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Private Equity

  • November 19, 2018

    4 Cos. Eye December IPOs With New Filings Totaling $350M

    Four companies spanning a wide range of industries — from biotechnology and transportation companies to a plant-based meat startup and cryptocurrency bank — filed initial public offerings on Friday that are preliminarily estimated to total $350 million and could price before the year’s end.

  • November 19, 2018

    Vinson & Elkins Leads NRP's $205M Sale Of Materials Biz

    Vinson & Elkins LLP guided Natural Resource Partners LP in its $205 million sale of NRP’s construction materials business, VantaCore Partners LLC, to an affiliate of private equity firm Sun Capital Partners Inc., the law firm said Monday.

  • November 19, 2018

    Real Estate Rumors: Blackstone, Habitat, TF Cornerstone

    A Blackstone Mortgage Trust entity has reportedly loaned $211.9 million for a Florida retail and residential project, a $200 million Habitat Co. Chicago mixed-use project is said to have received the green light, and TF Cornerstone has reportedly dropped $300 million on a development site near the location of the new New York City Amazon headquarters.

  • November 19, 2018

    15 Minutes With Adams Street Partners' General Counsel

    Timothy Bryant had no plans to set off on a new career path after working his way up to become a partner at McDermott Will & Emery LLP, but after being recruited by a client he landed the role of general counsel for Adams Street Partners, showing that fresh opportunities can exist for any hardworking lawyer who has proven their worth.

  • November 19, 2018

    XO Investor Cries Foul Over $933M WeddingWire Deal Info

    A shareholder for XO Group Inc. launched a proposed class action against the multimedia content publisher and its board of directors in Delaware federal court Friday, claiming a filing with the U.S. Securities and Exchange Commission related to its $933 million acquisition by private equity-backed WeddingWire Inc. left out important financial analyses and projections.

  • November 19, 2018

    Kirkland, Simpson Steer $3.15B Colfax-DJO Global Deal

    Industrial technology company Colfax Corp. has agreed to buy private equity-backed medical device maker DJO Global Inc. for $3.15 billion in cash, in a deal guided by Kirkland & Ellis LLP and Simpson Thacher & Bartlett LLP, the companies announced Monday.

  • November 19, 2018

    Latham & Watkins Steers QEP's $735M Gas Asset Sale

    QEP Resources Inc., led by Latham & Watkins LLP, said Monday it will sell a handful of natural gas- and oil-producing properties and other assets to private investment firm Aethon Energy for $735 million, the energy company’s latest divestiture as it looks to reposition itself.

  • November 19, 2018

    Allen Matkins Nabs Ex-CliftonLarsonAllen Tax Atty In LA

    Allen Matkins Leck Gamble Mallory & Natsis LLP has announced a former CliftonLarsonAllen attorney experienced in tax planning and structuring has joined the firm’s Los Angeles office as a partner.

  • November 16, 2018

    Fintech Co. Misled IPO Investors, Stock-Drop Suit Says

    Financial technology startup GreenSky Inc. deceived investors by filing a misleading registration statement with the U.S. Securities and Exchange Commission in its initial public offering, shareholders argued in a proposed class action filed in New York state court that said stock prices tumbled after revised guidance was released months later.

  • November 16, 2018

    More Info Needed In $134M Westinghouse Ch. 11 Row

    A New York bankruptcy judge said Friday that Brookfield Business Partners LP and the legal professionals winding down Westinghouse Electric Co.'s Chapter 11 estate need to provide more information before he can rule on a disputed $134 million transferred to Brookfield when it bought the distressed contractor.

  • November 16, 2018

    Accountant Denied Retrial Over $18M Biotech VC Fraud

    A California federal judge declined Thursday to order a retrial for an accountant found guilty of helping a venture capitalist siphon $18 million from a fund using false tax returns.

  • November 16, 2018

    Don't Miss It: Sullivan, Sidley Lead Week's Hot Deals

    With so much mergers and acquisitions news this week, you may have missed deals announced in the last several days helmed by firms such as Sullivan & Cromwell LLP and Sidley Austin LLP. Here, Law360 recaps the ones you may have missed.

  • November 16, 2018

    Deals Rumor Mill: Tesaro, Eli Lilly, Technicolor

    Tesaro is reportedly considering a sale, Eli Lilly and Co. is mulling selling off a Chinese off-patent drug portfolio, and Technicolor SA is weighing options including selling off part or all of the business.

  • November 16, 2018

    Portfolio Advisors Closes $1.2B Private Equity Fund

    Portfolio Advisors LLC said on Friday that it has closed its ninth global private equity fund-of-funds with approximately $1.2 billion in limited partner commitments.

  • November 16, 2018

    Taxation With Representation: Jones Day, Simpson, Gibson

    In this week’s Taxation With Representation, SAP SE inks an $8 billion cash deal for Qualtrics International Inc., Veritas Capital and Elliott Management affiliate Evergreen Coast Capital takes Athenahealth private for $5.7 billion, and Johnson Controls sells its power solutions business to Brookfield Business Partners for $13.2 billion.

