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Mergers & Acquisitions
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November 04, 2024
Asia-Pacific Helped Prop Up Q3 M&A Activity, Report Says
Mergers and acquisitions in the Asia-Pacific region hit numbers during the third quarter this year that haven't been seen since 2021's dealmaking heyday, helping to boost global figures amid mixed performances in the U.S. and Europe, S&P Global found in a recent report.
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November 04, 2024
Sports Collectibles Co. Sued For Books And Records
An early investor in a sports collectibles seller sued the company in Delaware's Chancery Court demanding access to its books and records, saying that its failure to comply with U.S. Securities and Exchange Commission reporting requirements in the wake of struggles following its 2023 acquisition "raises performance concerns."
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November 04, 2024
Vinson & Elkins Adds Simpson Thacher Atty As M&A Co-Head
Vinson & Elkins LLP has brought on a veteran mergers and acquisitions lawyer as a New York-based co-head of strategic M&A, the firm said Monday.
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November 04, 2024
Federal Trade Commission Atty Returns To Katten In DC
An attorney who spent more than a decade at the Federal Trade Commission has returned to private practice at Katten Muchin Rosenman LLP, where he began his legal career, boosting the firm's offerings for clients as they navigate increased antitrust scrutiny and enforcement.
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November 04, 2024
Bell Canada Paying $3.65B For US Internet Co. Ziply Fiber
Bell Canada has agreed to acquire U.S. internet provider Ziply Fiber for approximately CA$5 billion ($3.65 billion), Bell parent company BCE Inc. said Monday.
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November 04, 2024
Paul Hastings Adds NY Finance Atty From Winston & Strawn
Paul Hastings LLP announced Monday that it has added a leveraged finance lawyer from Winston & Strawn LLP as a partner in New York to strengthen its private equity and mergers and acquisitions platforms.
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November 04, 2024
4 Firms Guide $3.1B Take-Private Deal For Aviation Co. ATSG
Private equity firm Stonepeak, advised by Simpson Thacher & Bartlett LLP and Hogan Lovells, is buying Air Transport Services Group Inc., guided by Davis Polk & Wardwell LLP and Vorys Sater Seymour and Pease LLP, at an enterprise value of roughly $3.1 billion, the aviation company said Monday.
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November 04, 2024
US IPO Activity Hits Standstill As Election Takes Center Stage
U.S. initial public offerings have screeched to a halt amid peak election season, and dealmakers expect new listings to largely remain iced until next year as market participants sort out ramifications of Tuesday's presidential and congressional contests.
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November 04, 2024
Latham Guides Anglo American's $1.1B Coal JV Stake Sale
Anglo American PLC said Monday that it has agreed to sell its minority interest in an Australian coal mining joint venture to Zashvin Pty Ltd. for AU$1.6 billion ($1.1 billion) in a deal guided by Latham & Watkins LLP.
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November 04, 2024
Relief Therapeutics To Merge With US Biotech Renexxion
Switzerland's Relief Therapeutics Holding SA said Monday that it plans to merge with Renexxion Inc. in a move to bring the U.S. biotechnology company on to the Swiss stock exchange.
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November 01, 2024
Atty Suing Ex-Partner Asks Judges For 'Fairly Nominal' Bond
An attorney suing his ex-CEO over the breakup of their law firm has asked a Connecticut Superior Court judge to clear up two orders from different jurists by explaining how much bond he'll be required to post, saying a "fairly nominal" bond would ensure he keeps the case on track.
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November 01, 2024
Kroger Blasts 'Food Desert' Fears From Wash. Nonprofits
Kroger and Albertsons said the trial judge in Washington's bid to block a $24.6 billion merger should reject amicus briefs from two cities, a food bank and a poverty nonprofit, saying their assertions that the deal would inflate grocery prices and create food deserts in some communities rehash claims by activists and the media.
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November 01, 2024
2nd Circ. Won't Revive Warner Bros. Discovery Merger Suit
The Second Circuit refused Friday to resurrect a putative shareholder class action over the $43 billion tie-up that created Warner Bros. Discovery Inc., saying pre-merger documents adequately informed investors about streaming subscriber numbers and planned business strategies for the combined media giant.
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November 01, 2024
Newbury Street SPAC Returns To Market With $150M Offering
Special purpose acquisition company Newbury Street II Acquisition Corp. began trading Friday after raising a $150 million initial public offering, guided by three law firms, and marking the second Newbury Street vehicle to go public under similar management.
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November 01, 2024
Treasury Expands Foreign Land Transaction Authority
The U.S. Department of the Treasury announced Friday that it has added 59 new military installations to the list of those over which it has jurisdiction to review any nearby real estate transactions involving foreign citizens.
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November 01, 2024
Big Lots Says $760M Bid Wins In Ch. 11 Auction
Discount retailer Big Lots got approval from a Delaware bankruptcy judge to sell off nearly three-dozen store leases the day after it said it had received no offers to beat a $760 million bid for the business as a whole.
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November 01, 2024
Blockchain Coinvestors SPAC To Dissolve With No Biz Combo
Special purpose acquisition company Blockchain Coinvestors Acquisition Corp. I will dissolve and return investors their money after two failed merger attempts, the company has announced, marking the latest SPAC to close shop amid lean market conditions.
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November 01, 2024
CMA Raises Concerns Over GXO's £762M Logistics Deal
Britain's competition enforcer said Friday the completed £762 million ($950 million) takeover of supply-chain group Wincanton PLC by GXO Logistics Inc. could raise prices for businesses that rely on contract logistics providers to move goods around the country.
