Private Equity

  • June 27, 2019

    Change Healthcare Prices $557M IPO Below Range

    Change Healthcare Inc., a private-equity backed provider of analytics tools to the health care industry, saw shares rise Thursday after the Simpson Thacher & Bartlett-led company priced a $557 million initial public offering below range.

  • June 27, 2019

    Deals Rumor Mill: DraftKings, Nissan, Blackstone

    DraftKings is reportedly close to snapping up SBTech, Nissan Motor Co. is in talks about managing Didi Chuxing’s ride-hailing services, and Blackstone is about to close its debut infrastructure fund at upward of $12 billion.

  • June 27, 2019

    2 Firms Steer Bracco's $450M Diagnostic Imaging Biz Buy

    Italy's Bracco Imaging SpA, a manufacturer of agents and tracers used in diagnostic imaging, said Thursday it will pay $450 million to take over molecular imaging diagnostics business Blue Earth Diagnostics, with Greenberg Traurig and the Santa Maria Law Firm steering the buyer.

  • June 27, 2019

    Scentre Sells Sydney Towers To Blackstone In $1.1B Deal

    Australia-based mall owner Scentre said Thursday it has agreed to sell its office towers in Sydney’s central business district to funds managed by private equity giant Blackstone for AU$1.52 billion ($1.1 billion).

  • June 27, 2019

    Alvarez Gets $44M In Fees In Toys R Us Ch. 11 Case

    Turnaround consultancy Alvarez & Marsal North America LLC got the green light from a Virginia bankruptcy court on Wednesday to take home $44 million in fees and expenses for its work on the multibillion-dollar Toys R Us Inc. Chapter 11 case.

  • June 27, 2019

    Kirkland Reps Warburg Pincus On $4.25B China, Asia Fund

    Warburg Pincus on Thursday said a new China and Southeast Asia-focused fund snapped up $4.25 billion in commitments as the Kirkland & Ellis LLP-led private equity giant looks to build off a $14.8 billion global fund that closed late last year.

  • June 26, 2019

    K&L Gates, Gibson Dunn Steer $700M Littlejohn Deal

    Private investment firm Littlejohn said Wednesday it will take on the distribution segment of aerospace and industrial company Kaman Corporation for $700 million in a deal steered by Gibson Dunn and K&L Gates.

  • June 26, 2019

    Chancery Criticizes GE's Total Redaction Of Merger Suit Docs

    A Delaware Chancery Court judge ruled Tuesday that documents from a re-opened case over General Electric Co.'s merger with Baker Hughes Inc. must become public and slammed GE for handing over "entirely blacked out" versions of the documents.

  • June 26, 2019

    Lionbridge Slams $300M Trade Secrets Suit As 'Frivolous'

    Translation company Lionbridge Technologies fired back at accusations that it had feigned interest in purchasing rival TransPerfect Global at a court-ordered auction just to lift the company's trade secrets, slamming the lawsuit as "frivolous" in Manhattan federal court on Wednesday.

  • June 26, 2019

    Medical Device Co. Gets Access To $20M In Bankruptcy Loans

    Durable medical device maker Joerns Healthcare LLC received court approval Wednesday in Delaware to access a quarter of an $80 million debtor-in-possession financing package to help fund its trip through bankruptcy and give it a cash cushion once it exits Chapter 11.

  • June 26, 2019

    Deals Rumor Mill: Magellan, HDFC Bank, Everest Medicines

    Centerbridge Partners is close to snapping up managed care company Magellan Health, HDFC Bank has tapped Morgan Stanley and Bank of America to lead its nonbank finance business’ initial public offering and CBC Group is considering taking Everest Medicines public.

  • June 26, 2019

    First Zohar Portfolio Entity Ch. 11 Sale To Net Up To $77M

    A Delaware judge on Wednesday approved the sale of equity interest in one of the portfolio properties of Lynn Tilton's bankrupt investment vehicles, the Zohar funds, in a transaction expected to net between $72 million and $77 million for the funds' Chapter 11 bankruptcy estate.

  • June 26, 2019

    PE-Backed Cambium Pulls In $70M From Below-Range IPO

    Wireless broadband infrastructure business Cambium Networks Corp. made its market debut Wednesday with a $69.6 million initial public offering, pricing shares below its expected range.

