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Mergers & Acquisitions
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September 17, 2025
Sky-High AI Valuations Are Reshaping Dealmaking Playbook
The latest financing for Anthropic underscores how difficult it has become to dismiss sky-high valuations backing AI as froth, and shows how such numbers could reshape acquisition and exit strategies while exposing investors to heightened legal and financial risks.
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September 17, 2025
Yale Health System Settles $435M Hospital Sale Suit
Yale New Haven Health Services Corp., Connecticut's largest hospital system, has reached a settlement in principle with bankrupt Prospect Medical Holdings Inc. that would resolve a $435 million contract dispute over the sale of several hospitals in the state.
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September 17, 2025
Skadden, Latham Guide $1.6B Paramount Real Estate Deal
Real estate investment trust Paramount Group will be sold to asset manager Rithm Capital Corp. for about $1.6 billion, with Skadden Arps Slate Meagher & Flom LLP advising Rithm and Latham & Watkins LLP representing Paramount, the companies said Sept. 17.
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September 16, 2025
Alamos Gold Ends $1B Turkey Dispute With $470M Deal
Canadian mining company Alamos Gold has agreed to end its $1 billion claim against Turkey after the country nixed its permit for a lucrative gold mining project, once a deal to sell its Turkish subsidiary to a unit of Turkish conglomerate Nurol Holding is completed.
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September 16, 2025
FTC Ends Director Overlap In Healthcare Space
The Federal Trade Commission said three members of Sevita Health's board of directors resigned after enforcers flagged an overlap with the board of a competing provider of specialty healthcare for people with intellectual and developmental disabilities.
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September 16, 2025
Latham, Cooley Lead Ticket Sales Giant StubHub's $800M IPO
StubHub, an online ticket reseller backed by private equity and venture capital firms, is set to hit the public markets Wednesday after pricing an $800 million initial public offering within its targeted range.
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September 16, 2025
Avalara Investors' Claims Pass Muster After 9th Circ. Revival
A Washington federal judge has allowed a proposed class action to proceed accusing tax software company Avalara Inc. of misleading investors ahead of an $8.4 billion deal to take the company private, but said the suit failed to adequately allege negligence by individual board members, giving investors one week to amend those claims.
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September 16, 2025
BlackRock Blames Coal Production Cuts On Falling Demand
BlackRock Inc. told a Texas federal court that coal production has declined because demand from coal-fired power plants has been falling for years, not because asset managers conspired to pressure the producers.
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September 16, 2025
AI Startup Boost Run To Go Public Via $614M SPAC Merger
Artificial intelligence cloud infrastructure and high performance compute provider Boost Run LLC on Tuesday announced plans to go public by merging with special purpose acquisition company Willow Lane Acquisition Corp. in a $614 million deal built by Ellenoff Grossman & Schole LLP and Winston & Strawn LLP.
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September 16, 2025
FTC Chair Pledges 'Action' Against Late Merger Fixes
Federal Trade Commission Chairman Andrew Ferguson vowed Tuesday to take unspecified "action" against tactics by merging companies to propose fixes only after antitrust enforcers bring a transaction challenge, a strategy he called "bad for the system."
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September 16, 2025
Cooley Adds Ex-McDermott Atty As Activism Defense Head
Cooley LLP has added an attorney previously with McDermott Will & Schulte as the new chair of its activism defense practice, the firm announced Tuesday.
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September 16, 2025
USDOT Orders Scuttling Of Delta-Aeromexico Joint Venture
The Trump administration has ordered Delta Air Lines and Aeromexico to scuttle their joint venture by Jan. 1, saying they gained an unfair advantage in the market after the Mexican government abruptly restricted flights from other carriers at Mexico City's primary airport.
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September 16, 2025
Wachtell, Squire Patton Lead National Bank's $369M Vista Buy
Wachtell Lipton Rosen & Katz-advised National Bank Holdings Corp. has agreed to acquire Squire Patton Boggs LLP-led Vista Bancshares Inc. in a transaction valued at $369.1 million, the banks announced Tuesday.
