Private Equity

  • December 07, 2021

    4 Firms Shape Biosimilar Biz Alvotech's $2.3B SPAC Deal

    Cooley LLP-led Icelandic drugmaker Alvotech said Tuesday it plans to merge with Oaktree Acquisition Corp. II, a special purpose acquisition company guided by Kirkland & Ellis LLP and King & Spalding LLP with Shearman & Sterling LLP advising the placement agents, and go public with the combined company valued at $2.25 billion.

  • December 06, 2021

    FTC's Nvidia Challenge Calls Arm 'De Facto Industry Standard'

    The Federal Trade Commission's complaint challenging Nvidia Corp.'s planned $40 billion purchase of Arm Ltd. alleges the move would give one of the largest and most valuable computing companies in the world ownership over technology that's crucial to its rivals.

  • December 06, 2021

    Intertrust Inks €1.8B Deal With CSC After Abandoned PE Bid

    Corporation Service Co., advised by Skadden, will buy Intertrust for roughly €1.8 billion ($2 billion), the companies said Monday, in a deal that comes only a few days after a competing suitor dropped out and just over a month since the Dutch administrative services provider was first targeted by an activist investor.

  • December 06, 2021

    Binance, Animoca Brands Unveil $200M Gaming Incubator

    Cryptocurrency exchange Binance said Monday its funding arm for blockchain-based projects is partnering with Animoca Brands to launch a $200 million investment program for supporting new gaming startups.

  • December 06, 2021

    Goodwin-Led YipitData Raises Up To $475M In Series E

    Goodwin-led market research firm YipitData said Monday it's raising up to $475 million in a Series E funding round led by Alston & Bird-guided Carlyle.

  • December 06, 2021

    Trump's Social Media SPAC Merger Probed By SEC, FINRA

    Financial regulators are investigating a proposed deal to take former President Donald Trump's planned social media venture public through a special-purpose acquisition company, according to a Monday filing from the blank-check company.

  • December 06, 2021

    Skadden-Led Genesys Lands $21B Valuation In Financing

    Skadden-led customer support company Genesys said Monday it was valued at $21 billion for its latest funding round that included Salesforce Ventures, Zoom Video Communications and BlackRock.

  • December 06, 2021

    SEC Seeks Docs In Probe Of $11.75B Lucid Motors SPAC Deal

    The U.S. Securities and Exchange Commission is investigating the $11.75 billion special-purpose acquisition company merger featuring California electric car company Lucid Motors, with Lucid saying Monday that the regulator has issued a subpoena for certain documents.

  • December 06, 2021

    LV Members Urge FCA To Pause £530M Bain Takeover Bid

    The Financial Conduct Authority should step in to delay an important vote in the controversial £530 million ($700 million) takeover of Liverpool Victoria, lawyers representing members of the mutual insurer have said.

  • December 06, 2021

    Crowell & Moring Snags McGuireWoods Derivatives Team

    Crowell & Moring LLP has added a four-attorney derivatives team from McGuireWoods LLP in London, eyeing more investment bank and private equity clients, the firm announced Monday.

  • December 03, 2021

    Kentucky Pension Fund Says It Can't Be Sued In Delaware

    A state pension fund pushed Delaware's Chancery Court on Friday to toss its contract dispute with a New York hedge fund manager, arguing that a U.S. Supreme Court decision in 2019 requires the case to be heard in Kentucky.

  • December 03, 2021

    Energy M&A Roared Back To Life In 2021

    A rebound in oil and gas prices heading out of likely the worst of the COVID-19 pandemic led to a banner year for energy deal-making, with billions of dollars splashed out for both conventional and renewable energy assets. Here are six energy M&A trends that stood out to attorneys in 2021.

  • December 03, 2021

    Don't Miss It: King & Spalding, Kirkland Rep Week's Hot Deals

    With so much mergers and acquisitions news this week, you may have missed some deals announced in the last several days, helmed by firms such as King & Spalding LLP and Kirkland & Ellis LLP.

  • December 03, 2021

    More Chinese Companies Expected To Follow Didi's Delisting

    Chinese ride-hailing app Didi Global Inc.'s intention to delist from the New York Stock Exchange months after a high-profile initial public offering further accelerates the divorce between U.S and Chinese capital markets and could spur more companies to follow suit, experts said Friday.

