Private Equity

  • June 01, 2020

    Freshfields Steers 3 PE Firms' $3.3B Bid For Spain's MasMovil

    MasMovil, Spain's fourth-largest phone operator, said Monday that three private equity firms advised by Freshfields Bruckhaus Deringer LLP made a roughly €3 billion ($3.3 billion) bid to take the company private and acquire equal stakes in one of the largest takeovers announced during the coronavirus pandemic.

  • June 01, 2020

    Pot Co. Acreage Raises $60M In Pair Of Funding Deals

    Cannabis company Acreage Holdings on Monday said it secured $60 million through a pair of funding agreements, including $10 million in debt secured with the company's medical marijuana dispensaries in Connecticut.

  • June 01, 2020

    3 Firms Help Two Biotechs Term IPOs Worth $205M

    Three law firms are representing biotechnology companies Applied Molecular Transport and Calliditas Therapeutics as they set terms Monday for their American initial public offerings worth about $205 million.

  • June 01, 2020

    Ropes & Gray, Allen & Overy Steer $336M Health Care Deal

    Private equity firm Avista Capital Partners said Monday it will acquire European health care company Vision Healthcare alongside co-investor VHC Investco in a deal steered by Ropes & Gray LLP and Allen & Overy LLP that values Vision Healthcare at €305 million (about $336 million).

  • June 01, 2020

    Latham-Led Fintech Shift4 Payments Launches $300M IPO

    Private equity-backed payment processor Shift4 Payments Inc. on Monday joined a growing initial public offering pipeline, setting a price range for an IPO estimated to raise $300 million guided by Latham & Watkins LLP and underwriters counsel Simpson Thacher & Bartlett LLP.

  • June 01, 2020

    Perkins Coie Adds M&A Partner To Burgeoning Texas Team

    Perkins Coie LLP added an experienced attorney to its corporate and securities practice from K&L Gates LLP in Dallas last week, adding to its expanding Texas operations.

  • June 01, 2020

    Barclays Forced To Give Up PE Firm Legal Docs In Fraud Suit

    A London judge ordered Barclays to hand over more than 1,500 documents detailing legal advice it received during its dealings with Qatar at the height of the financial crisis, ruling Monday as the trial approaches that the materials are no longer privileged.

  • May 29, 2020

    Neiman Marcus Ch. 11 Examiner Bid Dropped After Criticism

    A Neiman Marcus noteholder withdrew its request Friday for a probe of a pre-Chapter 11 transfer of $1 billion to the retailer's private equity owners, after a Texas bankruptcy judge criticized both the motion and the performance of a Neiman director on the stand.

  • May 29, 2020

    Chancery Tosses Tardy Investor Suit Over Undervalued Biz

    A private equity investor that sat out an appraisal suit challenging a tech company's 2013 cash-out merger price, only to see the Delaware Chancery Court set a price 2.6-times higher for those who did, waited too long to sue the company's controllers afterward, a Delaware vice chancellor ruled Friday.

  • May 29, 2020

    Latham, Meitar Lead Fiverr's $120M Follow-On Deal

    Israeli online marketplace startup Fiverr, led by Latham & Watkins and Israeli firm Meitar, priced a follow-on offering at $120 million to raise money for growth and general business activities.

  • May 29, 2020

    Don't Miss It: Ropes, DLA Piper Guide Week's Hot Deals

    With so much mergers and acquisitions news this week, you may have missed multiple deals announced in the last several days helmed by firms such as Ropes & Gray and DLA Piper. Here, Law360 recaps the ones you may have missed.

  • May 29, 2020

    Coronavirus Q&A: Foley & Lardner's Health Practice Chair

    In this edition of Coronavirus Q&A, one of Foley & Lardner LLP's top health lawyers discusses how the pandemic's psychological trauma could reshape mental health care and what COVID-19's brutal toll on senior citizens means for nursing home operations and investments.

  • May 29, 2020

    Can Cannabis Survive The Virus? The Cash Crunch Intensifies

    Nearly three months after the pandemic stay-at-home orders began, cannabis companies already facing a capital crunch are encountering fewer investors, more questions and harsher terms as they fight to raise the money to stay in business beyond COVID-19.

