Mergers & Acquisitions

Expert Analysis

• Extension Of The HSR Waiting Period Increases Acquirer Risk

  

  Attorneys at K&L Gates look at the Federal Trade Commission's recent extension of the merger-review waiting period under the Hart-Scott-Rodino Act, and its effect on pending transactions, broader public policy and the Biden-era M&A market.

• Girardi Scandal Provides Important Ethics Lessons

  

  The litigation and media maelstrom following allegations that famed plaintiffs attorney Thomas Girardi and his law firm misappropriated clients' funds provides myriad ethics and professional responsibility lessons for practitioners, especially with regard to misconduct reporting and liability insurance, says Elizabeth Tuttle Newman at Frankfurt Kurnit.

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  Embracing ESG: Jabil GC Talks Compliance Preparation

  

  Tried-and-true compliance lessons from recent decades can be applied to companies’ environmental, social and governance efforts, especially with regard to employee training and consistent application of policies — two factors that can create a foundation for ESG criteria to flourish, says Robert Katz at Jabil.

• Upshots Of Del. Holding On Appraisal Rights Waivers In M&A

  

  The Delaware Supreme Court's recent Manti v. Authentix holding offers key takeaways clarifying the enforceability of the dual approach of appraisal waivers and drag-along rights, to keep common stockholders in check in a merger or stock sale, while also framing the contexts in which these waivers might not be enforceable, say attorneys at Troutman Pepper.

• 3 Ways CLOs Can Drive ESG Efforts

  

  Chief legal officers are specially trained to see the legal industry's flaws, and they can leverage that perspective to push their companies toward effective environmental, social and governance engagement, says Mark Chandler at Stanford Law School.

• How Law Firms Can Rethink Offices In A Post-Pandemic World

  

  Based on their own firm's experiences, Kami Quinn and Adam Farra at Gilbert discuss strategies and unique legal industry considerations for law firms planning hybrid models of remote and in-office work in a post-COVID marketplace.

• Takeaways From The Latest Proposed Competition Legislation

  

  Maggie Crosswy and William MacLeod at Kelley Drye examine over 30 bills before the House and Senate that would alter the U.S. competition and consumer protection landscape, explaining what they propose, where they stand and why they matter.

• Will Kanter Transform Cartel Enforcement?

  

  The Biden administration is expected to take an assertive posture on cartel enforcement, but its agenda will hinge on Jonathan Kanter, its nominee to lead the U.S. Department of Justice's Antitrust Division, who is viewed as a transformational figure in antitrust policy as he heads to his Oct. 6 Senate confirmation hearing, say Richard Leveridge and Adam Farra at Gilbert.

• COVID-19 Offers Cautionary Tales On Hospitality Contracts

  

  Hotel owners should look closely at the agreements that govern hotel investment and operation to learn lessons from the pandemic and to protect against such vulnerability in the future with force majeure clauses and other provisions, say Anthony Cavanaugh and Jiah Park at Miles & Stockbridge.

• When Antitrust's Consumer Welfare Standard And ESG Collide

  

  The recent debate over antitrust law’s so-called consumer welfare standard means that — depending on how the principle is defined — company collaborations can be viewed as either pro- or anti-competitive, which is relevant for evaluating environmental, social and corporate governance agreements as climate issues take center stage in American and European policy, says Joshua Sherman at Charles River Associates.

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  Embracing ESG: Baker Hughes CLO Talks Sustainability Team

  

  For businesses focused on addressing environmental, social and governance considerations, a legal team that can coordinate sustainability efforts across the company can help to manage risk and compliance issues, anticipate and prepare for change, and identify new opportunities, says Regina Jones at Baker Hughes.

• What Mainstreaming Of Litigation Finance Means For Industry

  

  The rush of new capital and investors into the litigation funding space is expected to bring heightened competition on price and other key deal terms, but litigants will need to be more in tune with individual financiers' proclivities, says William Weisman at Therium Capital Management.

• Enviro Review Standard Tweaks May Clarify Cleanup Liability

  

  Forthcoming revisions to the standard for Phase I environmental site assessments will likely afford property owners and operators clearer protection from liability for hefty environmental cleanups, so interested parties in real estate and M&A deals should pay close attention, say Lorene Boudreau at Ballard Spahr and Mitchell Wiest and Sara Redding at Roux Associates.

• Shareholder Ruling Resolves Dual-Natured Claim Uncertainty

  

  The recent Delaware ruling in Brookfield v. Rosson, which eliminates the ambiguity surrounding so-called dual-natured direct and derivative claims, eases 15 years of tension around the doctrine and clears a path for corporate deal makers, say attorneys at MoFo.

• What 9th Circ. Privilege Test Means For Dual-Purpose Advice

  

  While the Ninth Circuit's recent ruling in In re: Grand Jury confirms that courts should use the primary-purpose test to determine whether communications with both legal and business purposes are shielded by the attorney-client privilege, questions on the application of the test remain, says Scott Tenley at Michelman & Robinson.