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Mergers & Acquisitions
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February 07, 2025
SPAC Market Hums Again Following Multiyear Downturn
Special purpose acquisition companies are once again asserting their presence in the capital markets and M&A landscape, forming new vehicles at the highest pace in three years — albeit in leaner form than in the last cycle, when many deals ended in busts.
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February 07, 2025
Ousted CMA Chair Says 'Misinformation' Remains A Challenge
The recently ousted chair of the U.K.'s Competition and Markets Authority reflected on what he said were great strides undoing the antitrust agency's "technocratic" character, but added it made the least progress in combating "lobbying and misinformation" intended to undermine the agency's decisions, including around the cleared Microsoft-Activision merger.
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February 07, 2025
SolarWinds Accepts $4.4B Sale To PE Firm Turn/River Capital
SolarWinds said Friday it has agreed to be sold to Turn/River Capital for $4.4 billion, marking a notable turnaround for a company that came back from a consequential 2020 data breach to become what its CEO told Law360 is now "one of the most secure software companies."
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February 07, 2025
Appellate Court OKs Trim Of Goldman Family Portfolio Battle
A New York state appellate court affirmed a trial court's toss of several claims brought against the late Sol Goldman's real estate empire by inheritors who allege his daughter squeezed them out of the family business and manipulated an appraisal when they sought to cash out on their stake.
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February 07, 2025
Conn. Trial Firm Partner Seeks Sanctions In Heated Split-Up
Connecticut Trial Firm LLC former co-owner Andrew Garza has asked a Connecticut Superior Court judge to issue sanctions against his former 50-50 partner, Ryan McKeen, accusing McKeen of "misconduct presenting a threat to the administration of justice" in heated litigation over the firm's split.
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February 07, 2025
Activist Elliott Takes Aim At $7.2B AspenTech-Emerson Deal
Activist investment firm Elliott Investment Management said Friday it has amassed a more than $1.5 billion stake in Aspen Technology, stating that AspenTech's plan to sell off its remaining shares for $7.2 billion to global technology company Emerson undervalues the business.
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February 07, 2025
Roofing Co.'s Board Fights $11B Hostile Takeover Offer
Beacon Roofing Supply Inc.'s board of directors is urging shareholders to reject an $11 billion hostile takeover bid by QXO Inc., noting the offer is no different from the technology and software company's earlier proposal.
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February 07, 2025
Taxation With Representation: Kirkland, Latham, Skadden
In this week's Taxation With Representation, Triumph Group goes private via Berkshire Partners and Warburg Pincus affiliates, alternative asset manager TPG buys Altus Power, Globus Medical buys Nevro Corp., and Honeywell separates its automation and aerospace technology businesses, resulting in the formation of three distinct companies.
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February 07, 2025
3 Firms Guide Bain On $3.4B Japanese Pharma Co. Buy
Bain Capital said Friday it has agreed to acquire Mitsubishi Tanabe Pharma Corp. from Mitsubishi Chemical Group Corp., in a carveout transaction that values the target at approximately JPY 510 billion, or about $3.36 billion.
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February 07, 2025
3 Firms Build HIG's CA$1.3B Take-Private Of Converge
Converge Technology Solutions Corp. on Friday announced that it has agreed to go private and be bought by private equity shop H.I.G. Capital in a deal that has an enterprise value of CA$1.3 billion ($909.6 million) and was built by three law firms.
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February 07, 2025
4 Firms Steer Cement Maker Titan America's $384M IPO
Shares for the U.S. business of worldwide cement producer Titan Cement International SA debuted Friday after the company priced a $384 million initial public offering within its range, guided by four law firms spanning international borders.
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February 07, 2025
Clifford Chance Helps L&G Sell US Insurance Biz For $2.3B
Legal & General said Friday that it will sell its U.S. protection insurance business to Meiji Yasuda, a Japanese insurer, for $2.3 billion in cash in a move to grow its pensions risk transfer business and allow it to reward shareholders.
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February 06, 2025
Judge OKs 'Unorthodox' Deal To Fund Pa. Hospitals In Ch. 11
Bankrupt hospital operator Prospect Medical has agreed to put its four Philadelphia-area hospitals under receivership for the next 30 days while it hammers out a sale as part of a funding arrangement that a Texas bankruptcy judge on Thursday called "unorthodox."
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February 06, 2025
Jeld-Wen Appealing Forced Factory Sale To 4th Circ., Again
Jeld-Wen Inc. is taking another trip to the Fourth Circuit to fight an order forcing it to sell a door skin factory, filing a notice of appeal Thursday after a Virginia federal judge said a $115 million price is fair.
