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Private Equity
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March 07, 2025
Taxation With Representation: Kirkland, Wachtell, Skadden
In this week's Taxation With Representation, Walgreens Boots Alliance goes private via a deal with Sycamore Partners, Honeywell buys Sundyne from Warburg Pincus, and Jazz Pharmaceuticals acquires Chimerix.
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March 07, 2025
Gallagher's $13.5B AssuredPartners Deal Faces FTC Inquiry
Arthur J. Gallagher & Co. announced Friday that federal regulators requested additional information, for a second time, on its $13.5 billion acquisition of independent insurance brokerage AssuredPartners, extending the waiting period under the Hart-Scott-Rodino Act until 30 days after the firm complies with the request.
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March 07, 2025
Simpson Thacher-Led Blackstone Bags $8B For RE Debt Fund
Blackstone said Friday that it has closed an $8 billion fund to invest in global real estate opportunities, with Simpson Thacher & Bartlett LLP advising.
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March 06, 2025
FTC Challenges PE Firm's Medical Device Coatings Deal
The Federal Trade Commission moved Thursday to block private equity firm GTCR BC Holdings LLC's planned $627 million acquisition of Surmodics Inc. over concerns about competition for medical device coatings.
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March 06, 2025
Fintech Startup Klarna Ready For $1B IPO, Plus More Rumors
Fintech startup Klarna is readying a $1 billion initial public offering, Apollo Global Management is keen to lead a $35 billion funding package to help Meta build new data centers, and Italian fashion house Prada is near to closing a $1.6 billion deal to acquire luxury clothier Versace from Capri Holdings Ltd.
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March 06, 2025
As FDIC Walks Back Biden-Era Policies, Bank Groups Applaud
The financial services industry has welcomed the Federal Deposit Insurance Corp.'s recent moves withdrawing various rule proposals from the Biden administration, delaying the compliance deadline for another measure and proposing to rescind a policy statement on bank mergers.
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March 06, 2025
Walgreens Boots Inks $24B Go-Private Deal With Sycamore
Walgreens Boots Alliance said Thursday it has agreed to be purchased by private equity firm Sycamore Partners in a transaction with a total value of up to $23.7 billion, as the storied retailer looks to reverse years of financial declines by going private.
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March 06, 2025
UK Authorities Clear Amex GBT's $570M CWT Buy
United Kingdom antitrust authorities gave the formal all-clear Thursday to American Express Global Business Travel Inc.'s planned $570 million purchase of CWT Holdings LLC, leaving a Justice Department lawsuit the only hurdle remaining for the corporate travel management services merger.
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March 06, 2025
NY Court Rejects Leon Black's Malicious Prosecution Suit
A New York appeals court on Thursday rejected a malicious prosecution suit brought by former Apollo Global Management CEO Leon Black against Wigdor LLP, which represented a woman in a failed lawsuit accusing him of sexual assault.
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March 06, 2025
Everton Football Club Lands £350M In Stadium Financing
Business conglomerate The Friedkin Group completed a £350 million ($451 million) deal that will refinance what was borrowed to complete its 52,888-seat stadium for its Everton Football Club in Liverpool, United Kingdom, the team announced Thursday.
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March 06, 2025
7-Eleven Eyes US IPO Next Year After Failed Takeover Deal
Japan's Seven & i Holdings Co. on Thursday unveiled plans to pursue a U.S. initial public offering of its North American 7-Eleven convenience stores by the second half of next year, among other business changes, a move that comes after the company reported that a $58 billion takeover offer fell through due to a financing snafu.
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March 06, 2025
Akin Lands White & Case Energy Pro In Houston
A former senior counsel for Oasis Petroleum Inc. and partner at White & Case LLP moved his energy and infrastructure transactions practice to Akin Gump Strauss Hauer & Feld LLP in Texas, the firm announced Thursday.
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March 06, 2025
Senate Panel Backs McKernan For CFPB, 3 Other Trump Picks
A U.S. Senate panel on Thursday advanced President Donald Trump's nomination of Jonathan McKernan to head the Consumer Financial Protection Bureau, setting him up for likely confirmation to the beleaguered agency.
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March 06, 2025
Fried Frank Hires White & Case Partner For NY Office
Fried Frank Harris Shriver & Jacobson LLP announced it appointed a longtime White & Case LLP partner to serve as senior counsel in the firm's mergers and acquisitions and private equity practices.
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March 06, 2025
Kirkland-Led Medical Device Firm Prices Upsized $202M IPO
Shares of Kestra Medical Technologies Ltd. soared in debut trading Thursday after the maker of wearable defibrillators priced an upsized $202 million initial public offering above its range, represented by Kirkland & Ellis LLP and underwriters' counsel Allen Overy Shearman Sterling LLP.
