Mergers & Acquisitions

  • April 09, 2024

    ArentFox Schiff Bets On Auto Sector With 4 Boston Partners

    ArentFox Schiff LLP has brought on four partners from midsize Boston firm Burns & Levinson LLP who specialize in representing the automotive industry, according to a Tuesday announcement by the firm.

  • April 09, 2024

    New Relic Shareholder Sues To Force Open Corp. Books

    Another shareholder of web analytics firm New Relic Inc. has sued in Delaware's Court of Chancery for corporate records related to the company's $6.5 billion, $87-per-share buyout by private equity firms Francisco Partners and TPG, the latest in a string of shareholder suits seeking records on the deal.

  • April 09, 2024

    Blue Owl Targets Real Estate Finance After $170M Prima Buy

    Asset manager Blue Owl Capital Inc. on Tuesday unveiled plans to launch a real estate finance strategy following its $170 million purchase of real estate lender Prima Capital Advisors in a deal crafted by three firms, marking the firm's second acquisition in two weeks meant to broaden its service offerings.

  • April 09, 2024

    Paul Hastings-Led STG Makes £147M Offer For Software Co.

    Gresham Technologies PLC said on Tuesday it has agreed to an offer from U.S. private equity firm STG Partners LLC to buy the software business for £146.7 million ($185.6 million).

  • April 09, 2024

    HSBC To Take $1B Hit From Sale Of Argentina Unit

    HSBC said Tuesday that it will book a $1 billion loss on the sale of its business in Argentina to local lender Grupo Financiero Galicia, as the London-based bank continues to shift its focus to Asia.

  • April 08, 2024

    Ex-Autonomy Exec Says Boss's Invoice Ask Caused Concern

    A former Autonomy finance employee took the stand Monday in the criminal fraud trial of ex-CEO Michael Lynch and finance director Stephen Chamberlain, telling a California federal jury that he was "not comfortable" with one of Chamberlain's invoice requests and was sacked after raising concerns about accounting irregularities.

  • April 08, 2024

    Gamers Can't Block Microsoft From 'Dismantling' Activison

    A California federal judge on Monday refused to block Microsoft from further integrating Activision Blizzard into its business after it acquired the gaming titan last year, saying the gamers who are still challenging the union between the companies have a similar motion pending before the Ninth Circuit.

  • April 08, 2024

    3 Firms To Lead Weber Investor Suit Over $3.7B PE Buyout

    Prickett Jones & Elliot, Grant & Eisenhofer PA, and Kessler Topaz Meltzer & Check will together represent a proposed class of investors in grill maker Weber Inc. in consolidated litigation in Delaware's Court of Chancery over a $3.7 billion squeeze-out by private equity firm BDT Capital Partners LLC, Chancellor Kathaleen St. Jude McCormick decided on Monday in what she described as a "close call."

  • April 08, 2024

    SEC 'Shadow Trading' Victory Could Bring DOJ Knocking

    Now that the U.S. Securities and Exchange Commission has convinced a jury that a pharmaceutical executive committed insider trading by purchasing a competitor's stock in a practice often referred to as "shadow trading," attorneys say federal prosecutors might be tempted to dip their toe into the waters of the previously untested legal theory.

  • April 08, 2024

    FTC's Slaughter Defends International Cooperation

    Several federal agency leaders said Monday they are working across the government to help boost competition, as Federal Trade Commissioner Rebecca Kelly Slaughter touted the importance of cooperation on competition issues at home and abroad.

  • April 08, 2024

    Southwest Gas Unit Centuri Eyes Spinoff Through $242M IPO

    Southwest Gas Holdings Inc.'s infrastructure services unit Centuri Holdings Inc. on Monday unveiled terms for an estimated $242 million initial public offering that would lead to Centuri becoming a standalone public company, represented by Morrison Foerster LLP and underwriters' counsel Skadden Arps Slate Meagher & Flom LLP.

  • April 08, 2024

    Chancery Approves $36M Sirius XM Settlement, $9.6M Atty Fee

    Sirius XM Holding Inc. stockholders who sued in Delaware's Court of Chancery over an alleged ongoing squeeze-out by Liberty Media Corp. won court approval Monday of a $36 million settlement to end their litigation, along with a $9.6 million payout for their attorneys and $50,000 for the lead plaintiff.

