Private Equity

  • May 24, 2024

    Investor CriteriaCaixa Buys Construction Biz Stake For €983M

    Spanish investor CriteriaCaixa said on Friday that it has purchased a 9.4% stake in construction and infrastructure firm ACS for €983 million ($1.1 billion), boosting its portfolio of investments.

  • May 24, 2024

    Big Win For Activist As Full Gildan Activewear Board Resigns

    The entire board of apparel company Gildan Activewear Inc., including its president and CEO Vince Tyra, have all resigned from the company after months of facing pressure from activist investor Browning West.

  • May 24, 2024

    PE Firm, Pharma Cos. Overturn £31M Drug Price-Fixing Fines

    Private equity group Cinven and three pharmaceutical companies have successfully overturned a decision by the U.K. antitrust regulator to fine them £31 million ($39 million) for allegedly fixing the price of drugs sold to the National Health Service.

  • May 23, 2024

    Skadden-Led Hg Buys Risk Platform Co. AuditBoard For $3B

    Cooley LLP-advised AuditBoard Inc. on Thursday announced that it has agreed to be bought by European software and services business investor Hg Capital, guided by Skadden Arps Slate Meagher & Flom LLP, in a deal valued at over $3 billion.

  • May 23, 2024

    'New' Facts Don't Permit Do-Over, Kraft-Heinz Tells Chancery

    An institutional shareholder of The Kraft-Heinz Co. is not entitled to a "do-over" on an insider trading lawsuit that Delaware's Court of Chancery dismissed in 2021 because the supposed "new evidence" it offers isn't actually new and wouldn't have made any difference in the case, the company said Thursday.

  • May 23, 2024

    Enforcers Want To Know Where Roll-Ups Are Happening

    The Federal Trade Commission and U.S. Department of Justice are asking for help finding industries where serial acquisitions and roll-up strategies are being used, building on a probe of the healthcare sector launched earlier this year.

  • May 23, 2024

    NY Top Court Revives FanDuel Investors Suit

    New York's top appeals court on Thursday revived a suit brought by FanDuel investors who claim they were deprived of profits from a merger, disagreeing with a lower court's interpretation of Scottish law.

  • May 23, 2024

    Merck To Pay $600M For KKR-Backed Life Sciences Biz

    Menlo Park, California-based Gamma Biosciences said Thursday it has agreed to sell its operating company Mirus Bio for $600 million in cash to Merck KGaA, inking the deal under the guidance of Sidley Austin LLP. 

  • May 23, 2024

    Deals Rumor Mill: NY Yankees, Abu Dhabi Bank, Int'l Paper

    Yankees’ minority stake could hit the market, First Abu Dhabi could pay $8 billion for a stake in an Istanbul-based lender, and Suzano could sweeten its $15 billion bid for International Paper. Here, Law360 breaks down the notable deal rumors from the past week.

  • May 23, 2024

    Wow Such Basic: Justices Back Crypto Fans In Dogecoin Duel

    It's up to judges, not arbitrators, to figure out whether contracts between businesses and consumers have subtly superseded earlier agreements to hash out disputes in arbitration rather than litigation, the U.S. Supreme Court ruled Thursday.

  • May 23, 2024

    Linklaters Leads Tate & Lyle To Exit US JV For $350M

    Food producer Tate & Lyle said Thursday that it has agreed to sell its remaining stake in its ingredients business in the Americas to U.S. investment firm KPS Capital Partners for $350 million in a deal guided by Linklaters LLP.

  • May 23, 2024

    Hargreaves Lansdown Snubs £4.7B Bid From CVC, Abu Dhabi

    The board of Hargreaves Lansdown said Thursday that it has rejected a proposed £4.7 billion ($6 billion) takeover offer from a consortium of private equity companies, including CVC and the sovereign wealth fund of Abu Dhabi.

  • May 22, 2024

    Activist Investor Must Face Exxon's Suit Over Proxy Proposal

    A Texas federal judge Wednesday refused to dismiss an Exxon Mobil Corp. lawsuit against a U.S.-based activist investor over a now-withdrawn shareholder proposal concerning climate change, saying it isn't certain they won't refile their proposal in the future.

