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Private Equity

  • June 18, 2018

    3 Firms Guide $1.4B Sale Of Rent-A-Center To PE Firm

    Vintage Capital Management LLC will pay $1.365 billion to acquire Rent-A-Center, the companies said in a statement Monday, with Wilson Sonsini Goodrich & Rosati PC guiding the private equity firm and Winston & Strawn LLP and Sullivan & Cromwell LLP respectively guiding the rent-to-own retailer and its board.

  • June 18, 2018

    In Their Own Words: Minority Partners On Reaching The Top

    Despite decades of industrywide initiatives, movement up the ladder has stagnated for minority lawyers. Here, five industry success stories tell Law360 about the paths they took and what needs to change in BigLaw.

  • June 18, 2018

    LaSalle Board Of Directors Backs Blackstone's $4.8B Bid

    Maryland-based real estate investment trust LaSalle Hotel Properties said Monday its board of trustees has determined that Pebblebrook Hotel Trust's $4.17 billion offer to acquire the company does not amount to a "superior proposal" under the terms of its $4.8 billion merger agreement with private equity firm Blackstone Group LP that includes debt.

  • June 18, 2018

    Deals Rumor Mill: GameStop, Kraft Heinz, Forest City Realty

    Video game retailer GameStop could be sold to a private equity firm, Kraft Heinz is mulling a sale of a powdered milk energy drink brand in India called Complan and Forest City Realty is once again in talks to be taken over by Brookfield Asset Management.

  • June 18, 2018

    CITIC Eyes $3.65B Takeover Of US-Listed China Biologic

    An affiliate of Chinese investment firm Citic Capital offered to buy out U.S.-listed China Biologic in a deal that values the plasma-based biopharmaceutical player at $3.65 billion, after building up a stake in the company, according to a Monday filing with the U.S. Securities and Exchange Commission.

  • June 18, 2018

    Kirkland Guides Cressey’s $1.1B Health Care Fund Close

    Health care-focused private equity shop Cressey & Co. LP on Monday said it snapped up $1.1 billion from investors for its latest private equity fund and co-investment vehicle, with Kirkland & Ellis LLP guiding the firm.

  • June 15, 2018

    Minority Lawyers On Why They Left BigLaw

    Despite the proliferation of diversity committees and inclusion initiatives, corporate law firms remain overwhelmingly white and male, especially at leadership levels. Here, minority attorneys discuss their reasons for leaving a large firm.

  • June 15, 2018

    Taking On The ‘Petri Dish’ Of BigLaw Bias

    The often-informal processes for deciding matters like compensation at law firms can create, as one expert put it, a “petri dish” for the effects of unconscious bias. Here’s how some firms are looking to shake up the system.

  • June 15, 2018

    The Best Firms For Minority Attorneys

    While U.S. law firms have long vowed to make their ranks more diverse and inclusive, the industry has long failed to deliver on those promises. Here are the firms making some headway, according to this year’s Diversity Snapshot.

  • June 15, 2018

    Law360’s Diversity Snapshot: By The Numbers

    Efforts to increase diversity have again yielded few meaningful changes in law firm demographics, according to Law360’s annual headcount survey, even as law schools continue to enroll students of color in increasing numbers.

  • June 15, 2018

    Law360’s Pro Say: What BigLaw Should Do About Diversity

    For years law firms have had programs aimed at increasing attorney diversity, but nothing is working. On this week’s Pro Say podcast we take a look at our latest survey of diversity at law firms, and unpack what experts say are the things that could actually move the needle on this issue.

  • June 15, 2018

    Deals Rumor Mill: DWF, LyondellBasell, Qualcomm

    Manchester-based law firm DWF is gearing up for a potential £1 billion IPO, LyondellBasell Industries is in exclusive talks to buy a controlling stake in Brazil-based petrochemicals business Braskem, and reports of Chinese approval for Qualcomm's $44 billion proposed takeover of NXP Semiconductors were premature.

  • June 15, 2018

    Alarm.com Suit Against PE Investor Tossed

    A suit lodged against private equity investors by home security firm Alarm.com did not survive a motion to dismiss Friday when a Delaware Chancery Court judge said ABS Capital Partners Inc. had the right to make investments in competing companies through mutual agreements with Alarm.com.

  • June 15, 2018

    10 Firms To Steer Biotech-Heavy IPO Lineup Exceeding $1B

    Ten firms are slated to guide 10 initial public offerings projected to raise about $1.3 billion during the week of June 18, representing a lineup dominated by biotechnology issuers plus a real estate investment trust as IPO season hits a busy stretch before the July 4 holiday.

  • June 15, 2018

    Chancery Master Sought For $15B Student Loan Trust

    Players in a strife-torn, $15 billion securitized student loan enterprise on Friday recommended use of a Delaware Chancery Court special master to referee disputed instructions to the fund's owner trustee, pending selection of a replacement for current job-holder Wilmington Trust Corp.

  • June 15, 2018

    PE-Backed Avalara Leads 3 IPOs Raising $377M Total

    Private equity-backed tax automation company Avalara Inc. saw shares soar in first-day trading on Friday after raising $180 million in an initial public offering that priced better than expected, leading three issuers whose shares debuted following IPOs that raised $377 million combined.