  • May 29, 2020

    Allen & Overy-Led Peet's Coffee Owner Prices €2.25B IPO

    Guided by Allen & Overy LLP, the owner of Peet's Coffee priced its upsized initial public offering Friday, which it said would raise approximately €2.25 billion (about $2.5 billion), in one of the largest offerings of 2020 that values the beverage company at about $17.3 billion.

  • May 29, 2020

    Kirkland, Sidley Steer Starwood's $325M Lifeline To TPG Unit

    Starwood Capital has agreed to inject up to $325 million into a troubled TPG real estate finance unit, a deal guided by Sidley Austin LLP and Kirkland & Ellis LLP that's intended to help keep the unit afloat in the current market conditions.

  • May 29, 2020

    Taxation With Representation: White, Freshfields, Fenwick

    In this week's Taxation With Representation, Panasonic takes a minority stake in supply chain company Blue Yonder, private equity firm Goldfinch Partners takes a majority stake in fintech services provider Vesta, and Coinbase acquires crypto-focused prime brokerage platform Tagomi.

  • May 29, 2020

    Pa. Law Firm Sued Over Client's $134M Unpaid Judgment

    A private equity financier has filed suit against Pittsburgh law firm Elliott & Davis PC and its client, the husband of a high-profile Indian technology executive, saying the firm has been paid with funds owed to the lender as part of a $134 million judgment in a separate case.

  • May 29, 2020

    3 Firms Steer Oncology Biotech's $350M Spinoff, IPO Plans

    Legend Biotech, a clinical-stage biotechnology company being spun out of GenScript, said Friday it hopes to raise $350 million in an initial public offering steered by Cooley LLP, Harney Westwood & Riegels and JunHe LLP.

  • May 29, 2020

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

    The past week in London has seen German financier Lars Windhorst dragged into court by a hospitality company, an Emirati lender sue former executives of a scandal-hit health company, and a bank representing the estate of musical artist Prince file IP claims against a unit of a major record label.

  • May 29, 2020

    Kirkland Steers IK Investment Partners To €2.85B PE Fund

    European private equity firm IK Investment Partners, advised by Kirkland & Ellis, said Friday that it has clinched its ninth midcap fund after raising €2.85 billion ($3.17 billion) from limited partners, with plans to target middle market investments in sectors including food and health care.

  • May 28, 2020

    DOJ Clears Satellite Cos. Merger With Conditions

    Global electronic components maker Communications and Power Industries LLC clinched U.S. Department of Justice approval Thursday to acquire a business unit of General Dynamics Corp. for $175 million, as long as the California-based company sells its satellite business subsidiary.

  • May 28, 2020

    Basketball League Calls Quinn A Qatar 'Spy' In Commish Case

    Heading into a fight over a seven-figure legal bill, a three-on-three basketball league co-led by entertainer Ice Cube filed a New York lawsuit Thursday accusing Quinn Emmanuel of being a "spy" for Qatar when it represented the organization known as Big3.

  • May 28, 2020

    KKR Clinches $4B Credit Fund With Support From Paul Weiss

    KKR, advised by Paul Weiss, said Thursday it has raised $4 billion for a credit fund that will invest in opportunities that exist as a result of market dislocation caused by the coronavirus pandemic, including in areas like private equity, infrastructure and real estate.

  • May 28, 2020

    Hong Kong Policy Shift Could Usher In Trade Firestorm

    The Trump administration's declaration that Hong Kong is no longer autonomous from China has opened the door for a wave of potential new trade and investment restrictions that could severely curtail American companies' ability to do business in the region.

  • May 28, 2020

    Tech Marketing Co. Raises $50M In Funding Round

    Bluecore, a technology company that helps retailers send personalized marketing emails to consumers, said Thursday it raised $50 million in funding with help from a Canadian growth equity firm.

Expert Analysis

  • How Lawyers Can Network Better, Virtually And In Person

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    The current decrease in formality and increase in common ground due to the work-from-home environment can make it easier to have a networking conversation, says Megan Burke Roudebush at Keepwith.

  • Practical Tips For Presenting Your Case To Litigation Funders

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    One mistake that attorneys commonly make when presenting a case to a third-party funder is focusing almost exclusively on liability and giving short shrift to the damages analysis — resulting in an aspirational damages estimate that falls apart under scrutiny, say Cindy Ahn and Justin Maleson at Longford Capital and Casey Grabenstein at Saul Ewing.

