Mergers & Acquisitions

  • June 06, 2024

    Biote Investors Sue Cooley, SPAC After Huge Merger Loss

    Family trust investors in Biote Corp. have sued Cooley LLP and the "hormone optimization" company's top brass over the $700 million merger Biote completed with a special purpose acquisition company, saying the deal was a "disastrous transaction to divert approximately $70 million of merger consideration to themselves and gain control of an enterprise they did not build."

  • June 06, 2024

    MNC Capital Ups Bid For Vista Outdoor To More Than $3B

    MNC Capital Partners on Thursday upped its bid to take over outdoor products company Vista Outdoor Inc. to over $3 billion after the company rejected MNC's previous buyout offers on multiple occasions due to its already-inked agreement to sell its sporting products division to Czech defense company Czechoslovak Group AS.

  • June 06, 2024

    Lewis Brisbois Adds Corporate Pro In DC From Womble Bond

    Lewis Brisbois Bisgaard & Smith LLP announced Thursday that it has hired a partner for its corporate practice group who previously worked at Womble Bond Dickinson and also has prior in-house experience.

  • June 06, 2024

    North Carolina AG Narrows Target In Hospital Contract Suit

    The North Carolina Attorney General's office has agreed to drop for-profit hospital network HCA Management Services from a lawsuit over allegedly unsafe and unsanitary conditions at its Asheville hospital, although an affiliate remains as a defendant, according to a joint stipulation in the state Business Court.

  • June 06, 2024

    Deals Rumor Mill: Carl Icahn, Bill Ackman, Michael Bloomberg

    Carl Icahn invests in Caesars, Bill Ackman plans Pershing's public offering, and Michael Bloomberg joins prospective Timberwolves buying group. Here, Law360 breaks down the notable deal rumors from the past week.

  • June 06, 2024

    Latham Leads Robinhood In $200M Buy Of Crypto Exchange

    Robinhood said on Thursday that it will buy cryptocurrency exchange Bitstamp for approximately $200 million, as the electronic trading platform looks to scale up its global services for digital assets.

  • June 06, 2024

    Fried Frank Exec Comp Partner Moves To Paul Hastings In NY

    Executive compensation lawyer Jason Ertel has joined Paul Hastings LLP's global compensation, benefits and ERISA practice as a partner in New York, the firm said Thursday.  

  • June 06, 2024

    Watford FC Fans Set To Score In Sale Of 10% Of Club

    English football club Watford has put 10% of the outfit up for sale for £17.5 million ($22.4 million) to fans and investors, in a bid to raise revenue and strengthen the squad.

  • June 06, 2024

    Haynes Boone Guides Natural Gas Producer's SPAC Merger

    An Italian natural gas producer has said that it will merge with a Nasdaq-listed blank-check company to help accelerate its transition to clean energy in a deal steered by Haynes and Boone and Greenberg Traurig.

  • June 05, 2024

    StarTek Controller Sued In Del. After Public-Share Buyout

    Two public stockholders of global customer experience outsourcing consultant StarTek Inc. sued four company directors and its private equity controller in Delaware's Court of Chancery on Wednesday, alleging an unfair and conflicted $4.30-per-share buyout of the company's remaining public shares.

  • June 05, 2024

    Judge Denies Fubo Bid For Texts On Streaming Bundle

    A New York federal judge on Wednesday denied FuboTV's bid to obtain text messages from executives at Disney, ESPN, Fox and Warner Bros. Discovery discussing the joint venture streaming plan at the heart of Fubo's ongoing antitrust suit.

  • June 05, 2024

    Sam Ash Approved For Ch. 11 Sale Process With Baseline Bid

    Bankrupt music store chain Sam Ash Music Corp. received approval Wednesday from a New Jersey bankruptcy judge for procedures governing its Chapter 11 asset sale process after negotiating concessions with its lenders, the official committee of unsecured creditors and the U.S. Trustee's Office.

  • June 05, 2024

    Debevoise-Led Ambac Unveils 2 Deals Totaling $702M

    Debevoise & Plimpton LLP-led Ambac Financial Group on Wednesday announced two deals totaling $702 million, as the insurance holding company said it agreed to sell its financial guarantee business for $420 million in cash and separately announced that it will purchase a majority stake in Beat Capital Partners for roughly $282 million.

  • June 05, 2024

    Cannabis Co. Protests $4M Award, Asserting Arbitrator Error

    Cannabis company Neptune Wellness Solutions Inc. urged a New York federal court Tuesday to upend a nearly $4 million arbitration award to an entrepreneur whose business merged with the Canadian company, asserting that the winnings, specifically attorney fees, should have been reduced by 98%.

