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Mergers & Acquisitions
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May 21, 2025
Kronos Bio Shareholder Says Sale Unfairly Benefits Execs
Kronos Bio is facing a new shareholder suit claiming its plan to be acquired by another biopharmaceutical company will unfairly entitle Kronos executives to "lucrative" benefits unavailable to public shareholders.
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May 21, 2025
Crestline Investors Closes $1.7B NAV Financing Fund
Crestline Investors said Wednesday that it has closed its third commingled net asset value, or NAV, financing fund with $1.7 billion in capital, as the private equity firm continues its strategy of offering alternative investment and liquidity options amid a volatile exit environment.
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May 21, 2025
LA Chargers Latest NFL Team To Add PE Minority Ownership
The Los Angeles Chargers have become the third NFL team to sell a minority ownership stake to a private equity firm since the league approved such investments in August, with NFL owners OK'ing the purchase of a Chargers stake by Arctos Partners LP.
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May 21, 2025
Cadwalader Adds Ex-Latham Infrastructure Atty In London
Cadwalader Wickersham & Taft LLP announced it has added a former Latham & Watkins LLP infrastructure finance attorney as a partner in its London office.
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May 21, 2025
Simpson Thacher, Hogan Lovells Guide $1.75B Shipping Deal
Typewriter Ascend Ltd., an entity backed by Stonepeak and affiliated with container leasing firm Textainer, has agreed to acquire Global Sea Containers Ltd. from China's Bohai Leasing Co. in a deal valued at $1.75 billion.
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May 20, 2025
FDIC Nixes Biden-Era Merger Rules As House Passes OCC Bill
The Federal Deposit Insurance Corp. on Tuesday finalized the repeal of stricter bank merger guidelines adopted last year, pulling them back the same day as the U.S. House moved to nullify the Office of the Comptroller of the Currency's Biden-era merger policy rewrite.
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May 20, 2025
High Court Precedent Blocks FTC Commish Firings, Judge Told
A pair of recently fired Federal Trade Commission members sparred with the administration in D.C. federal court on Tuesday, with the judge raising questions about which Supreme Court precedent really holds in this dispute.
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May 20, 2025
Nextdoor Beats Investor Suit Over Post-SPAC Profitability
A California federal judge has tossed a shareholder class action that alleges hyperlocal social networking service Nextdoor Holdings Inc. misled investors about its projected profitability when combining with a special purpose acquisition company, saying the suit's plaintiff never owned or sold the company's securities before the merger, among other things.
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May 20, 2025
Meta Says Too Late For 'Dramatic Shift' In Antitrust Argument
Consumers who claim Meta monopolized the social media advertising market are attempting to make a late "dramatic shift" from their years-long argument that all of its users should have been paid a "made-up figure" of $5 a month for their data, the company told a California federal court Monday.
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May 20, 2025
Beach Point Nabs Nearly $1.3B For Private Credit, Real Estate
Beach Point Capital Management said Tuesday it has raised nearly $1.3 billion across two investment funds, as it continues to build out its offerings in private credit and real estate.
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May 20, 2025
Judge Denies Meta's Mid-Trial Bid To End FTC Monopoly Case
A D.C. federal judge refused Tuesday to cut short the trial in the Federal Trade Commission's monopolization lawsuit against Meta Platforms Inc., not finding the clear evidentiary failure necessary to nix the government's case over the company's purchases of WhatsApp and Instagram.
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May 20, 2025
Greenberg Traurig, Gibson Dunn Guide $865M Ariz. Hotel Sale
Ryman Hospitality Properties Inc. has purchased a Marriott-branded Phoenix resort from Trinity Investments for $865 million in a deal guided by Gibson Dunn and Greenberg Traurig, per statements from the buyer and seller.
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May 20, 2025
Cleary Guides Up To $391M Sale Of Levi Strauss' Dockers Line
Levi Strauss & Co. said Tuesday that it will offload its Dockers brand to Authentic Brands Group in a deal worth up to $391 million, signaling the company's intensified focus on its denim lines and the growth of its Beyond Yoga business.
