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Private Equity

  • May 8, 2018

    Korean Investment Firm Pays $130.5M For GSK's Philly HQ

    The investment management arm of financial services company Korea Investment Holdings Co. Ltd. on Tuesday said it will pay $130.5 million to take over the current home of GlaxoSmithKline PLC's U.S. corporate headquarters in Philadelphia.

  • May 7, 2018

    Patriarch Calls $10M TransCare Clawback Suit 'Nonsensical'

    Private equity fund Patriarch Partners asked a New York bankruptcy court on Friday to dismiss claims in a $10 million clawback suit over the private equity firm’s alleged role in bankrupting ambulance company TransCare Corp., calling the suit “nonsensical.”

  • May 7, 2018

    Venture-Backed Tech Co. Pluralsight Launches $228M IPO

    Technology skills developer Pluralsight Inc. on Monday launched an estimated $227.7 million initial public offering, making it the latest so-called unicorn to go public in an IPO market that has become more receptive to venture-backed startups.

  • May 7, 2018

    Skadden Steers Del Frisco’s $325M Cash Deal For Barteca

    Skadden Arps Slate Meagher & Flom LLP on Monday said it had guided Del Frisco’s Restaurant Group’s $325 million cash deal to buy private equity-backed Barteca Restaurant Group, the owner of Spanish restaurant and street food chains that is guided by Kirkland & Ellis LLP.

  • May 7, 2018

    Deals Rumor Mill: Comcast, AIG, NASCAR

    Comcast alerted the European Union's antitrust watchdog of its bid to buy Sky PLC, Carl Icahn sold his stake in insurance giant AIG, and NASCAR's majority owners are sussing out alternatives for the racing giant.

  • May 7, 2018

    Weinstein Co. Says Creditors Trying To 'Sabotage' $310M Sale

    The Weinstein Co. and its unsecured creditors stepped up their feud Monday over an unofficial after-the-deadline bid for the bankrupt business, an offer that TWC said appeared to be a "coordinated effort to sabotage" a $310 million cash deal with Lantern Entertainment LLC.

  • May 7, 2018

    Fate Of Defendant In $7M Fraud Case In Mass. Jury's Hands

    A Massachusetts federal jury will begin mulling the fate of a man who prosecutors say swindled a dozen people out of nearly $7 million by masquerading as a thriving businessman and soliciting investments to fund his own lavish lifestyle, while his attorney said his client always acted in good faith.

  • May 7, 2018

    DLA Piper, Allens Linklaters Steer $1.4B Plumbing Biz Sale

    New York-based private equity firm Advent International said Monday it has agreed to sell a U.S. distributor of plumbing products, waterworks materials, and heating and cooling equipment to Australian rival Reece Ltd. for $1.4 billion, in a deal guided by DLA Piper and Allens Linklaters.

  • May 7, 2018

    Simpson Thacher Guides Blackstone's $7.6B Gramercy Buy

    Simpson Thacher & Bartlett LLP represented The Blackstone Group LP in connection with its $7.6 billion deal announced Monday to buy Wachtell Lipton Rosen & Katz-counseled Gramercy Property Trust.

  • May 7, 2018

    Wachtell Lipton Guides Snack Co.'s $500M Cookie Maker Grab

    Illinois-based snack company Mondelēz International Inc. has reached an agreement with private equity firm The Riverside Co. to acquire Long Island, New York-based Tate’s Bake Shop for approximately $500 million, in a deal that was guided by Wachtell Lipton Rosen & Katz.

  • May 4, 2018

    Law360 Reveals Titans Of The Plaintiffs Bar

    They’ve gone up against big-name companies while advocating for plaintiffs ranging from grieving family members to shareholders and consumers in some of the biggest and most well-known cases of the past year.

  • May 4, 2018

    Insurer Asks 4th Circ. To Nix $87M Heparin Coverage Ruling

    Travelers Property Casualty Co. and American Capital Ltd. are squaring off in the Fourth Circuit after a lower court ruled the insurer must pay $87 million to defend against tainted blood thinner lawsuits, with Travelers arguing the whole episode was never covered and American Capital seeking bad faith damages.

  • May 4, 2018

    Robot Maker's $820M Series C Fund Largest Ever For AI Co.

    Intelligent humanoid robot maker Ubtech Robotics Corp. has closed its series C funding round with $820 million in commitments that will be used to expand its research and market reach, the company said on Friday.

  • May 4, 2018

    Starwood To Sell $1.1B UK Hotel Portfolio To Parisian Firm

    Starwood Capital Group said Thursday it has agreed to sell an £830 million ($1.1 billion) portfolio of 14 hotels in the United Kingdom to a hotel real estate subsidiary of Parisian holding company Foncière des Régions.

  • May 4, 2018

    Deals Rumor Mill: Flipkart, Nestle, Blackstone

    Flipkart directors have approved a $15 billion offer from Walmart, Nestle is nearing a deal to buy some of the store products unit of Starbucks, and Blackstone's bid to buy a majority stake in Thomson Reuters' financial and risk business may close later than planned.

