Private Equity

  • February 05, 2024

    Novo Holdings Buying Biopharma Co. Catalent In $16.5B Deal

    Novo Holdings, the controlling shareholder in Novo Nordisk Foundation, said Monday it has agreed to acquire Catalent in an all-cash transaction that values the pharmaceutical company at $16.5 billion, including debt, about five months after Catalent struck a deal with activist investor Elliott Investment Management to conduct a strategic review. 

  • February 02, 2024

    Platinum Partners Co-Founder To Pay $2.4M In SEC Case

    The U.S. Securities and Exchange Commission announced Friday that it had reached a more than $2.4 million settlement with a Platinum Partners co-founder to resolve claims that he both defrauded investment adviser clients of reinsurance and investment advisory business Beechwood and was a cause of fraud perpetrated on Platinum's clients.

  • February 02, 2024

    Matterport Stockholders Claim 'Unlawful' $220M Share Issue

    Two shareholders of 3D model maker Matterport Inc. have sued a raft of the technology company's directors, officers and investors in Delaware's Court of Chancery, asserting breach of fiduciary duty, corporate waste and unjust enrichment.

  • February 02, 2024

    Consumer Data Co. Cleared To Seek Ch. 11 Plan Votes

    A Pasadena, California-based consumer data gathering platform can solicit votes for a Chapter 11 plan that the company hopes to get confirmed in March, a Delaware bankruptcy judge decided on Friday.

  • February 02, 2024

    Latham Led Firms In January IPOs As New Listings Pick Up

    Latham & Watkins LLP assumed work on more initial public offerings than any other law firm in January, steering five IPOs for companies and underwriters during a month that saw a rise in new listings that could portend additional momentum beyond February.

  • February 02, 2024

    Virginia HBCU Lands Historic Investment From Steinbridge

    Virginia Union University, a historically black school, revealed Friday that it is set to receive a roughly $40 million investment from impact investing firm Steinbridge Group, the largest investment in the university's nearly 160-year history.

  • February 02, 2024

    A&O Advises Apax Fund On £700M Consumer Trend Biz Buy

    Investment group Apax Global Alpha said Friday that its Apax XI Fund had completed the £700 million ($884 million) acquisition of consumer trend forecasting company WGSN from events and data company Ascential PLC.

  • February 02, 2024

    Activist Barington Capital Takes Aim At Toy Giant Mattel

    Activist investor Barington Capital has set its sights on Mattel Inc., the company behind Barbie and other popular toy brands, saying that the business requires "immediate actions" to create long-term value for shareholders.

  • February 02, 2024

    2 Biotech Firms Tap Thawing IPO Market To Raise $239M Total

    Shares of drug developers Fractyl Health Inc. and Alto Neuroscience Inc. began trading with mixed results on Friday after the life sciences startups raised nearly $239 million combined in initial public offerings, guided by three law firms.

  • February 02, 2024

    Taxation With Representation: Simpson, Wachtell Lipton

    In this week's Taxation With Representation, Rise Growth Partners receives a $250 million investment, a group of investors led by Carlyle Group co-founder David Rubenstein acquires a controlling stake in MLB's Baltimore Orioles, The Cigna Group sells multiple Medicare businesses to Health Care Service Corp., and WillScot Mobile buys McGrath RentCorp.

  • February 02, 2024

    HgCapital Trust To Invest £44M In German Insurance Broker

    U.K. investment company HgCapital Trust PLC said Friday that it will invest £44.2 million ($56.4 million) in German insurance brokerage platform GGW Group to help it grow.

  • February 01, 2024

    Kirkland Under Chancery Fire In Space Biz Merger Suit

    Scant disclosures from Kirkland & Ellis LLP about its partners' potential financial stake in a $1.2 billion deal the firm was advising drew sharp scrutiny from Delaware's Court of Chancery at a hearing in Wilmington on Thursday.

  • February 01, 2024

    LivePerson Board Faces Shareholder Suit Over Poison Pill

    Board members of artificial intelligence software company LivePerson face a stockholder derivative action in the Delaware Court of Chancery alleging an activist hedge fund is pushing to prevent LivePerson's sale to a private equity firm.

  • February 01, 2024

    Activist Elliott Gets Etsy Board Seat As Co. Faces Challenges

    Online marketplace Etsy on Thursday revealed that it has added a partner from activist investment firm Elliott Investment Management to its board of directors, a move that comes less than two months after Etsy announced a reorganization that included cutting around 11% of its workforce.

