Mergers & Acquisitions

  • June 10, 2024

    Rehab Clinics Add To MultiPlan Insurance Fixing Pile-On

    Addiction treatment providers sued MultiPlan, Aetna, Cigna, UnitedHealth and Elevance Friday and Saturday in 14 separate New York federal court complaints that appear to be the first to add substance abuse disorder-specific allegations to the cases pegging MultiPlan at the center of a scheme to suppress insurer payouts.

  • June 10, 2024

    Chancery Retains Most Healthcare Tech Merger Suit Claims

    Nearly all the allegations of fraud, breach of contract and related claims lodged by healthcare technology venture Trifecta Multimedia Holdings Inc. against acquirer WCG Clinical Services have survived dismissal challenges and will move toward trial, a Delaware vice chancellor ruled Monday.

  • June 10, 2024

    Ex-Sports Illustrated Publisher Countersues Owner In TM Row

    The former publisher of Sports Illustrated has filed a countersuit alleging that the magazine's owner, Authentic Brands Group, made it impossible to run the magazine and then conspired to install a competitor as the new publisher.

  • June 10, 2024

    House Dems Push For More Info On Sports Streaming Venture

    A pair of House Democrats are pushing The Walt Disney Co., Fox and Warner Bros. Discovery for more information on their planned joint streaming venture, saying the companies' previous response did not assuage their concerns about competition, consumer protection and pricing.

  • June 10, 2024

    Conn. Hospital Broke $4.25M Property Sale Deal, Buyer Says

    A Connecticut hospital has been accused in state court of breaking its $4.25 million property sale contract after the sale was called off following the hospital's merger with Northwell Healthcare Inc.

  • June 10, 2024

    Arnold & Porter Advises Cognizant On $1.3B Belcan Buy

    Arnold & Porter Kaye Scholer LLP is guiding Cognizant on a newly inked agreement to buy Kirkland & Ellis LLP-repped Belcan for about $1.3 billion, Cognizant said in a statement Monday.

  • June 10, 2024

    FTC To Fight Go-Ahead Order On Novant $320M Hospital Deal

    Just days after a district court loss, the Federal Trade Commission said Monday it will ask the Fourth Circuit to step in and block Novant Health from buying two North Carolina hospitals in a $320 million deal the agency contends would harm competition.

  • June 10, 2024

    Conduent Buys Back $132M Of Shares From Carl Icahn

    Business services provider Conduent Inc. on Monday agreed to repurchase $132 million of common stock from activist investor Carl Icahn, ending Ichahn's stock in the company through a deal guided by Willkie Farr & Gallagher LLP and Holland & Knight LLP.

  • June 10, 2024

    Addus HomeCare Buys Gentiva's Personal Care Biz For $350M

    Home care services company Addus HomeCare Corp. on Monday unveiled plans to buy the personal care operations from hospice company Gentiva for an anticipated price of roughly $350 million in a deal shaped by three law firms.

  • June 10, 2024

    Catching Up With Delaware's Chancery Court

    Big players and big moves dominated much of the past week in Delaware's Court of Chancery, as Tesla in particular and big corporations in general showed their pique over rulings that went toward stockholders or against conventional expectations.

  • June 10, 2024

    Vista Outdoor Rejects MNC's Over $3B Takeover Bid

    Vista Outdoor Inc. said Monday that it rejected MNC Capital Partners' over $3 billion takeover offer that it lobbed at the outdoor goods company last week, while simultaneously announcing a new $2 billion offer for its sporting products division from an undisclosed U.S.-based private investment firm.

  • June 10, 2024

    Elliott Presses Southwest Airlines For Leadership Changes

    Elliott Investment Management LP said Monday that it has amassed a stake in Southwest Airlines of approximately $1.9 billion as it pushed the airline to make leadership changes, but Southwest was quick to defend its top brass. 

  • June 10, 2024

    Ventilator Co. Vyaire Hits Ch. 11 As COVID Demand Wanes

    Vyaire Medical Inc., a company that makes breathing ventilators and other respiratory treatment and diagnosis products, filed for Chapter 11 protection in Delaware after demand for its products waned following the COVID-19 pandemic.

