Mergers & Acquisitions

  • July 16, 2024

    Masimo Accuses Politan Of Deceit In Hostile Takeover

    Masimo Corp. has hit the activist investment firm Politan Capital Management LP and its top brass with a lawsuit in California federal court, accusing the hedge fund of violating securities laws by trying to gain control of Masimo through a proxy contest that duped Masimo shareholders using "lies and deceit."

  • July 16, 2024

    FTC's In-House Kroger Case Delayed Until After Fed Suit

    Kroger and Albertsons are getting a limited respite from the Federal Trade Commission's looming in-house merger challenge after an agency administrative law judge agreed to delay the case, but only until immediately after an Oregon federal court fight plays out.

  • July 16, 2024

    ​​​​​​​Apollo's $1.85B Mining Co. Deal Sparks Del. Suit For Docs

    An investor sued a mining and logistics company in Delaware's Court of Chancery seeking documents regarding the firm's $1.85 billion go-private deal with affiliates of asset management giant Apollo, approved Tuesday by the mineral producer's stockholders, asserting that there are credible concerns over pre-transaction communications between its executives and Apollo about their jobs.

  • July 16, 2024

    Chancery Orders Illumina Docs Released In Grail Merger Fight

    Benefit fund shareholders of biotech giant Illumina Inc. won a Delaware Court of Chancery order on Tuesday for a rare, limited release of legal advice documents on Illumina's merger agreement with cancer-testing firm Grail Inc., a deal that has cost the company billions in fines and lost value.

  • July 16, 2024

    Chancery OKs $42.5M Brookfield-GGP Settlement, $11.4M Fee

    Shareholders of mall operator GGP Inc. who sued in 2018 to stop its $9.25 billion acquisition by Brookfield Property Partners LP got the Chancery Court's nod Tuesday to settle the litigation for $42.5 million, including an $11.4 million fee for the plaintiffs' counsel and incentive awards for three shareholder plaintiffs.

  • July 16, 2024

    Manatt Adds Healthcare Transactions Partner From McDermott

    Manatt Phelps & Phillips LLP has added a new healthcare partner to its Boston office.

  • July 16, 2024

    AI Robotics Investor Sues In Delaware For Duty Breaches

    A shareholder of a special purpose acquisition company that took artificial intelligence robotics company Berkshire Grey Inc. public filed a putative class action in Delaware's Court of Chancery late Monday against the company's officers and directors, seeking damages for breaches of fiduciary duty.

  • July 16, 2024

    UK's Probe Of Microsoft-Inflection AI Deal Moves Ahead

    The U.K.'s antitrust enforcer launched a formal merger inquiry on Tuesday into Microsoft Corp.'s relationship with Inflection AI after asking for public input earlier this year on several artificial intelligence investments made by Microsoft and Amazon.

  • July 16, 2024

    Stradley Ronon Hires 2 Corporate Attorneys In DC

    Stradley Ronon Stevens & Young LLP has hired two corporate partners in Washington, D.C., and one of those new additions will co-lead the firm's private investment funds practice, according to a Monday announcement.

  • July 16, 2024

    Kirkland-Led Blue Owl Buys Atalaya Capital For Up To $800M

    Kirkland & Ellis LLP-advised private-equity shop Blue Owl Capital Inc. on Tuesday unveiled plans to buy alternative credit manager Atalaya Capital Management LP, led by Cravath Swaine & Moore LLP, for up to $800 million, continuing a trend seen earlier in the year of private-equity firms merging with or acquiring other asset managers.

  • July 16, 2024

    Starboard Demands Change At Tinder Owner Match

    New York-based activist investor Starboard Value LP has amassed a 6.6% stake in Match Group Inc. and is pushing the company to go private if it can't make "value-enhancing" gains after its stock plummeted from its 2021 heyday, according to a letter published Tuesday by Starboard.

  • July 16, 2024

    The 2024 Diversity Snapshot: What You Need To Know

    Law firms' ongoing initiatives to address diversity challenges have driven another year of progress, with the representation of minority attorneys continuing to improve across the board, albeit at a slower pace than in previous years. Here's our data dive into minority representation at law firms in 2023.