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March 06, 2025
McDermott Hires 2 More Schulte Roth PE Partners In NY
McDermott Will & Emery LLP has hired two former partners from Schulte Roth & Zabel LLP for its transactions practice in New York, the firm said Thursday.
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March 05, 2025
Rival Cos. Called 'Empower' Agree To End TM Fight, For Now
Empower Annuity Insurance Co. of America and Empower Finance Inc. agreed to end, for now, their trademark infringement dispute over the "Empower" mark, over a year after a Colorado federal judge found customer confusion was "unlikely" in the financial services sector and refused to order Empower Finance to change its name.
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March 05, 2025
Defense Biz Epirus Clinches $250M Funding Round
National security-focused technology company Epirus announced Wednesday it closed an oversubscribed Series D fundraising round after securing $250 million from investors, bringing the startup's total venture funding to more than $550 million.
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March 05, 2025
Cleanova, Micronics Combine To Create $1.3B Business
Private equity-owned clean technology maker Cleanova on Wednesday announced plans to buy fellow private equity-owned clean technology manufacturer Micronics Engineered Filtration Group to create a company with an enterprise value of $1.3 billion, in a deal built by three law firms.
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March 05, 2025
KKR, Walmart Selling Japanese Supermarket Chain For $2.5B
KKR and Walmart have agreed to sell their 85% and 15% respective stakes in Tokyo-based supermarket chain Seiyu to Japan's Trial Holdings Inc. for a total of 380 billion yen ($2.55 billion), the companies said Wednesday.
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March 05, 2025
FCA Says Private Markets Must Identify Conflicts Better
The Financial Conduct Authority said Wednesday that private asset markets like venture capital need to identify conflicts of interest better in asset valuations, in a multifirm review covering £3 trillion ($3.86 trillion) of global private assets under management.
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March 04, 2025
Avalara Investor Asks 9th Circ. To Revive $8B PE Buyout Suit
An Avalara shareholder urged the Ninth Circuit on Tuesday to revive a proposed securities class action alleging the tax software company duped investors into approving a "deficient" $8.4 billion private equity buyout, arguing the trial court erred in finding Avalara's statements tied to "numerically specific metrics" weren't false or misleading.
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March 04, 2025
Musk Fails To Block OpenAI From Turning Into For-Profit Entity
A California federal judge on Tuesday denied Elon Musk's bid to preliminarily bar OpenAI Inc. from converting into a for-profit entity, saying that a threshold question of whether Musk's over $44 million in donations created a charitable trust was a "toss-up."
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March 04, 2025
Agencies Have 'Ultimate' Authority Over Firings, OPM Says
The Office of Personnel Management on Tuesday issued a revised version of its January memo directing agency heads to identify all probationary employees, adding a disclaimer that OPM "is not directing agencies to take any specific performance-based actions" and that agencies "have ultimate decision-making authority."
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March 04, 2025
CVC Wraps Strategic Opportunities Fund With €4.6B In Tow
Private equity shop CVC Capital Partners, led by Simpson Thacher & Bartlett LLP, on Tuesday said that it closed its third strategic opportunities fund after securing €4.61 billion ($4.9 billion) of investor commitments.
Expert Analysis
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Navigating A Potpourri Of Possible Transparency Act Pitfalls
Despite the Financial Crimes Enforcement Network's continued release of guidance for complying with the Corporate Transparency Act, its interpretation remains in flux, making it important for companies to understand potentially problematic areas of ambiguity in the practical application of the law, say attorneys at Sidley.
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A Preview Of AI Priorities Under The Next President
For the first time in a presidential election, both of the leading candidates and their parties have been vocal about artificial intelligence policy, offering clues on the future of regulation as AI continues to advance and congressional action continues to stall, say attorneys at Mintz.
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How Companies Are Approaching Insider Trading Policies
An analysis of insider trading policies recently disclosed by 49 S&P 500 companies under a new U.S. Securities and Exchange Commission rule reveals that while specific provisions vary from company to company, certain common themes are emerging, say attorneys at Gibson Dunn.
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How Methods Are Evolving In Textualist Interpretations
Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.
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Navigating New Enforcement Scrutiny Of 'AI Washing'
The U.S. Securities and Exchange Commission's recent lawsuit against Joonko Diversity, its first public AI-focused enforcement action against a private company, underscores the importance of applying the same internal legal and compliance rigor to AI-related claims as other market-facing statements, say attorneys at Fried Frank.
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Increased Scrutiny Raises Int'l Real Estate Transaction Risks
Recently proposed regulations expanding the Committee on Foreign Investment in the United States' oversight, a White House divestment order and state-level legislative efforts signal increasing scrutiny of real estate transactions that may trigger national security concerns, say Luciano Racco and Aleksis Fernández Caballero at Foley Hoag.
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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.