Mergers & Acquisitions

  • August 01, 2024

    Monthly Merger Review Snapshot

    The Federal Trade Commission brought its latest case contesting a vertical merger, Tempur Sealy's bid for Mattress Firm, while continuing to battle Microsoft's purchase of Activision and Kroger's purchase of Albertsons, even as the agency allowed several oil deals to move forward without challenge.

  • August 01, 2024

    Brookfield Buys Thermal Management Biz In $1.7B Deal

    nVent, a London-based electrical connection and protection solutions provider advised by Foley & Lardner, announced Thursday it has agreed to sell its thermal management segment to funds run by private equity shop Brookfield Asset Management, represented by Simpson Thacher, for $1.7 billion in cash.

  • August 01, 2024

    Duane Morris Seeks $3.25M Fee For Pirate Treasure Win

    Duane Morris LLP attorneys who recently won a Delaware Court of Chancery order unwinding a merger that set up unfair terms for distributions from a sunken pirate ship salvage venture potentially worth $200 million to $1 billion have asked for a $3.25 million fee for their five-year effort.

  • August 01, 2024

    Skadden Names Shareholder Engagement and Activism Head

    Skadden tapped seasoned transactional attorney Elizabeth Gonzalez-Sussman to lead the firm’s shareholder engagement and activism practice as more clients seek help navigating investor demands.

  • August 01, 2024

    Outbrain Buys Video Platform Teads From Altice In $1B Deal

    Advertising platform Outbrain, advised by three law firms, on Thursday revealed plans to acquire global omnichannel video advertising platform Teads from telecommunications company Altice, led by two law firms, in a $1 billion deal meant to create an open internet advertising platform giant.

  • August 01, 2024

    R1 RCM Going Private In $8.9B Deal Steered By 4 Firms

    TowerBrook Capital Partners and Clayton Dubilier & Rice have agreed to take R1 RCM Inc. private in a deal that values the healthcare-focused tech provider at about $8.9 billion, the company said in a Thursday announcement.

  • July 31, 2024

    Live Nation Says In-House Attys Can't Access DOJ Docs

    As it warned would be the case, Live Nation is telling a New York federal judge that it has no in-house counsel that will be able to meet his rules on counsel access to highly confidential material in the U.S. Department of Justice's antitrust suit against the live events company.

  • July 31, 2024

    Del. Justices Reject New Earnout Claim In $300M Deal Appeal

    Delaware's Supreme Court on Wednesday upheld dismissal of a post-sale stockholder representative suit challenging denial of accelerated, post-closing "earnout" payments after the merger of Edwards Lifesciences and Valtech Cardio Ltd., rejecting a stockholder bid to introduce post-appeal developments.

  • July 31, 2024

    Discover Could Pay $200M In Card 'Misclassification' Fines

    Discover Financial Services told investors on Wednesday that it could face $200 million in potential regulatory penalties over its past "misclassification" of certain credit card accounts, an issue that's also led to class action litigation and other scrutiny for the card giant.

  • July 31, 2024

    Fla. Jury Awards $8.3M In Spat Over Sale Of Pro Player Brand

    A Florida jury has awarded Perry Ellis $8.3 million after finding that United Legwear Co. purposely depressed the value of Perry Ellis' Pro Player brand under a licensing agreement to avoid paying fair market value when it purchased the brand later.

  • July 31, 2024

    Chancery OK Sought For $2.5M BigBear.ai SPAC Suit Deal

    GigCapital Global has agreed to pay $2.5 million to settle a Delaware Chancery Court shareholder class action that sought damages for alleged breaches of fiduciary duty and unjust enrichment in connection with the 2021 go-public merger with artificial intelligence company BigBear.ai.

  • July 31, 2024

    Quality Not Baked Into NC Hospital Deal, HCA Tells Biz Court

    A for-profit healthcare network has asked the North Carolina Business Court to find that its contract to buy an Asheville hospital didn't specify the quality of services it must provide, saying the state attorney general has sought to impose demands that don't exist.

