Private Equity

  • December 6, 2017

    PE-Backed Car Insurer Sabre Prices £287.5M London IPO

    Sabre Insurance Group PLC priced an initial public offering that raised £287.5 million ($384.6 million) Wednesday on the London Stock Exchange, enabling private equity firm BC Partners to trim its holding in Sabre some three years after it bought a controlling stake in the U.K. car insurer.

  • December 5, 2017

    Performance Food's $188M Offering Sees PE Firm Exit

    Food distribution giant Performance Food Group Inc. unveiled an estimated $188 million secondary stock offering Tuesday that enables private equity firm Wellspring Capital Management LLC to sell its remaining stake in Performance Food two years after its initial public offering.

  • December 5, 2017

    Crane Co. Snags Currency Maker From PE Firm For $800M

    Industrial manufacturer Crane Co. on Tuesday said it inked an $800 million deal with private equity firm Lindsay Goldberg and members of the Crane family to buy all of the equity interests in Massachusetts-based global currency producer Crane & Co. Inc.

  • December 5, 2017

    Mayer Brown Advises Nestle's $2.3B Deal For Nutrition Co.

    Nestle has acquired Canada-based nutritional health products maker Atrium Innovations Inc. from a group of investors for $2.3 billion, with Mayer Brown LLP advising the buyer, the company announced Tuesday.

  • December 5, 2017

    Deals Rumor Mill: Unilever, Banorte, Trimco International

    The battle to buy Unilever's margarine and spreads business is nearing a conclusion, two Mexican lenders have agreed to merge in a deal worth $1.42 billion, and Chinese garment-label manufacturer Trimco could be worth about $500 million in a sale.

  • December 5, 2017

    Investor Sues HIG, Bain Capital Over $760M Facility Deal

    A Surgery Partners Inc. shareholder on Monday told the Delaware Chancery Court that Bain Capital Private Equity was allowed to work both sides of a deal and get favorable terms to finance the $760 million acquisition of a surgery facility owner this year.

  • December 5, 2017

    Growth Lending Co. Closes $275M Equity Offering

    Growth lending company Runway Growth Credit Fund Inc. announced Tuesday that it has closed its $275 million initial equity capital offering with help from an increased commitment from funds managed by Oaktree Capital Management LP.

  • December 4, 2017

    Deals Rumor Mill: Techem, Alloheim, 21st Century Fox

    Canadian pension funds and private equity firms will be making a formal bid for German metering business Techem, Nordic Capital is set to shell out roughly €1.1 billion to acquire a German nursing home operator, and 21st Century Fox Inc. is favoring The Walt Disney Co. over other suitors for the sale of certain assets.

  • December 4, 2017

    NYSE Seeks To Lower Required No. Of Investors For SPACs

    The U.S. Securities and Exchange Commission has requested public comment on a New York Stock Exchange proposal to ease rules on special-purpose acquisition companies, which include halving the minimum number of investors and adding a capital requirement to exempt SPACs from penny-stock rules.

  • December 4, 2017

    Court To Consider Expert In $6.5B Solera Appraisal Fight

    Delaware’s chancellor said Monday he was considering the use of an expert in deciding part of a $2 billion stockholder dispute over the appraisal of Solera Holdings Inc. after its $6.5 billion sale to Vista Equity Partners LP in 2015, citing a bruising reversal in an earlier case.

  • December 4, 2017

    LPL Asks Calif. Judge To Nix Stock-Drop Suit For Good

    The largest U.S. independent broker-dealer urged a California federal judge on Friday to toss a proposed class action accusing it of covering up "severely disappointing" financial results while a major private equity backer cashed out to the tune of $187 million, saying the investors behind the suit haven't fixed the problems that got their last complaint thrown out.

  • December 4, 2017

    Real Estate Broker Leads 2 IPO Launches Totaling $749M

    Two companies eager to seal deals before the year-end holiday break launched initial public offerings on Monday, led by commercial real estate broker Newmark Group Inc.’s estimated $615 million IPO, followed by private equity-backed cable equipment maker Casa Systems Inc.’s approximate $134 million offering.

  • December 4, 2017

    TPG Sweetens Deal For Medical Device Co. Exactech To $737M

    Florida-based Exactech Inc. on Monday said that private equity giant TPG Capital raised its offer price for the orthopedic implant device maker in a deal now valued at $737 million, just weeks after the companies agreed to a tie-up valued at $625 million.

  • December 3, 2017

    Tax Bill’s Swift Passage May Create Legal Quandaries

    The accelerated course of the Republicans’ $1.4 trillion tax cut bill, heralding some of the most sweeping changes for corporations in decades, has created ambiguities that could take years to iron out while the process to reconcile differences between the House and Senate versions of the bill will leave nothing sacrosanct, including the cardinal 20 percent corporate tax rate.

  • December 2, 2017

    Senate Passes $1.4 Trillion Tax Cut Legislation

    The U.S. Senate passed an expansive tax cut bill early Saturday that is projected to add more than $1 trillion to the deficit, after garnering enough support from faltering and fiscally conservative Republicans.

