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Mergers & Acquisitions
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January 30, 2025
2nd Circ. Sees No Skadden Conflict In Pharma Merger Work
The Second Circuit on Thursday declined to revive an investor suit alleging a merger between Sumitomo Pharma America Inc. and Myovant Sciences Ltd. was undervalued because the lawyers from Skadden Arps Slate Meagher & Flom LLP who helped negotiate the deal had undisclosed conflicts of interest.
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January 30, 2025
Loeb & Loeb Leads $150M Greek Shipping Execs' SPAC IPO
Blank-check company Stellar V Capital Corp., which was formed by Greek shipping executives, launched its projected $150 million initial public offering Thursday, with Loeb & Loeb LLP representing Stellar and Ellenoff Grossman & Schole LLP advising the underwriters.
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January 30, 2025
DOJ Calls UnitedHealth Dismissal Bid A Discovery 'End Run'
The U.S. Department of Justice assailed UnitedHealth Group on Wednesday for "masquerading" a "premature" discovery bid as a motion to dismiss the government's Maryland federal court lawsuit challenging the $3.3 billion purchase of home health and hospice giant Amedisys Inc.
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January 30, 2025
Amex GBT Calls Judge's Sept. DOJ Trial 'Manifest Injustice'
American Express Global Business Travel Inc. asked a New York federal judge Wednesday to reconsider waiting until September to hear the U.S. Department of Justice challenge to its planned $570 million purchase of CWT Holdings LLC, arguing it needs an answer much sooner.
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January 30, 2025
MoFo Guides Welltower's $900M Senior Living REIT Deal
Healthcare real estate investment trust Welltower Inc. plans to acquire NorthStar Healthcare Income Inc., a senior living facility REIT, in a $900 million deal led by Morrison Foerster LLP.
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January 30, 2025
Chancery Reverses Magistrate Toss Of Paramount Doc Suit
A Paramount Global pension fund stockholder has won a Delaware Court of Chancery reversal of a magistrate's dismissal of a suit for company books and records on events surrounding a proposed multibillion-dollar merger between Paramount and Skydance Media, in a decision heavily focused on unnamed sources.
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January 30, 2025
M&A Shot To $3.7T In 2024 As IT/Tech, Finance Shined
Mergers and acquisitions deal values and volumes rebounded significantly in 2024 after a slow 2023, with the IT/tech and financial services sectors leading the way, according to a Thursday report from data firm PitchBook.
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January 30, 2025
Rumors Fly As Trump Seeks Deal To Keep TikTok Alive
President Donald Trump seems to be getting exactly the "bidding war" he wanted as multiple entities fight for a role in keeping TikTok available in the U.S. Here, Law360 provides a rundown of the latest rumors and developments in the TikTok saga, along with other notable rumors from the past week.
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January 30, 2025
DOJ Challenges HPE's $14B Deal For Juniper Networks
The U.S. Department of Justice sued Thursday to block Hewlett Packard Enterprise's planned $14 billion purchase of Juniper Networks Inc. over concerns about competition for local wireless networking technology.
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January 30, 2025
Sidley, Mintz Guide Gene Biz Acquisition Worth Up To $7M
Cell therapy specialist MaxCyte said Thursday that it has bought gene editing company SeQure Dx in a deal worth up to $7 million as it seeks to strengthen its ability to help developers in the field from R&D to commercialization.
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January 30, 2025
Molson Coors Buys Stake In UK Mixer Biz Fevertree For £71M
Molson Coors said Thursday that it has bought an 8.5% stake in Fevertree, a British maker of tonic and mixers, for £71 million ($88 million), as the Canadian-American brewing giant seeks to diversify its portfolio and grow the brand in the U.S.
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January 30, 2025
Nelson Mullins-Led Serco Unit To Buy Defense Biz For $327M
Serco Group PLC said Thursday that a subsidiary has agreed to buy a defense software business from U.S. aerospace giant Northrop Grumman Corp. for $327 million, allowing it to tap into the "huge" sector as geopolitical tensions threaten to boil over.
