The Deal
Tuesday, November 24, 
10:35 pm

— June 8, 2009 —

Cover story

The future and other problems

The good news: Private equity is sitting on billions in investor capital. The bad news: It faces masses of maturing debt, some dicey investments and great uncertainty.

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Editor's Note

Editor's letter: Nov. 16, 2009

Beneath the veneer of Wall Streeters beats the same heart, stirred by the same determinants of behavior.


Regulatory

Of politics and pay

How to fix executive compensation rules without breaking the companies.


Industry Insight

Before the honeymoon ends

Thinking differently about conflict resolution.


Judgment Call

The price of R&D

FAS 141(R): A new source of shareholder litigation against innovation-driven companies?



Table of contents

Private Equity

That worrying wall of debt

Private equity can't get back to business until it figures out what to do with $430 billion in loans due between 2012 and 2014.


Deals

The new normal

With $33 billion in cash and equivalents and a track record of 133 acquisitions since it snapped up its first company in 1993, it's no stretch to say Cisco wrote the book on tech M&A.


Venture Capital

Honey, I shrunk the VCs

Smaller funds, smaller firms, smaller deals and smaller exits may be the future of venture capital.


Regulatory

Antitrust 2.0

The return of tech dealmaking brings with it a revived threat of scrutiny.


Deals

The other exit

Tech IPOs are on the rise.


Media Maneuvers

Little Miss Sunshine

Climb off the Roubini bandwagon. Join the BusinessWeek optimism campaign and sip from an economic glass half-full.


Analysis

Surveying the sandlot

Proposals to reregulate derivatives haven't even been submitted yet, and Congress is already bickering over who will control what.


Analysis

Playing defense on patents

RPX aims to protect tech companies from trolls, but that can also entail doing business with them.


Analysis

Still friends?

Australian-Chinese mining deals are politically contentious and financially volatile. Now the Chinalco-Rio Tinto deal has collapsed.


Capital Calls

Cushioning the blow

Sealy tries an elegant defensive move and a trio of -- yes! -- dividends.


Industry Insight

Proper arrangements

Revenue recognition rules can affect accounting and pricing strategies. See Oracle-Sun.


Bankruptcy

Self-help

In German bankruptcies, managers normally get fired and companies usually get liquidated. But SinnLeffers tried a more American approach.


Rules of the Road

Reckoning for off-book assets

New accounting rules are aimed at curtailing the practice of housing shaky loans outside the balance sheet.


Deals

Deep cleansing treatment

As Pfizer prepares for another digestive challenge in the form of Wyeth, it is trying to unload some compounds it already has.


Analysis

Arguments postponed

Earnouts are figuring in many deals these days, but more than a few may be headed for court.


Analysis

Open and shut

Sun Micro's purchase of database provider MySQL shows the challenges involved in acquiring open-source software.


View from the City

Play by the rules

Some thought Kroes would cede moral and even legal authority for the duration of the financial crisis, but that hasn't happened.


Judgment Call

PIPE fitting

PIPEs, the 20% rule and alternative outcomes.


Safe Harbor

Poison puts, part 2

In his ruling in Amylin, Delaware's Lamb stripped away a key protection from debtholders.


Industry Insight

Golden eggs

Managing intellectual property assets.


Movers and Shakers

Warburg's secret weapon

Michael E. Martin has turned up at Warburg Pincus.


Deal Diary

Quattrone drops into Data Domain

Frank Quattrone finds himself in the middle of a bidding war.


Movers and Shakers

Temple opens up

Chris Temple is in as president of Vulcan Capital.


Analysis

Deals decoded

M&A in 2009: Financing isn't the only hurdle.


Deal Diary

Davis Polk dines on OpenTable

OpenTable's shares rose 60% on their first day of trading -- the biggest first-day gain in 18 months. But will this mark an end to the IPO drought?


Deal Diary

AlixPartners drives GM

AlixPartners will oversee the dismantling of up to 20 GM factories and a handful of brands. Meanwhile, Weil's GM bankruptcy team is led by Harvey Miller.


Deal Diary

Skadden fronts Fortress

Skadden's Joseph Coco was front and center on Fortress' Zwirn deal.


Dealsense

Weed and feed

The economy is doing fine, except for those unsightly brown patches.


Arbitrage

Risk arbitrage: June 8, 2009

Max Capital and IPC argue that their combination is strategically superior to one between Validus Holdings and IPC.


Editor's Note

Transactions: June 8, 2009

On economic metaphors and the shooting of "green shoots."


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