Mergers & Acquisitions

  • October 15, 2024

    Santander Settles Investors' Squeeze-Out Suit For $162.5M

    Santander Consumer USA Holdings Inc. has agreed to shell out $162.5 million to put to rest stockholders' consolidated class action challenging a $2.5 billion minority squeeze-out merger, according to a stipulation filed Monday in Delaware's Court of Chancery.

  • October 15, 2024

    Gamers End Challenge Of Microsoft's $69B Activision Deal

    Microsoft reached an agreement ending a challenge from a group of gamers targeting its $69 billion deal for Activision Blizzard as a merger challenge from the Federal Trade Commission remains pending at the Ninth Circuit.

  • October 15, 2024

    Finnish Sports Biz Wins Asset Freeze In $1.2M NHL Deal Suit

    A Massachusetts federal judge on Tuesday granted a Finland-based sports management company's request to freeze the assets of the American owner behind a shuttered agency that represented hockey players while it pursues litigation seeking more than $1.2 million owed from a deal to represent Finnish players in the NHL.

  • October 15, 2024

    Chancery Urged To Toss Smart & Final $1.1B Sale Challenge

    An attorney for funds of Ares Alternative Management Corp. told Delaware's chancellor on Tuesday a stockholder suit alleging breaches of fiduciary duty and corporate waste in a $1.1 billion sale of Smart & Final Stores Inc. failed to show disabling conflicts among company principals or advisers.

  • October 15, 2024

    4 Firms Steer Ownership Shakeup At 'Dune' Movie Maker

    Legendary Entertainment has completed a buyout of Chinese company Wanda Group's remaining equity interest in the movie studio behind "Dune" and "Dune: Part Two," a deal that gives sole ownership of the company to Legendary's management and funds managed by affiliates of Apollo.

  • October 15, 2024

    Three Cos. Combine On $3.4B Texas Data Center Complex

    Blue Owl Capital, infrastructure firm Crusoe Energy Systems and investor Primary Digital Infrastructure said Tuesday they are pooling $3.4 billion to build a 1 million-square-foot data center campus in Abilene, Texas.

  • October 15, 2024

    Frontier May Be Worth 2 Times Verizon's Bid, Investor Warns

    Frontier Communications Parent Inc. stockholder Cooper Investors Pty Ltd. on Tuesday expressed "strong opposition" to Verizon Communications Inc.'s planned $20 billion deal to absorb the company, arguing Frontier could be worth nearly double the $38.50 per share that Verizon plans to pay.

  • October 15, 2024

    Simpson Thacher, Milbank Guide $2B DataBank Equity Raise

    Data center developer and operator DataBank announced on Tuesday it has raised $2 billion in equity, led by AustralianSuper's $1.5 billion commitment, in an investment round arranged by Simpson Thacher and Milbank.

  • October 15, 2024

    Law Firms Diverge As Anti-ESG Pushback Continues

    A continuing onslaught of legislation and litigation opposing corporate environmental, social and governance actions has created a fork in the road for law firms, with some choosing to scale back efforts and others pushing ahead with their internal ESG and diversity, equity and inclusion goals.

  • October 15, 2024

    The 2024 Law360 Pulse Social Impact Leaders

    Check out our Social Impact Leaders ranking, analysis and interactive graphics to see which firms stand out for their engagement with social responsibility and commitment to pro bono service.

  • October 15, 2024

    Wheel Pros Gets OK For $1.4B Equity-Swap Ch. 11 Plan

    A Delaware bankruptcy judge on Tuesday approved automotive wheel company Wheel Pros LLC's prepackaged Chapter 11 plan to swap $1.4 billion in senior secured debt for controlling equity in the company.

  • October 15, 2024

    FTC Wants More Info On $1.36B Home Healthcare Deal

    The Federal Trade Commission has requested more information about healthcare solutions company Owens & Minor Inc.'s planned $1.36 billion purchase of home-based care business Rotech Healthcare Holdings Inc., extending the agency's merger review.

