Mergers & Acquisitions

  • May 30, 2024

    Chancery Sweeps Away Most Challenges To Broker's Control

    Independent insurance distributor BRP Group Inc. has defeated most stockholder challenges to founder preapproval requirements for company actions, according to a Delaware Court of Chancery ruling upholding a consent and defense agreement established after the company was sued.

  • May 30, 2024

    Divided FTC Won't Delay Kroger-Albertsons In-House Case

    The Federal Trade Commission's three Democrats refused Wednesday to delay the agency in-house challenge to Kroger's $24.6 billion purchase of Albertsons, blaming the grocery giants for their scheduling challenges and drawing a sharp dissent from the FTC's two Republicans.

  • May 30, 2024

    FTC, Novant Ask To Delay In-House Trial On Merger Challenge

    The Federal Trade Commission and Novant Health have asked to postpone an upcoming administrative hearing over the nonprofit's proposed purchase of two North Carolina hospitals, a purchase that regulators are concerned will dampen competition in the region, according to a notice filed in federal court.

  • May 30, 2024

    KKR's $24B NetCo Buy Gets EU Regulatory Approval

    The European Commission said Thursday it has approved KKR & Co.'s planned $23.7 billion acquisition of NetCo from Italian telecommunications provider TIM Group, paving the way for the close of one of the largest deals announced last year. 

  • May 30, 2024

    The 'Not-Postings' Of A Delaware Chancery Court Judge

    Close observers of Delaware's Court of Chancery have recently gotten a new window into the First State's preeminent court of equity: Delaware Vice Chancellor J. Travis Laster, one of seven judges on the court's bench, has recently rejoined LinkedIn.

  • May 30, 2024

    Deals Rumor Mill: Aramco, Double Eagle, WeWork

    Saudi Arabia is planning a stock sale of state-backed oil giant Armaco that could exceed $10 billion, Double Eagle hopes to unload a Permian-based oil producer for $6.5 billion, and Adam Neumman has ended his bid to reacquire WeWork. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • May 30, 2024

    Ex-KPMG Manager Joins Davis+Gilbert As Tax Partner

    A former managing director at KPMG has joined New York law firm Davis+Gilbert LLP as a tax partner in its corporate and transactions practice, Davis+Gilbert announced.

  • May 30, 2024

    US Steel, Nippon Obtain All Non-US Regulatory Approvals

    U.S. Steel Corp. and Nippon Steel Corp. said Thursday they have received all non-U.S. regulatory nods to move ahead with their planned $14.9 billion merger, including from the European Commission and the U.K.'s Competition and Markets Authority.

  • May 30, 2024

    Clifford Chance Steers Brookfield's €6B Energy Biz Purchase

    Brookfield Corp. said on Thursday that it plans to buy French green energy company Neoen SA for €6.1 billion ($6.6 billion) as the Canadian asset manager moves to diversify its business in the global renewables market. 

  • May 29, 2024

    Forescout Investors Win Class Cert. Over Tanked Sale

    A California federal judge agreed to certify a class of shareholders of cybersecurity company Forescout who allege the company deceived investors ahead of a sale that ultimately fell apart, marking the latest win for plaintiffs who previously saw the case dismissed with prejudice three years ago.

  • May 29, 2024

    Chancery Sends Momentus De-SPAC Claims Toward Trial

    A Delaware vice chancellor refused to dismiss any counts Wednesday in a suit filed by investors in the special purpose acquisition company that took commercial space venture Momentus Inc. public in August 2021, with the court noting that the case will be judged on plaintiff friendly entire fairness standards.

  • May 29, 2024

    Bankrupt EV Charger Co. Execs Hid Liquidity Woes, Suit Says

    Three current and former executives of bankrupt electric-vehicle charging infrastructure company Charge Enterprises Inc. face an investor's proposed class action claiming the executives concealed a liquidity crisis involving the company's founder and his investment advisory firm that allegedly precipitated Charge's bankruptcy.

