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Mergers & Acquisitions
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February 21, 2025
WilmerHale Corporate Ace Joins DLA Piper In California
DLA Piper has added a former WilmerHale attorney to strengthen its corporate practice, including bolstering its service to clients in the life sciences and healthcare industries.
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February 21, 2025
Trump Media Board Plans M&A Expansion Fund
Trump Media and Technology Group Corp., the operator of President Donald Trump's social media platform Truth Social, said Friday that its board has voted to authorize the creation of an acquisition fund that will focus on potential mergers and acquisitions across tech, finance and other sectors.
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February 21, 2025
Sidley Adds 3 Fried Frank M&A Attys In NY
Sidley Austin LLP announced it has hired a trio of mergers and acquisitions and private equity partners from Fried Frank Harris Shriver & Jacobson LLP to bolster the firm's transactional bench in New York.
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February 21, 2025
Taxation With Representation: Kirkland, V&E, Cravath, Dechert
In this week's Taxation With Representation, Diamondback Energy buys Midland Basin assets from another oil and natural gas company, GTCR closes its second strategic growth fund, Light & Wonder Inc. buys Grover Gaming's assets, and Barings acquires Artemis Real Estate Partners.
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February 21, 2025
Freshfields Guides Celsius On $1.8B Alani Energy Brand Buy
Freshfields US LLP is advising Celsius Holdings Inc. on a new agreement to acquire Alani Nutrition for $1.8 billion, in a push from one of the leading U.S. energy drink companies to bolster its appeal to women and younger consumers.
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February 21, 2025
Plane Parts Biz Loar To Buy Fan Maker LMB For €365M
U.S. aerospace component maker Loar Holdings Inc. said it has agreed to acquire LMB, a French manufacturer of fans and motors for the sector, for €365 million ($382 million) in cash to bolster its proprietary portfolio.
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February 20, 2025
Select SPAC Targets Are Soaring Ahead Of The Pack
A select breed of companies that went public through mergers with special purpose acquisition companies are performing well lately — hailing mostly from a few specific industries — in stark contrast to the vast majority of SPAC merger targets that have flopped over the past few years, according to data released on Thursday.
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February 20, 2025
Del. Chief Justice Targets Social Media's Pressure On Courts
Acknowledging that "some of those who lose don't take it well" and have tools to "cause judges great pain," Delaware's chief justice told a state budget panel Thursday that social media had amplified dissatisfaction with some court rulings despite global respect for the state's system.
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February 20, 2025
JPMorgan Has 'Buyer's Remorse' Over $175M Buy, Javice Says
Frank founder Charlie Javice believed in her student loan company, her lawyer told a Manhattan federal jury Thursday, pushing back against charges that the executive tricked JPMorgan Chase into a $175 million acquisition by claiming the case is about "buyer's remorse."
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February 20, 2025
Schwab Antitrust Settlement With Investors Gets Initial OK
A Texas federal judge has granted the first green light to a settlement calling for Charles Schwab Corp. to implement an antitrust compliance program designed by an independent consultant, resolving a class of retail investors' claims they had to pay increased transaction costs for trades following the Schwab-TD Ameritrade merger in 2020.
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February 20, 2025
Squire Patton Leads Valvoline On $625M Breeze Autocare Buy
Squire Patton Boggs LLP is guiding Valvoline Inc. on a deal announced Thursday that slates the automotive services company to acquire Breeze Autocare from Greenbriar Equity Group for approximately $625 million in cash.
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February 20, 2025
Conn. Atty Seeks New Injunction Against Ex-Law Partner
Connecticut attorney Ryan McKeen is causing irreparable harm to the windup of his former law firm and should be barred from any further involvement like communicating with vendors, contractors and accountants, his onetime 50-50 partner told a state court judge in seeking a temporary injunction.
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February 20, 2025
No Deal In Sight For DOJ's Case Against Amex GBT Merger
The Justice Department and American Express Global Business Travel appear unlikely to settle a government challenge to the planned $570 million purchase of CWT, according to a New York federal court filing that came just a day after the transaction got a boost from U.K. authorities.