  • July 16, 2024

    Rising Star: Wachtell's Eric M. Feinstein

    Eric Feinstein of Wachtell Lipton Rosen & Katz has advised various companies on highly complex M&A transactions, including Fidelity National Information Service's $18.5 billion carve-out sale of its Worldpay merchant solutions business to private equity giant GTCR, earning him a spot among the mergers and acquisitions law practitioners under age 40 honored by Law360 as Rising Stars.

  • July 16, 2024

    These Firms Have The Most Diverse Equity Partnerships

    Law360’s law firm survey shows that firms' efforts to diversify their equity partner ranks are lagging. But some have embraced a broader talent pool at the equity partner level. Here are the ones that stood out.

  • July 16, 2024

    Gibson Dunn, Kirkland Steer $737M KBR-LinQuest Deal

    Gibson Dunn is steering Houston-based defense and space contractor KBR on a new deal to buy LinQuest Corp., a provider of defense analytics to the U.S. government represented by Kirkland & Ellis, for $737 million, according to a statement from KBR on Tuesday.

  • July 16, 2024

    Precision Tools Supplier To Buy US Rival For Up To $683M

    Spectris said Tuesday that it has agreed to buy rival U.S.-based Micromeritics in a deal worth up to $683 million as the British precision tools supplier looks to improve its advanced materials analysis division and grow into the clean technology sector.

  • July 15, 2024

    T-Mobile Broke Price-Lock Promise After Merger, Suit Says

    T-Mobile's promise to federal regulators not to raise prices for three years after its megamerger with Sprint has now expired and it's hiking prices, even on plans that it told customers it would never raise the rates on, according to a new proposed class action.

  • July 15, 2024

    JetBlue-Spirit Flyers Seek $20M Atty Fees Following DOJ Win

    The private plaintiffs who challenged the failed JetBlue-Spirit merger asked a Massachusetts federal judge to award their counsel at least $20 million in fees, saying they "substantially contributed" to the U.S. Department of Justice successfully squashing the deal and are the prevailing party in their case.

  • July 15, 2024

    CD&R Tells Del. Court Covetrus Sale 'Fully Informed'

    An attorney for private equity firm Clayton Dubilier & Rice LLC told a Delaware vice chancellor Monday that stockholders of animal health company Covetrus Inc. were fully informed when they approved a $21-per-share takeover by CD&R and TPG Capital in 2022, disputing allegations of knowing standstill agreement violations and disclosure failures.

  • July 15, 2024

    Pump Co. Execs Must Face Trustee's $59.7M Transfer Suit

    A Connecticut federal judge won't toss a Chapter 7 bankruptcy trustee's lawsuit claiming that three former engineering company executives transferred $59.7 million to a holding entity and sent the company into ruin to avoid paying asbestos claims, ruling Monday that the suit plausibly alleges that the executives had conflicts of interest and concealed their conduct.

  • July 15, 2024

    Cybersecurity Investor Sues For Docs On PE Merger Wipeout

    California-based cybersecurity company Exabeam Inc. has been hit with a books and records request by a shareholder seeking to halt the company's private stock-for-stock merger with competitor LogRhythm, which is owned by private equity firm Thoma Bravo.

  • July 15, 2024

    Chancery Finds Truth Social SPAC Should Get Docs

    The sponsor of the special purpose acquisition company that took former President Donald Trump's Truth Social public must turn over most of the documents the SPAC sought as part of the parties' Delaware litigation, a Chancery Court judge ruled Monday, teeing the case up for trial on July 29.

  • July 15, 2024

    Calif. Man Avoids Prison For Lumentum Insider Trading

    A California man who pled guilty to trading on tips from a former executive of laser company Lumentum Holdings Inc. avoided prison Monday in light of his assistance to the government's investigation.

  • July 15, 2024

    Towers Watson Asks 4th Circ. To Find Merger Dispute Covered

    Towers Watson's insurers must pay out $54 million in remaining directors and officers coverage to help fund a $75 million settlement in a shareholder suit over the company's merger with Willis, Towers Watson told the Fourth Circuit, saying a so-called bump-up exclusion does not apply.

  • July 15, 2024

    B. Riley, Others Sued In Del. After Franchise Group Buyout

    Four Franchise Group LLC stockholders sued the company's principals and top investors in Delaware's Court of Chancery Friday, alleging that they and others were shortchanged by an insider-controlled $2.8 billion take-private sale of the business after an allegedly sham marketing effort and undisclosed conflicts.

