Mergers & Acquisitions

  • November 12, 2024

    Tempur Sealy Merger 'Surprisingly Bold,' Competitor Testifies

    The CEO of a Utah-based mattress company told a Houston federal judge Tuesday that Tempur Sealy's proposed remedies under its $4 billion planned Mattress Firm purchase were "surprisingly bold" as the Federal Trade Commission began its case in opposition of the merger.

  • November 12, 2024

    Hertz Investors Urge Chancery Not To Toss Stock Warrant Suit

    An attorney for two Hertz Inc. institutional investors told a Delaware judge Monday that the vehicle rental giant relied on an impermissible reinterpretation of a warrant agreement to reject a redemption demand purportedly triggered by the company's post-Chapter 11 recapitalization.

  • November 12, 2024

    Truth Social Sponsor's Shares Mostly Gone, Del. Court Told

    An attorney for the former CEO of a company central to the public stock listing of Donald Trump's social media platform told a Delaware vice chancellor Monday only 45,000 shares remain available from an 8.1 million share founders' stake now at the center of multiple suits in multiple courts.

  • November 12, 2024

    Cardinal Health, Endeavor Group Top Veterans Day M&A Deals

    While banks and federal offices were closed on Monday for Veterans Day, some companies were busy at work announcing various M&A transactions, including Cardinal Health's plan to pay a total of $3.9 billion to acquire two separate companies and Endeavor Group's sale of OpenBet and IMG Arena for $450 million.

  • November 12, 2024

    Trump's 'Pro-Business' Agenda Could Be A Boon For M&A

    President-elect Donald Trump's "pro-business" priorities and an anticipated relaxation of antitrust scrutiny are expected to boost mergers and acquisitions activity, but his tariff plan may have mixed results across sectors — and select deals could be subject to his "unpredictability," attorneys told Law360.

  • November 12, 2024

    Proskauer Brings On NY Corporate Duo From Ropes & Gray

    Proskauer Rose LLP has added two new corporate lawyers to its New York office, saying the former Ropes & Gray LLP pair's experience with distressed and special situations will be an asset to Proskauer's mergers and acquisitions team.

  • November 12, 2024

    Morgan Lewis M&A Pro Jumps To Baker Botts In Palo Alto

    Baker Botts LLP has hired an attorney who previously worked at Morgan Lewis & Bockius LLP, Winston & Strawn LLP and other firms to bolster its mergers and acquisitions practice on the West Coast.

  • November 12, 2024

    DOJ Suing To Block UnitedHealth Unit's $3.3B Amedisys Deal

    The U.S. Department of Justice and four U.S. states filed a lawsuit Tuesday seeking to block UnitedHealth Group's Optum unit from going through with its planned $3.3 billion purchase of Amedisys Inc., arguing the deal will harm competition in the home health and hospice services. 

  • November 12, 2024

    Elliott Reveals $5B Honeywell Holding, Calls For Change

    Elliott Investment Management LP said Tuesday it has amassed a $5 billion stake in Honeywell International Inc. as the firm pushed the industrial conglomerate to separate itself into two independent companies.

  • November 12, 2024

    Arthur Cox-Led Kerry Group To Sell Dairy Biz For €500M

    Food flavorings business Kerry Group said Tuesday that it has agreed to sell its dairy foods subsidiary Kerry Dairy Ireland to its affiliate Co-Op for €500 million ($530 million) in a deal guided by Arthur Cox LLP and McCann FitzGerald LLP.

  • November 12, 2024

    Brookfield To Sell German, Dutch Assets Of Tritax To Segro

    British real estate investment trust Segro said Tuesday that it had reached a deal with Brookfield to buy parts of Tritax EuroBox PLC after Brookfield completes a £557 million ($728 million) proposed acquisition of Tritax, a logistics property investor.

  • November 11, 2024

    AI-Focused Semiconductor Maker Puts SPAC Deal On Hold

    Sivers Semiconductors AB said Monday that it has paused the proposed merger of its laser semiconductor subsidiary with special purpose acquisition company byNordic Acquisition Corp., because of the market conditions for small cap companies in the U.S.

