The last week has seen a competition suit against Royal Mail, a Saint-Gobain unit lodge a patent claim against 3M and a Russian bank file another suit against Mozambique and one of the state-owned entities embroiled in a $2 billion bribery scandal. Here, Law360 looks at those and other new claims in the U.K.
Renters and home insurance provider Lemonade's shares traded Thursday in an upsized $319 million initial public offering with shares peaking 144% above the offering price, in a deal advised on by Latham & Watkins LLP and White & Case LLP.
With so much mergers and acquisitions news this week, you may have missed multiple deals announced in the last several days helmed by firms such as Cooley and Weil. Here, Law360 recaps the ones you may have missed.
Despite the pandemic, the first half of 2020 saw epic judicial gear-shifting but no real slowdown in Delaware's key business courts, with new Chancery Court complaints actually picking up and important corporate and commercial law decisions regularly emerging from remotely conducted proceedings.
Uber hopes to pay $2.6 billion for Postmates, a group of Japanese entities is investing $14.4 billion in a gas project in Mozambique, and a new funding round will value Chinese groceries delivery app XingSheng at $3 billion. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.
Singapore's competition authority on Thursday raised concerns about the London Stock Exchange's planned $27 billion takeover of Refinitiv, saying the blockbuster deal could affect the market for foreign exchange rates.
New York-based investment firm Angelo Gordon & Co. LP said Thursday that its latest real estate fund raised $1.5 billion that will be used to target all types of property in the U.K., the Nordic countries and Western Europe.
The initial public offering market ended midyear on a roll and appears poised for a strong second half of 2020, powered by a robust biotechnology sector and potential debuts from venture-backed technology "unicorns" — barring more pandemic-related setbacks.
Kennet Partners Ltd., advised by Fried Frank, said Thursday that it finalized its fifth fund after securing $250 million from limited partners, with plans to invest in technology companies that were formed without external capital across Europe, the U.K. and the U.S.
The coronavirus pandemic contributed to a significant dip in overall private equity fundraising during the second quarter, but some fund managers were still able to clinch massive, multibillion-dollar vehicles, and the largest funds from the quarter highlight industry trends like an increasing interest in distressed assets, technology and secondaries.
White & Case and Hogan Lovells were among more than a dozen firms that helped with the 10 largest real estate mergers and acquisitions deals of the second quarter, five of which were north of the $1 billion mark.
The U.S. House of Representatives passed a bill Wednesday to reopen the Paycheck Protection Program through Aug. 8, sending the Senate-approved measure to the president as lawmakers discuss a possible second round of forgivable loans.
Israeli cybersecurity software company Tufin overstated its business prospects in North America in the lead-up to its $108 million initial public offering, teeing up a drop in its stock price when the company underperformed, an investor told a New York state court Wednesday.
The private equity-backed parent company of cannabis magazine High Times said it has entered into an acquisition agreement with a California cannabis delivery service, which the company said would give it distribution hubs in the Golden State as it seeks to break into retail marijuana.
Clinical-stage biopharmaceutical company Annexon said Wednesday it raised $100 million from private backers to advance its pipeline of potential therapies for autoimmune, brain and eye disorders.
Special purpose acquisition company Panacea Acquisition Corp. debuted in public markets Wednesday after completing a $125 million initial public offering intended to fund a biotechnology acquisition, guided by Skadden Arps Slate Meagher & Flom LLP and underwriters counsel Greenberg Traurig LLP.
Shares for data and analytics service Dun & Bradstreet began trading on the New York Stock Exchange on Wednesday in an upsized initial public offering that raised $1.7 billion — the third largest this year — in a deal advised on by Weil Gotshal & Manges LLP and Latham & Watkins LLP.
Represented by Kirkland & Ellis, KKR said Wednesday it paid $260 million for two industrial distribution properties totaling about 2.5 million square feet located in the Midwest and the South.
Carlyle, advised by L&L Partners and Freshfields, will pay $235 million for a stake in the data center business of Indian telecommunications giant Bharti Airtel, the companies said Wednesday, in an agreement that values the unit at $1.2 billion and strengthens the private equity firm's portfolio of data center assets.
Market participants on Tuesday urged U.S. Securities and Exchange Commission officials to improve consistency in public company disclosures on matters ranging from how the pandemic is impacting operations to how businesses are addressing social concerns like diversity, so investors can make apples-to-apples comparisons among different companies.
Prologis has reportedly paid $24.53 million for a Miami development site, Oceanwide Holdings' roughly $1 billion deal to sell a San Francisco mixed-use project has reportedly hit another delay, and Valley National Bank is said to have loaned $10.55 million for a Florida self-storage project.
