Private Equity

  • November 25, 2020

    Pryor Cashman Guides SBE In $300M AccorHotels Takeover

    Pryor Cashman LLP has represented SBE Entertainment Group in AccorHotels' $300 million cash purchase of the hospitality company's remaining 50% interest, completing the Paris-based hotel giant's takeover that began with its 2018 purchase of a 50% stake in SBE's luxury hotel brands.

  • November 25, 2020

    Goodwin Steers Mass Spectrometry Biz Eyeing $75M IPO

    Mass spectrometry company 908 Devices on Wednesday filed for an initial public offering guided by Goodwin Procter LLP that is preliminarily estimated to bring in about $75 million.

  • November 25, 2020

    Media, Energy-Focused SPACs Raise $561M In Market Debuts

    Two blank-check companies, one led by former Disney executives and the other backed by Apollo Global Management, started trading Wednesday after raising a combined $561 million in initial public offerings.

  • November 25, 2020

    PE Firm INNIO Sues GE Over Failed $3B Deal

    A private equity firm sued in London over its $3 billion purchase of a General Electric power unit has hit back with its own suit, accusing the conglomerate of making key omissions in financial statements used to evaluate the final price of the deal.  

  • November 25, 2020

    Linklaters Steers £219M PE Bid For UK Motor Insurer

    Motor insurer AA PLC said on Wednesday that it has accepted a £219 million ($290 million) takeover bid by two private equity companies in a deal that will result in more money being invested in the struggling company.

  • November 24, 2020

    Railroad Operator's Fees Must Be Covered, Chancery Says

    A Delaware vice chancellor ruled Tuesday that American Rail Partners LLC must cover legal expenses incurred by a railroad ownership company that it sued over unjust enrichment claims, saying an agreement in place "unambiguously" provides that expenses be covered.

  • November 24, 2020

    4 Firms Steer TransDigm's $965M Deal For Aerospace Biz

    Aerospace company TransDigm said Tuesday it will buy U.K.-based antenna and radio business Cobham Aero Connectivity in a roughly $965 million deal steered by BakerHostetler, Reed Smith, Jones Day and Weil Gotshal.

  • November 24, 2020

    Debevoise Guides Russian E-Commerce Firm's Near-$1B IPO

    Russian e-commerce platform Ozon Holdings PLC went public Tuesday after raising nearly $1 billion in an upsized initial public offering, steered by Debevoise & Plimpton LLP and underwriters counsel Latham & Watkins LLP.

  • November 24, 2020

    How Firms Can Prep For A More 'Aggressive' SEC

    With a Joe Biden presidency around the corner and U.S. Securities and Exchange Commission Chairman Jay Clayton officially announcing he'll depart by year-end, industry attorneys believe in-house legal and compliance professionals at financial firms should expect a more aggressive incoming enforcement regime.

  • November 24, 2020

    SEC Proposes Easing Stock Sales Rules For 'Gig' Workers

    A divided U.S. Securities and Exchange Commission proposed rules on Tuesday easing how private companies can compensate workers through stock, including short-term "gig" workers who are not traditional employees and depend on equity absent a steady paycheck.

  • November 24, 2020

    K&L Gates, Simpson Guide First Reserve's $194M Energy Deal

    Electrical transmission and distribution company The Goldfield Corp. said Tuesday it will be acquired by private equity firm First Reserve at a $194 million enterprise value, in a deal guided by Simpson Thacher & Bartlett LLP and K&L Gates LLP.

  • November 24, 2020

    Northwest Hardwoods Plans Speedy Trip Through Ch. 11

    Lumber producer Northwest Hardwoods Inc. told a Delaware judge Tuesday it plans a speedy trip through Chapter 11 and aims to emerge from bankruptcy early next year with roughly $270 million of its debt wiped out and most of its ownership stake handed over to lenders.

  • November 24, 2020

    Dechert Steers $15B Tie-Up Of FS KKR Biz Development Cos.

    Business development companies FS KKR Capital Corp. and FS KKR Capital Corp. II said Tuesday they plan to merge into a single entity with about $14.9 billion in assets under management, a deal arranged with help from Dechert LLP.

  • November 24, 2020

    McCormick Swallows Cholula Hot Sauce In $800M Deal

    U.S. spice giant McCormick & Co., counseled by Cleary Gottlieb, has agreed to swallow Cholula Hot Sauce from Kirkland & Ellis-advised private equity firm L Catterton for $800 million, the companies said Tuesday.

