Private Equity

  • May 21, 2018

    Hogan Lovells Advises Adobe On $1.68B Magento Acquisition

    Hogan Lovells said Monday it has guided digital data and content company Adobe Systems Inc. in a deal to acquire e-commerce platform Magento Commerce from global private equity firm Permira in an all-cash $1.68 billion transaction.

  • May 21, 2018

    Zohar Deal Stays Litigation, Appoints Independent Director

    A settlement reached among key players Monday in the Delaware Chapter 11 cases of the Zohar Funds will pause active litigation between the parties for 15 months and will see founder Lynn Tilton largely step aside from running the funds in favor of an independent director.

  • May 21, 2018

    Jevic Ch. 11 To Convert To Ch. 7 After Denial Of Settlement

    The long-running bankruptcy case of trucking firm Jevic Holding Corp. will convert to a Chapter 7 liquidation after a Delaware judge denied approval Monday of the latest proposed settlement floated by the company and its creditors to dismiss the case.

  • May 21, 2018

    Nordic Capital Closes Latest Fund With €4.3B Committed

    Private equity firm Nordic Capital on Monday said it has closed its latest fund with €4.3 billion ($5.1 billion) in commitments from a mix of new and returning investors.

  • May 21, 2018

    Deals Rumor Mill: Ansaldo STS, Meezan Bank, Kuwait Energy

    Hitachi Automotive hopes to buy Elliott Management’s stake in Italian rail-signaling business Ansaldo STS, U.S. and European institutional investors are in talks to buy small stakes in Pakistan’s Meezan Bank, and Kuwait Energy is mulling the sale of an oil and gas field in southern Iraq.

  • May 21, 2018

    Icahn Cries Foul On AmTrust's $2.7B Go-Private Deal

    Activist shareholder Carl Icahn hit AmTrust Financial Services Inc. with a suit in Delaware Chancery Court on Monday claiming its proposed $2.7 billion go-private deal undervalues the insurance giant while financially benefiting the family at its helm, saying the record backing the merger price has been manipulated.

  • May 21, 2018

    Ropes & Gray Leads Partners Group In GlobalLogic Buy-In

    Switzerland-based Partners Group, led by Ropes & Gray LLP, will snap up Apax Partners' stake in GlobalLogic in a deal that values the digital product engineering services provider at more than $2 billion, with plans to help the company grow its services in Europe.

  • May 21, 2018

    Roper Technologies Pays $1.1B For PE-Backed PowerPlan

    Roper Technologies Inc. has agreed to buy private equity-backed PowerPlan Inc., which provides accounting, tax and capital budgeting services to industries including oil and gas, telecom, and transportation, in an all-cash deal worth $1.1 billion, the companies said Monday.

  • May 21, 2018

    Winston & Strawn Boosts PE Team With 2 Ex-Katten Partners

    Winston & Strawn LLP has hired two partners in California with strong private equity and mergers and acquisitions experience from Katten Muchin Rosenman LLP, including one who headed up that firm's Los Angeles corporate practice and previously presided over a private investment company, the firm announced.

  • May 21, 2018

    Simpson Thacher Guides Blackstone's $4.8B Deal For LaSalle

    Simpson Thacher & Bartlett LLP on Monday said it guided Blackstone's $4.8 billion deal for real estate investment trust LaSalle Hotel Properties, the fourth multibillion-dollar real estate deal the New York City-based firm has steered for the private equity giant since the start of the year.

  • May 21, 2018

    PE-Backed Bank Software Biz Ipreo Sold In Nearly $1.9B Deal

    London-headquartered data and analytics firm IHS Markit Ltd. has agreed to buy private equity-backed banking software provider Ipreo Holdings LLC for $1.86 billion, in a deal guided by Davis Polk & Wardwell LLP and Weil Gotshal & Manges LLP, according to a Monday statement.

  • May 18, 2018

    2 Men Settle SEC's Life Time Fitness Insider Trading Claims

    The U.S. Securities and Exchange Commission asked an Illinois federal judge Thursday to sign off on settlements it reached with two men facing parallel criminal charges over alleged insider trading that occurred ahead of Life Time Fitness Inc.’s $2.8 billion private equity buyout in 2015.

  • May 18, 2018

    Don't Miss It: Hot Deals & Firms We're Following This Week

    With so much mergers and acquisitions news this week, you may have missed several deals announced in the last several days helmed by firms such as Simpson Thacher & Bartlett LLP and Ropes & Gray LLP. Here, Law360 recaps the ones you may have missed.

  • May 18, 2018

    Deals Rumor Mill: Qualcomm, BMC Software, KazAtomProm

    China is growing on Qualcomm’s $44 billion proposed takeover of NXP Semiconductors, BMC Software Inc. tapped Goldman Sachs and Credit Suisse to aid a sale, and Kazakhstan wants to sell one-quarter of its state-owned uranium importer and exporter.

  • May 18, 2018

    Taxation With Representation: Gibson, Freshfields, Wachtell

    In this week’s Taxation with Representation, gas pipeline operator Williams swallowed up its master limited partnership Williams Partners for $10.5 billion, Enbridge acquired several of its sponsored vehicles for $8.9 billion, EQT merged its hearing aid business with Widex A/S for $8.3 billion and Zoetis snapped up Abaxis for $2 billion.

