Mergers & Acquisitions

  • June 18, 2024

    Hargreaves Lansdown Backs £5.4B CVC, Abu Dhabi Bid

    The board of Hargreaves Lansdown PLC said Tuesday that it would be willing to recommend to its shareholders a sweetened £5.4 billion ($6.9 billion) takeover offer from a consortium of private equity companies, including CVC and the sovereign wealth fund of Abu Dhabi.

  • June 18, 2024

    STG Partners' Bid For Gresham Wins Regulatory Approvals

    Gresham Technologies PLC said Tuesday that an attempt by U.S. private equity firm STG Partners LLC to buy the U.K.-based software business for £146.7 million ($186 million) has received a boost by gaining regulatory clearances.

  • June 18, 2024

    US Power-Supply Toolmaker Pulls £571M Bid For Rival

    Advanced Energy Industries Inc. said on Tuesday that it will not make a £571 million ($724 million) offer for XP Power Ltd. of Singapore, after its rival power supplies maker rejected its approach.

  • June 17, 2024

    Milbank Snags FTC Competition Trial Chief For DC Office

    Milbank LLP announced Monday it has hired the chief trial counsel for the Federal Trade Commission's Bureau of Competition, bulking up its Washington, D.C., antitrust and competition practice with a veteran litigator who led the government's challenge to Microsoft Corp.'s $69 billion acquisition of Activision Blizzard.

  • June 17, 2024

    Primo Water, BlueTriton All-Stock Merger Creates Water Giant

    Primo Water Corp., the parent company of popular water brands such as Alhambra and Crystal Springs, on Monday announced plans to merge with the parent company of water brands Poland Spring and Arrowhead, BlueTriton Brands Inc., in an all-stock deal built by five law firms that is meant to create a North American water giant.

  • June 17, 2024

    FTC Says Hospital Won't Fail Without Novant Buyout

    The Federal Trade Commission is pushing back against claims that North Carolina's Lake Norman Regional Medical Center will fail if the agency halts its acquisition by Novant Health, telling the Fourth Circuit that the hospital is, in fact, profitable and stable.

  • June 17, 2024

    Ares, Searchlight-Led Group Plugs £500M Into RSK Group

    British sustainability company RSK Group Ltd., advised by Travers Smith LLP, on Monday announced that it is set to receive a £500 million ($634.5 million) preferred equity investment from a group led by private equity firms Willkie Farr & Gallagher LLP-led Searchlight Capital Partners LP and Dechert LLP-led Ares Management Corp., which will be used to fund growth initiatives.

  • June 17, 2024

    Hertz Warrant Holder Sues In Chancery For Contract Breach

    Two investment affiliates of Discovery Capital Management LP have sued Hertz Global Holdings Inc. in Delaware's Court of Chancery, alleging willful failure to redeem warrants issued in 2021 as part of the company's Chapter 11 and demanding at least $187 million plus interest.

  • June 17, 2024

    Catching Up With Delaware's Chancery Court

    Proposed amendments to Delaware's General Corporation Law that were prompted by several recent Chancery Court rulings sailed through the state Senate last week despite loud opposition from corporate law professors and other Chancery Court watchers, and Tesla shareholders filed two new suits against CEO Elon Musk. 

  • June 17, 2024

    King & Spalding Repping IQVentures On $504M Aaron's Buy

    King & Spalding LLP-repped IQVentures Holdings has agreed to purchase Atlanta-based lease-to-own provider The Aaron's Co. Inc., represented by Jones Day, at an enterprise value of about $504 million, Aaron's said in a Monday statement.

  • June 14, 2024

    'Cockamamie' Live Nation Arbitration Rules Perplex 9th Circ.

    An attorney for Live Nation Entertainment Inc. argued to skeptical Ninth Circuit judges on Friday that a California district judge was wrong to remove ticket buyers' antitrust class claims from arbitration by finding the arbitration agreements unconscionable, with one judge calling the language in the agreements "drafting malpractice," "cockamamie" and "just nuts."

  • June 14, 2024

    Publishing Exec's Family Says Ohio Law Allowed His Ouster

    The board of an Ohio-based media company have said state law empowered them to oust former CEO Allan Block from his family's namesake company and urged an Ohio state court to dismiss the suit he brought over the potential sale of the company that publishes newspapers in Toledo and Pittsburgh.