  • November 23, 2020

    SPAC Links Up With 2 Cos. To Form $1.35B Telehealth Giant

    A special purpose acquisition company launched by serial blank check company creator GigCapital Global unveiled plans Monday to merge with digital health care provider UpHealth and telemedicine solutions provider Cloudbreak to forge a publicly traded telehealth business with an enterprise value of $1.35 billion, in a deal guided by DLA Piper, Husch Blackwell and Sidley Austin.

  • November 23, 2020

    Ex-GC Drops Falsification Suit Against Cash Advance Co.

    A former general counsel for cash advance business Five Hole LLC agreed Monday to drop a suit that claimed the company's chief financial officer falsified records so he and other executives could receive bonuses, telling the court he no longer believed his claims had merit.

  • November 23, 2020

    Latham-Led Life Sciences Co. Debuts With $800M In Backing

    Latham & Watkins-led National Resilience Inc., a new life sciences company focused on "reimagining biopharmaceutical manufacturing" including by helping increase the overall production of therapeutics, launched on Monday with more than $800 million in capital backing from the likes of Arch Venture Partners and 8VC.

  • November 23, 2020

    IAnthus, Cannabis PE Firm Want Securities Suit Tossed

    Canadian cannabis company iAnthus Capital Holdings Inc. and investor Gotham Green Partners have asked a New York federal court to toss claims brought by a shareholder over iAnthus' allegedly self-interested financing deals with Gotham Green.

  • November 23, 2020

    SEC Fights To Call Spartan 'Shell Factory' At Trial

    The U.S. Securities and Exchange Commission urged a Florida federal court on Friday to reject Spartan Securities' bid to block the use of the term "shell factory" in an upcoming trial over allegations that the broker-dealer was complicit in the creation of sham companies that allegedly fraudulently sold stock.

  • November 23, 2020

    NY Judge Exits Sex Bias Suit Targeting Fellow School Parent

    A New York federal judge recused himself from a former First Eagle Investment Management LLC research analyst's race and sex bias lawsuit against her former employer, saying Friday that his child went to the same school as the child of one of the individual defendants.

  • November 23, 2020

    Fenwick Guides Rocket Builder In $500M Fundraise

    Three-dimensional printing company Relativity Space said Monday it raised $500 million with help from Fenwick & West LLP, funds the company said would help it "build toward humanity's multiplanetary future."

  • November 23, 2020

    5 Firms Guide Rental Co.'s Increased $2.5B Offer

    Following an unsolicited, competing offer from an unnamed third party, rental home company Front Yard said Monday it's agreed to a $100 million increase from its terms last month for its take-private deal with Pretium and funds affiliated with Ares Management in a transaction guided by five law firms valuing it at $2.5 billion.

  • November 23, 2020

    Guitar Center Hits Ch. 11 With Plan To Cut $800M In Debt

    Musical instrument retailer Guitar Center has filed for Chapter 11 protection in Virginia with a plan in hand to slash roughly $800 million in debt, citing the COVID-19 pandemic and the company's high existing debt load.

  • November 23, 2020

    Pandemic Puts Lumber Giant Northwest Hardwood Into Ch. 11

    Private equity-owned Northwest Hardwoods Inc., the nation's largest hardwood lumber producer, retreated into Chapter 11 in Delaware early Monday, saying fallout from trade disputes with China and the blighting of markets by the COVID-19 pandemic had stunted its ability to service more than $420 million in secured debt.

  • November 20, 2020

    Pair Of Health-Focused Cos. Tap Market For $2.7B Via IPOs

    Two health-focused companies, including a supplier used by coronavirus vaccine makers, kicked off trading Friday as they raised a total $2.7 billion through initial public offerings.

Expert Analysis

  • Ethics Reminders As Employees Move To Or From Gov't

    Author Photo

    Many organizations are making plans for executives to go into government jobs, or for government officials to join a private sector team, but they must understand the many ethics rules that can put a damper on just how valuable the former employee or new hire can be, say Scott Thomas and Jennifer Carrier at Blank Rome.

  • Expect 2021 SEC To Turn Hawkish On Auditor Enforcement

    Author Photo

    President-elect Joe Biden's U.S. Securities and Exchange Commission will almost certainly usher in a reversal of recent years' slow pace of auditor enforcement — just 11 actions this year — back up toward the levels of the Obama administration's Operation Broken Gate, say Charles Smith and Andrew Fuchs at Skadden.

