Mergers & Acquisitions

  • October 15, 2021

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen another Italian region in a lawsuit over derivatives contracts, the U.K.'s high-speed railway project facing a fresh legal challenge, and a British chain of discount retail stores suing Shoosmiths. Here, Law360 looks at those and other new claims in the U.K.

  • October 15, 2021

    Nimbus, Bristol-Myers Can't Sell Psoriasis Drug Amid Dispute

    A New York federal court is blocking the sale of a psoriasis treatment under development by Nimbus Therapeutics LLC until after a dispute plays out with Bristol-Myers Squibb Co. over purchase rights for the drug candidate.

  • October 15, 2021

    Don't Miss It: Saul Ewing, Cooley Guide Week's Hot Deals

    With so much mergers and acquisitions news this week, you may have missed several deals announced in the last several days helmed by firms such as Saul Ewing and Cooley. Here, Law360 recaps the ones you may have missed.

  • October 15, 2021

    UK Watchdog Probing Thermo Fisher's $21B PPD Deal

    The United Kingdom's Competition and Markets Authority announced on Friday that it's considering a probe of lab equipment company Thermo Fisher's $20.9 billion acquisition of pharmaceutical research organization PPD Inc.

  • October 15, 2021

    5 SPACs Hit Public Markets For $875M Total

    Five special-purpose acquisition vehicles, steered by nine law firms, went public Friday after raising $875 million combined in initial public offerings, aiming to target companies for mergers in industries including technology, health care and cannabis.

  • October 15, 2021

    3 Firms Construct SPAC Deal For $2.6B Philippines Casino

    The parent of Philippines-based casino and luxury resort Okada Manila will merge with a special-purpose acquisition vehicle in a transaction that features an enterprise value of $2.6 billion and was built by Baker McKenzie, Milbank and Schulte Roth, the companies said Friday.

  • October 15, 2021

    Australian Regulator Lets AusNet Mull $7.4B APA Bid

    Australian energy company AusNet Services will reopen talks about a potential AU$10 billion ($7.4 billion) takeover by APA Group after an Australian regulator ruled Friday that an exclusivity agreement the target had with a competing bidder will expire next week.

  • October 14, 2021

    6th Circ. Won't Pause Docs Bid As High Court Petition Awaits

    The Sixth Circuit has declined to stay an order obligating a U.S. subsidiary of German auto parts maker ZF Group to turn over information for a billion-dollar arbitration in Germany involving a Hong Kong electronics manufacturer, despite a pending petition before the U.S. Supreme Court.

  • October 14, 2021

    Dental Co. To Pay $63M To End Investors' Price-Fixing Suit

    Patterson Cos. Inc. has agreed to pay $63 million to end investors' class action in Minnesota federal court accusing the dental supply company of working with competitors to fix prices, according to the investors' unopposed bid for preliminary approval of the deal Thursday.

  • October 14, 2021

    3 Firms Pilot Tempo Automation's $919M SPAC Deal

    Software-driven electronics manufacturer Tempo Automation Inc. said Thursday it plans to go public with a $919 million equity value by combining with a special purpose acquisition vehicle, in a deal guided by Latham & Watkins, Skadden and Paul Hastings.

  • October 14, 2021

    Former Vegas Riviera Hotel Land Parcel Sold For $120M

    The Las Vegas Convention and Visitors Authority's board of directors said it has unanimously approved the $120 million sale of a prime 10-acre land parcel on the Strip to a Chilean casino resort operator, who has agreed to develop the property as a hotel or resort.

  • October 14, 2021

    3 Firms Guide Canopy Growth's $300M Deal For Wana Brands

    Canadian cannabis giant Canopy Growth Corp. and the owners of cannabis gummy maker Wana said Thursday they have struck an almost $300 million deal guided by three law firms that would allow Canopy Growth to acquire all of Wana's outstanding membership interests upon federal legalization of THC in the U.S.

  • October 14, 2021

    Deals Rumor Mill: GlaxoSmithKline, Kobalt, Hyphen Group

    Private equity firms are competing for GlaxoSmithKline’s £40 billion consumer business, KKR is nearing a deal for a roughly $1.1 billion stake in Kobalt Music Group, and Hyphen Group is on the verge of a $1 billion SPAC deal. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

  • October 14, 2021

    Cresco Labs Buys Pa. Cannabis Co. In $80M Deal

    Cannabis company Cresco Labs continued its 2021 buying spree, announcing on Thursday plans to snap up Pennsylvania medical marijuana operation Laurel Hill Labs in a transaction valued at $80 million.

