3/24/15

UPCOMING EVENTS

Softball Registration: TBLS Softball starts 3/29. Game are Sundays at 4pm at the IM fields. Sign up here.

TBLS 2nd Annual M&A School, April 10 & 11, Francis Auditorium – Registration is now open on Symplicity! The Friday sessions is 1-5pm, Saturday is 9am-1pm. Lunch and Breakfast are provided. Please see the attached flyer for additional information or stop by our table next week to hear more about the event and register. This is our biggest event of the year and CSO also provides resume credit.
Past participants described the event as:
“[A] good overview of the process, very beneficial overall and gaining exposure to many technical terms”
“Best part was [the] perspective of speakers and stories of what actually happens…”
Additional questions please email txbusinesslaw@gmail.com
Summer Employment – If you have not already, please fill out the summer employment form here. Submissions can be anonymous and any individual employment data will not be shared outside the TBLS Executive Board. We use employment statistics to help attract sponsors and attorney participation. We are also planning several summer events and want them to be targeted towards locations where most of our membership will be.
1st Annual TBLS Battle for the Cup Golf Tournament: The first annual Battle for the Cup will be held at the beautiful River Place Country Club on April 2nd, 2015. The Battle for the Cup will be a four-person scramble comprised primarily of student organization teams competing to win the Lone Star Cup. Along with the top overall prize, scramble teams will be able to compete for top honors in three divisions; Top men’s team, top Women’s team, and top Co-Ed team. Following the golf tournament there will be a reception at the River Place clubhouse for the Tournament participants. TBLS will sponsor 2 teams. If you would like to participate, please email Aaron Gankofskie  Agankofskie@Utexas.edu

3/10/15

UPCOMING EVENTS

TODAY: Officer & Committee Applications – The application for Officers and Committees is attached below. All applications are due TODAY by 5pm.
TOMORROW: Crash Course in Private Equity, 12-1:30pm, Francis Auditorium  – presented by Kirkland & Ellis and co-sponsored with TJOGEL. This will be a lunchtime presentation by attorneys from Kirkland & Ellis and will be followed by a Happy Hour from 5-7 at Javelina on Rainy Street with K&E’s attorneys.

Please RSVP by completing the survey at this link: https://www.surveymonkey.com/r/UT2015CCPE

If you have any questions please contact Molly Blonn at molly.blonn@kirkland.com or +1 (713) 835-3614

 Summer Employment – If you have not already, please fill out the summer employment form here. Submissions can be anonymous and any individual employment data will not be shared outside the TBLS Executive Board. We use employment statistics to help attract sponsors and attorney participation. We are also planning several summer events and want them to be targeted towards locations where most of our membership will be.
Tshirts: If you still haven’t gotten your shirt we will have them in the office TOMORROW (2.125) from 3:45-5pm
1st Annual TBLS Battle for the Cup Golf Tournament: The first annual Battle for the Cup will be held at the beautiful River Place Country Club on April 2nd, 2015. The Battle for the Cup will be a four-person scramble comprised primarily of student organization teams competing to win the Lone Star Cup. Along with the top overall prize, scramble teams will be able to compete for top honors in three divisions; Top men’s team, top Women’s team, and top Co-Ed team. Following the golf tournament there will be a reception at the River Place clubhouse for the Tournament participants. TBLS will sponsor 2 teams. If you would like to participate, please email Aaron Gankofskie  Agankofskie@Utexas.edu

3/3/15

UPCOMING EVENTS

Officer & Committee Applications – The application for Officers and Committees is attached below. All applications are due next Tuesday 3/10 by 5pm.
Summer Employment – If you have not already, please fill out the summer employment form here. Submissions can be anonymous and any individual employment data will not be shared outside the TBLS Executive Board. We use employment statistics to help attract sponsors and attorney participation. We are also planning several summer events and want them to be targeted towards locations where most of our membership will be.
3/11 Crash Course in Private Equity, 12-1:30pm, Francis Auditorium  – presented by Kirkland & Ellis and co-sponsored with TJOGEL. This will be a lunchtime presentation by attorneys from Kirkland & Ellis and will be followed by a Happy Hour from 5-7 at Javelina on Rainy Street with K&E’s attorneys.

