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Private Equity
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October 31, 2024
Playboy Gets PE Investment After Rejecting Takeover Bid
The owner of Playboy, PLBY Group Inc., on Thursday announced that it had secured a "significant" equity investment from privately held online entertainment company Byborg Enterprises SA.
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October 31, 2024
The 2024 Law360 Pulse Leaderboard
Check out the Law360 Pulse Leaderboard to see which firms made the list of leaders in all-around excellence this year.
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October 31, 2024
Firms' Hiring Strategies Are Evolving In Fight For Top Spot
Competition for top talent among elite law firms shows no signs of slowing down, even amid economic uncertainty, with financially strong firms deploying aggressive strategies to attract and retain skilled professionals to solidify their market position.
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October 31, 2024
IFC Projects Must Do More On Emissions, Report Says
An accountability arm of the International Finance Corp. is encouraging it to bolster its methods to identify and mitigate greenhouse gas emissions from financed projects, saying its current approaches are not fully up to date and limit its effectiveness in addressing global warming.
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October 31, 2024
Blank Rome Adds Commercial Real Estate Expert In DC
The former president and general counsel of Edge Funds Management LLC has joined Blank Rome LLP as an of counsel in the real estate group.
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October 30, 2024
Brookfield Scoops UK Wind Farms Assets In $2.3B Deal
Brookfield has agreed to buy a minority stake in four of Danish multinational energy company Orsted's operational U.K. offshore wind farms in a deal valued at £1.745 billion ($2.27 billion), Orsted announced Wednesday.
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October 30, 2024
Kirkland Leads Berkshire Partners To $7.8B Fund Close
Boston-based private equity shop Berkshire Partners, advised by Kirkland & Ellis LLP, announced on Wednesday that it clinched its largest fund ever after securing $7.8 billion in investor commitments.
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October 30, 2024
AI-Focused SPAC Joins Pipeline With $200M IPO Filing
Archimedes Tech SPAC Partners II Co., a special purpose acquisition company targeting the artificial intelligence industry, filed plans on Wednesday for an estimated $200 million initial public offering, while another SPAC, energy-transition focused Tavia Acquisition Corp., downsized plans.
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October 30, 2024
KKR, ECP To Plug $50B Into Data Centers, Power Projects
Private equity firms KKR & Co., advised by Simpson Thacher, and Energy Capital Partners have teamed up to inject $50 billion into building data centers and energy generation projects in a bet on meeting rising demand for infrastructure to support the artificial intelligence boom.
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October 30, 2024
Cleary-Led UK Investor To Buy Data Security Biz For £169M
Bridgepoint said Wednesday that its subsidiary has agreed to buy data security firm Eckoh PLC for £169.3 million ($220 million), as the British private investor seeks a slice of the growing global digital safety sector.
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October 30, 2024
Kirkland-Led Francisco Paying $1.1B For AdvancedMD
Kirkland & Ellis LLP is guiding Francisco Partners on an agreement disclosed Wednesday to buy medical payments company AdvancedMD from Global Payments for $1.125 billion.
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October 30, 2024
Akin Gump Bolsters PE Team With Ex-Greenberg Traurig Atty
Akin Gump Strauss Hauer & Feld LLP announced the addition of a private equity transactions attorney joining the firm in New York on Wednesday, saying the former Greenberg Traurig LLP shareholder will support the firm's position in the private capital market.
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October 29, 2024
Argent Strikes Symbria ESOP Suit Settlement Deal
A class of Symbria Inc. workers alleging mismanagement of their employee stock ownership plan told an Illinois federal court they had reached a settlement with ESOP trustee Argent Trust Co. to end their federal benefits lawsuit.
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October 29, 2024
Sham Getty Stock Offer Lands Investor 10-Month Prison Term
A former Massachusetts corporate executive will serve 10 months in prison for launching a sham takeover bid for Seattle-based Getty Images Holdings to drive up its share price and make hundreds of thousands of dollars in profit, a Boston federal judge said Tuesday.
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October 29, 2024
Greenberg Traurig Adds Bradley Arant Banking Ace In Dallas
Greenberg Traurig LLP has brought on a former Bradley Arant Boult Cummings LLP counsel to its Dallas office to meet client demand, bolstering the firm's expertise in guiding banks on financial regulatory compliance and enforcement matters with a former senior attorney for the Federal Deposit Insurance Corp., the firm announced Tuesday.
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October 29, 2024
Warren Pushes FTC Chair To Probe Oncology Acquisitions
Massachusetts Sen. Elizabeth Warren on Tuesday urged the Federal Trade Commission to scrutinize McKesson Corp.'s proposed $2.49 billion acquisition of a controlling stake in Core Ventures, and Cardinal Health's proposed $1.12 billion purchase of a controlling stake in Integrated Oncology, saying the deals would further consolidate the "already highly consolidated" oncology market.
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October 29, 2024
Burns & Levinson Atty Duo Latest To Join Blank Rome
Blank Rome has announced it added a pair of attorneys from Burns & Levinson to its office in Boston, a move that the firm said bolsters its litigation and corporate capabilities and serves as the latest example of lawyers moving between the two firms since Blank Rome opened the office in April with 25 Burns & Levinson corporate and finance attorneys.
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October 29, 2024
M&A Rebounded As Equity Issuance, IPOs Faltered In Q3
The number of global M&A deal announcements increased for the second consecutive quarter in the third quarter, but global equity issuance and IPO activity slowed, according to a Tuesday report from S&P Global Market Intelligence.
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October 29, 2024
Front Office Sports Sued For Using Luxury Real Estate Photos
Private equity-backed media outlet Front Office Sports is accused of unlawfully using luxury real estate photos online without permission, according to a lawsuit filed in New York federal court.
