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Private Equity
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March 03, 2025
Kirkland-Led Garnett Station Partners Clinches $1.2B Fund
Kirkland & Ellis LLP-advised Garnett Station Partners on Monday announced that it wrapped its fifth fund after securing $1.2 billion from investors, which will be used to invest across the New York-based firm's core sectors of consumer and business services, health and wellness, automotive, and food and beverage.
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March 03, 2025
Monthly Merger Review Snapshot
Japan's Nippon Steel is challenging a decision blocking its $14.9 billion merger with U.S. Steel Corp. on national security grounds, as door manufacturer Jeld-Wen continues fighting a landmark order forcing it to sell a Pennsylvania factory and the Justice Department pushes cases targeting mergers in the home health, networking and corporate travel spaces.
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March 03, 2025
Chancery OKs Amended Suit In $8B Paramount Sale Fight
Delaware's chancellor agreed Monday to the filing of an amended stockholder challenge to Paramount Global's $8.2 billion merger with Skydance Media and ordered responses by Tuesday from parties affected by a stockholder call for a fast-tracked probe of Paramount's response to an alternative, $13.5 billion offer.
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March 03, 2025
Activist Investor Nominates 2 Candidates To Portillo's Board
Activist investor Engaged Capital LLC on Monday unveiled its slate of directors to stand for election to Portillo's Inc.'s board ahead of the company's annual meeting, saying that the Chicago street food-focused restaurant chain's performance has been suffering due to outdated restaurant operations.
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March 03, 2025
Simpson Thacher-Led ICG Wraps $11B Secondaries Fund
British private equity shop ICG, led by Simpson Thacher & Bartlett LLP, said Monday it has clinched its fifth general partner-led secondaries fund well above target after securing $11 billion of capital commitments.
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March 03, 2025
Ex-Obama, Biden White House Atty Joins Latham
An ex-White House counsel for both former Presidents Barack Obama and Joe Biden has joined Latham & Watkins LLP's Chicago and Washington, D.C., offices as a white collar partner, the firm announced Monday.
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February 28, 2025
SPAC Trio Raise $575M Combined As Market Recovers
Three special purpose acquisition companies began trading on Friday after raising a combined $575 million under guidance from six law firms, adding to a resurgent SPAC market.
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February 28, 2025
Greenberg Traurig Adds Former Flag Football League Exec
Greenberg Traurig LLP has hired an attorney with experience as a high-level executive for a sports league and teams, including the American Flag Football League and the Houston Roughnecks, now of the United Football League, to expand its sports law practice.
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February 28, 2025
MPLX Paying $715M For Full Control Of BANGL Pipeline
Morgan Lewis & Bockius LLP-advised MPLX LP said Friday it has agreed to acquire the remaining 55% interest in the BANGL pipeline system of Texas for $715 million, plus potential future earnout payments, from affiliates of WhiteWater and Diamondback Energy.
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February 28, 2025
Time To Abolish IPO 'Bureaucracy,' Law Professor Says
The U.S. Securities and Exchange Commission's long-established practice of vetting initial public offering filings through back-and-forth comment letters with companies — essentially a screening process intended to rectify faulty disclosures before public dissemination — is a bureaucratic relic that should be done away with, a law professor argues.
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February 28, 2025
Taxation With Representation: Gibson Dunn, Skadden
In this week's Taxation With Representation, Blackstone acquires Safe Harbor Marinas, National Grid sells its green subsidiary in the U.S. to Brookfield, Apollo Global Management buys Bridge Investment Group Holdings Inc., and Teleflex splits into two publicly traded companies.
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February 28, 2025
Goodwin, White & Case Build BridgeBio's $949M SPAC Deal
Clinical-stage biopharmaceutical company BridgeBio Oncology Therapeutics, advised by Goodwin Procter LLP, on Friday announced plans to go public via a merger with special purpose acquisition company Helix Acquisition Corp. II, advised by White & Case LLP, in a deal that gives the combined business an implied pro forma enterprise value of $949 million.
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February 28, 2025
FCA Clears CVC's £5.4B Hargreaves Lansdown Takeover
CVC Capital Partners said Friday that the finance watchdog has given the green light to its £5.4 billion ($6.8 billion) takeover of wealth manager Hargreaves Lansdown, wrapping up all the regulatory conditions needed to close the deal.
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February 27, 2025
Real Estate Fund Says Property Cos. Lost Investor Funds
A real estate investment fund has sued various companies associated with a man accused by the U.S. Securities and Exchange Commission of defrauding investors in an alleged $1 billion scheme, telling a Florida state court that the companies made off with millions of dollars of investor funds meant to go toward specific real estate projects.
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February 27, 2025
Alsup Halts 'Illegal' Firings Of Probationary Federal Workers
U.S. District Judge William Alsup on Thursday temporarily blocked the mass firings of probationary federal employees ordered by President Donald Trump's administration, determining that the Office of Personnel Management illegally directed government agencies to terminate the probationary employees without authority to do so from Congress.
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February 27, 2025
Davis Polk, Kirkland Steer Rithm Capital SPAC's $200M IPO
Special purpose acquisition company Rithm Acquisition Corp., which plans to merge with a company in the financial services or real estate sector, began trading on Thursday after pricing a $200 million initial public offering.
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February 27, 2025
O'Melveny Adds Ex-Paul Hastings Private Funds Partner In LA
O'Melveny & Myers LLP has hired a former Paul Hastings LLP of counsel as a Los Angeles-based partner in its asset management and private equity practice groups, the firm said Thursday.
