Mergers & Acquisitions Law Report Index-Summary

ECUADOR

– Chevron environmental pollution case

ELECTRICITY

ELECTRONIC COMMERCE

ELECTRONICS INDUSTRY

– Emerson acquisition of Chloride, EC clears, 811
– Insider trading, Philips Electronics executive, friend, and business associate charged (N.D. Ill.), 338
– TPV bid for Phillips color TV distributions in China, EC clears, 1037

EMPLOYEE STOCK OWNERSHIP PLANS (ESOPs)

– Bankruptcy, director business decision to sell company not ERISA fiduciary duty (W.D. Mich.), 605
– Corporate reorganizations, closely held corporation merger and transfer of stock to ESOP qualifies as (A) reorganization (PLR), 153
– Fiduciary duties, Tribune newspaper, sale by CEO to ESOP not fiduciary act (N.D Ill.), 35; equitable claims against CEO dismissed, 792

EMPLOYMENT SERVICES

– Temps, Adecco acquisition of MPS Group, EC clears, 42

ENERGY

See also OIL AND GAS
– Alstrom Holdings and Schneider Electric acquisition of Areva T&D Holdings, EC authorizes, 321
– APX acquisition of Belpex, EC approves, 884
– Bankruptcy, Reliant Energy, breakup fee to unsuccessful bidder not necessary to preserve estate (3d Cir.), 136
– Battery parts manufacturers, Polypore Intl. takeover of Microporous Holding, initial divestiture order (FTC), 240; order finalized, 1173
– Blackstone Group equity fund to acquire Dynegy, 774
– Canada, capital gains tax on Husky Oil, Enterprises Ltd., and Mohawk Canada amalgamation overturned (FCA), 525
– Dutch law requiring split of production and network infringes on EU law, 629
– EC merger approvals

See EU MERGER APPROVAL

– Electric utilities

See UTILITIES

– Greenstar Holdings, joint acquisition by Montagu Private Equity and Global Infrastructures approved by EC, 742
– Nuclear technology, Areva and Siemens joint venture, EC to investigate noncompetition clauses, 556

ENFORCEMENT

See also specific countries and industries
– Antitrust

See ANTITRUST

– ICN conference, list of U.S. officials attending, 385; conference results, 407
– Insider trading

See INSIDER TRADING

– Securities fraud

See SECURITIES FRAUD

– Settlements

See SETTLEMENTS

ENGLAND

See UNITED KINGDOM (UK)

ENTERTAINMENT INDUSTRY

– Comcast/Media One Group breakup fee, Calif. tax assessment challenged, 301
– Comcast/NBC Universal merger

– – DOJ takes lead in reviewing, 44
– – FCC sets public comment period, 275; period extended, 375; public forum scheduled in Chicago, 517; review paused, lack of data cited, 621; Comcast defends position, 711; House panel proposes conditions for approval, 733; small and midsize cable companies propose conditions, 804; FCC seeks more data, 913; more data on Comcast “recurring fees” sought, 1127; Waxman outlines proposed conditions, 1139
– – GE and Comcast file public interest statement, 97
– – Online video market, effect on causes concerns, 597
– – Senate panel sets hearing, 73; industry and consumer groups ready to face off, 117; Comcast pledges to maintain free programing, 145; Kohl proposes list of conditions, 492; FTC seeks more data, 493; public interest groups urge “one last hearing,” 869
– – Union warns of fewer jobs, higher rates, 204
– – Video distribution via web not to be affected, 418; opponents remain concerned, 649; ownership, diversity, and governance top concern, 650

– EMI acquisition by Terra Firma, tortious interference and misrepresentation claims against Citigroup to proceed (S.D.N.Y.), 854; jury finds no wrongdoing, 1029
– Movie theaters, AMC Entertainment Group/Kerasotes Showplace Theatres merger, divestitures required (D.D.C.), 494
– Television, Foxconn acquisition of Sony production facilities approved, 629
– Ticketmaster/Live Nation merger, DOJ imposes changes (D.D.C.), 95
– Vivendi guilty of overstatement of financial position to shareholders (S.D.N.Y.), 126

ENVIRONMENT

– Allied Waste Indus./ Republic Services merger, DOJ consent decree and divestiture plan approved (D.D.C.), 689
– Brownfield site due diligence rule debated at public listening session, 358
– Gas production, hydraulic fracturing restrictions

