Mergers & Acquisitions

  • September 18, 2024

    No Excess Coverage For Atos' Trade Secrets Suit, Judge Says

    A Liberty Mutual unit doesn't owe coverage to a subsidiary of French information technology giant Atos for an underlying trade secrets suit, a New York federal court ruled, saying the company failed to provide timely notice of the claim as required by its $10 million errors and omissions policy.

  • September 18, 2024

    Parent Of UK's TGI Fridays Falls Into Administration

    The British restaurant group that operates TGI Fridays' UK stores has collapsed into administration on Wednesday, along with its plans to sell its 87 restaurants in the UK, the company said after it nixed a deal to acquire U.S. stores earlier this month.

  • September 18, 2024

    WillScot, McGrath RentCorp Nix $3.8B Deal Over FTC Scrutiny

    Temporary space solutions provider WillScot Holdings Corp. and business-to-business rental company McGrath RentCorp on Wednesday unveiled that they have agreed to nix their $3.8 billion merger because there was "no commercially reasonable path" to clear the regulatory hurdles the deal has bumped into since it was announced.

  • September 18, 2024

    Norton Rose Adds Family Office Ace From Sidley In Dallas

    Norton Rose Fulbright has expanded its Dallas shop with the addition of a former Sidley Austin LLP attorney to its corporate, mergers and acquisitions, and securities practice who boasts substantial expertise in the family office industry.

  • September 18, 2024

    HR Software Provider Workday Buys Contract Platform Evisort

    Human resources and finance software provider Workday Inc. is acquiring contract management platform Evisort, the company's second acquisition this year.

  • September 18, 2024

    Organon To Buy Psoriasis Treatment Biz For Up To $1.2B

    Women's healthcare-focused company Organon, advised by Covington & Burling LLP, on Wednesday announced it will purchase Freshfields Bruckhaus Deringer LLP-led Dermavant, a subsidiary of Roivant that develops and commercializes therapies in immuno-dermatology.

  • September 18, 2024

    Trinity To Drop Touchstone Bid After Rival Offer Approved

    Trinity said Wednesday that it intends to walk away from an inferior offer by Canadian rival Touchstone, after the oil and gas exploration company received a nod from Trinidad and Tobago authorities for its £26.4 million ($35 million) sale to Lease Operators.

  • September 18, 2024

    Campari Buys Stake In Whisky Brands Owner For £69.6M

    Italian drinks maker Campari Group said it has bought a 14.6% stake in Capevin Holdings Proprietary Ltd., the South African owner of a whisky producer, for £69.6 million ($92 million) in cash.

  • September 18, 2024

    British Packaging Co. To Buy US Conveyor Biz For $17M

    British packaging business Mpac Group PLC said Wednesday that it has agreed to acquire U.S.-based Boston Conveyor & Automation Inc. for $17 million in a cash-and-stock deal from its sole owner, Jim Laverdiere, expanding Mpac's footprint in North America.

  • September 18, 2024

    Travers Smith, Simpson Thacher-Led PEs In £1.4B Builder Buy

    U.S. investors Sixth Street and Patron Capital said Wednesday that they have agreed to buy U.K. house builder Cala from Legal & General Group PLC for £1.35 billion ($1.78 billion), as the nation's construction sector rebounds from a bruising downturn.

  • September 17, 2024

    Chancery Sides With Truth Social Backer In SPAC Deal Payout

    A Delaware Chancery judge sided Tuesday with the investment sponsor of the entity that took former President Donald Trump's Truth Social media company public, on claims it was shortchanged in the deal, ordering a larger share of the stock be handed over from the transaction.

  • September 17, 2024

    FDIC, OCC Cement New Bank-Merger Policy Guidelines

    Federal banking regulators on Tuesday approved plans to tighten their oversight of bank mergers, scoping out heightened scrutiny for deals that result in banks with $100 billion in assets among other things.

  • September 17, 2024

    Wheel Pros Floats $30M Ch. 11 Sale Of Its 4WP Unit

    Bankrupt automotive wheel company Wheel Pros LLC asked a Delaware bankruptcy court to bless a private $30 million sale of its recently acquired 4WP retail unit to a subsidiary of Australia's ARB Corp., a move that would bypass the usual Chapter 11 auction.

  • September 17, 2024

    DOT Clears $1.9B Alaska-Hawaiian Airlines Combo For Takeoff

    Alaska Airlines and Hawaiian Airlines intend to close their $1.9 billion merger within days as the U.S. Department of Transportation greenlit the deal Tuesday after convincing the companies to agree to conditions meant to protect travelers, rural communities and competition in the market.

  • September 17, 2024

    VivoPower Plots $1.13B Merger After Unit's SPAC Deal Closes

    Sustainable energy solutions company VivoPower and hydrogen technology company FAST are mulling a combination valuing the pair at $1.13 billion, in a potential deal that would follow the departure of VivoPower's electric utility vehicle subsidiary through a special purpose acquisition company merger.

  • September 17, 2024

    White & Case Foreign Investment Pro Joins Paul Hastings

    A longtime White & Case LLP attorney specializing in national security compliance for clients with international business dealings has made the jump to Paul Hastings LLP as a partner in Washington, D.C., the firm announced on Tuesday.

