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Private Equity
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June 20, 2024
Skadden, Weil Guide Honeywell's $1.9B Defense Tech Co. Buy
Honeywell International Inc. said Thursday it plans to acquire defense electronics company CAES Systems Holdings LLC in a $1.9 billion all-cash deal guided by Skadden Arps Slate Meagher & Flom LLP and Weil Gotshal & Manges LLP that Honeywell said would enhance its radio frequency technology offerings for military aircraft, missiles and drones.
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June 20, 2024
Dickinson Wright Brings On McDermott, Bell Nunnally Attys
Dickinson Wright PLLC added a pair of new members who include a commercial finance and real estate attorney from Bell Nunnally & Martin LLP based in Austin, Texas, and a tax and incentives attorney from McDermott Will & Emery LLP in Fort Lauderdale, Florida.
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June 20, 2024
A&O Shearman-Led Bridgepoint Makes £626M Offer For Rival
Alpha Financial Markets Consulting Ltd. said Thursday that a company controlled by asset fund manager Bridgepoint Advisers is weighing a £578 million ($734 million) takeover and that it would recommend that to shareholders if it makes a formal bid.
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June 18, 2024
4 Firms Steer Family-Owned Baker Europastry's IPO Plans
Family-owned frozen bakery products giant Europastry S.A. said Tuesday that it plans to raise €225 million ($241.7 million) in fresh capital through an initial public offering on Spanish stock exchanges guided by four law firms, adding to a recent uptick in European IPOs.
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June 18, 2024
Blackstone Plans Takeover Of Japan's Infocom In $1.7B Deal
Blackstone said Tuesday it is planning to take Japanese digital comic distributor Infocom private in a deal that marks its largest private equity deal ever in Japan, worth 275 billion yen ($1.7 billion).
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June 18, 2024
Latham Guides Data Centers Biz In $2.2B KKR-Led Group Deal
A consortium led by private equity giant KKR, advised by Freshfields Bruckhaus Deringer LLP, announced Tuesday it agreed to invest up to $2.22 billion in Singapore-based data center provider ST Telemedia Global Data Centres, which is advised by Latham & Watkins LLP, in what the investors said marks the largest data infrastructure investment in Southeast Asia so far this year.
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June 18, 2024
Perkins Coie Names Private Capital And Fund Formation Chair
Perkins Coie LLP announced Jacquie Duval as the new chair of the firm's private capital and fund formation practice.
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June 18, 2024
Hamilton Lane Closes Its Largest-Ever Fund With $5.6B In Tow
Private equity shop Hamilton Lane, advised by Ropes & Gray LLP, on Tuesday announced that it has clinched its sixth secondary fund with $5.6 billion in tow, marking the firm's largest fundraise ever, according to a statement Tuesday.
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June 18, 2024
African Gold Miner To Go Public Via $500M SPAC Merger
African gold miner Namib Minerals said Tuesday it has agreed to go public by merging with special-purpose acquisition company Hennessy Capital Investment Corp. VI at an estimated $500 million value, a deal said to be the largest SPAC acquisition involving an African business to date.
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June 18, 2024
Cooley Adds Ex-Kirkland Global Fund Formation Atty In NY
Cooley LLP has expanded its fund formation practice with the addition of an experienced fund formation attorney who previously worked at Kirkland & Ellis LLP and founded a venture advisory group for asset managers.
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June 18, 2024
Hargreaves Lansdown Backs £5.4B CVC, Abu Dhabi Bid
The board of Hargreaves Lansdown PLC said Tuesday that it would be willing to recommend to its shareholders a sweetened £5.4 billion ($6.9 billion) takeover offer from a consortium of private equity companies, including CVC and the sovereign wealth fund of Abu Dhabi.
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June 18, 2024
STG Partners' Bid For Gresham Wins Regulatory Approvals
Gresham Technologies PLC said Tuesday that an attempt by U.S. private equity firm STG Partners LLC to buy the U.K.-based software business for £146.7 million ($186 million) has received a boost by gaining regulatory clearances.
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June 17, 2024
Startup Wants To Add More Than $200M To Boeing IP Verdict
Zunum Aero Inc. is urging a Washington federal judge to significantly boost a $72 million jury verdict against the Boeing Co. for misappropriating the electric jet startup's trade secrets, including adding $162.5 million in exemplary damages and nearly $52 million in legal costs and interest.