  • July 31, 2024

    Steward Health Care Gets OK To Close 2 Mass. Hospitals

    A Texas bankruptcy judge Wednesday approved the closure of two Massachusetts hospitals owned by Steward Health Care after the debtor said that it was unable to find buyers for them.

  • July 31, 2024

    Chancery Keeps Challenge To $1.5B Genius Sports Deal Alive

    Stockholders of a blank check company that took sports data company Genius Sports Ltd. public have overcome a bid to spike their Delaware Court of Chancery challenge to the $1.5 billion deal.

  • July 31, 2024

    $7.25M Del. Settlement Offered In $1.35B UpHealth SPAC Suit

    Parties to a Delaware Court of Chancery stockholder suit that challenged a $1.35 billion take-public "blank-check" company merger with Florida-based digital health manager UpHealth Inc. have reached a $7.25 million settlement of all claims, pending court approval, according to an agreement filed Tuesday.

  • July 31, 2024

    Chancery Goes With Deal Price In Exchange Co. Appraisal

    A venture capital firm that sued for an appraisal of its investment in FairXchange Inc. is entitled to $10.42 per share, the same as the $330 million deal price that Coinbase Global Inc. offered when it bought the securities exchange startup in 2022, a Delaware vice chancellor ruled Tuesday.

  • July 31, 2024

    Doc 'Muddle' Stalls Trump Media SPAC Figure's Ouster Suit

    Pointing to multiple, conflicting operating agreement versions, a Delaware vice chancellor said she was unable to rule Wednesday on a suit to uphold dismissal of the managing member of a blank check company sponsor for the deal that took former President Donald Trump's social media company public.

  • July 31, 2024

    UPDATE: Paramount Global Bid Called Into Question After Announcement Pulled

    The validity of a purported $43 billion takeover offer for Paramount Global from Apex Capital is being called into question, after the press release service that published the announcement removed it.

  • July 31, 2024

    Mercon Coffee's Ch. 11 Liquidation Plan Confirmed

    A New York bankruptcy judge has confirmed the liquidation plan for coffee supplier Mercon Coffee Corp. after ruling earlier this month the company can't reward corporate insiders who stuck with it through its Chapter 11 case with a release from future litigation.

  • July 31, 2024

    BakerHostetler, Dechert Steer $2.3B CBIZ-Marcum Deal

    Cleveland-based accounting firm CBIZ Inc. said Wednesday it has agreed to buy competitor Marcum in a $2.3 billion deal that will create the seventh-largest accounting services provider in the U.S.

  • July 31, 2024

    Aussie Bank ANZ Acquires Suncorp Unit For $3.2B

    Australia and New Zealand Banking Group Ltd. said Wednesday that it has acquired Suncorp Bank for approximately 4.9 billion Australian dollars ($3.2 billion), two years after it signed the deal.

  • July 31, 2024

    Veolia To Sell Sulfuric Acid Regeneration Biz For $620M

    Veolia Environnement SA said Wednesday that a U.S. subsidiary has agreed to sell its acid purification business to American Industrial Partners, a mid-market private equity firm, for $620 million, as the French infrastructure manager refocuses its business.

  • July 30, 2024

    FTC Seeks Temporary Kroger-Albertsons Block In Oregon

    The Federal Trade Commission is formally seeking a temporary block against Kroger's proposed purchase of Albertsons, arguing in an Oregon federal court brief unsealed Tuesday that the planned divestiture of 579 stores to a "failed" supermarket boss won't adequately protect consumers or union labor facing dramatically increased concentration.

  • July 30, 2024

    Atty Teams Wrestle In Chancery Over WWE Merger Suit Pick

    Two legal tag teams have pitched competing bids to lead a Delaware Court of Chancery suit aimed at World Wrestling Entertainment Inc. and its $21.4 million merger with Ultimate Fighting Championship, with one stressing the depth of its complaint and the other, in part, stressing depth of experience in pressing sexual misconduct claims.

  • July 30, 2024

    Ebix Ch. 11 Plan Ruling Held Up By Liability Release Dispute

    A Texas bankruptcy judge declined to rule Tuesday on Ebix Inc.'s request for Chapter 11 plan confirmation, telling the parties he needed more time to sort out a dispute over third-party releases contained in the reorganization deal.

