Private Equity

  • June 24, 2024

    Mortgage Co. Fights To End Borrowers' RICO 'Smear' Suit

    United Wholesale Mortgage has urged a Michigan federal judge to toss a putative class action claiming it violated the Racketeer Influenced and Corrupt Organizations Act by forcing brokers to originate loans through UWM, arguing the suit is an illegitimate "smear" attempt to tarnish UWM's reputation to benefit hedge fund short-sellers.

  • June 24, 2024

    Catching Up With Delaware's Chancery Court

    Amendments to Delaware's General Corporation Law topped the news out of the Court of Chancery again last week, as the hotly contested measure sailed through the state's legislature. Tesla and its shareholders continued their tug-of-war over attorney fees for Chancery litigation about Elon Musk's pay package, and new cases were filed involving biotechs, car rental companies, workout platforms, telecom towers, and a cargo ship fire in Brazil.

  • June 24, 2024

    Latest Gibson Dunn Transactions Hire Joins From Paul Weiss

    Gibson Dunn & Crutcher LLP said Monday it has brought on a former Paul Weiss Rifkind Wharton & Garrison LLP attorney in the latest of the firm's many recent transactional lateral hires.

  • June 24, 2024

    Defense Contractor Gresham Inks $83M SPAC Merger

    Defense contractor Gresham Worldwide Inc. and special-purpose acquisition company Ault Disruptive Technologies Corp. agreed Monday to merge in a deal that values Gresham at $83 million and enlarges the company's profile, steered by two law firms.

  • June 24, 2024

    CSG Ups Purchase Price For Vista's Kinetic Group To $2B

    Marking the latest update in its bid to scoop up Vista Outdoor Inc.'s various businesses, Czech defense company Czechoslovak Group AS has raised its proposal to purchase Vista's sporting products division to $2 billion, a $90 million increase over the original price lobbed by the defense company back in October.

  • June 24, 2024

    Cooley-Led Therapy Developer Alumis Aims For $300M IPO

    Venture-backed drug developer Alumis Inc. launched plans on Monday for an estimated $300 million initial public offering, guided by Cooley LLP and underwriters' counsel Latham & Watkins LLP, joining an active pipeline of IPO prospects this week.

  • June 24, 2024

    Freshfields-Led Packager Sonoco Buying Eviosys For $3.9B

    Hartsville, South Carolina-based packaging firm Sonoco Products Co. said Monday it has agreed to buy European food can maker Eviosys from private equity firm KPS Capital Partners for about $3.9 billion.

  • June 24, 2024

    CMS-Led Aareal Bank To Sell Unit To TPG For €3.9B

    German lender Aareal Bank AG and investment company Advent International said Monday that they have agreed to sell a property management and maintenance software company to U.S. private equity firm TPG and Canada's CDPQ for approximately €3.9 billion ($4.2 billion).

  • June 21, 2024

    Delaware's Corporate Law Debate Left 'Blood On The Floor'

    Delaware lawmakers have settled, for now, a rare, bitter, national fight over director rights to cede some powers to big stockholders, but the "Moelis" debate has also boosted friction between board and stockholder camps, with one retired law professor saying underlying litigation had left "blood on the floor."

  • June 21, 2024

    Treasury Unveils Rules Curtailing Outbound Tech Investments

    The U.S. Department of the Treasury on Friday proposed rules to implement President Joe Biden's executive order aimed at restricting American investments in certain technologies that China is developing, including artificial intelligence systems, that are deemed threats to national security.

  • June 21, 2024

    8 Firms To Lead 4 IPOs Totaling $806M As Action Heats Up

    Eight law firms are slated to guide four initial public offerings estimated to raise a combined $806 million during the week of June 24, potentially closing a slow month for new listings with a bang.

  • June 21, 2024

    Kirkland-Led KKR To Buy Entertainment Biz Superstruct

    Private equity giant KKR, advised by Kirkland & Ellis LLP, on Friday announced plans to buy London-based Superstruct Entertainment from White & Case LLP-led Providence Equity Partners.

