Mergers & Acquisitions

  • July 26, 2024

    Warner Bros. Challenges NBA's Lucrative New Amazon Deal

    Negotiations over the rights to broadcast NBA games boiled over into New York state court Friday, with Warner Bros. Discovery accusing the league of improperly spurning its offer to extend their current partnership in favor of a new deal with Amazon.

  • July 26, 2024

    Colorado Cases To Watch 2024: A Midyear Report

    Colorado is at the forefront of state challenges to Kroger's $24 billion proposed merger with Albertsons, regulators are defending a high-cost lending crackdown, and state justices could change how insurers navigate bad faith suits. Here are some of the Colorado cases to watch in the second half of 2024.

  • July 25, 2024

    Fla. Judge Will Consider Coordination Of Truth Social Suits

    A Florida judge said Thursday he would not formally consolidate two lawsuits related to the special purpose acquisition company deal that took Donald Trump's Truth Social public but said he would consider setting up some coordination for judicial efficiency.

  • July 25, 2024

    Chancery Urged To Sanction Musk, X, Attys After Doc Delete

    The founder of a legal research site that makes government documents public has petitioned Delaware's Court of Chancery to sanction Elon Musk, his X entities and his counsel after a court clerk allegedly removed, at the request of attorneys for the billionaire, a document filed in Twitter Inc.'s battle over Musk's $44 billion takeover.

  • July 25, 2024

    AIP Buys AGCO's Grain & Protein Biz In $700M Cash Deal

    Agricultural machinery company AGCO Corp., advised by Simpson Thacher & Bartlett LLP, on Thursday announced plans to sell the majority of its grain and protein business to industrial investor American Industrial Partners, led by Sidley Austin LLP, in an all-cash deal valued at $700 million.

  • July 25, 2024

    Mr. Cooper Picks Up Flagstar Resi Mortgage Unit For $1.4B

    Flagstar Bank NA announced Thursday that it has inked a $1.4 billion deal to sell its residential mortgage servicing business to nonbank mortgage originator Mr. Cooper, as Flagstar and parent New York Community Bancorp eye a turnaround.

  • July 25, 2024

    Dems' Bill Looks To Prevent Collusion With OPEC

    A pair of Democrats in the House and Senate on environmental committees introduced a bill Wednesday to punish fossil fuel companies that collude with OPEC to increase prices.

  • July 25, 2024

    Hertz Tells Chancery Warrant Holders Are Misreading Contract

    A pair of investment funds that acquired 9 million warrants from Hertz after its bankruptcy and later sued the car rental company for breach of contract misinterpreted the warrant agreement, and their lawsuit should be dismissed, Hertz said in a response to the complaint brought before Delaware's Court of Chancery.

  • July 25, 2024

    Simpson Thacher, Kirkland Lead KKR's $4.8B Instructure Buy

    Educational software company Instructure Holdings Inc., advised by Kirkland & Ellis LLP, on Thursday revealed that it has agreed to be bought by private equity giant KKR, led by Simpson Thacher & Bartlett LLP, in an all-cash take-private deal with an enterprise value of roughly $4.8 billion.

  • July 25, 2024

    Vintage Wine Estates Can Tap Into $60.5M DIP Financing

    Bankrupt wine producer and processor Vintage Wine Estates received permission Thursday from a Delaware bankruptcy judge to begin borrowing under a $60.5 million debtor-in-possession financing package being provided by its prepetition lenders.

  • July 25, 2024

    Paramount-Skydance Deal Is Redstone Windfall, Investor Says

    A shareholder of Paramount Global Class B common stock on Wednesday sued chairwoman Shari Redstone and several members of its board over the allegedly "unfair" merger with Skydance Media LLC, claiming the deal is being orchestrated to cash out Redstone's investments in Paramount at a substantial premium compared to other stockholders.