Expert Analysis

  • Series

    Playing Chess Makes Me A Better Lawyer

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    There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.

  • How M&A Attorneys Can Best Serve Self-Funded Searchers

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    Post-pandemic, and with the so-called great wealth transfer on the horizon, individuals looking for small and midsize businesses to acquire are increasingly going the self-funded route, so deal attorneys must understand the major pain points and unique needs of this demographic, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • Litigation Inspiration: Attys Can Be Heroic Like Olympians

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    Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those of the court — instead of merely pursuing every advantage short of sanctionable conduct, says Bennett Rawicki at Hilgers Graben.

  • What TikTok's Race Against The Clock Teaches Chinese Firms

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    The Biden administration's recent divestiture deadline on TikTok parent ByteDance provides useful information for other China-based companies looking to do business in the U.S., including the need to keep products for each market separate and implement firewalls at the design stage, says Richard Lomuscio at Stinson.

  • Lean Into The 'Great Restoration' To Retain Legal Talent

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    As the “great resignation,” in which employees voluntarily left their jobs in droves, has largely dissipated, legal employers should now work toward the idea of a “great restoration,” adopting strategies to effectively hire, onboard and retain top legal talent, says Molly McGrath at Hiring & Empowering Solutions.

  • Live Nation May Shake It Off In A Long Game With The DOJ

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    Don't expect a swift resolution in the U.S. Department of Justice's case against Live Nation, but a long litigation, with the company likely to represent itself as the creator of a competitive ecosystem, and the government faced with explaining how the ticketing giant formed under its watch, say Thomas Kliebhan and Taylor Hixon at GRSM50.

  • Boeing Saga Underscores Need For Ethical Corporate Culture

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    In the wake of recent allegations about Boeing’s safety culture, and amid the U.S. Department of Justice’s new whistleblower incentives, business leaders should reinvigorate their emphasis on compliance by making clear that long-term profitability requires ethical business practices, says Maxwell Carr-Howard at Dentons.

  • Series

    Fishing Makes Me A Better Lawyer

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    Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge​​​​​​​ at Robinson Bradshaw.

  • Parsing Controversial Del. General Corporation Law Proposals

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    In response to issues raised in three recent high-profile Delaware Court of Chancery decisions, many amendments to the Delaware General Corporation Law were quickly proposed that, if enacted, would bring significant changes likely to be hotly debated — and litigated — for the foreseeable future, say attorneys at Morgan Lewis.

  • A Healthier Legal Industry Starts With Emotional Intelligence

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    The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.

  • To Make Your Legal Writing Clear, Emulate A Master Chef

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    To deliver clear and effective written advocacy, lawyers should follow the model of a fine dining chef — seasoning a foundation of pure facts with punchy descriptors, spicing it up with analogies, refining the recipe and trimming the fat — thus catering to a sophisticated audience of decision-makers, says Reuben Guttman at Guttman Buschner.

  • Circuit Judge Writes An Opinion, AI Helps: What Now?

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    Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.

  • A Look At M&A Conditions After FTC's Exxon-Pioneer Nod

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    The Federal Trade Commission's recent consent decree imposing several conditions on Exxon Mobil's acquisition of Pioneer Natural Resources helps illustrate key points about the current merger enforcement environment, including the probability of further investigations in the energy and pharmaceutical sectors, say Ryan Quillian and John Kendrick at Covington.

  • FTC Theories Of Harm After Anesthesia Co. Ruling

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    As Federal Trade Commission litigation against U.S. Anesthesia Partners proceeds following a Texas federal court's recent decision to dismiss a private equity sponsor from the suit, the case attempts to incorporate and advance some of the commission's theories of competitive harm from the final 2023 Merger Guidelines, say attorneys at Mintz.

  • BF Borgers Clients Should Review Compliance, Liability

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    After the U.S. Securities and Exchange Commission's recently announced enforcement proceedings against audit firm BF Borgers for fabricating audit documentation for hundreds of public companies, those companies will need to follow special procedures for disclosure and reporting — and may need to prepare for litigation from the plaintiffs bar, say attorneys at Debevoise.

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