Private Equity

  • September 22, 2017

    5 Firms To Guide IPOs Totaling $1.25B As Deals Gain Steam

    Five firms are set to steer a busy slate of six initial public offerings that could raise $1.25 billion during the week of Sept. 25, led by private-equity backed chemical producer PQ Group Holdings Inc. and digital streaming pioneer Roku Inc.

  • September 22, 2017

    UK Litigation Roundup: Here's What You Missed In London

    The last week has seen Deutsche Bank sue a British law firm, a new insolvency filing by a Lehman creditor against the defunct bank's trustees and a dispute between an insurance-backed guarantee underwriter and a Lloyd's broker. Here, Law360 looks at those and other new claims in the U.K.

  • September 22, 2017

    Taxation With Representation: Cravath, Hogan, Skadden

    In this week’s Taxation With Representation, government contractor Northrop Grumman agrees to pay $7.8 billion for Orbital ATK, Teva sells off the remainder of its women’s health assets for $1.4 billion, and an affiliate of private equity firm H.I.G. Capital buys Vantage Specialty Chemicals for approximately $1 billion.

  • September 22, 2017

    Axis Gets Win In Patriarch Coverage Over Tilton Probe Case

    A New York federal judge Friday denied Lynn Tilton’s Patriarch Partners LLP insurance coverage for a $20 million U.S. Securities and Exchange Commission probe, saying it was already under investigation when it took out $5 million in excess coverage from Axis Insurance Co.

  • September 22, 2017

    5 Takeaways From CFIUS' Latest Annual Report

    The Committee on Foreign Investment in the United States is investigating a larger portion of inbound transactions, highlighting heightened concerns surrounding foreign investors’ motives for inking deals, new data shows. Here, Law360 recaps five major takeaways from the agency’s latest report.

  • September 22, 2017

    Don't Miss It: Hot Deals & Firms We Followed This Week

    With so much mergers and acquisitions news this week, you may have missed several deals announced in recent days helmed by firms such as Cleary Gottlieb Steen & Hamilton LLP and Gibson Dunn & Crutcher LLP. Here, Law360 recaps the ones you might have missed.

  • September 22, 2017

    Deals Rumor Mill: T-Mobile, GE, Pladis

    T-Mobile and Sprint are close to a tentative agreement on a merger, GE is looking to divest its industrial solutions unit, and Godiva chocolate maker Pladis is a potential suitor for Nestle's U.S. confectionery business.

  • September 22, 2017

    Phillips 66 Sells Energy Assets To MLP In $2.4B Deal

    Houston-based energy company Phillips 66 will sell its interest in a trio of assets, including joint ventures that make up the Bakken Pipeline project, to its master limited partnership in a deal valued at $2.4 billion, the MLP announced on Friday.

  • September 21, 2017

    Lone Star Says $100M Earnout Suit Belongs In Arbitration

    Attorneys for funds affiliated with Lone Star Funds told a Delaware state court judge Thursday that a suit from Hanson Brick America Inc. should be dismissed because the parties agreed in their $1.4 billion merger transaction to pursue arbitration over issues related to a $100 million earnout provision.

  • September 21, 2017

    Ex-CEO Dodges Paying Full Fees Billed By Paul Weiss, Cooley

    The Second Circuit on Thursday ordered the $6.2 million restitution that Duane Reade Inc.’s former CEO must pay in connection with his 2010 fraud conviction to be pared down, saying he doesn’t have to pay for legal fees billed by Duane Reade counsel Paul Weiss Rifkind Wharton & Garrison LLP and Cooley LLP for monitoring the criminal trial.

  • September 21, 2017

    HIG Capital Pays $1B To Take Back Specialty Chemicals Co.

    An affiliate of private equity firm H.I.G. Capital said Thursday it will buy Vantage Specialty Chemicals Holdings Inc. for approximately $1 billion from an affiliate of private equity shop The Jordan Co., nearly six years after H.I.G. initially sold the business to Jordan.

  • September 21, 2017

    Sheppard Mullin Adds New Corporate Partner To SF Office

    Sheppard Mullin Richter & Hampton LLP added a partner from Manatt Phelps & Phillips LLP with expertise in financial services to its corporate practice group in San Francisco this week.

  • September 21, 2017

    Hyperloop One Closes $85M Series B-1 Funding Round

    Hyperloop One on Thursday said it completed a Series B-1 funding round that saw the high-speed transportation start-up reap an additional $85 million, bringing its total financing to $245 million.

  • September 21, 2017

    Western Digital Lobs New Arbitration Request Against Toshiba

    The battle between Western Digital and Toshiba over their joint venture interests continued Wednesday as Western Digital filed another request for arbitration, this time over the Japanese conglomerate’s $1.8 billion investment in the business, the same day Toshiba inked its $18 billion memory unit sale to Boston-based Bain Capital.

  • September 21, 2017

    Huge Funds Mask Difficulties For PE Fund Managers In Asia

    The combined capital collected by Asia-focused private equity fund managers thus far this year is deceptively high thanks to a couple of massive investment vehicles, and deft legal advisers will be needed as deal makers in the region face a difficult market filled with fierce competition and skyrocketing valuations.