  • October 15, 2024

    True Value Hardware Hits Ch. 11 With $153M Asset Sale Plan

    The 75-year-old hardware retailer True Value Co. LLC filed for Chapter 11 protection in Delaware bankruptcy court, with its plan to sell all assets to industry rival Do It Best Corp.

  • October 15, 2024

    Banknotes Maker Agrees To Sell Unit For £300M

    Banknotes maker De La Rue said Tuesday that it has agreed to sell its authentication division and related entities to a U.S. company for £300 million ($390 million) in a deal steered by Bird & Bird, Slaughter and May and Freshfields.

  • October 14, 2024

    Permira Wraps $7.2B Deal For Squarespace Amid Litigation

    Private equity firm Permira said Monday that it has successfully bought the outstanding stock of Squarespace Inc. in its proposed $7.2 billion deal to take the website builder private, amid ongoing shareholder litigation in the U.S. challenging the transaction.

  • October 14, 2024

    Baker McKenzie Leads Lundbeck's $2.6B Deal For US Pharma

    Lundbeck said Monday that it has agreed to buy Longboard, a U.S. biopharmaceutical business, for $2.6 billion in cash as the Danish drug giant aims to capture a drug with "blockbuster potential" to treat a rare form of epilepsy.

  • October 14, 2024

    Pulp Giant Int'l Paper Shareholders Back £5.8B DS Smith Buy

    International Paper Co. said Monday that its shareholders have "overwhelmingly" supported the planned £5.8 billion ($7.6 billion) all-share purchase of DS Smith PLC, its smaller U.K. rival, as the packaging giant eyes overseas expansion.

  • October 11, 2024

    IBM Unit Wants To Undo 'Troubling' Defamation Case Ruling

    An IBM unit has asked the Fourth Circuit to revive its lawsuit alleging a former executive's defamatory statements nearly killed a major acquisition, arguing that a lower court attempted to inject a new standard into its analysis.

  • October 11, 2024

    New Squarespace Suit Filed For Take-Private Docs

    A second shareholder of website builder Squarespace Inc. has sued in the Delaware Court of Chancery for books and records on the company's proposed $7.2 billion take-private deal with private equity giant Permira Advisors LLC, less than two weeks after the sidelining of an earlier books suit focusing on the same deal, which is set to expire late Oct. 11.

  • October 11, 2024

    M&A Dispute Triggers Could Shift Moving Into 2025

    Legal disputes are a fact of life when it comes to mergers and acquisitions, but the deal provisions seen as the most likely to spur conflict have shifted since the impacts of the COVID-19 pandemic have subsided, according to attorneys surveyed in a new report from Berkeley Research Group. 

  • October 11, 2024

    Fintech-Focused Cohen SPAC Leads 2 IPOs Worth $250M

    Cohen Circle Acquisition Corp. I, a special purpose acquisition company founded by financial services industry veteran Betsy Cohen, began trading Friday, one of two SPACs that completed initial public offerings for a combined $250 million.

  • October 11, 2024

    FTC's Republicans Take Aim At Agency Merger Data

    The Federal Trade Commission's two Republican members criticized a long-standing agency policy of reporting "abandoned" transactions that were never notified to the antitrust agencies as wins, while dissenting from an annual congressional report on merger reviews.

  • October 11, 2024

    Cable Co. CEO Says Buyer Fired Him In Violation Of Deal

    An owner of a Colorado aerospace manufacturing company is suing a buyer in state court for allegedly violating the terms of their asset purchase deal, claiming the buyer fabricated a reason to fire him as CEO in order to avoid paying half a million dollars that it would otherwise owe to his company.

  • October 11, 2024

    Sports Biz Seeks To Freeze Assets In Suit Over NHL Deal

    A Finland-based sports agency has asked a federal judge to enjoin a Massachusetts man from transferring or disposing of any assets while a lawsuit proceeds over a scheme he allegedly carried out to avoid paying roughly $1 million awarded to the company through arbitration.

