Mergers & Acquisitions

  • October 29, 2024

    Pa. Seeks State Takeover Of Embattled Hospital System

    Pennsylvania urged a state court to appoint a receiver for a hospital system after its operator, Prospect Medical Holdings Inc., allegedly violated an asset purchase agreement by spending millions of dollars on its investors instead of healthcare system management.

  • October 29, 2024

    Investors Float $21M Deal To End Life Sciences SPAC Suit

    Shareholders in special purpose acquisition company CM Life Sciences Holdings have reached a tentative $21 million class settlement in Delaware's Court of Chancery after suing over alleged missing or misleading disclosures in the lead-up to the take-public merger of clinical data and genomics company Sema4 Holdings in July 2021.

  • October 29, 2024

    Sham Getty Stock Offer Lands Investor 10-Month Prison Term

    A former Massachusetts corporate executive will serve 10 months in prison for launching a sham takeover bid for Seattle-based Getty Images Holdings to drive up its share price and make hundreds of thousands of dollars in profit, a Boston federal judge said Tuesday.

  • October 29, 2024

    Warren Pushes FTC Chair To Probe Oncology Acquisitions

    Massachusetts Sen. Elizabeth Warren on Tuesday urged the Federal Trade Commission to scrutinize McKesson Corp.'s proposed $2.49 billion acquisition of a controlling stake in Core Ventures, and Cardinal Health's proposed $1.12 billion purchase of a controlling stake in Integrated Oncology, saying the deals would further consolidate the "already highly consolidated" oncology market.

  • October 29, 2024

    Burns & Levinson Atty Duo Latest To Join Blank Rome

    Blank Rome has announced it added a pair of attorneys from Burns & Levinson to its office in Boston, a move that the firm said bolsters its litigation and corporate capabilities and serves as the latest example of lawyers moving between the two firms since Blank Rome opened the office in April with 25 Burns & Levinson corporate and finance attorneys.

  • October 29, 2024

    M&A Rebounded As Equity Issuance, IPOs Faltered In Q3

    The number of global M&A deal announcements increased for the second consecutive quarter in the third quarter, but global equity issuance and IPO activity slowed, according to a Tuesday report from S&P Global Market Intelligence.

  • October 29, 2024

    Crescent Inks Oncology Merger With $200M In Private Funding

    Crescent Biopharma Inc. has agreed to take fellow cancer-focused biotech GlycoMimetics Inc. private in a deal that includes $200 million of investments from well over a dozen firms to help fund the combined company's operations through 2027, GlycoMimetics revealed Tuesday.

  • October 29, 2024

    PE-Owned Implant Maker Plagued By Lawsuits Hits Ch. 11

    Joint implant maker Exactech Inc. on Tuesday filed for Chapter 11 protection in Delaware bankruptcy court with an offer from its lenders to take over the company, as a wave of lawsuits tied to product recalls weighs on the private equity-owned firm.

  • October 28, 2024

    Partner Sues Over Firm Breakup After $100M Conn. Verdict

    Ryan C. McKeen, the former CEO of a trial firm known for high-dollar verdicts, is wrongfully trying to arbitrate a dispute over the terms of the practice's breakup, his former law partner Andrew P. Garza alleged in a state court showdown between the two 50% owners and their families.

  • October 28, 2024

    Handbag Cos. Turn To 2nd Circ. Over Pause On $8.5B Merger

    The owners of Michael Kors and Coach plan to ask the Second Circuit to review a New York federal judge's order granting the Federal Trade Commission's bid to halt an $8.5 billion merger between the companies while the agency conducts an in-house merger challenge, according to a notice filed Monday.

  • October 28, 2024

    Wash. AG Candidates Clash On Consumer Protection, Guns

    The candidates vying to replace Washington Attorney General Bob Ferguson, who carved out a national reputation as an antitrust champion, present starkly different visions on whether to build upon his tenure or reverse course, clashing not just on consumer protection, but also gun safety and access to reproductive care.