Please RSVP by completing the survey at this link: https://www.surveymonkey.com/r/UT2015CCPE

If you have any questions please contact Molly Blonn at molly.blonn@kirkland.com or +1 (713) 835-3614

TBLS 2nd Annual M&A School, April 10 & 11 – Our biggest event of the year will take place Friday afternoon and Saturday morning. Partners and associates from Norton Rose Fulbright will present and entire M&A deal from start to finish. There will also be a networking reception after the Friday session. More information to come!

TBLS is on Twitter! Love the 5 things? Looking for a more frequent and even quicker way to see what’s going on in the markets and transactional law world? Follow us @TxBLS

TERM OF THE WEEK

ASSET SALEA sale of a business in which the buyer acquires only specific assets (and possibly assumes some liabilities).  Unlike a stock sale, the buyer obtains the assets usually free and clear of any liabilities of the seller. The buyer also gets the advantage of a “step-up” in basis on the assets purchased based on their allocated fair market values.

5 THINGS TO KNOW THIS WEEK

1. Barclays, Weighed Down by Litigation Charges, Reports Annual Loss

LONDON — Barclays said on Tuesday that it fell to a loss in 2014 as its annual results were dragged down by charges related to potential fines and litigation costs for past conduct by its employees, and lower income in its investment bank as the lender continues to shrink that business.

The bank’s annual results included 2.8 billion pounds, or about $4.3 billion, in litigation and conduct charges. That included £750 million in the fourth quarter related to continuing investigations into the potential manipulation of foreign currency trading markets, bringing the total set aside for 2014 to about £1.25 billion.

2. Delaware Courts Pause on the Deal Price Do-Over

The latest hedge fund strategy to seek higher returns has hit speed bumps courtesy of the Delaware courts in a recent case involving Ancestry.com.

The strategy involves exercising what are known as appraisal rights, or dissenters’ rights, which allows shareholders of an acquired company to go to court to seek more cash if they think the takeover price was too low.

Until recently, appraisal rights were seldom exercised. To pursue a claim, a shareholder must hire lawyers and experts and sue in court. This can be expensive and time-consuming. The results are also uncertain because a court may award less than the amount offered in the takeover. Most shareholders don’t want to take the time, expense or risk.

 3. Calculating the Odds of a Comcast-Time Warner Cable Deal

Time Warner Cable’s deal risk is going down to the wire.

The $45 billion sale of Time Warner to its larger rival, Comcast, has already been under consideration for nearly a year by regulators. A Federal Communications Commission, preoccupied with its decision to treat the Internet like a utility, caused part of the delay. The agency’s decision to raise the standard for high-speed broadband also set off fresh concerns that it might influence the Justice Department’s analysis. The implied chances for success are now at 60 percent, close to the lowest in the market since the transaction was announced.

 4. Apple Car Seen as Serious Competitor by Auto Executives

(Bloomberg) — Automotive executives are taking seriously the prospect that Apple Inc. and Google Inc. will emerge as competitors even as they consider partnering with the two.

“If these two companies intend to solely produce electric vehicles, it could go fast,” Volkswagen AG Chief Executive Officer Martin Winterkorn said at the Geneva International Motor Show. “We are also very interested in the technologies of Google and Apple, and I think that we, as the Volkswagen company, can bring together the digital and mobile world.”

5. Wall Street Has Its Eyes on Millennials’ $30 Trillion Inheritance

There have been any number of pieces written about how the millennial generation is consciously refusing to do things that preceding generations thought were perfectly reasonable, such as playing golf or investing in the stock market or even doing a SINGLE NICE THING  for someone else!

This seems to have caused some consternation on Wall Street, where the powers-that-be would obviously like to see millennials do at least one nice thing for them: hand over all their money.