Mergers & Acquisitions

  • August 12, 2024

    Asian Streaming Platform Plans US Listing Via SPAC Merger

    Asia-focused animation and streaming platform Global IBO Group Ltd. plans to go public in the U.S. at an estimated $8.3 billion valuation by merging with special purpose acquisition company Bukit Jalil Global Acquisition 1 Ltd., under guidance from two law firms.

  • August 12, 2024

    Scotiabank Lands Minority Stake In KeyCorp In $2.8B Deal

    Scotiabank, advised by Cravath Swaine & Moore LLP, has agreed to invest roughly $2.8 billion in Sullivan & Cromwell LLP-led KeyCorp in order to take a minority ownership stake in the financial services company, the two companies announced in separate Monday statements.

  • August 12, 2024

    King & Spalding Adds Freshfields M&A Ace In Silicon Valley

    King & Spalding LLP is expanding its corporate team, announcing Monday it is bringing in a Freshfields Bruckhaus Deringer LLP mergers and acquisitions expert as a partner in its Silicon Valley office.

  • August 12, 2024

    NJ Health System Wants Proskauer DQ'd From Antitrust Case

    Proskauer Rose LLP is facing accusations that it should be disqualified from representing one of New Jersey's largest healthcare systems in an antitrust lawsuit brought by a competitor that was once a client of the firm.

  • August 12, 2024

    Catching Up With Delaware's Chancery Court

    Multimillion-dollar share conversions, power struggles in a classic rock band, a good deal for fandom collectibles, and a pindown by two heavyweights were all part of the spectacle in Delaware's Court of Chancery last week. New cases involved pharmaceutical companies, cannabis, drones and liquid-gas exports. In case you missed it, here's the latest from the Chancery Court.

  • August 12, 2024

    UK To Look Deeper Into Amex GBT's $570M Buy Of CWT

    Britain's antitrust regulator said Monday that it has referred American Express Global Business Travel's proposed acquisition of rival CWT for an in-depth second phase of investigation over concerns the approximately $570 million deal could hurt competition in the country.

  • August 12, 2024

    3 Firms Rep As Crown Buys Revance In $924M Deal

    Skincare company Crown Laboratories Inc. on Monday announced that it has agreed to merge with aesthetic healthcare biotechnology company Revance Therapeutics Inc. in a $924 million deal built by three law firms.

  • August 12, 2024

    Turkish Biz Won't Raise $310M Bid For Cruise Port Operator

    Turkish conglomerate Global Yatirim Holding AS said on Monday that it will not raise its buyout price for the remaining shares of U.K. cruise port operator Global Ports Holding PLC that it does not already own.

  • August 12, 2024

    Linklaters-Led Bharti To Buy 24.5% BT Stake From Altice

    Bharti Enterprises said Monday that it has agreed to buy a stake of approximately 24.5% in telecommunications giant BT Group PLC as the Indian conglomerate seeks to expand its global presence.

  • August 09, 2024

    Ex-Twitter Board Member Says X Owes Him $23M From Stock

    A former member of Twitter's board of directors who helped oversee the sale of the social media company to Elon Musk in 2022 claimed X Corp. owes him more than $23 million worth of vested and unvested shares, according to a lawsuit filed in California state court.

  • August 09, 2024

    Pitney Bowes' E-Commerce Arm Can Tap $47M DIP In Ch. 11

    A Texas bankruptcy judge on Friday gave DRF Logistics LLC the go ahead to borrow $45 million under a Chapter 11 loan funded by its former parent, shipping company Pitney Bowes Inc., which let go of its majority stake in DRF to wind down the unprofitable e-commerce division in bankruptcy.

  • August 09, 2024

    Biotech Firms Mull Acquisition Offers Amid Shaky IPO Climate

    Amid a shaky outlook for initial public offerings, more private biotechnology firms are exploring acquisition offers from larger pharmaceutical companies as a more certain exit strategy, according to experts who advise emerging drug developers.

  • August 09, 2024

    Healthcare-Focused SPAC Voyager Nets $220M IPO

    Shares of healthcare-focused Voyager Acquisition Corp. began trading publicly on Friday after the company priced its $220 million initial public offering.

  • August 09, 2024

    4 Firms Guiding Italian IT Firm Almaviva's $335M Iteris Buy

    Italian digital innovation group Almaviva S.p.A. has agreed to purchase Austin, Texas-based infrastructure management provider Iteris Inc. for approximately $335 million equity value, Iteris said in a statement Friday. 

  • August 09, 2024

    Amynta Lodges Fraud Suit In Chancery Over $105M Merger

    An affiliate of multinational insurance services provider Amynta Group filed a lawsuit on Friday in Delaware's Court of Chancery against two top officers of Clearview Risk Holdings Inc., accusing both of playing a role in a multiyear Ponzi scheme allegedly designed to protect post-deal earnouts after a purportedly overpriced $105 million merger.

  • August 09, 2024

    Lucid Narrows Securities Suit Over EV Production Targets

    A California federal judge has trimmed a suit alleging electric-vehicle startup Lucid Group Inc. misled investors about its production target, trimming the case down to four out of 30 statements the investors said were misleading.

