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Private Equity
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September 10, 2024
TPG, Rosatom Seek To Bar Jailed Oligarch's $14B Fraud Claim
Russia's state atomic energy corporation and private equity firm TPG Group on Tuesday urged a London judge to block an imprisoned oligarch's $14 billion fraud conspiracy claim over the alleged seizure of his port and transport businesses led by the Russian state.
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September 10, 2024
Vista Delays Investor Vote On MNC Capital's $2.15B Bid
Vista Outdoor Inc. on Tuesday again pushed back a shareholder vote on the $2.15 billion sale of its sports products division to Czech defense company Czechoslovak Group AS, in light of yet another takeover bid from MNC Capital Partners LP.
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September 10, 2024
V&E Launches New Dublin Office In Aviation Finance Push
Vinson & Elkins LLP has launched a new office in Ireland to provide New York and English law advice to clients on aviation leasing and financing matters.
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September 10, 2024
Holland & Knight Grows In DC With Ex-IDB Invest Counsel
A former lead counsel with development bank IDB Invest has joined Holland & Knight LLP in Washington, D.C., boosting the firm's financial services team and its Latin American practice.
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September 10, 2024
Troutman Pepper Adds Duane Morris Private Equity Co-Leader
Troutman Pepper Hamilton Sanders LLP announced Tuesday that it has hired Duane Morris LLP's former global private equity co-head to lead the firm's New York efforts in the practice area.
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September 10, 2024
Healthcare Real Estate Firm Pays $80M For 277 US Properties
Healthcare real estate investment shop Scioto Properties said Tuesday it has completed the $80 million purchase of a portfolio of 277 properties across 17 U.S. states, representing the largest transaction in the firm's quarter-century history.
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September 10, 2024
White & Case Guides £100M Hedge Fund Deal For Spectator
Hedge fund manager Paul Marshall has bought The Spectator for £100 million ($130 million), the 196-year-old news magazine said on Tuesday, a move that will keep the publishing institution independent and out of foreign control.
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September 10, 2024
Brookfield Pledges Over $1B To Ultra-Low Carbon E-Fuels Co.
Brookfield will pump up to $1.05 billion into Infinium and its electrofuels platform, in what the asset management giant said Tuesday is its first direct sustainable aviation fuels investment.
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September 10, 2024
Southwest Plans Board Shakeup Amid Activist Pressure
Southwest Airlines detailed plans Tuesday to overhaul its board of directors but stood by its chief executive, as the company faces pressure from Elliott Investment Management LP to make leadership changes.
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September 10, 2024
Herbert Smith Freehills Hires Private Capital Partner In Asia
Herbert Smith Freehills has hired private capital partner Anthony Vasey to help advise clients at its Hong Kong office on all aspects of the investment life cycle, including fundraising and asset management.
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September 10, 2024
Investors Sue Broker For Assisting $129M Forex Fraud
A group of investors who lost tens of millions of dollars in a fraudulent foreign exchange scheme have sued a London broker for approximately $43 million for allegedly providing credit for the company to trade through brokerage accounts which perpetuated the fraud.
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September 10, 2024
Paul Hastings Taps Capital Markets Pro From Davis Polk
Paul Hastings LLP has hired a prominent capital markets transactions expert as a partner at its London office as it looks to boost its global practice, which it has identified as a priority.
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September 17, 2024
Cooley Hires Team For Emerging Companies And VC Practice
Cooley LLP said Tuesday that it has recruited the head of Taylor Wessing LLP's emerging companies and venture capital practice, one of three partner hires as it seeks to boost its transactional ability in London, part of a broader plan for growth in the English capital.
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September 09, 2024
SEC Fines 9 Advisers $1.24M Over Marketing Rule Violations
The U.S. Securities and Exchange Commission announced Monday that nine investment advisory firms have agreed to pay $1.24 million in combined penalties to settle allegations that they violated the agency's so-called marketing rule by advertising misleading endorsements and third-party ratings.
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September 09, 2024
7-Eleven Says No To Talks With Couche-Tard After $40B Denial
After rejecting a nearly $40 billion buyout offer from Alimentation Couche-Tard Inc. last week, the parent company of 7-Eleven told the Canadian retailer Monday that it hasn't yet brought forth an offer that warrants "substantial discussions."
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September 09, 2024
MBX Biosciences Seeks Up To $136M In Upcoming IPO
Indiana-based clinical-stage biopharmaceutical company MBX Biosciences Inc. on Monday set the terms for its initial public offering, with plans to raise up to $136 million.
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September 09, 2024
Catching Up With Delaware's Chancery Court
Delaware's Court of Chancery made some expensive decisions last week, ranging from a $130 million stockholder award and a freeze on $450 million in equity financing to a whopping $1 billion bill for fraud and breach of contract damages. New cases aimed at Virgin Galactic, settlements pulled in Hemisphere Media Group Inc. and court hearings involving Apollo Global Management heated up. In case you missed it, here's the roundup of news from Delaware's Court of Chancery.
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September 09, 2024
Fried Frank Finance Leader Joins Skadden In New York
The head of the global finance practice at Fried Frank Harris Shriver & Jacobson LLP, an attorney with a history of working on multibillion-dollar transactions, is joining Skadden Arps Slate Meagher & Flom LLP, Skadden announced Monday.
