LATEST ANALYSIS
July 2011
28 Jul 2011
Glencore, the UK-listed Swiss commodity trader, unearthed a large disclosure pitfall recently when it discovered that sometimes less really is more when it comes to financial disclosures…
28 Jul 2011
Chinese variable interest entity agreements are fast becoming a prickly thorn in the sides of PRC-focused foreign investors and their legal counsel. Following incidents…
28 Jul 2011
The Securities and Exchange Commission has voted unanimously to re-propose for public comment its plan to strengthen rules surrounding asset-backed securities...
28 Jul 2011
Prepackaged deals, stalking horse bids and debtor-in-possession loans are all tools used to ease the restructuring process. Recent experiences at OPTI Canada, Nortel and Indalex highlight…
28 Jul 2011
Chinese Integrated Energy, a non-state-owned energy company in the PRC has reshuffled its auditor, again. Earlier this week the company disclosed that it had re-engaged…
28 Jul 2011
In a rare peek into the hidden and complex world of UK bank M&A, RBS has filed details of Santander’s £350 million splurge on 318 of its British bank branches, even as the Spanish lender struggles with euro zone debts…
28 Jul 2011
The Securities and Exchange Commission earlier this week adopted new rules in light of the requirements of Section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act to…
28 Jul 2011
It’s not just time to make the donuts, but time to roll out the IPO at Dunkin’ Brands…
28 Jul 2011
Due diligence for board nominees should be a two-way endeavor, undertaken by the company as well as the nominee. Yet board nominees rarely complete adequate and systematic due diligence on the prospective company and the members of its board of directors prior to joining...
28 Jul 2011
The debt ceiling debate may be white noise to the public, but for companies and investment funds, the governmental standoff has real consequences…
28 Jul 2011
General contractor Bird Construction is moving into three new sectors – heavy construction, civil construction and contract surface mining – with the company’s recent announcement that it intends to acquire privately-held H.J. O’Connell, Limited…
26 Jul 2011
Allegations of bribery and corruption brought the sky down on News Corp’s BSkyB bid but might the media storm cut to the very core of News Corp? Contrary to some assertions, a review of potential FCPA or Bribery Act prosecution suggests there may be...
26 Jul 2011
Singapore’s financial and corporate watchdogs are joining forces to give the city-state’s company laws a much needed update. The Singaporean Ministry of Finance…
26 Jul 2011
A gargantuan merger in the pharmaceutical industry will see Medco shareholders receive $29.1 billion from a deal with Express Scripts, Inc…
26 Jul 2011
As bank lending to real estate business in China trickles, developers are turning to U.S. capital markets for help. Chinese property developer Kirin International Holdings…
26 Jul 2011
Canadian securities regulators have proposed amendments to National Instrument 41-101 – General Prospectus Requirements to address “significant identified gaps”, clarify certain provisions, streamline certain requirements and codify previously granted relief...
26 Jul 2011
A recent increase in biofuel production is the result of two major regulatory programs: The EU's Emissions Trading Scheme and the U.S. EPA's Renewable Portfolio Standard. The impact of both pieces of legislation is particularly evident in the aviation industry...
26 Jul 2011
In a much anticipated change to UK takeover rules, the Takeover Panel has introduced new rules governing the regulation of takeover bids in the UK as it seeks to level the playing field between bidders and target companies…
26 Jul 2011
Energy services bigwig Cameron International has upped its corporate governance game...
26 Jul 2011
In the latest evidence that Canadian REITs remain bullish on real estate at home and abroad, Dundee International REIT has launched a $410 million IPO with plans to acquire…
26 Jul 2011
The Securities and Exchange Commission and the Commodity Futures Trading Commission solicited public comment Monday on how to harmonize swaps regulation in the United States, Asia and Europe...
25 Jul 2011
The Philippine Stock Exchange is set to launch a special board for Philippine listed companies that are willing to be governed by stricter corporate governance standards in line with international standards and best practices...
22 Jul 2011
China's regulators remain behind the curve in the derivatives space compared to Chinese banks and corporates, many of whom are already established players in international derivatives markets...
21 Jul 2011
The Basel Committee has popped CoCo hopes by ruling out these convertible debt instruments from counting towards the capital requirements of systemically important banks…
21 Jul 2011
Though Canada has had foreign bribery legislation in effect for over a decade, prosecutions have proven very few and very far between. So it remains to be seen whether…
21 Jul 2011
A feared slowdown in the Chinese economy coupled with a losing fight against rising inflation has done little to dampen the PRC real estate sector. Although Chinese banks…
21 Jul 2011
As allegations of corruption continue to belittle Britain’s anti-sleaze credentials, the FSA has come out fighting, imposing its largest fine to date for financial crime and control failings…
21 Jul 2011
Vancouver-based gold and copper producer Northgate Minerals has entered into an agreement to purchase Primero Mining of Toronto, owner of the San Dimas gold-silver mine in Mexico, in a deal valued at approximately $365 million...
