Mergers & Acquisitions

  • September 26, 2024

    Qualcomm Eyes Massive Buyout Of Intel, Plus Other Rumors

    Qualcomm has approached struggling rival Intel with a takeover offer, Chevron's $53 billion acquisition proposal for Hess is expected to win regulatory clearance, and private Equity Firm BC Partners wants to buy a minority stake in EuroLeague. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • September 26, 2024

    Southwest Airlines Touts Big Changes Amid Activist Pressure

    Southwest Airlines on Thursday revealed a number of developments key to a "transformational" plan meant to drive revenue growth as the airline faces pressure from activist investor Elliott Investment Management, including the appointment of a new director and a $2.5 billion repurchase program.

  • September 26, 2024

    Ex-NBA Star Tells Jury He Was Duped By Ga. Businessman

    Former NBA superstar Dwight Howard told a Manhattan federal jury Thursday that an Atlanta businessman tricked him into making a $7 million investment that he thought was for the purchase of a women's basketball franchise, a promise that turned out to be "a slap in the face."

  • September 26, 2024

    3 Firms Rep As Citi, Apollo Form $25B Private Credit Program

    Banking giant Citigroup and asset management firm Apollo on Thursday unveiled plans to launch a "landmark" $25 billion private credit direct lending program in North America, entering into an exclusive agreement that was guided by three law firms.

  • September 25, 2024

    UpHealth Wins Most Of $115M Award In Glocal Merger Dispute

    Bankrupt digital health services company UpHealth can enforce a large part of a $115 million arbitral award against the Indian healthcare services platform Glocal in their feud over an ill-fated merger, an Illinois federal judge has ruled.

  • September 25, 2024

    US Steel Clears One Hurdle In $14B Nippon Steel Deal

    An arbitration board has sided with U.S. Steel amid its union's challenge to a planned $14.9 billion acquisition by Nippon Steel, clearing one hurdle while Nippon continues fighting on another front for approval from the Committee on Foreign Investment in the U.S.  

  • September 25, 2024

    IP Protection Firm's $426M SPAC Merger Is Scrapped

    Intellectual property management firm Zacco Holdings, formerly known as OpSec Group, and blank check company Investcorp Europe Acquisition Corp. I on Wednesday announced that they will be terminating their merger plans.

  • September 25, 2024

    E-Bike Maker Argues In Del. Supreme Court To Salvage Sale

    An attorney for a private equity affiliate that beat a Barcelona-based electric scooter rental chain's attempt to force a closing on the scooter company's $100 million sale in Chancery Court told Delaware's Supreme Court Wednesday that the seller's current appeal ignores its own fatal contract breaches.

  • September 25, 2024

    Cancer Detection Biz To Go Public Via $694M SPAC Merger

    Special purpose acquisition company Breeze Holdings Acquisition Corp. on Wednesday announced that it has agreed to merge with and take public clinical-stage biopharmaceutical company YD Biopharma Ltd. in a deal that gives the combined company an estimated enterprise value of $694 million and was built by three firms.

  • September 25, 2024

    NYSE Cancels Proposal To Extend SPAC Merger Deadlines

    The New York Stock Exchange has pulled a proposal that would have provided special purpose acquisition companies with more time to complete mergers while remaining listed, several months after it sought regulatory approval for the extension.

  • September 25, 2024

    Cleary-Led Apogee Buys UW Solutions In $240M Cash Deal

    Cleary Gottlieb Steen & Hamilton LLP-led Apogee Enterprises Inc. on Wednesday announced plans to buy high-performance coated substrates maker UW Interco LLC from private equity shop Heartwood Partners, both advised by Finn Dixon & Herling LLP, for $240 million in cash.

  • September 25, 2024

    Rightmove Rejects £6.1B Offer By Murdoch's REA Group

    Rightmove PLC said Wednesday that it has rejected the latest proposed offer of £6.1 billion ($8.1 billion) from Australian online property advertising business REA Group Ltd., dismissing the approach by business magnate Rupert Murdoch's company for the third time.