  • September 21, 2017

    Deals Rumor Mill: Carlyle, Asahi Group, KKR

    Carlyle is in the latter stages of raising a $5 billion Asia-focused fund, Japanese brewer Asahi Group is looking to spend billions on acquisitions, and KKR is offering to pay £600 million for a U.K. health and fitness club operator.

  • September 21, 2017

    Germany-Based Schenck Valued At More Than €700M In Sale

    IK Investment Partners has agreed to sell Schenck Process, which provides measuring and process technology and serves industries including food, chemicals, mining and construction, in a deal valuing the business at more than €700 million ($836.7 million), a source familiar with the matter confirmed to Law360 on Thursday.

  • September 20, 2017

    Toys R Us Bankruptcy Prospects Depend On Big Holiday Sales

    While the future for Toys R Us Inc. looks uncertain now, the company’s performance over the crucial holiday season will go a long way toward determining its long-term prospects, with experts pointing to the timing of and rationale for the company's bankruptcy filings this week.

  • September 20, 2017

    Real Estate Rumors: Wells, Museum Center Corp., Blatteis

    Wells Fargo is reportedly in talks to lend $470 million to a venture of private equity shop Rockpoint for a Bronx affordable housing purchase; Boca Raton, Florida, nonprofit Museum Center Corp. is said to have sold a property for $12 million; and California investor Blatteis & Schnur has reportedly sold a Chicago retail property for $13.6 million.

  • September 20, 2017

    Trivest Closes Latest Family-Owned Fund At $600M

    Trivest Partners closed its latest fund after taking in $600 million worth of capital commitments that will be used toward founder and family-owned investments throughout the U.S. and Canada, the private equity firm announced Tuesday.

Expert Analysis

  • The Role Legal Finance Can Play In Firm Year-End Collections

    Travis Lenkner

    Payment collection delays have caused law firms to seek new options, one of which is litigation finance. In this context, litigation finance can offer alternative avenues to firms as they approach the end of a fiscal year or partnership distribution dates, says Travis Lenkner of Burford Capital LLC.

  • 'Per-Doc' Pricing Can Improve Document Review

    file folder

    Imagine going to a restaurant and ordering your steak medium-rare. The steak arrives burned. You expect the kitchen to bring you another one properly done, right? And you don’t expect to pay for two steaks, do you? Paying a vendor for document review should be no different, says Lisa Prowse, an attorney and vice president at e-discovery firm BIA Inc.

  • CFIUS Continues To Present Obstacle To Chinese Acquisitions

    Brendan Hanifin

    Although presidential intervention to block a planned acquisition is relatively rare, President Donald Trump’s executive order last week blocking Canyon from acquiring Lattice was not especially surprising in light of recent precedent, the cautious approach of the Committee on Foreign Investment in the United States, and public statements by the Trump administration regarding China, say attorneys with Ropes & Gray LLP.

  • A Guide To The Executive Branch Official Nomination Process

    Adam Raviv

    Although the Trump administration has completed the vetting and confirmation of a cabinet and White House staff, thousands of senior positions remain unfilled throughout the executive branch. More than ever, people selected for those posts find themselves under close scrutiny, say Adam Raviv and Reginald Brown of WilmerHale.

  • Founders Find Leverage In Investors’ Short Memories

    Les Trachtman

    The only rationale for why the capital markets have succumbed to the trendy scheme of dual-class stock is that economist John Kenneth Galbraith was right — when it comes to financial markets, we do have short memories. History is littered with well-meaning founders and chief executives who succumbed to the seduction of wealth and power, says Les Trachtman, CEO of The Trachtman Group.

  • Inside China's New Policies On Overseas Investments

    Lester Ross

    Several policies and rules were introduced in 2016 and 2017 to tighten China's control and supervision of overseas investment activities, including new guidelines promulgated last month. These policies impose a much stricter regulatory regime, raise hurdles for cross-border currency outflows, and place particular emphasis on certain areas, say Lester Ross and Kenneth Zhou of WilmerHale.

  • How Collaboration Is Changing Inside Some Law Firms

    Chris Cartrett

    In our recent survey of business of law professionals, nearly half of respondents said that who they collaborate with, inside their law firm, is different from five years ago, says Chris Cartrett of legal software provider Aderant.

  • Opinion

    Dealing With Difficult Lawyers

    Alan Hoffman

    Some lawyers tend to be overly aggressive, regarding law practice as a zero-sum game in which there are only winners and losers. The best response is to act professionally — separating the matter at hand from the personalities. But it is also important to show resolve and not be vulnerable to intimidation, says Alan Hoffman of Husch Blackwell LLP.

  • Delaware Suit Brings Lessons For Externally Managed REITs

    Steven Haas

    A Delaware court recently denied a motion to dismiss H&N Management Group v. Crouch, a shareholder derivative suit brought against an externally managed real estate investment trust alleging breach of fiduciary duties. The case is a reminder about managing conflicts of interest, among other things, say Steven Haas and David Wright of Hunton & Williams LLP.

  • Preserving The Business Deal In The Final Hours

    Justin Stolte

    When an asset transaction in the oil and gas sector is close to being executed, a deal team is often faced with a very short time in which to provide additional financing information and a final purchase and sale agreement. As a consequence, certain concerns may be inadequately addressed or completely forgotten, says Justin Stolte of Gibson Dunn & Crutcher LLP.