  • June 14, 2024

    BP Unit Slapped With $300M Franchise Termination Suit

    A trio of entities controlled by two self-proclaimed franchise veterans filed suit in Ohio federal court against a travel center operator acquired by BP in 2023, alleging the company terminated a franchise agreement without warning and caused at least $300 million in damages.

  • June 14, 2024

    France Offers $750M For Atos' Cyber, Data Assets

    Information technology firm Atos SE said Friday that it has received a nonbinding offer from the French government to buy certain big data and cybersecurity operations at an enterprise value of €700 million ($750 million).

  • June 14, 2024

    Novant Urges 4th Circ. To Reject FTC's 'Emergency' Bid

    Novant Health told the Fourth Circuit there is no need to block its planned North Carolina hospital purchase while the Federal Trade Commission pushes a merger challenge, saying the deal will increase competition by preventing the hospitals from closing.

  • June 14, 2024

    Off The Bench: Ex-Players Claim NIL, Loss For Trans Swimmer

    In this week's Off The Bench, the 1983 men's college basketball champions want a piece of the loot the NCAA made off of their names, swimmer Lia Thomas loses in her bid to overturn an international trans athlete ban, and the House gets a bill through committee that would keep college athletes from becoming employees.

  • June 14, 2024

    NC AG Wants Counterclaims Canned In Hospital Contract Suit

    North Carolina's attorney general has sought to dodge counterclaims in a suit accusing a for-profit health network of reneging on promises it made when it bought an Asheville hospital, saying he should be immune and the claims are otherwise redundant.

  • June 14, 2024

    Japan's Kirin Plans $1.4B Fancl Purchase Amid Health Kick

    Kirin Holdings Co. said Friday that it plans to buy the remaining shares it doesn't own in Fancl Corp. for about $1.4 billion, part of the Japanese beverage giant's continued push into the consumer health sector.

  • June 14, 2024

    All The World's A Stage For Tony-Nominated Dechert Co-Chair

    Mark Thierfelder is not only a Dechert LLP co-chair and partner; he’s also a Tony-nominated Broadway producer up for an award this June 16. Here, Law360 Pulse talks to Thierfelder on how he balances his legal work with his creative pursuits.

  • June 14, 2024

    Malaysian Oil Biz Hibiscus Buys TotalEnergies Unit For $259M

    Kuala Lumpur-based oil and gas producer Hibiscus Petroleum Berhad said it has agreed to buy a Brunei subsidiary of France's TotalEnergie for $259 million, advised by Malaysian law firm Murad Yee Partnership.

  • June 14, 2024

    EQT Extends £2B Offer Deadline For Video Gaming Biz

    Keywords Studios said Friday that Swiss private equity firm EQT has been granted extra time to make a £2 billion ($2.5 billion) offer after the Irish gaming services group indicated that it could back the deal.

  • June 13, 2024

    FTC's Ferguson Says He's A Law Enforcer, Not A Policymaker

    Recently minted Federal Trade Commissioner Andrew Ferguson said Thursday that he views his new role as a law enforcer and not a policymaker and said the biggest issue for antitrust law right now is dealing with Big Tech.

  • June 13, 2024

    9th Circ. Doubts SPAC Investors Can Sue Lucid Over Merger

    A Ninth Circuit panel appeared skeptical Thursday of investors' bid to revive a proposed class action alleging that Lucid duped them into buying stock in a special-purpose acquisition company ahead of the electric-vehicle maker's $11.75 billion merger, with two of three judges doubting that the SPAC investors have standing to sue.

  • June 13, 2024

    Express Picks Stalking Horse Bidder As Ch. 11 Buyer

    A stalking horse bidder offering $136 million in cash for the assets of clothing retailer Express Inc. will be the buyer in the debtor's competitive sale process, after its offer was deemed to be the only qualified bid to acquire the assets as a going-concern.

  • June 13, 2024

    Immigrant Bond Co. Says Sale Complied With $811M Order

    An immigrant bond company staring down an $811 million judgment for predatory lending practices is urging a Virginia federal court not to sanction it over its recent sale, saying the transaction complied with the judgment's restrictions on its operations.