See LEGISLATION, FEDERAL, HR 2766

– Measurement instruments, Agilent/Varian merger, divestitures required (FTC), 467
– Real property, environmental due diligence, market trends reflect growing call for accountability, transparency and disclosure, 356
– Successor liability

– – Asbestos tort claims

– – – Commerce Clause challenge to state law limiting liability not barred by zone of interest analysis (Pa.), 1150
– – – Retroactive limit on liability violates state constitution (Tex.), 1031

– – Associated Gas and Electric may be liable for acts of subsidiary (2d Cir.), 80
– – Bankruptcy, Asarco property, successful bidder assumes liability, 791
– – Chevron case

– – – Arbitration claim under Bilateral Investment Treaty not barred (S.D.N.Y.), 266
– – – Chevron files for dismissal (Ecuador Super. Ct. of Nueva Loja), 763
– – – Ecuadorian delays violated treaty (Perm. Ct. Arb.), 357

– – Insurance, “now and hereafter” language may obligate insurer to cover (D. Minn.), 1151
– – Kerr-McGee spin-off Tronox agrees to settlement (Bankr. S.D.N.Y.), 1118

– Waste recycling, Sita France and Paprec Plastiques joint acquisition of France Plastiques Recyclage, EC authorizes, 59
– Wastewater services, Veolia acquisition of United Utilities Group, EC clears, 1013
– Waters and waste management, Suez Environnement/Sociedat General De Aguas de Barcelona, EC clears, 406

EQUITY FUNDS

See INVESTMENTS

ERISA

See PENSIONS
– Fiduciary duties

See FIDUCIARY DUTY

– Stock drop claims

See PENSIONS

– Withdrawal liability

See WITHDRAWAL LIABILITY

See EUROPEAN UNION (EU)

EU MERGER APPROVAL

– Advertising, Microsoft-Yahoo search agreement cleared by EU, 165
– Agriculture, Monsanto sale of sunflower seed business, EC opens investigation, 165; conditional approval granted, 1093
– Air transportation, United/Continental merger, EC approves, 719
– Alstrom Holdings and Schneider Electric acquisition of Areva T&D Holdings, EC authorizes, 321
– Automobile parts manufacturers

– – Compagnie Plastic Omnium acquisition of Inergy Automotive Sys. cleared, 834
– – Faurecia/Emcon Tech., EC clears, 59
– – Gestamp Automocion acquisition of Edscha, EC clears, 298
– – Magna and Semikron joint acquisition of Vepoint, EC clears, 886
– – Renco Group acquisition of Body Systems Holdings Netherlands cleared, 1162

– Banking

– – Arbejdsmarkedets Tillaegspension and PFA Pension forsikringsaktieselskab joint acquisition of FIH Erhvervsbank cleared, 1125
– – Banco Santander

– – – Royal Bank of Scotland asset acquisition approved, 967
– – – SEB acquisition approved, 834

– – Bank of Am. and Barclays joint acquisition of DSI Intl., EC approves, 230
– – Credit Mutuel and Banco Popular Espanol joint acquisition of Banco Popular Hipotecario cleared, 991
– – Deutsche Bank acquisition of Sal. Oppenheim, EC clears, 131
– – Italy, Credit Agricole acquisition of Cassa di Risparmio della Spezia cleared, 1094
– – State Street Corp. acquisition of Intesa Sanpaolo Group cleared by EC, 406
– – TSB Bank and Svenska Handelsbanken joint control of Dyson Group cleared, 1095

– Chemicals

– – AkzoNobel bid for Rohm Haas powder coating business authorized, 385
– – Ameropa Holding acquisition of Intergrau cleared, 88
– – DSM Special Products and DSM OP Assets, Sun Capital Partners acquisition cleared, 1162
– – Huntsman/Tronox merger, EC clears, 23
– – KP Chemical acquisition of Artenius, EC authorized, 298
– – Mitsubishi Chemical Holdings/Mitsubishi Rayon, EC clears, 230
– – Toray Industries and Tonen Chemical acquisition of Tonen Specialty Separator Godo Kaisha, EC approves, 134
– – Total Petrochemicals Feluy acquisition of Polimeri Europa Benelux approved, 697

– Consulting firms, Aon acquisition of Hewitt cleared, 902
– Consumer products

– – BC Partners Holdings acquisition of Spotless Group, EC clears, 410
– – Color TVs, TPV bid for Phillips distribution activities in China cleared, 1037
– – Jarden acquisition of Home and Baby Care Business, EC clears, 322
– – Trademarks, Whirlpool bid for Privileg rights approved by EC, 697
– – Trading and service companies, Otto bid for home-shopping companies Quelle Versand and Spengler Versand authorized, 447
– – Unilever bid for Sara Lee consumer products division, EC launches investigate, 528; divestitures required, 1094

