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Mergers & Acquisitions
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March 27, 2025
FTC Democrats Sue To Undo Trump's 'Unlawful' Firing
Recently fired Federal Trade Commission members Rebecca Kelly Slaughter and Alvaro M. Bedoya challenged their terminations Thursday in D.C. federal court, arguing President Donald Trump violated "bedrock, binding precedent" permitting their removal only for cause.
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March 27, 2025
Massumi & Consoli Adds Kirkland Private Equity Pro In LA
Mergers and acquisitions boutique Massumi & Consoli LLP is expanding its team to accommodate increasing client demand, bringing in a Kirkland & Ellis LLP private equity expert.
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March 26, 2025
Feds Led Jury Astray About $175M JPMorgan Deal, Javice Says
A lawyer for Frank founder Charlie Javice on Wednesday told a Manhattan federal jury that prosecutors have spent weeks misleading them about evidence purporting to show that she conned JPMorgan Chase & Co. into buying the now-defunct educational startup for $175 million, based on false information.
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March 26, 2025
Sotomayor Urges Caution On Nondelegation Doctrine Revamp
U.S. Supreme Court Justice Sonia Sotomayor cautioned her colleagues during oral arguments Wednesday against using a challenge to the Federal Communications Commission's administration of a broadband subsidy program as a way to resurrect the long-dormant nondelegation doctrine. Several conservative justices, however, seemed willing to disregard that admonition.
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March 26, 2025
23andMe Says Ch. 11 Privacy Ombudsman Not Required
DNA testing company 23andMe Inc.'s customer data will be protected in Chapter 11, its attorneys told a Missouri bankruptcy judge Wednesday as it argued that the appointment of a consumer privacy ombudsman is not required.
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March 26, 2025
Standard General's $4.6B Bally's Buy Draws Del. Court Suit
Hedge fund Standard General LP and its founder Soohyung Kim pulled the strings on Bally's Corp.'s $4.6 billion sale, grabbed control of the post-transaction entity and ultimately hurt stockholders, investors claim in a proposed class action filed Monday in Delaware Chancery Court.
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March 26, 2025
3 Firms Guide Nuclear Power Startup's $925M SPAC Merger
Nuclear power developer Terrestrial Energy Inc. plans to go public by merging with special purpose acquisition company HCM II Acquisition Corp. at a $925 million equity value under guidance from three law firms, both parties announced Wednesday.
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March 26, 2025
Coalition Says Trump Admin Flouted Federal Rehiring Order
The Trump administration responded to an injunction compelling it to rehire over 15,000 fired probationary employees by placing them on leave, not bringing them back to work, a coalition of advocates for the workers told a California federal judge Wednesday, saying the administration hasn't complied with the injunction.
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March 26, 2025
Del. Justices Back Axing Suit Over $3B AstraZeneca Viela Sale
The Delaware Supreme Court on Wednesday upheld without elaboration the dismissal of a Court of Chancery lawsuit accusing AstraZeneca PLC of lining up a conflicted, underpriced $3 billion sale of clinical stage biopharmaceutical venture Viela Bio Inc.
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March 26, 2025
FERC Pressed To Reject $26.6B Constellation-Calpine Merger
Consumer and environmental groups have urged the Federal Energy Regulatory Commission to block Constellation's $26.6 billion purchase of Calpine, saying a tie-up of two of North America's largest independent power producers would reduce competition in the nation's largest regional electricity market.
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March 26, 2025
Del. Justices Seek Reasons To Revive Raytheon Incentive Suit
Delaware's chief justice pressed a stockholder attorney Wednesday to provide more justification for resurrecting a Chancery Court suit claiming the company didn't seek stockholder approval for allegedly unfair changes to a multimillion-dollar RTX Corp. incentive plan.
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March 26, 2025
UK Crypto Biz Argo To Acquire Rival For $22M
Argo Blockchain PLC said Wednesday it has agreed to acquire Gem Mining, a rival cryptocurrency miner based in the U.S., for up to $21.7 million in shares, as the dual-listed U.K. company moves to double its computing power.