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May 20, 2025
Holland & Knight Adds Employment Litigator To DC-Area Office
Holland & Knight LLP has hired a longtime employment litigator from Quarles & Brady LLP, who joins the firm in Tysons, Virginia, to continue her practice litigating restrictive covenants, business torts and trade secrets.
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May 20, 2025
Engineer Renold Faces Competing Bids Worth Up To £183M
Renold PLC said Tuesday that it is being circled by private equity firms after receiving two separate takeover bids that would pull the British engineering firm from London's junior market.
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May 20, 2025
Ithaca To Boost Stake In UK Gas Field With £116M Deal
Ithaca Energy said Tuesday that it has agreed to acquire a 46.25% stake in a North Sea gas field from a joint venture between British Gas-owner Centrica and a German company for £116 million ($155 million) as the business looks to expand its portfolio.
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May 19, 2025
SEC's 'Shadow Trading' Win Should Be Tossed, 9th Circ. Told
An ex-Medivation Inc. executive found liable in the U.S. Securities and Exchange Commission's first-ever "shadow trading" case has asked the Ninth Circuit to overturn the verdict, arguing that his company's policies should have kept the matter from going to a jury in the first place.
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May 19, 2025
Cepton Sued In Del. Over $125M Koito Take-Private Deal
A Cepton Inc. stockholder has launched a proposed class action challenging the light detection and ranging technology company's $3.17-per-share, $125.4 million take-private acquisition by Japan-based Koito Manufacturing Inc. in Delaware's Court of Chancery, alleging fiduciary breaches by the company's CEO, four directors and the deal's investment banker.
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May 19, 2025
FCC's Carr Claims Victory Versus DEI In Verizon-Frontier OK
Verizon took a leap toward closing its $20 billion bid for Frontier Communications by gaining the Federal Communications Commission's approval after ditching its diversity, equity and inclusion programs at the behest of FCC Chair Brendan Carr.
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May 19, 2025
Insurer Drops Fight Over $9M OpenText Merger Settlement
Allied World National Assurance Company on Monday ended its lawsuit seeking a declaration that it wasn't obligated to contribute to a $9 million settlement in a shareholder class action stemming from Covisint Corp.'s merger with OpenText.
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May 19, 2025
Tyson Says Feed Ingredient Co.'s Suppliers Chose It Fairly
Tyson Foods asked a Georgia federal judge to nix a poultry rendering company's antitrust lawsuit, arguing the evidence shows that contracts it inked with the company's raw materials suppliers were won out of competition, not conspiracy to force the rendering firm into an underpriced $865.8 million buyout.
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May 19, 2025
NY AG Blasts Ski Resort Owner's Antitrust Fixes
The New York Attorney General's Office has told a state court that alternative fixes being offered by a ski resort owner found to have violated antitrust law by buying and closing a competitor would "entrench the very monopoly" the court found illegal.
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May 19, 2025
Wachtell-Led Regeneron To Buy 23andMe, Gaining User Data
Regeneron Pharmaceuticals said Monday it emerged as the winning bidder for 23andMe, agreeing to pay $256 million to scoop the once high-flying consumer genomics firm out of bankruptcy while pledging to uphold strict privacy standards.
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May 19, 2025
Covington Corporate M&A Atty Moves To Clifford Chance
Clifford Chance LLP has hired a Covington & Burling LLP partner for its U.S. corporate mergers and acquisitions practice to strengthen its capabilities in the healthcare and life sciences sector, the firm said Monday.
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May 19, 2025
Mayer Brown Taps Sidley Attorney As Practice Co-Lead
Mayer Brown LLP announced Monday that it has appointed a former Sidley Austin LLP attorney in New York to co-lead its financial services mergers and acquisitions practice.
Expert Analysis
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Nippon, US Steel Face Long Odds On Merger Challenge
Following the Committee on Foreign Investment in the United States' review of Japan's Nippon Steel's proposed acquisition of U.S. Steel, the companies face a formidable uphill battle in challenging the president's exercise of authority to block the deal on national security grounds, say attorneys at Kirkland.
