Private Equity

  • December 17, 2024

    Slaughter And May, Forsters Steer £6B MoD Buy From PE Unit

    The U.K. government said Tuesday it has agreed to acquire 36,000 military homes from property manager Annington for almost £6 billion ($7.6 billion), to settle legal proceedings and make long-term savings for taxpayers.

  • December 16, 2024

    BNY Scores Exit In Mutual Fund Conflict Of Interest Suit

    A Pennsylvania federal magistrate judge on Monday granted The Bank of New York Mellon's bid to toss a proposed class action claiming that it failed to disclose conflicts of interest when funneling client assets into mutual funds and other investment vehicles that favored the bank, ruling that the claims are preempted by the Securities Litigation Uniform Standards Act.

  • December 16, 2024

    SEC Wants Out Of PE Firm's 'Fishing Expedition' Suit

    The U.S. Securities and Exchange Commission has asked a Texas federal judge to toss a suit brought by a real estate-focused private equity fund alleging the SEC subjected it to an unconstitutional "fishing expedition" outside its regulatory purview, arguing that sovereign immunity bars the firm's claims and that the court has no jurisdiction over the case.

  • December 16, 2024

    Honeywell May Split Aerospace Biz Amid Activist Pressure

    Honeywell International Inc. on Monday said it is mulling a separation of its aerospace business, after activist investment firm Elliott Investment Management LP in November pushed for the industrial conglomerate to separate itself into two independent companies.

  • December 16, 2024

    3 Firms Guide Goldman Sachs On Buying Synthon Stake

    The alternative investment arm of Goldman Sachs said Monday that it plans to buy a majority stake in the drugmaker Synthon from British investment firm BC Partners LLP, in a deal that values the Dutch company at a reported €2 billion ($2.1 billion).

  • December 16, 2024

    Gibson Dunn Guides Vera Wang In Sale Of IP To WHP Global

    New York-based brand management firm WHP Global, advised by Kirkland & Ellis LLP and Pryor Cashman LLP, on Monday announced that it has agreed to buy all the intellectual property of Gibson Dunn & Crutcher LLP-advised luxury designer brand Vera Wang.

  • December 16, 2024

    Justices Won't Hear 3rd Circ. CFPB Student Loan Trust Case

    The U.S. Supreme Court said Monday that it would leave in place a lower court decision allowing the Consumer Financial Protection Bureau to sue securitization trusts over their servicers' treatment of borrowers, declining to take up a challenge to the scope of the agency's enforcement authority.

  • December 13, 2024

    OpenAI Slams Musk's 'Evidence-Free' Bid To Block For-Profit

    OpenAI urged a California federal judge Friday to reject Elon Musk's bid to block the artificial intelligence research organization from transitioning into a for-profit enterprise, scoffing at Musk's assertions of anticompetitive practices and arguing that the injunctive motion is "just another evidence-free effort to harass a competitor."

  • December 13, 2024

    SEC's Corporation Finance Director Gerding To Step Down

    The U.S. Securities and Exchange Commission announced Friday that the head of its Division of Corporation Finance, who oversaw the finalization of controversial new rules covering environmental disclosures and share repurchases, will leave the agency at the end of the year.

  • December 13, 2024

    $15M Deal To End Hemisphere Media Merger Suit OK'd In Del.

    Former public stockholders of Hemisphere Media Group Inc. secured a $15 million Delaware Court of Chancery settlement Friday for claims that former controlling investor Searchlight Capital Partners LP took the media business private in a two-step deal that undervalued the company's remaining shares.

  • December 13, 2024

    Auto Mogul Must Turn Over Note Info In $127M Collection Row

    An auto mogul, his living trust and one of his companies must turn over documents related to a $20 million payment on promissory notes as part of marathon litigation related to Alter Domus LLC's attempts to collect on a $127 million judgment, a Michigan federal judge has ruled.

  • December 13, 2024

    Retirees Say Lumber Co.'s $1.5B Pension Transfer Upped Risk

    A wood product manufacturer violated federal benefits law when it transferred $1.5 billion of pension obligations to a private equity-backed insurance company, substantially increasing the risk that retirees will see their benefits slashed, according to a proposed class action filed in federal court.

  • December 13, 2024

    Off The Bench: PE Buys In On NFL, WWE Abuse Suit Back On

    In this week's Off The Bench, two teams usher in a new era for the NFL by bringing in private equity investors, a suit accusing the WWE and Vince McMahon of sexual abuse and trafficking picks back up while a federal investigation continues, and a private equity giant and NHL owner passes away.

  • December 13, 2024

    Taxation With Representation: Kirkland, Davis Polk, Wachtell

    In this week's Taxation With Representation, Google and TPG Rise Climate partner with Intersect Power, Gen Digital Inc. acquires MoneyLion Inc., Patient Square Capital acquires Patterson Companies Inc., and the Buffalo Bills and Miami Dolphins sell minority ownership shares to private equity firms.

  • December 13, 2024

    3 Firms Guide Pair Of SPAC Listings Totaling $410M

    Two special purpose acquisition companies began trading on Friday after completing initial public offerings that raised a combined $410 million, under guidance from three law firms, targeting industries spanning cybersecurity, artificial intelligence and financial technology.

  • December 13, 2024

    'Buy Now, Pay Later' Co. Affirm Inks $4B Deal With PE Firm

    Payment network Affirm Holdings Inc., advised by Mayer Brown LLP, on Friday announced that it has entered into a partnership with investment firm Sixth Street under which Sixth Street will plug up to $4 billion into the "buy now, pay later" company.

