Martha Plimpton

AIG Completes Sale of Validus Re to RenaissanceRe

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水曜日, 11月 1, 2023
Asset Management, Professional Services, Insurance, American International Group, Sale, Wachtell, Lipton, Rosen & Katz, DeBevoise, NYSE, Acquisition, Martha Plimpton, AIG, RenaissanceRe, J.P. Morgan & Co., International Marxist Group, Western world

American International Group, Inc. (NYSE: AIG) today announced that is has successfully completed the previously announced sale of Validus Re to RenaissanceRe.

Key Points: 
  • American International Group, Inc. (NYSE: AIG) today announced that is has successfully completed the previously announced sale of Validus Re to RenaissanceRe.
  • AIG received total consideration of $3.3 billion in cash, including a pre-closing dividend, and approximately $275 million in RenaissanceRe common shares.
  • As disclosed in May 2023, AIG will retain Talbot Underwriting and Western World, which the company purchased as part of its acquisition of Validus Holdings, Ltd. in 2018.
  • and J.P. Morgan Securities LLC acted as financial advisors, and Wachtell, Lipton, Rosen & Katz and Debevoise & Plimpton LLP acted as legal counsel for AIG.

Rithm Capital Corp. Enters into Amended Merger Agreement to Acquire Sculptor Capital Management For $12.70 Per Sculptor Class A Share

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金曜日, 10月 27, 2023
Asset Management, Professional Services, Finance, Slate, DeBevoise, NYSE, Prejudice, Report of the Special Committee on the Termination of the National Emergency, PJT Partners, Committee, Transaction, SCU, Martha Plimpton, Multimedia, Skadden, Arps, Slate, Meagher & Flom, TM Capital Corp., RITM, Latham & Watkins, Ropes & Gray, Citigroup, Cryptocurrency

Rithm Capital Corp. (NYSE: RITM; “Rithm”) and Sculptor Capital Management Inc. (NYSE: SCU; “Sculptor”) today announced they have amended the terms of their previously announced definitive merger agreement (the “Amended Agreement”), pursuant to which Rithm will acquire Sculptor.

Key Points: 
  • Rithm Capital Corp. (NYSE: RITM; “Rithm”) and Sculptor Capital Management Inc. (NYSE: SCU; “Sculptor”) today announced they have amended the terms of their previously announced definitive merger agreement (the “Amended Agreement”), pursuant to which Rithm will acquire Sculptor.
  • The Transaction represents a premium of 49.4% over the unaffected November 17, 2022, closing Class A share price of $8.50.
  • Michael Nierenberg, Chairman, Chief Executive Officer and President of Rithm stated, “We remain thrilled to partner with Sculptor and thank Dan and the other founders for their support of Rithm’s amended agreement.
  • J.P. Morgan Securities LLC acted as financial advisor and Ropes & Gray LLP acted as legal counsel to Sculptor.

Rithm Capital Corp. Enters into Amended Definitive Merger Agreement to Acquire Sculptor Capital Management for $12.00 Per Sculptor Class A Share

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木曜日, 10月 12, 2023
Asset Management, Professional Services, Finance, Slate, Multimedia, NYSE, SCU, Citigroup, PJT Partners, Latham & Watkins, Special, Martha Plimpton, RITM, DeBevoise, TM Capital Corp., Amend, Ropes & Gray, Report of the Special Committee on the Termination of the National Emergency, Skadden, Arps, Slate, Meagher & Flom, Committee, Cryptocurrency

Rithm Capital Corp. (NYSE: RITM) (“Rithm”) and Sculptor Capital Management Inc. (NYSE: SCU) (“Sculptor”) today announced that they have amended the terms of their previously announced definitive merger agreement (the “Amended Agreement”), pursuant to which Rithm will acquire Sculptor.