21 Jul 2011
The Houston-based Rowan Companies will sell off 31 drilling rigs to Ensign United States Drilling, picking up $510 million in the process…
21 Jul 2011
Sandstorm Metals & Energy has filed a preliminary short-form prospectus in connection with a bought deal offering of $45 million in units, as the company continues to add to its portfolio of commodity streaming agreements…
21 Jul 2011
Nissan will fuel its retail leasing engine this summer by issuing $875 million in asset-backed notes...
21 Jul 2011
The on-again-off-again merger between Energy Transfer Equity and Southern Union appears back on, after a restructured $9.4 billion bid…
21 Jul 2011
Leading Chinese property developer Evergrande Real Estate Group recently launched a securities defensive against preying PRC short sellers…
19 Jul 2011
The buffalo are gone, but thanks to Oklahoma’s Corporations Law, the state’s handful of big companies won’t likely pull up stakes anytime soon…
19 Jul 2011
Private equity has again cast its gimlet eye toward healthcare, with Apax Partners picking up Kinetic Concepts for $6.3 billion…
19 Jul 2011
A mammoth acquisition by Aussie mining firm BHP Billiton will pump billions into the pockets of Petrohawk Energy shareholders...
19 Jul 2011
Governments around the world may regret the vitriol they cast at rating agencies as these American companies turn the tables on sovereign debt-marred governments and drive the agenda in the U.S. and EU. Turning the hunted into the hunters…
19 Jul 2011
A wave of accounting scandals involving China-based enterprises listed overseas have highlighted black holes in global securities laws…
19 Jul 2011
Although the province of Alberta currently implements a moderate greenhouse gas emissions reduction program, the federal government is seeking control and oil sands-related industries do not know what the final requirements, costs, or effects…
19 Jul 2011
A continuing share ownership battle between rival luxury goods companies Louis Vuitton Moet Hennessy and Hermes has prompted new legislation aimed at raising the bar for disclosure rules for equity derivatives positions...
19 Jul 2011
The U.S. Financial Stability Oversight Council on Monday approved the criteria and process it will use in determining which "financial market utilities”...
19 Jul 2011
Rental car giant Hertz expects a smooth ride in its acquisition of Donlen Corp for $930 million…
19 Jul 2011
An annual report from the UK’s Audit Inspection Unit, part of the Financial Reporting Council, has identified a lack of professional skepticism and an inadequate use of experts in UK statutory audits…
19 Jul 2011
The Williams Companies have raised the stakes in their bid to acquire natural gas concern Southern Union...
19 Jul 2011
Calgary-based OPTI Canada has commenced proceedings under the Companies' Creditors Arrangement Act in order to buy some time to implement a restructuring of its balance sheet…
19 Jul 2011
High-productivity mining equipment maker Joy Global Inc is making a foray into China through its finance-savvy neighbor, Hong Kong. The company recently announced…
18 Jul 2011
Singapore has emerged as the next jurisdiction to receive its fair share of negative publicity from mainland Chinese companies listed on its bourse...
14 Jul 2011
The euro zone financial contagion may be on the verge of a pandemic as Moody’s downgrade of Portuguese sovereign debt spreads signs of distress to Portuguese debt offerings and Italian banks. Disclosures show that Greek fiscal sickness is raising…
14 Jul 2011
Nonpaying large footprint tenants are attempting to actively renegotiate massive leases with high-profile landlords including Simon Property Group and Regency Centers. Surprising enough, many of these nonpaying tenants are not of the mom and pop variety…
14 Jul 2011
Labor arbitrators are much sought-after in China, where labor disputes involving a wide spectrum of employment matters are on the rise. Disgruntled workers with complaints…
14 Jul 2011
In response to ongoing market volatility, Canada’s Office of the Superintendent of Financial Institutions has issued a guideline setting out expectations for federally regulated life insurance companies…
14 Jul 2011
In a victory for ratings agencies and the retired, Bank of Ireland, the part-nationalized Irish bank, has been forced into a revision of its rights issue as it acknowledges that it may have underestimated the obstacles to restructuring its debt…
14 Jul 2011
Defense contractor General Dynamics has scored a direct hit with a $1.5 billion offering of senior notes…
14 Jul 2011
Target Corp has set its sights on securing cheap debt, offering notes in two series totaling $1 billion…
14 Jul 2011
Japan’s Toyota Motor Corporation is whipping its car parts back into shape. The company’s auto unit recently took another step in implementing Toyota’s Global Vision…
14 Jul 2011
Apparently convinced that the long-term outlook for copper is rosy, Stillwater Mining Company has agreed to acquire Vancouver-based Peregrine Metals in a deal valued at $487 million…
14 Jul 2011
After two years in the making, the hotly anticipated BRF Brasil Foods merger has finally passed regulatory muster…
13 Jul 2011
As the Dodd-Frank Wall Street Reform and Consumer Protection Act approaches age one on July 21, its chief beneficiaries so far – consultants, lawyers and lobbyists...