Expert Analysis

  • This Earth Day, Consider How Your Firm Can Go Greener

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    As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.

  • New Proposal Signals Sharper Enforcement Focus At CFIUS

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    Last week's proposed rule aimed at broadening the Committee on Foreign Investment in the United States' enforcement authority over foreign investments and increasing penalties for violations signals that CFIUS intends to continue expanding its aggressive monitoring of national security issues, say attorneys at Kirkland.

  • 4 Ways AI Tools Can Improve Traditional Merger Analyses

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    Government officials at the American Bar Association's annual antitrust spring meeting last week reinforced the view that competition cases will increasingly rely on sophisticated data analysis, so companies will likewise need to use Big Tech quantitative techniques to improve traditional merger analyses, say Patrick Bajari, Gianmarco Calanchi and Tega Akati-Udi at Keystone.

  • Oracle Ruling Underscores Trend Of Mootness Fee Denials

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    The Delaware Chancery Court’s recent refusal to make tech giant Oracle shoulder $5 million of plaintiff shareholders' attorney fees illustrates a trend of courts raising the standard for granting the mootness fee awards once ubiquitous in post-merger derivative disputes, say attorneys at Troutman Pepper.

  • Blocked JetBlue-Spirit Deal Illustrates New Antitrust Approach

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    The U.S. Department of Justice’s recent successful block of a merger between JetBlue Airways and Spirit Airlines demonstrates antitrust enforcers’ updated and disparate approach to out-of-market benefits versus out-of-market harms, say Lisa Rumin and Anthony Ferrara at McDermott.

  • Comparing Corporate Law In Delaware, Texas And Nevada

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    With Elon Musk's recent decision to reincorporate his companies outside of Delaware, and with more businesses increasingly considering Nevada and Texas as corporate homes, attorneys at Baker Botts look at each jurisdiction's foundation of corporate law, and how the differences can make each more or less appealing based on a corporation's needs.

  • Practicing Law With Parkinson's Disease

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    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

  • Opinion

    Aviation Watch: Not All Airline Mergers Hurt The Public

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    The U.S. Department of Justice's actions to block recent attempted airline mergers have been touted as serving the interests of the consumers — but given the realities of the deregulated air travel market, a tie-up like the one proposed between JetBlue and Spirit might have been a win for the public, says Alan Hoffman, a retired attorney and aviation expert.

  • The Merger Cases That Will Matter At ABA Antitrust Meeting

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    While the American Bar Association's Antitrust Spring Meeting this week will cover all types of competition law issues in the U.S. and abroad, expect the federal agencies' recent track record in merger enforcement to be a key area of focus on the official panels and in cocktail party chatter, say attorneys at Freshfields.

  • Calif. Verdict Showcases SEC's New 'Shadow Trading' Theory

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    Last week's insider trading verdict, delivered against biopharmaceutical executive Matthew Panuwat by a California federal jury, signals open season on a new area of regulatory enforcement enabled by the U.S. Securities and Exchange Commission's shadow trading theory, say Perrie Weiner and Aaron Goodman at Baker McKenzie.

  • Climate Disclosure Mandates Demand A Big-Picture Approach

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    As carbon emissions disclosure requirements from the European Union, California and the U.S. Securities and Exchange Commission take effect, the best practice for companies is not targeted compliance with a given reporting regime, but rather a comprehensive approach to systems assessment and management, says David Smith at Manatt.

  • Series

    Playing Hockey Makes Me A Better Lawyer

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    Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.

  • Considerations For Evaluating IP Risks In Cannabis M&A

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    Due to the patchwork of state cannabis laws in the U.S., investors and businesses acquiring intellectual property must assess whether a trademark portfolio possesses any vulnerabilities, such as marks that are considered attractive to children or third-party claims of trademark infringement, say Mary Shapiro and Nicole Katsin at Evoke Law.

  • A Snapshot Of The Evolving Restrictive Covenant Landscape

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    Rachael Martinez and Brooke Bahlinger at Foley highlight recent trends in the hotly contested regulation and enforcement of noncompetition and related nonsolicitation covenants, and provide guidance on drafting such provisions within the context of stand-alone employment agreements and merger or acquisition transactions.

  • For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill

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    A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.

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