  • May 22, 2024

    Skadden, Latham Lead Specialty Insurer's Upsized $128M IPO

    Private equity-backed insurer Bowhead Specialty Holdings Inc. on Wednesday priced an upsized $128 million initial public offering above its planned price range, represented by Skadden Arps Slate Meagher & Flom LLP and underwriters' counsel Latham & Watkin LLP, marking the first sizable insurance IPO of 2024.

  • May 22, 2024

    Paul Hastings Leads Kayne Anderson Unit's $100M IPO

    An affiliate of Kayne Anderson Capital Advisors has announced it raised roughly $100 million in an initial public offering, with Paul Hastings LLP advising the company and Ropes & Gray LLP representing the underwriters, joining a handful of similar specialty investment vehicles that have gone public in 2024.

  • May 22, 2024

    Justices' CFPB Alliance May Save SEC Courts, Not Chevron

    A four-justice concurrence to the U.S. Supreme Court's decision upholding the Consumer Financial Protection Bureau's unique funding scheme last week carries implications for other cases pending before the court that challenge the so-called administrative state, or the permanent cadre of regulatory agencies and career government enforcers who hold sway over vast swaths of American economic life.

  • May 22, 2024

    Archegos Exec Says Founder Didn't Direct Him To Lie

    The former director of risk management for Archegos told a Manhattan federal jury on Wednesday that the collapsed hedge fund's founder never instructed him to lie to banks in order to finance trading activity, as a defense lawyer sought to poke holes in the government's fraud case.

  • May 22, 2024

    Cleaning Products Maker Supply Source Files For Ch. 11

    Cleaning products company Supply Source Enterprises has told a Delaware bankruptcy court that it is seeking a sale in Chapter 11 to deal with $180 million in debt after overestimating the post-pandemic market for cleaning products.

  • May 22, 2024

    Oaktree Assumes Inter Milan Ownership After Missed Payment

    Oaktree Capital Management LP has taken over ownership of FC Internazionale Milano after the soccer club failed to fully repay a three-year loan from Oaktree that matured this month, leaving a balance of €395m ($428.4 million).

  • May 22, 2024

    Chancery Keeps RedBird-Brookfield Dispute Stay In Place

    A Delaware vice chancellor declined Wednesday to rule from the bench on a preliminary injunction sought by Redbird Capital Partners in a dispute over a Brookfield Infrastructure Partners claim for a $150 million escrow included in its $5.7 billion purchase of RedBird data center projects last year.

  • May 22, 2024

    RedBird, Weatherford Capital Launch College Sports Platform

    Two private investment firms, New York-based RedBird Capital and Tampa-based Weatherford Capital, on Wednesday unveiled plans to jointly launch an investment fund focused on collegiate sports that will give public and private university athletic departments dedicated capital and a business-building platform.

  • May 22, 2024

    Dallas-Based PE Firm Clinches $285M Fund Above Target

    Dallas-based private equity shop Riata Capital Group on Wednesday announced that it clinched its second private equity fund above target with $285 million in tow.

  • May 22, 2024

    Greenberg-Led SPAC To Buy Safety Biz For $1.85B, Quit LSE

    Admiral said on Wednesday that it has agreed to buy industry safety company Acuren for $1.85 billion, as the blank-check business seeks a slice of the growing and resilient infrastructure inspection sector.

  • May 21, 2024

    LoanDepot's $3.5M Deal In IPO Disclosure Suit Gets Final OK

    A California federal judge has granted final approval to LoanDepot's $3.5 million settlement in a suit alleging it misled investors leading up to the company's initial public offering, despite a shareholder's objection that the settlement is insufficient.

  • May 21, 2024

    PE Firms Close Separate Funds With Nearly $1.3B Total In Tow

    Winston & Strawn LLP-advised private equity shop Paceline Equity Partners LLC and Kirkland & Ellis LLP-advised private equity firm Eir Partners on Tuesday separately announced that they have clinched funds totaling nearly $1.3 billion combined, with the former's fund focusing on corporate debt and real assets and the latter's targeting healthcare technology investments.

