Private Equity

  • April 30, 2024

    Morrisons, MFG Close £2.5B Petrol Station Deal

    Morrisons said Tuesday it has closed the sale of its 337 petrol station forecourts and 400 electric vehicle charging points to an independent forecourt operator in a £2.5 billion ($3.18 billion) transaction advised by five law firms including Pinsent Masons LLP.

  • April 30, 2024

    Don't Miss It: McDermott, Paul Weiss Lead Month's Hot Deals

    A lot can happen in the world of mergers and acquisitions over the course of a month. Here, Law360 recaps the deals you may have missed, including transactions helmed by McDermott and Paul Weiss.

  • April 30, 2024

    Golub Capital Amasses $2B For 6th Credit Opportunities Fund

    Private credit-focused asset management firm Golub Capital on Tuesday announced that it clinched its sixth credit opportunities fund after amassing $2 billion of capital from investors.

  • April 30, 2024

    PE-Backed Medline Buying Ecolab's Surgical Unit For $950M

    Private equity-backed medical supply company Medline said Tuesday it has agreed to acquire the global surgical solutions business of Ecolab Inc. for $950 million in cash.

  • April 30, 2024

    Backing For Concord's $1.5B Hipgnosis Bid Falls

    Support for music rights company Concord Chorus' $1.5 billion bid for rival Hipgnosis Songs Fund Ltd. dropped among the latter's shareholders on Tuesday, after private equity giant Blackstone swooped in with an improved $1.6 billion offer.

  • April 30, 2024

    UAE-Backed Firm Walks Away From Telegraph Deal, Eyes Sale

    RedBird IMI said Tuesday that it will ditch its takeover of Telegraph Media Group and sell the business as the Abu Dhabi-backed private equity firm added that its plans are "no longer feasible," citing a push to ban foreign ownership of British media groups.

  • April 29, 2024

    Amazon Files $200M Countersuit Over Solar Projects' Fallout

    Amazon claims a California-based private equity firm reneged on a pair of 15-year deals to sell it power from two new solar developments, launching a suit in Washington state court following competing allegations in California that the retail giant tried to sabotage the projects after signing the deals.

  • April 29, 2024

    Cyber Co. ZeroFox Investor Sues In Del. For Sale Docs

    A ZeroFox Holdings Inc. stockholder sued in Delaware's Court of Chancery Monday for books and records on the cybersecurity intelligence company's $1.14 per share, $350 million sale to private equity firm Haveli Investments, citing questions about a pre-closing reduction in the company's value estimate.

  • April 29, 2024

    Catching Up With Delaware's Chancery Court

    A multibillion-dollar Tesla trust proposal, a Truth Social bond, power plays over Prince's estate, and three in the ring for World Wrestling Entertainment. All of this and much more came up in Delaware Chancery Court dockets last week.

  • April 29, 2024

    Paramount CEO Departs As Rumors Of Skydance Deal Swirl

    Paramount Global said Monday that CEO Bob Bakish is stepping down and will be replaced by three senior company executives, as the company is said to be closing in on a merger deal with Skydance Media.

  • April 29, 2024

    WeWork Wins Conditional OK Of Ch. 11 Plan Disclosures

    A New Jersey bankruptcy judge gave conditional approval Monday to bankrupt flexible office space company WeWork Inc.'s reorganization plan disclosure statement over the objection of WeWork's former owner Adam Neumann, finding the disclosure contained adequate information.

  • April 29, 2024

    No Need To Delay $811M Immigrant Bond Co. Fine, CFPB Says

    The Consumer Financial Protection Bureau told a Virginia federal judge that there is no need to hold off fining a bonding company $811 million for predatory bonding practices, saying the company's fear of collapse is mooted by a recent sale.

  • April 29, 2024

    StarKist Looks To Block Guilty Plea From Price-Fixing Trial

    StarKist and its South Korea-based owner are urging a California federal judge to reject a bid by packaged tuna buyers to bring evidence of the tuna company's guilty plea into the civil litigation, arguing that the plea agreement with the U.S. Department of Justice is irrelevant to a trial over claims that major tuna brands conspired to keep prices high.

