Mergers & Acquisitions

  • May 09, 2024

    BBVA €12B Offer For TSB Owner Sabadell Turns Hostile

    Spanish banking giant BBVA launched a hostile takeover of Banco de Sabadell on Thursday, approaching shareholders directly with a €12 billion ($12.8 billion) all-share deal after being rebuffed by the rival bank's board.

  • May 08, 2024

    Mayer Brown, Latham Steer Proficient Auto's $215M IPO

    Proficient Auto Logistics Inc. on Wednesday priced a $215 million initial public offering within its range, represented by Mayer Brown LLP and underwriters' counsel Latham & Watkins LLP, in an IPO that will help the specialized freight company combine five logistics businesses into one publicly traded entity. 

  • May 08, 2024

    Truth Social Backer's Insider Trading Alibi In Jury's Hands

    A Manhattan federal jury weighed charges Wednesday against a Florida investor accused of fueling a $23 million insider trading scheme that exploited confidential plans to take Truth Social public, after the defense argued it was someone else who tipped speculators.

  • May 08, 2024

    99 Cents Beats Creditor Objection To Get OK On $61M DIP

    A Delaware bankruptcy judge on Wednesday approved discount store 99 Cents Only's full $60.8 million Chapter 11 financing deal after rejecting a group of noteholders' objection to the relief, finding an intercreditor agreement barred the group from blocking debtor-in-possession funding.

  • May 08, 2024

    Cannabis Law Firm Accused Of $5M Error In Pot Shop Deal

    A cannabis retailer has sued Vicente LLP in Massachusetts state court, alleging the law firm negligently drafted an amendment to a purchase agreement that prevented the company from recovering nearly $5 million in damages when the deal fell through.

  • May 08, 2024

    Shockwave Medical Investor Challenges $13B Deal With J&J

    A shareholder of cardiovascular treatment company Shockwave Medical Inc. is attempting to halt the company's "unfair" $13 billion proposed transaction with Johnson & Johnson by filing a securities suit, saying the transaction will only benefit company insiders and damage public shareholders.

  • May 08, 2024

    Icahn, Xerox Investors Settle Nixed HP Merger Suit For $2.2M

    Carl Icahn will pay $2.2 million to Xerox under an agreement reached with a pair of the company's stockholders, who accused the billionaire investor in a consolidated shareholder derivative lawsuit of trading on non-public information regarding Xerox's now-doomed bid to acquire HP Inc. for $33 billion.

  • May 08, 2024

    Japanese Crypto Exchange Coincheck Eyes US Listing In '24

    Simpson Thacher-led Japanese cryptocurrency exchange Coincheck Group BV plans to complete a long-awaited merger with a special-purpose acquisition company by the year's second or third quarter, a combination that would make it the second U.S.-listed crypto venue.

  • May 08, 2024

    Reed Smith Lands Kirkland Corporate Pro In Houston

    A former Kirkland & Ellis partner has joined Reed Smith LLP's Houston office as a capital markets and corporate lawyer, the firm announced Wednesday.

  • May 08, 2024

    Gibson Dunn Adds Ex-Wachtell, Paul Weiss Attys As Partners

    Gibson Dunn & Crutcher LLP has added a former Wachtell Lipton Rosen & Katz corporate attorney and a former Paul Weiss Rifkind Wharton & Garrison LLP lawyer who specializes in liability management as partners in New York, the firm has announced.

  • May 08, 2024

    HSF, Ashurst-Led Ardonagh Buys Insurer For $1.5B

    U.K. insurance broker Ardonagh Group Ltd. said on Wednesday it has agreed to acquire Australia-based PSC Insurance Group Ltd. in a transaction worth $2.25 billion Australian dollars ($1.48 billion), to help it expand into new markets.

  • May 07, 2024

    Novant CEO Vows To Improve Hospitals Facing FTC Scrutiny

    Novant Health kicked off its defense Tuesday in the Federal Trade Commission's $320 million merger challenge with testimony from its longtime CEO, who vocalized the health system's promise to reinvest in the two struggling hospitals at the center of the case.

  • May 07, 2024

    Fashion Cos. Say FTC Bid To Ax $8.5B Deal 'Makes No Sense'

    The Federal Trade Commission's move to block the owner of Coach and Kate Spade from buying the owner of Michael Kors and Jimmy Choo for $8.5 billion "makes no sense," the companies argued in response, saying they aren't the only handbag brands in the game.

  • May 07, 2024

    Canopy Growth Expands In US With Wana, Jetty Buys

    Canadian cannabis company Canopy Growth announced Tuesday that its U.S. division has exercised options to acquire two American companies as part of its goal to establish a domestic "brand-focused powerhouse" — acquisitions for which Canopy spent nearly $370 million.

  • May 07, 2024

    Trump Media Co-Founders Seek Chancery Contempt Order

    Two early investors in Trump Media & Technology Group have called for a Delaware Court of Chancery contempt ruling against Donald Trump's Truth Social media company, saying its attempt to claim their shares in a Florida lawsuit contradicted earlier representations in Delaware.