  • February 01, 2024

    Albertsons, Kroger Slam Shoppers' Last Shot To Fight Merger

    Albertsons and Kroger urged a California judge Wednesday to toss for good a challenge to the grocers' proposed $24.6 billion merger, saying the customers' second amended complaint "parrots" arguments the court previously rejected for lack of standing.

  • February 01, 2024

    Golf's Existential Crisis Just Got A $3 Billion Jolt

    The restructuring of professional golf began to take shape this week with a $3 billion outside investment for the PGA Tour, leaving attorneys and academics with even more questions about the flagship promotion's already murky negotiations with its Saudi-backed rival LIV Golf.

  • February 01, 2024

    Deals Rumor Mill: Aramco, Reddit IPO, Figure AI

    Saudi Arabia is planning a follow-on offering of state-run oil giant Saudi Aramco that could raise $10 billion, Reddit is being advised to pursue a $5 billion valuation in its coming IPO, and Microsoft and OpenAI are considering investing $500 million in a humanoid robotics startup. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • February 01, 2024

    Cell Therapy Firm Kyverna Eyes $200M IPO As Pipeline Builds

    Autoimmune diseases-focused drug developer Kyverna Therapeutics Inc. on Thursday unveiled a price range for an estimated $200 million initial public offering, guided by Paul Hastings LLP and underwriters counsel Covington & Burling LLP, joining an IPO pipeline that has become more promising for life sciences firms.

  • February 01, 2024

    Kirkland Adds 5 Goodwin Investment Fund Attys In DC

    Kirkland & Ellis LLP said Thursday it is growing its investment funds group with the addition of five attorneys from Goodwin Procter LLP.

  • February 01, 2024

    Rise Growth Partners Lands $250M Investment From PE Firm

    Rise Growth Partners, advised by Kilpatrick Townsend & Stockton LLP, said Thursday it had received a $250 million investment from middle-market private equity firm Charlesbank Capital Partners, led by Simpson Thacher & Bartlett LLP, that will be used to acquire minority stakes in registered investment adviser firms.

  • February 01, 2024

    Dentons Adds Venture Tech Pro From Nelson Mullins In Miami

    Dentons announced Thursday it is continuing recent growth in its venture capital and emerging companies practice with a new partner in Miami who comes from Nelson Mullins Riley & Scarborough LLP and specializes in matters involving Latin America and Brazil.

  • February 01, 2024

    Foley & Lardner Hires Investment Management Partner In NY

    Foley & Lardner has added a partner to its fund formation and investment management practice group whose experience includes counseling clients on the formation and management of private equity and real estate funds, and guiding them through investigations from regulators like the U.S. Securities and Exchange Commission. 

  • February 01, 2024

    Debevoise-Led KKR Clinches $6.4B Asia Infrastructure Fund

    Private equity giant KKR, advised by Debevoise & Plimpton LLP, has closed its second Asia Pacific-focused infrastructure fund after securing $6.4 billion of capital commitments, making the fund the largest pan-regional infrastructure fund to have been raised for Asia Pacific to date.

  • January 31, 2024

    Davis Polk, Latham Lead Amer Sports' Below-Range $1.4B IPO

    Amer Sports Inc., which owns the iconic brands Wilson tennis rackets and Louisville Slugger baseball bats, priced its initial public offering Wednesday at just under $1.4 billion, below its price range, represented by Davis Polk & Wardwell LLP and underwriters counsel Latham & Watkins LLP.

  • January 31, 2024

    Norton Rose-Led FibroBiologics Pulls Off Direct Listing

    Shares of drug developer FibroBiologics Inc. debuted in trading Wednesday after the chronic-disease focused company completed a direct listing, an alternative to a traditional initial public offering, represented by Norton Rose Fulbright LLP.

Expert Analysis

  • Series

    ESG Around The World: Japan

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    Japan is witnessing rapid developments in environmental, social and corporate governance policies by making efforts to adopt a soft law approach, which has been effective in encouraging companies to embrace ESG practices and address the diversity of boards of directors, say Akira Karasawa and Landry Guesdon at Iwata Godo.

