Try our Advanced Search for more refined results
Private Equity
-
July 24, 2024
Paramount Defaulted On Co. Sale Doc Demand, Chancery Told
Paramount Global has "completely defaulted" on obligations to provide documents sought by a shareholder investigating controller Shari Redstone's alleged self-interested "usurpation" of the media company's sale opportunities, a stockholder attorney told a Delaware Court of Chancery magistrate Wednesday.
-
July 24, 2024
Latham-Led Warehouse Giant Lineage Inks Year's Largest IPO
Cold-storage warehouse giant Lineage Inc. on Wednesday priced an upsized $4.4 billion initial public offering within its range, represented by Latham & Watkins LLP and underwriters counsel Goodwin Procter LLP, marking the year's largest IPO to date.
-
July 24, 2024
Intelsat Insider Trading Claims Don't Connect, 9th Circ. Rules
The Ninth Circuit on Wednesday affirmed a lower court's dismissal of claims accusing satellite company Intelsat stakeholders of insider trading, saying the suing hedge funds did not properly plead that the shareholders possessed material nonpublic information at the time of their trades.
-
July 24, 2024
Vanta Hits $2.45B Valuation After $150M Funding Round
Trust management platform Vanta on Wednesday announced that it reached a $2.45 billion valuation after the successful close of its $150 million Series C funding round.
-
July 24, 2024
Navajo Coal Co. Appeals FINRA Arbitration Order In $11M Fight
A Navajo coal-mining company has wasted no time in appealing a Pennsylvania federal judge's order refusing to grant the tribe-owned business's bid to halt arbitration proceedings against a private equity firm in an $11 million dispute over their financing agreement.
-
July 24, 2024
Latham, Stevens & Lee Guide Bitcoin Co.'s $365M SPAC Deal
Bitcoin rewards provider Fold and a special purpose acquisition company announced Wednesday they agreed to merge through a transaction that will take Fold public at an estimated $365 million valuation, with attorneys from Stevens & Lee and Latham counseling the parties.
-
July 24, 2024
Weil Guides Close Of Agellus Capital's $400M Debut Fund
Private equity shop Agellus Capital, advised by Weil Gotshal & Manges LLP, on Wednesday announced that it clinched its debut private equity fund with $400 million in total limited partner commitments.
-
July 24, 2024
Rising Star: Kirkland's Mark Boyagi
Mark Boyagi is a partner in Kirkland & Ellis LLP's investment funds practice group and leads the firm's equity solutions team, where he has advised on several transactions in global secondaries market volume, including advising Alpine Investors last year on a $3.4 billion single-asset continuation fund transaction, earning him a spot among the fund formation law practitioners under age 40 honored by Law360 as Rising Stars.
-
July 24, 2024
Fried Frank Hires 5th Ex-Goodwin Partner, This Time In NY
Fried Frank Harris Shriver & Jacobson LLP has hired another Goodwin Procter LLP attorney, who joins the firm in New York to continue her work with asset management and other financial industry clients, the firm announced Tuesday.
-
July 24, 2024
Wilson Sonsini Leads PE-Backed OneStream's $490M IPO
Private-equity backed financial software provider OneStream Inc. railed in debut trading Wednesday after pricing a $490 million initial public offering above its range, represented by Wilson Sonsini Goodrich & Rosati PC and underwriters counsel Latham & Watkins LLP, kicking off a potentially busy week for IPOs.
-
July 24, 2024
T-Mobile Plugs $4.9B Into JV With KKR To Buy Metronet
T-Mobile announced Wednesday that it has partnered up with private equity giant KKR to acquire pure-play fiber company Metronet in a joint venture that sees T-Mobile investing roughly $4.9 billion at deal close, in a transaction built by eight law firms.
-
July 24, 2024
US, British PE Firms Make €2.2B Offer For Cybersecurity Biz
Cybersecurity firm Exclusive Networks said Wednesday that it has been handed a takeover offer of approximately €2.2 billion ($2.4 billion) from a consortium made up of U.S. private equity firm Clayton Dubilier & Rice and its biggest shareholder, Permira.
