Mergers & Acquisitions

  • August 14, 2024

    Top Stories From Real Estate's Latest Quarterly Updates

    Catch up on the headlines made by the largest public real estate companies during their latest quarterly earnings calls with investors, from data centers and lease deals to market forecasts and casinos. 

  • August 14, 2024

    4 States Oppose FTC Bid To Block Kroger-Albertsons Deal

    Four Republican-led states defended Kroger's proposed $25 billion acquisition of Albertsons in an amicus brief Wednesday, telling the Oregon federal judge overseeing the Federal Trade Commission's challenge to the deal that blocking it would actually "weaken, not protect, competition."

  • August 14, 2024

    Class Split Disrupts Hearing On $8.7M Sears Suit Settlement

    A Sears Hometown and Outlet Stores stockholder that saw its share appraisal case tanked by the company's bankruptcy in late 2022 won Court of Chancery clearance Wednesday to intervene with a novel, alternative claim for recovery through a separate, ongoing SHOS class damages suit.

  • August 14, 2024

    Tyson Says Mo. Plant Sale Did Not Violate Antitrust Law

    Tyson Foods Inc. has asked a Missouri federal court to find that its sale of a shuttered chicken processing plant to egg producer Cal-Maine Foods Inc. did not violate antitrust law after Tyson said a former contract farmer threatened to sue.

  • August 14, 2024

    BP Unit Can't Escape Truck Stop Suit, Developers Claim

    Companies suing a BP subsidiary for terminating their truck stop franchise agreement and leaving them stuck with unrecoverable development costs hit back against its "shotgun approach" to have their suit seeking more than $300 million in damages thrown out, telling an Ohio federal judge that their complaint is grounded in compelling claims.

  • August 14, 2024

    EU OKs Siemens' $3.8B Sale Of Innomotics To PE Firm KPS

    European Union antitrust enforcers signed off Wednesday on German tech conglomerate Siemens AG's plan to sell its Innomotics large motors and drives unit to New York City-based private equity firm KPS Capital Partners, finding that the deal, with an enterprise value of €3.5 billion ($3.9 billion), poses "limited" overlap concerns.

  • August 14, 2024

    M&A Surge May Bring Opportunities For Cybercriminals

    An increase in mergers and acquisitions is creating more openings for cybercriminals to exploit companies and their customers, highlighted by February's Change Healthcare breach and other major hacks, according to a new report from cybersecurity firm Resilience. 

  • August 14, 2024

    Squarespace Shareholder Opposes $6.9B Go-Private Deal

    Squarespace Inc. minority shareholder Glazer Capital LLC on Wednesday announced its intent to vote against the company's planned $6.9 billion buyout by private equity giant Permira, saying it has "serious concerns" about the fairness and integrity of the sale process.

  • August 14, 2024

    Playtech Confirms Talks For £2B Sale Of Italian Biz To Flutter

    Gambling technology company Playtech PLC confirmed Wednesday it is in talks for the potential sale of its Italian online and retail sports betting unit to the owner of Paddy Power for an estimated £2 billion ($2.57 billion).

  • August 14, 2024

    Skadden, Davis Polk Guide $2.1B US Food Service Deal

    Skadden-led Performance Food Group Co. said Wednesday it has agreed to purchase private equity-backed food service distributor Cheney Bros. Inc., represented by Davis Polk, for $2.1 billion in cash.

  • August 14, 2024

    Winston & Strawn Adds McDermott Transaction Pros In Texas

    Winston & Strawn LLP has expanded its offerings in Texas with the addition of two transactional attorneys as partners in its Houston office, the firm said in a Wednesday statement.

  • August 14, 2024

    German Defense Biz To Buy US Army Vehicle Co. For $950M

    Rheinmetall AG said Wednesday it has agreed to buy U.S. military vehicle parts manufacturer Loc Performance Products LLC for $950 million, as the German defense firm moves to expand its product range globally.

  • August 14, 2024

    Candy Giant Mars Paying $36B For Pringles-Maker Kellanova

    Snack food and candy giant Mars Inc. said Wednesday it has agreed to purchase Kellanova, the maker of Cheez-It and Pringles snacks, for $35.9 billion, including assumed debt, in a deal that "enables Mars to further shape the future of snacking" and is the largest merger announced all year. 

