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Mergers & Acquisitions
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November 21, 2024
White & Case Guides Mediaocean On $525M Innovid Buy
Private equity-backed advertising company Mediaocean said Thursday it has agreed to buy software platform Innovid for roughly $525 million, with White & Case LLP and Latham & Watkins LLP steering the deal as legal counsel.
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November 21, 2024
Mayer Brown Practice Co-Head To Lead Linklaters Team
Following a series of high-level corporate and finance hires this year, Linklaters announced Thursday that it is hiring the former co-leader of Mayer Brown LLP's infrastructure mergers and acquisitions practice as its head of U.S. infrastructure and private capital M&A.
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November 21, 2024
Trump Eyes Crypto, SpaceX To Sell Shares, And More Rumors
Donald Trump's social media company wants to enter the cryptocurrency business, while Elon Musk's SpaceX is planning a tender offer of shares that values the space technology startup at $250 billion. Here, Law360 breaks down these and other notable deal rumors from the past week.
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November 21, 2024
Consortium Set To Complete €2.2B Cybersecurity Biz Buy
Exclusive Networks said Thursday that its biggest shareholder Permira and U.S. private equity firm Clayton Dubilier & Rice have won all the regulatory clearances for their approximately €2.2 billion buy of the French cybersecurity firm.
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November 21, 2024
Chewy Investors Sue BC Partners In Del. Over PetSmart Deal
British international investment giant BC Partners exploited its control of online pet product retailer Chewy Inc. when a BCP affiliate merged into Chewy after divesting its interest in PetSmart Inc., saddling Chewy with a potential $1.9 billion post-deal tax liability, according to a new Delaware Court of Chancery complaint.
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November 21, 2024
HSF-Led Military Tech Co. To Buy Oz Telecoms Biz For $94M
U.K. defense technology group Cohort said Thursday that it has agreed to buy satellite products business EM Solutions for 144 million Australian dollars ($94 million) as it seeks to expand into the growing naval satellite communications market.
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November 21, 2024
Tritax Investors Greenlight Brookfield's £557M Takeover
Shareholders at Tritax EuroBox shareholders have approved a £557 million bid by Canadian investment management giant Brookfield to acquire the U.K. logistics real estate investor.
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November 20, 2024
Conn. Trial Firm's Dissolution Is In Disarray, CEO Tells Judge
The windup of Connecticut Trial Firm LLC is "in complete controversy" and must be submitted to arbitration, CEO Ryan C. McKeen has told a state Superior Court judge, saying his onetime 50-50 partner, Andrew P. Garza, committed "self-dealing, waste and abuse" to benefit his new firm, Claggett Sykes & Garza LLC.
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November 20, 2024
AI-Driven Software Co. LogicMonitor Gets $800M PE Infusion
Software-as-a-service-based hybrid observability platform LogicMonitor on Wednesday announced that it secured an $800 million investment from a consortium of private equity investors, valuing the company at $2.4 billion.
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November 20, 2024
Cleary Hires Milbank Atty For Capital Markets Team
Cleary Gottlieb Steen & Hamilton LLP announced the addition of a former Milbank LLP transactional attorney to its New York office on Wednesday, saying she will be an asset for its capital markets clients.
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November 20, 2024
Sidley-Guided Lifeway Rejects Second Danone Buyout
Lifeway Foods Inc. said Wednesday that its board has rejected a Nov. 15 revised offer from Danone North America PBC to buy the remainder of Lifeway for $27 per share, or roughly $306 million.
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November 20, 2024
Davis Polk-Led Comcast To Spin Off NBCUniversal TV Assets
Comcast Corp. said Wednesday it plans to spin off a suite of NBCUniversal cable television networks, including the USA Network, CNBC and MSNBC, along with additional digital assets, which generate a combined total $7 billion in annual revenues.
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November 20, 2024
UK Drops Probe Into Google's Investment In AI Startup
The partnership between Google's parent Alphabet Inc. and the U.S. artificial intelligence startup Anthropic PBC does not qualify for investigation under the merger rules, Britain's antitrust authority said Wednesday at the end of the first phase of its investigation.
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November 20, 2024
Investors Get More Time For £253M UK Payments Tech Biz Bid
The mergers and acquisitions watchdog has given a group of investment companies more time to make a firm £253 million ($320 million) offer for Equals Group, the payments technology business said Wednesday.
