Private Equity

  • November 27, 2024

    Davis Polk, Cleary Drive Chinese Robotaxi Firm's Upsized IPO

    Chinese robotaxi operator Pony AI Inc. priced an upsized $260 million initial public offering Wednesday, represented by Davis Polk & Wardwell LLP and underwriters' counsel Cleary Gottlieb Steen & Hamilton LLP, raising money that the self-driving startup hopes will turbocharge growth.

  • November 27, 2024

    Chaotic But PE-Friendly Enviro Expected As Trump Returns

    Donald Trump’s 2024 presidential election victory means that, for only the second time in U.S. history, a former president will make his way back to the White House after a four-year gap. Here, Law360 speaks to private equity attorneys from three separate firms about what they expect to see from Trump’s administration and the ramifications it might have on the industry.

  • November 27, 2024

    JD Sports Completes €520M Deal For French Footwear Biz

    JD Sports Fashion PLC said Wednesday that it has finalized the €520 million ($546 million) acquisition of French footwear company Groupe Courir SAS, after the European Union addressed competition concerns.

  • November 26, 2024

    Del. Justices Uphold Chancery Toss Of No-Compete Suit

    Delaware's Supreme Court has backed a Court of Chancery finding that private equity firm Court Square Capital Management wrongly withheld nearly $5.4 million in carried interest payments from former partner Kevin Brown after he was accused — three years after his 2016 departure — of violating a no-compete agreement.

  • November 26, 2024

    MLBPA, FanDuel Ink Licensing Deal After Settling Legal Spat

    The Major League Baseball Players Association, FanDuel and OneTeam Partners on Tuesday announced that they are teaming up on a product and marketing licensing agreement, a move that comes just weeks after FanDuel was dropped from an MLBPA lawsuit over the alleged use of players' photos to promote sports gambling.

  • November 26, 2024

    Ropes & Gray Atty Is Kirkland's Latest Debt Finance Hire

    Kirkland & Ellis LLP announced the latest of several recent additions to its debt finance group on Monday, a Ropes & Gray LLP partner with a host of multibillion-dollar deals under his belt.

  • November 26, 2024

    GTCR Plugs $1.33B Into Software Testing Biz Tricentis

    Software testing and engineering company Tricentis, advised by Willkie Farr & Gallagher LLP, on Tuesday revealed that it has reached an enterprise value of $4.5 billion following a $1.33 billion investment from Kirkland & Ellis LLP-led private equity giant GTCR.

  • November 26, 2024

    Streaming Biz Brightcove Sold In $233M Go-Private Deal

    Streaming technology company Brightcove Inc., advised by Goodwin Procter LLP, has agreed to go private and be bought by Latham & Watkins LLP-led software company Bending Spoons in an all-cash deal valued at around $233 million.

  • November 25, 2024

    SEC Secured Historic $8.2B Enforcement Haul In 2024

    The U.S. Securities and Exchange Commission obtained $8.2 billion in civil penalties and disgorgement via successful enforcement actions in 2024, the highest amount in the history of the agency despite a significant decline in total enforcement actions, the SEC has announced. 

  • November 25, 2024

    Tuna Price-Fixing MDL Lead Attys Awarded $86M In Fees

    A California federal judge has agreed to award a combined total of $86 million in fees and costs to lead counsel representing two classes of canned tuna buyers who reached settlements in recent months with StarKist, Dongwon Industries and Lion Capital in a decadelong price-fixing case.

  • November 25, 2024

    Lampert, Sears Stockholders Set Appraisal Share Faceoff

    Delaware's Court of Chancery has teed up an argument on how to handle class member claims of former Sears Hometown and Outlet Stores Inc. stockholders whose share appraisal demand was torpedoed by the company's bankruptcy in 2022.

  • November 25, 2024

    Hedge Fund-Backed SPAC Returns To Market With 3rd IPO

    Inflection Point Acquisition Corp. III, the third special purpose acquisition company affiliated with executives of hedge fund Kingwood Capital Management, filed plans on Monday for a $220 million initial public offering, guided by three law firms.