Key Points: 
  • Rithm Capital Corp. (NYSE: RITM) (“Rithm”) and Sculptor Capital Management Inc. (NYSE: SCU) (“Sculptor”) today announced that they have amended the terms of their previously announced definitive merger agreement (the “Amended Agreement”), pursuant to which Rithm will acquire Sculptor.
  • “Throughout this process, the Special Committee has been solely focused on consummating a transaction that maximizes value and certainty of closing for Sculptor stockholders.
  • Citi acted as the exclusive financial advisor to Rithm and Skadden, Arps, Slate, Meagher & Flom LLP and Debevoise & Plimpton LLP served as legal counsel to Rithm.
  • J.P. Morgan Securities LLC acted as financial advisor and Ropes & Gray LLP acted as legal counsel to Sculptor.

SIRIUSXM ACKNOWLEDGES RECEIPT OF PROPOSAL FROM LIBERTY MEDIA CORPORATION

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火曜日, 9月 26, 2023
Martha Plimpton, Proposal, Communication, Sirius XM, Committee, Liberty Media, SIRI, Liberty, Special Committee on Peacekeeping Operations, DeBevoise, Cryptocurrency, NewCo

NEW YORK, Sept. 26, 2023 /PRNewswire/ -- Sirius XM Holdings Inc. (NASDAQ: SIRI) ("SiriusXM" or the "Company") today acknowledged that the special committee of independent directors of the board of SiriusXM (the "Special Committee") received a non-binding proposal from Liberty Media Corporation ("Liberty Media") regarding a potential transaction involving the Company.

Key Points: 
  • NEW YORK, Sept. 26, 2023 /PRNewswire/ -- Sirius XM Holdings Inc. (NASDAQ: SIRI) ("SiriusXM" or the "Company") today acknowledged that the special committee of independent directors of the board of SiriusXM (the "Special Committee") received a non-binding proposal from Liberty Media Corporation ("Liberty Media") regarding a potential transaction involving the Company.
  • The potential transaction would consist of the separation of the assets and liabilities attributed to the Liberty SiriusXM tracking stock group from Liberty Media through the split-off of a newly formed company ("Newco") and the subsequent combination of Newco and SiriusXM, as a result of which the holders of Liberty SiriusXM tracking stock and SiriusXM common stock would all hold one class of common stock of the combined company (the "Proposal").
  • The Special Committee, together with its advisors, Solomon Partners Securities, LLC and Debevoise & Plimpton LLP, is evaluating the Proposal.
  • The Company cautions stockholders and others considering trading in its securities that the Special Committee has only received the Proposal from Liberty Media and no decisions have been made by the Special Committee with respect to a response to the Proposal.

TPG and Crowe LLP to Establish Crowe Healthcare Consulting as Independent Company

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火曜日, 8月 29, 2023
Professional Services, Health, Health Technology, Finance, Asset Management, Consulting, Accounting, Martha Plimpton, LLP, RCA, Winston & Strawn, Software, Partner (business rank), TPG Inc., CFOS, Organization, Hospital, Investment, Physician, Risk, Growth, DeBevoise, Pharmaceutical industry, Crowe, TPG

TPG (NASDAQ: TPG), a global alternative asset management firm, and Crowe LLP, a public accounting, consulting, and technology firm, today announced that they have signed a definitive agreement for TPG to acquire a majority stake in Crowe Healthcare Consulting, establishing it as an independent entity.

Key Points: 
  • TPG (NASDAQ: TPG), a global alternative asset management firm, and Crowe LLP, a public accounting, consulting, and technology firm, today announced that they have signed a definitive agreement for TPG to acquire a majority stake in Crowe Healthcare Consulting, establishing it as an independent entity.
  • Crowe Healthcare Consulting Founder and Managing Partner, Derek Bang, and the existing management team will lead the newly independent business, rebranded as Kodiak Solutions (“Kodiak” or the “Company”), after the transaction closes.
  • “We take tremendous pride in the deeply specialized healthcare consulting business Crowe has cultivated and built with Derek and our healthcare team over the past 20 years.
  • TripleTree, LLC served as financial advisor to TPG, and Debevoise & Plimpton LLP served as legal counsel.