  • December 03, 2021

    Trade Leaders See Proof Of Concept In WTO Services Pact

    World Trade Organization leaders are pointing to a recent deal to soften the regulation of service providers in foreign countries as evidence that the WTO's lagging negotiating can still deliver results.

  • December 03, 2021

    Med Device Maker Valued At $2.25B In Minority Investment

    Private equity firm GTCR said Friday it sold a minority equity stake in medical device manufacturer Resonetics to The Carlyle Group in a deal valuing the portfolio company at $2.25 billion, in a matter guided by Kirkland & Ellis LLP and Debevoise & Plimpton LLP.

  • December 03, 2021

    Advent, GIC Drop $8B Bid For Swedish Drugmaker Sobi

    Advent International and Singapore's sovereign wealth fund announced Friday they have withdrawn a 69.4 billion Swedish krona ($8 billion) buyout bid for Swedish drugmaker Sobi, after too few shares were tendered in favor of the deal.

  • December 03, 2021

    Sidley Pilots $200M IPO For FanDuel Alums' Gambling SPAC

    Bullpen Parlay Acquisition Co., an online gambling-focused special purpose acquisition company founded by two former FanDuel executives, began trading on the Nasdaq Friday after raising $200 million in an initial public offering guided by Sidley Austin LLP and underwriter's counsel Reed Smith LLP.

  • December 03, 2021

    Taxation With Representation: Skadden, Latham

    In this week's Taxation With Representation, insurance broker Arthur J. Gallagher & Co. will acquire the reinsurance broking arm of rival Willis Towers Watson, industrial 3D printing business Essentium will go public with blank-check company Atlantic Coastal, and Distributed energy firm Voltus will go public by merging with special purpose acquisition vehicle Broadscale Acquisition Corp.

  • December 03, 2021

    AmEx Business Travel Unit Hits $5.3B Value In SPAC Deal

    American Express Global Business Travel, advised by Skadden and Steptoe & Johnson LLP, will go public at a $5.3 billion valuation by merging with an Apollo Global-backed special purpose acquisition vehicle, advised by Paul Weiss, the companies said Friday.

  • December 02, 2021

    3 Takeaways From FTC Challenge Of Nvidia's $40B Arm Deal

    The Federal Trade Commission on Thursday brought the biggest merger challenge yet filed under Chair Lina Khan, in a 4-0 vote of bipartisan opposition to Nvidia Corp.'s planned $40 billion purchase of SoftBank's semiconductor business Arm Ltd. that could be the first of several enforcer attacks on the vertical transaction.

  • December 02, 2021

    Tax Accounting Firm Wants Out Of Ponzi Scam Suit

    Three named defendants in a proposed class action suit against Oppenheimer & Co. over an alleged $110 million Ponzi scheme asked a Georgia federal judge on Wednesday to be dismissed from the case, arguing that the suit made "conclusory allegations" about their involvement.

  • December 02, 2021

    Blackstone REIT Lands $690M In Financing From 2 Banks

    Wells Fargo Bank NA and United Overseas Bank have provided $690 million in financing to Blackstone Real Estate Income Trust for a portfolio of properties that spans multiple states and various asset classes, according to an announcement Thursday from borrower-side broker Jones Lang LaSalle.

  • December 02, 2021

    White & Case Adds Direct Lending Pro To Chicago Office

    White & Case LLP has added a debt finance partner from Katten Muchin Rosenman LLP to its office in Chicago who brings with him extensive experience helping clients navigate the world of direct lending.

  • December 02, 2021

    Robinhood Tells Court Mass. Regulator Exceeding Authority

    Robinhood Financial Inc. urged a Massachusetts judge Thursday to strike down a rule that holds brokerages to the same fiduciary standard as investment advisers, saying the state's top securities regulator is stepping on the toes of the Legislature, the executive and the judiciary with the move.

Expert Analysis

  • When And How To Depose Fact Witnesses Remotely In 2022

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    Tim Tryniecki and Thomas Mudd at MG+M offer a series of practice tips for successfully conducting remote depositions of often-inexperienced fact witnesses, as the virtual court proceedings sparked by COVID-19 look set to become a part of the legal landscape next year.

  • Series

    Embracing ESG: PayPal CLO Talks Gauging Impact And Intent

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    For legal teams, the corporate evolution toward more intentional post-COVID-19 environmental, social and governance strategies means deeper integration across business functions, seeking counsel on emerging issues affecting stakeholders, adapting initiatives around changing policies and regulations, and advancing ESG reports to better measure impact, says Louise Pentland at PayPal.