  • September 25, 2024

    Fuel Refiner Vertex Hits Ch. 11 With $422M Debt, Lender Deal

    Oil refiner Vertex Energy filed for Chapter 11 protection with $422.5 million in debt and plans to pursue a sale under a prenegotiated restructuring agreement.

  • September 25, 2024

    UniCredit To Base Bigger Commerzbank Stake On Benefits

    The chief executive of UniCredit said Wednesday that his Italian bank is considering a further increase to its 21% stake in Commerzbank but would take the step only on terms that are beneficial for shareholders and clients of both lenders. 

  • September 24, 2024

    ATI To Pay $31M In SPAC Merger Litigation Settlement

    An Illinois federal judge on Tuesday approved ATI Physical Therapy Inc.'s $31 million deal to resolve stockholder and derivative accusations that the company's top brass hid attrition issues to get shareholder approval of ATI's merger with Wilco Holding Inc.

  • September 24, 2024

    Chancery Told SwervePay Deserves Sanctions In Earnout Suit

    A court-appointed special magistrate has recommended sanctioning e-payment venture SwervePay and related parties over up to 22 months of missing or deleted text messages sought by SPOSC Investment Holdings and others in a post-merger battle over an alleged multibillion-dollar overstatement of "monetizable" payment traffic.

  • September 24, 2024

    DuPont Employee Defends Mass Email In ERISA Trial

    A DuPont employee was scrutinized on the witness stand Tuesday for the way a worker learned about how the chemical company's merger with Dow would impact their benefits, with a judge calling a heavily redacted trial exhibit useless and a plaintiffs' attorney quizzing her on basic email functions.

  • September 24, 2024

    Everton Finds New Buyer In US Billionaire

    The company controlled by U.S. billionaire businessman Dan Friedkin has agreed to take a majority stake in Everton Football Club in a move that comes after a prior Everton sale fell through amid legal troubles for the buyer.

  • September 24, 2024

    Dish Slams 'Entitled' Standard General Exec's Race Bias Suit

    Dish Network has called for sanctions against Soo Kim, his hedge fund Standard General and their attorneys, calling Kim's racial discrimination suit against Dish, the Federal Communications Commission and a collection of other media players "an expensive temper tantrum."

  • September 24, 2024

    7 Attys In M&A, Real Estate Join Jones Walker In New Orleans

    Jones Walker LLP announced that seven attorneys focused on mergers and acquisitions and real estate law from New Orleans firm Fishman Haygood LLP joined the firm's corporate practice.

  • September 24, 2024

    King & Spalding, Skadden Rep $1.7B DE Shaw-Macquarie Deal

    Australian investment firm Macquarie Asset Management, advised by King & Spalding LLP, on Tuesday announced that it has agreed to take a "significant" minority stake in renewable energy company D.E. Shaw Renewables Investment Group, led by Skadden Arps Slate Meagher & Flom LLP, for up to $1.73 billion.

  • September 24, 2024

    Bradley Hires Real Estate And Corporate Partner In Miss.

    Bradley Arant Boult Cummings LLP hired ex-Balch & Bingham LLP partner M. Patrick Everman as a partner for its real estate and corporate and securities teams in its office in Jackson, Mississippi, the firm announced.

  • September 24, 2024

    2nd Circ. Partly Revives Suit Over $18.5B Telehealth Deal

    The Second Circuit on Tuesday partially revived a suit against telehealth company Teladoc Health Inc. brought by investors who claim they were misled about the status of its integration with Livongo following their $18.5 billion merger.

  • September 24, 2024

    3 Firms Rep As Blackstone, Vista Ink $8.4B Smartsheet Buy

    Work management platform Smartsheet Inc. will be purchased by private equity giants Blackstone and Vista Equity Partners in an all-cash, take-private deal valued at around $8.4 billion that was built by three law firms, the companies said Tuesday.

  • September 24, 2024

    Smiths Group To Buy 2 North American Cos. For £110M

    Industrial technology company Smiths Group PLC said Tuesday that it has agreed to acquire a Canadian electrical heating business and a U.S. metal and flexible ducting manufacturer for a total of £110 million ($147 million), expanding its footprint in North America.

