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Mergers & Acquisitions
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December 22, 2025
Trian, General Catalyst Snag Janus Henderson In $7.4B Deal
Asset manager Janus Henderson Group on Monday unveiled plans to be bought by an investor group led by Trian Fund Management and General Catalyst Group Management in an all-cash take-private deal with an equity value of $7.4 billion that was built by four law firms.
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December 22, 2025
Cleary, Orrick Guide Alphabet's $4.75B Data Center Biz Buy
Alphabet Inc. has agreed to pay $4.75 billion to buy Intersect Power, a data center infrastructure developer the Google owner has partnered with for about a year, in a deal advised by Cleary Gottlieb Steen & Hamilton LLP and Orrick Herrington & Sutcliffe LLP, the companies said Monday.
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December 22, 2025
5 Firms Build $8.4B Clearwater Analytics Take-Private
Investment management platform Clearwater Analytics has announced plans to go private after agreeing to be bought by a consortium of investors led by private equity giants Permira and Warburg Pincus in a deal valued at roughly $8.4 billion that was built by five law firms.
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December 22, 2025
Davis Polk-Led Cintas Lobs $5.2B Takeover Bid At UniFirst
Uniform maker Cintas Corp., led by Davis Polk & Wardwell LLP, on Monday revealed that it has submitted a takeover proposal to workwear company UniFirst's board of directors in a deal that would value it at roughly $5.2 billion.
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December 22, 2025
4 Firms Guide Champion Iron's $290M Bid For Rana Gruber
Australian mining company Champion Iron Ltd. said Monday that it will buy Norwegian rival Rana Gruber ASA for 2.93 billion Norwegian kroner ($290 million) to create a global, high-grade iron ore producer.
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December 22, 2025
Weil Helps UK Energy Biz Buy Gulf Coast Oil Co. For $3.2B
Harbour Energy PLC, a producer of oil and gas in the North Sea, said on Monday that it will buy LLOG Exploration for $3.2 billion in a move to give it access to the Gulf of Mexico's rich oil reserves.
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December 19, 2025
Iowa Appeals Schwab Antitrust Deal After Objections
Iowa's attorney general has appealed to the Fifth Circuit a Texas federal judge's final approval of a settlement ending an antitrust class action suit over The Charles Schwab Corp.'s merger with TD Ameritrade, following the Hawkeye State's previous objection claiming the deal offered class members insufficient relief.
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December 19, 2025
Rail Giants Pitch $85B Deal To Transportation Regulators
Union Pacific Corp. and Norfolk Southern Corp. submitted the required application for their planned $85 billion merger on Friday, telling regulators the rail networks have few overlaps and that a combined system will allow freight to move faster and more efficiently across the country.
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December 19, 2025
Hogan Lovells, Cadwalader's Divergent Paths Led To Deal
The blockbuster combination between Hogan Lovells and Cadwalader Wickersham & Taft LLP announced this past week involves two law firms that have charted very different paths in recent years. Here, a look at what events led up to the firms joining together at the deal table.
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December 19, 2025
Dems Push For Scrutiny Of Compass' $1.6B Anywhere Buy
Democratic senators urged the U.S. Department of Justice and the Federal Trade Commission to scrutinize Compass Inc.'s $1.6 billion buy of rival broker Anywhere Real Estate Inc., saying further consolidation could drive commissions higher and squeeze out remaining competitors.
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December 19, 2025
BigLaw And Boutiques Both Shine In 2025's Top 10 Deals
A tight circle of elite law firms guided the way as megadeals roared back with force in 2025, while a small group of specialist and international firms also made their mark across global transactions spanning infrastructure, gaming, pharmaceuticals, artificial intelligence and energy.
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December 19, 2025
Taxation With Representation: Baker Botts, Morgan Lewis
In this week's Taxation With Representation, Trump Media and Technology Group merges with fusion power company TAE Technologies, pharmaceutical company Cencora boosts its stake in cancer care company OneOncology, and Phoenix Financial partners with private equity giant Blackstone to plug billions into various credit strategies.
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December 19, 2025
PE Attys Get Creative As Uncertainty Dampened Deal Market
Private equity firms and their portfolio companies sought more creative ways to complete deals in 2025 as they navigated uncertainty stemming from President Donald Trump's tariffs and other macroeconomic jitters that dampened activity for much of the year.