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June 17, 2024
SEC Alleges Texas Man Offered Virgin Sham $200M 'Lifeline'
Securities regulators sued a venture capitalist and his investment firm in Texas federal court Monday, accusing the firm of making a bogus offer to invest $200 million into Virgin Orbit last year despite having less than $1 in its bank account and causing stock prices to swell before plummeting when the deal collapsed.
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June 17, 2024
Drugmaker, PE Investor Sued In Del. Over 'Unfair' Deal Terms
Clinical-stage biotechnology firm Omega Therapeutics' board entered into an "unfair" agreement to develop a new drug with the company's controlling private equity stockholder that was heavily tilted in favor of the majority equity holder and Omega insiders, an investor alleged in a lawsuit in Delaware's Chancery Court.
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June 17, 2024
Primo Water, BlueTriton All-Stock Merger Creates Water Giant
Primo Water Corp., the parent company of popular water brands such as Alhambra and Crystal Springs, on Monday announced plans to merge with the parent company of water brands Poland Spring and Arrowhead, BlueTriton Brands Inc., in an all-stock deal built by five law firms that is meant to create a North American water giant.
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June 17, 2024
Ares, Searchlight-Led Group Plugs £500M Into RSK Group
British sustainability company RSK Group Ltd., advised by Travers Smith LLP, on Monday announced that it is set to receive a £500 million ($634.5 million) preferred equity investment from a group led by private equity firms Willkie Farr & Gallagher LLP-led Searchlight Capital Partners LP and Dechert LLP-led Ares Management Corp., which will be used to fund growth initiatives.
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June 17, 2024
Hertz Warrant Holder Sues In Chancery For Contract Breach
Two investment affiliates of Discovery Capital Management LP have sued Hertz Global Holdings Inc. in Delaware's Court of Chancery, alleging willful failure to redeem warrants issued in 2021 as part of the company's Chapter 11 and demanding at least $187 million plus interest.
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June 17, 2024
Catching Up With Delaware's Chancery Court
Proposed amendments to Delaware's General Corporation Law that were prompted by several recent Chancery Court rulings sailed through the state Senate last week despite loud opposition from corporate law professors and other Chancery Court watchers, and Tesla shareholders filed two new suits against CEO Elon Musk.
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June 17, 2024
Structured Finance Pros Rejoin King & Spalding From Milbank
Two attorneys from Milbank LLP are returning to King & Spalding LLP in New York just over a year after they departed the firm.
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June 17, 2024
King & Spalding Repping IQVentures On $504M Aaron's Buy
King & Spalding LLP-repped IQVentures Holdings has agreed to purchase Atlanta-based lease-to-own provider The Aaron's Co. Inc., represented by Jones Day, at an enterprise value of about $504 million, Aaron's said in a Monday statement.
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June 17, 2024
Feds Take Hard Line On Tycoon's Pilots After He Goes Free
Manhattan federal prosecutors asked a sentencing judge to consider aggravating circumstances for two pilots who allegedly traded on stock tips from U.K. billionaire Joe Lewis, despite not seeking a prison term for the private equity honcho and former soccer club owner.
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June 17, 2024
Morgan Lewis Adds NY Private Funds Atty From Schulte Roth
Morgan Lewis & Bockius LLP said Monday that it is strengthening its global private investment funds practice by hiring a partner from Schulte Roth & Zabel LLP.
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June 14, 2024
SEC Fines Pa. Adviser In Marketing Rule Action
A Pennsylvania investment adviser has agreed to pay $100,000 as part of an agreement to resolve U.S. Securities and Exchange Commission allegations it broke the regulator's rules barring misleading advertising about fund performance.
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June 14, 2024
Justices Are Asked To Wade Into Blood Pressure Drug IP Fight
United Therapeutics is taking its patent case seeking to stop a rival from selling a drug that competes with its blockbuster treatment for high blood pressure to the U.S. Supreme Court.
