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Mergers & Acquisitions
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November 06, 2024
McGuireWoods-Led Teledyne Pays $710M For Defense Assets
Led by McGuireWoods LLP, Teledyne Technologies Inc. said Wednesday it will buy certain aerospace and defense electronics businesses from Excelitas Technologies Corp., guided by Fried Frank Harris Shriver & Jacobson LLP, for $710 million in cash.
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November 06, 2024
Nano Dimension Targeted By Activist Investor Murchinson
Nano Dimension shareholder Murchinson Ltd. has nominated two independent candidates to stand for election to the Israeli 3D printing company's board while slamming the current board for its inability to hold CEO Yoav Stern accountable, saying that it's time to address the company's "persistent undervaluation, improve its allocation of capital and fix a broken boardroom culture."
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November 06, 2024
Simpson, Clifford Chance Build $4B Blackstone Deal For REIT
Blackstone announced Wednesday it will pay $4 billion to acquire grocery store-focused real estate investment trust Retail Opportunities Investment Corp., in a deal built by respective legal advisers Simpson Thacher & Bartlett LLP and Clifford Chance US LLP.
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November 06, 2024
TA Makes €1.21B Bid For German Healthcare Tech Biz
U.S. private equity firm TA Associates Management LP has offered to acquire Nexus AG in a public takeover offer, valuing the German healthcare technology company at €1.21 billion ($1.3 billion).
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November 05, 2024
What Trump's Return Means For Bank Regulation: 5 Questions
With former President Donald Trump now projected to return to the White House, financial services attorneys are predicting the banking industry will see a sharp rightward turn at the Consumer Financial Protection Bureau and a much softer touch elsewhere in the federal regulatory arena.
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November 05, 2024
Trump Has Official Immunity. What About His Aides?
Whether the U.S. Supreme Court's decision on presidential immunity extends to subordinates who follow a president's orders has become a more pressing question in the wake of Donald Trump's projected election win, according to legal experts.
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November 05, 2024
How Trump Can Quash His Criminal Cases
Donald Trump's projected victory at the polls also translates to a win in the courts, as the second-term president will have the power to end both of his federal criminal cases. And the U.S. Supreme Court's decision on presidential immunity would shield him from any consequences for ordering his charges to be dismissed, experts say.
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November 05, 2024
An Early Look At Trump's Supreme Court Shortlist
With former President Donald Trump projected to win the 2024 presidential election and the Republicans' success in securing the U.S. Senate majority, Trump may now get the chance to appoint two more justices to the U.S. Supreme Court, cementing the court's conservative tilt for decades to come.
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November 05, 2024
GOP's Senate Win Hands Future Of The Judiciary To Trump
Republicans were projected to take back the White House and Senate and possibly the House early Wednesday, putting the GOP in position to back Donald Trump's agenda and his slate of young, conservative judicial nominees.
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November 05, 2024
The Firms With An Inside Track To A New Trump Admin
Law firms that have represented Donald Trump and the Republican Party on everything from personal legal woes to election-related lawsuits could see the risks of that work pay dividends as Trump is projected to secure a second term in office.
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November 05, 2024
Ex-US Attorney Wins Wash. Attorney General Race
Seattle's former U.S. attorney Nick Brown will become Washington's next attorney general and the first Black man to hold the position, beating a mayor from the eastern part of the state who ran on his record as a gun rights advocate, the Associated Press projects.
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November 05, 2024
Trump Media Reports $19M Quarterly Loss On Election Day
The parent of projected Republican presidential winner Donald Trump's social media platform reported a $19.2 million quarterly loss in an Election Day filing Tuesday, the same day trading of its shares were halted three times because of volatility.
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November 05, 2024
Pa. AG Gets Order To Stop Glass Plant Dismantling
The investment-firm parent of kitchenware company Anchor Hocking Holdings can't dismantle a recently shuttered glass plant in Pennsylvania until the state attorney general argues her case that the purchase and closure of the plant may be anticompetitive, according to a court order unsealed Monday.
