Try our Advanced Search for more refined results
Mergers & Acquisitions
-
August 23, 2024
Clinic Biz Can Tap Additional Ch. 11 Lifeline, Judge Says
A Delaware bankruptcy judge agreed on Friday to allow clinic operator Pioneer Health to take on more debtor-in-possession financing as it works toward an asset sale, finding the latest arrangement to be in the debtor's best interest.
-
August 23, 2024
SPAC Investors Ask Full 9th Circ. To Rethink Lucid Merger
Investors have urged the full Ninth Circuit to rethink a panel's refusal to revive their 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, arguing that the panel's holding misconstrues U.S. Supreme Court precedent, among other issues.
-
August 23, 2024
Covington-Led Getinge Pays $477M For Organ Transplant Biz
Swedish healthcare company Getinge, advised by Covington & Burling LLP, has unveiled plans to buy Sheppard Mullin Richter & Hampton LLP-led Paragonix, a provider of organ transport products and services in the U.S., in a $477 million deal.
-
August 23, 2024
Wachtell Reps As MLB's Braves Announce Executive Shakeup
The parent company of the Atlanta Braves on Friday announced that Chairman and CEO Terry McGuirk will have increased voting power, representing a major shift in control after Liberty Media Corp. split off from the MLB team and its associated real estate development company in November 2022 to become a separate publicly traded entity.
-
August 23, 2024
Taxation With Representation: Latham, Wachtell, Paul Weiss
In this week's Taxation With Representation, Arch Resources merges with Consol Energy in a deal worth $5.2 billion, Advanced Micro Devices agrees to purchase ZT Systems for $4.9 billion, and Japanese tobacco company JT Group inks a deal to buy Vector Group for $2.4 billion.
-
August 22, 2024
Pennsylvania Hospital Gets 1 Week Reprieve In Steward Ch. 11
A Texas bankruptcy judge on Thursday approved an order setting general closing procedures for bankrupt hospital operator Steward Health Care, but gave Pennsylvania authorities a week's reprieve as they try to arrange a hospital sale.
-
August 22, 2024
Investors Sue Orthopedics Co., Ousted Execs Over Stock Drop
Investors of Texas-based Orthofix Medical Inc. have launched a proposed class action against the spine and orthopedics company and current and former executives, claiming the company's stock tumbled more than 30% following Orthofix's merger with medical technology company SeaSpine in 2023 and the unexpected termination and reshuffle of some of the company's C-suite.
-
August 22, 2024
Big Deals Boost M&A Values As Transaction Numbers Dip
Large global deals and mega-mergers continued to boost global mergers and acquisitions values through the first half of 2024, compensating for record lows in the total number of deals announced, according to a recent report from S&P Global Intelligence.
-
August 22, 2024
Kroger-Albertsons Wrong On Labor Law In FTC Row: NLRB
The National Labor Relations Board used an amicus brief Wednesday to call out Kroger and Albertsons for their "mistaken" citation to labor law as a defense against Federal Trade Commission claims that the grocery giants' $25 billion megamerger threatens union bargaining leverage.
-
August 22, 2024
Israeli Tech Co. Cancels SPAC Deal Amid Market Rout
Pomvom, an Israeli software maker that caters to theme parks, and a special purpose acquisition company announced Thursday they have nixed their planned $125 million merger, which would've taken the tech firm public, citing a "change in global market conditions."
-
August 22, 2024
Borrowed Claims Revived In CenturyLink Merger Suit
A Colorado Court of Appeals panel said Thursday that attorneys can borrow confidential witness statements from other lawsuits without speaking to the witnesses as long as they take other investigatory steps, reinstating a shareholder suit against CenturyLink.
-
August 22, 2024
Flyers Chided For Late Bid To Block Alaska-Hawaiian Deal
A Hawaii federal judge refused to pause the planned $1.9 billion tie-up between Alaska Airlines and Hawaiian Airlines on Wednesday, telling attorneys for the passengers and travel agents bringing a merger challenge that they appear to have "forgotten" the case was tossed.
-
August 22, 2024
Deals Rumor Mill: Saudi Fund, Disney-Reliance, Repligen
Saudi Arabia’s sovereign wealth fund wants to launch a new cargo airline, India’s antitrust regulators worry about power over cricket rights if the $8.5 billion merger of Walt Disney’s Indian business with Reliance Entertainment is allowed, and drug manufacturing provider Repligen is eyeing Maravai LifeSciences. Here, Law360 breaks down these and other notable deal rumors from the past week.
