Oaktree Capital Group LLC agreed to sell packaging company Tekni-Plex Inc. to private-equity firm American Securities LLC in a transaction valued at more than $700 million, according to a person with knowledge of the deal.
Intellectual Ventures Inc., the company started by former Microsoft Corp. chief technology officer Nathan Myhrvold, wants to shift its image from patent troll to innovation facilitator, the Puget Sound Business Journal reported.
General Motors Corp.’s bankruptcy, which wiped out shareholders and left taxpayers on the hook for billions of dollars, is generating a new wave of profit for hedge funds that supersized their claim by betting on an obscure pool of GM debt issued in the Canadian province of Nova Scotia.
Wachtell Lipton Rosen & Katz advised Umpqua Holdings Corp., Oregon’s biggest bank, which agreed to pay about $2 billion in stock and cash to buy Sterling Financial Corp., the lender backed by Warburg Pincus LLC and Thomas H. Lee Partners LP.
Latham & Watkins LLP’s Zachary Fardon was nominated by President Obama to be U.S. Attorney for the Northern District of Illinois in Chicago. He would replace Patrick Fitzgerald, who left last June and joined Skadden Arps Slate Meagher & Flom LLP.
Weil Gotshal & Manges LLP , chief bankruptcy counsel for old General Motors Corp ., was docked almost $140,000 by the fee examiner for time spent reviewing the firm’s own time records. At a hearing tomorrow, the bankruptcy judge will pass on $14.7 million in fee requests by all professionals in the case for the period from Oct. 1 through Jan. 31.