  • May 29, 2024

    Celadon Execs Seek Toss Of TA Dispatch Chancery Suit

    Former executives of now-defunct Celadon Group Inc. who sold its business assets a few months before the transport and logistics company went bankrupt told Delaware's Court of Chancery on Wednesday that a lawsuit from the disgruntled Alabama buyer should be dismissed because it lacks specifics and rehashes already-settled claims.

  • May 29, 2024

    Microsoft's Post-Merger Layoffs Cited In I-Told-You-So Appeal

    A private group of gamers is pointing to Microsoft's recent layoffs of 1,900 Activision and XBox employees as evidence of market harms stemming from Microsoft Corp.'s acquisition of Activision Blizzard Inc., as the group seeks to revive a private antitrust suit challenging the merger in the Ninth Circuit.

  • May 29, 2024

    TikTok Ban Gets Expedited Sept. Hearing Date At DC Circ.

    The D.C. Circuit on Tuesday agreed to expedite the briefing schedule for a constitutional challenge against a federal law banning TikTok from the United States unless it severs its ties with its Chinese parent company, ByteDance Ltd., with oral arguments set to be heard this fall. 

  • May 29, 2024

    Handbag Cos. Seek FTC In-House Delay For Fed. Court Row

    Tapestry and Capri are asking the Federal Trade Commission to delay an in-house challenge to the planned $8.5 billion merger combining the parent companies of Coach and Michael Kors, arguing the FTC's separate request for a preliminary injunction in New York federal court should take precedence.

  • May 29, 2024

    DOJ Requests More Info On $2.2B Employee Screening Deal

    The U.S. Department of Justice has requested more information about employment screening company First Advantage Corp.'s planned $2.2 billion purchase of rival Sterling Check Corp., extending the review period for the merger.

  • May 29, 2024

    3 More Burns & Levinson Attys Join Blank Rome In Boston

    Less than one month after Blank Rome LLP announced it had opened its Boston office with 25 corporate and finance attorneys from Burns & Levinson LLP, another three Burns & Levinson partners have joined the firm.

  • May 29, 2024

    Gibson Dunn, Skadden Guide $3B Merck-EyeBio Deal

    Gibson Dunn-led Merck said Wednesday it has agreed to purchase ophthalmology-focused biotech company Eyebiotech Ltd., or EyeBio, which is represented by Skadden, for up to $3 billion.

  • May 29, 2024

    Womble Bond Adds Veteran Energy Transaction Atty In Mass.

    An experienced corporate transactional attorney has moved stateside from Thailand to join Womble Bond Dickinson in Boston.

  • May 29, 2024

    3 Firms Build $627M Take-Private Sale Of Medical Device Biz

    Medical device company Surmodics Inc. on Wednesday revealed it has agreed to be bought by private equity giant GTCR for $627 million in a take-private deal built by Kirkland & Ellis, Faegre Drinker and Cleary Gottlieb.

  • May 29, 2024

    Wachtell, Kirkland Steer $22.5B ConocoPhillips-Marathon Deal

    Wachtell Lipton Rosen & Katz-advised ConocoPhillips has agreed to acquire Marathon Oil, represented by Kirkland & Ellis LLP, in an all-stock transaction with an enterprise value of $22.5 billion, inclusive of $5.4 billion of debt, the companies said Wednesday. 

  • May 29, 2024

    Royal Mail Owner Accepts £3.6B Bid From Czech Tycoon

    The owner of Royal Mail, the British national postal service, said on Wednesday that it has agreed to a £3.57 billion ($4.52 billion) cash buyout offer by a conglomerate controlled by Czech billionaire Daniel Křetínský.

  • May 29, 2024

    Anglo American Rejects Extension To £38.6B BHP Offer

    British miner Anglo American PLC rejected a last-minute request from BHP Group to extend takeover talks on Wednesday, even though the Australian rival has offered concessions to help sweeten its latest offer of £38.6 billion ($49.3 billion).

  • May 28, 2024

    Autonomy Founder Says HP 'Panicked,' Tried To Unwind Deal

    Autonomy founder Michael Lynch testified Tuesday in a California federal criminal trial over claims he conned HP into overpaying for his company that HP's board "panicked" after news of the acquisition leaked and HP's stock dropped 20%, that HP fired its CEO and that it attempted to back out of the deal.