– Electric equipment, Emerson acquisition of Chloride cleared, 811
– Employment services, Adecco acquisition of MPS Group, EC clears, 42
– Energy

See also Oil and gas, this heading
– – Acea Electrabel Produzione and Acea Electrabel Trading joint control by GDF Suez Energia Italia cleared, 1126
– – Al Shaheen Energy Services control of PII Group and PII North America, EC authorizes, 230
– – APX acquisition of Belpex approved, 884
– – Cheung Kong Infrastructure Holdings and Hongkong Electric Holding join control of Electricite de France UK distribution business cleared, 943
– – Dalkia Eeska Republika/NWR Energy merger, EC clears, 481
– – EnBW Energie BadenWurttembert/Praska Energetika merger approved, 834
– – EnBW Kraftwerke and Evonik Power Minerals joint venture, EC approves, 208
– – Enel Green Power and Sharp, joint venture cleared, 410
– – Enirete acquisition of Fox Energy cleared, 558
– – EVN and Verbund joint acquisition of Energji Ashta Shpk cleared, 796
– – Glencor Intl./Chemiol Energy, EC clears, 231
– – Hidroelectrica Del Cantabrico acquisition of Naturgas Energis Grupo cleared, 1095
– – Montagu Private Equity and Global Infrastructures joint acquisition of Greenstar Holdings approved, 742
– – Solar energy, Commerzbank takeover of Conergy cleared, 448
– – Steam generators, Alstom Power Holding and Bharat Forge joint venture, EC clears, 134

– Engineering services, Vinci Group acquisition of Cegelec approved, 322
– Entertainment industry

– – Bertelsmann and Mediengruppe M. DuMont Schauger joint control of Learnship Networks approved, 834
– – Foxconn acquisition of Sony TV production facilities approved, 629

– Environment

– – Waste recycling, Sita France and Paprec Plastiques joint acquisition of France Plastiques Recyclage, EC authorizes, 59
– – Wastewater services, Veolia acquisition of United Utilities Group, EC clears, 1013
– – Water and waste management, Suez Environnement/Sociedat General De Aguas de Barcelona, EC clears, 406

– Fertilizer, Orascom Construction Industries acquisition of Royal DSM, EC clears, 507
– Financial services

– – AXA acquisition of Home Shopping Europe, EC clears, 88
– – Haselsteiner Familien-Privatstiftung, Krassny-Privatstiftung Semper Constantia Privatbank Aktiengesellschaft, UC approved, 410

– Food industry

– – Ameropa Holding acquisition of Intergrau cleared, 88
– – Brakes Group acquisition of Menigo Food cleared, 386
– – Dairy products

– – – Lactalis acquisition of Puleva, EC clears, 811
– – – Sodiaal takeover of Entremont cleared by French Competition Auth., 863

– – Frozen food distributor, Picard Groupe acquisition by Lion Capital cleared, 928
– – Kohlberg Kravis Roberts and Dr. Hans-Peter Wild joint control of Wild Group. EC clears, 322
– – Kraft Foods purchase of Cadbury

– – – EC approves subject to divestitures, 41
– – – U.S. shareholder challenge dismissed on forum non conveniens grounds (D.N.J.), 103

– – Lamb Weston/Meijer acquisition of Frisch & Frost approved, 986
– – Marfrig acquisition of Seara, EC clears, 59
– – Meat producers

– – – Marfrig Alimentos acquisition of Keystone Foods Intl., EC clears, 903
– – – Vion acquisition of Weyl cleared, 811

– – Metro AG and Convergenta Asia joint control of Media-Saturn China-Holding approved, 386
– – Nutritional supplements, NBTY acquisition by Carlyle Group cleared, 862
– – Permira acquisition of Unilever frozen food business, EC clears, 886

– Furniture manufacturing, Advent acquisition of DFS Furniture cleared, 558
– Gambling, Louis Dryfus, Financieres Lov, and Societe Anonyme des Baine de Mer joint acquisition of Mangas, EC approves, 134
– Grocers, Carrefour and Marinopoulos joint venture cleared, 773
– Health care

– – IMS Health drug information and consulting firm acquisition by investment firms, EC clears, 155
– – Mail order pharmacies, DocMorris and K-Mail joint venture cleared, 991
– – Ontex Intl., disposable hygiene products manufacturer, joint control by Goldman Sachs and TPG Group cleared, 927
– – Ramsay Health Care and Predica joint control of Groupe Proclif, EC approves, 322

