Private Equity

  • March 05, 2021

    3 Firms Steer SPAC Merger Forming $2B Bitcoin Mining Biz

    Bitfury Group subsidiary Cipher Mining said Friday that it's aiming to go public through a merger with a special purpose acquisition company to forge a $2 billion Bitcoin mining company, in a deal guided by Latham & Watkins, Schiff Hardin and Mayer Brown.

  • March 05, 2021

    InterPrivate's Trio Of SPACs Raise Combined $700M In IPOs

    Private equity firm InterPrivate launched three blank-check companies into the public markets Friday after the companies raised a combined $700 million in White & Case LLP-guided initial public offerings.

  • March 05, 2021

    Dole's Win Bolsters Del. Corporations In D&O Coverage Fights

    The Delaware Supreme Court issued a landmark ruling March 3 that state law does not excuse a Dole directors and officers insurer from covering the food company's settlements of fraud-based claims, a decision that will aid other Delaware corporations in similar disputes with their D&O carriers.

  • March 05, 2021

    Taxation With Representation: Latham, Skadden, Sullivan

    In this week's Taxation With Representation, cloud company Okta buys identity authentication company Auth0 for $6.5 billion, Las Vegas Sands sells property holdings for $6.3 billion, and insurance technology company Hippo inks a $5 billion merger.

  • March 05, 2021

    Garrett Motion Strikes Deal With Shareholders On Ch. 11 Plan

    Bankrupt car parts maker Garrett Motion Inc. told a New York bankruptcy judge Friday that it has reached a deal with a shareholder group to increase their share of the reorganized company in exchange for their support for the Chapter 11 plan.

  • March 05, 2021

    3 Firms Rep €1.4B KPS Deal With Norwegian Metals Biz

    Industrial-focused private equity firm KPS said Friday it's buying the aluminum rolling business of aluminum and energy multinational Norsk Hydro ASA for €1.38 billion (about $1.64 billion) in a deal guided by three law firms.

  • March 05, 2021

    Don't Miss It: Davis Polk, Latham Guide Week's Hot Deals

    With so much mergers and acquisitions news this week, you may have missed several deals announced in the last several days helmed by firms such as Davis Polk & Wardwell LLP and Latham & Watkins LLP. Here, Law360 recaps the ones you may have missed.

  • March 05, 2021

    How They Won It: Freshfields Breaks FTC's Winning Streak

    It took 15 months, $640 million and a two-week trial but Evonik managed to close its purchase of fellow hydrogen peroxide producer PeroxyChem last year, days after its Freshfields Bruckhaus Deringer LLP legal team broke the Federal Trade Commission's seven-case winning streak contesting mergers in federal court.

  • March 05, 2021

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen Scotland's ferry services sue its insurer, Britain's new high-speed rail service face another contract challenge and an ex-Qatari prime minister's company hit with a new suit. Here, Law360 looks at those and other new claims in the U.K.

  • March 05, 2021

    3 Firms Craft £2.3B Deal For Mobile Power Provider Aggreko

    Private equity firms I Squared Capital and TDR Capital will shell out £2.3 billion ($3.2 billion) for U.K.-based Aggreko, a mobile power provider on tap for the Tokyo Olympics and Paralympics, in a deal announced Friday that was built by law firms Kirkland & Ellis, Slaughter and May and Dickson Minto.

  • March 05, 2021

    Firms Leveraging Climate Change Know-How To Win Clients

    Law firms are vying to establish themselves as experts on how climate change impacts an ever-expanding array of client interests, putting new spotlights on the work of environmental and energy lawyers that are teaming with disparate practice groups to deliver holistic climate advice.

  • March 04, 2021

    Deals Rumor Mill: Robinhood, Flipkart, Permira

    Robinhood is expected to file for an IPO that could value the online trading app at $20 billion, Indian e-commerce giant Flipkart is considering a SPAC merger, and Permira has offered to buy a $3.7 billion medical device maker. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

  • March 04, 2021

    Kirkland-Led Alternative Senior Care Biz Lands $350M In IPO

    Shares for a senior care enterprise that provides in-home support jumped on the stock exchange Thursday after the Apax Partners-backed company raked in roughly $350 million as part of its initial public offering guided by Kirkland & Ellis and underwriters' counsel Simpson Thacher.

