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Private Equity
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January 27, 2025
Obesity-Focused Metsera Leads Biotech Firms Eyeing IPOs
Obesity-focused drug developer Metsera launched plans on Monday for an estimated $275 million initial public offering, joined by kidney-disease focused Maze Therapeutics, both of which plan to tap the markets this week under combined guidance of four law firms.
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January 27, 2025
Drone Co., Media Biz And Tire-Maker Announce SPAC Mergers
Three overseas companies spanning industries from drones to fashion media and tire manufacturing announced plans on Monday to go public in the U.S. by merging with special purpose acquisition companies in deals projected to exceed $1.1 billion in value, guided by at least eight law firms.
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January 27, 2025
PureHealth Nabs Majority Stake In HHG In $2.3B Deal
Middle Eastern healthcare group PureHealth Holding PJSC on Monday announced plans to buy a majority stake in Freek and Cypriot healthcare provider Hellenic Healthcare Group in a deal that values HHG at $2.3 billion.
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January 27, 2025
Jimmie Johnson Takes Majority Stake In NASCAR Cup Team
Seven-time NASCAR champion Jimmie Johnson has become the majority owner in the Legacy Motor Club, a NASCAR Cup Series racing team, as part of a restructuring that includes a minority investment from Milbank-represented Knighthead Capital Management LLC, according to a Legacy MC statement Monday.
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January 27, 2025
Ancora Seeks To Make US Steel 'Great Again' With New Board
Ancora Holdings Group on Monday said it plans to make U.S. Steel "great again" by installing a new CEO and board at the company "committed to abandoning" the $14.9 billion proposed merger with Nippon Steel that was blocked by former President Joe Biden earlier this month.
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January 27, 2025
Swedish PE Group EQT To Buy Italian Warehouses For €230M
Private equity group EQT said Monday that its fund has agreed to acquire warehouses near Milan and Verona for €230 million ($241 million) from Italian asset manager Kryalos, as the Swedish company reacts to growing demand for logistics centers in Europe.
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January 24, 2025
Trump Media Says Presidential Shield Deflects Investors' Suit
President Donald Trump's social media company on Friday urged the Delaware Chancery Court to dismiss, or at least stay, a lawsuit brought by investors alleging that plans to take the platform public would cheat them out of their shares, arguing that a sitting president is shielded from civil litigation in state court.
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January 24, 2025
FDIC Wins Discovery Bid In SVB Fraud Coverage Row
A Chubb unit must give certain documents to Silicon Valley Bank's former parent SVB Financial Group regarding coverage for a fraud that SVB Financial said caused $73 million in losses, a North Carolina federal court ruled Friday, though relieving an excess insurer of doing the same.
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January 24, 2025
Amex GBT Faces Sept. Trial In DOJ Case Against $570M Deal
A New York federal judge set a September trial date Friday for the U.S. Department of Justice suit challenging American Express Global Business Travel Inc.'s planned $570 million purchase of CWT Holdings LLC, rejecting company assertions of "exigencies" necessitating a decision by June.
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January 24, 2025
Ex-Staffing Co. Execs Get Prison After Copping To $75M Fraud
A Manhattan federal judge sentenced two brothers who built the staffing firm Resource Employment Solutions to prison Friday after they admitted lying to two financial firms about their Florida company's finances in what prosecutors called a $75 million fraud conspiracy.
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January 24, 2025
10 AGs Target Major Banks Over DEI, ESG Initiatives
Major financial institutions in the United States, including Goldman Sachs and JPMorgan, could have made business decisions to follow political agendas, attorneys general from 10 states said, urging them to tackle a series of questions about their diversity and inclusion policies.
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January 24, 2025
Chinese Co. Buys Stake In Amp Maker Marshall In $1.2B Deal
Chinese private equity firm HongShan Capital Group has agreed to purchase a majority stake in the Marshall Group, in a deal that values the maker of guitar amplifiers and speaker cabinets at EU1.1 billion ($1.16 billion), Marshall said Friday.
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January 24, 2025
Taxation With Representation: Latham, Simpson Thacher
In this week's Taxation With Representation, a Brookfield private real estate fund acquires Divvy Homes' property portfolio and platform, Kantar Group proposes the sale of Kantar Media, and an Ares Management-led group buys a majority of Form Technologies Inc.'s common equity.
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January 24, 2025
'Secret Plot' Drove Perella Weinberg Split, Judge Hears
A New York state judge heard dueling claims of deception on Friday as counsel for investment banking firm Perella Weinberg and a group of former partners each accused the other of a "secret plot" that violated their partnership agreement, kicking off a trial centering on a sudden split in the firm a decade ago.
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January 24, 2025
Blackstone To Buy $1B Power Plant In Va. Data Center Mecca
Blackstone, advised by Kirkland & Ellis LLP, plans to purchase a natural gas power plant in Loudoun County, Virginia — a region known for having the biggest data center market in the world — for $1 billion from Latham & Watkins LLP-led Ares Management, according to a source familiar with the matter.
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January 24, 2025
Venture-Backed IPO Recovery Could Be Muted, Report Says
The expected recovery for venture-backed initial public offerings in 2025 will likely be muted, a capital markets research firm said Friday, given investors' persistent concerns about valuation and delayed interest rate cuts that may not happen until midyear.