Expert Analysis

  • What R&W Insurance Access Means For Small-Cap M&A

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    As a slowdown in mergers and acquisitions has increased insurer appetite for underwriting small-cap transactions, buyers of small and midsize enterprises stand to benefit from easier access to representations and warranties insurance, which can add protection and reassurance for all parties involved in a deal, say Caroline Thee and Ewelina Mikocewicz at Taft Stettinius.

  • Considerations For Lawyer Witnesses After FTX Trial

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    Sam Bankman-Fried's recent trial testimony about his lawyers' involvement in FTX's business highlights the need for attorney-witnesses to understand privilege issues in order to avoid costly discovery disputes and, potentially, uncover critical evidence an adversary might seek to conceal, says Lawrence Bluestone at Genova Burns.

  • Employee Experience Strategy Can Boost Law Firm Success

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    Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.

  • Series

    Competing In Triathlons Makes Me A Better Lawyer

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    While practicing law and competing in long-distance triathlons can make work and life feel unbalanced at times, participating in the sport has revealed important lessons about versatility, self-care and perseverance that apply to the office as much as they do the racecourse, says Laura Heusel at Butler Snow.

  • Where Justices Stand On Chevron Doctrine Post-Argument

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    Following recent oral argument at the U.S. Supreme Court, at least four justices appear to be in favor of overturning the long-standing Chevron deference, and three justices seem ready to uphold it, which means the ultimate decision may rest on Chief Justice John Roberts' vote, say Wayne D'Angelo and Zachary Lee at Kelley Drye.

  • Perspectives

    6 Practice Pointers For Pro Bono Immigration Practice

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    An attorney taking on their first pro bono immigration matter may find the law and procedures beguiling, but understanding key deadlines, the significance of individual immigration judges' rules and specialized aspects of the practice can help avoid common missteps, says Steven Malm at Haynes Boone.

  • Series

    ESG Around The World: Canada

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    In Canada, multiple statutes, regulations, common law and industry guidance address environmental, social and governance considerations, with debate over ESG in the business realm potentially growing on the horizon, say attorneys at Blakes.

  • Lessons From Country Singer's Personal Service Saga

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    Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.

  • Inside Del. Determinations Of Specific Performance In M&A

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    Delaware M&A rulings, including several from the end of 2023, shed light on the facts that courts may consider when determining whether a party to a transaction is entitled to specific performance, say attorneys at White & Case and Odeko.

  • After Watershed Year, Clean Hydrogen Faces New Challenges

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    Clean hydrogen is on the verge of taking off — but over the course of 2023, it became clear that the regulatory landscape will be more stringent than expected, and the cost and timing of major projects will depend on a number of key developments anticipated in 2024, say attorneys at Weil.

  • A Potential Proactive Tool For Public-Private Joint Ventures

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    In the current environment of heightened antitrust enforcement, the National Cooperative Research and Production Act seems tailor-made for the collaborative work among competitors encouraged by the Biden administration's infrastructure and green energy funding legislation, say Jeetander Dulani and Susan Ebner at Stinson.

  • FERC Actions Signal Concern Over Investors' Utility Stakes

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    Two recent orders and a notice of inquiry from the Federal Energy Regulatory Commission on the subject of whether large investors are asserting control of public utilities signal increasing regulatory scrutiny of the investment community's influence over the electric power industry, say attorneys at Day Pitney.

  • 3 Areas Of Focus In Congressional Crosshairs This Year

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    Companies must prepare for Congress to build on its 2023 oversight priorities this year, continuing its vigorous inquiries into Chinese company-related investments, workplace safety and labor relations issues, and generative artificial intelligence, say attorneys at Morgan Lewis.

  • 10 Global Antitrust Trends To Anticipate In 2024

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    Proactive navigation of the antitrust enforcement environment remains crucial this year as legal policy and tools evolve to meet intensifying global economic complexity, including geopolitical tensions, trade realignment, market volatility and inflation, say attorneys at Freshfields.

  • NY CRE Lenders Need Clarity On Foreclosure Standing

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    Recent contradictory New York case law regarding issues of standing in commercial real estate litigation creates confusion for borrowers and lenders alike, and should be addressed by courts in advance of the anticipated onslaught of commercial mortgage-backed securities foreclosures, say Christopher Gorman and John Muldoon at Rosenberg & Estis.

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