  • August 13, 2024

    Anesthesia Co. Says FTC Lacks Authority To Bring 'Rollup' Suit

    U.S. Anesthesia Partners has told the Fifth Circuit the Federal Trade Commission lacks authority to bring its case directly in federal court without also filing an administrative case accusing the group of monopolizing the Texas anesthesiology market.

  • August 13, 2024

    Musk Can't Ax Fraud Suit Over Twitter Buy, Investors Say

    A pension fund has fired back at Elon Musk's bid to dismiss the rest of its amended proposed securities fraud class action in New York federal court that alleges the X Corp. CEO covertly bought more than 5% of Twitter's stocks to save more than $143 million before announcing his intent to buy the social media platform.

  • August 13, 2024

    Kroger Blasts FTC's 'Head-To-Head' Competition Claims

    Kroger and Albertsons have assailed the Federal Trade Commission's challenge to their merger, telling an Oregon federal judge that there's no need to preliminarily block the deal because the agency is pushing a "never before applied" theory that reducing head-to-head competition is illegal, which the grocery stores said is undone by the law and the companies' planned divestiture of 579 stores.

  • August 13, 2024

    Tar Sands Firm Strikes SPAC Merger With Integrated Rail

    Tar Sands Holdings II LLC, advised by Holland & Hart LLP, plans to go public following a merger with Winston & Strawn LLP-led special purpose acquisition company Integrated Rail and Resources Acquisition Corp., according to a Monday statement.

  • August 13, 2024

    3D Printing Co. Investor Wants Merger With Israeli Co. Blocked

    An investor of 3D printing solutions company Desktop Metal Inc. is attempting to stop the company's proposed merger with Israeli manufacturing firm Nano Dimension Ltd., saying Desktop Metal's deficient proxy statement shows only benefits for the company's executives and directors.

  • August 13, 2024

    Flyers Denied Standing To Stop Alaska-Hawaiian Airlines Deal

    A Hawaii federal judge has tossed an antitrust lawsuit seeking to block Alaska Airlines' proposed merger with Hawaiian Airlines, saying a group of airline passengers and travel agents spearheading the lawsuit haven't alleged any concrete harm from the would-be merger.

  • August 13, 2024

    FTC Makes 2nd Request In Review Of Medical Device Co. Deal

    Medical device company Surmodics Inc. disclosed Monday that federal regulators are taking a closer look at its agreement to be acquired by private equity giant GTCR in a $627 million deal.

  • August 13, 2024

    Ex-Tilray Exec Can Collect $4M Arbitration Award

    A Minnesota federal judge has confirmed a more than $4 million arbitration award in favor of a former Tilray Brands Inc. executive who took the company to arbitration over her termination, finding that the pharmaceutical company hasn't established that the award should be vacated.

  • August 13, 2024

    Australia's Orora Rejects $2.2B Lone Star Buyout Bid

    Australia's Orora Ltd. said Tuesday it has rejected a buyout offer from Dallas-based private equity firm Lone Star Funds, stating that the offer of more than $2.2 billion undervalues the packaging company. 

  • August 13, 2024

    Baker McKenzie Guiding Flowserve On $305M Mogas Buy

    Baker McKenzie is advising environmental machinery provider Flowserve Corp. on a new agreement to buy valve-maker Mogas Industries, represented by Foley & Lardner LLP, for up to $305 million, Flowserve said in a Tuesday statement.

  • August 13, 2024

    3 Firms Drive $3.8B Carlyle-Baxter Kidney Care Deal

    Kirkland & Ellis LLP-led private equity firm Carlyle on Tuesday agreed to acquire the kidney care unit of Baxter International Inc., represented by Sullivan & Cromwell LLP and Baker McKenzie, for $3.8 billion, Baxter said in a statement Tuesday.

  • August 12, 2024

    Nasdaq Isn't Immune From Racial Bias Claims, Investor Says

    The Nasdaq Stock Market isn't immune from racial discrimination claims because such claims are "simply too different" from the claims it actually is protected from as a self-regulatory organization, an investor in a minority-led special purpose acquisition company has argued.