  • October 28, 2024

    9th Circ. Nixes Arbitration In Live Nation Ticket Sale Suit

    The Ninth Circuit affirmed Monday that Live Nation and Ticketmaster can't force consumer litigation over allegedly exorbitant ticket prices into arbitration, ruling in a published opinion that the underlying arbitration agreement linking to "borderline unintelligible" arbitral rules is unenforceable.

  • October 28, 2024

    5 Firms Guide Nearly $10B Garda World Security Deal

    London-based private equity firm BC Partners is selling its majority equity interest in Garda World Security Corp. to a group led by the security service provider's CEO, in a transaction steered by at least five law firms that values GardaWorld at CA$13.5 billion ($9.7 billion).

  • October 28, 2024

    7 Months, 11 Dissents: GOP Minority Flexes Muscles At FTC

    The Federal Trade Commission's two relatively new Republican members are starting to show how they'll use their minority position to full advantage. Sometimes they've fully signed on to the Democratic majority, other times they've dissented emphatically. And the GOP members showed something new this month when approving a dramatic overhaul to the agency's merger filing rules: forcing their colleagues to compromise.

  • October 28, 2024

    Hospital Wants NC County's 'Monopoly' Suit Tossed

    Owners of an Asheville, North Carolina, hospital accused of understaffing its emergency room and driving up wait times say the county suing them for unjust enrichment is actually trying to get paid twice for healthcare its emergency responders have already provided.

  • October 28, 2024

    Linklaters Adds 4 A&O Shearman Finance Partners In NY

    Linklaters LLP announced Monday the addition of four partners from the recently merged Allen Overy Shearman Sterling to the firm's finance division, deepening its U.S. capital markets and restructuring offerings in New York.

  • October 28, 2024

    AbbVie Paying $1.4B For Alzheimer's-Focused Biotech

    AbbVie said Monday it will acquire Aliada Therapeutics, a biotechnology company working on therapies to treat central nervous system diseases including Alzheimer's disease, for $1.4 billion in cash. 

  • October 28, 2024

    Gibson Dunn-Led Lone Star Exiting Chemicals Co. For $2.3B

    Lone Star Funds said Monday it has agreed to sell U.S. global specialty chemicals company AOC to Japan's Nippon Paint Holdings Co. for roughly $2.3 billion.

  • October 28, 2024

    Crown Settles Customer Dispute To Close $924M Revance Buy

    Revance Therapeutics has settled a distribution-related dispute with customer Teoxane SA, potentially clearing the path for its planned $924 million acquisition by skincare company Crown Laboratories. 

  • October 25, 2024

    9th Circ. Dubious Of Tesla Investors' Appeal Of $12B Trial Loss

    Ninth Circuit judges appeared skeptical Friday of Tesla investors' argument that an erroneous trial instruction improperly led a jury to reject their $12 billion claim over Elon Musk's 2018 tweets that he had "funding secured" to take the electric car giant private.

  • October 25, 2024

    Glocal, UpHealth May Settle $115M Award Feud

    Indian healthcare services platform Glocal and bankrupt digital health services company UpHealth may be on the verge of resolving their bitter dispute over an ill-fated merger that resulted in a $115 million arbitral award, Glocal has informed an Illinois federal court in a recent request to stay enforcement proceedings. 

  • October 25, 2024

    Spirit Airlines Eyes $80M In Cost Cuts Amid New Deal Rumor

    Spirit Airlines will implement layoffs as part of a plan to cut roughly $80 million in costs and has agreed to sell 23 Airbus aircraft to GA Telesis for about $519 million, disclosing the measures as the company is said to be in renewed talks to potentially sell itself to Frontier Airlines. 

  • October 25, 2024

    UK Antitrust Arm Opens Formal Probe Of $35B Software Deal

    United Kingdom antitrust authorities triggered a formal investigation Friday into Synopsys Inc.'s $35 billion acquisition of Ansys Inc., satisfied that the transaction has enough ties to the country to merit greater scrutiny.