-
August 22, 2024
Mike Lynch's Path From Tech Founder To DOJ Target
Friends and colleagues paid tribute to Mike Lynch following his death in a yachting accident on Thursday, hailing the British tech entrepreneur for the decades he spent furthering the industry despite the legal troubles that threatened to overshadow his career.
-
August 22, 2024
Mining Firm USA Rare Earth Inks $870M SPAC Merger
Mining and magnet firm USA Rare Earth LLC, advised by King & Spalding LLP, on Thursday announced plans to go public at a pro forma enterprise value of $870 million by merging with White & Case LLP-led special purpose acquisition company Inflection Point Acquisition Corp. II.
-
August 22, 2024
'Beloved By Everyone': Attys Recall Clifford Chance's Morvillo
Clifford Chance LLP partner Christopher Morvillo, who died this week after a luxury yacht he was on sank off the coast of Sicily, is being remembered not only as a lion of the legal community but also as an "extraordinary human being" and a "Renaissance man" who was devoted to his family.
-
August 22, 2024
Latham-Led Carlyle Scooping Auto Parts Distributor For $1.5B
Advance Auto Parts said Thursday it has struck an agreement to sell Worldpac Inc., an automotive parts wholesale distribution business, to private equity firm Carlyle for $1.5 billion, as the company looks to streamline operations amid declining profits.
-
August 22, 2024
Mike Lynch's Body Recovered From Yacht Wreck
Mike Lynch, founder of technology company Autonomy, died when a yacht he was aboard sank off the Sicilian coast, his family confirmed Friday, after a trip the entrepreneur had reportedly chartered with his legal team to celebrate their victory in a U.S. fraud case.
-
August 22, 2024
Paramount Board Vets $6B Bronfman Bid, Cravath Counsels
Paramount Global confirmed late Wednesday that a consortium of investors led by media executive Edgar Bronfman Jr. has submitted a proposal to purchase the company, interjecting a bid that complicates Paramount's existing deal to merge with Skydance Media.
-
August 21, 2024
Ropes & Gray Reps TJ Maxx On $360M Brands For Less Deal
The parent company of department store chain TJ Maxx, led by Ropes & Gray LLP, announced Wednesday that it has agreed to take on a 35% stake in Dubai-based Brands For Less for about $360 million.
-
August 21, 2024
Cyber Tech Biz Sued In Del. After Thoma Bravo-Backed Merger
An Exabeam Inc. stockholder sued in Delaware's Court of Chancery on Wednesday for post-merger appraisal of his shares, in part to assure access to books and records related to a tie-up with LogRhythm Inc., alleging multiple disclosure concerns prior to the Thoma Bravo-aligned deal.
-
August 21, 2024
3rd Circ. Affirms Health Chain Win In Pa. Hospital Sale Dispute
The seller of a Pennsylvania hospital was in compliance with its state licensing requirements when the facility was sold, and thus, did not violate the terms of the sale agreement when the buyer needed to update its fire-safety plans to stay licensed, the Third Circuit has affirmed.
-
August 21, 2024
Arch Resources, Consol Energy To Form $5.2B Energy Giant
Latham & Watkins LLP attorneys guided Arch Resources Inc. in its all-stock merger with Consol Energy Inc. on Wednesday to create a new natural resources company dubbed Core Natural Resources with a market capitalization of approximately $5.2 billion.
-
August 21, 2024
FTC Can't Stop $8.5B Merger, Handbag Cos. Say
The owners of Coach and Michael Kors urged a New York federal court not to pause their planned $8.5 billion merger, saying a challenge from the Federal Trade Commission ignores the hundreds of options consumers have when shopping for handbags.
-
August 21, 2024
Ex-Wiley Atty Adds Deals Talent To Polsinelli's DC Team
Polsinelli PC on Tuesday announced the 11th shareholder to join its corporate mergers and acquisitions team, welcoming a Washington, D.C.-based Wiley Rein LLP attorney with more than 15 years of experience in mergers and acquisitions, divestitures and commercial contract negotiations.
Expert Analysis
-
Standardizing Early Case Appraisal In Securities Class Actions
While an initial economic assessment of securities class action litigation is far too often not undertaken, it's an important step in planning the defense strategy that can provide counsel, clients and insurers with a much clearer view of the case, and can be simplified through standardized analyses, says Assen Koev at SCA iPortal.