  • April 08, 2024

    McConnell Expresses Support For TikTok Divestiture Bill

    Senate Minority Leader Mitch McConnell, R-Ky., on Monday stressed the need for the House-passed bill to clamp down on TikTok, citing vast national security concerns.

  • April 08, 2024

    Judge Urged To Reject UnitedHealth's Antitrust Deal Qualms

    Patients who cut a $55 million antitrust settlement with NorthShore University HealthSystem are urging an Illinois federal court to reject objections by United Healthcare Services, arguing that the insurer has no standing to derail the deal and that its challenge to the agreement could dilute their recovery.

  • April 08, 2024

    Czech Firm Says Its Vista Deal Offers Benefits Over Rival Bid

    Czechoslovak Group A.S. on Monday reaffirmed its commitment to its planned $1.9 billion acquisition of Vista Outdoor's sporting products business, which is also being pursued by rival bidder MNC Capital, noting that it has fully committed financing and has already received antitrust clearance from the Federal Trade Commission.

  • April 08, 2024

    PE Firm Calls FTC's Antitrust Claims 'Many Yesterdays' Old

    A Texas anesthesiology company and the private equity firm that created it told a Houston federal judge Monday that the Federal Trade Commission has gone back "many yesterdays ago" in making its antitrust case, arguing that there's no imminent threat of a monopoly in an attempt to get the case dismissed.

  • April 08, 2024

    McMahon Sells Millions More In TKO Stock Amid Abuse Suit

    WWE's disgraced founder Vince McMahon, who was recently accused of trafficking a former employee, continues to loosen his grip on the wrestling company he founded, most recently selling $311 million worth of stock in WWE's parent, according to a Monday securities filing.

  • April 08, 2024

    Catching Up With Delaware's Chancery Court

    Last week, a much-watched Chancery Court Match.com decision got reversed, a Philip Morris motion got stubbed out, and a long-frozen Blue Bell Creameries suit started churning again. Delaware's Court of Chancery also saw new suits filed for legal fees, arguments over multibillion-dollar pay packages, and a judge flummoxed over Truth Social.

  • April 08, 2024

    Tradeweb Pays $785M For Investment Tech Firm ICD

    Tradeweb Markets Inc., advised by Fried Frank Harris Shriver & Jacobson LLP, on Monday announced that it has agreed to buy institutional investment technology provider Institutional Cash Distributors LLC, advised by Kirkland & Ellis LLP, for $785 million.

  • April 08, 2024

    Plot Holes Doom JPMorgan 'Fraud' Narrative, Frank Exec Says

    The founder of a startup meant to help college students apply for financial aid said an indictment claiming she duped JPMorgan Chase & Co. into a buyout should be dismissed because it fails to identify her alleged co-conspirators or fraudulent statements.

  • April 08, 2024

    Schumer Seeks More Data, Details About Capital One Deal

    Senate Majority Leader Chuck Schumer said Monday that he has requested more information about Capital One and Discover Financial Services' planned $35.3 billion merger, including data on the interest rates they charge and details about any potential layoffs that could stem from the deal.

  • April 08, 2024

    3 Firms Build $2.3B Hospitality Biz SPAC Merger

    Singapore-headquartered Hotel101 Global Pte Ltd., a hotel prop-tech operator pioneering a standardized "condotel" business model, announced Monday that it plans to go public through a merger with blank-check company JVSPAC Acquisition Corp. in a deal built by three firms that will give it an equity value of $2.3 billion post-closing.

  • April 08, 2024

    Kirkland-Led Vista Buying Medtech Co. 'Model N' For $1.25B

    Kirkland & Ellis LLP-led Vista Equity Partners has agreed to buy Fenwick & West LLP-advised Model N, a provider of revenue optimization and compliance tools for healthcare tech companies, in a take-private transaction valued at approximately $1.25 billion, the companies said Monday. 

  • April 08, 2024

    Simpson Reps Blackstone On $10B AIR Communities Buy

    Blackstone has agreed to purchase Apartment Income REIT Corp. in a take-private transaction valued at approximately $10 billion, with Simpson Thacher & Bartlett LLP and Skadden Arps Slate Meagher & Flom LLP serving as legal counsel, respectively, the firms said Monday. 

  • April 05, 2024

    Meta Looks To Nix FTC's Antitrust Case Over Acquisitions

    Meta Platforms urged a D.C. federal court on Friday to toss the Federal Trade Commission's antitrust case against it, saying the agency has found no evidence showing its acquisitions of Instagram and WhatsApp hurt competition or consumers.

