services company Angelica Corp. received final authorization Friday to tap a $65 million Chapter 11 loan and move forward with its agenda to sell the business to a KKR & Co. LP affiliate for $125 million or field a better offer at auction.

  • April 28, 2017

    Taxation With Representation: Skadden, Wachtell, Allen

    In this week’s Taxation With Representation, medical supply company Becton Dickinson buys out competitor C.R. Bard for $24 billion, Allen & Overy and Cravath guide a $4.3 billion acquisition in the pharmaceutical industry, and a merger creates a lodging REIT heavyweight with a $4.2 billion market capitalization in Maryland.

  • April 28, 2017

    Bostwick's $6.5M Asset Sale To Poplar Approved In Del.

    Bankrupt cancer diagnosis firm Bostwick Laboratories Inc. received court approval Friday in Delaware for a $6.5 million sale of its assets to stalking horse bidder Poplar Healthcare Management PLLC, which will be assuming many of the debtor’s leases and contracts in the transaction.

  • April 28, 2017

    Health Hires: 8 Firms Add Health, Life Sciences Experts

    The last few weeks have seen Cooley LLP, DLA Piper, Faegre Baker Daniels Consulting, Fox Rothschild LLP, King & Spalding LLP, Nossaman LLP, Polsinelli PC and Porzio, Bromberg & Newman PC expand their expertise in the health and life sciences worlds.

  • April 28, 2017

    HK Footwear Co. Courted With $6.8B Take-Private Deal

    Hong Kong-based footwear and apparel company Belle International Holdings Ltd. said Friday that a consortium composed of private equity shops Hillhouse Capital and CDH Group, along with some of the company’s executives, have offered to take it private in a deal valued at HK$53.1 billion ($6.8 billion).

  • April 28, 2017

    Anthem Loses Appeal In $54B Cigna Merger Case

    Anthem Inc. on Friday lost its bid to overturn a decision that blocked it from proceeding with its $54 billion merger with Cigna Corp., after a split D.C. Circuit panel was not convinced by the insurer’s argument that the transaction should go through because it would generate savings for customers.

  • April 27, 2017

    Chicago Disclosures Briefly Snag Towing Co.'s Ch. 11 Sale

    A court-recommended qualifier settled a Windy City paperwork dispute Thursday that briefly bogged down a $40 million Delaware Chapter 11 sale of United Road Towing Inc.'s multistate roadside assistance business.

  • April 27, 2017

    SquareTwo Beats Creditor Objection To $59M DIP Loan

    Consumer and commercial debt collector SquareTwo Financial Services Corp. received a New York bankruptcy judge's permission on Thursday to enter into a $59 million interim loan over objections by unsecured creditors that the money was not needed.

  • April 27, 2017

    Rupari Gets Go-Ahead For $26M Ch. 11 Auction Plans

    A Delaware bankruptcy judge cleared Rupari Food Services Inc. on Thursday to go ahead with its plans to hold an auction, with a unit of competitor Carl Buddig and Co. putting in a $26 million floor bid after the debtor agreed to lower the stalking horse protections.

  • April 27, 2017

    Deals Rumor Mill: West Corp., Party City, Precision Capital

    Apollo Global is nearing an acquisition of call center operator and debt collection company West Corp., Party City may be for sale, and Precision Capital is considering a sale of its roughly $1.5 billion stake in Banque Internationale a Luxembourg.

  • April 27, 2017

    EU Merger Rules Should Exclude Minor JV Moves: Adviser

    The European Court of Justice should rule that the conversion of an existing business into a joint venture does not fall under the European Commission’s merger control regime if the venture does not act as an independent economic entity, an adviser to the court recommended Thursday.

  • April 27, 2017

    India Can’t Split Cairn's $4.4B Tax Arbitration

    An international arbitration panel has refused India's request to split an arbitration initiated by U.K.-based Cairn Energy PLC challenging Cairn's $4.4 billion tax bill so the tribunal could first consider whether the claim is outside the scope of protection afforded by a bilateral investment treaty, a company spokeswoman said Thursday.

  • April 27, 2017

    Surge Of Blank Check Cos. To Oil Patch Won't Last

    A recent influx of private equity-affiliated blank check companies looking to buy private energy companies has injected additional deal-making juice into an industry recovering from a prolonged oil price slump, but experts say that wave may recede quickly as traditional initial public offerings for energy firms pick up again.

  • April 27, 2017

    KBL Merger Files $100M IPO To Pursue Health Care Buy

    Blank check company KBL Merger Corp. IV filed a $100 million initial public offering on Wednesday, setting its sights on a health care acquisition, guided by Ellenoff Grossman & Schole LLP.