  • June 21, 2024

    3 Firms Build $540M Take-Private Sale Of Healthcare Data Biz

    Digital health company Sharecare Inc. on Friday announced that it has agreed to be bought by healthcare-focused private equity firm Altaris LLC in a $540 million take-private deal built by three law firms.

  • June 21, 2024

    Taxation With Representation: Travers Smith, Potamitis Vekris

    In this week's Taxation With Representation, RSK Group Ltd. gets a £500 million ($632 million) investment, Boston Scientific Corp. acquires Silk Road Medical Inc., Masdar takes a part of Terna Energy SA, and Tate & Lyle PLC buys CP Kelco from JM Huber Corp.

  • June 21, 2024

    Swiss-Dutch Pharma Biz Raises €80M For Cancer Drug Work

    iOnctura BV has raised €80 million ($85.5 million) in a new round of financing, which the Swiss-Dutch biopharmaceutical company will use to continue developing two anti-cancer drugs.

  • June 20, 2024

    Chancery Preserves Most Of Hertz Shareholder Buyback Suit

    Several Hertz directors who authorized $4 billion in stock buybacks in 2022 that vaulted a private equity-based shareholder into a controlling position will have to face claims in Delaware's Court of Chancery that they breached their fiduciary duties to the company.

  • June 20, 2024

    Cheer Parents Get Initial OK For $82.5M Varsity Brands Deal

    A Tennessee federal judge is giving the preliminary go-ahead to an $82.5 million settlement between a class of cheer parents and a group of the biggest players in the American cheer industry, agreeing that the deal appears to be fair and equitable.

  • June 20, 2024

    6 Firms Build Hydrogen Developer's $1.6B SPAC Merger

    Chinese hydrogen solutions company United Hydrogen Group Inc. on Thursday announced plans to go public through a merger with special-purpose acquisition company Aimei Health Technology Co. Ltd. in a deal that values the combined business at roughly $1.6 billion on a pro forma basis and was built by six law firms.

  • June 20, 2024

    Assa Abloy Says Deal Monitor Going Too Far

    Assa Abloy has told a D.C. federal court that a monitoring trustee installed after the company settled a government merger challenge is taking things too far by trying to conduct a five-year, industry-wide study that's on pace to cost the company $20 million.

  • June 20, 2024

    Deals Rumor Mill: Carlyle-KKR, Didi IPO, Open AI

    The deals rumor mill is often overflowing with transactions that are reportedly close to being signed, so it can be hard to know which ones to stay on top of.

  • June 20, 2024

    AssetMark To Buy $12B In Assets From Financial Services Biz

    Davis Polk & Wardwell LLP-advised wealth management platform AssetMark Inc. on Thursday announced a strategic partnership with Morningstar Wealth under which AssetMark will acquire roughly $12 billion in assets from the Morningstar Wealth Turnkey Asset Management Platform.

  • June 20, 2024

    Skadden, Weil Guide Honeywell's $1.9B Defense Tech Co. Buy

    Honeywell International Inc. said Thursday it plans to acquire defense electronics company CAES Systems Holdings LLC in a $1.9 billion all-cash deal guided by Skadden Arps Slate Meagher & Flom LLP and Weil Gotshal & Manges LLP that Honeywell said would enhance its radio frequency technology offerings for military aircraft, missiles and drones.

  • June 20, 2024

    Dickinson Wright Brings On McDermott, Bell Nunnally Attys

    Dickinson Wright PLLC added a pair of new members who include a commercial finance and real estate attorney from Bell Nunnally & Martin LLP based in Austin, Texas, and a tax and incentives attorney from McDermott Will & Emery LLP in Fort Lauderdale, Florida.

  • June 20, 2024

    A&O Shearman-Led Bridgepoint Makes £626M Offer For Rival

    Alpha Financial Markets Consulting Ltd. said Thursday that a company controlled by asset fund manager Bridgepoint Advisers is weighing a £578 million ($734 million) takeover and that it would recommend that to shareholders if it makes a formal bid.

  • June 18, 2024

    4 Firms Steer Family-Owned Baker Europastry's IPO Plans

    Family-owned frozen bakery products giant Europastry S.A. said Tuesday that it plans to raise €225 million ($241.7 million) in fresh capital through an initial public offering on Spanish stock exchanges guided by four law firms, adding to a recent uptick in European IPOs.