– Heating and air conditioning and limestone mining, Rettig bid for Nordkalk approved, 773
– Industrial manufacturing, Canada Pension Plan Invest. Bd. and Onex joint purchase of Tomkins clears, 862
– Investment management

– – Alstom Holdings joint control of CJCS Transmasholdings cleared, 1061
– – Bregal Capital acquisition of Englefield Capital, EC approves, 134
– – Clinven acquisition of Spice cleared, 1061
– – Triton Fund acquisition of Ambrea, EC clears, 322

– Life insurance, Metlife acquisition of American Life Ins. and Del. American Life Ins. cleared, 812
– Maritime safety and security systems, EADS and ATLAS Elektronik joint venture cleared, 1012
– Medical products

– – Mail order provider, Harrington Group acquisition by Clayton, Dubilier & Rice and Goldman Sachs Group cleared, 863
– – Reckitt Benckiser/SSL Intl. merger approved subject to divestitures, 987

– Metals

– – Aluminum, Apollo acquisition of Alcan Engineered Products cleared, 991
– – Klockner/Becker Group, EC clears, 231
– – Steel manufacturing

– – – Metinvest acquisition of IISW, EC clears, 886
– – – POSCO acquisition of Daewoo cleared, 863

– – Triton/Ovako merger, EC clears, 885

– Motor vehicles

– – BCA Holdings, equity fund acquisition, EC clears, 231
– – Johnson Controls acquisition of Michel Thierry Group approved, 1094
– – Peugeot acquisition of Pastal Holding parts maker cleared, 925
– – Saab acquisition by investor approved, 558
– – Toll roads, Finavias and Abertis join purchase of Autopista Trados M-45, EC approves, 987
– – Volkswagen, Mahag Group dealership acquisition approved, 59
– – Volvo, EC approves acquisition by Chinese firms, 696

– Oil and gas

– – Bominflot Bunkergesellschaft acquisition of SBI, EC approves, 43
– – Drilling supplies, Schlumberg acquisition of Smith Intl., EC approves, 719
– – Lloyds acquisition of Petrochem Carless, EC approved, 322
– – Macquarie Fund and Antin Infrastructure Partners, joint acquisition of Strategic Storage Facilities Holding cleared, 179
– – Oaska Gas acquisition of Saggas, EC clears, 883
– – Topaz Energy acquisition of Shell Aviation Ireland, EC clears, 1037
– – Total Italia and Erg Petroli joint refining venture, EC clears, 504

– Online retailers, NPM Capital and Cyrte Investments acquisition of Bol.com cleared, 449
– Paper industry, Heinzel acquisition of Europapier cleared, 942
– Pharmaceutical companies

– – Actavis acquisition by Deutsche Bank, EC clears, 904
– – Eli Lilly/Pfizer animal health assets acquisition, EC clears, 507
– – Huvepharma, Citigroup Venture Capital and Advance Properties joint control cleared, 1095
– – Merck/Millipore merger authorized, 670
– – Teva to acquire Ratiopharm, 300; EC clears, 741

– Postal services, Osterreichische Post and Schweizerische Post joint acquisition of Meiller Direct cleared, 1162
– Printing and publishing

– – Bertelsmann and Planeta joint control of Circulo approved, 698
– – Canon/Oce merger, EC clears, 23
– – EQT V acquisition of Springer Science + Business Media, EC clears, 134
– – Le Monde takeover by Pierre Berge, Xavier Neil, and Mathieu Pigasse, EC clears, 927

– Protective equipment manufacturer, Honeywell bid for Sperian approved, 743
– Railroads, Deutsche Bahn, Arriva acquisition subject to divestitures, 796
– Real estate, Allianz and ING Real Estate Development joint acquisition of Allee Center, EC clears, 208
– Retailers

– – Arnotts, Anglo Irish Bank and Royal Bank of Scotland joint acquisition cleared, 771
– – Vroom & Dreesmann acquisition by Sun Capital approved, 1061

– Rubber manufacturing, Bain Capital acquisition of Styron Business approved by EC, 410
– Security services, Securitas acquisition of Reliance Security Services cleared, 1037
– Ship building, Abu Dhabi Mar and ThyssenKrupp Marine Sys. consolidation, EC clears, 834
– Shipping, Statoil South Riding Point and Svitzer joint acquisition of Freepoint Tug & Towing, EC approves, 230
– Software, Blue Lion joint control by Bertelsmann Digital Media Investments and FCPI cleared, 1125
– Technology industry

