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Mergers & Acquisitions
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February 04, 2025
Fortis Says $440M 3D Printing Fraud Suit Can Proceed
Fortis Advisors LLC is urging a California federal court not to pause its $440 million fraud suit against Israeli-American 3D printer manufacturer Stratasys Ltd. as the two arbitrate related claims over allegedly miscalculated earn-out payments, saying the litigation must proceed now.
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February 04, 2025
Del. Justices Nix Fairness Ruling In TripAdvisor Nevada Move
Citing in part aversion to "speculative litigation," Delaware's Supreme Court on Tuesday reversed a ruling that kept in play potential stockholder damage claims in connection with the proposed reincorporation in Nevada of TripAdvisor and its parent, finding that business judgment deference should govern the court challenge.
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February 04, 2025
Liberated Brands Gets OK To Tap $25M In Ch. 11 Financing
A Delaware bankruptcy judge on Tuesday agreed to give interim approval for outdoors and athletic clothing retailer Liberated Brands LLC to access $25 million of its $35 million debtor-in-possession financing.
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February 04, 2025
Sen. Mike Lee To Head Antitrust Subcommittee
Sen. Mike Lee, R-Utah, a frequent critic of the Federal Trade Commission, will serve as chairman of the Senate subcommittee on antitrust and consumer protection issues, with Sen. Corey Booker, D-N.J., taking over the ranking member role.
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February 04, 2025
Axon Gets Cities' Antitrust Case Largely Tossed
A New Jersey federal judge dismissed the bulk of a class action brought by local governments accusing Axon of monopolizing the Taser and body camera markets, ending claims related to the Taser market but allowing claims that Axon has maintained a monopoly in the body-worn camera market to continue on.
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February 04, 2025
McKesson Paying $850M For Top Stake In Eye Health Co.
Irving, Texas, healthcare services company McKesson Corp. said Tuesday it had agreed to buy a controlling interest in PRISM Vision, an ophthalmology services provider, from private equity firm Quad-C for $850 million.
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February 04, 2025
PE-Backed Identity Software Firm SailPoint Primes $1B IPO
Cybersecurity firm SailPoint on Tuesday unveiled plans for an estimated $1 billion initial public offering that would mark its return to public markets three years after a private-equity buyout, represented by Kirkland & Ellis LLP and the underwriters' counsel, Davis Polk & Wardwell LLP.
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February 04, 2025
'Is This A Joke?' Judge Denies Atty Fees For Grocery Patrons
A California federal judge had so little tolerance for shoppers claiming victory and seeking attorney fees from the abandoned Kroger-Albertsons merger that in tossing their motion and underlying lawsuit he noted with incredulity, "Plaintiffs are actually making these arguments."
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February 04, 2025
3rd Circ. Urged To Nix Tax On $191M In Family Pharma Feud
A pharmaceutical company's $191 million payment settling a family feud over shares of the business did not include imputed interest triggering higher taxes as the U.S. government claims, a trust for family members who received the money told the Third Circuit.
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February 04, 2025
KKR Raises Fuji Soft Offer In Blazing Battle With Bain
A contentious bidding battle between KKR and Bain Capital intensified Tuesday as the buyout firms continued their fight to take control of Japan's Fuji Soft, with KKR disclosing it has once again raised its tender offer price.
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February 04, 2025
Judge Rejects Blink Fitness Ch. 11 Plan Exculpations
A Delaware bankruptcy judge Tuesday rejected Blink Fitness' request to shield the administrator of its Chapter 11 wind-down plan from legal liability, saying she can't release claims for future acts.
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February 04, 2025
Mintz Adds Dentons West Coast Corporate Head In San Diego
Mintz Levin Cohn Ferris Glovsky and Popeo PC continues growing its corporate team, announcing Monday it is bringing in a Dentons emerging companies and venture capital specialist as a member of its San Diego office.
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February 04, 2025
Javice's Texts About Elizabeth Holmes Not Fair Game For Trial
Frank founder Charlie Javice's sympathetic texts about healthcare-sector fraudster Elizabeth Holmes won't be seen by the jury hearing charges that the education startup executive faked data to dupe JPMorgan into a $175 million acquisition, a Manhattan federal judge said Tuesday.