  • June 26, 2019

    StockX Lands $110M Series C, Valuation Rises To Over $1B

    Detroit-based StockX, a stock market for sneakers, streetwear, watches and collectibles, said Wednesday it has laced up a $110 million funding round that brings the company’s valuation to more than $1 billion.

  • June 26, 2019

    2 Firms Steer TDR Capital's $2.4B Deal For Used Car Seller

    Aftermarket vehicle sales and service platform BCA Marketplace on Wednesday accepted a £1.9 billion ($2.4 billion) takeover offer from London-based private equity firm TDR Capital, striking a deal steered by Linklaters and Bryan Cave on the buy and sell side, respectively.

  • June 26, 2019

    Private Investors Inject $104M Into Encoded Therapeutics

    Encoded Therapeutics Inc., a San Francisco-based biotech focused on developing treatments for severe genetic disorders including liver and cardiovascular disease, said Wednesday that it has collected $104 million from a group of private investors.

  • June 26, 2019

    Paul Weiss Guides Clearlake's Latest $1.4B PE Fund

    Clearlake Capital Group LP, working with Paul Weiss, said Wednesday that it has clinched its latest fund after collecting $1.4 billion from limited partners, with plans to invest in middle market companies in sectors including software and technology-enabled services, industrials and energy, and consumer.

  • June 25, 2019

    Deals Rumor Mill: Magellan, Miniso, Woodford

    Magellan Midstream Partners is reportedly considering selling a stake in a Texas pipeline, Miniso is planning to go public, and Woodford Investment Management is about to tap bankers to help it sell its Atom Bank and Oxford Nanopore Technologies stakes.

  • June 25, 2019

    Arlington Capital Taps Kirkland For $1.7B PE Fund

    Washington, D.C.-based middle market private equity firm Arlington Capital Partners, working with Kirkland & Ellis LLP, said Tuesday it has closed its fifth fund after securing $1.7 billion from limited partners.  

  • June 25, 2019

    SEC's Peirce: Private Offerings Discriminate Geographically

    U.S. Securities and Exchange Commissioner Hester Peirce said Tuesday that existing income and wealth-based rules that specify who can participate in private securities offerings are "geographically discriminatory" because they favor America's coasts, and she encouraged the public to speak out on potential reforms.

  • June 25, 2019

    Orchids Paper Ch. 11 Auction Can Proceed, Del. Judge Says

    A Delaware bankruptcy judge on Tuesday rejected a call by unsecured creditors to bar or limit an offer by the private equity-backed lender serving as Orchids Paper Products Co.’s stalking horse to use prepetition debt to purchase the company's assets at auction Thursday.

  • June 25, 2019

    Hospital Bed Maker Joerns Files Ch. 11 To Cut $320M In Debt

    Joerns Healthcare filed for Chapter 11 in Delaware bankruptcy court on Tuesday, seeking to cut $320 million of its $400 million debt load with a debt-to-equity swap that forms the core of a prepackaged restructuring plan.

  • June 25, 2019

    Vesalius Biocapital Closes €120M Life Sciences-Focused Fund

    Venture capital firm Vesalius Biocapital III Partners said Tuesday it closed its latest fund with €120 million ($136.6 million) in commitments that will be used to continue the firm’s strategy of investing in later-stage Europe-based life sciences companies.

  • June 25, 2019

    Jury Orders Express Scripts To Pay $82M In Sale Fraud Suit

    Express Scripts Inc. will have to pay a Parthenon Capital Partners subsidiary $82.1 million after a Delaware jury found that Express had fraudulently inflated the price of a company specializing in biopharmaceutical clinical trial technology that Parthenon had acquired.

  • June 25, 2019

    Financial Data Biz MX Locks Down $100M Fundraise

    Financial data and analytics platform MX said Tuesday a recent funding round led by Battery Ventures brought in $100 million, giving the Dorsey & Whitney-guided company the ability to add to an already growing customer base and develop and invest in new technologies.

Expert Analysis

  • Setting The Record Straight On Women In Court Reporting

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    Today, 89 percent of court reporters are women, but I remember sitting behind my steno machine in the '80s and being asked by a judge if I, as a woman, would have the emotional fortitude to work a murder case, says Karen Santucci, chairwoman of the Plaza College court reporting program.