-
July 23, 2024
Chancery Ends Challenge To $12.5B Qualtrics' SAP Sale
Saying it was not reasonably conceivable that he would find software giant SAP and Qualtrics International Inc. directors liable for damages after Qualtrics' $12.5 billion sale to Silver Lake Capital despite a superficially better offer, a Delaware vice chancellor on Tuesday dismissed a stockholder challenge to the deal.
-
July 23, 2024
Tech Firm Mobileum Enters Ch. 11 To Trim Over $500M Debt
Global telecom analytics group Mobileum Inc. sought Chapter 11 protection in Texas on Tuesday, with plans to trim $529 million from its books through a debt-for-equity swap after falsified time records uncovered last year backlogged operations and spurred litigation.
-
July 23, 2024
Reinsurance Biz Secures $1.3B In Latest Capital Raise
Annuity reinsurer Martello Re Ltd., advised by Kirkland & Ellis LLP and Clifford Chance LLP, on Tuesday announced that it successfully completed a $1.3 billion capital raise, including $935 million of equity commitments and an upsized current credit facility by $360 million.
-
July 23, 2024
4 Firms Guide SPAC Mergers Targeting AI, Cannabis Sectors
An AI-powered startup that vows to combat "disinformation" and a medical cannabis developer have agreed to go public by merging with special purpose acquisition companies through separate deals unveiled this week, guided by four law firms and a law office.
-
July 23, 2024
Snell & Wilmer Hires Longtime Procopio Group Leader In Calif.
Snell & Wilmer LLP has hired a more than 20-year veteran of Procopio Cory Hargreaves & Savitch LLP who led his former firm's emerging growth and venture capital practice group in California.
-
July 23, 2024
Rising Star: Davis Polk's Sijia Cai
Sijia Cai led the Davis Polk & Wardwell LLP team that advised investment firm Rubicon Founders LLC on its roughly $1.2 billion second flagship private equity fund and was on the team that advised on a $2.5 billion Morgan Stanley secondaries fund, earning her a spot among the fund formation practitioners under age 40 honored by Law360 as Rising Stars.
-
July 23, 2024
Eni's Mobility Biz Unit Valued At €12.5B As KKR To Buy Stake
Private equity shop KKR will buy a minority stake in the sustainable mobility business of Eni SpA, the Italian supermajor oil company, in a deal that values the subsidiary at up to €12.5 billion ($13.6 billion), the companies said Tuesday.
-
July 22, 2024
Chancery Ruling Denies Extra New Relic Doc Release Demand
Two shareholders of web analytics firm New Relic Inc. lost a Delaware Court of Chancery bid Monday for additional disclosures regarding the company's $6.5 billion, $87-per-share buyout by private equity firms Francisco Partners and TPG Capital LP, despite a magistrate's finding that the original, general demand was proper.
-
July 22, 2024
Steward Health Care Finds Buyers For 2 Hospitals
Steward Health Care has told a Delaware bankruptcy judge it has found buyers for two of the facilities in its first round of hospital sales in its Chapter 11 case, but three others had attracted no qualified bids.
-
July 22, 2024
What Attorneys Need To Know About JD Vance
Vice presidential nominee JD Vance's brief legislative record shows he is aligned with his fellow Republicans on hot-button issues like abortion and immigration, but it also indicates that the senator from Ohio may be willing to break with the GOP mainstream when it comes to regulating big business. Here's what attorneys should know about the vice presidential candidate.
-
July 22, 2024
FTC Tells 5th Circ. Anesthesia Co. Can't Stop Antitrust Case
The Federal Trade Commission is telling the Fifth Circuit to dismiss U.S. Anesthesia Partners Inc.'s appeal in the FTC's antitrust case against it, saying the circuit court has no jurisdiction in the appeal because the lower court ruling at issue falls outside the scope of the collateral order doctrine.
-
July 22, 2024
Fifth Third Sued In $20M Escrow Dispute Over Dividend Solar
A private equity seller of a solar panel fintech lender that Fifth Third Bank bought in 2022 has sued the bank in New York federal court to free up $20 million in indemnity escrow funds that it alleges the bank has tried improperly to withhold over state investigations tied to the fintech.