  • December 13, 2024

    Kirkland, Wachtell Guiding Warner Bros.' Strategic Split

    Kirkland & Ellis LLP and Wachtell Lipton Rosen & Katz are guiding Warner Bros. Discovery Inc. on a new plan to separate its cable TV businesses from its streaming and studio operations.

  • December 13, 2024

    4 Firms Rep On Rent-A-Center Owner's $460M Brigit Deal

    Rent-A-Center owner Upbound Group Inc. has agreed to acquire financial technology company Brigit for up to $460 million, with Sullivan & Cromwell LLP and Mayer Brown LLP guiding Upbound and Cooley LLP and Morgan Lewis & Bockius LLP representing Brigit.

  • December 13, 2024

    CMA Ends Probe Into Sonoco's $3.9B Buy Of European Rival

    Britain's antitrust watchdog has ended its investigation into the $3.9 billion acquisition by U.S. packaging company Sonoco Products of Eviosys, a food can-maker, from private equity firm KPS Capital Partners and another packaging business.

  • December 13, 2024

    UK Launches Probe Into BlackRock Deal For Data Biz Preqin

    The antitrust authority said Friday that it has launched a formal probe into the proposed £2.55 billion ($3.2 billion) acquisition by private equity giant BlackRock of markets data provider Preqin.

  • December 13, 2024

    Charles Russell Leads PE Firm In £100M Warehouse Purchase

    A subsidiary of EQT AB has acquired two warehouses in southern England for more than £100 million ($126 million) as part of the Swedish private equity firm's investment in the developing logistics market.

  • December 13, 2024

    Switzerland's SoftwareOne In Talks To Buy IT Consultancy

    Swiss cloud technology company SoftwareOne Holding AG is in talks to buy Crayon Group, the companies said Friday, a transaction that would create a leading European reseller of software licenses.

  • December 12, 2024

    Incora's Opt-Outs Not Like Class Actions, US Trustee Says

    The U.S. Trustee's Office on Thursday objected to the third-party releases in the Chapter 11 plan from aircraft parts supplier Incora, arguing in a Texas bankruptcy court that the opt-out mechanism for the releases is not comparable to class action procedures.

  • December 12, 2024

    SEC Will Be GOP-Only Without Crenshaw's Vote, Groups Warn

    More than 40 organizations sent a collective letter to U.S. senators in support of Democrat Caroline Crenshaw's reconfirmation to the U.S. Securities and Exchange Commission on Thursday, a day after Senate Republicans blocked a closed-door vote on her nomination.

  • December 12, 2024

    Biden Steel-Deal Block, Walgreens For Sale, And More Rumors

    President Biden is reportedly ready to block the U.S. Steel-Nippon merger on national security grounds, pharmacy giant Walgreens is exploring selling itself to private equity firm Sycamore, and cryptocurrency-related trading platform EToro is preparing an initial public offering.

Expert Analysis

  • Standardizing Early Case Appraisal In Securities Class Actions

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    While an initial economic assessment of securities class action litigation is far too often not undertaken, it's an important step in planning the defense strategy that can provide counsel, clients and insurers with a much clearer view of the case, and can be simplified through standardized analyses, says Assen Koev at SCA iPortal.

  • Del. Ruling Highlights M&A Deal Adviser Conflict Disclosures

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    The Delaware Supreme Court recently reversed the Court of Chancery's dismissal of challenges to Nordic Capital's acquisition of Inovalon, demonstrating the importance of full disclosure of financial adviser conflicts when a going-private merger seeks business judgment rule review, say attorneys at Debevoise.

  • 8 Legal Issues Influencing Investors In The Creator Economy

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    The rapidly expanding digital creator economy — funding for which more than doubled in the U.S. in the first quarter — comes with its own set of unique legal issues investors must carefully consider before diving in, say Louis Lehot and Alan Pate at Foley & Lardner.

  • E-Discovery Quarterly: Recent Rulings On Text Message Data

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    Electronically stored information on cellphones, and in particular text messages, can present unique litigation challenges, and recent court decisions demonstrate that counsel must carefully balance what data should be preserved, collected, reviewed and produced, say attorneys at Sidley.

  • Dual-Track IPO-M&A Exit Strategies For Life Science Cos.

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    A dual-track process for life sciences companies offers a proven path to securing favorable deal terms for an exit, and strategic moves can include running a crossover financing round in the lead-up, say attorneys at McDermott.

  • PE In The Crosshairs Of Public And Private Antitrust Enforcers

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    A series of decisions from a California federal court in the recently settled Packaged Seafood Products Antitrust Litigation, as well as heightened scrutiny from federal agencies, serve as a reminder that private equity firms may be exposed to liability for alleged anti-competitive conduct by their portfolio companies, say attorneys at Axinn.

  • Series

    Swimming Makes Me A Better Lawyer

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    Years of participation in swimming events, especially in the open water, have proven to be ideal preparation for appellate arguments in court — just as you must put your trust in the ocean when competing in a swim event, you must do the same with the judicial process, says John Kulewicz at Vorys.

  • Mid-2024 FCA Enforcement And Litigation Trends To Watch

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    Reviewing notable False Claims Act trends and enforcement efforts in the last year and a half reveals that healthcare is a key enforcement priority for the U.S. Department of Justice, and the road ahead may bring clarification on Anti-Kickback Statute causation and willfulness standards, along with increased focus on private equity, cybersecurity and self-disclosure, say attorneys at Epstein Becker.

  • A Recipe For Growth Equity Investing In A Slow M&A Market

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    Carl Marcellino at Ropes & Gray discusses the factors bolstering appetite for growth equity fundraising in a depressed M&A market, and walks through the deal terms and other ingredients that set growth equity transactions apart from bread-and-butter venture capital investing.

  • 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.

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