  • November 16, 2018

    Texas Holding Co. Commits $100M To Hair Brand, Buys Stake

    California-based luxury hair extension brand Bellami Hair LLC said on Friday that Texas-based holding company Cathexis Holdings LLP has acquired a minority stake in the company for $20 million and also committed $100 million to facilitate growth.

  • November 16, 2018

    MoFo, Jones Day Steer BlackBerry’s $1.4B Cylance Buy

    BlackBerry Ltd. on Friday said it will take over private equity-backed cybersecurity and artificial intelligence firm Cylance in a $1.4 billion deal, with Morrison & Foerster LLP steering the buyer and Jones Day guiding the Irvine, California-based seller.

  • November 16, 2018

    Sidley Snags Former Milbank Tweed Corporate Practice Pro

    Sidley Austin LLP said it has hired a former Milbank Tweed Hadley & McCloy LLP corporate attorney with more than 30 years of experience advising companies, private equity sponsors and executives to bolster its corporate group in Los Angeles.

  • November 15, 2018

    PE Firm's Head Gets New Trial In $60M Tribal Bond Scam Case

    A former private equity firm director convicted of conspiring to defraud pensioners and a Native American tribe of more than $60 million through the issuance of tribal bonds was granted a new trial Thursday after a New York federal judge expressed doubts about his awareness of the fraud scheme.

  • November 15, 2018

    Sears Gets Court Approval For Store Auction Rules

    A New York bankruptcy judge Thursday approved Sears’ proposed procedures for auctioning off the majority of its stores, but put off a decision on the retail chain’s plan to sell $900 million in intercompany debt until next week.

Expert Analysis

  • Examining The Role Of Market Price In Appraisal: Part 1

    Dirk Hackbarth

    Delaware Vice Chancellor J. Travis Laster recently cautioned that while courts are now giving greater deference to deal prices and market evidence in determining fair value, this approach does not elevate "market value" to the governing standard under the appraisal statute. His caveat begs at least three finance questions, say Dirk Hackbarth of Boston University and Bin Zhou of The Brattle Group.

  • 10 Questions For Upcoming Opportunity Zone Guidance

    Marc Schultz

    Last year's tax overhaul created an incentive program to encourage the investment of private capital in certain "opportunity zones" throughout the United States. The IRS is expected to issue guidance for interpreting many of the opportunity zone provisions in short order. However, the success of this program could depend upon the IRS' answers to these 10 questions, says Marc Schultz of Snell & Wilmer LLP.

  • Q&A

    Back To School: Widener's Rod Smolla Talks Free Speech

    Rodney Smolla

    In this new series featuring law school luminaries, Widener University Delaware Law School dean Rodney Smolla discusses teaching philosophies, his interest in First Amendment law, and arguing before the U.S. Supreme Court in Virginia v. Black.

  • How Delaware Courts Are Approaching Appraisal Valuation

    Michael O'Bryan

    The Delaware Supreme Court has eschewed bright-line tests for determining the value of a company in an appraisal. Two recent Delaware Chancery Court decisions illustrate the ways that the courts are determining appraisal valuation in light of this guidance, say Michael O'Bryan and James Beha of Morrison & Foerster LLP.

  • New Pass-Through Deduction Will Pass Over Many Lawyers

    Evan Morgan

    A few weeks ago, the IRS proposed regulations related to the Tax Cuts and Jobs Act's 20 percent deduction on qualified business income for pass-through entities. The guidance offers long-awaited clarity, but is mostly bad news for many law firms, says Evan Morgan of Kaufman Rossin PA.

  • The REIT Take-Private Process: Trends And Considerations

    Spencer Johnson

    Current market conditions have set the stage for a wave of real estate investment trust public-to-private transactions. While there is no one-size-fits-all process, attorneys with King & Spalding LLP look at some common ways these deals are being initiated and negotiated today.

  • How Reckless Judicial Impeachments Threaten Rule Of Law

    Jan van Zyl Smit

    Judicial impeachment fever seems to be spreading through the states, with West Virginia legislators recently voting to remove their state's entire Supreme Court, and lawmakers in Pennsylvania and North Carolina threatening the same. These actions are a serious threat to judicial independence, says Jan van Zyl Smit of the Bingham Centre for the Rule of Law.

  • Series

    Judging A Book: Fogel Reviews 'Good Judgment'

    Judge Jeremy Fogel

    In this time of partisan conflict over judicial selection, a new book by Canadian jurist Robert J. Sharpe —​ "Good Judgment" — represents a refreshing, deeply thoughtful departure from binary arguments about how and why judges make decisions, says U.S. District Judge Jeremy Fogel, director of the Federal Judicial Center.

  • A Look At SEC Enforcement Against Unregistered Finders

    Joe Edmondson

    In recent years, there has been an increased interest from the U.S. Securities and Exchange Commission in enforcing Section 15(a)(1) against unregistered finders and other solicitors in private placement offerings. These violations are easy to prove, especially since no culpable state of mind is required, says Joe Edmondson of Foley & Lardner LLP.

  • 10 Ways To Prevent E-Discovery Woes

    Debbie Reynolds

    E-discovery is not easy, but employing these 10 strategies may help minimize future headaches, say Debbie Reynolds and Daryl Gardner of EimerStahl Discovery Solutions LLC.