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February 04, 2025
Verdane Gets Extension To Firm Up £315M Team Internet Offer
The U.K. mergers and acquisitions watchdog has given Swedish investment manager Verdane more time to make a firm £315 million ($391 million) offer for Team Internet Group PLC, the British software company said on Tuesday.
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February 03, 2025
Del. Justices Uphold $10.4B Anaplan Inc.'s Thoma Bravo Sale
Agreeing that a fully informed "Corwin cleansing" vote washed away stockholder objections to a post-signing $400 million trimming of a $10.7 billion deal, Delaware's Supreme Court on Monday dismissed a challenge to Thoma Bravo's acquisition of software-as-a-service company Anaplan Inc. in June 2022.
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February 03, 2025
CFIUS Head Under Biden To Join Latham
The former head of the Committee on Foreign Investment in the United States under former President Joe Biden will join Latham & Watkins LLP next month, the firm said in an announcement on Monday.
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February 03, 2025
US Steel, Nippon Say Election Politics Blocked $14.9B Deal
Japan's Nippon Steel Corp. and U.S. Steel Corp. on Monday filed their opening brief in a suit against former President Joe Biden and the Committee on Foreign Investment in the United States over a blocked $14.9 billion mega-merger, alleging the deal was blocked purely due to election-year politics and not national security as claimed.
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February 03, 2025
PetroQuest Gets OK For $20.6M Texas Oilfield Sale
A Delaware bankruptcy judge on Monday approved the $20.6 million sale of PetroQuest Energy's East Texas oilfields, more than two years after a failed attempt to sell those fields sparked a lawsuit that helped land the company in Chapter 11.
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February 03, 2025
ADNOC, OMV Merger Talks Move Ahead In 'Positive Manner'
The Abu Dhabi National Oil Co. says talks with Austria's OMV to create a new global polyolefins group, potentially valued around $30 billion, are proceeding "in a constructive and positive manner."
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February 03, 2025
Hyatt Extends Talks About Possible Playa Hotels Buy
Playa Hotels & Resorts NV and Hyatt Hotels Corp. announced Monday that the two companies are still in talks about a potential acquisition, noting that the duo have extended an exclusivity agreement to Feb. 10.
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February 03, 2025
Liberated Brands Files Ch. 11 After Losing Clothing Licenses
Liberated Brands LLC, a retail company that sells clothes for brands like Volcom, RVCA and Billabong, filed for bankruptcy in Delaware with $226 million in debt to wind down and sell its operations after a retail lull pinched its liquidity and led a third-party brand owner to pull out of key license agreements.
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February 03, 2025
3 Firms Advise On $3B Triumph Group Go-Private Agreement
Pennsylvania-based Triumph Group said Monday it has agreed to be taken private by affiliates of Berkshire Partners and Warburg Pincus, exciting investors as the aircraft component maker's stock jumped more than 34% in morning trading.
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February 03, 2025
L'Oreal Sells €3B Sanofi Stake Back To French Pharma Co.
Cosmetics giant L'Oreal SA said Monday that it is selling a €3 billion ($3.1 billion) stake in Sanofi back to the French drugmaker, cashing in part of its holding after Sanofi's shares outperformed the market over the past year.
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January 31, 2025
Pause UScellular Deal During False Claims Case, Attys Say
Two communications attorneys have urged the Federal Communications Commission to reject the $4.4 billion transfer of UScellular spectrum licenses to T-Mobile, at least until their False Claims Act dispute with the company can be resolved in the D.C. Circuit.
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January 31, 2025
January's IPO Market Was Active Despite Tepid Debuts
Capital markets lawyers kept busy in January thanks to a sizable increase in initial public offerings, but the largest IPOs performed weaker than expected, likely sobering market participants' expectations going forward.
Editor's Picks
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UK Enforcers Say Cargo Equipment Deal Raises Concerns
The planned merger of Finnish cargo handling equipment outfits Cargotec Corp. and Konecranes PLC faces increasing scrutiny across the globe, as U.K. enforcers raised concerns about competition for a number of different products for port services.
Expert Analysis
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Losing A Motion To Dismiss Ruling Isn't Necessarily The End
A recent Delaware Court of Chancery ruling, that the Manti Group had not demonstrated any conflicts of interest favoring private equity fund operator The Carlyle Group, serves as an important reminder that a decision on a pleading motion is not the end of the story, say attorneys at Sidley.