  • April 29, 2024

    Kirkland Adds 2nd Funds Group From Goodwin This Year

    Kirkland & Ellis LLP has hired a group of four attorneys specializing in investment funds from Goodwin Procter LLP, the firm said Monday, following its addition of five investment funds lawyers from the same firm in February.

  • April 29, 2024

    Bruin Capital Buys Turf Management Co. PlayGreen

    Sports-focused private equity shop Bruin Capital, advised by Simpson Thacher & Bartlett LLP, announced on Monday that it is acquiring a majority stake in PlayGreen BV Inc., the Netherlands-based holding company that owns turf management company Stadium Grow Lighting.

  • April 29, 2024

    Viking Upsizes IPO To $1.2B As More Companies Enter Fray

    Cruise operator Viking Holdings Ltd. on Monday upsized its expected initial public offering to about $1.2 billion, by increasing the number of shares that existing stockholders plan to sell, as more companies join an expanding IPO pipeline.

  • April 29, 2024

    Proskauer Brings On WndrCo GC As NY Private Funds Partner

    Proskauer Rose LLP said Monday that it has added a former general counsel and general partner of venture capital firm WndrCo as a private funds partner in New York.

  • April 29, 2024

    Hipgnosis Backs Blackstone's New $1.6B Offer In Bidding War

    Blackstone said on Monday that the directors of music rights company Hipgnosis Songs will back a new $1.6 billion offer by the private equity giant after they said they would withdraw their backing for an earlier $1.5 billion bid from a U.S. competitor, Concord Chorus.

  • April 26, 2024

    Law360 Reveals Titans Of The Plaintiffs Bar

    In the past year, plaintiffs have won settlements and judgments for millions and billions of dollars from companies such as Wells Fargo, Goldman Sachs, Facebook and Fox News, with many high-profile cases finally wrapping up after years of fighting. Such cases — involving over-the-top compensation packages, chemical contamination, gender discrimination and data mining — were led by attorneys whose accomplishments earned them recognition as Law360's Titans of the Plaintiffs Bar for 2024.

  • April 26, 2024

    ERISA Suits Targeting Annuity Deals Could Escalate

    A quartet of lawsuits targeting employers who terminate their pension plans and exchange them for annuity insurance contracts could trigger a new wave of class action litigation if they gain traction, since hundreds of thousands of retirees have been subject to pension risk transfers in recent years, attorneys say.

  • April 26, 2024

    Blackstone Must Face Claims Of Price-Fixing At Vegas Hotels

    A Las Vegas hotel price-fixing suit against Blackstone and others has survived the private equity firm's motion to dismiss, with a Nevada federal judge ruling the plaintiffs had shown enough to allege Blackstone was in control of one of the target hotels, the Cosmopolitan Hotel, at the time of the alleged scheme.

  • April 26, 2024

    L Catterton Buys Majority Stake In KIKO Milano At $1.5B Value

    Private equity firm L Catterton said Friday it has agreed to buy a majority stake in the Percassi family's beauty brand KIKO Milano, in a deal steered by Italian law firms Bonelli Erede Lombardi Pappalardo and Gatti Pavesi Bianchi Ludovici, respectively, along with several additional consultants and financial advisers. 

  • April 26, 2024

    Therapy Co. SPAC Investors To Settle Del., Ill. Merger Suits

    An attorney for a blank-check company that took ATI Physical Therapy Inc. public told Delaware's Court of Chancery it has agreed to settle two proposed stockholder class actions in conjunction with pending federal class and derivative suits in the Northern District of Illinois.

  • April 26, 2024

    Freshfields Guides PE Giant CVC Capital's Upsized $2.1B IPO

    European private equity giant CVC Capital Partners PLC rose in debut trading Friday after the firm priced an upsized €2 billion ($2.1 billion) initial public offering, marking the latest high-profile listing in Europe, represented by Freshfields Bruckhaus Deringer LLP.

