Mergers & Acquisitions

  • November 25, 2020

    Pryor Cashman Guides SBE In $300M AccorHotels Takeover

    Pryor Cashman LLP has represented SBE Entertainment Group in AccorHotels' $300 million cash purchase of the hospitality company's remaining 50% interest, completing the Paris-based hotel giant's takeover that began with its 2018 purchase of a 50% stake in SBE's luxury hotel brands.

  • November 25, 2020

    2nd Circ. Revives Chinese Education Co. Investor Suit

    The Second Circuit revived a securities suit against China-based TAL Education Group on Wednesday after finding investors had sufficiently supported their claims that TAL secretly controlled two companies in which it had invested.

  • November 25, 2020

    EU Regulatory Plan Targets Big Pharma Competition, Mergers

    The European Commission on Wednesday adopted a plan to develop a regulatory framework by 2022 to increase access to cheap generic drugs by cracking down on anti-competitive behaviors by pharmaceutical companies across the European Union.

  • November 25, 2020

    UK Antitrust Dept. Claims Authority To Ban $360M Sabre Deal

    The U.K.'s competition watchdog told an appeal tribunal Wednesday that it had lawful discretion to determine the relevant travel services at issue when it blocked travel tech giant Sabre Corp.'s proposed $360 million takeover of rival Farelogix.

  • November 25, 2020

    Media, Energy-Focused SPACs Raise $561M In Market Debuts

    Two blank-check companies, one led by former Disney executives and the other backed by Apollo Global Management, started trading Wednesday after raising a combined $561 million in initial public offerings.

  • November 25, 2020

    Media Co. IAC Promotes Lead M&A Atty To General Counsel

    Media conglomerate IAC, which owns companies including The Daily Beast, Care.com and Vimeo, is promoting its lead mergers and acquisitions attorney to senior vice president and general counsel after she helped steer some of its largest transactions, the company said Tuesday. 

  • November 25, 2020

    PE Firm INNIO Sues GE Over Failed $3B Deal

    A private equity firm sued in London over its $3 billion purchase of a General Electric power unit has hit back with its own suit, accusing the conglomerate of making key omissions in financial statements used to evaluate the final price of the deal.  

  • November 25, 2020

    Intuit Will Ditch Credit Karma Tax Biz To Save $7.1B Deal

    Intuit will have to sell off Credit Karma's tax business to win the U.S. Department of Justice's blessing for its $7.1 billion acquisition of the credit reporting upstart, the agency revealed Wednesday.

  • November 25, 2020

    3 Firms Steer $2.2B Simon & Schuster Sale By ViacomCBS

    ViacomCBS Inc. has agreed to sell book publisher Simon & Schuster to Penguin Random House LLC for $2.175 billion, the companies said Wednesday, in a deal that is aimed at accelerating ViacomCBS' push into areas like streaming and was guided by Shearman & Sterling, Davis Polk and Arnold & Porter.

  • November 25, 2020

    Linklaters Steers £219M PE Bid For UK Motor Insurer

    Motor insurer AA PLC said on Wednesday that it has accepted a £219 million ($290 million) takeover bid by two private equity companies in a deal that will result in more money being invested in the struggling company.

  • November 24, 2020

    4 Firms Steer TransDigm's $965M Deal For Aerospace Biz

    Aerospace company TransDigm said Tuesday it will buy U.K.-based antenna and radio business Cobham Aero Connectivity in a roughly $965 million deal steered by BakerHostetler, Reed Smith, Jones Day and Weil Gotshal.

  • November 24, 2020

    10 Firms Steer Pot SPAC's $1.2B Deal With Jay-Z

    The biggest blank check company in cannabis on Tuesday created a marijuana powerhouse valued at nearly $1.2 billion and featuring rapper Jay-Z as its leading visionary, in a deal steered by 10 firms including Paul Hastings LLP, Cooley LLP and Reed Smith LLP.

  • November 24, 2020

    Networks Say Looser Ownership Rules Could Save Broadcast

    The U.S. Supreme Court must not seal a bleak future for TV networks by maintaining Federal Communications Commission ownership restrictions that prevent local stations from combining, major broadcasters wrote in amicus briefs filed Monday.

