Mergers & Acquisitions Law Report - May 7, 2012: Summary of Required Financial Statements of Businesses Acquired or to Be Acquired by Orrick, Herrington & Sutcliffe LLP on 5/22/2012 Reproduced with permission from Mergers & Acquisitions Law Report, 15 MALR 686, 05/07/2012. Copyright 2012 by The Bureau of National Affairs, Inc. Rule 3-05 of Regulation S-X requires audited financial statements to be...more
Sellers Prepare: Health Care Due Diligence by Mintz Levin - Health Law on 5/21/2012 Originally published in Law360, New York (May 18, 2012, 4:38 PM ET) Health care transactions present unique due diligence challenges. The buyer must evaluate the seller’s compliance policies and procedures, arrangements...more
Door to NASDAQ's New Alternative Listing Options Opens Slowly for Reverse Merger Companies by Pillsbury Winthrop Shaw Pittman LLP on 5/18/2012 On April 18, 2012, the SEC approved a Nasdaq proposal for an alternative to the current $4 per share initial listing bid price requirement on the Nasdaq Capital Market. The alternative will require a closing price of either...more
Fed Opens the Door to Increased Chinese Investment in U.S. Banking Organizations by Reed Smith on 5/17/2012 On May 9, 2012, the Federal Reserve Board (“FRB”) released three orders approving investments in the U.S. banking market by entities based in China. The investments, which consist of the acquisition of 80 percent of a...more
Federal Reserve Approval of ICBC Acquisition Clears the Way for Chinese Bank Acquisitions of US Banks by White & Case LLP on 5/11/2012 On May 9, 2012, the Board of Governors of the Federal Reserve System (“Board”) issued an order approving the first acquisition of a US bank by a bank organized under the laws of the People’s Republic of China (“ICBC Order”)....more
Mortgage Banking Update - May 10, 2012 by Ballard Spahr LLP on 5/10/2012 In This Issue: - Borrower May Sue after Three Years to Rescind Mortgage Loan, 4th Circuit Rules - Mortgage Insurer Settles DOJ Discrimination Suit -HUD Face-To-Face Meeting Rule Gets Expansive Reading from...more
Baker & McKenzie: 2012-13 Federal Budget: Spreading the benefits of the boom...but not to foreign investors by Baker & McKenzie Australia on 5/9/2012 The Treasurer has delivered the 2012-13 Budget. As part of a concerted effort to ensure a budget surplus (of $1.5 billion), the promised company tax cuts have been scrapped and the tax burden for foreign investors has been...more
Reminder: the DOJ Has Criminal Antitrust Enforcement Powers Beyond Price Fixing by Howard Ullman on 5/8/2012 On May 3, the U.S. DOJ announced that an executive of South Korean-based Hyosung Corporation agreed to plead guilty and to serve time in a U.S. prison for obstruction of justice charges in connection with an automated teller...more
Essential Health Transaction Planning for Providers in Today’s Antitrust Enforcement Climate by McDermott Will & Emery on 5/8/2012 Federal antitrust enforcement agencies continue to challenge transactions in the health industry that they view as anticompetitive. This newsletter provides an update on recent public comments by government officials...more
Court Urges Business Transaction Exemption for PIPEDA by Fraser Milner Casgrain LLP on 5/8/2012 One business wants to buy the assets of another business. Assume that the consent obtained to the collection, use and disclosure of personal information from the customers of the seller did not include consent to disclose...more
Canadian Patents: Importance of Registering Assignment by Field Law on 5/2/2012 This is a review of a recent decision of the Ontario Superior Court of Justice, which has implications for Canadian patent owners and assignees. The case is Verdellen v. Monaghan Mushrooms Ltd. The facts are that...more
The Framework For Buying a Community Bank by Pryor Cashman LLP on 4/27/2012 Partner Pinchus D. Raice and Associate Robert C. Lamonica, both members of Pryor Cashman’s Financial Institutions and Banking Groups, have authored an article entitled "The Framework For Buying a Community Bank." The...more
MOFCOM's "Fusion" Approach to Chinese Merger Control by Sheppard Mullin Richter & Hampton LLP on 4/20/2012 We often hear about how China’s merger review “diverges” from other jurisdictions, most recently in reaction to conditional approvals of the Seagate/Samsung and Western Digital/Hitachi mergers. But China's MOFCOM is merely...more
Critical Real Estate Considerations in Health Care Transactions - Leases by K&L Gates LLP on 4/17/2012 This is Part II of Critical Real Estate Considerations in Health Care Transactions. Part I can be found here. Real estate leases are critical components of health care operations and are often key considerations in...more
What’s Fair is Fair for Bank Holding Companies: Using Fairness Hearings in Mergers to Avoid SEC Registration by Manatt, Phelps & Phillips, LLP on 4/11/2012 Following President Obama’s signing of the “Jumpstart Our Business Startups Act” (the “JOBS Act”) last week, private bank holding companies (“BHCs”) can now avoid registration under the Securities Exchange Act of 1934, as...more