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Opinion
No, Litigation Funders Are Not 'Fleeing' The District Of Del.
A recent study claimed that litigation funders have “fled” Delaware federal court due to a standing order requiring disclosure of third-party financing, but responsible funders have no problem litigating in this jurisdiction, and many other factors could explain the decline in filings, say Will Freeman and Sarah Tsou at Omni Bridgeway.
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5 E-Discovery Predictions For 2025 And Beyond
In the year to come, e-discovery will be shaped by new and emerging trends, from the adoption of artificial intelligence provisions in protective orders, to the proliferation of emojis as a source of evidence in contemporary litigation, say attorneys at Littler.
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Best Practices To Find Del. Earnout Provisions That Hold Up
Recent Delaware earnout litigation illustrates the need for careful drafting and proactive planning to avoid later divergent interpretations of the signed contract, and a series of drafting tips can help, say attorneys at Cozen O'Connor.
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What 2024 Tells Us About Calif. Health Transaction Reviews
Looking back at the California Office of Health Care Affordability's first year accepting notices for material healthcare transactions reveals critical lessons on what the OHCA's review process may mean for the future of covered transactions in the state, say attorneys at Ropes & Gray.
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Republican Trifecta Amplifies Risks For Cos. In 3 Key Areas
Expected coordination between a Republican Congress and presidential administration may expose companies to simultaneous criminal, civil and congressional investigations, particularly with regard to supply chain risks in certain industries, government contracting and cross-border investment, say attorneys at Morgan Lewis.
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2024 Was A Banner Year For Shareholder Activism
Shareholder activism campaigns in 2024 continued at an elevated pace globally, with activist investors exploiting valuation gaps and pushing aggressively for corporate governance reforms, including the ouster of many companies' chief executives, a trend that could continue once President-elect Donald Trump takes office, say attorneys at Sidley.
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7 Ways 2nd Trump Administration May Affect Partner Hiring
President-elect Donald Trump's return to the White House will likely have a number of downstream effects on partner hiring in the legal industry, from accelerated hiring timelines to increased vetting of prospective employees, say recruiters at Macrae.
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E-Discovery Quarterly: Rulings On Custodian Selection
Several recent rulings make clear that the proportionality of additional proposed custodians will depend on whether the custodians have unique relevant documents, and producing parties should consider whether information already in the record will show that they have relevant documents that otherwise might not be produced, say attorneys at Sidley.
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EU's AI Act May Lead To More M&A Arbitration
With the EU's Artificial Intelligence Act and its stiff penalties beginning to take effect, companies acquiring AI targets should pay close attention to the provisions in the dispute resolution clauses of their deal documents, say Nelson Goh at Pallas Partners and Benjamin Qiu at EKLJ.
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Series
NY Banking Brief: All The Notable Legal Updates In Q4
In 2024's final quarter, the New York State Department of Financial Services published guidance on mitigating the rising cybersecurity risks of artificial intelligence and remote technology workers with North Korean ties, and the state attorney general launched an antitrust investigation into Capital One's proposed Discover merger, say attorneys at Haynes Boone.
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Series
Exercising On My Peloton Bike Makes Me A Better Lawyer
While I originally came to the Peloton bike for exercise, one cycling instructor’s teachings have come to serve as a road map for practicing law thoughtfully and mindfully, which has opened opportunities for growth and change in my career, says Andrea Kirshenbaum at Littler.
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3 Factors Affecting Retail M&A Deals In 2025
Retailers considering mergers and acquisitions this year face an evolving antitrust environment, including a new administration under President-elect Donald Trump, revised merger guidelines and a precedent set last year by a canceled $8.5 billion handbag merger, say attorneys at DLA Piper.
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FTC Picks Augur Pro-Business Bent For Much Of Economy
President-elect Donald Trump's choice of two top Federal Trade Commission officials suggests a business-friendly climate for a significant portion of the U.S. economy, with noteworthy exceptions of continued scrutiny of healthcare and Big Tech companies, excluding artificial intelligence, say attorneys at BCLP.
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Exploring Venue Strategy For Trump-Era Regulatory Litigation
Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.