  • June 15, 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 recent days helmed by firms such as Proskauer Rose, Hogan Lovells and Debevoise & Plimpton. Here, Law360 recaps the ones you might have missed.

  • June 15, 2018

    Taxation With Representation: Wachtell, Shearman, Simpson

    In this week’s Taxation with Representation, KKR bought Envision Healthcare for $9.9 billion, Gebr. Knauf KG bought rival USG Corp. for $7 billion, Blackstone bought Investa Office Fund for $2.3 billion and Royal Caribbean Cruises scooped up Silversea Cruises for $1 billion.

  • June 15, 2018

    Real Estate Rumors: Walgreens, KKR, Trammell Crow

    Walgreens Boots Alliance is reportedly close to taking more than 200,000 square feet of Chicago office space, a KKR joint venture is said to have dropped $250 million on a Miami office tower and developer Trammell Crow has reportedly picked up a Florida retail center for $30.1 million.

  • June 15, 2018

    Swire Properties Sells 2 Hong Kong Towers For $1.9B

    Hong Kong developer Swire Properties Ltd., which is majority-owned by private equity shop Swire Pacific, has reached a deal to sell a pair of Hong Kong office towers to Henglilong Investments Ltd. for HK$15 billion ($1.91 billion), according to an announcement from Hong Kong-based Swire on Friday.

Expert Analysis

  • Analyzing The Economics Of Litigation Funding

    J.B. Heaton

    The growth of litigation funding has only increased the controversy surrounding it. Looking to move beyond the rhetoric for and against the practice, attorney and investment analytics expert J.B. Heaton, of J.B. Heaton PC and Conjecture LLC, attempts an objective analysis of the underlying economics of the litigation funding arrangement.

  • How We Got Here: A Look Back At Trailblazing Women In Law

    Jill Norgren

    Today's female lawyers stand on the shoulders of several generations of pioneers. Here, historian Jill Norgren explains how the status of women in the legal profession has changed since the 1870s.

  • How Dodd-Frank Rollback Changes The Volcker Rule

    Jerry Comizio

    The recently signed Economic Growth, Regulatory Relief and Consumer Protection Act represents the first significant deregulatory piece of legislation amending the Dodd-Frank Act. The new law makes several changes to the Volcker Rule, but its impact is likely to be modest, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Trade Rep Hints At More CFIUS Scrutiny Of Biotech Deals

    Stephen Mahinka

    The Section 301 report issued in March by the United States Trade Representative highlighted foreign acquisitions and investments in the U.S. biotechnology industry. Counsel on both sides of a transaction in this sector should consider carefully whether involvement by foreign entities, especially from China, should be filed for review by CFIUS before closing, say Stephen Mahinka and Carl Valenstein of Morgan Lewis & Bockius LLP.

  • A Primer On Private Business Development Companies

    Cynthia Krus

    Financial sponsors and investors are seeking alternative investment products through which they can access the capital markets, and the private business development company is one such product that has recently been successful at raising capital. Here, Cynthia Krus and Kristin Hespos Burns of Eversheds Sutherland explain how private BDCs are formed and why they are desirable.

  • NY Unincorporated Biz Tax Proposal Overshoots Its Mark

    Leah Robinson

    The New York State Department of Taxation and Finance just released for comment a draft bill to enact a new unincorporated business tax. While that is a laudable goal, the proposal as currently drafted appears to generate substantially more revenue for the state than the benefit to individual partners would seem to justify, say attorneys at Mayer Brown LLP.

  • Trans-Atlantic M&A Set To Thrive Despite Uncertainty

    David Gibbons

    The U.K. remains a hotbed of high-quality, promising companies across a number of sectors. To the cash-rich U.S. investor taking a long-term view, the need to source returns may well overcome concerns around Brexit and Trump administration policies, say David Gibbons and Sarah Shaw of Hogan Lovells.

  • Electronic Roadshows: Why The Voice-Over Matters

    Steven Friend

    Recently, we have been involved in several registered Securities Act transactions in which the deal team considered posting slides to an electronic roadshow platform without a recorded voice-over from the issuer’s management. When confronted with this choice, members of the deal team are well-advised to think through the consequences, say attorneys with Hunton Andrews Kurth LLP.

  • Introducing The Legal Industry To Millennial Business Owners

    Yaima Seigley

    ​The current business climate has produced vast opportunities for seasoned lawyers to create valuable connections with millennial business owners, but first lawyers must cleanse their palate of misconceptions regarding millennials, says Yaima Seigley of Isaac Wiles Burkholder & Teetor LLC.

  • Opinion

    Why Won't Judicial Nominees Affirm Brown V. Board Of Ed?

    Franita Tolson

    On May 17, 1954, the U.S. Supreme Court decided Brown v. Board of Education, recognizing a moral and legal truth that should be beyond question in American society. The refusal by some of President Donald Trump's judicial nominees to say whether they believe the case was decided correctly is indicative of the narrow-minded elitism they would bring to the bench, says professor Franita Tolson of the University of Southern California's Gould School of Law.