Mergers & Acquisitions

  • April 18, 2024

    Insurance Broker Jensten Builds £170M Acquisition War Chest

    Private equity-backed insurance broker Jensten Group said Thursday it has secured £170 million ($211 million) in funding for a series of planned acquisitions.

  • April 18, 2024

    Kirkland, Weil-Guided Apax To Buy HR Payroll Co. For €36M

    Investment group Apax Global Alpha Ltd. said Thursday that a fund it advises has agreed to buy Zellis UK Ltd., a prominent provider of payroll and HR software in the U.K. for approximately €36 million ($38.4 million), financed via one of its funds.

  • April 18, 2024

    Hipgnosis Agrees To $1.4B Takeover By US Rival Concord

    Concord Chorus has agreed to buy its British music royalties rival Hipgnosis Songs Fund in an all-cash transaction worth $1.4 billion, as the U.S. company looks to add 1.2 million more songs to its portfolio, the companies said in joint statement Thursday.

  • April 17, 2024

    Ex-JPMorgan Analyst Liked 'Winding Up' Autonomy CEO, Jury Told

    A former JPMorgan stock analyst testifying Wednesday in the criminal fraud trial of former Autonomy CEO Michael Lynch said that he "took pleasure in winding up Lynch" and once even used a Hitler analogy to describe his performance, but said his critical coverage was never personal.

  • April 17, 2024

    New TikTok Bill Gives More Time For Divestment

    A bill requiring ByteDance Ltd. to divest TikTok or face a ban in the U.S. was included in the package of national security bills House Republicans introduced on Wednesday, which gives a longer runway to sell the app than the one the House previously passed in March.

  • April 17, 2024

    RTX Investor Sues Brass In Del. For Better Antitrust Oversight

    A shareholder of RTX has sued the aerospace and defense giant's current and former officers and directors in Delaware's Court of Chancery, accusing them of failing over a period of at least eight years to prevent antitrust violations in the company's hiring practices.

  • April 17, 2024

    DC Judge Questions 7-Eleven Position On FTC Constraints

    A D.C. federal judge on Wednesday pressed counsel for 7-Eleven on the company's claims that only the U.S. attorney general can seek civil penalties on behalf of the Federal Trade Commission, questioning how the commission itself can be limited when the FTC Act gives it the right to take up actions if the U.S. Department of Justice does not.

  • April 17, 2024

    Don't Ignore Problematic Merger Docs, FTC Comp Chief Says

    The Federal Trade Commission's top antitrust enforcer urged merging parties Wednesday to be fully open and transparent with reviewing staffers, warning that trying to get enforcers to ignore potentially problematic material just makes their jobs more difficult.

  • April 17, 2024

    Karuna Investor Ends Suit After Bristol-Myers Seals $14B Deal

    A Karuna Therapeutics shareholder has dropped her proposed class action after Bristol-Myers Squibb Co. completed its $14 billion purchase of the biotechology company, a deal the suit alleged was brought about by misrepresentations to investors to gain their support.

  • April 17, 2024

    MoFo Advises Southwest Gas Carve-Out Centuri's $260M IPO

    Southwest Gas Holdings Inc.'s infrastructure services unit Centuri Holdings Inc. on Wednesday priced a $260.4 million initial public offering at the top of its range, enabling Centuri to become a standalone public company, represented by Morrison Foerster LLP and underwriters' counsel Skadden Arps Slate Meagher & Flom LLP.

  • April 17, 2024

    Lawmaker Says New Merger Guides Hurt Small Businesses

    The head of the House Small Business Committee has sent letters to the U.S. Department of Justice and Federal Trade Commission, contending enforcers did not fully consider how new merger guidelines will impact the small business community.

  • April 17, 2024

    Jury Says Caterpillar's Interference Cost Equipment Co. $100M

    A jury in Delaware has rejected antitrust claims against Caterpillar but found that the equipment maker caused a defunct importer $100 million in damages by interfering with its contract to sell equipment through an online sales platform.

  • April 17, 2024

    Dems Uneasy Over ESPN, Fox, Warner Sports Streaming App

    A pair of House Democrats have raised concerns over plans by ESPN, Fox and Warner Bros. Discovery's to combine their vast live sports portfolios into a single app, pressing the programmers for details to ensure the joint venture won't increase consumer prices and degrade licensing terms for leagues and distributors.

