Mergers & Acquisitions

  • July 24, 2024

    Paramount Defaulted On Co. Sale Doc Demand, Chancery Told

    Paramount Global has "completely defaulted" on obligations to provide documents sought by a shareholder investigating controller Shari Redstone's alleged self-interested "usurpation" of the media company's sale opportunities, a stockholder attorney told a Delaware Court of Chancery magistrate Wednesday.

  • July 24, 2024

    Judge Sets Up 2-Tier Counsel Access In DOJ Live Nation Suit

    A New York federal judge on Tuesday set up a two-tiered system for document access in the U.S. Department of Justice's antitrust lawsuit against Live Nation and Ticketmaster, limiting sensitive information from other market participants from Live Nation in-house counsel.

  • July 24, 2024

    Rite Aid's Elixir Buyer Must Pay Additional $50M In Ch. 11 Sale

    Prescription benefits group MedImpact owes an extra $50 million on top of $576 million it paid Rite Aid for its former benefits division Elixir, a New Jersey bankruptcy judge ruled Wednesday, saying his earlier ruling on $200 million in disputed liabilities from the sale didn't fundamentally disrupt a post-closing price adjustment.

  • July 24, 2024

    Int'l Firm Garrigues Merges With Full-Service Mexican Firm

    International legal and tax services firm Garrigues will create one of the largest law firms in Mexico by integrating a full-service Mexican firm into the group by the end of 2024, both firms announced.

  • July 24, 2024

    Senate Dems Demand Scrutiny Of T-Mobile, UScellular Deal

    T-Mobile's plan to buy the wireless operations of yet another mobile network operator — this time, United States Cellular Corp. — several years after it was allowed to merge with Sprint to become the third biggest carrier in the country is a bad idea, a handful of Democratic senators have told the U.S. Department of Justice and FCC.

  • July 24, 2024

    EV Co. Scores Initial OK On $13M Deal To End Investor Suits

    A Colorado federal judge has granted preliminary approval to a $13.3 million settlement resolving shareholder lawsuits against commercial electric-vehicle company Lightning eMotors, whose executives and directors had been accused of touting unrealistic growth projections in the lead-up to a 2021 merger.

  • July 24, 2024

    Latham, Stevens & Lee Guide Bitcoin Co.'s $365M SPAC Deal

    Bitcoin rewards provider Fold and a special purpose acquisition company announced Wednesday they agreed to merge through a transaction that will take Fold public at an estimated $365 million valuation, with attorneys from Stevens & Lee and Latham counseling the parties.

  • July 24, 2024

    NBA's Pelicans Seek To Recoup Crypto Co.'s Sponsor Fees

    The NBA's New Orleans Pelicans asked a Louisiana federal court to force cryptocurrency mining company PrimeBlock Operations LLC to either pony up the sponsorship fee it failed to deliver years ago or make good on a subsequent $500,000 settlement offer.

  • July 24, 2024

    CFIUS Reviews Slumped In 2023, Penalties Increased

    The Committee on Foreign Investment in the United States experienced a significant drop in the number of cases it reviewed in 2023, but levied a record number of penalties last year, according to an annual report to Congress.

  • July 24, 2024

    Vista Outdoor Sued In Chancery For Docs On Sale Plans

    A Vista Outdoor Inc. stockholder has sued in Delaware's Court of Chancery for records on the company's breakup and sale plan, which saw directors abandon an initial effort to spin off but retain an interest in its sporting products business and instead propose a sale to Czechoslovak Group AS.

  • July 24, 2024

    T-Mobile Plugs $4.9B Into JV With KKR To Buy Metronet

    T-Mobile announced Wednesday that it has partnered up with private equity giant KKR to acquire pure-play fiber company Metronet in a joint venture that sees T-Mobile investing roughly $4.9 billion at deal close, in a transaction built by eight law firms.

  • July 24, 2024

    Vintage Wine Estates Hits Ch. 11 With Intent To Sell Assets

    Vintage Wine Estates, which owns 30 wine brands in California, Oregon and Washington, filed for Chapter 11 protection Wednesday with a plan to sell its assets after post-pandemic wine demand dropped.

  • July 23, 2024

    Kroger And Colo. Talks To Avoid Merger Hearing Stall Out

    Negotiations between Kroger Co. and Colorado enforcers to avoid an injunction hearing in the state's challenge to a $24 billion merger with Albertsons appeared to have stalled, prompting the grocers Tuesday to pitch a state judge on other options to avoid the fast-approaching proceeding.

  • July 23, 2024

    FTC Won't Delay Challenge To Handbag Merger Either

    The Federal Trade Commission has declined to pause its administrative challenge to the $8.5 billion handbag merger between the owners of Coach and Michael Koors, saying that even a district court refusal to temporarily enjoin the merger might not end the FTC's in-house case.

  • July 23, 2024

    Microsoft Calls FTC Price Hike Claims 'Misleading' At 9th Circ

    Microsoft pushed back against the Federal Trade Commission's contention that an increase in the company's gaming subscription pricing is evidence of the anticompetitive effects of the software giant's $68.7 billion acquisition of game developer Activision Blizzard Inc., calling the commission out for trying to "reinvent" its case against the merger on appeal to the Ninth Circuit.

  • July 23, 2024

    US, UK, EU Antitrust Enforcers Outline AI Principles

    The top antitrust officials from the U.S. Justice Department, the Federal Trade Commission, the European Commission and the U.K.'s Competition and Markets Authority presented a unified international commitment Tuesday to closely monitor artificial intelligence technology and the companies that they warned could wield AI anticompetitively.