  • September 17, 2024

    Philip Morris To Part With Inhaler Maker In Up To £258M Deal

    Philip Morris International is spacing itself from the British inhaler maker it purchased in 2021 through an up to ​​£258 million ($339.6 million) sale that preserves a commercial relationship, amid what the tobacco company called "unwarranted opposition" to its role in developing inhaled therapeutics.

  • September 17, 2024

    E-Discovery Services Co. Proteus Makes 1st Acquisition

    Indianapolis-based e-discovery services and consulting company Proteus Discovery Group has acquired Portland-headquartered e-discovery provider Novitas Data, marking the company's first acquisition.

  • September 17, 2024

    Merit Medical To Buy Rival's Heart Implant Biz For $210M

    Merit Medical Systems Inc. said Tuesday it has agreed to buy Cook Medical Inc.'s heart device implant portfolio for $210 million, as the U.S. medical product maker looks to capture a slice of the growing global cardiac intervention market.

  • September 17, 2024

    Competitiveness Outranks Climate In New EU Commission

    European Commission President Ursula von der Leyen shifted her focus from climate change to boosting competitiveness as she proposed her team of commissioners for the next five-year mandate Tuesday, handing out key jobs covering everything from competition enforcement to trade policy.

  • September 17, 2024

    Ashurst Hires Fintech Pro From EY Law In London

    Ashurst LLP has recruited an expert in financial technology from EY Law to strengthen its capability to advise clients on digital transformation projects.

  • September 17, 2024

    US Utility AES Sells 30% Stake In Ohio Unit For $546M

    Power generation company AES Corp. said Tuesday that it has sold a 30% stake in its Ohio unit to Canadian investment group CDPQ for $546 million to help fund improvements to its infrastructure and meet a growing demand for data centers.

  • September 17, 2024

    Guardian In Talks To Sell The Observer To Tortoise Media

    The parent company of the Guardian newspaper is in talks to sell the Observer to Tortoise Media, in a possible deal that would include an investment of more than £25 million ($33 million) in the Sunday newspaper, the businesses said Tuesday.

  • September 17, 2024

    Conn. AG Balks At Avangrid's $2.55B Take-Private Deal

    Connecticut Attorney General William Tong and Consumer Counsel Claire E. Coleman want the state's utility watchdog to probe a Spanish energy firm's $2.55 billion proposal to take a Constitution State-based utility private, citing fears about reduced regulatory oversight amid soaring electricity and gas prices.

  • September 17, 2024

    Syensqo Transfers $485M of Pension Risk To Pacific Life, RBC

    Belgian chemicals company Syensqo said Tuesday it has offloaded $485 million of its U.S. and Canadian pension liabilities through a bulk annuity deal with two insurers.

Expert Analysis

  • The Current State Of Healthcare Transaction Reviews In Calif.

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    As of April, certain healthcare transactions in California have been subject to additional notification compliance requirements, and complying with these new rules could significantly delay and discourage some deals, says Andrew Demetriou at Husch Blackwell.

  • Big Banks Face Potential Broader Recovery Plan Rules

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    The Office of the Comptroller of the Currency's recent call for potentially subjecting more banks to recovery planning standards would represent a significant expansion of the scope of the recovery guidelines, and banks that would be affected should assess whether they’re prepared, say attorneys at Debevoise.

  • Practical Private Equity Lessons From 2 Delaware Deals

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    A pair of Delaware Chancery Court cases remind private equity sponsors that specificity is crucial through the lens of deal certainty, particularly around closing conditions and agreement sections of acquisition agreements, say Robert Rizzo and Larissa Lucas at Weil Gotshal and William Lafferty at Morris Nichols.

  • Recruitment Trends In Emerging Law Firm Frontiers

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    BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.

  • 4 Tips For Drafting Earnouts To Avoid Disputes

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    Amid slowed merger and acquisition activity, buyers and sellers are increasingly turning to earnout provisions to get deals done, but these must be carefully drafted to avoid interpretative differences that can lead to later disputes, say attorneys at Cooley.

  • Series

    Glassblowing Makes Me A Better Lawyer

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    I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.

  • Opinion

    Paid Noncompetes Offer A Better Solution Than FTC's Ban

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    A better alternative to the Federal Trade Commission's recent and widely contested noncompete ban would be a nationwide bright-line rule requiring employers to pay employees during the noncompete period, says Steven Kayman at Rottenberg Lipman.

  • How Associates Can Build A Professional Image

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    As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.

  • 5 Steps To Navigating State Laws On Healthcare Transactions

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    As more states pass legislation requiring healthcare-transaction notice, private equity investors and other deal parties should evaluate the new laws and consider ways to mitigate their effects, say Carol Loepere and Nicole Aiken-Shaban at Reed Smith.

  • Firms Must Rethink How They Train New Lawyers In AI Age

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    As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.

  • Inside Antitrust Agencies' Rollup And Serial Acquisition Moves

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    The recent request for public comments on serial acquisitions and rollup strategies from the Federal Trade Commission and U.S. Justice Department mark the antitrust agencies' continued focus on actions that fall below premerger reporting thresholds, say attorneys at Paul Weiss.

  • Think Like A Lawyer: Always Be Closing

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    When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.

  • Reps And Warranties Insurance Considerations As M&A Slows

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    The first six months of the year have seen increasingly favorable rates and policy terms for the representations and warranties insurance market, and policy purchasers are right to pay close attention to pricing, coverage, exclusions, structures and claims as the M&A market cools, say attorneys at Cooley.

  • 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.

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