  • October 14, 2021

    Holland & Knight Snags Ex-SEC Chief Risk Officer

    Holland & Knight LLP on Thursday announced the hire of a former top official at the Securities and Exchange Commission as a partner in its corporate, M&A and securities group.

  • October 14, 2021

    McDermott Continues Energy Hiring With Baker McKenzie Atty

    McDermott Will & Emery LLP continued snapping up lateral hires in the energy space with the recent addition of the former head of Baker McKenzie's North American energy transition practice.

  • October 14, 2021

    Chancery Rejects CytoDyn Dissidents' Late Board Slate Bid

    The Delaware Chancery court has denied a stockholder bid to force CytoDyn to include a slate of dissident board candidates in its upcoming election, saying the investors were playing "fast and loose" with the nomination process.

  • October 14, 2021

    3 Firms Drive Walgreens' $5.2B Deal For Control Of VillageMD

    Walgreens Boots Alliance will pay $5.2 billion to acquire a majority stake in Chicago-based primary care provider VillageMD, the companies said Thursday, in a transaction stitched together by Sidley, Weil and Latham.

  • October 13, 2021

    Jessica Simpson Can Bid For Control Of Her Fashion Line

    A Delaware federal bankruptcy judge has given pop star Jessica Simpson the green light to put in a bid in the hopes of controlling the clothing line that bears her name from bankrupt Sequential Brands Group Inc., according to an order issued Wednesday.

  • October 13, 2021

    Counsel In $1.8B Biotech Sale Suit Urged To Work Together

    Giving what he called "subtle, but not so subtle" advice, a Delaware vice chancellor on Wednesday urged counsel teams battling to lead stockholder litigation over the $1.8 billion sale of Emisphere Technologies Inc. to Novo Nordisk A/S to put aside differences and work together.

  • October 13, 2021

    Del. Justices Probe Unclear Terms In AstraZeneca Merger Pact

    Investors in a company developing a cutting-edge cancer therapy that AstraZeneca PLC bought in 2013 but never brought to market struggled to convince Delaware's Supreme Court on Wednesday that they deserved milestone payments for the drug's aborted development.

  • October 13, 2021

    3 Firms Rep $917M Merger Of PR Firms Finsbury, SVC

    Finsbury Glover Hering Corp. and Sard Verbinnen & Co. said Wednesday they will merge to create a new public relations firm with a $917 million equity value, in a deal steered by Cleary Gottlieb Steen & Hamilton LLP, Macfarlanes LLP and Kirkland & Ellis LLP.

  • October 13, 2021

    Bilzin Sumberg Adds Corporate Partner And Associate In Fla.

    Bilzin Sumberg Baena Price & Axelrod LLP announced the further expansion of its corporate practice group with the addition of a former TouchSuite counsel as an associate and a new partner arriving from Shutts & Bowen LLP.

  • October 13, 2021

    Pfizer Gives Gov't More Time To Study $2.3B Trillium Deal

    Pfizer Inc. has voluntarily provided the Federal Trade Commission an extra 30 days to review its planned $2.3 billion takeover of blood cancer drugmaker Trillium Therapeutics Inc. for antitrust issues.

  • October 13, 2021

    Gibson Dunn Defends Fee Bid In Landmark Theatres Suit

    Gibson Dunn & Crutcher LLP and Ross Aronstam & Moritz LLP countered accusations in a Delaware Chancery Court suit that they submitted problematic billing for a price adjustment dispute that followed the 2018 sale of Landmark Theatres.

Expert Analysis

  • Extension Of The HSR Waiting Period Increases Acquirer Risk

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    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

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    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.

  • Series

    Embracing ESG: Jabil GC Talks Compliance Preparation

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    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

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    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

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    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

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    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

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    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?

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    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

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    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

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    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.

  • Series

    Embracing ESG: Baker Hughes CLO Talks Sustainability Team

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    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

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    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

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    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

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    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

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    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.

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