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September 16, 2025
VarmX Partners With Biotech CSL In Deal Worth Up To $2.2B
European life sciences venture capital firm EQT Life Sciences on Tuesday announced that its portfolio company VarmX, a Netherlands-based biotech, has entered into an exclusive option agreement to be bought by global biotech CSL in a deal worth up to $2.2 billion.
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September 16, 2025
Orrick, DLA Piper Guide Workday's $1.1B Sana Acquisition
Orrick-led Workday Inc. will acquire DLA Piper-advised Sana for approximately $1.1 billion, the companies announced Tuesday, as part of their mission to "reimagine the future of work."
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September 15, 2025
FTC Dem Urges Justices Not To Disturb Her Reinstatement
U.S. Federal Trade Commissioner Rebecca Slaughter on Monday asked the U.S. Supreme Court not to block her reinstatement, arguing lower courts were correct in finding that President Donald Trump violated the law when he removed the Democrat from her post without cause.
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September 15, 2025
Ch. 11 Plan Faces Blowback From 23andMe Breach Claimants
More than 30,000 individuals who elected to pursue arbitration rather than sign on to a proposed class settlement over a data breach at 23andMe are urging a Missouri bankruptcy judge to reject the DNA testing company's notice of its reorganization plan, arguing that the disclosure provides misleading and inflated information about the company's agreement with these claimants.
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September 15, 2025
FTC Commissioner Says Antitrust Moment Has Been Building
Federal Trade Commissioner Mark R. Meador said Monday the current interest in antitrust enforcement has been building for the last several decades as corporate boardrooms increasingly take control over the economic lives of Americans.
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September 15, 2025
Trump Once More Floats The End Of The Quarterly Report
President Donald Trump has again suggested that publicly traded companies be allowed to issue financial reports twice a year instead of quarterly, reigniting a debate that stalled during his prior term in office when the U.S. Securities and Exchange Commission did not pursue such rulemaking.
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September 15, 2025
Fired DOJ Deputy Says Lobbyists 'Playing Dangerous Game'
A former top Justice Department Antitrust Division deputy, allegedly fired for opposing the "pay-to-play" settlement clearing Hewlett Packard Enterprise's $14 billion purchase of Juniper Networks, had a warning Monday for the lobbyists he said made the deal possible: there are only so many times they can go over division leadership.
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September 15, 2025
NBA's Trail Blazers Sold To Owner Of NHL's Hurricanes
The estate of Paul Allen has reached an agreement to sell the NBA Portland Trail Blazers to a group led by Tom Dundon, the chair of Dundon Capital Partners, who has had notable success in sports ownership in the National Hockey League and in professional pickleball but also is in the midst of a legal fight over the collapse of a spring football league.
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September 15, 2025
Sears Investors Ink $9M Deal In Fiduciary Breach Case
A hedge fund manager and his firm will pay more than $9 million to end a long-running lawsuit alleging that they shortchanged investors when they took Sears Hometown and Outlet Stores Inc. private in 2019, according to a deal filed in the Delaware Court of Chancery.
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September 15, 2025
Dr. Phil Media Co.'s Committee Backs Chapter 11 Settlement
Merit Street Media's official committee of unsecured creditors has thrown its support behind a proposed $17 million Chapter 11 settlement funded by Dr. Phil McGraw's production company Peteski Productions, saying a bankruptcy plan would result in the best outcome for creditors.
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September 15, 2025
Catching Up With Delaware's Chancery Court
Delaware's governor weighed in on a challenge to recently approved state legislation that bars damages or "equitable" relief for some controlling stockholder or going-private deals. Meanwhile, Moelis told the Delaware Supreme Court that the struck-down stockholder agreement that triggered that legislation was valid. Additionally, one of two newly funded magistrates' posts in the Chancery Court has been filled.
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September 15, 2025
Kirkland, Gibson Dunn Advise On $1B Blackstone Energy Deal
Blackstone will pay nearly $1 billion to purchase the Hill Top Energy Center natural gas power plant from Ardian, with Kirkland & Ellis LLP and Gibson Dunn & Crutcher LLP steering the private equity firms on the agreement, the firms said Monday.