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November 01, 2024
ISS Advises Frontier Shareholders To Abstain On Verizon Vote
Proxy advisory firm Institutional Shareholder Services on Friday recommended that Frontier Communications shareholders abstain from voting on Verizon's planned $20 billion takeover, noting that there could be an advantage to waiting to see if the company can generate more value.
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November 01, 2024
Taxation With Representation: Kirkland, Davis Polk, Wachtell
In this week's Taxation with Representation, BC Partners sells its majority equity interest in GardaWorld, Lone Star Funds sells specialty chemicals company AOC to Nippon Paint Holdings, Crescent Biopharma takes GlycoMimetics private, and Francisco Partners buys AdvancedMD from Global Payments.
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November 01, 2024
Up To $755M Added To AZ Scuttled-Drug Damage Claim In Del.
A stockholder representative for former shareholders of biopharmaceutical company Syntimmune has proposed up to $755 million in additional damages after a Delaware vice chancellor found that an AstraZeneca PLC unit failed to reasonably pursue drug development milestones after acquiring Syntimmune in 2018.
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November 01, 2024
Stericycle Has All Approvals For $7.2B WM Sale
Medical waste company Stericycle said Friday that it has obtained all antitrust and foreign regulatory approvals needed to proceed with its $7.2 billion sale to Waste Management, a deal inked in June with guidance from three law firms.
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November 01, 2024
General Atlantic Leads $500M Funding Of AI-Focused Insider
Marketing platform Insider said Friday it has secured a $500 million Series E funding round led by global growth investor General Atlantic, which will help the company's marketing software offering and fuel AI-focused research and development.
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November 01, 2024
Pillar Aught, Kilpatrick Guide $127M Pa. Bank Merger
Pillar Aught and Kilpatrick Townsend & Stockton LLP are guiding a roughly $127 million all-stock merger of two Pennsylvania community banks, Mid Penn Bancorp Inc. and William Penn Bancorporation, the banks announced Friday.
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October 31, 2024
CVS Unit Exec's Ex-Partner Charged With Insider Trading
The former domestic partner of a top executive at Oak Street Health Inc., a primary care provider network owned by CVS Health Corp., was charged in Philadelphia federal court Thursday with insider trading on advance information about CVS' $10.6 billion deal to buy Oak Street in 2023.
Expert Analysis
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Replacing The Stigma Of Menopause With Law Firm Support
A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.
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Planning Law Firm Content Calendars: What, When, Where
During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.
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4 Steps To Address New Sanctions Time Bar Extension
Recent guidance from the Office of Foreign Assets Control clarifies details of the newly extended statute of limitations for civil and criminal enforcement of U.S. sanctions law, so compliance teams should implement key updates, including to lookback periods and recordkeeping policies, say attorneys at Freshfields.
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Series
Playing Golf Makes Me A Better Lawyer
Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.
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Law Firms Should Move From Reactive To Proactive Marketing
Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.
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Tips For Revamping Patent Portfolio Strategy In AI Deal Era
Recent data suggests patents are significantly enhancing exit valuations, particularly with cutting-edge technologies like those powered by artificial intelligence, but it is necessary to do more than simply align patent strategy with business goals, says Keegan Caldwell at Caldwell Law.
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Opinion
The Big Issues A BigLaw Associates' Union Could Address
A BigLaw associates’ union could address a number of issues that have the potential to meaningfully improve working conditions, diversity and attorney well-being — from restructured billable hour requirements to origination credit allocation, return-to-office mandates and more, says Tara Rhoades at The Sanity Plea.
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Opinion
It's Time For A BigLaw Associates' Union
As BigLaw faces a steady stream of criticism about its employment policies and practices, an associates union could effect real change — and it could start with law students organizing around opposition to recent recruiting trends, says Tara Rhoades at The Sanity Plea.
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How Justices Upended The Administrative Procedure Act
In its recent Loper Bright, Corner Post and Jarkesy decisions, the U.S. Supreme Court fundamentally changed the Administrative Procedure Act in ways that undermine Congress and the executive branch, shift power to the judiciary, curtail public and business input, and create great uncertainty, say Alene Taber and Beth Hummer at Hanson Bridgett.
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Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?
A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.
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Bank M&A Continues To Lag Amid Regulatory Ambiguity
Bank M&A activity in the first half of 2024 continued to be lower than in prior years, as the industry is recovering from the 2023 bank failures, and regulatory and macroeconomic conditions have not otherwise been prime for deals, say Robert Azarow and Amber Hay at Arnold & Porter.
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Series
Playing Dungeons & Dragons Makes Me A Better Lawyer
Playing Dungeons & Dragons – a tabletop role-playing game – helped pave the way for my legal career by providing me with foundational skills such as persuasion and team building, says Derrick Carman at Robins Kaplan.
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Del. Dispatch: Director Caremark Claims Need Extreme Facts
The Delaware Court of Chancery recently dismissed Caremark claims against the directors of Centene in Bricklayers Pension Fund of Western Pennsylvania v. Brinkley, indicating a high bar for a finding of the required element of bad faith for Caremark liability, and stressing the need to resist hindsight bias, say attorneys at Fried Frank.
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5 Insights Into FDIC's Final Rule On Big-Bank Resolution Plans
Although the Federal Deposit Insurance Corp.'s recently finalized rule expanding resolution planning requirements for large banks was generally adopted as proposed, it includes key changes related to filing deadlines, review and feedback, and incorporates lessons learned — particularly from last year's bank failures, say attorneys at Cleary.
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Opinion
Time To Reimagine The Novation Process For Gov't Contracts
The Federal Acquisition Regulatory Council, which recently extended a long-standing request for public comments on its novation procedures, should heed commenters' suggestions by implementing specific changes in its documentation requirements, thereby creating a more streamlined and practical novation process, say attorneys at Covington.