  • December 1, 2017

    VC Group Gets Win In Foreign Entrepreneur Rule Row

    A D.C. federal judge on Friday granted a venture capital group's bid to vacate a Trump administration rule that delayed an Obama-era regulation for international entrepreneurs, finding it unlawful because the government failed to give time for public notice or comment.

  • December 1, 2017

    Biotech Cos. Among 5 IPOs That Could Surpass $580M

    Five firms are slated to lead five issuers set to raise nearly $581 million in initial public offerings during the week of Dec. 4, anchored by three venture-backed life science companies joined by a bank that specializes in real estate lending and a payday lender.

  • December 1, 2017

    UK Litigation Roundup: Here's What You Missed In London

    The last week has seen more than a dozen Indian banks sue the co-owner of the Force India Formula 1 team as he faces possible extradition from the U.K., the Nigerian government takes on JPMorgan, and Ace lodges a dispute against Aviva Life.

  • December 1, 2017

    Insurance Tech Co.'s Value Depleted By Controller, Suit Says

    Minority shareholders of insurance technology company Bolt Solutions Inc. filed suit Friday in Delaware alleging the firm’s majority shareholder and board of directors engaged in self-dealing to sell the controlling interest in Bolt and eroded any value due to minority investors through repeated capital injections.

  • December 1, 2017

    Blackstone Unit Aims For $344.5M-Plus Stock Offering

    Blackstone Group LP’s real estate finance subsidiary will make a secondary public offering of at least $344.5 million in class A common stock in order to fund the purchase of additional commercial mortgage loans, the company announced Friday.

Expert Analysis

  • A Potential New Hurdle For Foreign Investments

    Kenneth Nunnenkamp

    With the United States Foreign Investment Review Act recently introduced in the Senate, foreign investors, U.S. sellers and other concerned parties may soon be required to consider both the national security implications and the U.S. domestic economic impact of their proposed transactions, say attorneys with Morgan Lewis & Bockius LLP.

  • Financial Institutions Must Invest In FATCA Compliance

    Ashly Elmore Drew

    The deadline for foreign financial institutions to sign up with the U.S. Internal Revenue Service's Foreign Account Tax Compliance Act registration system came and went last month. While deregulatory and tax reform efforts in Washington could eventually change FATCA enforcement, for the time being, failure to be in compliance can have serious implications, say attorneys with Burr & Forman LLP.

  • Roundup

    Judging A Book

    Constance Baker Motley

    Are the latest books on the judicial system worth reading? Federal judges share their thoughts in this series of book reviews.

  • Don't Waste This Planning Cycle: Year-End Strategies

    Hugh A. Simons

    Law firms are businesses where partners operate with significant autonomy. To see their priorities translate into individual partner action, firm leaders should use a few collaborative strategies, suggests Hugh A. Simons, former senior partner of The Boston Consulting Group and former COO of Ropes & Gray LLP.

  • From Snaps To Tweets: The Craft Of Social Media Discovery

    Matthew Hamilton

    Courts have consistently held that social media accounts are subject to established discovery principles but are reluctant to allow parties to rummage through private social media accounts. Recent case law confirms that narrowly tailored information requests get the best results, say Matthew Hamilton, Donna Fisher and Jessica Bae of Pepper Hamilton LLP.

  • An Interview With Former DHS Secretary Jeh Johnson

    Randy Maniloff

    Jeh Johnson, the former secretary of homeland security, was kind enough to let me visit him to reflect on his diverse career. He told stories that left me speechless. And yes, the man who was responsible for the Transportation Security Administration removed his shoes when going through airport security. You bet I asked, says Randy Maniloff of White and Williams LLP.

  • Hurdles To Consider When Securing A Personnel File

    Michael Errera

    Attorneys should follow seven key points to ensure that their discovery requests and pleadings are appropriately prepared to overcome common hurdles that may be encountered when requesting production of a personnel file, say Michael Errera and Paul Ferland of Foran Glennon Palandech Ponzi & Rudloff PC.

  • A Primer On 'Locked-Box' Deals

    John Pollack

    It is important to appreciate that the “locked-box” approach to M&A purchase price adjustments is becoming more and more accepted in the U.S., and that, all things being equal, there is nothing inherently wrong with it, say John Pollack and Pavel Shaitanoff of Gibson Dunn & Crutcher LLP.

  • Series

    Judging A Book: Gilstrap Reviews 'Alexander Hamilton'

    Judge Rodney Gilstrap

    While Alexander Hamilton is the subject of a hit Broadway musical and renewed biographical examinations, professor Kate Brown takes us down a road less traveled in her book "Alexander Hamilton and the Development of American Law" — showing Hamilton as first, last and foremost an American lawyer, says U.S. District Judge Rodney Gilstrap of the Eastern District of Texas.

  • The Case For Creating A Mediation Department At Your Firm

    Dennis Klein

    There are at least four reasons supporting the need for some form of a mediation group within a law firm, especially in firms with larger practices, according to Dennis Klein, owner of Critical Matter Mediation and former litigation partner at Hughes Hubbard & Reed LLP.