The Deal
Sunday, November 8, 
12:26 pm

— March 23, 2009 —

Cover story

Deals that defined an era

It begins with AOL-Time Warner and ends with the demise of Bear Stearns.

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Editor's Note

Editor's letter: Nov. 2, 2009

The behavioral crowd gets its chance to define us. But if we're all irrational, who should we follow?


Regulatory

A new map?

The DOJ and FTC consider revised deal guidelines.


Industry Insight

Mezz dispenser

Recent developments in the English restructuring market may leave mezzanine lenders in the cold.


Judgment Call

Risk, reconsidered

The architecture of recent M&A deals reflects a changed environment. On the whole there has been an increased focus on risk allocation.



Table of contents

Bankruptcy

Every man for himself

No one definition of what a successful bankruptcy is binds lawyers and advisers, which may be one reason why there are so many repeat filings.


Bankruptcy

Front end of a tsunami

Large bankruptcies are coming in waves now, and the professionals working on them are in for the rides of their life.


Analysis

Paging Dr. Scholl

The consumer-products subplot in the pharmaceutical megamergers.


Backstory

The trouble with Twitter

The hot new social networking tool has a lot of users -- too bad it lacks a business model.


Media Maneuvers

Lent for Rent

Eager to discern a trend, the media has scrambled to tell us how we children of recession have gotten so thrifty. What's next: Victory gardens?


Capital Calls

Not all that fail proof

Leverage -- lots of it -- can bring down businesses in this recession, with or without covenants.


Hard Times

Condo corus

A Chicago bank sings the blues under a ton of foreclosed mortgages, but it's not alone.


Follow the Money

The limbo line

Zombie banks wait for their day of reckoning, but more often than not, the FDIC acts on its own schedule.


Analysis

Intimations of fragility: 2001

The dot-com debacle spread, terrorists attacked and Enron imploded — it was a year to check your certainties at the door.


Analysis

In search of the uber-mensch

AIG chairman Edward Liddy takes his lumps testifying before Congress.


Rules of the Road

Through the back door

The Sept. 11 attacks couldn't generate enough political heat to melt the privacy protections that some state governments offer corporate owners, but the financial crisis just might.


View from the City

From sidekick to star

While debt markets remain quiet, the retained corporate broker is at the center of the U.K.'s financing action.


Industry Insight

Media savvy

M&A tips in broadcasting deals.


Analysis

Little pharma blues

As the economy foundered, drug industry insiders looked forward to an M&A frenzy. But with a few exceptions, deals occurred only at the top of the food chain.


View from the City

Unintended consequences

The asset protection scheme could encourage banks to force an otherwise salvageable debt into default, but that's not what the economy needs.


Private Equity

Playing through

Tips on private equity portfolio management.


Safe Harbor

Attitude adjustment

Proposed changes to Delaware's corporate law statute reflect a desire to appear responsive to shareholders.


Deal Diary

Dow, Rohm add to legal teams

Fried Frank's Daniel Bursky advised Paulson & Co. in its role in the Dow-Rohm deal.


Movers and Shakers

Dialoguing at Deutsche

Bruce Evans takes the reins of Deutsche's M&A effort at a difficult time.


Deal Diary

Medtronic's heart beats for deals

This winter, Medtronic bought three privately held heart-valve replacement technology firms. Fredrikson & Byron's John Wurm and others advised on its CoreValve.


Deal Diary

Merck, Schering play follow the pharma

Damian Ridealgh and other Fried Frank attorneys advised Merck on its deal for Schering.


Movers and Shakers

How the other half banks

Aryeh Bourkoff has just been named UBS' joint global head of media and communications investment banking.


Deal Diary

Cooley warms up to Gilead

Gilead tapped Cooley Godward's Rick Climan for advice on its $1.4B CV Therapeutics deal.


Movers and Shakers

Next stop, VC

Fresh from organizing online fundraising for the Obama campaign, Facebook co-founder Chris Hughes has joined General Catalyst Partners as entrepreneur-in-residence.


Judgment Call

Dressed for distressed

Distressed acquisitions take center stage.


Arbitrage

Risk arbitrage: March 23, 2009

CNPCI's Verenex deal needs Libya's OK, and GFIA needed more time to restructure deal financing for its Forsys buy, so the target pushed back the close date.


Editor's Note

Transactions: March 23, 2009

Bringing back Glass-Steagall involves a variety of tough questions about safety and viability. And then there's the problem of who gets to call the shots.


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