  • November 11, 2024

    Clifford Chance Leads £207M Swiss Bourse Bid For UK's Aquis

    Aquis Exchange PLC said Monday that it has backed a £207 million ($267 million) cash offer from Swiss bourse operator SIX Exchange Group AG, a deal that will hand over London's challenger stock market to a foreign buyer.

  • November 08, 2024

    1st Circ. Affirms Order Ending Jet Blue-American Partnership

    The First Circuit backed a lower court decision blocking a partnership between JetBlue and American Airlines that it found substantially diminished competition in the domestic air travel market, saying it found no error in the district judge's thorough review of the deal that could revive the venture.

  • November 08, 2024

    Kustom Entertainment's $222M SPAC Merger Goes Kaput

    Blank-check company Clover Leaf Capital is terminating its planned merger with live entertainment organizer Kustom Entertainment Inc., according to a Friday announcement.

  • November 08, 2024

    Experienced Dealmakers Lead 3 SPACs Raising $365M Total

    Three special purpose acquisition companies began trading Friday after pricing initial public offerings that raised $365 million combined under guidance from four law firms, marking the latest sign that more SPACs, particularly those with prior deals under their belts, are willing to test an improving market.

  • November 08, 2024

    Astrana Health Acquires Prospect Health In $745M Deal

    Healthcare company Astrana Health Inc., advised by Russ August & Kabat LLP, on Friday announced plans to buy integrated care delivery system Prospect Health System, led by Sheppard Mullin Richter & Hampton LLP, in a $745 million deal meant to ensure that health care remains local and personalized for patients across four states.

  • November 08, 2024

    Judge Will Give Solar Co. $3M Interim Lifeline In Ch. 11

    A Delaware bankruptcy judge said Friday she will grant Oya Renewables, a solar energy producer with offices in Boston and Toronto, interim access to $3 million in postpetition funding on offer from its Chapter 11 stalking horse bidder once some final modifications are made.

  • November 08, 2024

    Nexans To Sell US Cables Biz To Dentons-Led Mattr For $280M

    Energy transition company Nexans said Friday that it has agreed to sell its U.S.-based cable subsidiary AmerCable Inc. to Canadian infrastructure technology company Mattr Corp. for $280 million in a deal guided by Dentons.

  • November 08, 2024

    Apollo Gets Extension To Make £1B Offer For Auto-Parts Biz

    Auto parts supplier TI Fluid Systems said Friday that Britain's mergers and acquisitions authority has granted a company backed by private equity giant Apollo more time to make it a firm offer worth approximately £995 million ($1.3 billion).

  • November 07, 2024

    Wash. Gov.-Elect Outlines Plan To Resist Less 'Sloppy' Trump

    As Washington attorney general, Bob Ferguson said he thwarted policies during a "sloppy" first Trump presidency, including blocking an immigration travel ban. And on Thursday, Ferguson, who becomes governor in January, said he is leaving an office well-equipped for a potential round two of litigation with an emboldened and potentially more disciplined Trump administration.

  • November 07, 2024

    Chancery Mulls Stay, Toss Of SPAC Suit Pending NJ Ruling

    Attorneys for the sponsor of a deal that took digital health equipment venture Butterfly Network public in February 2021 argued Thursday for a stay or dismissal of a Delaware Court of Chancery suit challenging the deal, citing extensive overlap with an earlier-filed federal securities action in New Jersey.

  • November 07, 2024

    Alaska Flyers Lodge Emergency 9th Circ. Bid To Halt Merger

    Flyers and travel agents hoping to block Alaska Airlines' $1.9 billion merger with Hawaiian Airlines are asking the Ninth Circuit for an emergency halt to any further integration between the companies while they appeal a district court's dismissal of their suit, telling the judges consumers will be hurt if the merger continues.

  • November 07, 2024

    Solar Energy Co. Hits Ch. 11 With $100M In Debt, Sale Plans

    Oya Renewables, a solar energy producer with offices in Boston and Toronto, has filed for Chapter 11 protection in the Delaware bankruptcy court, disclosing at least $100 million in liabilities — including almost $87 million in funded debt — and plans to sell its assets, while blaming factors such as project delays and litigation for its liquidity crunch.

