Private equity investments
The 2013 Amendments to the Delaware General Corporation Law
Green shoots in the M&A market have provided a timely boost for leveraged loan issuance, putting the market on track to end the year strong - US leveraged loan issuance is energizing the global debt capital markets, with...more
The IRS and Treasury have issued final regulations (TD 10037) that eliminate stock repurchase excise tax exposure for M&A transactions, take-privates, and leveraged buyouts – a major win for deal structuring. The rules also...more
Leveraged finance has experienced notable shifts in recent years, driven by the rapid expansion of private credit and the continued evolution of the broadly syndicated loan (BSL) market. Once clearly separate in structure,...more
When Gatsby stands at the edge of his lawn, gazing across the bay at the green light on Daisy Buchanan's dock, that lamp promises his imagination that time itself might be reversed. History will relent and desire bend the...more
Take privates: The number of take-private deals jumped in Q3 2025, reaching the highest quarterly total since Q2 2022. YTD deal value for take privates has already surpassed the full-year totals for both 2024 and 2023. Exits:...more
In a market in which attractive assets draw fierce competition, smart buyers are finding ways to stand out through value creation rather than higher prices....more
Over the last 15 years, private equity (“PE”) firms have invested hundreds of billions of dollars in the healthcare sector, infiltrating every corner of the industry from emergency rooms and labs to billing providers and...more
U.S. PE deal activity: Deal activity was slightly down in 2024 with a 3% YoY decline, while deal value was up 14%. Transaction activity did not make the strong comeback dealmakers were hoping for in 2024 as investors...more
On September 19, 2024, the US Court of Appeals for the Second Circuit issued a summary order in which it held that the “safe harbor” provision of Section 546(e) of the Bankruptcy Code preempted a bankruptcy trustee’s state...more
On April 12, 2024, the Treasury Department and Internal Revenue Service (IRS) issued proposed Treasury Regulations (REG-115710-22) providing comprehensive guidance for applying the one-percent excise tax owed on corporate...more
Higher interest rates presented a challenging environment for dealmakers and the debt markets in 2023. But what does 2024 have in store? In this edition of Credit Conditions, we look back at last year’s key market trends and...more
Parties structuring certain financial transactions to comply with the Bankruptcy Code safe harbor provisions, including protections from the avoidance powers in Section 548 of the Bankruptcy Code, must be cognizant of recent...more
When leveraged buyouts (“LBOs”) fail, the selling shareholders are litigation targets. A common suit is a claim by a bankruptcy trustee asserting constructive fraudulent transfer claims seeking to claw-back payments to the...more
Morrison Foerster is pleased to share with our clients and friends the results of our 2023 Tech M&A Survey, published in conjunction with Mergermarket. Mergermarket surveyed 300 dealmakers from around the world in order to...more
Employee ownership trusts (EOTs) may soon become one additional avenue for Canadian business owners looking to sell their enterprises. The goal of EOTs is to enable owners to effectively sell their businesses to their...more
Welcome to Goodwin's Debt Download, our monthly newsletter covering what you need to know in the leveraged finance market. We hope you’re staying warm during the winter doldrums....more
HEADLINES - - M&A leveraged loan issuance in Western and Southern Europe is down 69 per cent year-on-year, while high yield is down 81 per cent -Buyout loan and high yield bond issuance is down by 9 per cent and 52 per...more
Welcome to Debt Download, Goodwin’s monthly newsletter covering what you need to know in the leveraged finance market. We hope your year is off to a good start!...more
One of the headline tax changes in the Inflation Reduction Act of 2022, Public Law 117-169, is a 1% excise tax on stock repurchases by public companies. New Section 4501 of the Internal Revenue Code applies a non-deductible...more
In the inaugural edition of Debt Download, we covered recent trends in the U.S. debt finance markets. This month, we take a look at what’s happening in the U.K. and Europe....more
If you are an entry or mid-level private equity investor, you undoubtedly work with lawyers and deal documents all the time. To help sharpen your skills, McDermott is thrilled to bring back our Chicago Boot Camp for Private...more
This is how Tribune ends: not with a bang, but a whimper. The 12-year litigation saga, rooted in the spectacular failure of the media and sports conglomerate’s 2007 leveraged buyout, reached an end in late February with a...more
After more than a decade, litigation resulting from the failed leveraged buyout (LBO) of media giant Tribune Company has finally drawn to a close. On Feb. 22, 2022, the U.S. Supreme Court declined to review the latest...more
In 2019, the U.S. Court of Appeals for the Second Circuit made headlines when it ruled that creditors' state law fraudulent transfer claims arising from the 2007 leveraged buyout ("LBO") of Tribune Co. ("Tribune") were...more
It is fair to say that the acquisition and leveraged finance industry has shown resilience in relation to the difficult global situation arising from the covid-19 pandemic, particularly in comparison to the previous global...more