Expert Analysis

  • Reimagining Law Firm Culture To Break The Cycle Of Burnout

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    While attorney burnout remains a perennial issue in the legal profession, shifting post-pandemic expectations mean that law firms must adapt their office cultures to retain talent, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • Assessing Merger Guideline Feedback With Machine Learning

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    Large language modeling appears to show that public sentiment matches agency intent around the new merger control guidelines from the Federal Trade Commission and U.S. Justice Department, says Andrew Sfekas at Cornerstone Research.

  • Series

    Competing In Dressage Makes Me A Better Lawyer

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    My lifelong participation in the sport of dressage — often called ballet on horses — has proven that several skills developed through training and competition are transferable to legal work, especially the ability to harness focus, persistence and versatility when negotiating a deal, says Stephanie Coco at V&E.

  • What Cos. Evaluating M&A Can Glean From Latest HSR Report

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    The recently released Hart-Scott-Rodino report for fiscal year 2022 helps unearth important data points for companies as they evaluate potential transactions, including that, despite a historically low enforcement rate, the number of actions exceeds the number of second requests for the first time in nearly 20 years, say Ryan Quillian and John Kendrick at Covington.

  • Ch. 11 Ruling Highlights 'Two-Step' Challenges In 4th Circ.

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    A North Carolina bankruptcy court’s recent ruling in Bestwall’s Chapter 11 case, and the decision's interpretation of Fourth Circuit law, suggests that, compared to other circuits, it may be more difficult to dismiss so-called Texas Two-Step bankruptcy cases within the Fourth Circuit, say Brittany Falabella and Kollin Bender at Hirschler Fleischer.

  • Chancery's Sears Ruling Clarifies Stockholder Duties

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    In a recent landmark decision involving stockholders of Sears Hometown and Outlet Stores, the Delaware Chancery Court addressed for the first time what precise duties a controlling stockholder owes, highlighting that controller interference with board action is not per se invalid and that enhanced scrutiny is a reasonableness test, say Christopher Chuff and Taylor Bartholomew at Troutman Pepper.

  • The Legal Industry Needs A Cybersecurity Paradigm Shift

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    As law firms face ever-increasing risks of cyberattacks and ransomware incidents, the legal industry must implement robust cybersecurity measures and privacy-centric practices to preserve attorney-client privilege, safeguard client trust and uphold the profession’s integrity, says Ryan Paterson at Unplugged.

  • 5 Reasons Associates Shouldn't Take A Job Just For Money

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    As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.

  • How Biotech Deals May Help Competition, Despite FTC View

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    The Federal Trade Commission's complaint against Sanofi's proposed partnership with Maze Therapeutics highlights increasing skepticism of so-called killer acquisitions, but a closer look reveals potentially legitimate reasons behind why entities might decide to delay or abandon the development of acquired products, say consultants at Analysis Group.

  • Series

    Playing Competitive Tennis Makes Me A Better Lawyer

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    My experience playing competitive tennis has highlighted why prioritizing exercise and stress relief, maintaining perspective under pressure, and supporting colleagues in pursuit of a common goal are all key aspects of championing a successful legal career, says Madhumita Datta at Lowenstein Sandler.

  • Series

    The Pop Culture Docket: Judge Djerassi On Super Bowl 52

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    Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.

  • Reverse Merger Tips For Biotechs After SEC's Recent Actions

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    Several recent U.S. Securities and Exchange Commission developments could limit the viability of reverse mergers for biotech companies, and will require additional creativity and analysis for private companies looking to go public, say attorneys at Orrick.

  • What R&W Insurance Access Means For Small-Cap M&A

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    As a slowdown in mergers and acquisitions has increased insurer appetite for underwriting small-cap transactions, buyers of small and midsize enterprises stand to benefit from easier access to representations and warranties insurance, which can add protection and reassurance for all parties involved in a deal, say Caroline Thee and Ewelina Mikocewicz at Taft Stettinius.

  • Del. Dispatch: Efforts Clause Trumps Contractual Right

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    The Delaware Court of Chancery's Chordia v. Lee ruling this month — that the efforts clause set forth in a stockholders' agreement overrode the acquired company's right to fire its officers and employees — highlights key considerations for parties in such agreements to avoid post-acquisition disputes, say attorneys at Fried Frank.

  • Employee Experience Strategy Can Boost Law Firm Success

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    Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.

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