  • How And Why Your Firm Should Implement Fixed-Fee Billing

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    Amid rising burnout in the legal industry and client efforts to curtail spending, pivoting to a fixed-fee billing model may improve client-attorney relationships and offer lawyers financial, logistical and stress relief — while still maintaining profit margins, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • Opinion

    Judicial Independence Needs Defense Amid Political Threats

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    Amid recent and historic challenges to the judiciary from political forces, safeguarding judicial independence and maintaining the integrity of the legal system is increasingly urgent, says Robert Peck at the Center for Constitutional Litigation.

  • How Law Firms Can Use Account-Based Marketing Strategies

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    Amid several evolving legal industry trends, account-based marketing can help law firms uncover additional revenue-generating opportunities with existing clients, with key considerations ranging from data analytics to relationship building, say Jennifer Ramsey at stage LLC and consultant Gina Sponzilli.

  • Strategic Succession Planning At Law Firms Is Crucial

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    Senior partners' reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior ranks and provide clearer leadership pathways to junior attorneys, says Laura Leopard at Leopard Solutions.

  • The Impact Of Proposed HSR Form Changes On Agency Staff

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    The Federal Trade Commission's recent proposed changes to the Hart-Scott-Rodino Notification and Report Form will have the unintended effect of drastically increasing the burden on agency staff without an appreciable increase in their ability to detect potentially anti-competitive transactions, say Amanda Wait and Andrew Eklund at Norton Rose.

  • FTC's Health Co. Suit Indicates Agency's Private Equity Focus

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    The Federal Trade Commission's latest lawsuit against an anesthesia company and its private equity investor highlights the agency's willingness to regulate the health care industry even when relevant acquisitions are relatively dated or when the controlling entity's economic interest is under 50%, say attorneys at Simpson Thacher.

  • Top 4 Antitrust Enforcement Issues In Health Care Today

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    The Federal Trade Commission's recent lawsuit against U.S. Anesthesia Partners exemplifies antitrust enforcement authorities' efforts to aggressively reshape the health care industry, ranging from new proposed rules to withdrawals of previous guidance, say attorneys at Fried Frank.

  • Calif. Climate Disclosure Bills Promise Challenges For Cos.

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    Two novel climate disclosure bills recently passed by the California Legislature will pose challenges for many businesses — especially private companies that are less familiar with climate-related reporting obligations — and will require investments of significant time and effort in processes, procedures and personnel, say John Rousakis and Chris Bowman at O'Melveny.

  • Maximizing Law Firm Profitability In Uncertain Times

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    As threats of an economic downturn loom, firms can boost profits by embracing the power of bottom-line management and creating an ecosystem where strategic financial oversight and robust timekeeping practices meet evolved client relations, says Shireen Hilal at Maior Strategic Consulting.

  • Fintech Cos. Should Consider Asset-Based Financing For RE

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    Fintech companies that own or plan to acquire real property may be able to utilize asset-based financings to access more efficient and cost-effective forms of capital beyond traditional venture capital sources, say attorneys at Mayer Brown.

  • SEC Risk Alert Provides Helpful Info For Adviser Exam Prep

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    The U.S. Securities and Exchange Commission's recent risk alert makes clear that as the registered investment adviser population continues to grow in size and complexity, the Division of Examinations will keep pace by examining a significant number of advisers each year through its sophisticated and coordinated program, say attorneys at Simpson Thacher.

  • Alleged $636M Deal Error Highlights Ethics Considerations

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    Adelman v. Proskauer, a malpractice suit that allegedly arose from a cut-and-paste error resulting in potential damages of $636 million, presents an intriguing juxtaposition of facts and legal issues — and practical ethical considerations for transactions attorneys, says Richard Leisner at Trenam Law.

  • 5th Circ. Ruling Reminds Attys That CBP Can Search Devices

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    The Fifth Circuit’s recent Malik v. Department of Homeland Security decision adds to the chorus of federal courts holding that border agents don’t need a warrant to search travelers’ electronic devices, so attorneys should consider certain special precautions to secure privileged information when reentering the U.S., says Jennifer Freel at Jackson Walker.

  • Alleged $636M Deal Error Shows Value Of Old-School Methods

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    Though Proskauer Rose has now settled claims involving a copy-paste error in deal documents that could have resulted in $636 million in damages, the debacle reminds attorneys that classic revision methods using paper copies can help avoid drafting errors and actually save time in the long run, says Richard Leisner at Trenam.

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