Private Equity

  • June 17, 2024

    Drugmaker, PE Investor Sued In Del. Over 'Unfair' Deal Terms

    Clinical-stage biotechnology firm Omega Therapeutics' board entered into an "unfair" agreement to develop a new drug with the company's controlling private equity stockholder that was heavily tilted in favor of the majority equity holder and Omega insiders, an investor alleged in a lawsuit in Delaware's Chancery Court.

  • June 17, 2024

    Primo Water, BlueTriton All-Stock Merger Creates Water Giant

    Primo Water Corp., the parent company of popular water brands such as Alhambra and Crystal Springs, on Monday announced plans to merge with the parent company of water brands Poland Spring and Arrowhead, BlueTriton Brands Inc., in an all-stock deal built by five law firms that is meant to create a North American water giant.

  • June 17, 2024

    Ares, Searchlight-Led Group Plugs £500M Into RSK Group

    British sustainability company RSK Group Ltd., advised by Travers Smith LLP, on Monday announced that it is set to receive a £500 million ($634.5 million) preferred equity investment from a group led by private equity firms Willkie Farr & Gallagher LLP-led Searchlight Capital Partners LP and Dechert LLP-led Ares Management Corp., which will be used to fund growth initiatives.

  • June 17, 2024

    Hertz Warrant Holder Sues In Chancery For Contract Breach

    Two investment affiliates of Discovery Capital Management LP have sued Hertz Global Holdings Inc. in Delaware's Court of Chancery, alleging willful failure to redeem warrants issued in 2021 as part of the company's Chapter 11 and demanding at least $187 million plus interest.

  • June 17, 2024

    Catching Up With Delaware's Chancery Court

    Proposed amendments to Delaware's General Corporation Law that were prompted by several recent Chancery Court rulings sailed through the state Senate last week despite loud opposition from corporate law professors and other Chancery Court watchers, and Tesla shareholders filed two new suits against CEO Elon Musk. 

  • June 17, 2024

    Structured Finance Pros Rejoin King & Spalding From Milbank

    Two attorneys from Milbank LLP are returning to King & Spalding LLP in New York just over a year after they departed the firm.

  • June 17, 2024

    King & Spalding Repping IQVentures On $504M Aaron's Buy

    King & Spalding LLP-repped IQVentures Holdings has agreed to purchase Atlanta-based lease-to-own provider The Aaron's Co. Inc., represented by Jones Day, at an enterprise value of about $504 million, Aaron's said in a Monday statement.

  • June 17, 2024

    Feds Take Hard Line On Tycoon's Pilots After He Goes Free

    Manhattan federal prosecutors asked a sentencing judge to consider aggravating circumstances for two pilots who allegedly traded on stock tips from U.K. billionaire Joe Lewis, despite not seeking a prison term for the private equity honcho and former soccer club owner.

  • June 17, 2024

    Morgan Lewis Adds NY Private Funds Atty From Schulte Roth

    Morgan Lewis & Bockius LLP said Monday that it is strengthening its global private investment funds practice by hiring a partner from Schulte Roth & Zabel LLP.

  • June 14, 2024

    SEC Fines Pa. Adviser In Marketing Rule Action

    A Pennsylvania investment adviser has agreed to pay $100,000 as part of an agreement to resolve U.S. Securities and Exchange Commission allegations it broke the regulator's rules barring misleading advertising about fund performance.

  • June 14, 2024

    Justices Are Asked To Wade Into Blood Pressure Drug IP Fight

    United Therapeutics is taking its patent case seeking to stop a rival from selling a drug that competes with its blockbuster treatment for high blood pressure to the U.S. Supreme Court.

  • June 14, 2024

    Brazil Telecom Tower Investor Sues For Delaware Litigation

    A Mexican investor with a small equity position in a Delaware limited partnership that builds and operates telecommunications towers in Brazil sued the partnership in Delaware's Court of Chancery Friday for injunctive relief, seeking to ensure that any litigation with the partnership or its affiliates takes place in the First State and not Brazil.