Expert Analysis

  • Why Oncology Deal Making Continues To Fuel Biotech M&A

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    The biotech sector's potential for advancements in cancer care continues to attract deal-maker interest, and the keys to successful mergers and acquisitions include the ability to integrate innovative therapies, leverage technological advancements and respond to the dynamic needs of patients, say Bryan Luchs and Mike Weir at White & Case.

  • Opinion

    Judicial Independence Is Imperative This Election Year

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    As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.

  • Series

    Riding My Peloton Bike Makes Me A Better Lawyer

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    Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.

  • Tips For Healthcare M&A Amid Heightened Antitrust Scrutiny

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    As the Biden administration maintains its aggressive approach to antitrust merger enforcement, prudent healthcare M&A counsel will consider practical advice when contemplating their next transaction, including carefully selecting a merger partner and preparing for a potentially long waiting period prior to closing, say attorneys at Davis Wright.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

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    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • Antitrust Enforcers' Views On Info Exchanges Are Evolving

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    As antitrust enforcers' views on information exchanges between competing companies have matured in response to technological advances, companies would do well to reconsider whether the exchanges in which they participate meet the most recent compliance benchmarks, say attorneys at Norton Rose.

  • What Recent Study Shows About AI's Promise For Legal Tasks

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    Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.

  • Fintech 'Prenups': Planning For A Card Program Breakup

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    After a year of economic downturns, some banks and their fintech partners are realizing they may have rushed to the altar without a good prenup, but planning ahead can curb both foreseeable and unexpected issues in the event of a termination of a bank-fintech card-issuing agreement, say Andrew Grant at Ketsal and Richard Malish at Community Federal Savings Bank.

  • Decline In Same-Industry M&A Tells A Nuanced Policy Story

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    In light of newly available Hart-Scott-Rodino Act data suggesting that intraindustry mergers are down overall and pharmaceutical and hospital intraindustry transactions tend to face greater antitrust scrutiny than in the past, attorneys at Morgan Lewis explore whether Biden administration enforcement policies may be curbing pro-competitive strategic M&A.

  • Behind The 'CVR Spin' Method Of Unlocking Assets In M&A

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    The spinoff of contingent value rights, or the CVR spin, can unlock secondary and noncore assets in public mergers and acquisitions, while resolving the market dislocation of some traditional divestitures, say attorneys at Gibson Dunn.

  • 2nd Circ.'s Nine West Ruling Clarifies Safe Harbor Confusion

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    The Second Circuit’s recent ruling in Nine West’s Chapter 11 suit clarifies that courts in the circuit will apply a transfer-by-transfer analysis to determine the applicability of Section 546(e) of the Bankruptcy Code, and that to be safe harbored, a financial institution must act as an agent with respect to the specific transfer at issue, says Leonardo Trivigno at Carter Ledyard.

  • 5 Models For Structuring Health Provider-Payor Partnerships

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    With recent data showing that the U.S. continues to spend more and get less for healthcare services compared to other industrialized nations, providers and payors should consider a variety of partnership structures that can help achieve the so-called triple aim of improving the health of individuals and populations while reducing per capita costs, says John Howard at Thompson Coburn.

  • Del. Dispatch: How Moelis Upends Stockholder Agreements

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    The Delaware Court of Chancery's Moelis decision last month upended the standard corporate practice of providing governance rights in stockholder agreements and adds to a recent line of surprising decisions holding that long-standing, common market practices violate Delaware law, say attorneys at Fried Frank.

  • Litigation Inspiration: A Source Of Untapped Fulfillment

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    As increasing numbers of attorneys struggle with stress and mental health issues, business litigators can find protection against burnout by remembering their important role in society — because fulfillment in one’s work isn’t just reserved for public interest lawyers, say Bennett Rawicki and Peter Bigelow at Hilgers Graben.

  • Understanding Insurance Is Key To Limiting Antitrust Liability

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    As regulators signal their intent to continue last year's aggressive campaign of corporate antitrust litigation, businesses must make active management of their liability insurance policies, along with a firm knowledge of the limits of their coverage, central to their strategies for limiting the enormous financial risks of enforcement, say attorneys at Nossaman.

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