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January 29, 2025
Roomba Maker Escapes Suit Over Scuttled Amazon Merger
A Massachusetts federal judge has permanently thrown out a shareholder class action accusing iRobot Corp. of misleading investors about expected regulatory opposition that ultimately led to the abandonment of a proposed $1.7 billion merger with Amazon, saying "the pleading process ought not be used as a trial balloon, with repeated bites at the apple."
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January 29, 2025
GOP Sen. Wants 'New' FCC To Review Soros-Audacy Deal
Now that the Federal Communications Commission is under Republican leadership, one Republican senator wants the new chair to review the agency's decision to approve Soros Fund Management's acquisition of an ownership interest in radio station owner Audacy.
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January 29, 2025
SPAC Investors Sue In Del. Over Conflicted Concert Co. Deal
Investors of a special purpose acquisition company have sued the venture's principals in Delaware Chancery Court, accusing them of steering the already cash-poor company into a conflicted deal to take public a concert promoter affiliated with a SPAC creditor that had scant luck beyond events involving a 1970s "one-hit wonder."
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January 29, 2025
Spirit Spurns Frontier Offer In Favor Of Ch. 11 Debt Swap
Bankrupt air carrier Spirit Airlines Inc. said in public securities filings Wednesday that it has rejected an offer from competitor Frontier Airlines to merge and will instead continue pursuit of its prearranged restructuring plan set for confirmation in mid-February because the terms of the Frontier proposal would leave creditors worse off.
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January 29, 2025
2 Blank Check Cos. Plan IPOs Totaling $325M
Two special purpose acquisition companies, Cartesian Growth III and Gesher Acquisition Corp. II, have launched plans for initial public offerings, expecting to raise a combined $325 million.
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January 29, 2025
Milbank Lands Kirkland Private Equity Ace In LA
Milbank LLP continues expanding its corporate team, announcing Wednesday it is bringing in a Kirkland & Ellis LLP private equity expert as a partner in its Los Angeles office.
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January 29, 2025
Milbank Adds Ex-Skadden Financial Restructuring Pro In NY
Milbank LLP has added a corporate restructuring attorney previously with Skadden Arps Slate Meagher & Flom LLP as a partner in its New York office, the firm has announced.
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January 29, 2025
KKR Plugs $250M Into Healthcare Biz Henry Schein
Healthcare solutions provider Henry Schein Inc., advised by Cleary Gottlieb Steen & Hamilton LLP, on Wednesday announced that it received a $250 million investment from Kirkland & Ellis LLP-led private equity giant KKR, resulting in the private equity shop becoming the company's largest non-index fund shareholder.
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January 29, 2025
$7.8B ChampionX Deal Gets Added Scrutiny Across The Pond
SLB's path to closing its proposed $7.8 billion acquisition of ChampionX got a little trickier Wednesday as the U.K. Competition and Markets Authority launched a formal investigation into a deal that is also under the scrutiny of U.S. regulators.
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January 29, 2025
Anglo American Completes $1B Sale Of Jellinbah
British multinational mining giant Anglo American PLC said Wednesday that it has completed the AU$1.6 billion ($1.1 billion) sale of its minority interest in an Australian coal mining joint venture to Zashvin Pty Ltd.
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January 29, 2025
A&O Shearman Guides American Axle's £1.16B UK Biz Offer
British automotive group Dowlais has agreed to a £1.16 billion ($1.44 billion) cash and shares takeover by U.S. operator American Axle & Manufacturing, the companies said Wednesday, as they seek to create a global car parts manufacturer.
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January 28, 2025
Capri Investors Sue Over Scrapped $8.5B Tapestry Merger
Fashion brand giants Capri Holdings Ltd. and Tapestry Inc. misled investors about potential antitrust regulatory issues associated with their planned $8.5 billion merger that ultimately led to the deal's failure and investor losses, according to a proposed securities class action filed Tuesday in Delaware federal court.
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January 28, 2025
Drugs Made In America SPAC Nets $200M To Buy Pharma Biz
Blank-check company Drugs Made In America Acquisition Corp. began trading Tuesday after completing a downsized $200 million initial public offering with the intention of acquiring a U.S.-based pharmaceutical business, represented by Loeb & Loeb LLP and underwriter's counsel Winston & Strawn LLP.
