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Private Equity

  • December 12, 2018

    ARRIS Stockholder Seeks To Halt $7.4B CommScope Buy

    ARRIS International PLC has been hit with a proposed class action by an investor seeking to stop the technology company from being acquired by telecom CommScope in a proposed $7.4 billion private equity-backed deal, with the stockholder claiming not enough information has been provided about the transaction.

  • December 12, 2018

    Tokopedia Lands $1.1B E-Commerce Funding Round

    Indonesian technology company and e-commerce platform PT Tokopedia said on Wednesday that it has closed its latest funding round with $1.1 billion in commitments that it plans to use to increase technology and infrastructure to help grow local businesses.

  • December 12, 2018

    Feds Call For CPA To Be Imprisoned For Role In $18M Fraud

    Federal prosecutors urged a California district court to reject an accountant’s plea for leniency following his guilty conviction in a client’s $18.2 million fraud, calling instead for a “significant” prison sentence on Wednesday to deter other tax return preparers.

  • December 12, 2018

    Energy Co. Cavalcade Midstream Gets $150M Equity Funding

    Texas-based, full-service midstream energy company Cavalcade Midstream said Wednesday that it has received a total equity commitment of $150 million, forming a partnership that was guided by Norton Rose Fulbright and saw Thompson & Knight LLP advising the investors.

  • December 12, 2018

    Investor Seeks Halt Of $1.9B Apptio-Vista Deal For More Info

    An Apptio Inc. shareholder filed a proposed class action in Delaware federal court on Tuesday seeking to halt the information technology company’s proposed $1.9 billion merger with Vista Equity Partners, claiming not enough information has been provided for investors to make an informed vote on the transaction.

  • December 12, 2018

    Nixon Peabody Snags Corporate Pro For San Francisco Office

    Nixon Peabody LLP has announced that it boosted its corporate practice in Northern California with a former Perkins Coie LLP attorney with experience in emerging growth companies, venture capital and mergers and acquisitions in the technology industry.

  • December 12, 2018

    Deals Rumor Mill: Uber, Warburg Pincus, Luckin Coffee

    Morgan Stanley will lead the IPO of Uber, which could value the ride-hailing giant at up to $120 billion, Warburg Pincus is launching a $1 billion joint venture that will invest in Chinese real estate, and China's Luckin Coffee has received a $200 million capital injection from private investors.

  • December 12, 2018

    4 Firms Advise As PE Firm Pays $183M For Defense Tech Co.

    Private equity firm Cerberus Capital Management LP has agreed to buy defense technology company Sparton Corp. for about $183 million, the companies said Wednesday, a deal shepherded by Lowenstein Sandler LLP, Kirkland & Ellis LLP, Blank Rome LLP and Mayer Brown LLP.

  • December 12, 2018

    Gaw-Goldman Venture Drops $1.5B On 12 Hong Kong Malls

    A venture led by Hong Kong private equity shop Gaw Capital Partners that includes Goldman Sachs Group Inc. is buying 12 Hong Kong shopping centers from Link REIT for HK$12.01 billion ($1.54 billion), according to announcements on Wednesday from Gaw Capital and Link REIT.

  • December 12, 2018

    Allen & Overy, Linklaters Lead €770M Sale Of Universities

    Laureate Education Inc., a network of higher education institutes, has agreed to sell its institutions in Spain and Portugal to an affiliate of European private equity firm Permira for €770 million ($875 million), the companies said Wednesday, in a deal guided by Allen & Overy LLP and Linklaters LLP.

  • December 11, 2018

    Judge Passionately Defends Juries In Denying Instant Wins

    A Massachusetts federal judge unleashed a Seventh Amendment polemic Tuesday against five separate motions for summary judgment in a complicated suit over a grave injury to a farmworker, saying that to bar a jury from deciding whether to put a private equity firm on the hook for damages would evince "an unabashed retreat from the magnificent vision of the founders."

  • December 11, 2018

    Tencent Music's IPO Raises Nearly $1.1B Led By Davis Polk

    Chinese streaming streaming giant Tencent Music Entertainment Group on Tuesday priced an initial public offering that raised nearly $1.1 billion, completing one of the year’s largest IPOs with the guidance of Davis Polk & Wardwell LLP.

  • December 11, 2018

    Xura Breach Claims Advance In $643M Chancery Merger Suit

    An aggrieved investor of telecommunications technology company Xura Inc. cleared some early hurdles Tuesday in a Chancery Court suit challenging the company’s $643 million go-private sale to Siris Capital Group LLC, beating motions to dismiss claims that Xura’s former CEO had regular undisclosed contacts with the buyer.

  • December 11, 2018

    Deals Rumor Mill: Cisco Systems, Plaid, Nvidia Corp.

    Cisco Systems Inc. is discussing a deal to buy Luxtera, Plaid was valued at $2.65 billion in a Mary Meeker-led funding round, and SoftBank wants to shed its stake in California-based Nvidia Corp.

  • December 11, 2018

    Accountant Seeks No Prison Time For $18M Tax Return Fraud

    An accountant found guilty of helping a venture capitalist siphon $18 million from a fund through false tax returns has told a California federal court he should serve no time behind bars despite prosecutors' request for a "significant" prison sentence.

