Private Equity

  • 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.

  • 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.

  • 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.

  • 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." 

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • September 06, 2024

    Judge Says He'll OK 2U's $527M Debt-Cutting Plan

    A New York bankruptcy judge Friday said he would approve remote learning company 2U Inc.'s prepackaged plan to cut $527 million in debt in Chapter 11, rejecting arguments that it failed to get proper consent for the plan's third-party liability releases.

  • September 06, 2024

    Goodwin-Led Cancer Biotech Eyes Roughly $200M IPO

    Drug developer Bicara Therapeutics Inc., advised by Goodwin Proctor LLP, announced on Friday plans to raise around $200 million in its initial public offering, with the proceeds going toward developing bifunctional antibodies designed to treat solid tumors.

  • September 06, 2024

    7-Eleven Parent Rejects Nearly $40B Buyout Offer

    The Tokyo-based parent company of convenience store chain 7-Eleven has turned down a nearly $40 billion nonbinding buyout offer from Couche-Tard, nudging the Canadian convenience store owner in a Friday letter to offer something better, and stating that the bid undervalues the business and fails to acknowledge regulatory concerns. 

  • September 06, 2024

    Taxation With Representation: Debevoise, Bennett, Orrick

    In this week's Taxation With Representation, Verizon reaches a deal to absorb Frontier in a deal worth $20 billion, First Majestic agrees to buy Gatos Silver for $970 million, and Epam Systems inks a $630 million purchase of Neoris.

  • September 05, 2024

    Class Attys Vie To Lead Drug Co. Insider Trading Suit In Del.

    A courtroom face-off over lead stockholder counsel duties in a Delaware Chancery Court case accusing a biopharmaceutical company's directors of insider trading and fiduciary duty breaches got edgy Thursday, after one of the plaintiff-side legal teams contended that the other's case was irreparably hobbled by conflicts of interest.

  • September 05, 2024

    PE Firm Argues Tossing of FTC Case Also Ends Workers' Suit

    The dismissal of a government antitrust action against Welsh Carson Anderson & Stowe warrants the dismissal of a second lawsuit brought by a Houston workers' benefit fund since the complaint is "unapologetically based" on the parallel Federal Trade Commission action, the private equity firm told a Houston federal judge in a hearing Thursday.

  • September 05, 2024

    Biden To Block US Steel-Nippon, And More Deal Rumors

    President Joe Biden is reportedly preparing to block the $14.9 billion merger of U.S. Steel and Nippon Steel, Blackstone and Vista Equity Partners may team up to buy Smartsheet, and Springer Nature is planning an initial public offering. Here, Law360 breaks down these and other notable deal rumors reported over the past week.

  • September 05, 2024

    Ga. Investment Adviser To Pay $335K To End SEC Suit

    Atlanta-based West Mountain LLC and its director, Paul Alar, will pay $335,000 and take other steps to resolve a U.S. Securities and Exchange Commission complaint alleging they fraudulently overvalued assets and collected inflated fees.

  • September 05, 2024

    Chancery Presses Pause On $450M Bolt Financial Financing

    Affiliates of multinational investors Hedosophia and BlackRock have won a Delaware Court of Chancery pause of a purported Bolt Financial Inc. $450 million equity financing that would eliminate and replace all the company's preferred stock while returning founder Ryan Breslow to his CEO seat.

  • September 05, 2024

    Casino Queen Strikes Deal In Workers' ESOP Suit

    Casino Queen's parent company agreed to settle a proposed class action by workers claiming it cost them tens of millions when their employee stock ownership plan bought $170 million of the company's stock in an overinflated deal, according to an Illinois federal court filing Thursday.

  • September 05, 2024

    Debevoise, Cravath Steer Verizon's $20B Frontier Takeover

    Debevoise & Plimpton LLP is guiding Verizon Communications Inc. on a deal disclosed Thursday that will see the telecommunications giant absorb Cravath Swaine & Moore LLP-advised Frontier Communications at a $20 billion enterprise value. 

Expert Analysis

  • Banks Have Won Syndicated Loan Battle, But Not The War

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    Though the U.S. Supreme Court's recent denial of certiorari in Kirschner v. JPMorgan preserves the status quo that syndicated loans are not securities, the U.S. Securities and Exchange Commission's discomfort suggests that the underlying issues have not been fully resolved, say attorneys at Crowell & Moring.

  • The Art Of Asking: Leveraging Your Contacts For Referrals

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    Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.

  • SEC Off-Channel Comms Action Hints At Future Enforcement

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    Although the U.S. Securities and Exchange Commission’s recent enforcement action against Senvest does not shed light on how the agency will calibrate penalties related to off-channel communications violations, it does suggest that we may see more cases against standalone investment advisers, say attorneys at Sidley.

  • Series

    Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

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    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • What 3rd Circ. Trust Ruling Means For Securitization Market

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    Mercedes Tunstall and Michael Gambro at Cadwalader break down the Third Circuit's March decision in Consumer Financial Protection Bureau v. National Collegiate Master Student Loan Trust, as well as predict next steps in the litigation and the implications of the decision for servicers and the securitization industry as a whole.

  • Behind Indiana's Broad New Healthcare Transactions Law

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    The high materiality threshold in Indiana's recently passed healthcare transaction law, coupled with the inclusion of private equity in its definition of healthcare entities, makes it one of the broadest state review regulations to date, say attorneys at DLA Piper.

  • 10 Tips For ESG Disclosure Compliance In Private Funds

    Excerpt from Practical Guidance
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    As regulators increase scrutiny of misleading claims about environmental, social and governance investments, private fund sponsors should consider several practical tips for communicating accurately with potential investors, drafting comprehensive disclosures and establishing internal policies that can keep pace with evolving compliance requirements, says Jonathan Rash at Ropes & Gray.

  • Highlights From The 2024 ABA Antitrust Spring Meeting

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    U.S. merger enforcement and cartels figured heavily in this year's American Bar Association spring antitrust meeting, where one key takeaway included news that the Federal Trade Commission's anticipated changes to the Hart-Scott-Rodino form may be less dramatic than many originally feared, say attorneys at Freshfields.

  • What FERC's Disclosure Demands Mean For Cos., Investors

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    Two recent Federal Energy Regulatory Commission orders reflect the commission's increasingly meticulous approach to reviewing corporate structures in applications for approval of proposed consolidations, acquisitions or changes in control — putting the onus on the regulated community to track and comply with ever-more-burdensome disclosure requirements, say attorneys at Willkie.

  • Series

    Whitewater Kayaking Makes Me A Better Lawyer

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    Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.

  • This Earth Day, Consider How Your Firm Can Go Greener

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    As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.

  • Opinion

    Post-Moelis Del. Corp. Law Proposal Would Hurt Stockholders

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    The proposed Delaware General Corporation Law amendment in response to the Court of Chancery's recent opinion in West Palm Beach Firefighters' Pension Fund v. Moelis would upend the foundational principle of corporate law holding that directors govern corporations in the interest of stockholders — and the potential harm would be substantial, say attorneys at Block & Leviton.

  • Management Incentives May Be Revisited After PE Investment

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    As the economic climate shifts, key parties in private equity investment transactions may become misaligned, and management incentive plans could become ineffective — so attentive boards may wish to caucus with management to evaluate continued alignment, say Austin Lilling and Nida Javaid at Morgan Lewis.

  • Practicing Law With Parkinson's Disease

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    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

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