Try our Advanced Search for more refined results
Mergers & Acquisitions
-
October 03, 2024
Chancery Tosses Barry Diller From Match.com Class Suit
Media mogul Barry Diller escaped for a second time a Delaware Court of Chancery stockholder challenge to Match.com's $30 billion reverse spinoff from IAC Interactive, in a post-U.S. Supreme Court remand decision that also kept alive related, previously dismissed claims against five allegedly Diller-loyal "dual fiduciaries."
-
October 03, 2024
Cole Schotz Adds Potter Anderson Corporate Partner In Del.
Cole Schotz PC has added a corporate member with 16 years of Delaware-focused corporate advisory and transactional experience.
-
October 02, 2024
Kroger Partner Denies At Trial It Will Flip Acquired Stores
The grocery wholesaler set to take on hundreds of stores if Kroger's $25 billion merger with Albertsons goes through defended its ability to meet the challenge Wednesday, with its CEO and a potential executive testifying in parallel proceedings in Colorado and Washington state.
-
October 02, 2024
Paul Weiss-Led Altor Nabs Majority Stake In CCM Hockey
Paul Weiss Rifkind Wharton & Garrison LLP-led Altor Equity Partners on Wednesday announced that its Altor Fund VI has nabbed a "significant majority" stake in hockey stick maker CCM Hockey.
-
October 02, 2024
Chinese Food Biz To Go Public Via $523M SPAC Merger
Blank-check company Iron Horse Acquisition Corp., advised by Lucosky Brookman LLP, on Wednesday announced that it has agreed to merge with and take public China Food Investment in a deal valued at $523 million.
-
October 02, 2024
M&A Vet Joins Debevoise In NY From Legal AI Co.
Debevoise & Plimpton LLP has boosted its New York office with a veteran mergers and acquisitions attorney who recently worked as chief product officer at legal-focused artificial intelligence company Harvey.
-
October 02, 2024
Fried Frank's M&A Co-Head Views Rate Cuts, AI With Caution
While it might be tempting to jump with joy about the Federal Reserve's recent rate cut, Philip Richter, co-head of Fried Frank's mergers and acquisitions practice, takes a more measured view. Here, Law360 talks to Richter about the rate cut, the upcoming presidential election, artificial intelligence and more.
-
October 02, 2024
Darktrace Leaves London After $5B Bid By US Co. Completes
British cybersecurity company Darktrace PLC said on Wednesday that its shares are no longer trading on the London Stock Exchange after the scheme of arrangement for its takeover by U.S. private equity firm Thoma Bravo for approximately $5.3 billion was completed.
-
October 02, 2024
Investors Get Another Extension For £253M Payments Co. Bid
Britain's mergers and acquisitions authority has again given a group of investment companies more time to make a firm offer of £253 million ($336 million) for Equals Group, the payments technology company said on Wednesday.
-
October 01, 2024
Kroger Says Labor Costs Led To Price Hikes At Colo. Stores
A Kroger Co. pricing director testified Tuesday that the company raised prices at eight Colorado stores that have little competition in order to cover higher labor and operational costs in those mountain communities, during a trial in the state's bid to block the grocer's proposed $24.6 billion merger with Albertsons.
-
October 01, 2024
Ex-NBA Star's Big Paydays Not Relevant In Hoops Fraud Trial
Dwight Howard's NBA contracts exceeding $240 million over his 18-year playing career are irrelevant to charges that an Atlanta businessman defrauded the ex-basketball superstar out of $7 million, a Manhattan federal judge held Tuesday.
-
October 01, 2024
Davis Polk-Led Brazilian Lubricants Maker Eyes $400M IPO
Moove Lubricants Holdings, a private equity-backed lubricants producer based in Brazil, on Tuesday unveiled terms for an estimated $400 million initial public offering, represented by Davis Polk & Wardwell LLP and underwriters' counsel Paul Hastings LLP.
-
October 01, 2024
Most TA Dispatch Claims Fall In Chancery Celadon Suit
Alabama trucking and transport management company TA Dispatch LLC saw three of its four claims tossed Tuesday from its Delaware Court of Chancery suit seeking millions in damages from directors and officers of a transport and logistics company that went bankrupt shortly after selling TA Dispatch severely hobbled assets.