  • November 07, 2024

    Investors Accuse Truth Social SPAC's Ex-CEO Of Stock Theft

    The former CEO of the special purpose acquisition company that combined with Donald Trump's Truth Social company has been accused of stealing millions of SPAC shares by funneling them to offshore shell entities and misappropriating investments to fund his "lavish" Miami lifestyle.

Expert Analysis

  • Circuit Judge Writes An Opinion, AI Helps: What Now?

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    Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.

  • A Look At M&A Conditions After FTC's Exxon-Pioneer Nod

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    The Federal Trade Commission's recent consent decree imposing several conditions on Exxon Mobil's acquisition of Pioneer Natural Resources helps illustrate key points about the current merger enforcement environment, including the probability of further investigations in the energy and pharmaceutical sectors, say Ryan Quillian and John Kendrick at Covington.

  • FTC Theories Of Harm After Anesthesia Co. Ruling

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    As Federal Trade Commission litigation against U.S. Anesthesia Partners proceeds following a Texas federal court's recent decision to dismiss a private equity sponsor from the suit, the case attempts to incorporate and advance some of the commission's theories of competitive harm from the final 2023 Merger Guidelines, say attorneys at Mintz.

  • BF Borgers Clients Should Review Compliance, Liability

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    After the U.S. Securities and Exchange Commission's recently announced enforcement proceedings against audit firm BF Borgers for fabricating audit documentation for hundreds of public companies, those companies will need to follow special procedures for disclosure and reporting — and may need to prepare for litigation from the plaintiffs bar, say attorneys at Debevoise.

  • Perspectives

    Trauma-Informed Legal Approaches For Pro Bono Attorneys

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    As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.

  • What Updated PLR Procedure May Mean For Stock Spin-Offs

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    A recently published Internal Revenue Service revenue procedure departs from commonly understood interpretations of the spinoff rules by imposing more stringent standards on companies seeking private letter rulings regarding tax-free stock spinoff and split-off transactions, and may presage regulatory changes that would have the force of law, say attorneys at Skadden.

  • Series

    Playing Music Makes Me A Better Lawyer

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    My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.

  • What's New In Kentucky's Financial Services Overhaul

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    Kentucky's H.B. 726 will go into effect in July and brings with it some significant restructuring to the Kentucky Financial Services Code, including changes to mortgage loan license fees and repeals of provisions relating to installment term loans and savings associations, say attorneys at Frost Brown.

  • How Attys Can Avoid Pitfalls When Withdrawing From A Case

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    The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.

  • Using A Children's Book Approach In Firm Marketing Content

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    From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.

  • FTC Noncompete Rule Risks A Wave Of State AG Actions

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    The Federal Trade Commission's final rule language banning noncompetes may contribute to a waterfall enforcement effect in which state attorneys general deploy their broad authority to treat noncompetes as separate and independent violations, say Ryan Strasser and Carson Cox at Troutman Pepper.

  • What Transactional Attys Must Know About Texas Biz Courts

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    As Texas prepares to launch its new business courts, transactional attorneys — especially those involved in commercial, securities and internal governance matters — should keep several issues in mind when considering use of the state's business court system to facilitate deals and settle disputes, say attorneys at Katten.

  • A Comparison Of FDIC, OCC Proposed Merger Approaches

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    Max Bonici and Connor Webb at Venable take a closer look at the Federal Deposit Insurance Corp.'s and Office of the Comptroller of the Currency's respective bank merger proposals and highlight certain common themes and important differences, in light of regulators continually rethinking their approaches to bank mergers.

  • Series

    Being An EMT Makes Me A Better Lawyer

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    While some of my experiences as an emergency medical technician have been unusually painful and searing, the skills I’ve learned — such as triage, empathy and preparedness — are just as useful in my work as a restructuring lawyer, says Marshall Huebner at Davis Polk.

  • The Opportunities, Risks And Rewards Of AI Acquisitions

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    As artificial intelligence acquisitions become an increasing area of focus for investors and technology buyers, entities should pay special attention to target identification, due diligence and more when structuring and executing a transaction with a company that has an AI-centric business model, say attorneys at Foley & Lardner.

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