Expert Analysis
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How To Prepare For Expanded HSR Notification Process
Following the recent publication of the Federal Trade Commission's final rule enhancing premerger reporting requirements under the Hart-Scott-Rodino Act, filing parties can take key steps to comply by the new Feb. 10 effective date, say attorneys at Squire Patton.
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Cos. Should Inventory Issues To Prep For New Congress
As the legislative and oversight agendas of the 119th Congress come into sharper focus, corporate counsel should assess and plan for areas of potential oversight risk — from tax policy changes to supply chain integrity — even as much uncertainty remains, say attorneys at WilmerHale.
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So You Want To Move Your Law Practice To Canada, Eh?
Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.
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Opinion
Efficiency Dept. Should Consolidate Antitrust Enforcement
President-elect Donald Trump's planned Department of Government Efficiency should transfer the authority of the Federal Trade Commission's Bureau of Competition into the U.S. Department of Justice's Antitrust Division, because there is no justification for two federal entities to enforce antitrust and competition laws, says retired judge Susan Braden.
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Trump's 2nd Term May Be A Boost To Banking Industry
President-elect Donald Trump's personnel appointments could be instrumental in reshaping the financial regulatory landscape during his second administration, likely allowing for greater merger activity and halting or undoing some of the Biden administration's more restrictive financial services policies, say attorneys at Debevoise.
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Predicting Shareholder Activism Trends In New Trump Admin
While President-elect Donald Trump has promised tax policies, deregulation and lax antitrust enforcement — which all fuel shareholder activism — a closer look at his first administration's track record suggests that his second presidency might be a mixed bag for activist investors and companies alike, say attorneys at Sidley.
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Destination Skiing And The DOJ's Mountain Merger Challenge
Attorneys at Robins Kaplan consider what the U.S. Department of Justice's second request for information portends for Alterra's acquisition of Colorado's Arapahoe Basin ski area, exploring the potential consequences for market definition, industry consolidation and the transformation of the lift ticket market.
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Promoting Diversity In The Selection Of ADR Neutrals
Excerpt from Practical Guidance
Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.
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Series
Playing Ultimate Makes Us Better Lawyers
In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron.
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Dissecting New Circuit Split Over SEC's Proxy Adviser Rule
The Sixth Circuit recently upheld the U.S. Securities and Exchange Commission's partial rescission of enhanced conflict-of-interest disclosure requirements for proxy voting advice businesses, creating a circuit split over broader questions concerning the standard for assessing the legality of agency actions in general, say attorneys at Cahill Gordon.
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E-Discovery Quarterly: Recent Rulings On Metadata
Several recent rulings reflect the competing considerations that arise when parties dispute the form of production for electronically stored information, underscoring that counsel must carefully consider how to produce and request reasonably usable data, say attorneys at Sidley.
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Striking A Balance Between AI Use And Attorney Well-Being
As the legal industry increasingly adopts generative artificial intelligence tools to boost efficiency, leaders must note the hidden costs of increased productivity, and work to protect attorneys’ well-being while unlocking AI’s full potential, says Ed Sohn at Factor.
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Empathy In Mediation Offers A Soft Landing For Disputes
Experiencing a crash-landing on a recent flight underscored to me how much difference empathy makes in times of crisis or stress, including during mediation, says Eydith Kaufman at Alternative Resolution Centers.
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Series
Being An Artist Makes Me A Better Lawyer
My work as an artist has highlighted how using creativity and precision together — qualities that are equally essential in both art and law — not only improves outcomes, but also leads to more innovative and thoughtful work, says Sarah La Pearl at Segal McCambridge.
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How Judiciary Can Minimize AI Risks In Secondary Sources
Because courts’ standing orders on generative artificial intelligence and other safeguards do not address the risk of hallucinations in secondary source materials, the judiciary should consider enlisting legal publishers and database hosts to protect against AI-generated inaccuracies, say attorneys at Lankler Siffert & Wohl.