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Imagine The Possibilities Of Openly Autistic Lawyering
Andi Mazingo at Lumen Law, who was diagnosed with autism about midway through her career, discusses how the legal profession can create inclusive workplaces that empower openly autistic lawyers and enhance innovation, and how neurodivergent attorneys can navigate the challenges and opportunities that come with disclosing one’s diagnosis.
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Top 10 Healthcare And Life Sciences Issues To Watch In 2025
Under the new Trump administration, this coming year may benefit some healthcare and life sciences stakeholders, while creating new challenges for others amid an increasingly complex regulatory environment, say attorneys at Debevoise.
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Series
Documentary Filmmaking Makes Me A Better Lawyer
Becoming a documentary filmmaker has allowed me to merge my legal expertise with my passion for storytelling, and has helped me to hone negotiation, critical thinking and problem-solving skills that are important to both endeavors, says Robert Darwell at Sheppard Mullin.
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Litigation Funding Disclosure Debate: Strategy Considerations
In the ongoing debate over whether courts should require disclosure of litigation funding, funders and plaintiffs tend to argue against such mandates, but voluntarily disclosing limited details about a funding arrangement can actually confer certain benefits to plaintiffs in some scenarios, say Andrew Stulce and Marc Cavan at Longford Capital.
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Top Considerations For Insurance Companies In 2025
As insurance industry participants look to plan for the year, regulatory changes, climate-related challenges, the ongoing effects of social inflation and the potential for significant mergers and acquisitions will be among the key items for insurer boards and management to have on their radar, say attorneys at Debevoise.
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Del. Dispatch: Lessons From Failed Albertsons-Kroger Merger
The allegations in Albertsons' lawsuit against Kroger following the grocery stores' blocked merger demonstrate how a target company can best ensure that a buyer timely and effectively complies with its obligations to pursue the necessary regulatory approvals for a deal, say attorneys at Fried Frank.
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Series
Adventure Photography Makes Me A Better Lawyer
Photographing nature everywhere from Siberia to Cuba and Iceland to Rwanda provides me with a constant reminder to refresh, refocus and rethink the legal issues that my clients face, says Richard Birmingham at Davis Wright.
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How Views On Healthcare Price Transparency Are Changing
Regulators' attitudes toward price transparency regulation have shifted over the past several years in ways that may seem contradictory, and research into detailed rate information published by hospitals and health plans has yielded mixed results, says Matthew List at Charles River Associates.
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The 5 Most Important Bid Protest Decisions Of 2024
The U.S. Court of Appeals for the Federal Circuit, the Court of Federal Claims and the Government Accountability Office issued five noteworthy bid protest decisions in 2024 that will likely have a continuing impact on questions concerning standing, timeliness, corporate transactions and more, say attorneys at Bradley Arant.
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5 Ways To Create Effective Mock Assignments For Associates
In order to effectively develop associates’ critical thinking skills, firms should design mock assignments that contain a few key ingredients, from messy fact patterns to actionable feedback, says Abdi Shayesteh at AltaClaro.
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Overseas Investment Rule Calls For Compliance Caution
Investors should be leery of who and what they are investing in now that the federal outbound investment regime, effective Jan. 2, has extended the governement's regulatory reach to businesses and parties not previously subject to trade restrictions, says Thaddeus McBride at Bass Berry.
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Recent Suits Show Antitrust Agencies' Focus On HSR Review
The U.S. Department of Justice's suit this month against KKR for inaccurate and incomplete premerger filings, along with other recent cases, highlights the agency's increasing scrutiny of Hart-Scott-Rodino Act compliance for private equity firms, say attorneys at Willkie.
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The 7th Circ.'s Top 10 Civil Opinions Of 2024
Attorneys at Jenner & Block examine the most significant decisions issued by the Seventh Circuit in 2024, and explain how they may affect issues related to mass arbitration, consumer fraud, class certification and more.
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Mentorship Resolutions For The New Year
Attorneys tend to focus on personal achievements or career milestones when they set yearly goals, but one important area often gets overlooked in this process — mentoring relationships, which are some of the most effective tools for professional growth, say Kelly Galligan at Rutan & Tucker and Andra Greene at Phillips ADR.