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September 09, 2024
Five Point Energy Clinches 4th Fund With $1.4B In Tow
Sustainable infrastructure-focused private equity shop Five Point Energy LLC on Monday announced that it clinched its fourth fund above target after securing $1.4 billion from investors.
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September 09, 2024
Squarespace Gets 'Best And Final' $7.2B Offer From Permira
Squarespace Inc. said Monday that it has agreed to amend a previous take-private buyout agreement with Permira, bumping up the aggregate transaction value by $300 million to approximately $7.2 billion.
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September 06, 2024
Calif. Panel Rejects PE Exec's Excess Coverage Claims
A California state appeals court upheld the dismissal of a private equity executive's claims that two excess insurers had to cover the millions he said he and his companies incurred in litigation with his co-founder, finding he didn't sufficiently allege that underlying limits had exhausted first.
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September 06, 2024
Sharpe Rips Favre's Nod To Palin-NYT Ruling As Irrelevant
Sportscaster Shannon Sharpe blasted former NFL quarterback Brett Favre on Friday for improperly asking the Fifth Circuit to consider, as it mulls reviving a case against Sharpe, a recent ruling that granted Sarah Palin a new libel trial against the New York Times.
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September 06, 2024
Morgan Stanley Fined $2M Over First Republic Exec's Trades
Massachusetts' top securities cop on Friday imposed a fine of $2 million on Morgan Stanley for failing to ensure that a New Republic Bank chairman hadn't relied on insider information when he dumped millions of dollars of the bank's stock in the days and months before its collapse.
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September 06, 2024
Renewable Energy Biz Goes Public Via $386M SPAC Merger
Renewable energy company EEW Renewables Ltd., advised by Seward & Kissel LLP, on Friday announced plans to go public by merging with Ellenoff Grossman & Schole LLP-led special purpose acquisition company Compass Digital Acquisition Corp. in a deal with a pro forma combined enterprise value of $386 million.
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September 06, 2024
Baker McKenzie M&A Partner Jumps To Bell Nunnally
Dallas-based business law firm Bell Nunnally & Martin LLP has hired former Baker McKenzie partner Jonathan Farrokhnia, who told Law360 on Friday that his decision to join the firm was based on the advantages that come from working for a smaller firm.
Expert Analysis
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Lessons From Country Singer's Personal Service Saga
Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.
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Inside Del. Determinations Of Specific Performance In M&A
Delaware M&A rulings, including several from the end of 2023, shed light on the facts that courts may consider when determining whether a party to a transaction is entitled to specific performance, say attorneys at White & Case and Odeko.
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After Watershed Year, Clean Hydrogen Faces New Challenges
Clean hydrogen is on the verge of taking off — but over the course of 2023, it became clear that the regulatory landscape will be more stringent than expected, and the cost and timing of major projects will depend on a number of key developments anticipated in 2024, say attorneys at Weil.
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A Potential Proactive Tool For Public-Private Joint Ventures
In the current environment of heightened antitrust enforcement, the National Cooperative Research and Production Act seems tailor-made for the collaborative work among competitors encouraged by the Biden administration's infrastructure and green energy funding legislation, say Jeetander Dulani and Susan Ebner at Stinson.
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FERC Actions Signal Concern Over Investors' Utility Stakes
Two recent orders and a notice of inquiry from the Federal Energy Regulatory Commission on the subject of whether large investors are asserting control of public utilities signal increasing regulatory scrutiny of the investment community's influence over the electric power industry, say attorneys at Day Pitney.
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3 Areas Of Focus In Congressional Crosshairs This Year
Companies must prepare for Congress to build on its 2023 oversight priorities this year, continuing its vigorous inquiries into Chinese company-related investments, workplace safety and labor relations issues, and generative artificial intelligence, say attorneys at Morgan Lewis.
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10 Global Antitrust Trends To Anticipate In 2024
Proactive navigation of the antitrust enforcement environment remains crucial this year as legal policy and tools evolve to meet intensifying global economic complexity, including geopolitical tensions, trade realignment, market volatility and inflation, say attorneys at Freshfields.
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NY CRE Lenders Need Clarity On Foreclosure Standing
Recent contradictory New York case law regarding issues of standing in commercial real estate litigation creates confusion for borrowers and lenders alike, and should be addressed by courts in advance of the anticipated onslaught of commercial mortgage-backed securities foreclosures, say Christopher Gorman and John Muldoon at Rosenberg & Estis.
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Series
Baking Bread Makes Me A Better Lawyer
After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.
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Federal Courts And AI Standing Orders: Safety Or Overkill?
Several district court judges have issued standing orders regulating the use of artificial intelligence in their courts, but courts should consider following ordinary notice and comment procedures before implementing sweeping mandates that could be unnecessarily burdensome and counterproductive, say attorneys at Curtis.
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Wachtell-X Ruling Highlights Trend On Arbitrability Question
A growing body of case law, including a California state court's recent decision in X Corp. v. Wachtell, holds that incorporation of specific arbitral body rules in an arbitration provision may in and of itself constitute clear and unmistakable evidence of delegation of arbitrability to an arbitrator, and thus such clauses should be drafted carefully, say attorneys at Norton Rose.
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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.