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Mergers & Acquisitions
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January 28, 2025
Beacon Roofing Nails Poison Pill To $11B Hostile Takeover Bid
Beacon Roofing Supply Inc. adopted a poison pill strategy on Tuesday, designed to thwart the $11 billion hostile takeover bid launched by tech and software company QXO Inc. the previous day.
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January 28, 2025
'Godfather' Of AG Defense Retiring From Cozen O'Connor
Bernard "Bernie" Nash, an attorney who pioneered the practice of defending companies against investigations by state attorneys general, is retiring from Cozen O'Connor and handing over the reins to his handpicked successors after nearly 50 years in private practice.
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January 28, 2025
Cravath, Ropes & Gray Guide $2.4B Connecticut Water Deal
Ropes & Gray LLP and Cravath Swaine & Moore LLP are leading a $2.4 billion deal that will see public energy company Eversource Energy sell subsidiary Aquarion Water Co., a public water supply and wastewater treatment company, to a unit of the state of Connecticut.
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January 28, 2025
Paul Hastings, Cravath Lead Smithfield's Reduced $522M IPO
Shares of pork producer Smithfield Foods Inc., which has spun off from China's WH Group, began trading Tuesday after the company priced a downsized $522 million initial public offering below its initial range, with Paul Hastings LLP advising Smithfield in the offering and Cravath Swaine & Moore LLP representing its underwriters.
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January 28, 2025
Chancery Bars More Disclosures In Sage-Biogen Fight
A Delaware vice chancellor on Tuesday prohibited Biogen Inc. and its human therapeutics product subsidiary from making public statements regarding a potential buyout of Sage Therapeutics Inc. after Sage sued for enforcement of a standstill provision in an earlier Biogen deal for Sage stock.
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January 28, 2025
4 Firms Look To Build $1B Sale Of Evergreen Theragnostics
Radiopharmaceutical-focused healthcare company Lantheus Holdings Inc. on Tuesday announced plans to buy Evergreen Theragnostics Inc. for up to $1 billion or more in a deal steered by four law firms.
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January 28, 2025
Trump Wants TikTok 'Bidding War' As Microsoft Enters Talks
President Donald Trump said that Microsoft is in discussions to purchase TikTok, stressing that a bidding war would be a "good thing" because that's how to get "the best deal."
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January 28, 2025
Mediobanca Rejects Monte Dei Paschi's €13.3B Bid
Italian investment bank Mediobanca SpA said Tuesday that it has rejected a €13.3 billion ($13.9 billion) takeover offer from Monte dei Paschi for being destructive to value for shareholders at both lenders.
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January 27, 2025
Zee Entertainment Hits Star India With Cricket Counterclaim
Indian media conglomerate Zee Entertainment has challenged joint venture Star India's $940 million damages claim over broadcasting rights for international cricket matches, denying all assertions made by the JV in proceedings initiated before the London Court of International Arbitration.
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January 27, 2025
Perella Weinberg Had $47M Motive To Ax Partners, Judge Told
Counsel for former partners of investment banking firm Perella Weinberg on Monday signaled to a New York state trial judge that the firm had a financial motive to fire them and pointed to emails calling one a "destructive influence."
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January 27, 2025
Party City Inks Deal To Sell IP, Assets In 2nd Ch. 11
Bankrupt retailer Party City has reached a stalking horse agreement to sell its brand name, other intellectual property and related operating assets to an affiliate of the pop culture merchandiser Ad Populum LLC, which owns the brand behind Chia Pet and is an owner of the entertainment complex at Elvis Presley's home Graceland.
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January 27, 2025
Twitter Investor Can't Recoup Stock Sale Loss, Musk Atty Says
An attorney for Elon Musk and Twitter successor X Corp. argued on Monday that seller's remorse prompted a former investor in the social media giant to launch an unsupportable, pro se lawsuit in Delaware's Court of Chancery to recover losses from his premature sale of the taken-private company's stock.
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January 27, 2025
Drone Co., Media Biz And Tire-Maker Announce SPAC Mergers
Three overseas companies spanning industries from drones to fashion media and tire manufacturing announced plans on Monday to go public in the U.S. by merging with special purpose acquisition companies in deals projected to exceed $1.1 billion in value, guided by at least eight law firms.
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January 27, 2025
'Guesswork' Dooms Class Cert. In Meta Privacy Antitrust Suit
A California federal judge has refused to certify a class of consumers who say Meta would have to pay users for their data if it didn't lie about privacy safeguards, finding that the motion was undone by the opinions of an economist who cannot get from general economics to market reality.
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January 27, 2025
QXO Goes Hostile With $11B Beacon Roofing Takeover Bid
QXO Inc. on Monday lobbed a hostile takeover bid at Beacon Roofing Supply Inc., which previously rejected its acquisition proposal, announcing plans to launch an all-cash tender offer to purchase Beacon's remaining outstanding shares in a roughly $11 billion deal.
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January 27, 2025
PureHealth Nabs Majority Stake In HHG In $2.3B Deal
Middle Eastern healthcare group PureHealth Holding PJSC on Monday announced plans to buy a majority stake in Freek and Cypriot healthcare provider Hellenic Healthcare Group in a deal that values HHG at $2.3 billion.