Expert Analysis
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Series
Teaching College Students Makes Me A Better Lawyer
Serving as an adjunct college professor has taught me the importance of building rapport, communicating effectively, and persuading individuals to critically analyze the difference between what they think and what they know — principles that have helped to improve my practice of law, says Sheria Clarke at Nelson Mullins.
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Series
Adapting To Private Practice: From DOJ Enviro To Mid-Law
Practitioners leaving a longtime government role for private practice — as when I departed the U.S. Department of Justice’s environmental enforcement division — should prioritize finding a firm that shares their principles, values their experience and will invest in their transition, says John Cruden at Beveridge & Diamond.
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Legal Ethics Considerations For Law Firm Pro Bono Deals
If a law firm enters into a pro bono deal with the Trump administration in exchange for avoiding or removing an executive order, it has an ethical obligation to create a written settlement agreement with specific terms, which would mitigate some potential conflict of interest problems, says Andrew Altschul at Buchanan Angeli.
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Del. Dispatch: Open Issues After Corp. Law Amendments
Recent amendments to the Delaware General Corporation Law represent a significant change in the future structuring of boards and how the First State will approach conflicted transactions, but Delaware courts may interpret the amendments narrowly, limiting their impact, say attorneys at Fried Frank.
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Series
Playing Football Made Me A Better Lawyer
While my football career ended over 15 years ago, the lessons the sport taught me about grit, accountability and resilience have stayed with me and will continue to help me succeed as an attorney, says Bert McBride at Trenam.
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What Del. Supreme Court LKQ Decision Means For M&A Deals
The Delaware Supreme Court's recent decision in LKQ v. Rutledge greatly increases the enforceability of forfeiture-for-competition provisions, representing an important affirmation of earlier precedent and making it likely that such agreements will become more common in M&A transactions, say attorneys at Mayer Brown.
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10 Arbitrations And A 5th Circ. Ruling Flag Arb. Clause Risks
The ongoing arbitral saga of Sullivan v. Feldman, which has engendered proceedings before 10 different arbitrators in Texas and Louisiana along with last month's Fifth Circuit opinion, showcases both the risks and limitations of arbitration clauses in retainer agreements for resolving attorney-client disputes, says Christopher Blazejewski at Sherin and Lodgen.
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Series
Power To The Paralegals: The Value Of Unified State Licensing
Texas' proposal to become the latest state to license paraprofessional providers of limited legal services could help firms expand their reach and improve access to justice, but consumers, attorneys and allied legal professionals would benefit even more if similar programs across the country become more uniform, says Michael Houlberg at the University of Denver.
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Key Digital Asset Issues Require Antitrust Vigilance
As the digital assets industry continues to mature and consolidate during Trump 2.0, it will inevitably bump up against the antitrust laws in a new way, with potential pitfalls related to merger reviews, conspiratorial or monopolistic conduct, and interlocking directorates, say attorneys at Crowell & Moring.
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10 Soft Skills Every GC Should Master
As businesses face shifting regulatory and technological uncertainty, general counsel will need to strengthen certain soft skills to succeed, from admitting when they make a mistake to maintaining a healthy dose of dispassion, says Douglas Brown at Manatt.
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How Proxy Advisory Firms Are Approaching AI And DEI
Institutional Shareholder Services' and Glass Lewis' annual updates to their proxy voting guidelines reflect some of the biggest issues of the day, including artificial intelligence and DEI, and companies should parse these changes carefully, say attorneys at Cahill Gordon.
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An Unrestrained, Bright-Eyed View Of Legal AI's Future
Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner and more dramatically than we expect.
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Tracking The Evolution In Litigation Finance
Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure lending terms do not overwhelm collateral value, says Robert Wilkins at Lightfoot Franklin.
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Keys To Regulatory Diligence In Life Sciences Transactions
Conducting effective regulatory due diligence for life sciences deals requires careful review of a target company's activities, and separate sets of considerations for commercial and pipeline products, says Anna Zhao at GunnerCooke.
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Series
Volunteer Firefighting Makes Me A Better Lawyer
While practicing corporate law and firefighting may appear incongruous, the latter benefits my legal career by reminding me of the importance of humility, perspective and education, says Nicholas Passaro at Ford.