The Riverside Co. on Tuesday said its latest private equity fund snapped up $1.2 billion in commitments as it looks to continue a steady track record of investments in North America’s lower middle market.
Outset Medical, a commercial-stage medical company focusing on the dialysis market, on Tuesday said it has raised $132 million during its latest funding round, which it intends to use for expansion of its brands in the acute and chronic care markets in the United States.
Affiliates of Apollo Global Management LLC investment funds will pay $2.6 billion to take Aspen Insurance Holdings Ltd. private, the companies said in a statement Tuesday, with Sidley Austin LLP guiding the investment manager and Willkie Farr & Gallagher LLP steering the insurer.
In just two weeks, Goodwin Procter’s Gemma Roberts navigated the challenges of a massive international merger, leading a team representing U.S.-based GTT Communications in its $2.3 billion purchase of privately held European-based Interoute Communications, earning her a spot among the five private equity attorneys under the age of 40 honored by Law360 as Rising Stars.
The Delaware Chancery Court on Monday trimmed claims brought against Spanish Broadcasting System Inc. by 11 funds that had invested in the company and are seeking redemption of $161 million in preferred stock and a bar on company debt additions, finding that the investors wanted relief already sought under breach of contract claims.
Bankrupt furniture maker Heritage Home Group LLC received court approval Monday in Delaware for its $98 million debtor-in-possession lending package, but only after its lenders agreed to increase the fee budget of the unsecured creditors committee by 50 percent.
Harbour BioMed has completed a Series B-1 funding round that added $85 million to continue the company's development of therapeutic gene-targeting technologies for cancer and expand its global footprint, bringing its total financing to just under $150 million, the company said Monday.
Real estate investment firm Brennan Investment Group LLC said on Monday that it has acquired a three-building portfolio totaling 500,081 square feet in Green Bay, Wisconsin, and Northeastern Pennsylvania via a $300 million net leased joint venture with Arch Street Capital Advisors.
Maryland-based LaSalle Hotel Properties said Monday that a sweetened buyout offer from Pebblebrook Hotel Trust could top its current $4.8 billion deal, including debt, with Blackstone Group LP, stoking a bidding war over the hotel-focused real estate investment trust.
France's Total is not eyeing a deal in the U.S. shale oil industry, Brazil's Arco Platform is mulling a U.S. IPO and investment firm Farallon Capital is joining in the interest in a Brazilian toll road operator.
Sidley Austin LLP partner Sara Garcia Duran represented a consortium of Apollo Global Management and Athene Holding Ltd. in the complex, multibillion-dollar acquisition of Voya Insurance and Annuity Co., helping earn her a spot as one of five private equity attorneys under 40 selected for Law360’s Rising Stars.
Australia’s Investa Office Fund revealed Monday that the Blackstone Group agreed to sweeten its takeover offer for the real estate investment trust to AU$3.26 billion (US$2.39 billion), after the private equity firm indicated last week it was willing to increase its bid.
Two investors opened federal lawsuits in Delaware Thursday challenging the proposed $200 million merger of Jamba Juice stores parent Jamba Inc. with Focus Brands International, alleging Securities Act violations based on alleged inadequacies in the deal disclosures.
Papa John’s has hired banks to help with the aftermath of a lawsuit brought by its founder, Swiss engineering conglomerate ABB is considering a sale of its multibillion-dollar power grid business, and top shareholders of Brazil’s Oi hope to improve the company so they won’t have to sell their stakes.
With so much mergers and acquisitions news this week, you may have missed several deals announced in recent days helmed by firms such as BakerHostetler and Kirkland & Ellis LLP. Here, Law360 recaps the ones you might have missed.
China Biologic Products Holdings Inc. on Friday rejected a $3.9 billion offer from a consortium that includes its former chief executive and several investment firms, while the biopharmaceutical company also said an affiliate of Chinese investment firm Citic Capital pulled back its own $3.65 billion proposal.
In this week’s Taxation With Representation, Tyson bought Keystone Foods for $2.16 billion, Hartford Financial Services bought The Navigators Group for $2.1 billion and an arm of the Ontario Municipal Employees Retirement System took a 50 percent stake in BridgeTex Pipeline Co. for $1.4 billion.
Ropes & Gray LLP partner Garrett Charon has helped close competitive auctions for billion-dollar transactions during his two years at the firm, including two $1 billion-plus acquisitions for Swiss-based asset management firm Partners Group, earning him a spot as one of five private equity law practitioners under age 40 honored by Law360 as Rising Stars.
European regulators are set to approve CK Hutchison's deal to buy Veon's stake in Italian mobile network Wind Tre, Platinum Equity is eyeing a deal to either sell or list Vertiv, and PDC Brands is getting ready to list in the United States.
In White & Case LLP's continued effort to beef up its Windy City presence, it has added a partner to the firm's global mergers & acquisitions practice and private equity industry group in Chicago, the firm announced.
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.
I found that senior members of Congress didn’t have time to mentor younger members. Lawyers — though just as busy as members of Congress — cannot afford to follow this model, says former Rep. Charles Gonzalez, D-Texas, of Ogletree Deakins Nash Smoak & Stewart PC.
While Delaware law relating to corporate fiduciary duties and exculpation for personal liability has been transformed over the past several years, resulting in less potential for director liability, the limited liability company format offers even more flexibility for directors when the governing agreement is properly drafted and followed, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
Recent cases suggest that Delaware courts extend a high degree of deference to limited liability company and partnership agreement provisions. But importantly, the facts and circumstances can also very much affect a court’s decision, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
Legal industry compensation practices are once again in the news as BigLaw firms continue to match the new high watermark of $190,000 for first-year associate salaries. The typical model of increasing associate salaries uniformly fails star associates, the firms they work for and, ultimately, the clients they serve, says William Brewer, managing partner of Brewer Attorneys & Counselors.
Currently making its way through state assembly committees, California Assembly Bill 2731 would impose an additional 17 percent tax on interest income derived from investment management services. If passed, all asset and fund managers, including those located outside California, could face a significant tax increase, say Kelly Allen and Timothy Gustafson of Pillsbury Winthrop Shaw Pittman LLP.
While some may say it’s ironic, it’s also embarrassing and enraging that the very industry that offers anti-harassment training, policies and counsel now finds itself the subject of #MeToo headlines. The American Bar Association recommendation that will bring about the greatest change is the call to provide alternative methods for reporting violations, says Beth Schroeder, chair of Raines Feldman LLP's labor and employment group.
The U.S. Department of Treasury Office of Foreign Assets Control continues its effort to allow U.S. persons to wind down operations or existing contracts that would otherwise violate Ukraine- and Russia-related sanctions. Even though OFAC has issued general licenses for this purpose, U.S. persons may need to obtain specific licenses to fully divest their interests, say attorneys with Schulte Roth & Zabel LLP.
In a profession notoriously averse to change, it should come as no surprise that there is skepticism about the value of having attorneys perform nonbillable tasks. But U.S. law firms have slowly begun to incorporate knowledge lawyers into their operations — and the trend is likely to continue, says Vanessa Pinto Villa of Hogan Lovells.