Mergers & Acquisitions

  • December 1, 2017

    Taxation With Representation: Debevoise, Clifford, Sullivan

    In this week’s Taxation with Representation, Meredith Corp. acquired Time Inc. for $2.8 billion, Thoma Bravo picked up Barracuda for $1.6 billion, Cerberus snapped up BBVA’s real estate business for $4.74 billion and Altran shelled out $2 billion for Aricent.

  • December 1, 2017

    Senate GOP Reaches SALT, Pass-Through Tax Rate Deals

    The Senate’s $1.4 trillion tax cut bill appeared to be nearing final passage in the chamber Friday after agreements were reached to increase the tax benefit for pass-through businesses and permit a deduction for state and local property taxes.

  • December 1, 2017

    Danish Energy JV Drops $3.3B On Gas Field Redevelopment

    A joint venture of major energy companies including a Royal Dutch Shell PLC unit and A.P. Moller-Maersk Group will invest 21 billion Danish crowns ($3.35 billion) to redevelop a North Sea gas field and extend its operational life, Moller-Maersk said in a statement Friday.

  • November 30, 2017

    Judge Finds No Evidence DuPont Knowingly Misled Investors

    A Delaware state judge has dismissed a shareholder’s suit alleging DuPont executives intentionally misrepresented the potential success of a spinoff of the company’s performance chemicals division into the Chemours Co., saying the shareholder had failed to show executives purposely misled investors.

  • November 30, 2017

    Reynolds Wins Ruling Over ITG In Fla. Tobacco Fee Dispute

    Tobacco company ITG Brands LLC lost out on Thursday in a dispute over whether or not it’s obligated to keep trying to reach a deal with Florida over costs tied to its $7 billion dollar purchase of four cigarette brands from R.J. Reynolds Tobacco, after Delaware’s Chancery Court ruled the burden is solely ITG’s to bear.

  • November 30, 2017

    Hyper-Accelerated Maurice Sale Plans Draw Trustee Rebuke

    A 32-day sale timeline proposed by bankrupt retail distributor Maurice Sporting Goods Inc. drew an objection from the U.S. trustee Thursday, who said the plan does not provide enough time for the assets to be marketed or for bidders to perform due diligence before the Dec. 13 bid deadline.

  • November 30, 2017

    Sullivan & Cromwell Guides $2B Engineering Merger

    Engineering company Altran Technologies SA has acquired California-based design and engineering company Aricent from private equity firm KKR & Co. for €1.7 billion ($2 billion) with guidance by Sullivan & Cromwell LLP, the buyer said Thursday.

  • November 30, 2017

    Deals Rumor Mill: CVS, Terra Firma, SoftBank

    A megamerger involving CVS and Aetna may be imminent, Terra Firma is looking to sell $1.2 billion worth of Italian solar power assets, and SoftBank is trying to build up its stake in Indian e-commerce website operator Flipkart.

  • November 30, 2017

    Ardian Aims To Pick Up French Plant-Based Chemical Co. DRT

    French private equity firm Ardian said Thursday it is in exclusive talks with backers of resin and turpentine manufacturer Dérivés Résiniques et Terpéniques for a controlling stake in the company, in a deal that would value DRT at €1 billion ($1.19 billion).

  • November 30, 2017

    ACCC, Rival Won't Appeal OK Of $4.8B Betting Co. Merger

    The Australia Competition and Consumer Commission has said it won’t challenge a court decision approving Tabcorp Holdings Ltd.’s AU$6.37 billion ($4.84 billion) takeover of Tatts Group Ltd., hours after rival online betting platform CrownBet Pty Ltd. on Thursday struck a deal not to appeal the decision.

  • November 30, 2017

    Churchill Downs Sells Mobile Gaming Co. For $990M

    Churchill Downs Inc. said Wednesday it will sell its mobile gaming subsidiary, Big Fish Games Inc., to Australian gaming machine company Aristocrat Leisure Ltd. for $990 million, allowing the Kentucky Derby operator to refocus on its core casino and racing business.

  • November 29, 2017

    Breitburn Clears Ch. 11 Hurdle Amidst Creditor Deal

    Breitburn Energy Partners LP cleared a major hurdle in its Chapter 11 proceedings on Wednesday after a New York bankruptcy judge approved its disclosure statement and a crucial backstop agreement following an 11th-hour deal with creditors, even as shareholders vowed to continue fighting the contentious plan.

  • November 29, 2017

    DOJ Clears RealPage's $300M Rent-Pricing Provider Deal

    Real estate data analytics and software provider RealPage announced Tuesday that its proposed $300 million acquisition of a revenue management system has been approved by the U.S. Department of Justice, clearing the purchaser’s latest move to bolster its data-driven pricing options for apartment complex owners and operators seeking to lease their properties.

  • November 29, 2017

    Senator Quizzes SEC Nominees On Activism, Pay, Buybacks

    Wisconsin Democratic Sen. Tammy Baldwin threatened to hold up the nominations of two nominees for the U.S. Securities and Exchange Commission on Wednesday unless they field questions on executive pay and share buybacks that companies execute under pressure from activist investors.

  • November 29, 2017

    AT&T Chief Says DOJ's Time Warner Suit Hurts Rule Of Law

    AT&T Inc.'s chief executive said Wednesday that the U.S. Department of Justice’s decision to challenge its planned $85.4 billion purchase of Time Warner Inc. represents an abrupt change in antitrust policy and risks upending the rule of law.