  • July 25, 2024

    4th Circ. Vacates FTC Loss After Novant Bows Out Of Merger

    The Fourth Circuit has agreed to vacate a North Carolina federal judge's ruling allowing Novant Health's planned $320 million hospital merger to advance after the Federal Trade Commission secured an emergency injunction on appeal that effectively killed the deal.

  • July 25, 2024

    Via Renewables Investor Sues In Chancery Over Buyout Deal

    A former common stockholder of Via Renewables Inc. has sued the Houston energy company's board members and controlling stockholders in Delaware's Court of Chancery, alleging they breached their fiduciary duties in connection with a June 13 buyout that took the company private.

  • July 25, 2024

    8 Firms Guide Pair Of IPOs For Health Provider, Airline Giant

    Occupational health services provider Concentra Group Holdings Parent Inc. and South American air travel giant Latam Airlines Group SA debuted in trading Thursday after pricing listings that nearly raised $1 billion combined, guided by eight law firms total.

  • July 25, 2024

    Bally's OKs Standard General's Takeover Valuing It At $4.6B

    Bally's Corp. announced on Thursday its plans to merge with Standard General-owned The Queen Casino & Entertainment Inc., a regional casino operator, in a deal that values Bally's at $4.6 billion and was crafted by five law firms.

  • July 25, 2024

    Deals Rumor Mill: Wiz-Google, Daily Telegraph, Medline IPO

    Cybersecurity startup Wiz has rebuffed a buyout offer from Google, former British finance minister Nadhim Zahawi is preparing a $773 million bid for the Daily Telegraph, and medical supplies giant Medline is preparing an initial public offering for 2025. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • July 25, 2024

    Kroger, Albertsons Agree To Delay $25B Merger Closing

    Kroger Co. and Albertsons said Thursday they agreed to delay closing on their $25 billion merger until after a judge rules on the merits of Colorado regulators' antitrust case, allowing the companies to avoid a two-week hearing next month.

  • July 25, 2024

    Bird & Bird-Led Comms Biz Buys Rival For Up To £13M

    Gamma Communications PLC said Thursday that it has bought call center technology specialist BrightCloud Group Ltd. in a transaction worth up to £13 million ($17 million), as the telecommunication services provider looks toward expansion in Europe.

  • July 24, 2024

    FTC Chair Wary AI Tools Can Be Used For Corporate Collusion

    Federal Trade Commission Chair Lina Khan weighed in on a host of topics during a discussion Wednesday at the Ninth Circuit Judicial Conference, expressing concerns about the agency's high legal bills for expert witnesses and describing AI price-setting tools as a potential loophole for collusion.

  • July 24, 2024

    NBA Reaches $76B, 11-Year Deal With Amazon, NBC, Disney

    The National Basketball Association announced Wednesday that it has negotiated new telecast and streaming agreements with Amazon, NBCUniversal and The Walt Disney Co. collectively worth $76 billion, bringing to an end the league's long-standing partnership with TNT, which has vowed to "take appropriate action."

  • July 24, 2024

    Ex-Arena Group CEO Says He's Owed Fees For Dueling Suits

    The former CEO of digital publisher The Arena Group is demanding that the company make its contractual payments to him to cover his costs for dueling lawsuits against one another in separate state courts, according to a Wednesday suit in Delaware Chancery Court.

  • 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.

Expert Analysis

  • What R&W Insurance Access Means For Small-Cap M&A

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    As a slowdown in mergers and acquisitions has increased insurer appetite for underwriting small-cap transactions, buyers of small and midsize enterprises stand to benefit from easier access to representations and warranties insurance, which can add protection and reassurance for all parties involved in a deal, say Caroline Thee and Ewelina Mikocewicz at Taft Stettinius.

  • Del. Dispatch: Efforts Clause Trumps Contractual Right

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    The Delaware Court of Chancery's Chordia v. Lee ruling this month — that the efforts clause set forth in a stockholders' agreement overrode the acquired company's right to fire its officers and employees — highlights key considerations for parties in such agreements to avoid post-acquisition disputes, say attorneys at Fried Frank.