  • April 17, 2024

    Bankman-Fried Appeal May Cite Unusual Preview Testimony

    Sam Bankman-Fried's appeal of his conviction and 25-year prison sentence may cite a "rather unprecedented" trial procedure in which the FTX founder gave provisional testimony before officially taking the witness stand last year, one of his attorneys said Wednesday.

  • April 17, 2024

    Manatt Adds NY Bankruptcy, Financial Regulatory Partners

    Manatt Phelps & Phillips LLP announced that it hired a pair of experienced New York-based attorneys who focus their practices on regulatory matters as partners in its bankruptcy and financial regulatory practices.

  • April 17, 2024

    American Urges 1st Circ. To Reject 'Radical' JetBlue Ruling

    American Airlines has told the First Circuit that a judge's "radical vision of the antitrust laws" that blocked its Northeast Alliance joint venture with JetBlue shouldn't stand, arguing that federal enforcers are relying on misleading claims and outdated precedent to prop up the lower court's mistaken conclusion.

  • April 17, 2024

    Loeb & Loeb Adds 2 Corporate Partners From Morrison Cohen

    Loeb & Loeb LLP has announced the latest in a string of corporate hires from Morrison Cohen LLP's ranks, touting two new partners with domestic and international experience with strategic transactions.

  • April 17, 2024

    TPG Plugs $235M Into Supply Chain Risk Intelligence Platform

    Counterparty and supply chain risk intelligence platform Sayari, advised by Manatt Phelps & Phillips LLP, on Wednesday revealed that it closed on an upsized $235 million strategic majority investment from Kirkland & Ellis LLP-advised private equity shop TPG, which will provide the company with additional capital to support continued growth.

  • April 17, 2024

    Vinci To Buy Controlling Stake In Edinburgh Airport For £1.3B

    Vinci SA said Wednesday that one of its subsidiaries has agreed to buy a 50.01% stake in Edinburgh Airport for £1.27 billion ($1.58 billion), as the French infrastructure giant eyes growth at the Scottish flight hub.

  • April 16, 2024

    House Panel Takes Aim At Change Healthcare, FTC Over Hack

    A House subcommittee exploring ways to boost cybersecurity in the healthcare industry on Tuesday blasted Change Healthcare for failing to take appropriate steps to block a damaging cyberattack that echoed another recent strike on critical infrastructure and the Federal Trade Commission for not stopping the provider from controlling such a large market share. 

  • April 16, 2024

    Autonomy CEO Pressured JPMorgan Over Analyst, Jury Told

    An ex-JPMorgan stock analyst testifying Tuesday in the criminal fraud trial of former Autonomy CEO Michael Lynch told jurors that the software company founder responded with hostility when his research reports questioned its growth, and that Lynch offered JPMorgan millions in business if he were taken off the Autonomy beat.

  • April 16, 2024

    NC Treasurer Backs FTC On Hospital Merger Challenge

    North Carolina's treasurer agreed Monday that Novant Health's $320 million plan to pick up a pair of hospitals is a bad idea, throwing its weight behind the Federal Trade Commission's challenge to the deal in federal court.

  • April 16, 2024

    9th Circ. Upholds Tossing Skillz Gaming Tech Investor Suit

    The Ninth Circuit on Tuesday upheld a decision to toss a proposed class action claiming that mobile gaming company Skillz Inc. misled investors about its technology prior to a 2021 merger with a special purpose acquisition company, ruling that issues with the gaming software do not make the company' statements false or misleading.

  • April 16, 2024

    Hedge Fund Asks Court To Toss REIT's Suit In Takeover Row

    New York hedge fund Blackwells Capital LLC fired off the latest shot in its ongoing board takeover spat with a Texas-based hotel real estate investment trust, asking Monday for a federal judge to toss a lawsuit aimed at warding off the proxy contest.

  • April 16, 2024

    Ex-Minority Owner Of Commanders Sues BofA Over Team Sale

    A former minority owner of the Washington Commanders has accused Bank of America and affiliated entities of conspiring with the team's former majority owner to buy 40% of the franchise at a discount, only to turn around and later sell all of it for $6 billion.