Expert Analysis
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7 E-Discovery Predictions For 2024 And Beyond
The legal and technical issues of e-discovery now affect virtually every lawsuit, and in the year to come, practitioners can expect practices and policies to evolve in a number of ways, from the expanded use of relevancy redactions to mandated information security provisions in protective orders, say attorneys at Littler.
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Adjusting Deals To Reflect Shifts In The CRE Market
As the commercial real estate market strengthens and moves out from a challenging time, industry participants should consider any concessions made due to recent trends and update transaction documents accordingly before entering into new deals, says Alexander Davis at Mayer Brown.
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Opinion
Conflicts Abound When Activist Short-Sellers Publish Reports
The self-serving relationship between activist short-sellers and plaintiff-side litigators is conflict-ridden and hinders the fact finder's impartiality when a short report forms the basis for lead plaintiffs' allegations, say Nessim Mezrahi and Stephen Sigrist at SAR.
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Financing Healthcare Deals In Uncertain Markets This Year
As challenges to closing and financing new deals prevail into 2024, lenders in new healthcare transactions are talking about alternative approaches for sponsors to consider, such as private credit alternatives and utilization of junior capital, say attorneys at McDermott.
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5 Litigation Funding Trends To Note In 2024
Over the next year and beyond, litigation funding will continue to evolve in ways that affect attorneys and the larger litigation landscape, from the growth of a secondary market for funded claims, to rising interest rates restricting the availability of capital, says Jeffery Lula at GLS Capital.
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Bank-Fintech Partnerships Can Thrive Despite A Tough 2023
Many banking-as-a-service players experienced regulatory enforcement activities in 2023, including consent orders and more targeted, detailed guidance aimed at bank-fintech partnerships, and while it seems this trend will continue in 2024, savvy banks can use the turmoil of last year as a guide for how to better manage the risks inherent in partnerships, says Justin Steffen at Barack Ferrazzano.
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Series
ESG Around The World: South Africa
While South Africa has yet to mandate the reporting of nonfinancial and environmental, social, and corporate governance issues, policy documents and recent legislative developments are likely to have a material impact in the country's transition to a low-carbon economy and in meeting its international obligations, say Glynn Kent at Eversheds Sutherland.
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4 Legal Ethics Considerations For The New Year
As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.
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Corporate Transparency Act Takeaways For Banking Industry
As of Jan. 1, the Corporate Transparency Act requires millions of companies to report the identities of their beneficial owners and applicants to the Financial Crimes Enforcement Network, and this groundbreaking change adds compliance obligations and complexity for lenders, borrowers and investors, says George Singer at Holland & Hart.
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What The Law Firm Of The Future Will Look Like
As the legal landscape shifts, it’s become increasingly clear that the BigLaw business model must adapt in four key ways to remain viable, from fostering workplace flexibility to embracing technology, say Kevin Henderson and Eric Pacifici at SMB Law Group.
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4 PR Pointers When Your Case Is In The News
Media coverage of new lawsuits exploded last year, demonstrating why defense attorneys should devise a public relations plan that complements their legal strategy, incorporating several objectives to balance ethical obligations and advocacy, say Nathan Burchfiel at Pinkston and Ryan June at Castañeda + Heidelman.
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Cybersecurity Issues For Financial Industry To Track In 2024
In 2024 financial institutions will confront new federal, state and industry regulations around cybersecurity that require additional procedures, enhanced proactive security measures, and timely disclosure of security incidents, say Alex Koskey and Matt White at Baker Donelson.
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5 Recent Developments Family Offices Are Watching In 2024
Although family offices have long been exempt from many of the more onerous regulations and reporting requirements governing U.S. investment advisers and asset managers, recent amendments to federal rules will have an impact on how family offices invest and operate in 2024, say attorneys at Morgan Lewis.
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Charting The Course For Digital Assets In 2024
Although 2023 was a tough year for the digital asset industry, upcoming court decisions, legislation and regulatory action will bring clarity, allowing the industry to expand and evolve, and the government will decide what innovation it will allow without challenge, says Joshua Smeltzer at Gray Reed.
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Law Firm Strategies For Successfully Navigating 2024 Trends
Though law firms face the dual challenge of external and internal pressures as they enter 2024, firms willing to pivot will be able to stand out by adapting to stakeholder needs and reimagining their infrastructure, says Shireen Hilal at Maior Consultants.