-
October 01, 2024
Willis Towers Watson Inks $632M Sale Of Tranzact To PE Firms
Insurance company Willis Towers Watson Plc, advised by Weil Gotshal & Manges LLP, on Tuesday announced that it is divesting its direct-to-consumer insurance distribution business Tranzact and selling it to Kirkland & Ellis LLP-advised private equity firm GTCR and Willkie Farr & Gallagher LLP-led technology services investment platform Recognize for $632.4 million.
-
October 01, 2024
Monthly Merger Review Snapshot
European enforcers saw a key merger policy cut down by the bloc's high court, while Kroger and Albertsons defended their planned $24.6 billion grocery store mega-merger from challenges in multiple venues, and the Federal Trade Commission pushed a bid to block a merger between the owners of Coach and Michael Kors.
-
October 01, 2024
Paul Weiss Adds Former Apollo GC As NY Corporate Partner
A former partner and general counsel for the credit arm of Apollo Global Management is now a partner in Paul Weiss Rifkind Wharton & Garrison LLP's corporate department, the firm said Tuesday.
-
October 01, 2024
PepsiCo Buying Siete In $1.2B Deal Steered By 3 Law Firms
PepsiCo said Tuesday it has agreed to buy Mexican-American food purveyor Siete Foods for $1.2 billion, with Gibson Dunn & Crutcher LLP steering the deal on PepsiCo's behalf and Weil Gotshal & Manges LLP and Armbrust & Brown PLLC advising Siete.
-
October 01, 2024
After 72 Years, Browdy & Neimark Moves To FisherBroyles
The Washington, D.C., intellectual property boutique Browdy & Neimark PLLC is closing its doors after 72 years in business, as the firm's four attorneys move their practices to FisherBroyles LLP.
-
October 01, 2024
Latham Reps CPP Investments In $15B Equinix Data Center JV
Latham & Watkins advised Canada Pension Plan Investment Board in a joint venture with digital infrastructure developer Equinix Inc. and Singapore's sovereign wealth fund GIC that could invest $15 billion to build data centers.
-
October 01, 2024
Pfizer Sells £2.4B Of Shares In Advil Owner Haleon
Pharmaceuticals titan Pfizer Inc. said Tuesday that it has reduced its stake in Haleon PLC, a maker of oral health products, by selling its shares to investors and raising approximately £2.43 billion ($3.24 billion) in the process.
-
October 01, 2024
4 Firms Guide Partners Group In €6.7B Sale Of German Biz
Swiss private equity shop Partners Group said Tuesday that it is selling its stake in a German digital energy metering business to Texas-based TPG and Singapore's sovereign wealth fund for approximately €6.7 billion ($7.4 billion).
-
October 01, 2024
Freshfields Guides Abu Dhabi Oil In €14.7B German Bid
Abu Dhabi's state-owned oil company said Tuesday that it will buy a German chemicals producer, Covestro AG, in a €14.7 billion ($16.3 billion) deal as the Gulf state seeks to lower its dependence on oil amid the transition to green energy.
-
September 30, 2024
Colo. Says Kroger Merger Would Divest To 'Retail Liquidator'
Colorado enforcers told a state judge Monday that Kroger Co.'s plan to inoculate against the anticompetitive effects of its $25 billion merger with Albertsons is doomed to fail because the company that would acquire hundreds of stores is a "liquidator" with no intention of running the stores long term.
-
September 30, 2024
Pa. Bankruptcy Court OKs $53M Sale Of Nursing Homes
A federal bankruptcy judge approved the proposed sale of nine western Pennsylvania nursing homes to affiliates of Kadima Healthcare Group for $53 million Monday, as part of Chapter 11 proceedings for more than a dozen facilities operating under the umbrella of Comprehensive Healthcare Management Systems.
-
September 30, 2024
Bristol-Myers Beats Celgene Investors' Drug Delay Suit
A New York federal judge on Monday tossed UMB Bank's claims that Bristol-Myers Squibb improperly delayed U.S. Food and Drug Administration approval of a cancer treatment to avoid paying shareholders $6.4 billion owed from a 2019 acquisition of Celgene Corp., saying the bank lacked standing to sue.