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November 05, 2024
Bankruptcy Not Delaying NJ Health System's Antitrust Case
A New Jersey federal magistrate judge on Tuesday partly denied CarePoint Health Management's request to delay its antitrust case against RWJBarnabas Health Inc. because of CarePoint's recent bankruptcy filing.
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November 05, 2024
Fubo Defends Block Of Sports Streaming Service At 2nd Circ.
Fubo is defending a New York federal judge's order blocking the launch of a sports-only streaming service from ESPN, Fox and Warner Bros. Discovery at the Second Circuit, telling judges there that competitors wouldn't stand a chance in the sports streaming market without the programming that the three behemoths control.
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November 05, 2024
Shuttered NHL Talent Rep Wants $1.2M Finnish Arb. Suit Nixed
The owner of a now-defunct talent agency that represented professional hockey players has asked a Massachusetts federal judge to toss a $1.2 million lawsuit and said he intends to appeal a decision freezing his assets while the suit from a rival Finland–based management company proceeds in U.S. federal court.
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November 05, 2024
Film Production Services Co. Hits Ch. 11 With Sale Plans
A film production services company owned by embattled private equity firm 777 Partners has filed for Chapter 11 protection in Delaware with $88.9 million in liabilities, blaming the COVID-19 pandemic, Hollywood strikes and its owner's legal and financial troubles.
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November 05, 2024
Lifeway Rejects Danone Buyout, Implements 'Poison Pill'
Illinois-based fermented foods maker Lifeway Foods Inc. said Tuesday it has rejected a roughly $283 million offer from Danone North America PBC to buy the remaining stake it doesn't own in the company, and Lifeway has also implemented a so-called poison pill strategy to prevent Danone from prevailing.
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November 05, 2024
Mayer Brown Lands Paul Hastings PE Atty In Chicago
Mayer Brown LLP is preparing for a possible uptick in mergers and acquisitions work next year with the addition of an experienced private equity attorney in Chicago from Paul Hastings LLP.
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November 05, 2024
Alterra, JP Morgan JV Sells Property Portfolio In $490M Deal
A joint venture between Alterra IOS and institutional investors advised by J.P. Morgan Asset Management on Tuesday announced that it has sold a 51-property portfolio to Peakstone Realty Trust in an off-market transaction valued at $490 million that was built by five law firms.
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November 05, 2024
Simpson Thacher Acquires 'Rising Star' M&A Partner Duo
Simpson Thacher & Bartlett LLP said Tuesday that it has added two new partners in its mergers and acquisitions practice to help the firm keep up with demand for high-end M&A services.
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November 05, 2024
Glazer Sues In Del. For Appraisal In $7.2B Squarespace Deal
Five funds of Glazer Capital LLC sued late Monday for Delaware Court of Chancery appraisal of the investment management firm's more than 2.8 million shares of website builder Squarespace Inc., seeking to better the company's $46.50 per share price for a recently closed take-private acquisition by interests of Permira Advisers LLC.
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November 05, 2024
Atos Inks Deal To Sell Worldgrid Biz To Alten At €270M Value
French information technology company Atos said Tuesday it has agreed to sell its Worldgrid business at an enterprise value of €270 million ($294 million) to Alten, an engineering and technology consulting firm also based in France, nearly five months after disclosing that the deal was in the works.
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November 05, 2024
Emerson Eyes Remaining AspenTech Shares At $15.1B Value
Emerson Electric said Tuesday it has proposed to buy the remaining shares of AspenTech common stock it does not already own for $240 per share in cash, an offer that would give the industrial software company a $15.1 billion enterprise value.
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November 05, 2024
On The Ground: How Attorneys Safeguarded The Election
Attorneys worked tirelessly Tuesday to support citizens and election workers on the final day of voting in one of history's most contentious presidential contests.
