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Mergers & Acquisitions

  • June 7, 2018

    AmTrust Take-Private Offer Sweetened To $2.95B

    AmTrust Financial Services on Thursday said founding family members and private equity funds managed by Stone Point Capital raised their cash offer to take the company private, now valuing the insurer at roughly $2.95 billion, a proposal met with approval by activist investor Carl Icahn, who had protested the earlier offer in Delaware Chancery Court.

  • June 7, 2018

    ZTE Will Pay $1B, Make Board Changes To End US Export Ban

    Chinese telecom giant ZTE Corp. will pay a record $1.4 billion penalty and replace its entire board of directors in order to regain access to the U.S. supply chain, the Trump administration announced Thursday, closing the book on a whirlwind saga surrounding the company’s illicit sales to Iran and North Korea.

  • June 6, 2018

    Del. Justices Mull Reviving Appeal To $9.2B El Paso Merger

    A former El Paso Pipeline Partners LP investor who challenged a series of company mergers dating to 2011 asked the Delaware Supreme Court Wednesday to resurrect a suit accusing parent Kinder Morgan Inc. of pushing through an unfairly priced rollup of the $9.2 billion business.

  • June 6, 2018

    Fintech-Focused Blank Check Co. Upsizes IPO To $500M

    Far Point Acquisition Corp., a special purpose acquisition company backed by hedge fund Third Point LLC and run by former NYSE Group President Tom Farley in order to buy a fintech company, on Wednesday increased the funding target of its initial public offering to $500 million.

  • June 6, 2018

    Cadwalader Steers Apparel Co.'s Board Toward Gender Equity

    A Destination Maternity investor was frustrated with the direction of the flagging apparel company when he tapped Cadwalader Wickersham & Taft LLP partners Richard Brand and Braden McCurrach to help craft a campaign to put more women on the company's male-dominated board.

  • June 6, 2018

    Planet Hollywood Owner Gets Bertucci's At Auction For $20M

    Restaurant holding company and Planet Hollywood parent Earl Enterprises has purchased bankrupt Bertucci’s at auction for $20 million, bringing the Italian casual dining chain into its wide-ranging portfolio.

  • June 6, 2018

    Convicted Valeant Exec Says Dishonest Juror Tainted Trial

    A former Valeant Pharmaceuticals International Inc. manager awaiting sentencing for his role in a $9.7 million kickback plot has urged a Manhattan federal judge to scrap his conviction, saying one of the jurors lied to hide that she's embroiled in a lawsuit alleging she abused disabled adults at a care facility.

  • June 6, 2018

    'Reckoning' For Antitrust As Comcast-NBCU Conditions End

    U.S. antitrust enforcement is nearing a “moment of reckoning,” Sen. Richard Blumenthal said Wednesday as he looked to the expiration, in a matter of months, of conditions placed on Comcast’s acquisition of NBCUniversal, conditions the Connecticut Democrat has said may need to be extended.

  • June 6, 2018

    Ascendas-Singbridge, Temasek Form $299M Real Estate JV

    Singapore developer Ascendas-Singbridge has joined forces with global investment firm Temasek to form a 20 billion Indian rupee ($299 million) joint venture that will invest in warehouse and manufacturing areas across India, according to an announcement from the companies on Wednesday.

  • June 6, 2018

    Deals Rumor Mill: PetSmart, Azelis, BHP

    PetSmart has tapped restructuring advisers to help trim its debt, British private equity firm Apax Partners is considering selling off Azelis SA, and oil giants including BP Plc and Chevron Corp. have bid for the U.S. shale portfolio of Australian mining giant BHP Billiton Ltd.

  • June 6, 2018

    Fortive Offers $2.7B To Acquire J&J Medical Products Unit

    A Johnson & Johnson unit has received a $2.7 billion offer from industrial equipment maker Fortive Corp. for Advanced Sterilization Products, a leading provider of sterilization and disinfection solutions, according to statements by both companies Wednesday.

  • June 6, 2018

    King & Spalding Nabs International Arbitration Pro In Paris

    King & Spalding LLP on Wednesday said a former Hughes Hubbard & Reed LLP international arbitration expert has joined the firm's Paris office, bringing 20 years of experience in dispute resolution, including construction-related matters in the energy and infrastructure sectors.

  • June 6, 2018

    Nasdaq Withdraws Proposal To Ease SPAC Listing Rules

    Nasdaq Stock Market has withdrawn a proposal to ease its listing rules for special purpose acquisition companies, which are increasingly popular vehicles that conduct initial public offerings to fund acquisitions, the U.S. Securities and Exchange Commission said on Tuesday.

  • June 6, 2018

    Tronc's Ex-Chairman Scraps Planned $208.6M Sale Of Stake

    The former chairman of Chicago-based Tronc Inc. said he scrapped plans to sell his more than one-quarter stake in the newspaper publisher for $208.6 million after the prospective buyer, McCormick Media, breached its obligations under their purchase agreement.

  • June 6, 2018

    Advocate Says Sprint, T-Mobile Merger Would Hurt Consumers

    An antitrust advocate has urged the U.S. Department of Justice to torpedo a proposed $59 billion merger between wireless carriers Sprint and T-Mobile, saying that the separate disruptive force of the two companies keeps the other big telecoms on their toes and that a merger would mean higher prices and fewer options for consumers.