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January 23, 2025
Davis Polk, Skadden Steer LNG Exporter's $1.8B IPO
Liquefied natural gas exporter Venture Global Inc. on Thursday priced an estimated $1.8 billion initial public offering within its downwardly revised range, represented by Davis Polk & Wardwell LLP and underwriters counsel Skadden Arps Slate Meagher & Flom LLP.
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January 23, 2025
Conn. High Court Snapshot: Atty's Bonus, Burn Verdict
In its next term starting Monday, the Connecticut Supreme Court will hear an appeal from an acupuncturist who doesn't want to share liability for a judgment paid to a burn victim, and consider whether to reverse a seven-figure verdict for a private equity management firm's founder, who claims other members improperly cut him out.
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January 23, 2025
AI Chatbot Co. CEO, Atty Spouse Indicted On $60M Fraud
Federal prosecutors in California arrested the former CEO of an artificial intelligence company Thursday alongside his lawyer wife, accusing the duo of a $60 million fraud scheme in which they allegedly lied to investors about the company's financial state and diverted funds to pay for their wedding.
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January 23, 2025
Conn. Lawmakers Target Healthcare After Hospital's Ch. 11
In the lead-up to and aftermath of California hospital operator Prospect Medical Holdings Inc.'s $1 billion bankruptcy, Connecticut lawmakers are considering new regulatory powers, promising and penning oversight bills for hospitals owned by private equity firms and real estate trusts while seeking to stabilize the state's healthcare markets.
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January 23, 2025
Chinese Ride Co. Ordered To Produce Regulator Testimonies
A New York federal judge ordered Chinese ride-hailing giant Didi Global Inc. to provide testimony about its interactions with Chinese regulators before its 2021 initial public offering, rejecting the company's claim that Chinese law prevents disclosure.
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January 23, 2025
Chancery Tosses Suit Challenging $10.2B Zendesk Sale
Rejecting stockholder claims of misstated or omitted deal terms, a Delaware vice chancellor on Wednesday dismissed a suit accusing managers of software-as-a-service venture Zendesk Inc. of taking the company private at a $10.2 billion price far below earlier offers.
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January 23, 2025
Spotless Brands' Sale Could Make Splash, And More Rumors
Owners of Spotless Brands are seeking to sell the car-wash operator for $3 billion, while more overseas companies are preparing U.S. initial public offerings, including Chinese self-driving systems maker Inceptio Technologies and Israel-based cryptocurrency trading platform eToro. Here, Law360 breaks down the notable deal rumors from the past week.
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January 23, 2025
Latham-Led Brookfield Buying Divvy Homes For $1B
A Brookfield private real estate fund has agreed to acquire Divvy Homes' property portfolio and platform for approximately $1 billion, with an expected close in mid-February, the companies announced Wednesday.
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January 23, 2025
Kirkland-Led Francisco Partners Wraps Credit Fund At $3.3B
Kirkland & Ellis LLP-advised Francisco Partners revealed Thursday that it clinched its third opportunistic credit fund above target after securing $3.3 billion from investors.
Expert Analysis
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How Fund Advisers Can Limit Election Year Pay-To-Play Risks
With Minnesota Gov. Tim Walz now the Democratic candidate for vice president, politically active investment advisers should take practical steps to avoid triggering strict pay-to-play rules that can lead to fund managers facing mutli-year timeouts from working with public funds after contributing to sitting officials, say attorneys at Dechert.
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FTC Focus: What Access To Patent Settlements Would Mean
Settling parties should adopt a series of practice tips, including specifying rationales to support specific terms, as the Federal Trade Commission seeks to expand its access to settlements before the Patent Trial and Appeal Board, say Shannon McGowan and David Munkittrick at Proskauer.
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Why Attorneys Should Consider Community Leadership Roles
Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.
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9 Liability Management Tips As Debt Maturity Cliff Looms
As the debt maturity cliff swiftly approaches in this challenging environment, attorneys at Winston & Strawn highlight the top considerations for boards of directors and finance professionals to think about when structuring and executing liability management transactions, including reviewing capital structure, evaluating debt covenants, and more.
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Firms Must Offer A Trifecta Of Services In Post-Chevron World
After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.
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5 Tips To Succeed In A Master Of Laws Program And Beyond
As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.
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Series
Being An Opera Singer Made Me A Better Lawyer
My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.
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How Law Firms Can Avoid 'Collaboration Drag'
Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.
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Opinion
Litigation Funding Disclosure Key To Open, Impartial Process
Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.
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What NFL Draft Picks Have In Common With Lateral Law Hires
Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.
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Replacing The Stigma Of Menopause With Law Firm Support
A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.
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Planning Law Firm Content Calendars: What, When, Where
During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.
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Series
Playing Golf Makes Me A Better Lawyer
Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.
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Law Firms Should Move From Reactive To Proactive Marketing
Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.
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Tips For Revamping Patent Portfolio Strategy In AI Deal Era
Recent data suggests patents are significantly enhancing exit valuations, particularly with cutting-edge technologies like those powered by artificial intelligence, but it is necessary to do more than simply align patent strategy with business goals, says Keegan Caldwell at Caldwell Law.