Mergers & Acquisitions

  • October 16, 2024

    True Value Strikes Bridge Deal To Fund Ch. 11 Case With Cash

    Hardware store supplier True Value Co. is "laser focused" on closing a $153 million sale, attorneys for the company Wednesday told a Delaware bankruptcy judge who agreed to approve a two-week deal the debtor struck with a lender to use cash on hand to fund the Chapter 11 case.

  • October 16, 2024

    Ex-Pharma Co. Employee Traded On GSK Deal Info, SEC Says

    The former director of analytical development at Canada-based drug company Bellus Health Inc. has agreed to pay the U.S. Securities and Exchange Commission over $120,000 to settle claims that he sold shares on nonpublic information about pharma giant GSK's impending takeover of his company, according to court filings.

  • October 16, 2024

    NYSE Seeks To Curb Reverse Splits In Latest Crackdown

    The New York Stock Exchange wants to limit companies' ability to rely on reverse stock splits to raise their share prices and avoid delisting, submitting a proposal shortly after regulators approved a Nasdaq plan to rein in such splits.

  • October 16, 2024

    M&A Pros Cautious About Expected Private Equity Surge

    It's an oft-repeated line that private equity activity is set to surge amid pressure to exit older investments and deploy record stores of dry powder, but mergers and acquisitions professionals recently surveyed by Dykema were cautious when asked if they expect private equity to boost deal flow in the next 12 months, with a majority saying they only "somewhat agree." 

  • October 16, 2024

    PE Firm Trashed Exec To Avoid Payout In $98M Deal, Suit Says

    A Summit Partners affiliate and several executives concocted false allegations of misconduct to get out of fully compensating the owner of an investment management firm as part of an acquisition worth a reported $97.6 million, according to a complaint filed in Massachusetts state court.

  • October 16, 2024

    Contract Drafting Co. Law Insider Acquires OneNDA

    OneNDA, an open-source project spearheaded by The Law Boutique, announced Wednesday that it has been acquired by contract drafting tool provider Law Insider.

  • October 16, 2024

    Enforcers Won't Challenge $3B Energy Deal, $5B Coal Tie-Up

    Deadlines have passed for antitrust enforcers to challenge Oneok Inc.'s deal for a $3.3 billion stake in EnLink Midstream LLC and Arch Resources Inc.'s all-stock merger with Consol Energy Inc., a deal that's expected to create a natural resources company worth $5.2 billion.

  • October 16, 2024

    Two Circles Boosts 'Big 5' Sports Client Base With Kore Buy

    Sports data and entertainment company Two Circles said Wednesday it has agreed to buy sports industry intelligence platform Kore, in a deal that will create a merged company worth a reported $650 million.

  • October 16, 2024

    Skadden Drives Forest Road To Formula E Team Acquisition

    Los Angeles-based investment firm The Forest Road Company, advised by Skadden Arps Slate Meagher & Flom LLP, has purchased the ERT Formula E team. The team is rebranding as Kiro Race Co as it prepares to enter the 11th season of the ABB FIA Formula E World Championship under new ownership.

  • October 16, 2024

    Investor Pushes 7-Eleven Parent To Consider Couche-Tard Bid

    A U.S. investor in the Japanese parent company of 7-Eleven said Wednesday it is pushing the company to consider a revised buyout bid from Canada's Alimentation Couche-Tard Inc. that is said to carry a $47 billion price tag, telling Japan's Seven & i Holdings that an alternative restructuring plan the company recently revealed is "too little, too late."

  • October 16, 2024

    PE Giants Bridgepoint, General Atlantic Invest In Kyriba Corp.

    Private equity shops Bridgepoint and General Atlantic said Wednesday that they will invest in Kyriba in a deal that values the liquidity manager at more than $3 billion.

  • October 15, 2024

    Santander Settles Investors' Squeeze-Out Suit For $162.5M

    Santander Consumer USA Holdings Inc. has agreed to shell out $162.5 million to put to rest stockholders' consolidated class action challenging a $2.5 billion minority squeeze-out merger, according to a stipulation filed Monday in Delaware's Court of Chancery.