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February 27, 2025
Anthropic Could Hit $62B Valuation, And More Deal Rumors
AI startup Anthropic is close to securing funding at a $61.5 billion valuation, Bain Capital is mulling a sale of Rocket Software at a $10 billion valuation, and various additional private equity players are considering transactions across food, healthcare and finance. Here, Law360 breaks down these and other notable deal rumors from the past week.
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February 27, 2025
Barry Manilow Pushes Dispute Over Royalties To LA Court
A London judge ruled Thursday that claims by British music royalties outfit Hipgnosis over unpaid royalties against singer Barry Manilow must be dealt with by a court in Los Angeles before proceedings in the U.K. can move forward.
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February 27, 2025
7-Eleven Owner Says $58B Bid Is Off Due To Financing Hitch
Seven & i Holdings Co. said Thursday that a buyout offer from an executive and one of his companies, said to be worth about $58 billion, has fallen through after the bidding party was unable to secure necessary financing, putting a prior bid from Canada's Alimentation Couche-Tard Inc. back into focus.
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February 26, 2025
Matterport Tells Del. Justices Ex-CEO Cash-Out Rulings Flawed
An attorney for 3-D building imaging company Matterport Inc. and an affiliate told Delaware's Supreme Court on Wednesday that the Court of Chancery relied on a "shockingly expansive" definition of the phrase "immediately following" in a decision that ultimately added $79 million to a former CEO's postmerger cash-out after Matterport's go-public sale.
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February 26, 2025
GOP-Led House Panel Pushes Easier Rules On Capital Raising
A U.S. House of Representatives subcommittee invited input Wednesday on a slew of deregulatory bills that seek to ease rules governing private and public securities offerings, drawing plaudits from the Republican majority and mixed responses from Democrats.
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February 26, 2025
Simpson Thacher Guides $1B Real Estate Secondaries Fund
Neuberger Berman, an investment management firm advised by Simpson Thacher & Bartlett LLP, has capped its second real estate private equity secondary fund at $1.05 billion, surpassing its target by $200 million, according to a Wednesday announcement.
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February 26, 2025
Conn. Judge Tosses False Origin Claims In Atty's Firing Suit
A Connecticut federal judge has dismissed an attorney's lawsuit against his former firm and a litigation finance group described as its biggest client, nixing false designation and false origin claims surrounding the firm's alleged use of his name to lure clients after firing him.
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February 26, 2025
USC Escapes PE Exec's $75M 'Varsity Blues' Suit, For Now
The University of Southern California escaped a $75 million suit by a Massachusetts businessman ensnared in the "Varsity Blues" college admissions scandal after a judge found that the parent's claims are time-barred, though she said she'd give him another chance to make his case.
Expert Analysis
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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.
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Opinion
The Big Issues A BigLaw Associates' Union Could Address
A BigLaw associates’ union could address a number of issues that have the potential to meaningfully improve working conditions, diversity and attorney well-being — from restructured billable hour requirements to origination credit allocation, return-to-office mandates and more, says Tara Rhoades at The Sanity Plea.
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Opinion
It's Time For A BigLaw Associates' Union
As BigLaw faces a steady stream of criticism about its employment policies and practices, an associates union could effect real change — and it could start with law students organizing around opposition to recent recruiting trends, says Tara Rhoades at The Sanity Plea.
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How Justices Upended The Administrative Procedure Act
In its recent Loper Bright, Corner Post and Jarkesy decisions, the U.S. Supreme Court fundamentally changed the Administrative Procedure Act in ways that undermine Congress and the executive branch, shift power to the judiciary, curtail public and business input, and create great uncertainty, say Alene Taber and Beth Hummer at Hanson Bridgett.
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Jarkesy May Thwart Consumer Agencies' Civil Penalty Power
The U.S. Supreme Court's ruling in U.S. Securities and Exchange Commission v. Jarkesy not only implicates future SEC administrative adjudications, but those of other agencies that operate similarly — and may stymie regulators' efforts to levy civil monetary penalties in a range of consumer protection enforcement actions, say attorneys at Holland & Knight.
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Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?
A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.
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Why The SEC Is Targeting Short-And-Distort Schemes
The U.S. Securities and Exchange Commission's recent crackdown on the illegal practice of short-and-distort trades highlights the urgent need for public companies to adopt proactive measures, including pursuing private rights of action, say attorneys at Baker McKenzie.
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Series
Playing Dungeons & Dragons Makes Me A Better Lawyer
Playing Dungeons & Dragons – a tabletop role-playing game – helped pave the way for my legal career by providing me with foundational skills such as persuasion and team building, says Derrick Carman at Robins Kaplan.
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3 Leadership Practices For A More Supportive Firm Culture
Traditional leadership styles frequently amplify the inherent pressures of legal work, but a few simple, time-neutral strategies can strengthen the skills and confidence of employees and foster a more collaborative culture, while supporting individual growth and contribution to organizational goals, says Benjamin Grimes at BKG Leadership.
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E-Discovery Quarterly: Rulings On Hyperlinked Documents
Recent rulings show that counsel should engage in early discussions with clients regarding the potential of hyperlinked documents in electronically stored information, which will allow for more deliberate negotiation of any agreements regarding the scope of discovery, say attorneys at Sidley.
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Loper Bright Limits Federal Agencies' Ability To Alter Course
The U.S. Supreme Court's recent decision to dismantle Chevron deference also effectively overrules its 2005 decision in National Cable & Telecommunications Association v. Brand X, greatly diminishing agencies' ability to change regulatory course from one administration to the next, says Steven Gordon at Holland & Knight.