Expert Analysis

  • How New Rule Would Change CFIUS Enforcement Powers

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    Before the May 15 comment deadline, companies may want to weigh in on proposed regulatory changes to enforcement and mitigation tools at the disposal of the Committee on Foreign Investment in the United States, including broadened subpoena powers, difficult new mitigation timelines and higher maximum penalties, say attorneys at Venable.

  • PE In The Crosshairs Of Public And Private Antitrust Enforcers

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    A series of decisions from a California federal court in the recently settled Packaged Seafood Products Antitrust Litigation, as well as heightened scrutiny from federal agencies, serve as a reminder that private equity firms may be exposed to liability for alleged anti-competitive conduct by their portfolio companies, say attorneys at Axinn.

  • Series

    Swimming Makes Me A Better Lawyer

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    Years of participation in swimming events, especially in the open water, have proven to be ideal preparation for appellate arguments in court — just as you must put your trust in the ocean when competing in a swim event, you must do the same with the judicial process, says John Kulewicz at Vorys.

  • A Recipe For Growth Equity Investing In A Slow M&A Market

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    Carl Marcellino at Ropes & Gray discusses the factors bolstering appetite for growth equity fundraising in a depressed M&A market, and walks through the deal terms and other ingredients that set growth equity transactions apart from bread-and-butter venture capital investing.

  • PE-Healthcare Mergers Should Prepare For Challenges

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    State and federal regulators are increasingly imposing new requirements on healthcare transactions involving private equity partners, with mergers that would have drawn little scrutiny a few years ago now requiring a multijurisdictional risk analysis during the deal formation process, say attorneys at Stinson.

  • Why RWI Insurers Should Consider Excluding PFAS

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    As regulation of per- and polyfluoroalkyl substances escalates, carriers providing representations and warranties insurance should reconsider providing PFAS coverage on a case-by-case basis, say Dave Bartoletti and Ina Avalon at Taft Stettinius.

  • Don't Use The Same Template For Every Client Alert

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    As the old marketing adage goes, consistency is key, but law firm style guides need consistency that contemplates variety when it comes to client alert formats, allowing attorneys to tailor alerts to best fit the audience and subject matter, says Jessica Kaplan at Legally Penned.

  • Online Portal Helps Fortify Feds' Unfair Health Practices Fight

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    The Federal Trade Commission, U.S. Justice Department and the U.S. Department of Health and Human Services recently launched an online portal where the public can report potentially unfair healthcare practices, effectively maximizing enforcers' abilities to police anti-competitive actions that can drive up healthcare costs and chill innovation, say attorneys at Seyfarth.

  • Series

    Walking With My Dog Makes Me A Better Lawyer

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    Thanks to my dog Birdie, I've learned that carving out an activity different from the practice of law — like daily outdoor walks that allow you to interact with new people — can contribute to professional success by boosting creativity and mental acuity, as well as expanding your social network, says Sarah Petrie at the Massachusetts Attorney General’s Office.

  • Navigating SPAC Market Challenges For Microcap Issuers

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    For microcap issuers, the special-purpose acquisition vehicle market tells a cautionary tale in which few targets attain the advantages they seek, and important considerations for companies with market capitalization of under $300 million include negotiating costs and expenses upfront to avoid becoming saddled with debt, say attorneys at Lucosky Brookman.

  • Think Like A Lawyer: Follow The Iron Rule Of Trial Logic

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    Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.

  • The Art Of Asking: Leveraging Your Contacts For Referrals

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    Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.

  • The Drawbacks Of Banking Regulators' Merger Review Plans

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    Recent proposals for bank merger review criteria by the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. share common pitfalls: increased likelihood of delays, uncertainties, and new hurdles to transactions that could impede the long-term safety and soundness of the banks involved, say attorneys at WilmerHale.

  • Series

    Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • 7th Circ. Mootness Fee Case May Curb Frivolous Merger Suits

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    On April 15, the Seventh Circuit in Jorge Alcarez v. Akorn Inc. mapped out a framework for courts to consider mootness fees paid to individual shareholders after the voluntary dismissal of a challenge to a public company merger, which could encourage objections to mootness fees and reduce the number of frivolous merger challenges filed, say attorneys at Skadden.

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