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December 19, 2025
3 Firms Advise As Sony Nabs Majority Stake In Peanuts Brand
WildBrain has agreed to sell its 41% stake in Peanuts Holdings LLC to Sony Music Entertainment (Japan) Inc. and Sony Pictures Entertainment Inc. for C$630 million in cash, or roughly $457 million, in a deal steered by three law firms.Â
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December 19, 2025
Biomedical Co. Gets Approval For Ch. 11 Auction In January
Eye disease treatment developer Clearside Biomedical on Friday got permission from a Delaware bankruptcy judge for a January auction of its assets after saying it had resolved objections from shareholders and the U.S. Trustee's Office.
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December 19, 2025
Battery Co. Factorial To Go Public Via $1.1B SPAC Deal
Battery technology company Factorial Inc., led by Goodwin Procter LLP, has announced plans to go public by merging with special purpose acquisition company Cartesian Growth Corp. III, advised by Greenberg Traurig LLP, in a deal that values the battery maker at $1.1 billion.
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December 19, 2025
Chancery Keeps Alive Electric Vehicle Co. SPAC Suit
Most counts have gone forward in a Delaware Court of Chancery suit alleging an unfair "blank check" company take-public merger with a since-reorganized electric vehicle company that faced allegedly undisclosed supply chain problems.
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December 19, 2025
BioMarin Inks $4.8B Amicus Buy As Patent Litigation Resolved
BioMarin Pharmaceutical Inc. has agreed to acquire Amicus Therapeutics for $4.8 billion, in a deal bolstered by Amicus' settlement of patent litigation that secures U.S. exclusivity for its Galafold drug until 2037, the companies said Friday.
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December 19, 2025
Simpson Thacher Helps KKR Buy Out Wella For $750M
Beauty heavyweight Coty said Friday that it will sell its remaining 25.8% stake in Wella to KKR for $750 million while keeping the right to proceeds from any further sale or initial public offering of the hair care brand.
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December 18, 2025
The Biggest Rulings From A Busy Year At The 1st Circ.
The nation's smallest federal appellate panel punched above its weight in 2025, grappling with numerous suits against the Trump administration, high-profile criminal appeals, a $34 million legal fee bid and a hotly contested kickback law.
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December 18, 2025
Judge Wants Live Nation Antitrust Trial Limited To 5 Weeks
A New York federal judge nudged the Justice Department and Live Nation during a hearing Thursday to limit next year's antitrust jury trial against the live entertainment giant to no more than five weeks, not the eight the government wants, although he left open the possibility for more time.
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December 18, 2025
Apollo Could Fetch $12B For Atlas Air, And More Rumors
The past week saw no lack of chatter about potential sales, backdoor discussions, fundraises, initial public offerings and activist investor power moves.
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December 18, 2025
EU Approves Bakery Biz Deal With Plant Sales
European enforcers approved Belgian food group Vandemoortele's proposed acquisition of Délifrance SA from French grain cooperative Vivescia, conditioned on the sale of two production facilities for frozen dough products.
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December 18, 2025
Unions Come Out Against Rail Giants' $85B Merger
Two Teamsters unions representing a majority of organized workers at Norfolk Southern and Union Pacific came out in opposition this week to the companies' proposed $85 billion merger, arguing the deal would strangle railroads' competitive angle and drive down safety standards.
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December 18, 2025
Dems Urge Scrutiny Of AT&T, SpaceX Spectrum Deals
Congressional Democrats are pushing Trump administration officials to further scrutinize AT&T and SpaceX's plans to obtain wireless spectrum licenses from the telecommunications company EchoStar.
Expert Analysis
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Series
Law School's Missed Lessons: Client Service
Law school teaches you how to interpret the law, but it doesn't teach you some of the key ways to keeping clients satisfied, lessons that I've learned in the most unexpected of places: a book on how to be a butler, says Gregory Ramos at Armstrong Teasdale.
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US-German M&A Hits Its Stride Despite Economic Headwinds
Against expectations, dealmakers in both the U.S. and Germany are actively seeking investment opportunities in each other's markets, with 2025 shaping up to be the strongest year in recent memory, say attorneys at White & Case.