-
Del. Ruling Highlights M&A Deal Adviser Conflict Disclosures
The Delaware Supreme Court recently reversed the Court of Chancery's dismissal of challenges to Nordic Capital's acquisition of Inovalon, demonstrating the importance of full disclosure of financial adviser conflicts when a going-private merger seeks business judgment rule review, say attorneys at Debevoise.
-
Key Antitrust Class Certification Questions Remain Unclear
The U.S. Supreme Court, by recently rejecting certiorari in Visa v. National ATM, turned down the opportunity to clarify how to analyze disputed evidence bearing on the certification of antitrust class actions, leaving the applicable standards unclear instead of resolving this split of authority, says Jonathan Berman at Jones Day.
-
E-Discovery Quarterly: Recent Rulings On Text Message Data
Electronically stored information on cellphones, and in particular text messages, can present unique litigation challenges, and recent court decisions demonstrate that counsel must carefully balance what data should be preserved, collected, reviewed and produced, say attorneys at Sidley.
-
Dual-Track IPO-M&A Exit Strategies For Life Science Cos.
A dual-track process for life sciences companies offers a proven path to securing favorable deal terms for an exit, and strategic moves can include running a crossover financing round in the lead-up, say attorneys at McDermott.
-
How New Rule Would Change CFIUS Enforcement Powers
Before the May 15 comment deadline, companies may want to weigh in on proposed regulatory changes to enforcement and mitigation tools at the disposal of the Committee on Foreign Investment in the United States, including broadened subpoena powers, difficult new mitigation timelines and higher maximum penalties, say attorneys at Venable.
-
PE In The Crosshairs Of Public And Private Antitrust Enforcers
A series of decisions from a California federal court in the recently settled Packaged Seafood Products Antitrust Litigation, as well as heightened scrutiny from federal agencies, serve as a reminder that private equity firms may be exposed to liability for alleged anti-competitive conduct by their portfolio companies, say attorneys at Axinn.
-
Series
Swimming Makes Me A Better Lawyer
Years of participation in swimming events, especially in the open water, have proven to be ideal preparation for appellate arguments in court — just as you must put your trust in the ocean when competing in a swim event, you must do the same with the judicial process, says John Kulewicz at Vorys.
-
A Recipe For Growth Equity Investing In A Slow M&A Market
Carl Marcellino at Ropes & Gray discusses the factors bolstering appetite for growth equity fundraising in a depressed M&A market, and walks through the deal terms and other ingredients that set growth equity transactions apart from bread-and-butter venture capital investing.
-
PE-Healthcare Mergers Should Prepare For Challenges
State and federal regulators are increasingly imposing new requirements on healthcare transactions involving private equity partners, with mergers that would have drawn little scrutiny a few years ago now requiring a multijurisdictional risk analysis during the deal formation process, say attorneys at Stinson.
-
Why RWI Insurers Should Consider Excluding PFAS
As regulation of per- and polyfluoroalkyl substances escalates, carriers providing representations and warranties insurance should reconsider providing PFAS coverage on a case-by-case basis, say Dave Bartoletti and Ina Avalon at Taft Stettinius.
-
Don't Use The Same Template For Every Client Alert
As the old marketing adage goes, consistency is key, but law firm style guides need consistency that contemplates variety when it comes to client alert formats, allowing attorneys to tailor alerts to best fit the audience and subject matter, says Jessica Kaplan at Legally Penned.
-
Online Portal Helps Fortify Feds' Unfair Health Practices Fight
The Federal Trade Commission, U.S. Justice Department and the U.S. Department of Health and Human Services recently launched an online portal where the public can report potentially unfair healthcare practices, effectively maximizing enforcers' abilities to police anti-competitive actions that can drive up healthcare costs and chill innovation, say attorneys at Seyfarth.
-
Series
Walking With My Dog Makes Me A Better Lawyer
Thanks to my dog Birdie, I've learned that carving out an activity different from the practice of law — like daily outdoor walks that allow you to interact with new people — can contribute to professional success by boosting creativity and mental acuity, as well as expanding your social network, says Sarah Petrie at the Massachusetts Attorney General’s Office.
-
Navigating SPAC Market Challenges For Microcap Issuers
For microcap issuers, the special-purpose acquisition vehicle market tells a cautionary tale in which few targets attain the advantages they seek, and important considerations for companies with market capitalization of under $300 million include negotiating costs and expenses upfront to avoid becoming saddled with debt, say attorneys at Lucosky Brookman.