  • December 11, 2018

    Proskauer Steers JMI On $1.2B Software-Focused Fund

    JMI Equity on Tuesday said it has picked up $1.2 billion to pour into software businesses following the close of its latest private equity fund, with Proskauer Rose LLP steering the private equity firm on its fundraising.

  • December 11, 2018

    PE-Backed Blank Check Co. Files $375M IPO Guided By Weil

    Gores Metropoulos Inc., a blank check company formed by private equity firm The Gores Group, filed its $375 million initial public offering Tuesday that was guided by Weil Gotshal & Manges LLP and saw Ropes & Gray LLP advising the underwriters.

  • December 11, 2018

    CVC Lobs $2B Offer To Take Ahlsell Private Again

    CVC Capital Partners on Tuesday lobbed a 17.97 billion Swedish krona ($1.98 billion) offer to take Swedish construction products supplier Ahlsell AB private, just over two years after the private equity giant floated the Stockholm-based company to raise roughly 6 billion krona.

  • December 11, 2018

    Online Used Car Dealer Vroom Nabs $146M From Investors

    A group of private investors has agreed to inject $146 million into online used car retailer Vroom Inc., which intends to use the capital infusion to bolster its technology, make acquisitions and hire new talent, the companies said Tuesday.

  • December 10, 2018

    Neiman Marcus Accused Of Funneling $1B To LBO Sponsors

    Neiman Marcus Group Inc. was hit with a suit in Texas state court Monday alleging the company orchestrated a plot to loot its own luxury department store and online retailer of about $1 billion and transfer the cash to indirect owners Ares Management LP and the Canada Pension Plan Investment Board.

Expert Analysis

  • 10 Tips For Law Firms To Drive Revenue Via Sports Tickets

    Matthew Prinn

    Many law firms have tickets or luxury suites at sporting events to host clients and prospects. Matthew Prinn of RFP Advisory Group and Matt Ansis of TicketManager discuss some of the ways that firms can use those tickets effectively.

  • Inside Key ABA Guidance On Attorneys' Cybersecurity Duties

    Joshua Bevitz

    A recent opinion from the American Bar Association provides useful guidance on attorneys’ obligations to guard against cyberattacks, protect electronic client information and respond if an attack occurs, says Joshua Bevitz of Newmeyer & Dillion LLP.

  • Opening Comments: A Key Strategic Decision In Mediation

    Jann Johnson

    Opening comments by parties in mediation that are made with the proper content and tone can diffuse pent-up emotion and pave the way for a successful resolution. But an opening presentation can do more harm than good if delivered the wrong way, say Jann Johnson and William Haddad of ADR Systems LLC.

  • How To Help Realize A Tax Equity Market For Carbon Capture

    Hunter Johnston

    In February, Congress amended Internal Revenue Code Section 45Q, creating a tax equity market that supports investment in carbon capture and storage projects. Additional guidance, like that proposed by the Carbon Capture Coalition, is needed in a number of key subject areas to unlock this market, says Hunter Johnston of Steptoe & Johnson LLP.

  • Drafting Effective Joint Bidding Agreements For PE Funds

    Sawyer Duncan

    Club deals involving one or more private equity funds are becoming increasingly popular across the market. Failure to consider the numerous unique mechanics of such deals can dramatically inhibit investors’ ability to realize value, says Sawyer Duncan of King & Spalding LLP.

  • Series

    Judging A Book: Ginsburg Reviews 'The Curse Of Bigness'

    Judge Douglas Ginsburg

    When reading Tim Wu’s new book, "The Curse of Bigness: Antitrust in the New Gilded Age," lawyers, economists and historians will find its broad brush maddening, and the generalist reader will simply be misled, says D.C. Circuit Judge Douglas Ginsburg.

  • 5 Things You Should Know About New Rule 23 Amendments

    John Lavelle

    For the first time in 15 years, Federal Rule of Civil Procedure 23, governing class actions, has been amended. There are five key changes that will likely impact future federal class action litigation and settlements, say John Lavelle and Terese Schireson of Morgan Lewis & Bockius LLP.

  • Why Private Equity Has Eyes On Vision Care

    Holly Buckley

    With an aging population, significant cash-based premium business opportunities and a highly fragmented industry, the optical care space should continue buoying private equity enthusiasm well into 2019, say attorneys with McGuireWoods LLP.

  • Jurors Should Ask More Questions During Trials

    Matthew Wright

    Permitting jurors to submit written questions, or even to pose questions orally to witnesses on the stand, advances several important goals and promotes both fairness and efficiency, says Matthew Wright of McCarter & English LLP.

  • Calif. Ruling Dings Engagement Letter Arbitration Clauses

    Sharon Ben-Shahar Mayer

    The California Supreme Court's recent decision in Sheppard Mullin v. J-M Manufacturing has cast doubt on arbitration clauses in attorney engagement agreements, jeopardizing the efficient resolution of malpractice claims and fee disputes, say Sharon Ben-Shahar Mayer and Mark Drooks of Bird Marella Boxer Wolpert Nessim Drooks Lincenberg & Rhow PC.