  • May 4, 2018

    Taxation With Representation: Wachtell, MoFo, Sullivan

    In this week’s Taxation With Representation, T-Mobile and Sprint unveiled plans for a $59 billion merger, Hellman & Friedman bought Financial Engines for $3.02 billion and Marathon snapped up Andeavor for $23.3 billion.

  • May 4, 2018

    Cybersecurity Firm Carbon Black Tops 8 IPOs Totaling $733M

    Shares of venture-backed startup Carbon Black Inc. rallied Friday after the cybersecurity software firm raised $152 million in an initial public offering that priced at the top of its upwardly revised range, capping a week that saw eight IPOs raise a total of $733 million.

  • May 4, 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 Cooley LLP and Cozen O’Connor. Here, Law360 recaps the ones you may have missed.

  • May 4, 2018

    K&L Gates Snags M&A Attys From Nixon Peabody, Clark Hill

    K&L Gates on Tuesday announced that it has hired two partners from Nixon Peabody LLP and Clark Hill PLC to work in its Los Angeles and Chicago offices, in a continued effort to bolster its mergers and acquisitions and corporate practice.

  • May 4, 2018

    Perkins Coie Nabs Tech, VC Partner From DLA Piper

    Perkins Coie LLP said it has hired a former DLA Piper partner who has represented startups and technology clients in the health care, e-commerce, biotech and renewable energy industries to head Perkins Coie's emerging companies and venture capital practice in Arizona.

Expert Analysis

  • Series

    Judging A Book: Hardiman Reviews 'Without Precedent'

    Judge Thomas Hardiman

    In his new book, "Without Precedent: Chief Justice John Marshall and His Times," professor Joel Richard Paul ably explains more than a dozen of Marshall’s most significant opinions, which comes as no surprise​. ​What is a surprise — a pleasant one — is the book's readability, says Judge Thomas Hardiman of the Third Circuit.

  • Lessons In Negotiating Transaction Tax Deduction Provisions

    Scott Barshay

    The Delaware Chancery Court's opinion in LSVC v. Vestcom serves as a reminder of the potential high-value impact of pre- and post-closing tax provisions in private M&A, as well as their interaction with purchase price adjustment provisions, say attorneys with Paul Weiss Rifkind Wharton & Garrison LLP.

  • Keys To Corporate Social Responsibility Compliance: Part 1

    Michael Littenberg

    2018 may be the year that corporate social responsibility compliance becomes a core duty of in-house legal departments. Not only have legal requirements proliferated in recent years, but new disclosure requirements and more regulation are on the horizon, say attorneys with Ropes & Gray LLP.

  • Top Tax Changes For Law Firms: What Lawyers Need To Know

    Evan Morgan

    For law firms structured as corporations, a lower maximum corporate tax rate and repeal of the corporate alternative minimum tax are good news. But many law firms are pass-through entities, so deduction limitations mean they'll see less benefit from the new tax law, says Evan Morgan of CPA and advisory firm Kaufman Rossin PA.

  • Warranty And Indemnity Insurance Can Help M&A Buyers

    William Charnley

    In recent years, warranty and indemnity insurance has become a prevalent method of helping mergers and acquisitions counterparties close transactions by transferring warranty and liability away from the buyer and seller and onto the insurance market, say William Charnley and Ilan Kotkis of King & Spalding LLP.

  • Tax Reform Is Hurting Foreign Investors In The US

    Michele Alexander

    The Tax Cuts and Jobs Act has codified a previous revenue ruling in a fairly controversial area of partnership tax law, in a potential disappointment to non-U.S. investors in domestic partnerships and practitioners who questioned the authority for issuing the ruling in the first place, say Michele Alexander and Ryan Davis of Bracewell LLP.

  • Opinion

    Companies Should Avoid The BigLaw Bonus Structure

    Michael Moradzadeh

    Since passage of the Trump tax plan last year, companies have been touting bonuses they’ve handed down to rank-and-file employees. This highlights the trend of employers favoring bonuses over pay raises in the belief that variable, short-term rewards are less risky to the business than permanent increases in labor costs. But law firms have used this strategy for years — and there are dangers, says Michael Moradzadeh of Rimon PC.

  • Risk Of 'Below Deal Price' Appraisal Post-Dell: Part 2

    Gail Weinstein

    It remains uncertain whether the Delaware Chancery Court — when relying on the deal price to determine fair value, as prescribed in Dell — will now make a downward adjustment to exclude value arising from the merger itself, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Risk Of 'Below Deal Price' Appraisal Post-Dell: Part 1

    Gail Weinstein

    Despite the Delaware Supreme Court’s opinion in Dell that the deal price is generally the best “proxy” for appraised fair value, the Delaware courts have issued three appraisal decisions in 2018 that determined fair value to be below the deal price. This risk is likely to continue absent further clarification from the Supreme Court or legislative change, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Chief Innovation Officer — The New Star On Legal Teams

    Mark Williamson

    Over the past few years, forward-thinking law firms have expanded their talent pools to include a chief innovation officer, whose responsibilities include spearheading the implementation of technology. It is a smart move, says ​​​​​​​Mark Williamson, co-founder and chief technology officer at Hanzo Archives Ltd.