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January 27, 2025
Jimmie Johnson Takes Majority Stake In NASCAR Cup Team
Seven-time NASCAR champion Jimmie Johnson has become the majority owner in the Legacy Motor Club, a NASCAR Cup Series racing team, as part of a restructuring that includes a minority investment from Milbank-represented Knighthead Capital Management LLC, according to a Legacy MC statement Monday.
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January 27, 2025
Skadden Grows In Houston With V&E's Global M&A Co-Leader
Skadden Arps Slate Meagher & Flom LLP announced Monday that the former global co-head of Vinson & Elkins LLP's mergers and acquisitions and capital markets group has joined the firm in Houston, bolstering the firm's corporate and energy offerings.
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January 27, 2025
Mergers & Acquisitions Group Of The Year: Skadden
Skadden Arps Slate Meagher & Flom LLP shepherded clients through industry-defining 2024 deals, including Mars in its $35.9 billion acquisition of Kellanova and Ozempic's manufacturer in its acquisition by the investment arm of Novo Nordisk Foundation, securing the firm's spot in the 2024 Law360 Mergers & Acquisitions Groups of the Year.
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January 27, 2025
FTC Mired Startups, But Trump Brings Hope, Tech Group Says
Aggressive antitrust enforcement gave startups fewer exit opportunities as large companies like Google, Amazon and Apple pulled back on acquisitions, according to a Monday report from the Computer & Communications Industry Association, yet the trade group's chief economist is optimistic things will change under President Donald Trump.
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January 27, 2025
Davis Polk, Skadden Build Emerson's $7.2B AspenTech Buy
Global technology company Emerson, advised by Davis Polk & Wardwell LLP, on Monday announced plans to acquire the remaining shares of fellow software company AspenTech, whose special committee was led by Skadden Arps Slate Meagher & Flom LLP, that it does not already own in a $7.2 billion deal.
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January 27, 2025
Proskauer Brings On MoFo REIT Expert As M&A Partner In DC
Proskauer Rose LLP has added a former co-chair of Morrison Foerster LLP's real estate investment trust practice as a mergers and acquisitions partner in its Washington, D.C., office, the firm announced Monday.
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January 27, 2025
Ancora Seeks To Make US Steel 'Great Again' With New Board
Ancora Holdings Group on Monday said it plans to make U.S. Steel "great again" by installing a new CEO and board at the company "committed to abandoning" the $14.9 billion proposed merger with Nippon Steel that was blocked by former President Joe Biden earlier this month.
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January 27, 2025
Latham, Gibson Lead Diversified Energy's $1.3B Maverick Buy
U.S.-based Diversified Energy Partners PLC said Monday that it has agreed to acquire private oil and gas company Maverick from U.S. investment firm EIG for approximately $1.28 billion in a deal guided by Latham & Watkins LLP, Gibson Dunn & Crutcher LLP and Kirkland & Ellis LLP.
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January 24, 2025
Trump Media Says Presidential Shield Deflects Investors' Suit
President Donald Trump's social media company on Friday urged the Delaware Chancery Court to dismiss, or at least stay, a lawsuit brought by investors alleging that plans to take the platform public would cheat them out of their shares, arguing that a sitting president is shielded from civil litigation in state court.
Expert Analysis
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FTC Focus: What Access To Patent Settlements Would Mean
Settling parties should adopt a series of practice tips, including specifying rationales to support specific terms, as the Federal Trade Commission seeks to expand its access to settlements before the Patent Trial and Appeal Board, say Shannon McGowan and David Munkittrick at Proskauer.
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Why Attorneys Should Consider Community Leadership Roles
Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.
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9 Liability Management Tips As Debt Maturity Cliff Looms
As the debt maturity cliff swiftly approaches in this challenging environment, attorneys at Winston & Strawn highlight the top considerations for boards of directors and finance professionals to think about when structuring and executing liability management transactions, including reviewing capital structure, evaluating debt covenants, and more.
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Firms Must Offer A Trifecta Of Services In Post-Chevron World
After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.
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5 Tips To Succeed In A Master Of Laws Program And Beyond
As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.
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Series
Being An Opera Singer Made Me A Better Lawyer
My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.
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How Law Firms Can Avoid 'Collaboration Drag'
Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.
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Opinion
Litigation Funding Disclosure Key To Open, Impartial Process
Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.
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The Licensure Landscape For Psychedelics Manufacturers
As the need for bulk manufacturing of psychedelic substances grows, organizations aiming to support clinical trials or become commercial suppliers must navigate a rigorous and multifaceted journey to obtaining a license from the U.S. Drug Enforcement Administration, say Kimberly Chew at Husch Blackwell and Jaime Dwight at Promega Corp.
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What NFL Draft Picks Have In Common With Lateral Law Hires
Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.
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Foreign Threat Actors Pose Novel Risks To US Tech Cos.
A recent bulletin jointly issued by several U.S. intelligence agencies warns technology startups and the venture capital community about national security risks posed by foreign threat actors, so companies interested in raising foreign capital should watch for several red flags, say Robert Friedman and Jacob Marco at Holland & Knight.
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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.