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Mergers & Acquisitions

  • August 8, 2018

    Orix Inks $2.2B Deal For Stake In Aircraft Lessor Avolon

    Japanese financial services group Orix Corp. on Wednesday said it has agreed to buy a roughly one-third stake in Avolon Holdings Ltd. from Bohai Capital for $2.2 billion, the third multibillion-dollar deal Weil Gotshal & Manges LLP has guided the aircraft leasing company through since 2015.

  • August 8, 2018

    3 Firms Steer Starwood's $2.6B GE Energy Finance Biz Deal

    Starwood Property Trust on Wednesday expanded its reach beyond traditional real estate, striking a deal with GE Capital to acquire an arm of its energy finance business for $2.56 billion, with Sidley Austin LLP and Paul Hastings LLP guiding the buyer and Shearman & Sterling LLP guiding the seller.

  • August 7, 2018

    Pinnacle Foods Investor Challenges $10.9B Conagra Deal

    A Pinnacle Foods Inc. investor filed a putative class action in New Jersey federal court Tuesday challenging its proposed acquisition by Conagra Brands for $10.9 billion, saying that he and his fellow investors lack the information necessary to make an informed decision about whether to support the proposed merger.

  • August 7, 2018

    Redstone Video Triggers New Battle In CBS Chancery Suit

    Elderly media figure Sumner Redstone landed back in the middle of a National Amusements Inc. battle to retain control over his empire Tuesday, with a motion in Delaware’s Chancery Court to strike an unauthorized video of the ailing former CEO from a CBS Corp. lawsuit.

  • August 7, 2018

    Bankrupt Real Mex Gets Access To $1.6M In DIP Financing

    The parent company of casual dining chain Real Mex Restaurants received bankruptcy court approval Tuesday to access $1.6 million of a $5.5 million debtor-in-possession financing package after the interim draw amount was slashed in half over questions about workers’ compensation program fees.

  • August 7, 2018

    Cadwalader Can't Call Legal Experts In Malpractice Trial

    Cadwalader Wickersham & Taft LLP can’t call experts in a legal malpractice trial brought by Washington Redskins owner Dan Snyder, after a New York judge found that none of the determinations a jury would have to make require specialized knowledge.

  • August 7, 2018

    PE Firms Trade Fraud Claims In Chancery Over $115M Deal

    Two private equity firms traded fraud and perjury accusations Tuesday during post-trial arguments over allegedly false or distorted seller disclosures before the $115 million sale of then-troubled e-payment processing company Plimus Inc. in late 2011.

  • August 7, 2018

    XpresSpa Directors Shed Much Of Corporate Takeover Suit

    A New York federal judge on Tuesday partly dismissed a suit by the founders of XpresSpa accusing the company’s board and Form Holdings Corp. executives of misleading them into approving Form Holdings' acquisition of the airport spa business, tossing most of the case but letting stand two Exchange Act claims.

  • August 7, 2018

    FTC, Tronox Duel Over Bid To Halt $2.4B Cristal Merger

    Mining and chemical company Tronox Ltd. squared off in D.C. federal court Tuesday against the Federal Trade Commission’s effort to stall its $2.4 billion acquisition of Saudi Arabia-based Cristal, telling a federal judge that the government is unlikely to win an order that would quash the deal.

  • August 7, 2018

    WellCare Eyes Stock And Debt To Fund $2.5B Meridian Buy

    Medicare and Medicaid plan provider WellCare Health Plans Inc. is tapping equity and debt markets to help fund its blockbuster $2.5 billion acquisition of Meridian Health Plans Inc., saying Monday it plans to raise about $1.1 billion in newly issued stock plus $700 million in bonds.

  • August 7, 2018

    Latham Snags Ex-Fenwick M&A Pro Behind Facebook Deals

    Latham & Watkins LLP announced Monday that it has added a former Fenwick & West LLP partner, who advised Facebook on its $1 billion acquisition of Instagram and its roughly $2 billion acquisition of Oculus, to its Silicon Valley corporate department and mergers and acquisitions practice.

  • August 7, 2018

    Deals Rumor Mill: Advent, Alibaba, HNA

    Advent International is reportedly making moves to sell Genoa Healthcare, Alibaba plans to ramp up its rivalry with Meitang Dianping by merging a pair of food delivery units, and HNA Group is in negotiations to sell a roughly 30 percent stake in Avolon Holdings.

  • August 7, 2018

    Paul Weiss Steers KPS' $690M Equipment Biz Sale

    KPS Capital Partners on Tuesday said it will sell the attachments division of heavy equipment manufacturer International Equipment Solutions LLC to Stanley Black & Decker Inc. in a $690 million deal, with Paul Weiss Rifkind Wharton & Garrison LLP guiding the private equity firm.

  • August 7, 2018

    Rams Owner Kroenke Buys Arsenal Soccer Team For £550M

    U.S. businessman and Los Angeles Rams owner Stan Kroenke announced Tuesday he is taking sole control of North London’s Arsenal Premier League soccer club, buying out the remaining shares in the team for £550 million ($712.2 million).

  • August 7, 2018

    5 Ways CFIUS Will Change With New Law

    A bill aimed at overhauling the Committee on Foreign Investment in the United States is close to becoming a law, meaning vast changes are on the horizon for the interagency committee and its process for examining foreign direct investment for national security threats. Here, Law360 outlines five ways the proposed legislation would alter CFIUS.

