Mergers & Acquisitions

  • 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.

  • August 21, 2024

    Holland & Knight Lands McDermott Corporate Pro In Miami

    Holland & Knight LLP announced Wednesday a new partner for its corporate, mergers and acquisitions and securities practice group in Miami from McDermott Will & Emery LLP.

  • August 21, 2024

    3 Firms Guide $950M Delaware Basin Gas Treatment Deal

    Houston-based energy providerEnterprise  Partners LP has agreed to purchase Pinon Midstream, a natural gas treatment company focused on the Delaware Basin, for $950 million in cash, the companies said Wednesday.

  • August 21, 2024

    Zomato Inks $244M Deal For Paytm Entertainment Tickets Biz

    Indian food delivery giant Zomato on Wednesday announced it has bought the entertainment ticketing business of e-commerce payment company Paytm in a $244.1 million deal it hopes will grow its "going out" offerings.

  • August 21, 2024

    Willkie Adds 5 Partners In Chicago From Mayer Brown

    Willkie Farr & Gallagher LLP announced Wednesday that it has added a corporate team of five partners and six associates in Chicago from Mayer Brown LLP to strengthen its capital markets and strategic mergers and acquisitions capabilities.

Expert Analysis

  • Healthcare Collabs Can Alleviate Labor, Antitrust Challenges

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    Two major challenges facing hospitals and health systems include labor shortages and increased antitrust scrutiny at both federal and state levels, but collaborative efforts may help with addressing these difficulties, says Sumaya Noush at McDermott.

  • Reimagining Law Firm Culture To Break The Cycle Of Burnout

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    While attorney burnout remains a perennial issue in the legal profession, shifting post-pandemic expectations mean that law firms must adapt their office cultures to retain talent, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • Assessing Merger Guideline Feedback With Machine Learning

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    Large language modeling appears to show that public sentiment matches agency intent around the new merger control guidelines from the Federal Trade Commission and U.S. Justice Department, says Andrew Sfekas at Cornerstone Research.

  • Series

    Competing In Dressage Makes Me A Better Lawyer

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    My lifelong participation in the sport of dressage — often called ballet on horses — has proven that several skills developed through training and competition are transferable to legal work, especially the ability to harness focus, persistence and versatility when negotiating a deal, says Stephanie Coco at V&E.

  • What Cos. Evaluating M&A Can Glean From Latest HSR Report

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    The recently released Hart-Scott-Rodino report for fiscal year 2022 helps unearth important data points for companies as they evaluate potential transactions, including that, despite a historically low enforcement rate, the number of actions exceeds the number of second requests for the first time in nearly 20 years, say Ryan Quillian and John Kendrick at Covington.

  • Ch. 11 Ruling Highlights 'Two-Step' Challenges In 4th Circ.

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    A North Carolina bankruptcy court’s recent ruling in Bestwall’s Chapter 11 case, and the decision's interpretation of Fourth Circuit law, suggests that, compared to other circuits, it may be more difficult to dismiss so-called Texas Two-Step bankruptcy cases within the Fourth Circuit, say Brittany Falabella and Kollin Bender at Hirschler Fleischer.

  • Chancery's Sears Ruling Clarifies Stockholder Duties

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    In a recent landmark decision involving stockholders of Sears Hometown and Outlet Stores, the Delaware Chancery Court addressed for the first time what precise duties a controlling stockholder owes, highlighting that controller interference with board action is not per se invalid and that enhanced scrutiny is a reasonableness test, say Christopher Chuff and Taylor Bartholomew at Troutman Pepper.

  • The Legal Industry Needs A Cybersecurity Paradigm Shift

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    As law firms face ever-increasing risks of cyberattacks and ransomware incidents, the legal industry must implement robust cybersecurity measures and privacy-centric practices to preserve attorney-client privilege, safeguard client trust and uphold the profession’s integrity, says Ryan Paterson at Unplugged.

  • 5 Reasons Associates Shouldn't Take A Job Just For Money

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    As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.

  • How Biotech Deals May Help Competition, Despite FTC View

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    The Federal Trade Commission's complaint against Sanofi's proposed partnership with Maze Therapeutics highlights increasing skepticism of so-called killer acquisitions, but a closer look reveals potentially legitimate reasons behind why entities might decide to delay or abandon the development of acquired products, say consultants at Analysis Group.

  • Series

    Playing Competitive Tennis Makes Me A Better Lawyer

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    My experience playing competitive tennis has highlighted why prioritizing exercise and stress relief, maintaining perspective under pressure, and supporting colleagues in pursuit of a common goal are all key aspects of championing a successful legal career, says Madhumita Datta at Lowenstein Sandler.

  • Series

    The Pop Culture Docket: Judge Djerassi On Super Bowl 52

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    Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.

  • Reverse Merger Tips For Biotechs After SEC's Recent Actions

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    Several recent U.S. Securities and Exchange Commission developments could limit the viability of reverse mergers for biotech companies, and will require additional creativity and analysis for private companies looking to go public, say attorneys at Orrick.

  • What R&W Insurance Access Means For Small-Cap M&A

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    As a slowdown in mergers and acquisitions has increased insurer appetite for underwriting small-cap transactions, buyers of small and midsize enterprises stand to benefit from easier access to representations and warranties insurance, which can add protection and reassurance for all parties involved in a deal, say Caroline Thee and Ewelina Mikocewicz at Taft Stettinius.

  • Del. Dispatch: Efforts Clause Trumps Contractual Right

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    The Delaware Court of Chancery's Chordia v. Lee ruling this month — that the efforts clause set forth in a stockholders' agreement overrode the acquired company's right to fire its officers and employees — highlights key considerations for parties in such agreements to avoid post-acquisition disputes, say attorneys at Fried Frank.

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