Expert Analysis

  • Unlocking Value In Carve-Out M&A Transactions

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    Some of the largest mergers and acquisitions in 2023 were carve-out transactions, and despite their unique intricacies and challenges, these transactions offer both buyers and sellers the opportunity to generate outsized returns in an otherwise vigorously competitive landscape, when carefully planned and diligently executed, say Kevin Crews and Rami Totari at Kirkland.

  • Attorneys, Law Schools Must Adapt To New Era Of Evidence

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    Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.

  • Why Public Cos. Should Also Comply With SEC's Names Rule

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    While the U.S. Securities and Exchange Commission's updated Names Rule specifically clarifies that funds must consider ESG factors in their investment strategies if their names so imply, public companies should also heed the message and conduct business consistent with the way they market or advertise themselves, says Spencer Feldman at Olshan Frome.

  • Series

    ESG Around The World: The UK

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    Following Brexit, the U.K. has adopted a different approach to regulating environmental, social and governance factors from the European Union — an approach that focuses on climate disclosures by U.K.-regulated entities, while steering clear of the more ambitious objectives pursued by the EU, say attorneys at Dechert.

  • Best Practices For Cos. Navigating US-China Investigations

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    Given recent enforcement trends and the broad jurisdictional reach of U.S. laws, companies with operations in China must enhance their compliance programs in order to balance new corporate enforcement expectations with Chinese data protection and privacy requirements, say attorneys at Paul Hastings.

  • Tips For Litigating Against Pro Se Parties In Complex Disputes

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    Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.

  • Planning Compliance For Updated FinCEN Reporting Rules

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    Although the Financial Crimes Enforcement Network's reporting deadline for beneficial ownership information may seem far off, companies should act now to determine which corporate entities must report and what information must be collected, given the potential time, resources and legal questions involved, say attorneys at Crowell & Moring.

  • Pro Bono Work Is Powerful Self-Help For Attorneys

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    Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.

  • Series

    Playing In A Rock Cover Band Makes Me A Better Lawyer

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    Performing in a classic rock cover band has driven me to hone several skills — including focus, organization and networking — that have benefited my professional development, demonstrating that taking time to follow your muse outside of work can be a boon to your career, says Michael Gambro at Cadwalader.

  • Series

    The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'

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    The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.

  • Calif. GHG Disclosure Law Will Affect Companies Worldwide

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    California's Climate Corporate Data Accountability Act, which will require comprehensive greenhouse gas emissions disclosures from large companies operating in the state, will mean compliance challenges for a wide range of industries, nationally and globally, as the law's requirements will ultimately trickle out and down, say attorneys at Brownstein Hyatt.

  • How To Navigate The FTC's New Private Equity Frontier

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    The Federal Trade Commission's recent district court complaint against an anesthesia firm and its private equity partner tests key bounds of the agency's stand-alone authority, and defense strategies can include challenges to both the geographic and the service market fronts, say attorneys at Baker McKenzie.

  • Opinion

    Newman Suspension Shows Need For Judicial Reform

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    The recent suspension of U.S. Circuit Judge Pauline Newman following her alleged refusal to participate in a disability inquiry reveals the need for judicial misconduct reforms to ensure that judges step down when they can no longer serve effectively, says Aliza Shatzman at The Legal Accountability Project.

  • Series

    ESG Around The World: Japan

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    Japan is witnessing rapid developments in environmental, social and corporate governance policies by making efforts to adopt a soft law approach, which has been effective in encouraging companies to embrace ESG practices and address the diversity of boards of directors, say Akira Karasawa and Landry Guesdon at Iwata Godo.

  • How And Why Your Firm Should Implement Fixed-Fee Billing

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    Amid rising burnout in the legal industry and client efforts to curtail spending, pivoting to a fixed-fee billing model may improve client-attorney relationships and offer lawyers financial, logistical and stress relief — while still maintaining profit margins, say Kevin Henderson and Eric Pacifici at SMB Law Group.

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