  • October 11, 2024

    Cannabis Biz Ex-Partners Spar Over $6.4M Judgment Payout

    Two former business partners are sparring in Colorado federal court over a proposed order to hold assets related to a cannabis company to satisfy a $6.4 million judgment and whether that order can be granted in compliance with the federal Controlled Substances Act.

Expert Analysis

  • Lawyers Can Take Action To Honor The Voting Rights Act

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    As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.

  • PE Firms Should Prepare For Increased False Claims Scrutiny

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    The impact private equity firms may have over medical decisions and care is increasingly attracting potential liability under the False Claims Act and attention from states and the federal government, so investors should follow best practices including conducting due diligence both before and after acquisitions, say attorneys at K&L Gates.

  • Navigating Antitrust Considerations In ESG Collaborations

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    The intersection of ESG goals and antitrust laws presents a complex challenge for businesses and their counsel — but by creating clear frameworks for collaboration, adhering to established guidelines and carefully considering the competitive implications of their actions, companies can work toward sustainability while mitigating legal risks, say attorneys at Morgan Lewis.

  • How To Grow Marketing, Biz Dev Teams In A Tight Market

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    Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.

  • FTC Focus: Private Equity Investments In Healthcare

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    As the Federal Trade Commission is tightening its scrutiny of private equity investment in healthcare, the agency is finding novel grounds to challenge key focus areas, including rollup acquisitions, the flip-and-strip approach and minority investments in rival providers, say attorneys at Proskauer.

  • Series

    Rock Climbing Makes Me A Better Lawyer

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    Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.

  • How 5 States' Deal Notification Laws Are Guiding Healthcare

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    Healthcare transaction notification laws at various stages of implementation in California, Illinois, Indiana, Oregon and Washington are shaping sector mergers and acquisitions, with significant transparency, continuity of care and compliance implications as providers tackle complex regulatory requirements, says Melesa Freerks at DLA Piper.

  • Think Like A Lawyer: Dance The Legal Standard Two-Step

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    From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.

  • Opinion

    OFAC Sanctions Deserve To Be Challenged Post-Chevron

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    The U.S. Supreme Court's Loper Bright decision opens the door to challenges against the Office of Foreign Assets Control's sanctions regime, the unintended consequences of which raise serious questions about the wisdom of what appears to be a scorched-earth approach, says Solomon Shinerock at Lewis Baach.

  • Behind The Delay Of Final HSR Premerger Filing Rules

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    Erin Toomey at Epiq discusses the wait for the final version of the revised Hart-Scott-Rodino premerger filing requirements that were first introduced in June 2023, the factors that might be behind the delay, and how to plan for the potential data-focused rule change

  • Why FDIC Banks May Want To Consider Fed Membership

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    With the Federal Deposit Insurance Corp. recently ratcheting up bank supervision and proposing idiosyncratic new policies, state-chartered nonmember banks may want to explore the benefits of becoming Federal Reserve members and consider practical steps to make the switch, say Max Bonici and Connor Webb at Venable.

  • Opinion

    The FTC Needs To Challenge The Novo-Catalent Deal

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    Novo's acquisition of Catalent threatens to substantially lessen competition in the manufacturing and marketing of GLP-1 diabetes and obesity drugs, and the Federal Trade Commission should challenge it under a vertical theory of harm, as it aligns with last year's merger guidelines and the Fifth Circuit decision in Illumina, says attorney David Balto.

  • Series

    Being A Luthier Makes Me A Better Lawyer

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    When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.

  • Lead Like 'Ted Lasso' By Embracing Cognitive Diversity

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    The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.

  • Preparing For Increased Scrutiny Of Tech Supply Chains

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    The U.S. Department of Commerce's recent action prohibiting sales of a Russia-based technology company's products in the U.S. is the first determination under the information technology supply chain rule, and signals plans to increase enforcement of protections that target companies in designated foreign adversary jurisdictions, say attorneys at Debevoise.

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