Expert Analysis
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With Esmark Case, SEC Returns Focus To Tender Offer Rules
The U.S. Securities and Exchange Commission's recent enforcement action against Esmark in connection with its failed bid to acquire U.S. Steel indicates the SEC's renewed attention under Rule 14e‑8 of the Exchange Act on offerors' financial resources as a measure of the veracity of their tender offer communications, say attorneys at MoFo.
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HSR Amendments Intensify Merger Filing Burdens, Data Risk
The antitrust agencies' long-awaited changes to premerger notification rules under the Hart-Scott-Rodino Act stand to significantly increase the time and cost involved in preparing an initial HSR notification, and will require more proactive attention to data issues, says Andrew Szwez at FTI Technology.
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What's Inside Feds' Latest Bank Merger Review Proposals
Recent bank merger proposals from a trio of federal agencies highlight the need for banks looking to grow through acquisition to consider several key issues much earlier in the planning process than has historically been necessary, say attorneys at Simpson Thacher.
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State Of The States' AI Legal Ethics Landscape
Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.
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How Biden Admin Has Used Antitrust Tools, And What's Next
The last four years have been marked by an aggressive whole-of-government approach to antitrust enforcement using a broad range of tools, and may result in lasting change regardless of the upcoming presidential election result, say attorneys at Norton Rose.
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How BIS' Rule Seeks To Encourage More Voluntary Disclosure
Updated incentives, penalties and enforcement resources in the Bureau of Industry and Security's recently published final rule revising the Export Administration Regulations should help companies decide how to implement export control compliance programs and whether to disclose possible violations, say attorneys at Freshfields.
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8 Childhood Lessons That Can Help You Be A Better Attorney
A new school year is underway, marking a fitting time for attorneys to reflect on some fundamental life lessons from early childhood that offer a framework for problems that no legal textbook can solve, say Chris Gismondi and Chris Campbell at DLA Piper.
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Harris Unlikely To Shelve Biden Admin's Food Antitrust Stance
A look at Vice President Kamala Harris' past record, including her actions as California attorney general, shows why practitioners should prepare for continued aggressive antitrust enforcement, particularly in the food and grocery industries, if Harris wins the presidential election, says Steve Vieux at Bartko.
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Opinion
This Election, We Need To Talk About Court Process
In recent decades, the U.S. Supreme Court has markedly transformed judicial processes — from summary judgment standards to notice pleadings — which has, in turn, affected individuals’ substantive rights, and we need to consider how the upcoming presidential election may continue this pattern, says Reuben Guttman at Guttman Buschner.
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Series
Playing Diplomacy Makes Us Better Lawyers
Similar to the practice of law, the rules of Diplomacy — a strategic board game set in pre-World War I Europe — are neither concise nor without ambiguity, and weekly gameplay with our colleagues has revealed the game's practical applications to our work as attorneys, say Jason Osborn and Ben Bevilacqua at Winston & Strawn.
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Mental Health First Aid: A Brief Primer For Attorneys
Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.
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John Deere Penalty Shows Importance Of M&A Due Diligence
The U.S. Securities and Exchange Commission's recent $10 million penalty against John Deere underscores the risks of not conducting robust preacquisition due diligence and not effectively integrating a new subsidiary into the existing compliance framework, say attorneys at Ropes & Gray.
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8 Issues AI Firms May Encounter As M&A Action Accelerates
As the AI merger climate heats up, potential complications may arise, including antitrust scrutiny, talent retention agreements, and aggressive and protective deal terms intended to compensate for lofty valuations, say Scott Schwartz and Kishan Barot at Manatt.
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Series
Collecting Art Makes Me A Better Lawyer
The therapeutic aspects of appreciating and collecting art improve my legal practice by enhancing my observation skills, empathy, creativity and cultural awareness, says attorney Michael McCready.
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Del. Dispatch: Cautionary Tales Of 2 Earnout Effort Breaches
The Delaware Court of Chancery's tendency to interpret earnout provisions precisely as written, highlighted in two September rulings that found buyers breached their shareholder obligations when they failed to make reasonable efforts to hit certain product development milestones, demonstrates the paramount importance of precisely wording these agreements, say attorneys at Fried Frank.