– – Bio-analytical measurement instruments, Agilent/Varian merger, EC approves subject to divestitures, 110
– – Construction management software, Ed. Zublin and VMT joint venture cleared, 1038
– – Consumer electronics

– – – Foxconn acquisition of Dell's Poland facility, EC clears, 903
– – – Tech Data Europe and Brightstar Europe joint control of Triade, EC clears, 903

– – Dassault Systemes acquisition of IBM's produce life management unit approved by EC, 321
– – LCD manufacturers, InnoLux Display, Chi Mei Optoelectronics, and TPO Displays, EC clears, 230
– – Microchips, Intel and GE joint venture cleared, 991
– – United Technologies, GE security business acquisition, EC clears, 229

– Telecommunications

– – Nippon Telegraph & Telephone acquisition of Dimension Data cleared, 796
– – SFR Developpement and Europ Assistance Holding joint control of Ocealis cleared, 88
– – Telefonica bid for Hansenet Telekommunikation authorized by EC, 133

– Tool manufacturers

– – Cooper Industries and Danaher joint venture cleared, 558
– – Stanley Works/Black & Decker merger, EC approves, 272

– Transportation services and supplies

– – Eurovia acquisition of Tarmac authorized, 585
– – Public transportation, Keolis Nordic bid for Busslink i Sverige, EC clears, 720

– Travel industry, Thomas Cook acquisition of Oger Tours, EC clears, 859

EUROPEAN UNION (EU)

See also specific countries
– Antitrust and merger procedures guidance, 41
– Attorney-client privilege, cross-border issues, 637
– Banking

– – Bailouts, Competition Auth. outlines 2-year plan to phase out measures, 1160
– – Single market rule violated by use of golden shares (ECJ), 667
– – Westdeutsche Landesbank, EU investigation of state aid extended to, 1060

– Corporate exit tax, EU challenges Denmark, Spain, and Netherlands unrealized capital tax, 1161
– EC annual competition report issued, 558
– Energy, Dutch law requiring split of production and network infringes on EU law, 629
– Enforcement, list of successes, 967
– Expansion of bilateral investment with China sought, 862
– Financial transaction tax merger exemption, member states cannot avoid EU merger directive, 504
– Hedge fund and private equity regs. advance, 481; becomes law, 1091
– Joint ventures, intellectual horizontal cooperation agreement rules revised, 1183
– Premerger notification, EU regulations deemed boon to competition enforcement, EU Comm'r comments, 901
– Ryanair, Aer Lingus merger

– – Acquisition blocked (EU Gen. Ct.), 667
– – UK OFT launches investigation of Ryanair purchase of minority shareholder interest, 1010

– Sara Lee

– – P&G bid for air care business, UK OFT asks EC to investigate, 272
– – SC Johnson bid for insecticide unit, EC to review, 858
– – Unilever bid for body care division, EC launches investigate, 272
– – Unilever bid for consumer products division, EC launches investigate, 528; divestitures required, 1094

– Software, Oracle/Sun Microsystems takeover, EU regulators clear, 85

EXCHANGES

See STOCK MARKETS

EXECUTIVE COMPENSATION

– Bonuses, Bank of Am./Merrill Lynch merger, proxy misrepresentation

– – Expert testimony rejected (S.D.N.Y.), 33; Bank of Am. agrees to $150M settlement, 123; ruling delayed, 148; court seeks information from N.Y. AG, 168; court approves, 199
– – SEC IG expands probe over settlement, 523

– Golden parachute

See GOLDEN PARACHUTES

– Noncompetition agreements, settlement over stock purchase agreement earn out sufficient to bar claims (Del. Ch.), 547
– Proxies

– – Institutional Shareholder Services draft policies highlight Dodd-Frank changes, 1025
– – Say-on-pay

– – – Investment company voting trends, ICI study, 1109
– – – Public companies over-planning, 1109
– – – Regs. on fast track, 1053; use of proposed rules as final guidance, 1075; analysis of Prop. Regs., 1128

EXPATRIATES

– Corporate inversions, §7874 safe harbor elimination unlikely to be reconsidered, 245; NY Bar suggests splitting safe harbor into 2 tests, 427; safe harbor and PLRs unlikely soon, 1085

EXPORTS

– Premerger violations, successor liability, avoidance planning, 994