  • Del. Solera D&O Decision May Have Limited Impact

    Author Photo

    While the Delaware Supreme Court's recent decision in Solera is a blow for companies in the state seeking protection for certain key appraisal proceedings, the ruling hinges on the insurers' narrow definition of a violation that will trigger directors and officers coverage for securities-related claims, making it unlikely that other jurisdictions will follow suit, say attorneys at Hunton.

  • A Key To Helping Clients Make Better Decisions During Crisis

    Author Photo

    As the pandemic brings a variety of legal stresses for businesses, lawyers must understand the emotional dynamic of a crisis and the particular energy it produces to effectively fulfill their role as advisers, say Meredith Parfet and Aaron Solomon at Ravenyard Group.

  • Ethics Considerations For Law Firms Implementing AI

    Author Photo

    Richard Finkelman and Yihua Astle at Berkeley Research Group discuss the ethical and bias concerns law firms must address when implementing artificial intelligence-powered applications for recruiting, conflict identification and client counseling.

  • 3rd Circ. Could Select Middle Path On Foreign Discovery Law

    Author Photo

    In a circuit split over whether a U.S. foreign discovery law may be used for private arbitration, the Third Circuit in Axion Holding Cyprus may choose a middle ground by finding that private arbitration under the U.K. Arbitration Act involves sufficient judicial oversight to make it subject to the statute, says Adrienne Koch at Katsky Korins.

  • Picking The Right Location And Tools For Virtual Courtrooms

    Author Photo

    Attorneys should consider the pros and cons of participating in virtual court proceedings from home versus their law firm offices, and whether they have the right audio, video and team communication tools for their particular setup, say attorneys at Arnold & Porter.

  • Beware Atty Ethics Rules When Reporting COVID-19 Fraud

    Author Photo

    Attorneys considering blowing the whistle on False Claims Act violations by recipients of COVID-19 relief may face a number of ethical constraints on their ability to disclose client information and file qui tam actions, say Breon Peace and Jennifer Kennedy Park at Cleary.

  • Looking For Judicial Activists? Check The Footnotes

    Author Photo

    U.S. Supreme Court nominees typically face intense questioning over potential judicial activism, but a better way to gauge judges' activist tendencies may be to look at the footnotes in their opinions, say Christopher Collier at Hawkins Parnell and Michael Arndt at Rohan Law.

  • Best Practices For Legal Technology Adoption

    Author Photo

    The pandemic has accelerated the need to improve the practice of law through technology, but law firms and in-house legal departments must first ensure they have employee buy-in and well-defined processes for new digital tools, say Dan Broderick at BlackBoiler and Daryl Shetterly at Orrick.

  • The Pandemic's Long-Term Impact On Law Firm Operations

    Author Photo

    Brian Burlant at Major Lindsey looks at how pandemic-era remote work has changed the way law firms operate — from shifts in secretarial functions to associate professional development — and explains why some alterations may be here to stay.

  • Opinion

    Lack Of Access To Remote Court Proceedings Is Inexcusable

    Author Photo

    Blanket rules that bar recording or dissemination of remote public court proceedings impede presumptive common law and First Amendment right of access, greatly expand courts' powers over nonparties, and likely run afoul of U.S. Supreme Court precedent, says Matthew Schafer at ViacomCBS.

  • Opinion

    Why Attacks On Trump's Election Lawyers Are Problematic

    Author Photo

    The vilification of Jones Day and Porter Wright for their involvement in President Donald Trump's election lawsuits is an attack on lawyers' duty to advocate for their clients' causes fearlessly and zealously within the bounds of the law, says Pierce O'Donnell at Greenberg Glusker.

  • Advancing The Democratic Tax Agenda In 2021

    Author Photo

    Even with a divided government starting next year, Democrats will have a major effect on tax policy, pursuing legislative compromises and regulatory changes in service of President-elect Joe Biden's tax plan, and potentially reversing many Trump administration initiatives, say Russell Sullivan and Radha Mohan at Brownstein Hyatt.

  • M&A Poised For Growth In The Biden Era

    Author Photo

    The M&A market is well positioned for recovery and growth under a Biden administration and divided Congress, which will likely gain control over the coronavirus pandemic, pass a stimulus package, and provide greater transparency in antitrust enforcement, say attorneys at Debevoise.

Want to publish in Law360?


Submit an idea
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!