  • November 24, 2020

    Eversheds Sutherland Adds M&A Partner To Chicago Office

    Eversheds Sutherland has announced the hiring of a mergers and acquisitions attorney with an international practice as the sixth partner to join the firm's Chicago office since it planted a flag in the Windy City.

  • November 24, 2020

    K&L Gates, Simpson Guide First Reserve's $194M Energy Deal

    Electrical transmission and distribution company The Goldfield Corp. said Tuesday it will be acquired by private equity firm First Reserve at a $194 million enterprise value, in a deal guided by Simpson Thacher & Bartlett LLP and K&L Gates LLP.

  • November 24, 2020

    Sabre Appeals UK's Block On $360M Farelogix Deal

    Travel tech giant Sabre Corp. urged a U.K. tribunal Tuesday to quash a decision by the country's competition watchdog blocking its proposed $360 million takeover of rival Farelogix, saying the antitrust agency didn't establish it has the jurisdiction to exercise such control over the U.S. companies.

  • November 24, 2020

    Dechert Steers $15B Tie-Up Of FS KKR Biz Development Cos.

    Business development companies FS KKR Capital Corp. and FS KKR Capital Corp. II said Tuesday they plan to merge into a single entity with about $14.9 billion in assets under management, a deal arranged with help from Dechert LLP.

  • November 24, 2020

    Entra Rejects $3.34B Takeover Offer, Mulling Alternate Bid

    Norwegian office property manager Entra has rejected a takeover offer from Swedish real estate firm SBB worth 30 billion Norwegian crowns ($3.34 billion), saying it is instead considering a separate takeover offer made by an undisclosed bidder.

  • November 24, 2020

    McCormick Swallows Cholula Hot Sauce In $800M Deal

    U.S. spice giant McCormick & Co., counseled by Cleary Gottlieb, has agreed to swallow Cholula Hot Sauce from Kirkland & Ellis-advised private equity firm L Catterton for $800 million, the companies said Tuesday.

  • November 23, 2020

    SPAC Links Up With 2 Cos. To Form $1.35B Telehealth Giant

    A special purpose acquisition company launched by serial blank check company creator GigCapital Global unveiled plans Monday to merge with digital health care provider UpHealth and telemedicine solutions provider Cloudbreak to forge a publicly traded telehealth business with an enterprise value of $1.35 billion, in a deal guided by DLA Piper, Husch Blackwell and Sidley Austin.

  • November 23, 2020

    Publisher Says Fox Rothschild Violated Legal Ethics

    The publisher of Business Insurance has asked a New York federal judge to sanction Fox Rothschild LLP, alleging the firm violated professional legal ethics in trying to represent the publisher in one action while simultaneously suing it in another on behalf of the publication's former CEO.

  • November 23, 2020

    Shipbuilder Says Kinder Morgan Owes Asbestos Coverage

    Shipbuilding giant Huntington Ingalls Inc. has demanded Kinder Morgan provide insurance coverage for millions of dollars worth of asbestos-injury claims, telling a Virginia federal court that the energy company inherited the risk by buying Huntington's former parent company.

  • November 23, 2020

    DOJ Says Visa Pushing 'Infeasible' Merger Trial Timeline

    The U.S. Department of Justice has blasted Visa and Plaid for pushing an "infeasible" timeline for a trial over their proposed $5.3 billion tie-up that is seven months sooner than the agency's preferred September start date.

  • November 23, 2020

    Chancery Nixes Metals Co. Dispute Revived By Del. Justices

    The Delaware Chancery Court has dismissed a dispute that the state's Supreme Court had revived in January over the ownership and debts of a Pennsylvania metals company, finding the suing European investors had failed to join part of the company's prior ownership, and likely couldn't bring them into the case because of their international citizenship.

  • November 23, 2020

    Landlord On Hook For NY Sports Club Tanning Center Lease

    A Manhattan landlord lost a bankruptcy court fight in Delaware Monday over claims that it got burned when a tanning salon licensed to use space in a Town Sports International site in Manhattan was left behind in a Chapter 11 lease rejection move by the gym chain.

Expert Analysis

  • Ethics Reminders As Employees Move To Or From Gov't

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    Many organizations are making plans for executives to go into government jobs, or for government officials to join a private sector team, but they must understand the many ethics rules that can put a damper on just how valuable the former employee or new hire can be, say Scott Thomas and Jennifer Carrier at Blank Rome.