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February 20, 2025
Competition Group Of The Year: Cravath
Cravath Swaine & Moore LLP scored a trailblazing antitrust verdict for Epic Games when a California federal jury decided Google's Play Store illegally dominated the Android app market, making Cravath one of the 2024 Law360 Competition Groups of the Year.
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February 20, 2025
EV Maker Nikola Aims For Quick Ch. 11 Sale
Counsel for Nikola Corp., which makes electric and hydrogen-powered trucks, told the Delaware bankruptcy court on Thursday the company hopes to hold a bankruptcy auction by the end of March and find a buyer before its cash runs out in mid-April.
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February 20, 2025
Sen. Warren Wants DOJ To Probe Disney-FuboTV Deal
Sen. Elizabeth Warren is calling on the U.S. Department of Justice to "closely scrutinize" Disney's acquisition of a majority stake in the live television streamer Fubo, saying the deal raises serious antitrust concerns and could allow Disney to inflate prices.
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February 20, 2025
Musk's X Seeks Cash At $44B Valuation, Plus More Rumors
Elon Musk is seeking to raise money for his social media platform X at a $44 billion valuation — the same price he paid to buy the site in 2022 — while BP is considering selling its Castrol lubricants unit for $10 billion and KKR could inject $5 billion into ailing British utility Thames Water. Here, Law360 breaks down the notable deal rumors from the past week.
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February 20, 2025
KKR Clinches Fuji Soft Majority Stake Ahead Of Take-Private
KKR said Thursday it has secured a majority stake in Fuji Soft by completing the second stage of a tender offer after prevailing over rival bidder Bain Capital, as it readies to privatize and take full control of the Japanese company through a so-called squeeze-out of the remaining shares.
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February 20, 2025
Tavistock Investments Completes £18M Asset Manager Buy
Tavistock Investments PLC said Thursday that it has wrapped up its acquisition of asset manager Alpha Beta Partners in a deal worth up to £18 million ($23 million) as the financial service business looks to expand into Britain's retail investment market.
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February 19, 2025
Ex-Perella Weinberg Partner Denies Plot To Split Firm
A former Perella Weinberg partner on Wednesday testified that he had no plans to break off and start his own restructuring advisory shop before the investment banking firm fired him for purportedly violating his nonsolicitation provisions of his partnership agreements.
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February 19, 2025
Constitutional Claims Fail To Stop SEC Insider Trading Suit
A Texas man must face U.S. Securities and Exchange Commission claims that he profited off of inside information about a Boston Scientific acquisition that he learned about from his domestic partner after a federal judge rejected his arguments that the regulator sued him unconstitutionally.
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February 19, 2025
Casino SPAC Shareholders Sue Execs Over Failed Merger
A public shareholder of a blank check company that failed to merge with a Philippines-based casino has accused the special purpose acquisition company's directors of orchestrating a deal process with "recklessness, deceit, and bad faith," is and seeking damages beyond the $11 million settlement the company struck in another related suit.
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February 19, 2025
FTC 'Independence' When Dissent Can 'Get You Fired'
The independence of agencies meant to run separately from the executive branch is on the chopping block and observers say that while the Federal Trade Commission already aligns itself with the White House to a large degree, unrestricted presidential power over commissioners could reshape the FTC in important ways.
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February 19, 2025
Prospect Medical Blames Yale Lawsuit For Ch. 11 Filing
Bankrupt hospital operator Prospect Medical Holdings is seeking to convince a Connecticut federal judge to have a bankruptcy court oversee a $435 million lawsuit through which Yale New Haven Health is trying to back out of buying three Prospect hospitals, saying the case played a key role in its bankruptcy filing.
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February 19, 2025
Franchise Group Gets Tentative Deal On Ch. 11 Voting Process
Retail chain operator Franchise Group Inc. and a group of lenders told a Delaware bankruptcy judge on Wednesday they were close to agreeing on a disclosure statement for Franchise Group's Chapter 11 plan that will let the debtor take votes on the proposed debt-for-equity and liquidation deal.