  • Avoiding Inadvertent Privilege Waivers In E-Communications

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    Attorneys at WilmerHale highlight recent developments in privilege law, the significant challenges raised by nontraditional working arrangements popularized during the pandemic, and ways to avoid waiving attorney-client privilege when using electronic communications.

  • PE Minority Investments Offer Alternative Capital During Crisis

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    Cash-strapped companies looking for alternative sources of capital during the pandemic can take advantage of private equity funds’ newfound willingness to make minority investments, which can bring managerial, financial, technical and industry expertise to a business in exchange for considerable control over ongoing operations, say attorneys at Winston & Strawn.

  • 5 Tips For Drafting Effective Legal Billing Guidelines

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    To properly manage outside counsel, it's imperative for a company's legal department to implement and maintain rules on what they will and won't pay for, on staffing cases and requesting rate increases, and on how matters will be handled, says Chris Seezen at Quovant.

  • Opinion

    Don't Cancel Your Summer Associate Programs

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    While pulling off an effective summer associate program this year will be no easy feat, law firms' investments in their future attorneys should be considered necessary even during this difficult time, says Summer Eberhard at Major Lindsey.

  • 5 Ways To Reduce Post-Pandemic Legal Malpractice Exposure

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    History suggests that legal malpractice claims will rise following the current economic downturn, and while a certain percentage of the claims will be unavoidable, there are prophylactic steps that law firms can take, says John Johnson at Cozen O'Connor.

  • CARES Act Will Affect Earnouts, Purchase Price Adjustments

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    M&A professionals must be mindful of the CARES Act's implications for certain definitions in transaction documents — including earnings before interest, taxes, depreciation and amortization, net working capital, and indebtedness — as they will shape future earnout provisions and purchase price adjustments, say advisers at Holland & Knight and Daszkal Bolton.

  • Using The M&A Slowdown To Prepare A Portfolio Co. For Sale

    Excerpt from Lexis Practice Advisor
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    Dealmakers can take advantage of COVID-19’s dampening effect on M&A activity to work through timing, pandemic considerations and sale process coordination for portfolio company sales so their deals will be ready when the market eventually picks back up, say Michael Gilligan and Caitlin Cornell at Schulte Roth.

  • Opinion

    Credibility Concerns About Virtual Arbitration Are Unfounded

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    Concerns that videoconferenced arbitration hearings compromise an arbitrator's ability to reliably resolve credibility contests are based on mistaken perceptions of how many cases actually turn on credibility, what credibility means in the legal world, and how arbitrators make credibility determinations, says Wayne Brazil at JAMS.

  • A Tax Primer For PE Investment In Distressed Real Estate Debt

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    Investors interested in discount purchases of distressed real estate debt in the wake of the pandemic must consider potential tax obligations, many of which may be triggered without concurrent receipt of cash proceeds to pay the tax, says Peter Elias at Pillsbury.

  • A Lawyer's Guide To Client Service Continuity Planning

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    Ensuring uninterrupted client service and compliance with ethical obligations in a time when attorneys are more likely to fall ill means taking six basic — yet often ignored — steps to build some redundancy and internal communication into legal practice, say attorneys at Axinn.

  • Virtual Meetings Could Be Fertile Ground For Legal Discovery

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    Many remote meeting technologies include recording features as default settings, raising three primary concerns from a legal discovery and data retention perspective, and possibly bringing unintended consequences for companies in future litigation, says Courtney Murphy at Clark Hill.

  • Performance Vesting Is Trickier Than You Think

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    Despite the general ubiquity of performance-based vesting in the capital structures of post-buyout and other growth companies, it is surprising how little attention is often paid to how performance vesting actually works, say John LeClaire and Chris Wilson at Goodwin.

  • Contingent Fees A Great Option For Cos. During Downturn

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    In-house counsel may assume that "elite" law firms will turn up their noses at the idea of contingent fees, but such arrangements, whether pure or hybrid, are offered by many firms — even to defendants — and may be the answer to tight litigation budgets, say attorneys at Fish & Richardson.

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