  • Compliance Lessons For PE Sponsors Amid SEC Scrutiny

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    Recent comments from U.S. Securities and Exchange Commission Chairman Gary Gensler offer valuable insight to private equity sponsors seeking to improve their compliance programs and practices as the commission increases its focus on private funds, and institutional investors evaluating or monitoring their private equity investments, say Andrew Lom and Garry Padrta at Norton Rose.

  • The Implications Of COP26 For Legal Practitioners

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    Developments at the recent United Nations Climate Change Conference will create both opportunities and risks for lawyers — with many new laws, regulations and industry best practices to track, and a growing pipeline of new energy and infrastructure projects to facilitate, say Caroline May and Charles Winch at Norton Rose.

  • SEC's Proxy Voting Proposal Could Shake Up Private Funds

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    The U.S. Securities and Exchange Commission's recently proposed proxy voting rule would require many private fund managers to disclose their executive compensation votes for the first time, potentially affecting how managers pursue investment strategies, say attorneys at Schulte Roth.

  • Without Leadership Buy-In, Law Firm DEI Efforts Stand To Fail

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    A law firm's diversity, equity and inclusion strategies need the full attention and support of its top leadership to succeed, and requiring the firm's key decision makers to join the DEI committee can make the difference, says Noble Allen at Hinckley Allen.

  • What 2021 Enforcement Results Say About SEC's Agenda

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    The U.S. Securities and Exchange Commission's recently released enforcement results include a number of expedited actions that, in concert with public statements and broader agency initiatives, reveal a focus on cryptocurrency, special purpose acquisition companies, Regulation Best Interest and cybersecurity, say attorneys at Skadden.

  • Series

    Confronting Origination Credit: Self-Advocacy Tips For Attys

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    Female lawyers and lawyers of color have historically not been privy to the rules of the origination credit game, but they can employ various strategies to increase the chances of receiving the credit they are due, such as enlisting allies for support and tracking inequity patterns, says Marianne Trost at The Women Lawyers Coach.

  • A Real-World Guide To Staying Discovery In Federal Court

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    Pleas for stay of discovery under the Federal Rules of Civil Procedure are often rejected when motions to dismiss are pending due to a tenacious tangle of case law, imposing financial and administrative burdens on parties, but some unambiguous rules of thumb can be gleaned to maximize the chances of a discovery stay, says Amir Shachmurove at Reed Smith.

  • 2nd Circ. Madoff Ruling Is A Win For Asset Recovery Trustees

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    In the Bernie Madoff investor clawback case, the Second Circuit recently ruled that the inquiry notice standard for considering a transferee's good faith applies in liquidation proceedings, which means Securities Investor Protection Act trustees can now rely on a lesser standard and may face less difficulty surviving a motion to dismiss, say attorneys at Seward & Kissel.

  • 3 Cases Could Influence Electric Vehicle SPAC Litigation

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    Several ongoing lawsuits concerning electric vehicle special purpose acquisition companies could eventually map out liability standards for forward-looking statements on issues such as green energy projections, say attorneys at Quinn Emanuel.

  • How To Draft Earnouts That Avoid Post-Closing Disputes

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    The recent Delaware cases of Pacira BioSciences v. Fortis Advisors and Shire v. Shareholder Representative Services illustrate the importance of drafting earnouts with appropriate specificity and clarity to avoid post-closing disputes and litigation, say attorneys at Fried Frank.

  • Mitigating Inflation's Impact On Commercial Contracts

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    As accelerating inflation threatens to turn many commercial contracts unprofitable for sellers, lessors and lenders, prospects of court relief are slim, but certain contract clauses and revisions can help, says Jonathan Hugg at Schnader Harrison.

  • Did Trump's SPAC Violate Federal Securities Law?

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    Amid speculation of an impending U.S. Securities and Exchange Commission crackdown on special purpose acquisition company regulation, former President Donald Trump's social media-related SPAC could face securities law scrutiny and civil litigation, say Michelle Genet Bernstein and Daniel Maland at Mark Migdal & Hayden.

  • Heed These Rules, Or Risk Your Argument On Appeal

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    Failing to meet the scattered requirements for appellate preservation can have dire consequences, so litigants must understand the relevant briefing rules, the differences between waiver and forfeiture, and the four components of a pressed argument in order to get their case fully considered on appeal and avoid sanctions or dismissal, says Michael Soyfer at Quinn Emanuel.

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