  • June 14, 2024

    Burford Bound To Sysco And Pilgrim's Unsigned Chicken Deal

    An Illinois federal judge on Friday rejected a Burford subsidiary's bid to block a global protein price-fixing settlement that Pilgrim's Pride and Sysco memorialized through email but never signed on paper, saying it's clear the parties reached a material agreement.

  • June 14, 2024

    Sidley Taps Cooley Atty To Lead VC Fund Formation Team

    Sidley Austin LLP has announced the hiring of a former Cooley LLP partner in Palo Alto, California, to lead its newly formalized venture capital fund formation practice as the firm looks to expand its existing bench in that area.

  • June 14, 2024

    Australian Biotech Firm Telix Pharmaceuticals Pulls US IPO

    Australian biotechnology firm Telix Pharmaceuticals Ltd., whose U.S. shares were set to debut trading on Friday, canceled plans for an estimated $202 million U.S. initial public offering, citing unfavorable market conditions.

  • June 14, 2024

    Biotech Clinches Latest Funding Round With $55M In Tow

    Biotechnology company Enveda Biosciences on Friday announced that it has closed its most-recent financing round after raising $55 million from investors, bringing the Boulder, Colorado-based company's total capital fundraising to $230 million.

  • June 14, 2024

    All The World's A Stage For Tony-Nominated Dechert Co-Chair

    Mark Thierfelder is not only a Dechert LLP co-chair and partner; he’s also a Tony-nominated Broadway producer up for an award this June 16. Here, Law360 Pulse talks to Thierfelder on how he balances his legal work with his creative pursuits.

  • June 14, 2024

    EQT Extends £2B Offer Deadline For Video Gaming Biz

    Keywords Studios said Friday that Swiss private equity firm EQT has been granted extra time to make a £2 billion ($2.5 billion) offer after the Irish gaming services group indicated that it could back the deal.

  • June 13, 2024

    Cooley-Led Diagnostics Firm Tempus AI Raises $411M IPO

    Artificial intelligence-powered diagnostics company Tempus AI inc. priced a $410.7 million initial public offering Thursday at the top of its range, represented by Cooley LLP and underwriters counsel Davis Polk & Wardwell LLP. 

  • June 13, 2024

    9th Circ. Doubts SPAC Investors Can Sue Lucid Over Merger

    A Ninth Circuit panel appeared skeptical Thursday of investors' bid to revive a proposed class action alleging that Lucid duped them into buying stock in a special-purpose acquisition company ahead of the electric-vehicle maker's $11.75 billion merger, with two of three judges doubting that the SPAC investors have standing to sue.

  • June 13, 2024

    SEC's Gensler Rethinking AI Advising, Crypto Custody Regs

    U.S. Securities and Exchange Commission Chair Gary Gensler told senators Thursday that the agency could rewrite a pair of proposals governing broker-dealers' use of artificial intelligence and the handling of customers' cryptocurrency assets in the wake of "robust" feedback from both supporters and naysayers.

  • June 13, 2024

    Immigrant Bond Co. Says Sale Complied With $811M Order

    An immigrant bond company staring down an $811 million judgment for predatory lending practices is urging a Virginia federal court not to sanction it over its recent sale, saying the transaction complied with the judgment's restrictions on its operations.

  • June 13, 2024

    Data Center Developer Secures Upsized $9.2B Investment

    Hyperscale data center campus company Vantage Data Centers said it has secured a $9.2 billion equity investment from DigitalBridge Group Inc. and Silver Lake, which is nearly $3 billion more than anticipated when the investment was first announced back in January.

  • June 13, 2024

    Blackstone's $10B AIR Buy Gets Nod From Top 2 Proxy Firms

    Denver-based Apartment Income REIT Corp.'s shareholders have recommendations from the two leading proxy advisory firms to approve an agreement to sell off the real estate investment trust to private equity giant Blackstone for $10 billion, the company announced June 13. 

  • June 13, 2024

    Deals Rumor Mill: Paramount, Cineworld, Kraken IPO

    Media executive Edgar Bronfman Jr. has expressed interest in buying the company that controls Paramount Global, British cinema giant Cineworld may sell certain U.K. operations, and cryptocurrency exchange Kraken is considering a funding round of about $100 million before a potential initial public offering. Here, Law360 breaks down these and other notable deal rumors from the past week.