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How Trump Admin. Is Shifting Biden's Antitrust Merger Enforcement
Antitrust enforcement trends under the Trump administration have included a moderation in the agencies' approach to merger enforcement as compared to enforcers compared to the prior administration, but dealmakers should still expect aggressive enforcement when the agencies believe consumers will be harmed and they expect to win in court, say attorneys at Rule Garza.
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Opinion
Ending Quarterly Reporting Would Erode Investor Protection
President Donald Trump recently called for an end to the long-standing practice of corporate quarterly reporting, but doing so would reduce transparency, create information asymmetries, provide more opportunities for corporate fraud and risk increased stock price volatility, while not meaningfully increasing long-term investments, say attorneys at Bleichmar Fonti.
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Series
Adapting To Private Practice: 3 Tips On Finding The Right Job
After 23 years as a state and federal prosecutor, when I contemplated moving to a law firm, practicing solo or going in-house, I found there's a critical first step — deep self-reflection on what you truly want to do and where your strengths lie, says Rachael Jones at McKool Smith.
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Series
Painting Makes Me A Better Lawyer
Painting trains me to see both the fine detail and the whole composition at once, enabling me to identify friction points while keeping sight of a client's bigger vision, but the most significant lesson I've brought to my legal work has been the value of originality, says Jana Gouchev at Gouchev Law.
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What's At Stake At High Court For Presidential Removal Power
Two pending U.S. Supreme Court cases —Trump v. Slaughter and Trump v. Cook — raise fundamental questions about the constitutional separation of powers, threaten the 90-year-old precedent of Humphrey's Executor v. U.S. and will determine the president's authority to control independent federal agencies, says Kolya Glick at Arnold & Porter.
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Protecting Sensitive Court Filings After Recent Cyber Breach
In the wake of a recent cyberattack on federal courts' Case Management/Electronic Case Files system, civil litigants should consider seeking enhanced protections for sensitive materials filed under seal to mitigate the risk of unauthorized exposure, say attorneys at Redgrave.
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Series
NC Banking Brief: All The Notable Legal Updates In Q3
There were several impactful changes to the financial services landscape in North Carolina in the third quarter of the year, including statutory updates, enforcement developments from Office of the Commissioner of Banks, and notable mergers, acquisitions and branch expansions, say attorneys at Moore & Van Allen.
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Series
Judging Figure Skating Makes Me A Better Lawyer
Judging figure skating competitions helps me hone the focus, decisiveness and ability to process complex real-time information I need in court, but more importantly, it makes me reengage with a community and my identity outside of law, which, paradoxically, always brings me back to work feeling restored, says Megan Raymond at Groombridge Wu.
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What Ethics Rules Say On Atty Discipline For Online Speech
Though law firms are free to discipline employees for their online commentary about Charlie Kirk or other social media activity, saying crude or insensitive things on the internet generally doesn’t subject attorneys to professional discipline under the Model Rules of Professional Conduct, says Stacie H. Rosenzweig at Halling & Cayo.
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Junior Attys Must Beware Of 5 Common Legal Brief Mistakes
Excerpt from Practical Guidance
Junior law firm associates must be careful to avoid five common pitfalls when drafting legal briefs — from including every possible argument to not developing a theme — to build the reputation of a sought-after litigator, says James Argionis at Cozen O'Connor.
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Series
Power To The Paralegals: How And Why Training Must Evolve
Empowering paralegals through new models of education that emphasize digital fluency, interdisciplinary collaboration and human-centered lawyering could help solve workforce challenges and the justice gap — if firms, educators and policymakers get on board, say Kristine Custodio Suero and Kelli Radnothy.
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Series
Playing Softball Makes Me A Better Lawyer
My time on the softball field has taught me lessons that also apply to success in legal work — on effective preparation, flexibility, communication and teamwork, says Sarah Abrams at Baleen Specialty.
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Why Early Resolution Of Employment Liability Claims Is Key
A former Los Angeles fire chief's recent headline-grabbing wrongful termination suit against the city is a reminder that employment practices liability disputes can present risks to the greater business, meaning companies need a playbook for rapid, purposeful action, says Karli Moore at Intact Insurance Specialty Solutions.