United Arab Emirates-based shipping and trade business DP World said Tuesday that it will buy a Danish logistics company from European investment firm Nordic Capital in a deal worth €660 million ($763 million).
A liquidating trustee for bankrupt natural gas storage venture Ryckman Creek LLC lost a bid Monday for quick rejection of $2.4 million in purchase deductions sought by the company’s Chapter 11 buyer, just ahead of a fight over a disputed $11 million equity payment.
An attorney for bankrupt shoemaker Aerogroup International Inc. told a Delaware judge Monday that a post-petition lender had agreed to drop its efforts to foreclose on estate property to allow potential litigation against a company that had backed out of a deal to buy Aerogroup’s assets earlier this year.
Red Stone Equity Partners LLC has closed a $144 million Low Income Housing Tax Credit fund, proceeds from which will be used to finance construction or renovation of affordable housing properties across the United States, according to an announcement on Monday from Red Stone Equity.
Matchmaking service It's Just Lunch International Inc. lost its bid to decertify two consumer classes alleging it defrauded daters, but, to make the classes more cohesive, a New York federal judge on Monday narrowed the scope of the national class and set the end of the class period at May 2014.
Blackstone is reportedly leasing out roughly 25,000 square feet in Chicago to e-commerce software firm Shoprunner, Mautner-Glick is said to have sold six New York buildings to a developer for $232 million and Bank OZK has reportedly loaned $28.48 million for a Florida Hilton project.
Mattress Firm is reportedly considering bankruptcy, SoftBank is mulling a $90 billion value for the domestic wireless unit it plans on listing, and T-Mobile’s $59 billion proposed merger with Sprint is in the early stages of antitrust review.
The owner of Real Mex Restaurants filed for Chapter 11 protection in Delaware on Sunday citing increased wage and commodity costs and extensive competition as it aims to sell the chain’s remaining restaurants to private equity firm Z Capital Group for $47 million.
Energy-focused private equity firm First Reserve Corp. inked a cash-and-stock deal to sell the Deep Gulf Energy companies to Dallas-based Kosmos Energy Ltd. for $1.23 billion, the companies announced separately Monday.
German gas giant Linde AG announced that the Federal Trade Commission wants the company to sell off additional assets to clear a planned $70 billion merger with Praxair Inc., less than a month after it said it would divest $3.3 billion in North and South American business interests to earn regulators' blessing.
Private equity firm Oaktree Capital Management challenged Claire's Inc.'s exclusive control of its $2.1 billion Chapter 11 Friday, arguing that the jewelry retailer has backed out of an assurance that it will seriously entertain a wider range of bids for the company.
Midstream company Targa Resources Corp., private equity-backed WhiteWater Midstream and an indirect unit of Florida-based NextEra Energy Resources on Friday said they have agreed to jointly develop a Texas natural gas pipeline.
Amcor is reportedly in talks to buy Wisconsin-based rival Bemis Co., Kraft Heinz has trimmed the list of bidders currently vying for an Indian business portfolio, and Ant Financial and Chinese ride-sharing company Didi are negotiating a deal to jointly buy out bike-sharing company Ofo.
Tech-focused private investment firm TCV is leading a $550 million capital injection into Peloton, which sells technology-enabled exercise bikes and runs remote spin classes, in an agreement guided by Weil Gotshal & Manges LLP and Fenwick & West LLP, according to a Friday statement.
In this week’s Taxation With Representation, BHP Billiton LLP sells off oil and gas assets to BP and Merit Energy Co. for $10.8 billion, Fortive snaps up Genstar Capital portfolio company Accruent for $2 billion, and Brookfield Asset Management buys Enercare Inc. for $3.3 billion.
With so much mergers and acquisitions news this week, you may have missed several deals announced in recent days helmed by firms such as Latham & Watkins and Vinson & Elkins. Here, Law360 recaps the ones you might have missed.
Perry Ellis International confirmed Friday that it received a sweetened, nearly $459 million offer from Randa Accessories Leather Goods, roughly a month after the men’s accessories company launched its original offer rivaling a deal by former Perry Ellis CEO George Feldenkreis to take the company he helped found private.
A joint venture including developer Michael Shvo and subsidiaries of Deutsche Finance Group and Turkish real estate investor Bilgili Group said Friday that it will take over more than 100,000 square feet of office space at 685 Fifth Ave. in New York from GGP Inc.
A minority investor in oil and gas explorer WildHorse Resource Development Corporation said in a Delaware Chancery Court complaint Thursday that the company gave a $160 million windfall To The Carlyle Group LP in the form of preferred stock shares in connection with a $625 million acquisition of acreage in the Eagle Ford shale formation.
Stockholders of health care payment validation giant Cotiviti Holdings Inc. launched a proposed Securities Exchange Act class action against the company and its directors late Wednesday in Delaware federal court targeting alleged disclosure failures in connection with a planned $4.9 billion merger.
As clients increasingly look to limit their own liability exposure, they can reasonably expect that their retained counsel should do the same. In this context, a carefully crafted, thoughtfully presented engagement letter can help a law firm strike a successful balance between protecting itself and preserving a client relationship, say Stuart Pattison and John Muller of Sompo International Holdings Ltd.
In this analysis of disciplinary action trends in the legal industry, Edwards Neils LLC managing member Jean Edwards examines data provided by bar organizations for 17 states and the District of Columbia.
A health care operator in financial distress may consider a number of nonbankruptcy options to streamline its operations, dispose of underperforming assets and improve its position. However, an operator with significant assets in a master lease may find that the lease imposes a variety of restrictions, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
With law firms increasingly exposed to professional liability risks associated with their corporate client relationships, firms must craft well-structured client engagement letters to help protect against malpractice claims. Two key elements of an engagement letter are how it defines the scope of engagement and how it handles conflicts of interest, say Stuart Pattison and John Muller of Sompo International Holdings Ltd.
Today, members of Congress often seem able to blame colleagues of the other party for not getting anything done for their constituents. In law practice, you can’t really blame a bad result for your clients on the lawyers on the other side, says former Sen. Joe Lieberman, D-Conn., of Kasowitz Benson Torres LLP.
Corporate law departments are increasingly demanding more concessions from outside legal counsel, and presenting engagement letters that open the door to greater professional and cyber liability exposure for law firms — often beyond the scope of their insurance coverage. Firms must add their own language to engagement letters to limit liability, say Stuart Pattison and John Muller of Sompo International Holdings Ltd.
An American company that has taken enough investment from non-U.S. sources may have become a “foreign person” itself for purposes of the Committee on Foreign Investment in the United States, say attorneys with Pillsbury Winthrop Shaw Pittman LLP.
Being a former member of Congress put me in an advantageous position when I approached law firms in the late '70s, at a time when there were few female lawyers, and even fewer African-American lawyers, in major law firms, says former Rep. Yvonne B. Burke, D-Calif., a director of Amtrak.
Popular culture paints the Hill as a place teeming with intrigue, corruption and malicious intent. But in Congress I learned important lessons about respecting people and the work they do, says former Sen. Norm Coleman, R-Minn., of Hogan Lovells.
The new Economic Growth, Regulatory Relief and Consumer Protection Act reforms widely unpopular rules relating to high volatility commercial real estate loans, making it easier to reclassify loans as non-HVCRE acquisition, development and construction loans, say Martin Taylor and Jon Nomura of Troutman Sanders LLP.