Payless ShoeSource Inc. is investigating possible legal claims against venture capital backers Golden Gate Capital and Blum Capital, the company said Wednesday, while also separately asking a Missouri bankruptcy court for permission to double store closures from 400 to 800.
Staples has rejected a takeover offer that valued the company at more than $5.8 billion, Web.com is in discussions with private equity firms about a potential buyout, and Advent, Permira and Shanghai Pharmaceuticals have decided not to offer to buy German pharmaceutical company Stada.
Billtrust, a New Jersey-based provider of payment cycle management services to businesses, has secured $50 million in funding from a group of investors led by technology-focused private equity firm Riverwood Capital Management, the companies said Thursday.
Three firms steered initial public offerings this week for private equity-owned cable provider WideOpenWest Inc., software developer Appian Corp. and Brazilian memory chip manufacturer Smart Global Holdings Inc. totaling roughly $438.3 million.
The maker of LifeStyles condoms said Wednesday that it plans to sell its sexual wellness arm to a Chinese consortium for $600 million, as it pivots away from consumer products and toward a business-to-business approach.
Alabama-based Vulcan Materials Co., the largest producer of construction aggregates in the U.S., unveiled plans Thursday to snap up investment firm SPO Partners’ aggregates business in a $900 million cash deal, bolstering its operations in the Southeast.
Cerberus and American Eagle are said to be teaming up for an offer for struggling teen apparel retailer Abercrombie, software maker Unity scored an investment from Silver Lake and Advent and Permira are no longer expected to make a competing bid for generic-drug maker Stada.
Online insurance startup PolicyGenius closed a $30 million funding round Wednesday led by private equity investors Norwest Venture Partners and Revolution Ventures as the firm’s total venture capital investment eclipsed $50 million for the first time in its history.
A private equity firm specializing in investments in companies that provide services to the federal government said it closed its first institutionally backed fund on Wednesday after hitting its $450 million hard cap.
International oil and gas explorer Kosmos Energy Ltd. priced a $290 million secondary offering on Tuesday that will allow funds affiliated with Warburg Pincus LLC and The Blackstone Group LP to shed portions of their stakes in the company.
Investors in medical technology developer Advanced Cardiac Therapeutics Inc. opened a class suit against venture capital giant New Enterprise Associates Inc. and affiliates late Tuesday, accusing NEA of using its control for deals that hobbled ACT’s prospects in a $3 billion industry.
Blank check company CF Corp. unveiled a $1.835 billion private equity-backed deal Monday for Fidelity & Guaranty Life, emerging as a new buyer in the wake of the Iowa-based annuities and life insurance provider’s failed takeover by China’s Anbang Insurance Group.
Financial services technology firm FIS said Tuesday that it has agreed to sell a majority stake in its management consulting business Capco to private equity outfit Clayton Dubilier & Rice in a $477 million deal guided by Willkie Farr & Gallagher LLP and Debevoise & Plimpton LLP.
A hedge fund veteran accused two brothers in New York federal court Tuesday of duping him out of his $30 million stake in a booming prescription service, saying the pair exploited his venture capital reputation while fraudulently reselling the promised shares behind his back.
Private equity firm LCN Capital Partners said Monday that it closed its second iteration of funds, reaching its $750 million target for investments in corporate sale leaseback transactions and other real estate deals in both North America and Europe.
Sinochem is in talks to merge with ChemChina to create a single entity worth roughly $120 billion, Constellation Brands is pursuing an acquisition of Jack Daniel’s parent company, and Europe and Latin America-focused online delivery service Delivery Hero is preparing to go public this summer.
A new energy production and development company focused on the Norwegian continental shelf said Tuesday that private equity shop Blue Water Energy will lead an initial investment that could be worth up to $300 million, making the energy-focused firm the company’s majority shareholder.
Private equity real estate firm ElmTree Funds LLC said it would enter into a $950 million recapitalization agreement with China Life Insurance Group on Tuesday, meaning the companies will share a portfolio of properties under lease in the U.S.
Genworth Financial Inc. investors told a Virginia federal court Monday that Scott + Scott LLP and Johnson & Weaver LLP should not be named lead counsel in their case challenging the insurer’s $2.7 billion sale, saying the firms' client has an incurable conflict of interest from prosecuting two related actions in Delaware court.
Skadden Arps Slate Meagher & Flom LLP has made a major double hire for its London private equity practice with the appointment of a White & Case LLP global private equity group co-head and a private equity partner.
In the second installment of this two-part series on disruptive innovation among mid-size law firms, Jill Dessalines, founder of Strategic Advice for Successful Lawyers and former senior vice president at McKesson Corp., explores a number of ideas for keeping clients and maintaining market position.
As I sat there listening, incredulous to learn that "Milkshake" was not only a real song but also a chart-topper, it reminded me of Harvard Business School Professor Clayton Christensen’s work on disruptive innovation — and how it pertains to mid-size law firms, says Jill Dessalines, founder of Strategic Advice for Successful Lawyers and former assistant general counsel of McKesson Corp.
The Delaware Chancery Court's recent decision in Frederic Hsu Living Trust v. ODN highlights the potential liability that private equity sponsors and directors face when preferred stock held by the sponsor is redeemed. If future decisions intensify this risk, sponsors could consider alternative investment structures, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
Private equity co-investors are often asked to review and respond to draft documentation regarding deal terms on short turnaround times. Christopher Henry of Lowenstein Sandler LLP highlights select items that are typically not addressed in the initial drafts of co-investment documents and that most lead sponsors, when asked, will address.
Every lawyer who’s handled a civil case in federal court knows about Rule 30(b)(6), governing deposition procedures. But for many real-world deposition dilemmas, the rule offers little guidance. Last year, an Advisory Committee on Civil Rules subcommittee began considering whether the rule should be amended. Now attorneys must advise the subcommittee how to proceed, says Frank Silvestri Jr. of Verrill Dana LLP.
Despite an increase in engagement with client feedback programs over the last 15 years, law firms — and their clients — have a way to go before realizing the maximum benefits such programs can deliver, says Elizabeth Duffy of Acritas US Inc.
Adam Tejeda and Elizabeth Crouse of K&L Gates LLP present a brief overview of effectively connected income and the tension between ECI and foreign investors' goals in making U.S. investments.
Most law firms today aren't using common security and data protection measures that other industries employ to protect sensitive data. Options like continuous data replication and backups have various pros and cons, but most importantly, law practices must understand the need for a two-tiered approach to data protection, says Jeff Ton of Bluelock LLC.
As the battle over the Office of the Comptroller of the Currency’s proposed financial technology charter continues, investors in fintech companies should consider what it would mean for their business strategies if fintech companies actually did become banks, says Elizabeth Khalil of Dykema Gossett PLLC.
After showing signs of strength in March, global M&A activity saw double-digit declines in both dollar volume and number of deals in April. In this short video, Ariel Deckelbaum of Paul Weiss Rifkind Wharton & Garrison LLP discusses the latest changes in U.S., global and sponsor-related M&A activity.