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October 29, 2024
Crescent Inks Oncology Merger With $200M In Private Funding
Crescent Biopharma Inc. has agreed to take fellow cancer-focused biotech GlycoMimetics Inc. private in a deal that includes $200 million of investments from well over a dozen firms to help fund the combined company's operations through 2027, GlycoMimetics revealed Tuesday.
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October 29, 2024
PE-Owned Implant Maker Plagued By Lawsuits Hits Ch. 11
Joint implant maker Exactech Inc. on Tuesday filed for Chapter 11 protection in Delaware bankruptcy court with an offer from its lenders to take over the company, as a wave of lawsuits tied to product recalls weighs on the private equity-owned firm.
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October 29, 2024
Blackstone Brings In $22B Total For Direct Lending Platform
Private equity giant Blackstone, advised by Simpson Thacher & Bartlett LLP, on Tuesday revealed that it successfully closed its inaugural evergreen institutional U.S. direct lending fund after securing a total of $22 billion in capital commitments.
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October 28, 2024
Masimo Sues Founder Over Alleged 'Empty Voting' Scheme
Masimo Corp. has sued its founder for allegedly conspiring with an investment firm and company stockholder to manipulate a shareholder vote in order to maintain his seat on the medical technology company's board of directors.
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October 28, 2024
Ex-Atty Charged With $9.2M Commodities Ponzi Scheme
Federal prosecutors have charged a former New Orleans-based attorney with operating a Ponzi scheme, saying he promised dozens of individuals that he would invest their $9.2 million in low-risk commodities when he was really using the funds to gamble and to pay off personal expenses.
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October 28, 2024
Ex-Oracle Manager, Software Co. Face Trade Secrets Suit
A new lawsuit by Oracle claims that a manager left the company for a competing venture-backed construction software tech outfit and "absconded with thousands of Oracle's trade secret[s]."
Expert Analysis
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Reps And Warranties Insurance Considerations As M&A Slows
The first six months of the year have seen increasingly favorable rates and policy terms for the representations and warranties insurance market, and policy purchasers are right to pay close attention to pricing, coverage, exclusions, structures and claims as the M&A market cools, say attorneys at Cooley.
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Series
Playing Chess Makes Me A Better Lawyer
There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.
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How M&A Attorneys Can Best Serve Self-Funded Searchers
Post-pandemic, and with the so-called great wealth transfer on the horizon, individuals looking for small and midsize businesses to acquire are increasingly going the self-funded route, so deal attorneys must understand the major pain points and unique needs of this demographic, say Kevin Henderson and Eric Pacifici at SMB Law Group.
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Litigation Inspiration: Attys Can Be Heroic Like Olympians
Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those of the court — instead of merely pursuing every advantage short of sanctionable conduct, says Bennett Rawicki at Hilgers Graben.
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Lean Into The 'Great Restoration' To Retain Legal Talent
As the “great resignation,” in which employees voluntarily left their jobs in droves, has largely dissipated, legal employers should now work toward the idea of a “great restoration,” adopting strategies to effectively hire, onboard and retain top legal talent, says Molly McGrath at Hiring & Empowering Solutions.
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Key Takeaways From 2024 Accountants' Liability Conference
At the recent annual Accountants' Liability Conference, regulators provided important commentary on new Public Company Accounting Oversight Board rulemaking and standard-setting initiatives, and emphasized regulatory priorities ranging from the tone at the top to alternative practice structures, say attorneys at Arnold & Porter.
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Series
Fishing Makes Me A Better Lawyer
Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge at Robinson Bradshaw.
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Parsing Controversial Del. General Corporation Law Proposals
In response to issues raised in three recent high-profile Delaware Court of Chancery decisions, many amendments to the Delaware General Corporation Law were quickly proposed that, if enacted, would bring significant changes likely to be hotly debated — and litigated — for the foreseeable future, say attorneys at Morgan Lewis.
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A Healthier Legal Industry Starts With Emotional Intelligence
The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.
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To Make Your Legal Writing Clear, Emulate A Master Chef
To deliver clear and effective written advocacy, lawyers should follow the model of a fine dining chef — seasoning a foundation of pure facts with punchy descriptors, spicing it up with analogies, refining the recipe and trimming the fat — thus catering to a sophisticated audience of decision-makers, says Reuben Guttman at Guttman Buschner.
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Circuit Judge Writes An Opinion, AI Helps: What Now?
Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.
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A Look At M&A Conditions After FTC's Exxon-Pioneer Nod
The Federal Trade Commission's recent consent decree imposing several conditions on Exxon Mobil's acquisition of Pioneer Natural Resources helps illustrate key points about the current merger enforcement environment, including the probability of further investigations in the energy and pharmaceutical sectors, say Ryan Quillian and John Kendrick at Covington.
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FTC Theories Of Harm After Anesthesia Co. Ruling
As Federal Trade Commission litigation against U.S. Anesthesia Partners proceeds following a Texas federal court's recent decision to dismiss a private equity sponsor from the suit, the case attempts to incorporate and advance some of the commission's theories of competitive harm from the final 2023 Merger Guidelines, say attorneys at Mintz.
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Investors Can Aid In The Acceptance Of Psychedelic Medicine
Psychedelic medicine is ready to have its breakthrough moment, and although it still faces political, legal and communications challenges, private equity investors can play a significant role in changing the public perception on psychedelics from taboo to acceptance, say Kimberly Chew at Husch Blackwell, Charlie Panfil at the Daschle Group and Ethan Lutz at FTI Consulting.
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Perspectives
Trauma-Informed Legal Approaches For Pro Bono Attorneys
As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.