Expert Analysis
-
Why Now Is The Time For Law Firms To Hire Lateral Partners
Partner and associate mobility data from the second quarter of this year suggest that there's never been a better time in recent years for law firms to hire lateral candidates, particularly experienced partners — though this necessitates an understanding of potential red flags, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
-
Google And The Next Frontier Of Divestiture Antitrust Remedy
The possibility of a large-scale divestiture in the Google search case comes on the heels of recent requests of business breakups as remedies for anticompetitive conduct, and companies should prepare for the likelihood that courts may impose divestiture remedies in the event of a liability finding, say Lauren Weinstein and Nathaniel Rubin at MoloLamken.
-
Considering Possible PR Risks Of Certain Legal Tactics
Disney and American Airlines recently abandoned certain litigation tactics in two lawsuits after fierce public backlash, illustrating why corporate counsel should consider the reputational implications of any legal strategy and partner with their communications teams to preempt public relations concerns, says Chris Gidez at G7 Reputation Advisory.
-
3 M&A Elements To Master In A Volatile Economy
The current M&A market requires a strategic approach to earnouts, past-due accounts payable and employee retention in order to mitigate risk and drive successful outcomes, says Robert Harig at Robbins DiMonte.
-
It's No Longer Enough For Firms To Be Trusted Advisers
Amid fierce competition for business, the transactional “trusted adviser” paradigm from which most firms operate is no longer sufficient — they should instead aim to become trusted partners with their most valuable clients, says Stuart Maister at Strategic Narrative.
-
Del. Dispatch: Drafting Lessons For Earnout Provisions
The Delaware Court of Chancery's recent decision in Medal v. Beckett Collectibles provides guidance for avoiding ambiguity in provisions relating to the acceleration of earnout payments under specified circumstances, and provisions mandating good faith negotiations before bringing earnout litigation, say attorneys at Fried Frank.
-
Tax Traps In Acquisitions Of Financially Distressed Targets
Excerpt from Practical Guidance
Parties to the acquisition of an insolvent or bankrupt company face myriad tax considerations, including limitations on using the distressed company's tax benefits, cancellation of indebtedness income, tax lien issues and potential tax reorganizations.
-
New Lessons On Managing Earnout Provision Risks
Earnout provisions can be a useful tool for bridging valuation gaps in M&A, particularly in developmental-stage pharmaceutical transactions, but the Delaware Chancery Court’s recent decision in Shareholder Representative Services v. Alexion sheds new light on the inherent risks and best practices for managing them, say attorneys at Cleary.
-
SBA Proposal Materially Alters Contractor Recertification
The Small Business Administration's new proposed rule on recertification affects eligibility for set-aside contracts, significantly alters the landscape for mergers and acquisitions in the government contracts industry, and could have other unintended downstream consequences, says Sam Finnerty at PilieroMazza.
-
Navigating A Potpourri Of Possible Transparency Act Pitfalls
Despite the Financial Crimes Enforcement Network's continued release of guidance for complying with the Corporate Transparency Act, its interpretation remains in flux, making it important for companies to understand potentially problematic areas of ambiguity in the practical application of the law, say attorneys at Sidley.
-
EU Merger Control Concerns Remain After ECJ Illumina Ruling
The recent European Court of Justice judgment in Illumina-Grail is a welcome check on the commission's power to review low-threshold transactions, but with uncertainty persisting under existing laws and discretion left to national regulators, many pitfalls in European Union merger control remain, says Matthew Hall at McGuireWoods.
-
Increased IPOs In '24 Shows Importance Of Strategic Planning
Initial public offerings, debt issuances and M&A activity so far in 2024 have shown substantial increases over comparable periods in 2023, highlighting why counsel should educate clients on market trends and financing alternatives to proactively prepare them to be ready to take advantage of opportunities, say attorneys at Skadden.
-
How Methods Are Evolving In Textualist Interpretations
Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.
-
Increased Scrutiny Raises Int'l Real Estate Transaction Risks
Recently proposed regulations expanding the Committee on Foreign Investment in the United States' oversight, a White House divestment order and state-level legislative efforts signal increasing scrutiny of real estate transactions that may trigger national security concerns, say Luciano Racco and Aleksis Fernández Caballero at Foley Hoag.
-
FTC Focus: What Access To Patent Settlements Would Mean
Settling parties should adopt a series of practice tips, including specifying rationales to support specific terms, as the Federal Trade Commission seeks to expand its access to settlements before the Patent Trial and Appeal Board, say Shannon McGowan and David Munkittrick at Proskauer.