  • March 04, 2021

    Gibson Dunn's M&A Leader Is 1st Woman Elected As Chair

    Gibson Dunn & Crutcher LLP's New York City-based partner Barbara Becker will take the multinational law firm's reins as the first woman to reach its co-terminous chair and managing partner positions in its 131-year history, the firm has announced.

  • March 04, 2021

    UK Food Delivery Startup Deliveroo Eyes Dual-Class IPO

    Amazon-backed U.K. online food delivery company Deliveroo said Thursday it is eyeing a London Stock Exchange initial public offering that will include dual-class shares, following a U.K. proposal to ease rules on such voting arrangements in order to attract more technology companies.

  • March 04, 2021

    CoreLogic Nixes $7B CoStar Bid Over Stock, Regulatory Woes

    Real estate analytics company CoreLogic rejected a sweetened $7.3 billion takeover offer from peer CoStar Group Thursday, citing the latter company's volatile stock price and regulatory uncertainty for the tie-up, in contrast to its pending $6 billion deal with Stone Point Capital LLC and Insight Partners.

  • March 04, 2021

    Latham, S&C Direct $5B SPAC Deal For Insurance Tech Co.

    Insurance technology company Hippo, guided by Latham & Watkins, has agreed to merge with a Sullivan & Cromwell-advised special purpose acquisition company that is led by the co-founder of LinkedIn at an enterprise value of $5 billion, the companies said Thursday.

  • March 03, 2021

    Insurer Owes Dole $12M Over Investor Suits, Del. Justices Say

    Delaware's high court affirmed Wednesday that RSUI Indemnity Co. owes more than $12 million toward $222 million in settlements that Dole Food Co. and its CEO struck to resolve stockholder suits over alleged fraud in a 2013 take-private deal, clarifying that state law permits coverage for claims of fraudulent conduct.

  • March 03, 2021

    Kaepernick's ESG-Focused Blank-Check Biz Raises $300M

    A blank-check company sponsored by former NFL quarterback Colin Kaepernick started trading Wednesday after raising $300 million in an Ellenoff Grossman-led initial public offering.

  • March 03, 2021

    Latham, Ropes Guide $1.07B Boston Scientific-Lumenis Deal

    Boston Scientific will pay $1.07 billion to buy the global surgical business of Israeli medical device company Lumenis, the companies said Wednesday, in a deal developed with help from Latham & Watkins and Ropes & Gray. 

  • March 03, 2021

    Latham, Goodwin Steer Oscar Health's Upsized $1.4B IPO

    Venture-backed health insurer Oscar Health Inc. went public on Wednesday after pricing an upsized $1.4 billion initial public offering, guided by Latham & Watkins LLP and underwriters' counsel Goodwin Procter LLP.

  • March 03, 2021

    4 Firms Craft Michaels' $5B Take-Private Deal With Apollo

    Arts and crafts retail chain Michaels unveiled plans to go private Wednesday through a $5 billion deal with asset management giant Apollo Global, with guidance from Ropes & Gray, Simpson Thacher, Paul Weiss and financial adviser counsel Latham & Watkins.

  • March 03, 2021

    Investment Values Clean Energy Services Biz Uplight At $1.5B

    Debevoise & Plimpton- and Morrison & Foerster-advised Schneider Electric will buy a 30% stake in Uplight, which provides services to energy providers with an aim of transitioning to a clean energy ecosystem, as part of a larger investment round valuing the business at $1.5 billion, the companies said Wednesday. 

  • March 03, 2021

    DLA Guides Carlyle's 141K-Square-Foot Logistics Purchase

    DLA Piper represented Carlyle in connection with a purchase announced Wednesday of a 13,090-square-meter (140,900-square-foot) logistics property in Germany from MAS Real Estate, which had counsel from Hogan Lovells.

  • March 03, 2021

    Kirkland Hires Away Baker Botts Debt Finance Partner

    Kirkland & Ellis LLP recently hired a former Baker Botts LLP finance partner in Houston amid a rise in bankruptcy and restructuring cases in the Southern District of Texas.

Expert Analysis

  • Ethics Tips For Attorneys Telecommuting Across State Lines

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    Attorneys working remotely from jurisdictions in which they are not admitted should take precautionary steps to avoid engaging in unauthorized practice of law, say John Schmidt and Michael Seaman at Phillips Lytle.