A Canadian cannabis holding company with properties in several U.S. states has invoked force majeure to delay an interest payment on $35 million in debt, saying the coronavirus pandemic has made raising capital "virtually impossible."
Kidney disease-focused biotechnology company Goldfinch Bio Inc. has raised $100 million in a financing round led by Eventide Asset Management and attracting new investors including funds managed by BlackRock Investment LLC, in a deal worked on by Ropes & Gray LLP, the company said Tuesday.
B Capital Group, a tech-focused investment firm formed by the co-founder of Facebook and an ex-Bain Capital executive, said Tuesday that it has wrapped up its second fund after securing $820 million from investors, with assistance from Ropes & Gray LLP.
American restaurant chain BurgerFi agreed to a $100 million merger with private equity affiliated blank check company OPES Acquisition Corp., the companies said Tuesday, in a deal guided by Loeb & Loeb and Shumaker Loop & Kendrick.
Attorneys at Reed Smith discuss five takeaways from the new annual report of the Committee on Foreign Investment in the United States, which assessed the 229 notices and 21 declarations filed for CFIUS' review in 2018 and provided a first look at the impact of the Foreign Investment Risk Review Modernization Act.
The U.S. Securities and Exchange Commission's recently settled enforcement action against Ares Management demonstrates that private fund managers with potential insider info should systematically investigate trading approvals in situations that present a heightened risk of access to material nonpublic information, say attorneys at Debevoise.
It has long been the law that attorneys cannot use percentage rental agreements because doing so would constitute an impermissible sharing of fees with nonlawyers, but such arrangements can help lawyers match expenses with revenues in lean times like now, say Peter Jarvis and Trisha Thompson at Holland & Knight.
A California state appellate court's recent decision in Masellis v. Law Office of Leslie F. Jensen provides a road map for proving causation and damages in settle-and-sue legal malpractice cases — an important issue of long-standing confusion, says Steven Berenson at Klinedinst.
Lenders and borrowers in the COVID-19 Main Street Lending Program can steer clear of litigation roadblocks with proactive compliance measures, but the U.S. Department of Justice should also facilitate the program's objectives by issuing a policy statement limiting False Claims Act actions, say Robert Huffman and Caroline Wolverton at Akin Gump.
The compliance date has arrived for two rules adopted by the U.S. Securities and Exchange Commission last year — Regulation Best Interest and the Form CRS Relationship Summary — and there are many regulatory developments and legal questions that in-house counsel and compliance professionals should consider, say attorneys at Eversheds Sutherland.
Mediation conducted online with participants in different states makes it harder to determine where communications were made, increasing the risk that courts will apply laws of a state that does not protect mediation confidentiality, say mediators Jeff Kichaven and Teresa Frisbie and law student Tyler Codina.
In light of the regulatory attention on private equity investment activity, as well as the recent decline in M&A activity and increase in private investments in public equity, the Federal Trade Commission or U.S. Department of Justice may decide to examine for the first time a PIPE transaction that raises competitive questions, say Peter McCormack and Laura Sullivan at Kirkland.
Emerging disputes over whether the COVID-19 crisis has triggered a merger transaction’s material adverse effect clause shine a spotlight on the importance of showing whether the pandemic has disproportionately impacted particular industries and companies, say David Tabak and Edward Flores at NERA.
As I learned after completing a recent international arbitration remotely, with advance planning a video hearing can replicate the in-person experience surprisingly well, and may actually be superior in certain respects, says Kate Shih at Quinn Emanuel.
Private equity firms targeting government contractors that receive preferential treatment in federal procurement should know how to spot red flags that result in loss of small-business status and the deal structures that mitigate this risk, say Elizabeth Leavy and Robert McCann at Reed Smith.
If law firms are truly serious about making meaningful change in terms of diversity, they must adopt a demographically neutral, unbiased hiring equation that looks at personality traits with greater import than grades and class rank, says Thomas Latino at Florida State University College of Law.
Now that the U.S. no longer considers Hong Kong autonomous from China, stateside financial services companies should monitor public company audit reporting, non-U.S. futures and swaps trading, and international capital reporting, say Matthew Kluchenek and Matthew Bisanz at Mayer Brown.
With large swaths of the population indoors and primarily online, cybercriminals will be able to exploit law firms more easily now than ever before, but some basic precautions can help, says Joel Wallenstrom at Wickr.
Now that law firms are on board with fully remote work environments, they must develop policies that match in-office culture and align partner and associate expectations, says Summer Eberhard at Major Lindsey.