12 Jul 2011
Capital markets in New Zealand are getting a regulatory makeover as watchdogs rewrite the remote country’s securities legislation from top to bottom…
12 Jul 2011
Canadian life sciences company SQI Diagnostics has set its sights on a German target as it seeks to grow in the field of advanced diagnostics systems. On July 4, SQI announced it has entered into an agreement to acquire Scienion AG…
12 Jul 2011
The kid who never left home has a new weapon in the extended adolescence arsenal, courtesy of BillMyParents, Inc…
12 Jul 2011
A storm is brewing over BSkyB that may rain down fiduciary concerns on its directors and drench even the most watertight MAC clause, as allegations of police bribery, illegal hacking and political hush-ups make News Corp’s bid…
12 Jul 2011
For prospective buyers targeting Canadian companies, the plan of arrangement has become a favored mechanism for implementing deals. Flexible, with a lower approval threshold than under a traditional bid, and sanctioned by the courts…
12 Jul 2011
As Groupon admits in its prospectus, any industry less than three years old offers plenty of risk to go along with the potential for astronomical growth. Social media companies face special considerations when preparing their IPOs...
12 Jul 2011
Orange County is getting a high-tech boost from Israel’s Office of Chief Scientist (OCS), thanks to a merger between Newport Corp and Ophir Optronics…
12 Jul 2011
Amidst the China bears, one private equity fund remains bullish three times over. UK mutual fund giant Fidelity Investments beefed up its China portfolio earlier this week…
11 Jul 2011
The European Securities and Markets Authority is finalising its policy approach to exchange-traded funds and will publish a consultation document on ETFs and...
6 Jul 2011
For Major League Baseball Commissioner Allan H. “Bud” Selig, the Dodgers’ Chapter 11 pitch is low and outside…
6 Jul 2011
The stop-and-go flow of Brazilian M&A has been favored with a new green light of sorts…
6 Jul 2011
Austin-based Freescale Semiconductor will close a debt circuit, registering more than $1.2 billion of senior notes offered for exchange…
6 Jul 2011
“The Donald” seems to have licensed out his name to every Tom, Dick, and Harry desiring association with the mogul. Not every license agreement results in a financial success...
6 Jul 2011
Rights issues, debt offerings and retail cascades are heading for a shakeup in Europe as the European Securities and Markets Authority sets out fundamental and far-reaching prospectus proposals to ensure greater consistency across Europe…
6 Jul 2011
Antitrust regulators in the People’s Republic of China are keeping busy. In addition to drafting new regulations on anti-competition merger review, the Ministry of Commerce…
6 Jul 2011
Indian energy juggernaut Essar Energy plc has filed details of its £219 million (US$350 million) acquisition of the UK’s second largest refinery from Shell UK as it seeks to combine British technology with Indian firepower…
6 Jul 2011
Renewable chemicals company Ecosynthetix recently filed a preliminary prospectus in connection with a proposed IPO...
6 Jul 2011
Over the past two years, Canada has been sending mixed messages to foreign companies seeking to conduct business in the land of the maple leaf. Two recent decisions in the Canadian Federal Court of Appeal may provide a bit of clarity…
6 Jul 2011
Beleaguered bookseller Borders has found itself, if not a white knight, then a white stalking horse in Direct Brands…
6 Jul 2011
PRC pipeline natural gas provider China Natural Gas may soon bow out of U.S. capital markets...
6 Jul 2011
Some firms providing municipal advisory services to municipal entities and their obligated persons may not be registered with the SEC and MSRB...
5 Jul 2011
The Securities and Exchange Commission provided additional guidance Friday as to which securities laws will apply to security-based swaps starting July 16...