H.I.G. Capital Signs Definitive Agreement to Acquire Ascent Global Logistics

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火曜日, 8月 22, 2023
Martha Plimpton, Atmosphere, Elliott Investment Management, PEAK, Latham & Watkins, Investment, Growth, Management, Ascent

"), a leading global alternative investment firm with $58 billion of capital under management, is pleased to announce that one of its affiliates has signed a definitive agreement to acquire Ascent Global Logistics ("Ascent" or the "Company"), a leading provider of technology-enabled, expedited logistics and supply chain solution services from affiliates controlled by Elliott Investment Management L.P. ("Elliott").

Key Points: 
  • "), a leading global alternative investment firm with $58 billion of capital under management, is pleased to announce that one of its affiliates has signed a definitive agreement to acquire Ascent Global Logistics ("Ascent" or the "Company"), a leading provider of technology-enabled, expedited logistics and supply chain solution services from affiliates controlled by Elliott Investment Management L.P. ("Elliott").
  • Headquartered in Belleville, Michigan, Ascent provides solutions to customers' most complex, time-critical logistics requirements with industry-leading service and on-time delivery levels.
  • The Company is a global industry leader in on-demand ground and air expedited logistics solutions, truck brokerage, freight forwarding, and other value-added transportation services.
  • "Ascent is the preeminent provider of time-critical logistics services and is uniquely positioned to meet the increasing complexity within global supply chains," said Rob Jang, Managing Director at H.I.G.

H.I.G. Capital Signs Definitive Agreement to Acquire Ascent Global Logistics

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火曜日, 8月 22, 2023
Professional Services, Trucking, Rail, Air, Logistics, Supply Chain Management, Transport, Asset Management, Martha Plimpton, Atmosphere, H.I.G. Capital, Elliott Investment Management, PEAK, Latham & Watkins, Investment, Cryptocurrency, Ascent

Capital (“H.I.G.”), a leading global alternative investment firm with $58 billion of capital under management, is pleased to announce that one of its affiliates has signed a definitive agreement to acquire Ascent Global Logistics (“Ascent” or the “Company”), a leading provider of technology-enabled, expedited logistics and supply chain solution services from affiliates controlled by Elliott Investment Management L.P. (“Elliott”).

Key Points: 
  • Capital (“H.I.G.”), a leading global alternative investment firm with $58 billion of capital under management, is pleased to announce that one of its affiliates has signed a definitive agreement to acquire Ascent Global Logistics (“Ascent” or the “Company”), a leading provider of technology-enabled, expedited logistics and supply chain solution services from affiliates controlled by Elliott Investment Management L.P. (“Elliott”).
  • Headquartered in Belleville, Michigan, Ascent provides solutions to customers’ most complex, time-critical logistics requirements with industry leading service and on-time delivery levels.
  • The Company is a global industry leader in on-demand ground and air expedited logistics solutions, truck brokerage, freight forwarding, and other value-added transportation services.
  • “Ascent is the preeminent provider of time-critical logistics services and is uniquely positioned to meet the increasing complexity within global supply chains,” said Rob Jang, Managing Director at H.I.G.

Rithm Capital Corp. to Acquire Sculptor Capital Management

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月曜日, 7月 24, 2023
Professional Services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, Asset Management, REIT, Slate, Martha Plimpton, News, LLP, Report of the Special Committee on the Termination of the National Emergency, Partnership, PJT Partners, Culture, Internet, Committee, Multimedia, Latham & Watkins, Organization, Citigroup, AUM, Skadden, Arps, Slate, Meagher & Flom, Risk, CIO, SCU, Greenbriar Capital Corp, Hand, RITM, Presentation, NYSE, Conference, Weil, Gotshal & Manges, DeBevoise, Software, Security (finance), Cryptocurrency, Asset management

Rithm Capital Corp. (NYSE: RITM; “Rithm”), an asset manager focused on the real estate and financial services industries, and Sculptor Capital Management Inc. (NYSE: SCU; “Sculptor”), a global alternative asset manager with $34 billion in assets under management (“AUM”)(1), today announced entry into a definitive agreement under which Rithm will acquire Sculptor in a transaction valued at approximately $639 million(2), which includes $11.15 per Class A share of Sculptor.