  • June 05, 2024

    Microsoft Blasts Gamers' Bid To Add To Activision Appeal

    Microsoft Corp. says the Ninth Circuit should reject a "bevy of additional, extra-record 'facts'" seeking to hold up the recent layoffs of 1,900 Activision and Xbox employees as proof that the tech giant's acquisition of Activision Blizzard Inc. was anticompetitive.

  • June 05, 2024

    Del. Justices Uphold Chancery's Toss Of Auto Parts Deal Suit

    Delaware's Supreme Court has refused to reverse the Court of Chancery's 2023 dismissal of a stockholder suit accusing Chicago-based factory and automotive parts venture Distribution Solutions Group Inc. of failing to disclose conflicts surrounding and costs of a three-way merger in late 2021.

  • June 05, 2024

    Meta Can't Dodge Trial In Monopoly Suit, FTC Says

    The Federal Trade Commission said "voluminous evidence" cuts against Meta's bid to avoid trial over claims the social media giant illegally entrenched its monopoly in the market for personal social networking by acquiring WhatsApp and Instagram.

  • June 05, 2024

    Truth Social Investors Want Fla. Suit Paused For Del. Claims

    Two early investors in Donald Trump's Truth Social media company urged a Florida judge on Wednesday to pause the company's suit trying to claim their shares while a first-filed suit in Delaware is pending, arguing that the company is forum shopping in an attempt to get around an unfavorable Delaware Chancery Court order.

  • June 05, 2024

    Davis Polk Guiding Dollar Tree On Potential Family Dollar Sale

    Davis Polk & Wardwell LLP is representing Dollar Tree Inc. in a formal strategic review of its Family Dollar business that could lead to a sale, spinoff or other disposition, the Virginia-based retailer revealed Wednesday.

  • June 05, 2024

    Ex-Skadden Atty, Credit Suisse Beat TransPerfect's Fraud Suit

    A Delaware federal judge has tossed TransPerfect Holdings LLC's lawsuit alleging that misrepresentations by a now-retired Skadden Arps Slate Meagher & Flom LLP partner and Credit Suisse Securities (USA) LLC led it to pay too much for language translation company TransPerfect Global Inc., finding that claims are time-barred.

  • June 05, 2024

    Orrick-Led SAP Inks $1.5B Deal For Israeli Tech Co. WalkMe

    German software company SAP SE said Wednesday it has agreed to purchase software-as-a-service company WalkMe Ltd. for approximately $1.5 billion.

  • June 05, 2024

    FTC Can't Pause Novant's $320M Bid To Buy NC Hospitals

    The Federal Trade Commission on Wednesday lost its bid to block Novant Health from buying two local hospitals in North Carolina for $320 million while it conducts an in-house review, with a federal judge reasoning that competition would actually fare better if the merger advanced.

  • June 05, 2024

    Husch Blackwell Adds Berger Singerman Finance Pro In Fla.

    Husch Blackwell announced Tuesday the hiring of a finance partner from Berger Singerman to boost both its corporate practice group and its presence in Florida.

  • June 05, 2024

    HanesBrands Selling Champion To Authentic For Up To $1.5B

    HanesBrands said Wednesday it has agreed to sell its Champion business to Authentic Brands Group for up to $1.5 billion, under the guidance of Kirkland & Ellis LLP and Jones Day.

  • June 04, 2024

    PE Firm Tells 5th Circ. It Got Pushed Out Of EV Co. Acquisition

    Texas-based private equity company Ancor Holdings LP says it got pushed out of an acquisition deal by another private equity group it brought in as backup, arguing in oral arguments at the Fifth Circuit on Tuesday that a binding letter of intent means it's entitled to future profits.

Expert Analysis

  • 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.

  • Series

    Competing In Triathlons Makes Me A Better Lawyer

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    While practicing law and competing in long-distance triathlons can make work and life feel unbalanced at times, participating in the sport has revealed important lessons about versatility, self-care and perseverance that apply to the office as much as they do the racecourse, says Laura Heusel at Butler Snow.

  • Notes Of Interest From 5th Circ. Illumina-Grail Merger Ruling

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    Attorneys at Simpson Thacher consider the Fifth Circuit's recent decision upholding the Federal Trade Commission's challenge of the Illumina merger with Grail, its much-needed boost to the Biden administration's antitrust agenda, and some silver linings the decision offers to merging parties.

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