  • November 25, 2024

    NC Biz Owner Settles SEC's $28M Fraud Claims

    An investment firm owner has agreed to return the proceeds of an alleged $28 million Ponzi-like manufacturing debt investment scheme and pay a civil penalty to the U.S. Securities and Exchange Commission, according to an order signed by a North Carolina federal judge.

  • November 25, 2024

    Kirkland, Milbank Shape $3.5B Blackstone-EQT Corp. JV

    EQT Corp., led by Kirkland & Ellis, will form a $3.5 billion joint venture with Blackstone Credit & Insurance to take over ownership of the Mountain Valley Pipeline and other midstream assets that EQT got in its re-acquisition of Equitrans Midstream, the partners announced Monday.

  • November 25, 2024

    5 Firms Build CA$12.1B Take-Private Of CI Financial

    Canada-based asset and wealth management company CI Financial Corp. on Monday announced that it has agreed to go private through an acquisition by Mubadala Capital that boasts an enterprise value of roughly CA$12.1 billion ($8.7 billion) and was built by five law firms.

  • November 22, 2024

    Private Cos. Seek Pre-IPO Share Sales Amid Liquidity Crunch

    Following a dearth of initial public offerings in recent years, more private companies are arranging secondary-share sales to help employees and early investors pare down equity stakes without waiting for a public listing, a trend capital markets attorneys expect will continue for the foreseeable future, even if IPOs rebound.

  • November 22, 2024

    Lenders File Suit To Repossess 600 Crypto ATMs As Payment

    Two holding companies are asking a Pennsylvania federal judge to appoint a receiver to help them take possession of nearly 600 digital currency kiosk machines that their defaulted borrowers pledged as collateral for loans totaling $5 million.

  • November 22, 2024

    Democratic SEC Member To Step Down Amid GOP Takeover

    U.S. Securities and Exchange Commission member Jaime Lizárraga said Friday that he plans to step down before President-elect Donald Trump takes office, a day after SEC Chair Gary Gensler announced his plans to leave, further clearing the way for new Republican Party leadership.

  • November 22, 2024

    Chinese EV Maker's European Unit Eyes $410M SPAC Merger

    Hudson Acquisition I Corp. and Aiways Automobile Europe GmbH said Friday they have inked an agreement to go public through a SPAC merger, with the electric vehicle maker achieving a $410 million pre-merger equity valuation. 

  • November 22, 2024

    Software-Focused VC Firm Closes 2nd Fund At $450M

    Software-focused venture capital firm Theory Ventures on Friday announced that it closed its second fund with $450 million in tow.

  • November 22, 2024

    Honeywell Restructure Continues With $1.3B PPE Biz Sale

    Honeywell said Friday it has agreed to sell its personal protective equipment business to Protective Industrial Products Inc. for $1.325 billion in cash, as the industrial conglomerate forges ahead with a multipronged restructuring program while also facing pressure from an activist investor to split itself in two. 

  • November 22, 2024

    Taxation With Representation: Stradley Ronon, Davis Polk

    In this week's Taxation With Representation, Amcor PLC buys Berry Global Group Inc., AeroVironment buys BlueHalo, Robinhood Markets Inc. acquires TradePMR, and Comcast Corp. spins off a suite of NBCUniversal cable television networks.

  • November 22, 2024

    DirecTV Scraps Dish Merger After Bondholder Rejection

    DirecTV is abandoning a plan to purchase EchoStar's video distribution business Dish DBS, including Dish TV and Sling TV, after Dish DBS' bondholders rejected a proposed exchange debt offer that was required to seal the deal.

  • November 22, 2024

    Apollo Secures Another Week For £1B Bid For Auto Parts Biz

    Auto parts supplier TI Fluid Systems said Friday that both it and the U.K. mergers and acquisitions authority have given Canadian rival ABC Technologies a second extension to finalize its takeover offer of approximately £995 million ($1.3 billion).

  • November 21, 2024

    Big Lots Seeks To Include Claims Against Execs In Asset Sale

    Discount retailer Big Lots on Thursday asked a Delaware bankruptcy judge to approve a $760 million asset sale to a private equity group and override creditor objections to the inclusion of potential litigation claims against company insiders in the package.

Expert Analysis

  • 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.

  • 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.

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