  • June 10, 2024

    Paul Weiss Guides Noble Corp. In $1.6B Deal To Buy Rival

    Offshore drilling contractor Noble Corp. PLC said Monday that it will buy Diamond Offshore Drilling Inc. in a cash and stock deal that values the rival operator at $1.6 billion.

  • June 07, 2024

    SEC Fines Ex-AstraZeneca Insider $1.4M For Merger Trades

    The U.S. Securities and Exchange Commission has ordered a former AstraZeneca employee to pay $1.4 million to settle claims he used nonpublic information to trade CinCor Pharma shares ahead of the public announcement that the two companies would merge.

  • June 07, 2024

    Don't Delay In-House Handbags Case For Fed. Court, FTC Told

    Federal Trade Commission staffers are urging the commission not to delay an in-house challenge to the planned $8.5 billion merger combining the parent companies of Coach and Michael Kors, arguing that a separate New York federal court fight won't automatically determine the deal's fate.

  • June 07, 2024

    FaZe Clan SPAC Investor Sues B. Riley In Chancery Court

    Former stockholders of the blank-check company that took electronic sports and entertainment company FaZe Clan public in a $725 million transaction in July 2022 sued B. Riley Financial and others behind the deal on Friday in Delaware's Court of Chancery, alleging disclosure failures and breaches of fiduciary duty.

  • June 07, 2024

    Yale Hospital Sued For Seeking To Exit $435M Purchase Deal

    California-based Prospect Medical Holdings Inc. has sued Yale New Haven Health for seeking to back out of a $435 million acquisition of three financially distressed Connecticut hospitals, accusing the state's largest hospital of breach of contract and wrongfully leaking a prior lawsuit to the press.

  • June 07, 2024

    Brewery Wants Extra Damages For Co-Owner's 'Brazen' Theft

    A Colorado brewery accusing a former manager of embezzling hundreds of thousands of dollars has asked a state court for permission to seek exemplary damages, saying there's plenty of evidence the former manager willfully stole the money for himself and competing businesses he had a stake in.

  • June 07, 2024

    Acorda Therapeutics Gets OK On $185M Ch. 11 Sale To Merz

    Drugmaker Acorda Therapeutics Inc. received a New York bankruptcy judge's approval Friday to complete a $185 million sale of its assets to a fellow pharmaceutical company, allowing Acorda to move ahead with a Chapter 11 plan to wind down its business.

  • June 07, 2024

    Dentons Adds Pair Of Husch Blackwell Tax Attys

    Two South Carolina tax attorneys have joined Dentons' corporate, tax and private client practice as partners after moving from Husch Blackwell LLP, the firm announced on Thursday.

  • June 07, 2024

    Bryan Cave, Goodwin Guide New Era's Merger With '47 Brand

    Acon Investments-owned New Era Cap LLC announced Friday that it agreed to buy fellow sports lifestyle brand '47 to create a merged business that brings in roughly $2 billion in annual revenue in a deal built by Bryan Cave Leighton Paisner LLP and Goodwin Procter LLP.

  • June 07, 2024

    Davis Polk Guides Emerson On $3.5B Copeland JV Exit

    Davis Polk & Wardwell LLP represented Emerson on a newly inked agreement to sell its remaining stake in its Copeland joint venture to Blackstone in a $3.5 billion deal.

  • June 07, 2024

    Ropes & Gray-Repped Bain Buying PowerSchool In $5.6B Deal

    Bain Capital has agreed to buy PowerSchool Holdings Inc., a provider of cloud-based software for K-12 education, in a deal that values the business at $5.6 billion, the companies said in a statement Friday. 

  • June 06, 2024

    FTC Says Kroger Hasn't Turned Over Promised Documents

    The Federal Trade Commission urged an administrative law judge on Tuesday to require Kroger to fork over documents related to negotiations for its divestiture plan amid the commission's in-house challenge to the grocer's merger with Albertsons, saying Kroger's prior representations that it would produce the materials "have proven false."

Expert Analysis

  • Series

    Whitewater Kayaking Makes Me A Better Lawyer

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    Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.