Expert Analysis

  • Oracle Ruling Underscores Trend Of Mootness Fee Denials

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    The Delaware Chancery Court’s recent refusal to make tech giant Oracle shoulder $5 million of plaintiff shareholders' attorney fees illustrates a trend of courts raising the standard for granting the mootness fee awards once ubiquitous in post-merger derivative disputes, say attorneys at Troutman Pepper.

  • Blocked JetBlue-Spirit Deal Illustrates New Antitrust Approach

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    The U.S. Department of Justice’s recent successful block of a merger between JetBlue Airways and Spirit Airlines demonstrates antitrust enforcers’ updated and disparate approach to out-of-market benefits versus out-of-market harms, say Lisa Rumin and Anthony Ferrara at McDermott.

  • Comparing Corporate Law In Delaware, Texas And Nevada

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    With Elon Musk's recent decision to reincorporate his companies outside of Delaware, and with more businesses increasingly considering Nevada and Texas as corporate homes, attorneys at Baker Botts look at each jurisdiction's foundation of corporate law, and how the differences can make each more or less appealing based on a corporation's needs.

  • Practicing Law With Parkinson's Disease

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    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

  • Opinion

    Aviation Watch: Not All Airline Mergers Hurt The Public

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    The U.S. Department of Justice's actions to block recent attempted airline mergers have been touted as serving the interests of the consumers — but given the realities of the deregulated air travel market, a tie-up like the one proposed between JetBlue and Spirit might have been a win for the public, says Alan Hoffman, a retired attorney and aviation expert.

  • The Merger Cases That Will Matter At ABA Antitrust Meeting

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    While the American Bar Association's Antitrust Spring Meeting this week will cover all types of competition law issues in the U.S. and abroad, expect the federal agencies' recent track record in merger enforcement to be a key area of focus on the official panels and in cocktail party chatter, say attorneys at Freshfields.

  • Calif. Verdict Showcases SEC's New 'Shadow Trading' Theory

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    Last week's insider trading verdict, delivered against biopharmaceutical executive Matthew Panuwat by a California federal jury, signals open season on a new area of regulatory enforcement enabled by the U.S. Securities and Exchange Commission's shadow trading theory, say Perrie Weiner and Aaron Goodman at Baker McKenzie.

  • Climate Disclosure Mandates Demand A Big-Picture Approach

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    As carbon emissions disclosure requirements from the European Union, California and the U.S. Securities and Exchange Commission take effect, the best practice for companies is not targeted compliance with a given reporting regime, but rather a comprehensive approach to systems assessment and management, says David Smith at Manatt.

  • Series

    Playing Hockey Makes Me A Better Lawyer

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    Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.

  • Considerations For Evaluating IP Risks In Cannabis M&A

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    Due to the patchwork of state cannabis laws in the U.S., investors and businesses acquiring intellectual property must assess whether a trademark portfolio possesses any vulnerabilities, such as marks that are considered attractive to children or third-party claims of trademark infringement, say Mary Shapiro and Nicole Katsin at Evoke Law.

  • A Snapshot Of The Evolving Restrictive Covenant Landscape

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    Rachael Martinez and Brooke Bahlinger at Foley highlight recent trends in the hotly contested regulation and enforcement of noncompetition and related nonsolicitation covenants, and provide guidance on drafting such provisions within the context of stand-alone employment agreements and merger or acquisition transactions.

  • For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill

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    A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.

  • Private Capital Considerations Amid Market Revival

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    As improved market conditions position traditional financing to regain lost market share, it's also worth considering the pace and structure of private credit and other forms of private capital, especially when seeking to set unique terms or build new corporate relationships, say attorneys at Skadden.

  • Opinion

    Requiring Leave To File Amicus Briefs Is A Bad Idea

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    A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.

  • 4 Ways To Motivate Junior Attorneys To Bring Their Best

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    As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.

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