  • May 18, 2018

    Energy Savings Co. Investors Allege $5M Push-Out Scheme

    The co-founder and an early investor of Energy Efficient Equity Inc., a company that provides financing for energy and water savings home improvements, have filed a suit against a venture capital fund and its officers alleging the company used a $5 million loan to push them out, according to a complaint made public Friday in Delaware state court.

  • May 18, 2018

    PE Firms Lean On Lawyers As They Weigh C Corp. Conversion

    As major private equity firms consider converting from a partnership to a corporation to take advantage of new U.S. tax laws, here are some factors attorneys must be prepared to discuss with their PE clients about when a conversion might make sense and what risk comes with a change in corporate tax status.

  • May 18, 2018

    Mass. Pension Plans Part Of $2.1B Tax Fraud, Denmark Says

    The agency tasked with collecting taxes in Denmark filed three suits in Massachusetts federal court on Friday claiming Bay State-based pension plans were part of a massive multinational fraud scheme to dupe the Danish government out of $2.1 billion in reimbursed taxes.

  • May 18, 2018

    Triton, KKR Sell Finnish Private Health Care Biz To CVC

    Funds advised by private equity giant KKR & Co. LP and investment firm Triton Investment Management Ltd. agreed to sell Finnish private health care and social services company Mehiläinen to CVC Capital Partners and a group of minority shareholders in Mehiläinen, the firms said Friday.

  • May 18, 2018

    6D Global Settlement In Stock-Manipulation Suit Axed

    A New York federal judge rejected a proposed shareholder derivative settlement with 6D Global Technologies Inc. on Thursday, dubbing the planned corporate reforms lackluster in their attempt to end claims that the digital marketing company was complicit in allowing its share price to be manipulated by a private equity firm's CEO.

Expert Analysis

  • Defining 'Knowledge' In A Purchase Agreement

    Kyle Gann

    A knowledge qualification is applied to representations and warranties of an M&A agreement in order to limit their scope. But understanding the precise nature of the risk allocation in a knowledge-qualified representation also requires understanding what it means for a party to have “knowledge,” say attorneys with Winston & Strawn LLP.

  • 8 Reasons To Take A Fresh Look At Your Law Office Lease

    Tiffany Winne

    After moving into a new law office, tenants often file their signed leases away, figuring that the terms are set for a few years at least. However, leases can be very flexible instruments, and should be reviewed annually even if nothing seems amiss, says Tiffany Winne of Savills Studley Inc.

  • A General Counsel's Tips For Succeeding As A New Associate

    Jason Idilbi

    Based on his experience as a BigLaw associate for six years and now as general counsel for a tech startup, Jason Idilbi of Passport Labs offers some best practices for newer associates — whether they are serving external clients or senior attorneys within their firms.

  • Smarter, Faster, Stronger: A New Suite Of VC Model Docs

    Samuel Waxman

    For the first time in four years, the National Venture Capital Association recently updated its model legal documents. The latest drafts not only reflect the necessity for quick transactions and bespoke solutions to unique problems facing venture capital investors, but they anticipate needs that will arise in this ever-evolving industry, say attorneys with Paul Hastings LLP.

  • Series

    Judging A Book: Berzon Reviews 'We The Corporations'

    Judge Marsha Berzon

    My advice to prospective clerks will now include the suggestion that they read Adam Winkler's new book, "We the Corporations: How American Businesses Won Their Civil Rights," for the same reason I recommend taking a corporations course — appreciating the critical role of business corporations in American life and law, says Ninth Circuit Judge Marsha Berzon.

  • The Impact Of Tax Reform On Film, TV And Print Media: Part 3

    Michele Alexander

    In this third installment of their series on how the tax overhaul impacts U.S. media companies, Bracewell LLP attorneys Michele Alexander and Ryan Davis look at how the international and domestic provisions intended to bring tax dollars home have affected media companies' decisions regarding foreign versus domestic production.

  • Diabetic Care RX Case Is A Warning Sign For Private Equity

    Christopher Hewitt

    The United States government recently sent shock waves through the private equity industry by charging a PE firm for its portfolio company’s alleged health care fraud in U.S. v. Diabetic Care RX. Four measures can help private equity firms mitigate their risk so they avoid the same fate, say Christopher Hewitt and Jayne Juvan of Tucker Ellis LLP.

  • What ABA’s Position On Harassment Means For Employers

    Minjae Song

    In the #MeToo era, the American Bar Association’s recently passed Resolution 302 is a reminder of harassment policy best practices to all employers, and it should be of particular interest to employers in the legal industry, say attorneys with Hunton Andrews Kurth LLP.

  • A Closer Look At SEC Guidance On Investment Adviser Fees

    Sonia Gioseffi

    A risk alert recently issued by the U.S. Securities and Exchange Commission identifies the top fee and expense deficiencies from over 1,500 examinations over the last two years, providing valuable information for investment advisers. This guidance should serve as more than a warning, say attorneys with K&L Gates LLP.

  • Practical Considerations For Litigating Proportionality

    Elizabeth McGinn

    By incorporating an explicit requirement that discovery must be “proportional to the needs of the case,” the 2015 amendments to the Federal Rules of Civil Procedure garnered much speculation as to their impact on courts’ decision-making processes. Now that the rules have been implemented for over two years, several themes have emerged, say attorneys with Buckley Sandler LLP.