Expert Analysis
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Series
Gardening Makes Me A Better Lawyer
Beyond its practical and therapeutic benefits, gardening has bolstered important attributes that also apply to my litigation practice, including persistence, patience, grit and authenticity, says Christopher Viceconte at Gibbons.
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Takeaways From DOJ's Intervention On Pricing Algorithm Use
A recent U.S. Justice Department amicus brief arguing that a Nevada federal judge wrongly focused on the nonbinding aspect of software company Cendyn Group's pricing algorithm underscores the growing challenge of determining when, if ever, pricing algorithms are legal, say attorneys at Rule Garza.
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Equitable Mootness Insights From Greenlit Ch. 11 Plan Appeal
A Texas federal court recently allowed a challenge to ConvergeOne's Chapter 11 bankruptcy plan to proceed because it wouldn't disrupt the IT company's confirmed plan or harm creditors, reinforcing the importance of judicial restraint in applying equitable mootness where limited relief is possible, say attorneys at Parkins & Rubio.
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Litigation Inspiration: Reframing Document Review
For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.
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Expect More State Scrutiny Of PE In Healthcare M&A
While a California bill that called for increased antitrust scrutiny of many healthcare private equity transactions was recently vetoed by the governor, state legislatures are likely to continue introducing similar laws, particularly if the Trump administration eases federal enforcement, say attorneys at Morgan Lewis.
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3 Changes Community Banks Should Expect Under Trump
A second Trump administration promises a sea change for regional and community banks, including shifts in the regulatory environment, Community Reinvestment Act rules and the M&A landscape, say attorneys at Manatt.
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How CFIUS' Updated Framework Affects Global Investors
The recent change to the monitoring and enforcement regulations governing the Committee on Foreign Investment in the United States will broaden administrative practices around nonnotified transaction investigations, increase the scope of information demands from the committee and accelerate its ability to impose mitigation on parties, say attorneys at Simpson Thacher.
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Service Providers Must Mitigate 'Secondary Target' Risks
A lawsuit recently filed in an Illinois federal court against marketing agency Publicis over its work for opioid manufacturers highlights an uptick in litigation against professional service providers hired by clients that engaged in alleged misconduct — so potential targets of such suits should be sure to conduct proper risk analysis and mitigation, say attorneys at Dechert.
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Opinion
FTC Actions In Oil Cases Go Against Its Own Rulemaking
Two recent Federal Trade Commission actions concerning the oil and gas industry appear to defy its own merger guidelines, with allegations that fall far short of the commission's own standard — raising serious questions about the agency's current approach, say attorneys at Clifford Chance.
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Series
Flying Makes Me A Better Lawyer
Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.
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Takeaways From Final Regulations For China Investment Ban
The U.S. Department of the Treasury’s final rule banning U.S. investment in emerging Chinese technology clarifies some key requirements, includes additional exceptions for covered transactions and attempts to address concerns that the rule will put U.S. businesses at a competitive disadvantage, say attorneys at Simpson Thacher.
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Series
Circus Arts Make Me A Better Lawyer
Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.
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Recent Listeria Outbreaks Hold Key Compliance Lessons
Listeria outbreaks in ready-to-eat foods from Boar's Head and other companies, and the U.S. Department of Agriculture and U.S. Food and Drug Administration responses to these outbreaks, should be closely evaluated from an overall compliance and risk management perspective by food manufacturers, retailers and industry investors, say attorneys at Kirkland.
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3 Ways To Train Junior Lawyers In 30 Minutes Or Less
Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.
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Expect Surging Oil And Gas Industry Under New Trump Admin
Throughout his recent campaign, President-elect Donald Trump promised increased oil and natural gas production and reduced reliance on renewables — and his administration will likely bring more oil and gas dealmaking, faster federal permitting and attempts to roll back incentives for green energy, say attorneys at Sidley.