  • August 7, 2018

    Nordic Capital Sells Logistics Co. To DP World For €660M

    United Arab Emirates-based shipping and trade business DP World said Tuesday that it will buy a Danish logistics company from European investment firm Nordic Capital in a deal worth €660 million ($763 million).

  • August 7, 2018

    Proskauer Lands Ex-Dechert Corporate Partner In DC

    Proskauer Rose LLP has augmented its Washington, D.C., office with the addition of a partner in its corporate department who was previously with Dechert LLP, the firm announced Monday.

  • August 6, 2018

    Court Declines Fast Ch. 11 Hearing On $2.4M Ryckman Claim

    A liquidating trustee for bankrupt natural gas storage venture Ryckman Creek LLC lost a bid Monday for quick rejection of $2.4 million in purchase deductions sought by the company’s Chapter 11 buyer, just ahead of a fight over a disputed $11 million equity payment.

  • August 6, 2018

    Del. Ch. 11 Court OKs Hearing On Weinstein Contract Rules

    Over objections from at least 15 entertainment industry figures, a Delaware bankruptcy judge on Monday scheduled a hearing on streamlined procedures for rejecting or handing off eligible contracts from The Weinstein Co. to buyer Lantern Entertainment LLC.

  • August 6, 2018

    Aerogroup Creditor Agrees To Halt Foreclosure Action

    An attorney for bankrupt shoemaker Aerogroup International Inc. told a Delaware judge Monday that a post-petition lender had agreed to drop its efforts to foreclose on estate property to allow potential litigation against a company that had backed out of a deal to buy Aerogroup’s assets earlier this year.

Expert Analysis

  • Roundup

    From Lawmaker To Lawyer

    From Lawmaker To Lawyer

    Earlier this year, Rep. Trey Gowdy, R-S.C., made headlines with his decision to leave Congress and return to law. ​​In this series, former members of Congress who made that move discuss how their experience on the Hill influenced their law practice.

  • Director Independence Disclosures: Be Careful What You Say

    Courtney Worcester

    Both stockholder plaintiffs and the Delaware courts are increasingly relying on company filings to assess director independence and the existence of a controlling stockholder. Companies should therefore draft independence disclosures not only to comply with the exchange rules, but also with an eye to their potential use in litigation, say attorneys with Foley & Lardner LLP.

  • Opinion

    A Trump Supreme Court Nominee Can Be Defeated

    Nan Aron

    The Senate Republican leadership and the Trump administration are racing to fill Justice Anthony Kennedy’s spot on the U.S. Supreme Court. Does opposition to their plans have any chance of success? My answer is yes, because the stakes are so high, people are so engaged, and the records of those short-listed are so deeply troubling, says Nan Aron, president of Alliance for Justice.

  • Limiting Law Firms' Professional Liability Risks: Part 3

    Stuart Pattison

    As clients increasingly look to limit their own liability exposure, they can reasonably expect that their retained counsel should do the same. In this context, a carefully crafted, thoughtfully presented engagement letter can help a law firm strike a successful balance between protecting itself and preserving a client relationship, say Stuart Pattison and John Muller of Sompo International Holdings Ltd.

  • New Stats On Millennial Attorney Disciplinary Actions

    Jean Edwards

    In this analysis of disciplinary action trends in the legal industry, Edwards Neils LLC managing member Jean Edwards examines data provided by bar organizations for 17 states and the District of Columbia.

  • In A Health Provider Restructuring, Beware The Master Lease

    Steven Horowitz

    A health care operator in financial distress may consider a number of nonbankruptcy options to streamline its operations, dispose of underperforming assets and improve its position. However, an operator with significant assets in a master lease may find that the lease imposes a variety of restrictions, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • Limiting Law Firms' Professional Liability Risks: Part 2

    Stuart Pattison

    With law firms increasingly exposed to professional liability risks associated with their corporate client relationships, firms must craft well-structured client engagement letters to help protect against malpractice claims. Two key elements of an engagement letter are how it defines the scope of engagement and how it handles conflicts of interest, say Stuart Pattison and John Muller of Sompo International Holdings Ltd.

  • Series

    From Lawmaker To Lawyer: Prioritizing Is Always Key

    Joe Lieberman

    Today, members of Congress often seem able to blame colleagues of the other party for not getting anything done for their constituents. In law practice, you can’t really blame a bad result for your clients on the lawyers on the other side, says former Sen. Joe Lieberman, D-Conn., of Kasowitz Benson Torres LLP.

  • Opinion

    Long-Term Investors Must Bring Back The Staggered Board

    Neil Whoriskey

    It is time for long-term investors to recognize that aspects of the "good governance" movement have come at significant cost, to be more wary of partnerships with activists, and to actively create the conditions that will allow focus on the long term. The first step should be to bring back staggered boards, says Neil Whoriskey of Cleary Gottlieb Steen & Hamilton LLP.

  • Limiting Law Firms' Professional Liability Risks: Part 1

    Stuart Pattison

    Corporate law departments are increasingly demanding more concessions from outside legal counsel, and presenting engagement letters that open the door to greater professional and cyber liability exposure for law firms — often beyond the scope of their insurance coverage. Firms must add their own language to engagement letters to limit liability, say Stuart Pattison and John Muller of Sompo International Holdings Ltd.