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February 06, 2025
Earthlink Investors' Attys Score $28M In Merger Suit
The attorneys who helped Earthlink investors score an $85 million settlement with the company after they said they were tricked into approving a $1.1 billion merger with a failing telecommunications company will be walking away with almost $28 million for their trouble.
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February 06, 2025
UnitedHealth Drops Bid To Toss Home Health Deal Challenge
UnitedHealth Group and home health and hospice giant Amedisys Inc. dropped their bid to toss a case challenging their $3.3 billion merger after enforcers detailed the home health and hospice markets they allege will be hurt by the deal.
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February 06, 2025
Warner Music Nabs Top Stake In Owner Of Adele Song Rights
Warner Music Group Corp. said Thursday it has acquired a controlling stake in Tempo Music Investments from Providence Equity Partners, in a reported $450 million deal that gives Warner Music the rights to songs recorded by Adele, Bruno Mars and other popular artists.
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February 06, 2025
FTC GOP Focusing On Merger 'Friction,' AI, 'Censorship'
Federal Trade Commission Republicans are beginning to signal their Trump-era policies, including a friendlier approach to mergers with fewer challenges based on "weak or factually unsupported theories," a more hands-off take on artificial intelligence, and a heavy emphasis on combating alleged online censorship of conservatives.
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February 06, 2025
Globus Medical Buys Device-Maker Nevro In $250M Deal
Musculoskeletal solutions company Globus Medical, advised by Wyrick Robbins Yates & Ponton LLP, on Thursday announced plans to buy Latham & Watkins LLP-led medical device company Nevro Corp. in an all-cash deal with an equity value of roughly $250 million.
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February 06, 2025
Nippon Says US Steel Deal Aligns With Trump Goals
Nippon Steel said Thursday that its proposed $14.9 billion acquisition of Pennsylvania-based U.S. Steel is in line with President Donald Trump's goals, as the Japanese steelmaker dropped hints of its strategy to get the new administration to approve the deal.
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February 06, 2025
Meta Eyes Texas Skies, Another Crypto IPO, And More Rumors
Facebook owner Meta Platforms Inc. is considering relocating its legal residence to Texas, while cryptocurrency exchange Bullish is moving forward on an initial public offering, and Unilever PLC is eyeing New York as a listing destination for its ice cream business.
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February 06, 2025
Filing Claims 'Secret Lockout' Led To Conn. Trial Firm Schism
One of the 50-50 partners litigating the dramatic breakup of Connecticut Trial Firm LLC, a personal injury firm known for high-dollar verdicts, has accused his onetime partner of having "plotted a secret lockout" to remove him from the firm, according to a revised derivative complaint filed in Connecticut state court.
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February 06, 2025
Honeywell To Split Into 3 Entities After Activist Pressure
Industrial conglomerate Honeywell, advised by Skadden Arps Slate Meagher & Flom LLP, on Thursday unveiled plans to fully separate its automation and aerospace technology businesses, which when paired with the company's previously announced plan to spin off its advanced materials business, will result in three separate publicly traded companies.
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February 06, 2025
Kirkland Guiding TPG On $2.2B Altus Power Purchase
Kirkland & Ellis LLP-advised TPG has agreed to purchase Latham & Watkins LLP-guided Altus Power in a deal that values the Stamford, Connecticut-based solar energy provider at approximately $2.2 billion, including debt, Altus said in a Thursday statement.
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February 06, 2025
Weil Guides BCI's £1B Offer For Luxembourg Investor
Canadian asset manager British Columbia Investment Management Corp. plans to take investor BBGI Global Infrastructure SA of Luxembourg private in a cash deal worth £1 billion ($1.24 billion), the companies said Thursday.
Expert Analysis
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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.
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Comments Show Need For Clarity On SBA Proposed Rule
The recent public comments period for the Small Business Administration's proposed rule on recertification and other regulations underscores the need for more precision, particularly on agreements in principle, which the SBA should address as it moves forward with this rulemaking, say attorneys at Covington.
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Series
Beekeeping Makes Me A Better Lawyer
The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.
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Election Unlikely To Overhaul Antitrust Enforcers' Labor Focus
Although the outcome of the presidential election may alter the course of antitrust enforcement in certain areas of the economy, scrutiny of labor markets by the Federal Trade Commission and the U.S. Department of Justice is likely to remain largely unaffected — with one notable exception, say Jared Nagley and Joy Siu at Sheppard Mullin.
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Opinion
Legal Institutions Must Warn Against Phony Election Suits
With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.
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How Cos. Can Build A Strong In-House Pro Bono Program
During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.