  • October 25, 2024

    Paris Apparel Co. Valued At €505M As Permira Takes Stake

    Private equity giant Permira is taking a significant minority stake in Parisian outdoor-inspired lifestyle brand K-Way from Italian apparel giant BasicNet in an agreement that values K-Way at an enterprise value of €505 million ($545.3 million), the parties announced in a Friday statement.

  • October 25, 2024

    Frontier Urges Approval Of 'Highly Attractive' Verizon Deal

    Frontier Communications on Friday urged shareholders to support its planned $20 billion sale to Verizon, calling the $38.50 per-share price tag "highly attractive" despite mounting opposition from top investors, one of which claimed the company may be worth double that.

Expert Analysis

  • Antitrust In Retail: The Meaning Of 'Accessible Luxury'

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    In order for the Federal Trade Commission to block a deal that would put six "accessible luxury" brands, including Coach and Michael Kors, under one roof, the agency will need to prove that this category is distinct from the true luxury or mass-market categories, says David Kully at Holland & Knight.

  • A Case Study For Calif. Cities In Water Utility Takeovers

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    With growing water scarcity and drier weather looming, some local governments in California have sought to acquire investor-owned water utilities by eminent domain — but the 2016 case of Claremont v. Golden State Water is a reminder that such municipalization attempts must meet certain statutory requirements, say attorneys at Nossaman.

  • 4 Important Events In Bank Regulation: A Midyear Review

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    The first six months of 2024 have been fairly stable for the banking industry, though U.S. Supreme Court decisions and proposals from regulators have significantly affected the regulatory standards applicable to insured depository institutions, says Christina Grigorian at Katten.

  • Series

    Skiing And Surfing Make Me A Better Lawyer

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    The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.

  • Unpacking The Circuit Split Over A Federal Atty Fee Rule

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    Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.

  • 6 Tips For Maximizing After-Tax Returns In Private M&A Deals

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    With potential tax legislation likely to spur a surge in private business sales, sellers can make the most of after-tax proceeds with strategies that include price allocation and qualified investment options, say Isaac Grossman and Daniel Studin at Morrison Cohen.

  • After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1

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    The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.

  • The Current State Of Healthcare Transaction Reviews In Calif.

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    As of April, certain healthcare transactions in California have been subject to additional notification compliance requirements, and complying with these new rules could significantly delay and discourage some deals, says Andrew Demetriou at Husch Blackwell.

  • Big Banks Face Potential Broader Recovery Plan Rules

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    The Office of the Comptroller of the Currency's recent call for potentially subjecting more banks to recovery planning standards would represent a significant expansion of the scope of the recovery guidelines, and banks that would be affected should assess whether they’re prepared, say attorneys at Debevoise.

  • Practical Private Equity Lessons From 2 Delaware Deals

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    A pair of Delaware Chancery Court cases remind private equity sponsors that specificity is crucial through the lens of deal certainty, particularly around closing conditions and agreement sections of acquisition agreements, say Robert Rizzo and Larissa Lucas at Weil Gotshal and William Lafferty at Morris Nichols.

  • Recruitment Trends In Emerging Law Firm Frontiers

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    BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.

  • 4 Tips For Drafting Earnouts To Avoid Disputes

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    Amid slowed merger and acquisition activity, buyers and sellers are increasingly turning to earnout provisions to get deals done, but these must be carefully drafted to avoid interpretative differences that can lead to later disputes, say attorneys at Cooley.

  • Series

    Glassblowing Makes Me A Better Lawyer

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    I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.

  • Opinion

    Paid Noncompetes Offer A Better Solution Than FTC's Ban

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    A better alternative to the Federal Trade Commission's recent and widely contested noncompete ban would be a nationwide bright-line rule requiring employers to pay employees during the noncompete period, says Steven Kayman at Rottenberg Lipman.

  • How Associates Can Build A Professional Image

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    As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.

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