Expert Analysis

  • Calif. Out-Of-State Noncompete Ban Faces Several Hurdles

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    California's attempt to bolster its noncompete law has encountered significant procedural and constitutional challenges, and litigating parties must carefully analyze not only the restrictive covenants contained in their agreements, but also the forum-selection and choice-of-law provisions, say Jennifer Redmond and Gal Gressel at Sheppard Mullin.

  • Autonomy Execs' Acquittal Highlights Good Faith Instruction

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    The recent acquittal of two former Autonomy executives demonstrates that a good faith jury instruction can be the cornerstone of an effective defense strategy in white collar criminal cases, in part because the concept of good faith is a human experience every juror can relate to, says Sara Kropf at Kropf Moseley.

  • Series

    Teaching Scuba Diving Makes Me A Better Lawyer

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    As a master scuba instructor, I’ve learned how to prepare for the unexpected, overcome fears and practice patience, and each of these skills – among the many others I’ve developed – has profoundly enhanced my work as a lawyer, says Ron Raether at Troutman Pepper.

  • Lawyers Can Take Action To Honor The Voting Rights Act

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    As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.

  • PE Firms Should Prepare For Increased False Claims Scrutiny

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    The impact private equity firms may have over medical decisions and care is increasingly attracting potential liability under the False Claims Act and attention from states and the federal government, so investors should follow best practices including conducting due diligence both before and after acquisitions, say attorneys at K&L Gates.

  • Navigating Antitrust Considerations In ESG Collaborations

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    The intersection of ESG goals and antitrust laws presents a complex challenge for businesses and their counsel — but by creating clear frameworks for collaboration, adhering to established guidelines and carefully considering the competitive implications of their actions, companies can work toward sustainability while mitigating legal risks, say attorneys at Morgan Lewis.

  • How To Grow Marketing, Biz Dev Teams In A Tight Market

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    Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.

  • FTC Focus: Private Equity Investments In Healthcare

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    As the Federal Trade Commission is tightening its scrutiny of private equity investment in healthcare, the agency is finding novel grounds to challenge key focus areas, including rollup acquisitions, the flip-and-strip approach and minority investments in rival providers, say attorneys at Proskauer.

  • Series

    Rock Climbing Makes Me A Better Lawyer

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    Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.

  • How 5 States' Deal Notification Laws Are Guiding Healthcare

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    Healthcare transaction notification laws at various stages of implementation in California, Illinois, Indiana, Oregon and Washington are shaping sector mergers and acquisitions, with significant transparency, continuity of care and compliance implications as providers tackle complex regulatory requirements, says Melesa Freerks at DLA Piper.

  • Think Like A Lawyer: Dance The Legal Standard Two-Step

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    From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.

  • Opinion

    OFAC Sanctions Deserve To Be Challenged Post-Chevron

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    The U.S. Supreme Court's Loper Bright decision opens the door to challenges against the Office of Foreign Assets Control's sanctions regime, the unintended consequences of which raise serious questions about the wisdom of what appears to be a scorched-earth approach, says Solomon Shinerock at Lewis Baach.

  • Behind The Delay Of Final HSR Premerger Filing Rules

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    Erin Toomey at Epiq discusses the wait for the final version of the revised Hart-Scott-Rodino premerger filing requirements that were first introduced in June 2023, the factors that might be behind the delay, and how to plan for the potential data-focused rule change

  • Why FDIC Banks May Want To Consider Fed Membership

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    With the Federal Deposit Insurance Corp. recently ratcheting up bank supervision and proposing idiosyncratic new policies, state-chartered nonmember banks may want to explore the benefits of becoming Federal Reserve members and consider practical steps to make the switch, say Max Bonici and Connor Webb at Venable.

  • Opinion

    The FTC Needs To Challenge The Novo-Catalent Deal

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    Novo's acquisition of Catalent threatens to substantially lessen competition in the manufacturing and marketing of GLP-1 diabetes and obesity drugs, and the Federal Trade Commission should challenge it under a vertical theory of harm, as it aligns with last year's merger guidelines and the Fifth Circuit decision in Illumina, says attorney David Balto.

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