-
July 22, 2024
Goodwin Guides Bregal Sagemount's $500M Fund Close
Growth-focused private equity shop Bregal Sagemount, advised by Goodwin Procter LLP, on Monday announced that it clinched its inaugural fund after raising $500 million of capital commitments.
Expert Analysis
-
Opinion
The FTC Needs To Challenge The Novo-Catalent Deal
Novo's acquisition of Catalent threatens to substantially lessen competition in the manufacturing and marketing of GLP-1 diabetes and obesity drugs, and the Federal Trade Commission should challenge it under a vertical theory of harm, as it aligns with last year's merger guidelines and the Fifth Circuit decision in Illumina, says attorney David Balto.
-
Series
Being A Luthier Makes Me A Better Lawyer
When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.
-
Lead Like 'Ted Lasso' By Embracing Cognitive Diversity
The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.
-
Today's Trends In Private Credit And Unitranche Financing
Excerpt from Practical Guidance
Proskauer’s Michelle Iodice analyzes recent patterns in private credit and unitranche financing transactions, including the rise of super-senior revolver loans as an alternative to traditional structure, and considers how they may shape the private credit and broadly syndicated loan markets through the remainder of 2024.
-
The Good, The Bad And The Ugly Of Healthcare's PE Boom
While an influx of capital may provide access to new resources and innovative technologies, the private equity model's method of funding may be fundamentally at odds with patient-first healthcare, and in recent years that inherent tension has gotten ugly, say Eva Gunasekera and Jaclyn Tayabji at Tycko & Zavareei.
-
Opinion
Now More Than Ever, Lawyers Must Exhibit Professionalism
As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.
-
Series
Serving In The National Guard Makes Me A Better Lawyer
My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.
-
Will Texas Stock Exchange Provide Regulatory Haven?
While the newly proposed Texas Stock Exchange may represent a market reaction to increasingly complex regulations, those looking to list on a national securities exchange should consider that their choice of an exchange may not relieve them of some of the most burdensome public company requirements, say Elizabeth McNichol and Ryan Lilley at Katten.
-
A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates
Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.
-
A Checklist For Lenders Preparing For CRE Loan Defaults
Considering the recent interest rate environment, lenders should brush up on the proper steps that they should take when preparing to respond to a borrower's default on a commercial real estate loan, and borrowers should understand what lenders will be reviewing, says attorney Norma Williams.
-
Opinion
States Should Loosen Law Firm Ownership Restrictions
Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.
-
Series
Solving Puzzles Makes Me A Better Lawyer
Tackling daily puzzles — like Wordle, KenKen and Connections — has bolstered my intellectual property litigation practice by helping me to exercise different mental skills, acknowledge minor but important details, and build and reinforce good habits, says Roy Wepner at Kaplan Breyer.
-
Texas Ethics Opinion Flags Hazards Of Unauthorized Practice
The Texas Professional Ethics Committee's recently issued proposed opinion finding that in-house counsel providing legal services to the company's clients constitutes the unauthorized practice of law is a valuable clarification given that a UPL violation — a misdemeanor in most states — carries high stakes, say Hilary Gerzhoy and Julienne Pasichow at HWG.
-
In Memoriam: The Modern Administrative State
On June 28, the modern administrative state, where courts deferred to agency interpretations of ambiguous statutes, died when the U.S. Supreme Court overruled its previous decision in Chevron v. Natural Resources Defense Council — but it is survived by many cases decided under the Chevron framework, say Joseph Schaeffer and Jessica Deyoe at Babst Calland.
-
First-Of-Its-Kind Chancery Ruling Will Aid SPAC Defendants
The Delaware Chancery Court's first full dismissal of claims challenging a special purpose acquisition company transaction under the entire fairness doctrine in the recent Hennessy Capital Acquisition Stockholder Litigation establishes useful precedent to abate the flood of SPAC litigation, say Lisa Bugni and Benjamin Lee at King & Spalding.