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November 19, 2024
Finnish Sports Co. Fights NHL Agent's Bid To Ax $1.2M Suit
A Finnish sports talent corporation has slammed an NHL agent's bid in Massachusetts federal court to toss its lawsuit over $1.2 million in arbitration awards, saying he has systemically used shell companies to dodge collection of the judgments against him.
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November 19, 2024
Alaska Airlines Fights Emergency 9th Circ. Bid To Halt Merger
Alaska Airlines has urged the Ninth Circuit not to grant an emergency motion blocking its $1.9 billion acquisition of Hawaiian Airlines, saying the request was filed by flyers and travel agents "without an emergency" after they waited for four months to try to enjoin the airlines from merging.
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November 19, 2024
Cravath-Led Robinhood To Acquire TradePMR In $300M Deal
Stock trading app Robinhood Markets Inc., advised by Cravath Swaine & Moore LLP, on Tuesday announced plans to buy registered investment adviser-focused custodial and portfolio management platform TradePMR, led by Stradley Ronon Stevens & Young LLP, in a cash-and-stock deal valued at $300 million.
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November 19, 2024
DOJ Effort To Force Google Chrome Sale Draws Criticism
Google's regulatory chief and at least one trade group are blasting a reported push from the U.S. Department of Justice to seek expansive remedies and potentially force a sale of Google Chrome in an ongoing court battle with the tech giant.
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November 19, 2024
Conn. Firm CEO's Wife Dropped From Ex-Partner's Suit
Connecticut lawyer Andrew P. Garza on Tuesday dropped attorney Allison M. McKeen, the wife of his former 50-50 law firm partner Ryan C. McKeen, from a lawsuit surrounding the breakup of Connecticut Trial Firm LLC, a high-dollar firm where all three once worked together.
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November 19, 2024
Cigna In-House Atty Joins Akerman In Chicago
Akerman LLP announced Tuesday that an experienced technology and transactions attorney who most recently was in-house counsel with health insurer Cigna had joined the firm's Chicago office as a corporate partner.
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November 19, 2024
PE Firm Sells Defense Tech Co. BlueHalo In $4.1B Deal
AeroVironment, a drone manufacturer advised by Latham & Watkins LLP, announced Tuesday it plans to buy BlueHalo, a private equity-owned defense firm represented by Goodwin Procter LLP, in an all-stock transaction valued at $4.1 billion that the companies said will make a more diversified leader in various areas of defense technology.
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November 19, 2024
Crowell & Moring's NY Antitrust Head Joins King & Spalding
King & Spalding LLP has hired the former leader of Crowell & Moring LLP's New York antitrust practice, saying Tuesday that he will strengthen the firm's business litigation bench.
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November 19, 2024
Simpson Thacher-Led Blackstone Makes $8B Jersey Mike's Deal
Private equity giant Blackstone said Tuesday it has agreed to buy a majority stake in Jersey Mike's Subs in a deal that values the fast-casual submarine sandwich outlet at about $8 billion, including debt, according to a person familiar with the matter.
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November 19, 2024
Longtime White & Case Structured Finance Atty Joins Latham
Latham & Watkins LLP announced that a longtime White & Case LLP structured finance attorney joined the firm's New York office as a partner, which the firm said helps address increased demand from clients in the private equity and credit spaces.
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November 19, 2024
Alex Jones Seeks To Stop The Onion From Buying Infowars
Right-wing media fabulist Alex Jones asked a Texas bankruptcy judge to stop the sale of his Infowars website to satirical news publisher The Onion, arguing that the winning bid violated the court's bidding procedures order.
Expert Analysis
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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.
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How Attorneys Can Break Free From Career Enmeshment
Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.
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Lawyers With Disabilities Are Seeking Equity, Not Pity
Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.
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Fostering Healthcare Industry Success With Joint Ventures
As the healthcare industry continues to evolve, joint ventures remain a key strategy to unite health systems, private equity firms and physician practices in leveraging their collective strengths to foster innovation and improve patient care, say Carole Becker and Travis Jackson at McDermott.
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Opinion
Judicial Committee Best Venue For Litigation Funding Rules
The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.
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The Strategic Advantages Of Appointing A Law Firm CEO
The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.
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Inside FTC's Decision To Exit Key Merger Review Labor Memo
Despite the Federal Trade Commission's recent withdrawal from a multiagency memorandum of understanding to step up enforcement of labor issues in merger investigations, the antitrust agencies aren't likely to give up their labor market focus, say attorneys at Stinson.