  • August 09, 2024

    Kraft-Heinz Investor Can't Revive Del. Insider Trading Suit

    Attorneys for a Kraft Heinz stockholder lost a bid to convince Delaware's Court of Chancery that new evidence justified reopening a dismissed suit alleging that company insiders with ties to a controlling investor, Brazilian private equity firm 3G Capital Inc., sold $1.2 billion worth of shares on nonpublic information.

  • August 09, 2024

    Wash. AG Says Kroger Refusing To Delay Merger For Ruling

    The Washington Attorney General's Office told a state court that Kroger will not agree to put off closing its planned merger with Albertsons until after a final ruling in the state's merger challenge, but the companies say they've already agreed not to finalize the deal until litigation plays out in another state.

  • August 09, 2024

    Croke Fairchild Adds Ex-Chicago Transactions Lead

    Chicago-based Croke Fairchild Duarte & Beres LLC announced Friday the hiring of a general counsel at venture firm Anzu Partners who was a former head transaction attorney for the corporate department of the city of Chicago.

  • August 09, 2024

    Merck To Buy Autoimmune Treatment Drug For Up To $1.3B

    Pharmaceutical giant Merck, advised by Hogan Lovells, said Friday it has agreed to buy a novel, investigational, clinical-stage, bispecific antibody used to treat B cell-associated diseases from Goodwin Procter LLP-led Curon Biopharmaceutical for up to $1.3 billion.

  • August 09, 2024

    News Corp. Mulls Sale Of Australia's Foxtel Group

    Media conglomerate News Corp. disclosed in its fourth-quarter earnings report that it is entertaining external interest in its majority-owned Foxtel Group, the Australian pay television company that provides cable, satellite and on-demand television services.

  • August 09, 2024

    Algonquin Power Selling Renewable Business For Up To $2.5B

    Gibson Dunn-led Canadian utility Algonquin Power & Utilities Corp. has agreed to sell its renewable energy business to a wholly owned subsidiary of Milbank-advised LS Power for up to $2.5 billion, the companies said in statements Friday. 

  • August 09, 2024

    Food Tech Biz JBT's Investors Approve €3.5B Deal With Rival

    JBT Corp. shareholders have approved plans to buy out Iceland-based rival Marel HF for €3.5 billion ($3.8 billion), as the U.S. food processing technology giant moves to expand the company.

  • August 09, 2024

    Hargreaves Lansdown Agrees To £5.4B CVC Takeover Offer

    Hargreaves Lansdown PLC said Friday that its board has agreed to a £5.4 billion ($6.9 billion) take-private offer from a consortium of private equity companies, including CVC and the sovereign wealth fund of Abu Dhabi.

  • August 08, 2024

    SPAC Investors Can't Sue Lucid Over Merger, 9th Circ. Says

    The Ninth Circuit on Thursday refused to revive investors' 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, saying an acquiring company's investors can't sue the target company over its alleged misstatements before the merger.

Expert Analysis

  • PE-Healthcare Mergers Should Prepare For Challenges

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    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

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    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

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    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

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    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

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    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

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    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.

  • Think Like A Lawyer: Follow The Iron Rule Of Trial Logic

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    Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.

  • The Art Of Asking: Leveraging Your Contacts For Referrals

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    Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.

  • The Drawbacks Of Banking Regulators' Merger Review Plans

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    Recent proposals for bank merger review criteria by the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. share common pitfalls: increased likelihood of delays, uncertainties, and new hurdles to transactions that could impede the long-term safety and soundness of the banks involved, say attorneys at WilmerHale.

  • Series

    Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • 7th Circ. Mootness Fee Case May Curb Frivolous Merger Suits

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    On April 15, the Seventh Circuit in Jorge Alcarez v. Akorn Inc. mapped out a framework for courts to consider mootness fees paid to individual shareholders after the voluntary dismissal of a challenge to a public company merger, which could encourage objections to mootness fees and reduce the number of frivolous merger challenges filed, say attorneys at Skadden.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

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    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • What 3rd Circ. Trust Ruling Means For Securitization Market

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    Mercedes Tunstall and Michael Gambro at Cadwalader break down the Third Circuit's March decision in Consumer Financial Protection Bureau v. National Collegiate Master Student Loan Trust, as well as predict next steps in the litigation and the implications of the decision for servicers and the securitization industry as a whole.

  • Ensuring Nonpublic Info Stays Private Amid SEC Crackdown

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    Companies and individuals must take steps to ensure material nonpublic information remains confidential while working outside the office, as the U.S. Securities and Exchange Commission continues to take enforcement actions against those who trade on MNPI and don't comply with new off-channel communications rules in the remote work era, say attorneys at BakerHostetler.

  • Behind Indiana's Broad New Healthcare Transactions Law

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    The high materiality threshold in Indiana's recently passed healthcare transaction law, coupled with the inclusion of private equity in its definition of healthcare entities, makes it one of the broadest state review regulations to date, say attorneys at DLA Piper.

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