  • Employee Experience Strategy Can Boost Law Firm Success

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    Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.

  • Series

    Competing In Triathlons Makes Me A Better Lawyer

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    While practicing law and competing in long-distance triathlons can make work and life feel unbalanced at times, participating in the sport has revealed important lessons about versatility, self-care and perseverance that apply to the office as much as they do the racecourse, says Laura Heusel at Butler Snow.

  • Notes Of Interest From 5th Circ. Illumina-Grail Merger Ruling

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    Attorneys at Simpson Thacher consider the Fifth Circuit's recent decision upholding the Federal Trade Commission's challenge of the Illumina merger with Grail, its much-needed boost to the Biden administration's antitrust agenda, and some silver linings the decision offers to merging parties.

  • Where Justices Stand On Chevron Doctrine Post-Argument

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    Following recent oral argument at the U.S. Supreme Court, at least four justices appear to be in favor of overturning the long-standing Chevron deference, and three justices seem ready to uphold it, which means the ultimate decision may rest on Chief Justice John Roberts' vote, say Wayne D'Angelo and Zachary Lee at Kelley Drye.

  • GAO Decision Underscores Complexity Of '180-Day Rule'

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    The Government Accountability Office's ruling last month in Washington Business Dynamics, evaluating its eligibility for a small business set-aside contract, provides an important reminder for companies to stay vigilant of developments around the evolving "180-day rule" for submitting a proposal, say Stephen Ramaley and Adam Bartolanzo at Miles & Stockbridge.

  • Perspectives

    6 Practice Pointers For Pro Bono Immigration Practice

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    An attorney taking on their first pro bono immigration matter may find the law and procedures beguiling, but understanding key deadlines, the significance of individual immigration judges' rules and specialized aspects of the practice can help avoid common missteps, says Steven Malm at Haynes Boone.

  • Bank M&A Considerations Amid 2024's Regulatory Uncertainty

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    Following the decline in banking mergers to the lowest level in more than a decade last year, receptiveness to community bank combinations and positive macroeconomic factors may help banks with less than $50 billion in assets see increased deal-making opportunities this year, despite regulatory uncertainty, say Robert Azarow and Amber Hay at Arnold & Porter.

  • Lessons From Country Singer's Personal Service Saga

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    Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.

  • Inside Del. Determinations Of Specific Performance In M&A

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    Delaware M&A rulings, including several from the end of 2023, shed light on the facts that courts may consider when determining whether a party to a transaction is entitled to specific performance, say attorneys at White & Case and Odeko.

  • 9 Contractual Issues Tech Startups Should Be Wary Of

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    Technology startups often overlook relatively simple but crucial contracting steps that are essential to owning and protecting their intellectual property, and the consequences of this will almost always surface at some point, typically in connection with a key investment or other significant transaction involving the business, say attorneys at Mayer Brown.

  • A Potential Proactive Tool For Public-Private Joint Ventures

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    In the current environment of heightened antitrust enforcement, the National Cooperative Research and Production Act seems tailor-made for the collaborative work among competitors encouraged by the Biden administration's infrastructure and green energy funding legislation, say Jeetander Dulani and Susan Ebner at Stinson.

  • Bracing For Calif.'s New Health Transaction Framework

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    As California's new cost and market impact review regulations' April 1 date for its updated notice and review process approaches, healthcare entities should ready themselves for dramatic changes to the state's regulatory landscape and prepare for potentially substantial transaction delays, say Jordan Grushkin and Matthew Goldman at Sheppard Mullin.

  • FERC Actions Signal Concern Over Investors' Utility Stakes

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    Two recent orders and a notice of inquiry from the Federal Energy Regulatory Commission on the subject of whether large investors are asserting control of public utilities signal increasing regulatory scrutiny of the investment community's influence over the electric power industry, say attorneys at Day Pitney.

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