  • April 26, 2024

    Wachtell Guides Apollo On $1.85B Deal For Minerals Co.

    Wachtell Lipton Rosen & Katz-led Apollo Global Management has agreed to purchase Morrison Foerster LLP-advised U.S. Silica Holdings Inc. at a $1.85 billion enterprise value, the producer of commercial silica disclosed Friday, sending its stock soaring more than 20%.

Expert Analysis

  • Series

    ESG Around The World: Singapore

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    Singapore is keen to establish itself as a leading international financial center and a key player in the sustainable finance ecosystem, and key initiatives led by its government and other regulatory bodies have helped the Asian nation progress from its initially guarded attitude toward ESG investment and reporting, say attorneys at Morgan Lewis.

  • Series

    The Pop Culture Docket: Judge D'Emic On Moby Grape

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    The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.

  • Series

    Performing Music Makes Me A Better Lawyer

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    The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.

  • How 'As Such' Changes LPs' Self-Employment Tax Exposure

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    In light of the U.S. Tax Court’s recent Soroban Capital Partners decision hinging on "as such" to define the statutory limited partners exemption, state law limited partnerships should consider partners' roles and responsibilities before determining whether they are obligated to pay self-employment income tax, say attorneys at Morgan Lewis.

  • The SEC's Cooled Down But Still Spicy Private Fund Rules

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    Timothy Spangler and Lindsay Trapp at Dechert consider recently finalized U.S. Securities and Exchange Commission rules, which significantly alter the scope of obligations private fund advisers must meet under the Investment Advisers Act, noting the absence of several contentious proposals and litigation that could result in implementation delays.

  • Breaking Down High Court's New Code Of Conduct

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    The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.

  • Opinion

    Legal Profession Gender Parity Requires Equal Parental Leave

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    To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.

  • Opinion

    Activist Short-Sellers Are The Dark Knights Of Wall Street

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    While so-called activist short-sellers have been subject to increased scrutiny in recent years, these investors work in the shadows like Batman to expose fraud on Wall Street, often generating leads that may move regulators to take action, say attorneys at Labaton Sucharow.

  • Series

    Writing Thriller Novels Makes Me A Better Lawyer

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    Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.

  • What Lawyers Must Know About Calif. State Bar's AI Guidance

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    Initial recommendations from the State Bar of California regarding use of generative artificial intelligence by lawyers have the potential to become a useful set of guidelines in the industry, covering confidentiality, supervision and training, communications, discrimination and more, say attorneys at Debevoise.

  • Industry Must Elevate Native American Women Attys' Stories

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    The American Bar Association's recent research study into Native American women attorneys' experiences in the legal industry reveals the glacial pace of progress, and should inform efforts to amplify Native voices in the field, says Mary Smith, president of the ABA.

  • A Breakdown Of The OCC's New Venture Lending Pointers

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    In light of the Office of the Comptroller of the Currency's recent bulletin outlining venture lending risks for banks, Matt Schwartz and Jeffrey Hare at DLA Piper highlight key considerations for both lenders and venture-backed companies seeking or maintaining loans from OCC-regulated national banks and federal thrifts.

  • Crypto, Audit Cases Dominate SEC's Enforcement Focus In '23

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    Attorneys at Covington examine the U.S. Securities and Exchange Commission's fiscal year 2023 enforcement results, which marked the SEC's third consecutive year of increasing enforcement activity since Chair Gary Gensler took over in 2021 — this time driven by a focus on combating cryptocurrency-related scams and enforcing recordkeeping compliance.

  • Understanding Discovery Obligations In Era Of Generative AI

    Excerpt from Practical Guidance
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    Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.

  • Series

    ESG Around The World: Mexico

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    ESG has yet to become part of the DNA of the Mexican business model, but huge strides are being made in that direction, as more stakeholders demand that companies adopt, at the least, a modicum of sustainability commitments and demonstrate how they will meet them, says Carlos Escoto at Galicia Abogados.

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