  • 6 Ways Legal Employers Can Help Pandemic-Weary Parents

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    Parenting during the pandemic has introduced a series of competing personal and professional obligations for attorneys and professional staff, and even organizations that are supportive of their parent employees can take steps to do better, says Meredith Kahan at Saul Ewing.

  • Charitable Fund Dispute Opens Doors For Litigation Wave

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    Although a California federal court recently ruled a donor-advised fund sponsor did not breach prudent investor standards in Fairbairn v. Fidelity Charitable, the case shows that disgruntled donors may initiate claims against charities over nonbinding advisory privileges, and could introduce a wave of litigation over alleged investment mismanagement, says Karl Mill at Adler & Colvin.

  • Remote Working Tips For Lawyer Trainees And Their Firms

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    The prospect of joining a law firm during the pandemic can cause added pressure, but with a few good practices — and a little help from their firms and supervising attorneys — lawyer trainees can get ahead of the curve while working remotely, say William Morris and Ted Landray at King & Spalding.

  • What Biden's Ethics Pledge Means For Gov't Revolving Door

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    Attorneys at Nossaman look at how President Joe Biden’s ethics pledge goes beyond those of his predecessors by imposing post-employment shadow lobbying and golden parachute restrictions on his administration’s appointees — and how a House bill proposing expansion of federal ethics law could affect enforcement.

  • Opinion

    Punishing Bar Exam Policies On Menstrual Products Must Go

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    Law graduates across the states are sitting for the grueling two-day bar exam this week despite menstruation-related barriers, such as inadequate menstrual product and bathroom access, which could be eradicated with simple policy tweaks, say law professors Elizabeth Cooper, Margaret Johnson and Marcy Karin.

  • Tax Takeaways From India's Proposed Budget

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    Consultants at Deloitte discuss the tax implications of India's latest budget proposals, including the potential benefits for foreign portfolio investors and offshore funds migrating to India's new international financial services center, and the possible rise of M&A costs.

  • Transaction Toolkit For A More Litigious M&A Environment

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    As transaction disputes rise amid evolving market conditions, certain strategies can help companies mitigate risk while remaining live to M&A opportunities, say attorneys at Freshfields.

  • It's Time For Law Firms To Start Loving And Leveraging Data

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    The volume and diversity of data managed by law firms today — from client files to internal financial records — may seem daunting, but when properly organized, good data can help practitioners stay competitive by providing sharper insight into firm resources and cost of work, say Jaron Luttich and Barry Wiggins at Element Standard.

  • A Tough Road Ahead for Democrats' Ambitious Policy Agenda

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    While Democrats in Congress are well on their way to enacting an initial COVID-19 relief bill, they will face challenges when pivoting to President Joe Biden's Build Back Better goals for job creation and economic revitalization, say Russell Sullivan and Radha Mohan at Brownstein Hyatt.

  • Keys To Protecting Clients During Law Firm Dissolution

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    Whether a law firm dissolution is amicable or adversarial, departing attorneys should take steps to maintain their legal and ethical responsibilities toward clients, and beware client confidentiality pitfalls when joining new firms, say John Schmidt and Colin Fitzgerald at Phillips Lytle.

  • Infrastructure Privatization Can Still Be A Useful Model

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    While infrastructure privatizations have fallen out of favor and publicly funded projects are now in the spotlight, budget shortfalls at the state and local level mean that privatization can provide needed capital — but deals should be conducted transparently and with lessons learned from past missteps, says Adam Giuliano at Kaplan Kirsch.

  • When Domestic Securities Fall Outside Scope Of Federal Law

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    The Second Circuit’s recent opinion in Cavello Bay Reinsurance v. Stein, which held a private securities sale was extraterritorial despite several ties to New York, underscores that how transaction agreements are structured could affect whether a deal may be subject to federal securities laws — especially in an increasingly remote world, say attorneys at Cleary.

  • What CFTC Reporting Changes Mean For Pool Operators

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    Jeanette Turner at SEI analyzes how the U.S. Commodity Futures Trading Commission's recent pivot away from pool-specific reporting requirements it implemented after the 2008 financial crisis will change commodity pool operators' disclosure obligations in the coming months.

  • How Case Management Orders Can Support New Attorneys

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    Courts are leading the way in ensuring oral argument opportunities for newer attorneys by incorporating innovative language in a variety of orders, and private parties can and should follow suit by incorporating similar language into case management orders, say Megan Jones and Halli Spraggins at Hausfeld.

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