  • July 23, 2024

    Chancery Ends Challenge To $12.5B Qualtrics' SAP Sale

    Saying it was not reasonably conceivable that he would find software giant SAP and Qualtrics International Inc. directors liable for damages after Qualtrics' $12.5 billion sale to Silver Lake Capital despite a superficially better offer, a Delaware vice chancellor on Tuesday dismissed a stockholder challenge to the deal.

  • July 23, 2024

    FTC Attys On Kroger Case Get Extensions After IT Outage

    The administrative law judge overseeing the Federal Trade Commission's in-house challenge to Kroger and Albertsons' $25 billion merger has given the agency and the grocery behemoths two extra days on a couple of filing deadlines after the FTC said the worldwide Microsoft outage left several counsel laptops unusable.

  • July 23, 2024

    Judge Won't Force Meta To Run Bankrupt Rubio's Ads

    A Delaware bankruptcy judge on Tuesday denied a temporary restraining order requested by fast-casual seafood chain Rubio's Coastal Grill against Meta Platforms Inc., which alleged Meta violated an automatic stay in the Chapter 11 case by not running Rubio's ads after the company didn't pay fees it had incurred prepetition. 

  • July 23, 2024

    Sidley, Cooley Craft Filter Maker's $1B Sale To IDEX Corp.

    Specialty equipment maker IDEX Corp. will buy industrial filter manufacturer Mott Corp. and its subsidiaries in a $1 billion all-cash deal led by Sidley Austin LLP and Cooley LLP, the companies announced Tuesday.

  • July 23, 2024

    Judge Doubts CenturyLink Can Block Borrowed Allegations

    A Colorado Court of Appeals panel Tuesday pressed an attorney for CenturyLink on why a shareholder can't use allegations borrowed from other cases in his own securities suit against the telecommunications company, with one judge saying that requiring plaintiff's counsel to speak to every witness would be going overboard.

  • July 23, 2024

    Chancery Spikes Raytheon Stockholder's Derivative Suit

    A shareholder who faulted directors at Raytheon Technologies Corp. for allowing a special committee to change employee compensation plans without first seeking stockholder approval has failed to show how the board of directors did anything wrong, a Delaware vice chancellor ruled Tuesday, dismissing the derivative lawsuit.

  • July 23, 2024

    Capital One Card Holders Sue To Block Discover Merger

    Capital One credit card holders launched a proposed class action seeking to block the company's $35 billion purchase of Discover Monday, claiming the acquisition will drive down competition and further consolidate the already-concentrated credit card market.

  • July 23, 2024

    Tech Firm Mobileum Enters Ch. 11 To Trim Over $500M Debt

    Global telecom analytics group Mobileum Inc. sought Chapter 11 protection in Texas on Tuesday, with plans to trim $529 million from its books through a debt-for-equity swap after falsified time records uncovered last year backlogged operations and spurred litigation.

  • July 23, 2024

    4 Firms Guide SPAC Mergers Targeting AI, Cannabis Sectors

    An AI-powered startup that vows to combat "disinformation" and a medical cannabis developer have agreed to go public by merging with special purpose acquisition companies through separate deals unveiled this week, guided by four law firms and a law office.

Expert Analysis

  • 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.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

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    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • What 3rd Circ. Trust Ruling Means For Securitization Market

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    Mercedes Tunstall and Michael Gambro at Cadwalader break down the Third Circuit's March decision in Consumer Financial Protection Bureau v. National Collegiate Master Student Loan Trust, as well as predict next steps in the litigation and the implications of the decision for servicers and the securitization industry as a whole.

  • Ensuring Nonpublic Info Stays Private Amid SEC Crackdown

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    Companies and individuals must take steps to ensure material nonpublic information remains confidential while working outside the office, as the U.S. Securities and Exchange Commission continues to take enforcement actions against those who trade on MNPI and don't comply with new off-channel communications rules in the remote work era, say attorneys at BakerHostetler.

  • Behind Indiana's Broad New Healthcare Transactions Law

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    The high materiality threshold in Indiana's recently passed healthcare transaction law, coupled with the inclusion of private equity in its definition of healthcare entities, makes it one of the broadest state review regulations to date, say attorneys at DLA Piper.

  • Highlights From The 2024 ABA Antitrust Spring Meeting

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    U.S. merger enforcement and cartels figured heavily in this year's American Bar Association spring antitrust meeting, where one key takeaway included news that the Federal Trade Commission's anticipated changes to the Hart-Scott-Rodino form may be less dramatic than many originally feared, say attorneys at Freshfields.

  • What FERC's Disclosure Demands Mean For Cos., Investors

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    Two recent Federal Energy Regulatory Commission orders reflect the commission's increasingly meticulous approach to reviewing corporate structures in applications for approval of proposed consolidations, acquisitions or changes in control — putting the onus on the regulated community to track and comply with ever-more-burdensome disclosure requirements, say attorneys at Willkie.

  • Del. Match.com Ruling Maintains Precedent In Time Of Change

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    Despite speculation that the Delaware Supreme Court could drive away corporations if it lowered the bar for business judgment review in its Match.com stockholder ruling, the court broke its recent run of controversial precedent-busting decisions by upholding, and arguably strengthening, minority stockholder protections against controller coercion, say Renee Zaytsev and Marc Ayala at Boies Schiller.

  • FDIC Bank Merger Reviews Could Get More Burdensome

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    Recently proposed changes to the Federal Deposit Insurance Corp. bank merger review process would expand the agency's administrative processes, impose new evidentiary burdens on parties around competitive effects and other statutory approval factors, and continue the trend of long and unpredictable processing periods, say attorneys at Simpson Thacher.

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