Expert Analysis

  • Series

    Playing In A Rock Cover Band Makes Me A Better Lawyer

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    Performing in a classic rock cover band has driven me to hone several skills — including focus, organization and networking — that have benefited my professional development, demonstrating that taking time to follow your muse outside of work can be a boon to your career, says Michael Gambro at Cadwalader.

  • Series

    The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'

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    The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.

  • New DOJ Roles Underscore National Security Focus

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    The U.S. Department of Justice’s recent creation of two new leadership positions signals to the private sector that federal law enforcement is pouring resources into corporate investigations to identify potential national security violations, say attorneys at Ballard Spahr.

  • How To Navigate The FTC's New Private Equity Frontier

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    The Federal Trade Commission's recent district court complaint against an anesthesia firm and its private equity partner tests key bounds of the agency's stand-alone authority, and defense strategies can include challenges to both the geographic and the service market fronts, say attorneys at Baker McKenzie.

  • Opinion

    Newman Suspension Shows Need For Judicial Reform

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    The recent suspension of U.S. Circuit Judge Pauline Newman following her alleged refusal to participate in a disability inquiry reveals the need for judicial misconduct reforms to ensure that judges step down when they can no longer serve effectively, says Aliza Shatzman at The Legal Accountability Project.

  • Practicing Under DOJ 'Safe Harbor' Policy For M&As

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    The U.S. Justice Department's recently announced safe harbor policy for mergers and acquisitions offers greater specificity and predictability for acquiring companies that need time to self-report violations, but it's important to remember that the new window is not endless, say attorneys at Simpson Thacher.

  • SEC's Life Sciences Actions Utilize Novel Tools And Theories

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    Recent enforcement actions show that the U.S. Securities and Exchange Commission is employing new forms of data analytics and noteworthy applications of insider trading laws in its scrutiny of fraud within the life sciences and health industries, say Edward Imperatore and Jina Choi at MoFo.

  • How And Why Your Firm Should Implement Fixed-Fee Billing

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    Amid rising burnout in the legal industry and client efforts to curtail spending, pivoting to a fixed-fee billing model may improve client-attorney relationships and offer lawyers financial, logistical and stress relief — while still maintaining profit margins, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • Opinion

    SEC Actions Against Musk Are Constitutionally Defective

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    The U.S. Securities and Exchange Commission's recent subpoena enforcement action against Elon Musk may be constitutionally and statutorily deficient — and the commission staff who issued the subpoenas and the action may have been unconstitutionally appointed, say Alex Lipman at Lipman Law and Justin Weddle at Weddle Law.

  • Series

    Conn. Banking Brief: The Notable Compliance Updates In Q3

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    The most notable legal changes affecting Connecticut financial institutions in the third quarter of 2023 included increased regulatory protections for consumers, an expansion of state financial assistance for underserved communities, and a panoply of tweaks to existing laws, says Brian Rich at Barclay Damon.

  • Opinion

    Judicial Independence Needs Defense Amid Political Threats

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    Amid recent and historic challenges to the judiciary from political forces, safeguarding judicial independence and maintaining the integrity of the legal system is increasingly urgent, says Robert Peck at the Center for Constitutional Litigation.

  • How Law Firms Can Use Account-Based Marketing Strategies

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    Amid several evolving legal industry trends, account-based marketing can help law firms uncover additional revenue-generating opportunities with existing clients, with key considerations ranging from data analytics to relationship building, say Jennifer Ramsey at stage LLC and consultant Gina Sponzilli.

  • Strategic Succession Planning At Law Firms Is Crucial

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    Senior partners' reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior ranks and provide clearer leadership pathways to junior attorneys, says Laura Leopard at Leopard Solutions.

  • The Impact Of Proposed HSR Form Changes On Agency Staff

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    The Federal Trade Commission's recent proposed changes to the Hart-Scott-Rodino Notification and Report Form will have the unintended effect of drastically increasing the burden on agency staff without an appreciable increase in their ability to detect potentially anti-competitive transactions, say Amanda Wait and Andrew Eklund at Norton Rose.

  • FTC's Health Co. Suit Indicates Agency's Private Equity Focus

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    The Federal Trade Commission's latest lawsuit against an anesthesia company and its private equity investor highlights the agency's willingness to regulate the health care industry even when relevant acquisitions are relatively dated or when the controlling entity's economic interest is under 50%, say attorneys at Simpson Thacher.

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