  • 10 Years After Koehler, NY Still Good For Judgment Creditors

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    A New York appeals court's decision in Kassover v. Prism has reinforced the state's reputation — established in Koehler v. Bank of Bermuda — as an attractive forum for judgment creditors seeking to execute on debtors' assets held in foreign jurisdictions, says Robert Malatak of Windels Marx Lane & Mittendorf LLP.

  • Opinion

    Limiting Supreme Court's Size Is Not Enough

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    The proposal by Sen. Marco Rubio, R-Fla., for a constitutionally mandated nine-justice U.S. Supreme Court does not address any of the well-known problems with the current system — problems that could be solved through a nonpartisan package of reforms, says Gordon Renneisen of Cornerstone Law Group.

  • Lenders Score Major High Court Victory In Foreclosure Case

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    The U.S. Supreme Court's unanimous ruling on Wednesday in Obduskey v. McCarthy & Holthus LLP removes nearly all activities taken by creditors seeking nonjudicial foreclosure of liens and mortgages from the ambit of the Fair Debt Collection Practices Act, says John Baxter of Nelson Mullins Riley & Scarborough LLP.

  • Tech Trends From SXSW Pose Unique Questions For Lawyers

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    These days, a popular theme in media is that lawyers' jobs will be taken by robots. However, based on the tech issues discussed at the South by Southwest technology conference in Austin, Texas, last month, robots may in fact need lawyers, says Nick Abrahams of Norton Rose Fulbright.

  • In Bar Admissions Process, It's Candor Or Bust

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    You passed the bar exam and are ready for the character and fitness committee interview. Time to think about how to discuss that minor incident in college, that misdemeanor in high school or that mental health issue that you have totally under control, says Richard Maltz of Frankfurt Kurnit Klein & Selz PC.

  • 4 Key Issues In Rent-A-Center Case And A $127M Question

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    The Delaware Chancery Court's decision last week in Vintage v. Rent-A-Center is a stark reminder that courts will enforce the terms of a merger agreement as written. The issue to watch is whether Rent-A-Center will be entitled to the reverse termination fee, say attorneys at Cleary Gottlieb Steen & Hamilton LLP.

  • Series

    Judging A Book: Bashant Reviews 'Doing Justice'

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    My initial reaction to "Doing Justice" was that author Preet Bharara may have bitten off more than he could chew — an accusation leveled against him when he served as U.S. attorney for the Southern District of New York — but I found the book full of helpful gems, says U.S. District Judge Cynthia Bashant of the Southern District of California.

  • Firms Can Leverage Communications When Economy Is Slow

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    Though most experts believe that an imminent recession is unlikely, slowdown fears are increasing. Now is the time for firms to consider how to best leverage their communications and marketing teams to lessen impacts from a potential economic slowdown, says Tom Orewyler of Tom Orewyler Communications LLC.

  • Ethical Social Media Marketing For Lawyers

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    Social media presents rich opportunities to reach prospective clients. Attorneys should not let those opportunities pass them by, but they should keep their ethical obligations in mind as they post, says Cort Sylvester of Nilan Johnson Lewis PA.

  • Q&A

    A Chat With Norton Rose Diversity Director Nina Godiwalla

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    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Nina Godiwalla, director of diversity and inclusion at Norton Rose Fulbright.

  • 5 Mistakes Law Firms Make When Responding To RFPs

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    More and more corporations are now using requests for proposals to make data-driven decisions about which law firms to work with, so it is more important than ever for law firms to avoid common RFP mistakes, says Matthew Prinn of RFP Advisory Group.

  • How SEC Could Expand 'Test The Waters' Communications

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    A rule proposed last month by the U.S. Securities and Exchange Commission would expand the scope of "test the waters" communications rules, allowing more companies to communicate with institutional investors before an initial public offering. Attorneys at Proskauer Rose LLP discuss key takeaways for issuers, underwriters and other market participants.

  • New Rules Would Support Sustainability In EU Capital Markets

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    Environmental, social and governance preferences are becoming an increasingly important aspect of the financial industry. New rules proposed by the European Securities and Market Authority would press asset managers in particular to develop investment and advisory processes integrating ESG factors, say attorneys at Jones Day.

  • What To Expect From Increased FTC-State AG Collaboration

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    At a recent meeting of the National Association of Attorneys General, Federal Trade Commission Chairman Joseph Simons advocated for increased collaboration with state attorneys general, potentially raising the stakes for targeted companies and highlighting the importance of a strong compliance program, say attorneys with Buckley LLP.

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