  • October 15, 2024

    Gamers End Challenge Of Microsoft's $69B Activision Deal

    Microsoft reached an agreement ending a challenge from a group of gamers targeting its $69 billion deal for Activision Blizzard as a merger challenge from the Federal Trade Commission remains pending at the Ninth Circuit.

  • October 15, 2024

    Finnish Sports Biz Wins Asset Freeze In $1.2M NHL Deal Suit

    A Massachusetts federal judge on Tuesday granted a Finland-based sports management company's request to freeze the assets of the American owner behind a shuttered agency that represented hockey players while it pursues litigation seeking more than $1.2 million owed from a deal to represent Finnish players in the NHL.

  • October 15, 2024

    Chancery Urged To Toss Smart & Final $1.1B Sale Challenge

    An attorney for funds of Ares Alternative Management Corp. told Delaware's chancellor on Tuesday a stockholder suit alleging breaches of fiduciary duty and corporate waste in a $1.1 billion sale of Smart & Final Stores Inc. failed to show disabling conflicts among company principals or advisers.

  • October 15, 2024

    4 Firms Steer Ownership Shakeup At 'Dune' Movie Maker

    Legendary Entertainment has completed a buyout of Chinese company Wanda Group's remaining equity interest in the movie studio behind "Dune" and "Dune: Part Two," a deal that gives sole ownership of the company to Legendary's management and funds managed by affiliates of Apollo.

  • October 15, 2024

    Three Cos. Combine On $3.4B Texas Data Center Complex

    Blue Owl Capital, infrastructure firm Crusoe Energy Systems and investor Primary Digital Infrastructure said Tuesday they are pooling $3.4 billion to build a 1 million-square-foot data center campus in Abilene, Texas.

  • October 15, 2024

    Frontier May Be Worth 2 Times Verizon's Bid, Investor Warns

    Frontier Communications Parent Inc. stockholder Cooper Investors Pty Ltd. on Tuesday expressed "strong opposition" to Verizon Communications Inc.'s planned $20 billion deal to absorb the company, arguing Frontier could be worth nearly double the $38.50 per share that Verizon plans to pay.

  • October 15, 2024

    Simpson Thacher, Milbank Guide $2B DataBank Equity Raise

    Data center developer and operator DataBank announced on Tuesday it has raised $2 billion in equity, led by AustralianSuper's $1.5 billion commitment, in an investment round arranged by Simpson Thacher and Milbank.

  • October 15, 2024

    Law Firms Diverge As Anti-ESG Pushback Continues

    A continuing onslaught of legislation and litigation opposing corporate environmental, social and governance actions has created a fork in the road for law firms, with some choosing to scale back efforts and others pushing ahead with their internal ESG and diversity, equity and inclusion goals.

  • October 15, 2024

    The 2024 Law360 Pulse Social Impact Leaders

    Check out our Social Impact Leaders ranking, analysis and interactive graphics to see which firms stand out for their engagement with social responsibility and commitment to pro bono service.

  • October 15, 2024

    Wheel Pros Gets OK For $1.4B Equity-Swap Ch. 11 Plan

    A Delaware bankruptcy judge on Tuesday approved automotive wheel company Wheel Pros LLC's prepackaged Chapter 11 plan to swap $1.4 billion in senior secured debt for controlling equity in the company.

  • October 15, 2024

    FTC Wants More Info On $1.36B Home Healthcare Deal

    The Federal Trade Commission has requested more information about healthcare solutions company Owens & Minor Inc.'s planned $1.36 billion purchase of home-based care business Rotech Healthcare Holdings Inc., extending the agency's merger review.

  • October 15, 2024

    True Value Hardware Hits Ch. 11 With $153M Asset Sale Plan

    The 75-year-old hardware retailer True Value Co. LLC filed for Chapter 11 protection in Delaware bankruptcy court, with its plan to sell all assets to industry rival Do It Best Corp.

  • October 15, 2024

    Banknotes Maker Agrees To Sell Unit For £300M

    Banknotes maker De La Rue said Tuesday that it has agreed to sell its authentication division and related entities to a U.S. company for £300 million ($390 million) in a deal steered by Bird & Bird, Slaughter and May and Freshfields.

Expert Analysis

  • How Attys Can Avoid Pitfalls When Withdrawing From A Case

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    The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.

  • Using A Children's Book Approach In Firm Marketing Content

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    From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.