  • June 6, 2018

    Athenahealth CEO Steps Down Amid Review, Elliott Offer

    Massachusetts-based health care software giant Athenahealth Inc. said Wednesday that its CEO has stepped down amid the board of directors’ search for strategic alternatives for the business, misconduct allegations against the executive, and an all-cash offer from activist investor Elliott Management Corp.

  • June 6, 2018

    Latham, Vinson Assist On $3.13B Deal For EnLink Stakes

    Global Infrastructure Partners has agreed to pay $3.125 billion for all of Devon Energy Corp.’s interests in Dallas-based EnLink Midstream Partners LP, in a deal guided by law firms Latham & Watkins LLP and Vinson & Elkins LLP, according to a Wednesday statement.

  • June 5, 2018

    FTC Clears Northrop's $9.2B Orbital Buy With Remedies

    The U.S. Federal Trade Commission said Tuesday that it has cleared Northrop Grumman Corp.’s bid to acquire defense technology services company Orbital ATK Inc. in a deal worth $9.2 billion including debt, but will require the company to sell certain rocket motors to competitors on a nondiscriminatory basis, among other commitments.

  • June 5, 2018

    Chancery Picks Lead Firms For Towers Watson Merger Suit

    Grant & Eisenhofer PA and Kessler Topaz Meltzer & Check LLP won a closely matched lead counsel contest Tuesday for a Delaware Chancery Court suit alleging fiduciary duty breaches in Towers Watson & Co.’s $18 billion merger with insurance brokerage Willis Group Holdings PLC.

  • June 5, 2018

    Rockport's Amended Ch. 11 Bid Protections Get Court's OK

    Bankrupt shoemaker The Rockport Co. LLC cobbled together a resolution Tuesday to address the concerns of unsecured creditors about more than $6 million in bid protections for a stalking horse bidder, gaining the approval of a Delaware bankruptcy judge.

Expert Analysis

  • What Cos. Need To Know About China’s New Market Regulator

    Katherine Wang

    As part of a sweeping government restructuring plan announced last month, China is merging a range of government agencies into the new State Market Regulatory Administration. Multinational companies doing business in China must pay close attention to how functions within the newly consolidated agency will be organized, say attorneys with Ropes & Gray LLP.

  • Finance-Savvy Millennials Are Shifting Business Of Law

    Michael Perlich

    The impact of millennials has already been felt within the legal community by our eagerness to embrace new technologies. One way that we will have potentially even more impact lies in our willingness to embrace new ways of developing business and financing law, says Michael Perich of Burford Capital LLC.

  • Opinion

    Attorney-Client Privilege Is Alive And Well

    Genie Harrison

    The FBI raid of the office of President Donald Trump’s personal lawyer set off a firestorm of controversy about the sanctity of the attorney-client privilege, epitomized by Trump's tweet that the "privilege is dead." But attorney-client privilege is never taken lightly — I have battle scars from the times I have sought crime-fraud exceptions, says Genie Harrison of the Genie Harrison Law Firm.

  • Money Laundering-Themed Securities Suits Are On The Rise

    Harry Dixon

    A recently settled shareholder suit against BancorpSouth was one in a series of securities class actions filed in the wake of money laundering-related enforcement actions. And this trend does not appear to be limited to the United States, says Harry Dixon of Taylor English Duma LLP.

  • Roundup

    Dissolving Practice

    Dissolving Practice

    In this series, experts discuss the unique aspects of closing a law firm, and some common symptoms of dysfunctionality in a firm that can be repaired before it's too late.

  • Series

    Dissolving Practice: How To Fix A Dysfunctional Law Firm

    Larry Richard

    I am often asked, “When there are one or more partner departures, what can a firm do to prevent this from escalating to a catastrophic level?” The short answer is “nothing.” Law firms need to adopt culture-strengthening lifestyles to prevent defections from occurring in the first place, says Larry Richard of LawyerBrain LLC.

  • Series

    Dissolving Practice: Partner Agreement Clauses That Can Help

    ​​​​​Leslie Corwin

    Given the competing public policies of protecting clients’ right to counsel of their choice, lawyer mobility, and the fiduciary duty partners owe to a dissolved firm, it behooves law firms to carefully review their partnership agreements to make sure they adequately spell out what happens in the unfortunate event that the law firm chooses to wind down, say ​​​​​Leslie Corwin and Rachel Sims of Blank Rome LLP.

  • When Are Minority Stockholders Controllers?

    Scott Barshay

    The Delaware Chancery Court's recent decision in a Tesla stockholder case shows that even a shareholder with a “relatively low” ownership stake representing a “small block” may be found to be controlling under certain circumstances, say attorneys with Paul Weiss Rifkind Wharton & Garrison LLP.

  • Series

    Dissolving Practice: The Unfinished Business Doctrine

    Thomas Rutledge

    There has been, of late, significant dispute as to the application of the unfinished business doctrine, particularly with respect to hourly rate matters of now-dissolved large law firms. And the California Supreme Court’s recent decision in Heller Ehrman, like others as to similar points, is highly questionable, says Thomas Rutledge of Stoll Keenon Ogden PLLC.

  • The Impact Of Tax Reform On Film, TV And Print Media: Part 1

    Michele Alexander

    While the media has been reporting on tax reform, tax reform will impact the media industry itself. Reform's effects are numerous, from a reduction in tax rates and new deductions to the loss of important deductions and new international regimes that have kept tax experts waiting in anticipation of further guidance, say attorneys Michele Alexander and Ryan Davis of Bracewell LLP.