  • April 27, 2017

    Southeast Regional Banks Ink $691M Tie-Up

    Regional bank holding companies South State Corp. and Park Sterling Corp. said Thursday that they have agreed to merge in a $690.8 million, all-stock deal, which will create a combined entity operating more than 180 bank branches in the southeastern U.S.

  • April 27, 2017

    Investors Challenge $630M Harland Clarke, RetailMeNot Deal

    Just weeks after payment and marketing company Harland Clarke Holdings Corp. announced a $630 million deal to buy online coupon company RetailMeNot Inc., the target's investors launched a class action Wednesday in Delaware federal court saying the deal shortchanged them and the solicitation statement contained falsehoods.

  • April 26, 2017

    2nd Circ. Affirms Call To Toss Ship Investor’s Derivative Suit

    An investment company that sued the directors of Star Bulk Carriers Corp. for cutting deals that allegedly harmed the company’s bottom line was defeated Wednesday in the Second Circuit, which said F5 Capital failed to show that making demands of the directors would have been futile, and clarified its authority in an area where precedent was “virtually nonexistent.”

Expert Analysis

  • Trends In Leveraged Finance

    Excerpt from Lexis Practice Advisor
    Stephen Kessing

    While many experts are optimistic that the Trump presidency will have positive impacts on the financing markets, the regime change’s ramifications for the market are only just coming into focus, say Stephen Kessing and Randall Limberg of Cravath Swaine & Moore LLP.

  • The Mediator’s Proposal As A Tool For Litigants

    Dennis Klein

    Mediators’ proposals, which call for an unconditional and confidential acceptance or rejection, are resolving high-value disputes on a regular basis. Dennis Klein of Critical Matter Mediation examines why this is happening and the tactical implications for litigants in anticipating that a mediator’s proposal could resolve litigation.

  • Unocal Uncertainty, Other Takeaways From Paramount Gold

    Warren S. de Wied

    The Delaware Chancery Court's recent decision in Paramount Gold and Silver Stockholders Litigation highlights the open issue as to whether a post-closing challenge to deal protection devices under Unocal would survive if Corwin were applicable, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Expectations After The Trump Administration's First 100 Days

    Jim Flood

    In its first 100 days, the Trump administration has had mixed results and may be behind where it wants to be. The biggest threat to President Donald Trump’s domestic policy agenda beyond the first 100 days is the difficulty of reconciling the Freedom Caucus Republicans, moderate Republicans and Democrats, say Jim Flood and Cari Stinebower of Crowell & Moring LLP.

  • Post-Closing Liability Risks For Private Equity Firms

    Sara Duran

    Despite thoughtful negotiations, private equity firms selling portfolio companies can have direct post-closing liability. Sara Duran and Sacha Jamal of Sidley Austin LLP look at one example — fraud-in-the-inducement claims — through the lens of the Delaware Superior Court’s recent decision in ITW Global Investments v. American Industrial Partners.

  • The Impact Of Tax Reform On Private Equity

    Charles Walker

    While predicting exactly where President Trump and Congress will land when it comes to tax reform is at best an inexact science, certain themes have emerged, including a widespread elimination of deductions. The impact of eliminating corporate-level deductions for private equity funds cannot be understated, say attorneys with Orrick Herrington & Sutcliffe LLP.

  • The 9-Year Winning Streak Of Virginia ‘Rocket Docket’

    Bob Tata

    Out of 94 district courts, the Eastern District of Virginia has been the fastest civil trial docket in the country for nine straight years. Without micromanaging the process, the EDVA's judges, magistrate judges, and clerks and staff continue to perform at a stunningly efficient level, says Bob Tata of Hunton & Williams LLP.

  • What Act 170 Means For Shareholder Litigation In Pa.

    Michael Kichline

    Pennsylvania corporations should not overlook Act 170’s provisions concerning shareholder litigation, which differ from Delaware’s standards and procedures in several important respects. The newly effective law is more demanding of shareholders and deferential to the properly considered determinations of a corporation, say Michael Kichline and Stuart Steinberg of Dechert LLP.

  • Opinion

    Let's Talk About Half-Hearted Innovation

    Michael Moradzadeh

    Allowing attorneys to telecommute may seem like a great fix for law firms. But without significant changes to the firm's culture, telecommuting is just a patch applied to the problem of attrition, says Michael Moradzadeh, founding partner of Rimon PC.

  • Roundup

    Counsel To Counsel: Insights From Law Firm GCs

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    General counsel at four law firms share the biggest issues they face in an increasingly complex legal environment.