  • FTC Noncompete Rule Risks A Wave Of State AG Actions

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    The Federal Trade Commission's final rule language banning noncompetes may contribute to a waterfall enforcement effect in which state attorneys general deploy their broad authority to treat noncompetes as separate and independent violations, say Ryan Strasser and Carson Cox at Troutman Pepper.

  • What Transactional Attys Must Know About Texas Biz Courts

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    As Texas prepares to launch its new business courts, transactional attorneys — especially those involved in commercial, securities and internal governance matters — should keep several issues in mind when considering use of the state's business court system to facilitate deals and settle disputes, say attorneys at Katten.

  • A Comparison Of FDIC, OCC Proposed Merger Approaches

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    Max Bonici and Connor Webb at Venable take a closer look at the Federal Deposit Insurance Corp.'s and Office of the Comptroller of the Currency's respective bank merger proposals and highlight certain common themes and important differences, in light of regulators continually rethinking their approaches to bank mergers.

  • Series

    Being An EMT Makes Me A Better Lawyer

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    While some of my experiences as an emergency medical technician have been unusually painful and searing, the skills I’ve learned — such as triage, empathy and preparedness — are just as useful in my work as a restructuring lawyer, says Marshall Huebner at Davis Polk.

  • The Opportunities, Risks And Rewards Of AI Acquisitions

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    As artificial intelligence acquisitions become an increasing area of focus for investors and technology buyers, entities should pay special attention to target identification, due diligence and more when structuring and executing a transaction with a company that has an AI-centric business model, say attorneys at Foley & Lardner.

  • Tiny Tweaks To Bank Merger Forms May Have Big Impact

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    The impact of proposed changes to the Federal Reserve Board's and Federal Deposit Insurance Corp.'s bank merger review forms would be significant, resulting in hundreds of additional burden hours for bank merger applicants and signaling a further shift by the prudential bank regulators toward more rigorous scrutiny of mergers, say attorneys at Debevoise.

  • 4 Takeaways From Biden's Crypto Mining Divestment Order

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    A May 13 executive order prohibiting the acquisition of real estate by a foreign investor on national security grounds — an enforcement first — shows the importance of understanding how the Committee on Foreign Investment in the United States might profile cross-border transactions, even those that are non-notified, say attorneys at Kirkland.

  • Exploring An Alternative Model Of Litigation Finance

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    A new model of litigation finance, most aptly described as insurance-backed litigation funding, differs from traditional funding in two key ways, and the process of securing it involves three primary steps, say Bob Koneck, Christopher Le Neve Foster and Richard Butters at Atlantic Global Risk LLC.

  • Del. Dispatch: Chancery's Evolving Approach To Caremark

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    Though Caremark claims are historically the least likely corporate claims to lead to liability, such cases have been met in recent years with increased judicial receptivity — but the Delaware Court of Chancery still expressly discourages the reflexive filing of Caremark claims following corporate mishaps, say attorneys at Fried Frank.

  • Series

    Teaching Yoga Makes Me A Better Lawyer

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    Being a yoga instructor has helped me develop my confidence and authenticity, as well as stress management and people skills — all of which have crossed over into my career as an attorney, says Laura Gongaware at Clyde & Co.

  • A Vision For Economic Clerkships In The Legal System

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    As courts handle increasingly complex damages analyses involving vast amounts of data, an economic clerkship program — integrating early-career economists into the judicial system — could improve legal outcomes and provide essential training to clerks, say Mona Birjandi at Data for Decisions and Matt Farber at Secretariat.

  • Standardizing Early Case Appraisal In Securities Class Actions

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    While an initial economic assessment of securities class action litigation is far too often not undertaken, it's an important step in planning the defense strategy that can provide counsel, clients and insurers with a much clearer view of the case, and can be simplified through standardized analyses, says Assen Koev at SCA iPortal.

  • Del. Ruling Highlights M&A Deal Adviser Conflict Disclosures

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    The Delaware Supreme Court recently reversed the Court of Chancery's dismissal of challenges to Nordic Capital's acquisition of Inovalon, demonstrating the importance of full disclosure of financial adviser conflicts when a going-private merger seeks business judgment rule review, say attorneys at Debevoise.

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