mergers & acquisitions
Suntory Holdings to buy Beam for $16bn
Avago Technologies Limited announced in December that it had agreed to acquire storage and networking company LSI Corporation for $11.15 per share in an all cash transaction valued at $6.6bn. The agreed price represents a 40 percent premium on San Jose, California...
Liberty Global to finally acquire Ziggo
After a nearly 10 month battle, Liberty Global finally announced in January that it has agreed to acquire Dutch cable television operator Ziggo in a deal worth an estimated $13.7bn including debt. The deal came after Ziggo rejected an offer from Liberty in October...
private equity & venture capital
KKR acquires majority stake in Sedgwick Claims Management
Private equity (PE) firm KKR & Co LLP announced in January that it had agreed to acquire a majority stake in Sedgwick Claims Management Services, a provider of insurance claims processing, for $2.4bn. Under the terms of the deal, KKR will take control of the.
CEC Entertainment sold to Apollo Global Management
Private Private equity powerhouse Apollo Global Management LLC announced in January that it had agreed to acquire CEC Entertainment Inc for $1.3bn in cash, including the assumption of debt. CEC, based in Irving, Texas, is believed to have debts of around $370m. The...
bankruptcy & corporate restructuring
Cengage Learning to exit bankruptcy protection
Business bankruptcies fell to their lowest level since 2006 last year, dropping 24 percent according to data held by the American Bankruptcy Institute (ABI). In total, bankruptcies by businesses and individuals fell by 13 percent. Bankruptcy filings for both...
Freedom Industries files for Chapter 11 bankruptcy
Freedom Industries Inc, the chemical manufacturer whose leaky storage tank polluted the Elk River in West Virginia, filed for Chapter 11 bankruptcy protection in January to cope with the cost of the number of lawsuits that were subsequently filed against the company...
Mergers & Acquisitions
The value of data assets in a US M&A deal: three key questions to ask
Data is a valuable asset in the information economy. Companies have only recently begun to unlock that value to capitalise on some of the biggest opportunities in the marketplace today, including cloud computing, big data and analytics, social networking, globalisation and ecommerce...
Financing acquisitions in Canada: keep your eye on the CAD
Companies often approach a Canadian acquisition with a reasonable degree of comfort, believing correctly that the Canadian legal and financial environment is similar to the US. While this is true in many ways, there are a number of unique aspects and one that deserves early...
Finance & Investment
Crowdfunding for the masses: the birth of crowdfunding portals
While both startups seeking capital and investors on the prowl for the next big thing have been quick to endorse equity crowdfunding, there’s a third group that sees exciting opportunities in this new capital fundraising scheme: prospective funding portals. This year,...
Corporate financing for small and medium-sized companies: Alternative Spanish Fixed-Income Market
The Alternative Spanish Fixed-Income Market (Mercado Alternativo de Renta Fija, ‘MARF’) was launched in May 2013 by the Spanish exchange market operator (Bolsas y Mercados Españoles, ‘BME’) through AIAF, Mercado de Renta...
Cyber security: is the draft NIS Directive doomed to change after the NSA scandal?
Following the Snowden leaks, on 11 December 2013 the European Union Agency for Network and Information Security (ENISA) released its ‘Overview of current and emerging cyber-threats’ (ENISA Threat Landscape 2013), which found that cyber threats have gone mobile and...
Information security challenges for banking institutions in Mexico
As a consequence of the recent implementation of the Federal Data Privacy law and its Regulations (the ‘Privacy Laws’), almost all foreign entities doing business in Mexico had to develop or adjust applicable privacy and information security standards and policies...
Fraud & Corruption
Recent antitrust and anti-bribery investigations in China
There have been new trends of active law enforcement in China in various sectors since the new leadership and administration took the helm in early 2013. In particular, during the past year, we have seen several high-profile and major government investigations with respect to...
The Brazilian Clean Company Act comes into effect
Corruption is a worldwide plague that causes serious harm to the economy, business and society as a whole, given that the sums of money diverted by the few could benefit many people. A study published by the powerful Federation of the Industries of the State of...
Pending patent reform is a critical step in reforming US patent litigation
Litigation-based patent reform is coming to the United States, and it will be good for businesses across industries. The 2011 America Invents Act (AIA) worked significant changes to the patent process and created valuable Patent Office-based post-grant review proceedings. But the...
OECD: the automatic exchange of information – another burden without benefits for financial institutions
In 2008 the United States became aware that a number of American nationals were evading US taxes by placing their money in offshore bank accounts. UBS, a Swiss bank, offered Americans to hold their money in Swiss bank accounts with the assurance that these accounts would be off...
EXCLUSIVE ONLINE CONTENT
Impact of the Mexican oil and gas bill
FW speaks with Juan Carlos Serra, a partner at Basham, Ringe y Correa, S.C., about the Mexican oil and gas bill.
Shale gas in the UK
FW moderates a discussion focusing on shale gas in the UK between Elizabeth Shepherd, an environment partner at Eversheds, Robert Hodges, a director at EY, and Nick Grealy, director of No Hot Air.
M&A in the energy & utilities sector
FW moderates a discussion examining M&A in the energy & utilities sector between Colette Lewiner, Energy and Utilities advisor to the chairman of Capgemini, Todd Giardinelli, a managing director at Morgan Stanley, and Allen C. Barron, president of Ralph E. Davis Associates, Inc.
Impact of the Volcker Rule
FW moderates a discussion on the impact of the Volcker Rule between Dwight Smith, a partner at Nelson Mullins, Bradley K. Sabel, of counsel at Shearman & Sterling LLP and Brian D. Christiansen, a partner at Skadden, Arps, Slate, Meagher & Flom LLP.
Spin offs and carve outs
FW moderates a discussion focusing on spin offs and carve outs between Thomas D. Williamson, a principal at Deloitte Consulting LLP, Peter E. Izanec, a partner at Jones Day, and Jane D. Goldstein, a partner at Ropes & Gray.
The construction sector in Poland
A few years ago, when Poland started one of the largest construction projects in Europe involving billions of euros of contracts, every civil engineering firm involved in such projects expected to benefit. The country’s stable political situation, funds granted by the European...
Setting maximum time-periods: the end of ‘never-ending’ Works Council consultations?
One of the difficulties of French employment law has for many years been the uncertainty which employers faced when launching a consultation procedure: they knew when they introduced the consultation but in some cases had no idea when it would be closed because there was no set...
Extracting value from your Cayman Islands company: returning capital and sharing profits
Whilst investors are clear as to the benefits of using a Cayman Islands Exempted Company (‘Company’) as an investment vehicle, they are not always aware of the options available to them for taking money out. As the Company is a legal entity there are formalities to...