  • Del. Lessons For Director-Nominees On Sharing With Activists

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    The Delaware Chancery Court's recent decision in Icahn Partners v. deSouza finding that a director wasn't permitted to share certain privileged information with the activist stockholders that nominated him shows the need for companies to consider imposing appropriate confidentiality requirements on directors, say attorneys at Sullivan & Cromwell.

  • This Earth Day, Consider How Your Firm Can Go Greener

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    As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.

  • New Proposal Signals Sharper Enforcement Focus At CFIUS

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    Last week's proposed rule aimed at broadening the Committee on Foreign Investment in the United States' enforcement authority over foreign investments and increasing penalties for violations signals that CFIUS intends to continue expanding its aggressive monitoring of national security issues, say attorneys at Kirkland.

  • 4 Ways AI Tools Can Improve Traditional Merger Analyses

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    Government officials at the American Bar Association's annual antitrust spring meeting last week reinforced the view that competition cases will increasingly rely on sophisticated data analysis, so companies will likewise need to use Big Tech quantitative techniques to improve traditional merger analyses, say Patrick Bajari, Gianmarco Calanchi and Tega Akati-Udi at Keystone.

  • Oracle Ruling Underscores Trend Of Mootness Fee Denials

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    The Delaware Chancery Court’s recent refusal to make tech giant Oracle shoulder $5 million of plaintiff shareholders' attorney fees illustrates a trend of courts raising the standard for granting the mootness fee awards once ubiquitous in post-merger derivative disputes, say attorneys at Troutman Pepper.

  • Blocked JetBlue-Spirit Deal Illustrates New Antitrust Approach

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    The U.S. Department of Justice’s recent successful block of a merger between JetBlue Airways and Spirit Airlines demonstrates antitrust enforcers’ updated and disparate approach to out-of-market benefits versus out-of-market harms, say Lisa Rumin and Anthony Ferrara at McDermott.

  • Comparing Corporate Law In Delaware, Texas And Nevada

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    With Elon Musk's recent decision to reincorporate his companies outside of Delaware, and with more businesses increasingly considering Nevada and Texas as corporate homes, attorneys at Baker Botts look at each jurisdiction's foundation of corporate law, and how the differences can make each more or less appealing based on a corporation's needs.

  • Practicing Law With Parkinson's Disease

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    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

  • Opinion

    Aviation Watch: Not All Airline Mergers Hurt The Public

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    The U.S. Department of Justice's actions to block recent attempted airline mergers have been touted as serving the interests of the consumers — but given the realities of the deregulated air travel market, a tie-up like the one proposed between JetBlue and Spirit might have been a win for the public, says Alan Hoffman, a retired attorney and aviation expert.

  • The Merger Cases That Will Matter At ABA Antitrust Meeting

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    While the American Bar Association's Antitrust Spring Meeting this week will cover all types of competition law issues in the U.S. and abroad, expect the federal agencies' recent track record in merger enforcement to be a key area of focus on the official panels and in cocktail party chatter, say attorneys at Freshfields.

  • Calif. Verdict Showcases SEC's New 'Shadow Trading' Theory

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    Last week's insider trading verdict, delivered against biopharmaceutical executive Matthew Panuwat by a California federal jury, signals open season on a new area of regulatory enforcement enabled by the U.S. Securities and Exchange Commission's shadow trading theory, say Perrie Weiner and Aaron Goodman at Baker McKenzie.

  • Climate Disclosure Mandates Demand A Big-Picture Approach

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    As carbon emissions disclosure requirements from the European Union, California and the U.S. Securities and Exchange Commission take effect, the best practice for companies is not targeted compliance with a given reporting regime, but rather a comprehensive approach to systems assessment and management, says David Smith at Manatt.

  • Series

    Playing Hockey Makes Me A Better Lawyer

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    Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.

  • Considerations For Evaluating IP Risks In Cannabis M&A

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    Due to the patchwork of state cannabis laws in the U.S., investors and businesses acquiring intellectual property must assess whether a trademark portfolio possesses any vulnerabilities, such as marks that are considered attractive to children or third-party claims of trademark infringement, say Mary Shapiro and Nicole Katsin at Evoke Law.

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