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March 26, 2025
Governor Quickly Signs Delaware Corporate Law Revision Bill
Delaware's governor has promptly signed into law closely watched legislation that has been described as an overhaul of the First State's corporation law.
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March 26, 2025
Bain Nabs Majority Stake In Italian SaaS Biz In $1.2B Deal
Private equity giant Bain Capital on Wednesday announced that it has agreed to take a majority stake in Italian software-as-a-service company Namirial in a $1.2 billion deal built by at least five law firms.
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March 26, 2025
UK Antitrust Arm Probing Food Services Merger
Britain's antitrust watchdog has launched an initial enforcement order into global catering giant Aramark Group's acquisition of Entier, a Scottish rival, over concerns the transaction could result in a "substantial lessening of competition" in the food services sector.
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March 26, 2025
Prysmian To Acquire Channell Commercial For Up To $1.15B
Italian cable manufacturer Prysmian said Wednesday it will spend up to $1.15 billion to acquire Texas-based Channell Commercial Corp., a telecommunications equipment provider, in a transaction advised by Freshfields LLP and DLA Piper.
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March 26, 2025
Dollar Tree Selling Family Dollar For $1B To PE Firms
Dollar Tree said Wednesday it has agreed to sell its Family Dollar business for just over $1 billion to two private equity firms, after the Davis Polk-guided discount retailer revealed strategic review plans to sell the cash-strapped unit in June.
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March 25, 2025
Tariffs, Economic Concerns Bring Record Q1 Deals Lull
U.S. deal transaction numbers plummeted in the first quarter of 2025 to the lowest levels seen since the financial crisis, driven by volatile trade policies and rising geopolitical tensions, but a March bump provided hope for an upswing, according to a Tuesday report from Mergermarket.
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March 25, 2025
7-Eleven Defends Cautious Antitrust Approach To Deal Talks
The parent company of 7-Eleven on Tuesday defended its wary approach to a proposed acquisition by Alimentation Couche-Tard Inc. saying it has legitimate concerns about the deal clearing U.S. antitrust enforcers.
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March 25, 2025
Delaware Legislature Passes Divisive Corporate Law Rework
Delaware lawmakers overwhelmingly approved and sent to the state's governor Tuesday legislation that eases restrictions on some conflicted corporate acts and limits some stockholder document inspection demands, after House members overwhelmingly shot down five amendments aimed at limiting the measure's reach.
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March 25, 2025
Sterlington Adds M&A Expert With 'A-List' Accolades
When Lawrence Waks led the billion-dollar sale of Casamigos Tequila back in 2017, it was a game-changing moment that would reshape his legal career.
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March 25, 2025
3D Printing Tech Co. Wins Chancery Order For Merger Closing
Delaware's chancellor issued a short-fuse post-trial order late Monday giving high-tech electronics board maker Nano Dimensions 48 hours to secure a national security agency agreement needed to acquire Israeli 3D printing defense contractor Desktop Metal.
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March 25, 2025
MoFo Adds Veteran Tech Adviser From Fenwick To NY Team
Morrison Foerster announced Tuesday that it has added a longtime adviser to tech-industry clients from Fenwick & West LLP to its mergers and acquisitions group.
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March 25, 2025
Merck Betting Up To $2B On China-Developed Cardio Drug
Pharmaceutical giant Merck & Co. Inc., advised by Gibson Dunn & Crutcher LLP and Covington & Burling LLP, said on Tuesday it has entered into an exclusive license agreement with Cooley LLP-led pharmaceutical company Jiangsu Hengrui Pharmaceuticals Co. Ltd. under which Merck will pay up to nearly $2 billion to the Chinese pharmaceutical business.
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March 25, 2025
Blackstone To Offer £489M For Warehouse REIT
Private equity giant Blackstone said Tuesday that it has made an approximately £489 million ($633 million) provisional final offer for British logistics property company Warehouse Real Estate Investment Trust.
Expert Analysis
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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.
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Opinion
The Right Kind Of Deregulation In Commercial Airline Industry
Similar to the economic deregulation that occurred more than four decades ago during the Carter administration, the incoming Trump administration should restore the very limited federal regulatory role in the economics of the airline industry, says former U.S. transportation secretary James Burnley at Venable.