Expert Analysis

  • PE-Healthcare Mergers Should Prepare For Challenges

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    State and federal regulators are increasingly imposing new requirements on healthcare transactions involving private equity partners, with mergers that would have drawn little scrutiny a few years ago now requiring a multijurisdictional risk analysis during the deal formation process, say attorneys at Stinson.

  • Don't Use The Same Template For Every Client Alert

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    As the old marketing adage goes, consistency is key, but law firm style guides need consistency that contemplates variety when it comes to client alert formats, allowing attorneys to tailor alerts to best fit the audience and subject matter, says Jessica Kaplan at Legally Penned.

  • Series

    Walking With My Dog Makes Me A Better Lawyer

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    Thanks to my dog Birdie, I've learned that carving out an activity different from the practice of law — like daily outdoor walks that allow you to interact with new people — can contribute to professional success by boosting creativity and mental acuity, as well as expanding your social network, says Sarah Petrie at the Massachusetts Attorney General’s Office.

  • Navigating SPAC Market Challenges For Microcap Issuers

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    For microcap issuers, the special-purpose acquisition vehicle market tells a cautionary tale in which few targets attain the advantages they seek, and important considerations for companies with market capitalization of under $300 million include negotiating costs and expenses upfront to avoid becoming saddled with debt, say attorneys at Lucosky Brookman.

  • Think Like A Lawyer: Follow The Iron Rule Of Trial Logic

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    Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.

  • Banks Have Won Syndicated Loan Battle, But Not The War

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    Though the U.S. Supreme Court's recent denial of certiorari in Kirschner v. JPMorgan preserves the status quo that syndicated loans are not securities, the U.S. Securities and Exchange Commission's discomfort suggests that the underlying issues have not been fully resolved, say attorneys at Crowell & Moring.

  • The Art Of Asking: Leveraging Your Contacts For Referrals

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    Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.

  • SEC Off-Channel Comms Action Hints At Future Enforcement

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    Although the U.S. Securities and Exchange Commission’s recent enforcement action against Senvest does not shed light on how the agency will calibrate penalties related to off-channel communications violations, it does suggest that we may see more cases against standalone investment advisers, say attorneys at Sidley.

  • Series

    Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

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    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • What 3rd Circ. Trust Ruling Means For Securitization Market

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    Mercedes Tunstall and Michael Gambro at Cadwalader break down the Third Circuit's March decision in Consumer Financial Protection Bureau v. National Collegiate Master Student Loan Trust, as well as predict next steps in the litigation and the implications of the decision for servicers and the securitization industry as a whole.

  • Behind Indiana's Broad New Healthcare Transactions Law

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    The high materiality threshold in Indiana's recently passed healthcare transaction law, coupled with the inclusion of private equity in its definition of healthcare entities, makes it one of the broadest state review regulations to date, say attorneys at DLA Piper.

  • 10 Tips For ESG Disclosure Compliance In Private Funds

    Excerpt from Practical Guidance
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    As regulators increase scrutiny of misleading claims about environmental, social and governance investments, private fund sponsors should consider several practical tips for communicating accurately with potential investors, drafting comprehensive disclosures and establishing internal policies that can keep pace with evolving compliance requirements, says Jonathan Rash at Ropes & Gray.

  • Highlights From The 2024 ABA Antitrust Spring Meeting

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    U.S. merger enforcement and cartels figured heavily in this year's American Bar Association spring antitrust meeting, where one key takeaway included news that the Federal Trade Commission's anticipated changes to the Hart-Scott-Rodino form may be less dramatic than many originally feared, say attorneys at Freshfields.

  • What FERC's Disclosure Demands Mean For Cos., Investors

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    Two recent Federal Energy Regulatory Commission orders reflect the commission's increasingly meticulous approach to reviewing corporate structures in applications for approval of proposed consolidations, acquisitions or changes in control — putting the onus on the regulated community to track and comply with ever-more-burdensome disclosure requirements, say attorneys at Willkie.

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