  • Del. Solera D&O Decision May Have Limited Impact

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    While the Delaware Supreme Court's recent decision in Solera is a blow for companies in the state seeking protection for certain key appraisal proceedings, the ruling hinges on the insurers' narrow definition of a violation that will trigger directors and officers coverage for securities-related claims, making it unlikely that other jurisdictions will follow suit, say attorneys at Hunton.

  • A Key To Helping Clients Make Better Decisions During Crisis

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    As the pandemic brings a variety of legal stresses for businesses, lawyers must understand the emotional dynamic of a crisis and the particular energy it produces to effectively fulfill their role as advisers, say Meredith Parfet and Aaron Solomon at Ravenyard Group.

  • Expect Major Changes In Aerospace And Defense Under Biden

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    President-elect Joe Biden is expected to significantly shift aerospace and defense industry priorities, revoke certain Trump administration government contractor policies, strengthen "Buy American" requirements, and increase use of defense and NASA budgetary authority to combat climate change, say attorneys at Hogan Lovells.

  • DOJ's Visa-Plaid Challenge Shows Email Can Imperil A Deal

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    The U.S. Department of Justice used a trove of internal Visa email and other communications to show how the $5.3 billion Plaid merger might limit competition — providing a cautionary tale of how internal documents can endanger a transaction that shows few antitrust concerns on the surface, says Tammy Zhu at Medallia.

  • Ethics Considerations For Law Firms Implementing AI

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    Richard Finkelman and Yihua Astle at Berkeley Research Group discuss the ethical and bias concerns law firms must address when implementing artificial intelligence-powered applications for recruiting, conflict identification and client counseling.

  • Picking The Right Location And Tools For Virtual Courtrooms

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    Attorneys should consider the pros and cons of participating in virtual court proceedings from home versus their law firm offices, and whether they have the right audio, video and team communication tools for their particular setup, say attorneys at Arnold & Porter.

  • Beware Atty Ethics Rules When Reporting COVID-19 Fraud

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    Attorneys considering blowing the whistle on False Claims Act violations by recipients of COVID-19 relief may face a number of ethical constraints on their ability to disclose client information and file qui tam actions, say Breon Peace and Jennifer Kennedy Park at Cleary.

  • Looking For Judicial Activists? Check The Footnotes

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    U.S. Supreme Court nominees typically face intense questioning over potential judicial activism, but a better way to gauge judges' activist tendencies may be to look at the footnotes in their opinions, say Christopher Collier at Hawkins Parnell and Michael Arndt at Rohan Law.

  • Best Practices For Legal Technology Adoption

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    The pandemic has accelerated the need to improve the practice of law through technology, but law firms and in-house legal departments must first ensure they have employee buy-in and well-defined processes for new digital tools, say Dan Broderick at BlackBoiler and Daryl Shetterly at Orrick.

  • Valuation Uncertainty Could Prompt Increased Litigation

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    The COVID-19 pandemic has increased volatility around forward-looking cash flows and discount rates, which may lead to more business valuation disputes, particularly in the M&A and bankruptcy litigation contexts, say analysts at Cornerstone Research.

  • The Pandemic's Long-Term Impact On Law Firm Operations

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    Brian Burlant at Major Lindsey looks at how pandemic-era remote work has changed the way law firms operate — from shifts in secretarial functions to associate professional development — and explains why some alterations may be here to stay.

  • Opinion

    Lack Of Access To Remote Court Proceedings Is Inexcusable

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    Blanket rules that bar recording or dissemination of remote public court proceedings impede presumptive common law and First Amendment right of access, greatly expand courts' powers over nonparties, and likely run afoul of U.S. Supreme Court precedent, says Matthew Schafer at ViacomCBS.

  • Opinion

    Why Attacks On Trump's Election Lawyers Are Problematic

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    The vilification of Jones Day and Porter Wright for their involvement in President Donald Trump's election lawsuits is an attack on lawyers' duty to advocate for their clients' causes fearlessly and zealously within the bounds of the law, says Pierce O'Donnell at Greenberg Glusker.

  • M&A Poised For Growth In The Biden Era

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    The M&A market is well positioned for recovery and growth under a Biden administration and divided Congress, which will likely gain control over the coronavirus pandemic, pass a stimulus package, and provide greater transparency in antitrust enforcement, say attorneys at Debevoise.

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