  • November 29, 2017

    Takata Creditors Balk At Proposed $12M Mexican Unit Outlay

    Several major creditor groups in the Takata Chapter 11 took issue Wednesday with the debtor’s bid to spend $12 million on its Mexican affiliates to prepare the proposed $1.6 billion sale at the center of the case they already see as problematic, arguing it has thin evidentiary support.

  • November 29, 2017

    Deals Rumor Mill: Unilever, GFL Environmental, Rumo

    Three suitors remain in the race to buy Unilever's multibillion-dollar margarine and spreads business, a Canadian waste management company is seeking to raise CA$1 billion or more in an IPO, and Brazilian logistics company Rumo is looking to sell a stake in a railroad system that serves southern China.

  • November 29, 2017

    REIT New Residential Snags Mortgage Originator For $190M

    Publicly traded real estate investment trust New Residential Investment Corp. on Wednesday said it inked a $190 million deal to acquire residential mortgage origination and investment company Shellpoint Partners LLC.

  • November 29, 2017

    La Paloma's Ch. 11 Buyer Fights Calif. Air Board's Appeal Bid

    La Paloma Generating Co. LLC’s buyer and senior creditor LNV Corp. late Tuesday opposed California regulators’ efforts to halt pending appeal the Delaware bankruptcy court’s decision taking the purchaser off the hook for roughly $60 million in environmental liability, arguing that the move ignores the mechanics of bankruptcy appeals.

  • November 29, 2017

    DOJ Plan To Speed Merger Reviews Gets Skeptical Response

    The U.S. Department of Justice Antitrust Division’s new leadership has been talking about plans to tackle a steady rise in the length of time it takes to complete merger reviews, but antitrust attorneys tell Law360 more can be done.

Expert Analysis

  • The Law Firm CFO’s Role In The Strategic Planning Process

    Tyler Quinn

    Today's law firm chief financial officer should be involved in many areas beyond traditional financial management, including operations, risk management and information technology. He or she can support strategic planning throughout the process, from development of the plan to its implementation, measurement and eventual evolution, say Tyler Quinn and Marc Feigelson of Kaufman Rossin PA.

  • Law Firms Must Transition To An Industry Sector Approach

    Heidi Gardner

    Clients are beginning to expect and demand that their external lawyers provide advice tailored to the client's industry. Aside from this, law firms should want to move toward a sector approach because industry-focused groups are a natural place for cross-practice collaboration to flourish, say Heidi Gardner and Anusia Gillespie of Harvard Law School.

  • On Second Thought: EFH Court's Extraordinary Move

    Steven Wilamowsky

    The Delaware bankruptcy court’s recent decision in Energy Future Holdings, granting a motion to reconsider a decision it made over a year ago and denying a breakup fee it had previously approved, is at once troubling and instructive, say Steven Wilamowsky and Sara Ghadiri of Chapman and Cutler LLP.

  • Series

    Judging A Book: Kozinski Reviews 'The Judge'

    Judge Alex Kozinski

    In their new book, "The Judge: 26 Machiavellian Lessons," do Ronald Collins and David Skover prove their thesis that hypocrisy is the key to judicial greatness? Some of the examples they present are hard to dispute, says Judge Alex Kozinski of the Ninth Circuit.

  • Anti-Inversion Rule Down, But Not Out, With Texas Ruling

    Mary Monahan

    A Texas federal court recently struck down the temporary anti-inversion regulation charged with preventing the planned merger between Pfizer and Allergan as well as other cross-border transactions. The decision may have significant procedural implications, but there may be little practical import for this specific regulation, say attorneys with Eversheds Sutherland.

  • Financial Crisis Anniversary

    New Post-Recession Metrics For BigLaw Partner Success

    Peter Zeughauser

    After nearly a decade of recession-accelerated change in the legal industry, “merit-based” compensation has largely come to mean measuring attorney success using some combination of origination and working attorney hours metrics. However, there are signs that the real impact of the recession is still around the corner, and that building a book isn’t enough, says Peter Zeughauser of Zeughauser Group.

  • Opinion

    Time To Lift Student Loan Counseling Restrictions

    Christopher Chapman

    While it lends more than $100 million each year to our nation’s college students — including law students — the U.S. Department of Education surprisingly limits loan counseling to one-time entrance counseling for first-time student borrowers. Is this rational? asks Christopher Chapman, president of AccessLex Institute, a nonprofit focused on access to legal education.

  • Learning From DOJ’s Parker Hannifin Merger Challenge

    Jack Sidorov

    The U.S. Department of Justice's recent lawsuit challenging Parker Hannifin’s consummated acquisition of Clarcor serves as an important reminder that the agencies can — and in some limited instances will — challenge consummated transactions that were reported to them under the Hart-Scott-Rodino Act, says Jack Sidorov of Lowenstein Sandler LLP.

  • Why You Should Consider Hyperlinking Your Next Brief

    Christine Falcicchio

    The shift to electronic filing has somewhat eased the task of reviewing briefs and their supporting files. An e-brief takes e-filing to the next level, says Christine Falcicchio, a principal at Strut Legal Inc.

  • Preparing For NYC's New Salary History Law

    Michael Albano

    Recent guidance from the New York City Commission on Human Rights clarifies several aspects of the city's new salary history law that takes effect this month, including its application in the context of corporate acquisitions, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.