Key Points: 
  • Rithm Capital Corp. (NYSE: RITM; “Rithm”), an asset manager focused on the real estate and financial services industries, and Sculptor Capital Management Inc. (NYSE: SCU; “Sculptor”), a global alternative asset manager with $34 billion in assets under management (“AUM”)(1), today announced entry into a definitive agreement under which Rithm will acquire Sculptor in a transaction valued at approximately $639 million(2), which includes $11.15 per Class A share of Sculptor.
  • View the full release here: https://www.businesswire.com/news/home/20230724360729/en/
    “This transaction is transformational for Rithm,” said Michael Nierenberg, Chairman, Chief Executive Officer and President of Rithm Capital.
  • “Sculptor’s $34 billion of AUM coupled with Rithm’s $7bn of permanent equity capital and $30+ billion balance sheet creates a world-class asset management business.
  • Rithm will acquire Sculptor in a transaction valued at approximately $639 million(2).

Debevoise Continues West Coast Expansion with Addition of Two Litigation Partners

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火曜日, 7月 18, 2023
Martha Plimpton, Advertising, University, College, Central District, Yale Law School, The Honourable, University of California, IP, Appeal, American College of Trial Lawyers, District court, SAN, Growth, Hacking, American College, Federal Criminal Police Office (Germany), Douglas v. U.S. District Court ex rel Talk America, Williams College, DeBevoise, White collar, Private investigator, Management, Property management, San Francisco Bay Area

Their arrivals bolster the firm's litigation capabilities on the West Coast, following the addition of SEC veteran and white collar partner Kristin Snyder and IP litigation partner Jay Neukom in 2022.

Key Points: 
  • Their arrivals bolster the firm's litigation capabilities on the West Coast, following the addition of SEC veteran and white collar partner Kristin Snyder and IP litigation partner Jay Neukom in 2022.
  • I look forward to leveraging my trial expertise in California to advise our West Coast clients in their most challenging legal matters."
  • Mr. Tabaie added: "Debevoise has a well-earned reputation in complex commercial litigation and for having a uniquely collaborative culture.
  • Prior to joining Debevoise, Mr. Tabaie was a litigation partner in the Palo Alto office of another international law firm.

Beacon Announces Agreement to Repurchase All Outstanding Series A Cumulative Convertible Participating Preferred Stock

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金曜日, 7月 7, 2023
Architecture, Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Building Systems, Urban Planning, Martha Plimpton, CD, LLP, Nate, Bank statement, GAAP, CD&R, Sidley Austin, Goldman Sachs, BECN, EBITDA, Acquisition, Partner, Pleasure, Clayton, Dubilier & Rice, Ambition, R, Hand, Dubilier, Rare-earth element, Audit, Holding company, Security (finance), Beacon

Beacon (Nasdaq: BECN) (the “Company”, “we,” “us” or “our”) today announced that it has reached an agreement with Clayton, Dubilier & Rice, LLC ("CD&R") to repurchase all of the outstanding shares of its Series A Cumulative Convertible Participating Preferred Stock (the “Series A Preferred Stock”) held by CD&R’s affiliate.

Key Points: 
  • Beacon (Nasdaq: BECN) (the “Company”, “we,” “us” or “our”) today announced that it has reached an agreement with Clayton, Dubilier & Rice, LLC ("CD&R") to repurchase all of the outstanding shares of its Series A Cumulative Convertible Participating Preferred Stock (the “Series A Preferred Stock”) held by CD&R’s affiliate.
  • Beacon is also announcing estimated preliminary results for the quarter ended June 30, 2023 and updating its full year 2023 outlook.
  • The 400,000 outstanding shares of Series A Preferred Stock will be repurchased from CD&R for an aggregate amount equal to $804.5 million plus aggregate accrued and unpaid dividends as of the repurchase date.
  • As of June 30, 2023, there were 63.4 million shares of common stock outstanding, exclusive of customary dilutive elements.