  • May 07, 2024

    MultiPlan, Insurance Cos. Accused Of Algorithmic Collusion

    A medical provider has lodged a proposed class action in Illinois federal court accusing MultiPlan and major insurance companies, including UnitedHealth, Aetna, Kaiser Permanente and Cigna, of using pricing tools to systematically underpay out-of-network providers.

  • May 07, 2024

    Venable Trade Co-Chair Shares Hot Takes On US Steel-Nippon

    Back in December, Venable LLP partner Ashley Craig, co-chair of the firm's international trade group, spoke with Law360 just after U.S. Steel disclosed its agreement to be sold to Nippon Steel. Now, he shares his thoughts on the latest developments, including the White House coming out forcefully against the deal and the U.S. Department of Justice launching a probe into it.

  • May 07, 2024

    Colo. Judge Iffy On DOJ's Missive In Kroger Merger Challenge

    A Colorado state judge said he was unsure Tuesday about how to handle the Department of Justice's recent filing defending the state's authority to challenge Kroger's $24 billion merger with Albertsons, as Kroger claimed federal regulators were flip-flopping their antitrust stance.

  • May 07, 2024

    Everton Investors Bemoan Soccer Team Sale Amid Fraud Suit

    The Everton FC Shareholders Association wants to slam the brakes on the "farce" sale of its Premier League soccer team to private equity firm 777 Partners LLC, arguing they are not qualified owners, a demand that comes as the firm faces allegations of fraud.

  • May 07, 2024

    $55M Hospital Merger Suit Deal OK'd, UHC Objection Rejected

    An Illinois federal judge has given final approval to a $55 million class settlement, with $23.5 million in legal costs and attorney fees, resolving patient antitrust claims over a NorthShore University HealthSystem merger, all while finding that United Healthcare Services had no standing to object to the deal.

  • May 07, 2024

    Plastics Recycler Sued In Del. After Stock Drop, Investigations

    A PureCycle Inc. stockholder has launched a multicount derivative suit against the plastics recycling company's officers and directors in Delaware's Court of Chancery, seeking damages tied to a stock drop, alleged disclosure failures and insider dealings before and after a 2021 take-public merger.

  • May 07, 2024

    Steward Health Gets Ch. 11 Loan, Says It Plans Hospital Sales

    A Texas bankruptcy judge Tuesday allowed Steward Health Care to take out $75 million in Chapter 11 financing to meet its next-day payroll after being told the hospital chain plans to sell facilities to pay down its $9 billion in debt.

  • May 07, 2024

    Truth Social Investor Grilled By Feds At Insider Trading Trial

    A Florida investment pro on trial for allegedly exploiting confidential plans to take Truth Social public in a $23 million insider trading case was challenged Tuesday by prosecutors on the timing of trades and communications before the "special" media deal.

  • May 07, 2024

    Prepetition Waivers Sway Invitae Judge On Kirkland Hire

    A New Jersey bankruptcy judge approved the retention of Kirkland & Ellis LLP as bankruptcy counsel for debtor Invitae Corp. Tuesday, the same day he approved a $239 million sale of its assets to Labcorp.

  • May 07, 2024

    Spirit Aerosystems Eyes Buyout By Boeing Amid Safety Probe

    Boeing is in talks to acquire aerospace supplier Spirit AeroSystems, which took a first-quarter hit partly due to Boeing 737 production delays and a safety investigation resulting from a midair 737 door plug blowout in January, Spirit announced Tuesday.

Expert Analysis

  • How Firms Can Ensure Associate Gender Parity Lasts

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    Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.

  • 7 Common Myths About Lateral Partner Moves

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    As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are flat out wrong, says Dave Maurer at Major Lindsey.

  • 5 Tips For Policyholders Arbitrating R&W Insurance Claims

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    With more representations and warranties insurance disputes being arbitrated, policyholder counsel should note issues that are unique to RWI claims, including those of privilege, priority and preserving subrogation, says Micah Skidmore at Haynes Boone. 

  • Series

    Cheering In The NFL Makes Me A Better Lawyer

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    Balancing my time between a BigLaw career and my role as an NFL cheerleader has taught me that pursuing your passions outside of work is not a distraction, but rather an opportunity to harness important skills that can positively affect how you approach work and view success in your career, says Rachel Schuster at Sheppard Mullin.

  • What To Know About OCC Proposals For Bank Merger Review

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    The Office of the Comptroller of the Currency's proposed changes to the agency's bank merger review process could exacerbate industry concerns with long and unpredictable processing periods because the proposal is ambiguous with respect to how the OCC will view certain transactions, say attorneys at Simpson Thacher.

  • 6 Pointers For Attys To Build Trust, Credibility On Social Media

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    In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.

  • 9 Considerations For Divestitures, Carveouts And Spinouts

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    Amid new economic optimism, data protection, transitional services and seven other considerations can help legal practitioners untangle complex divestitures, carveouts and spinouts to unlock value for corporate sellers, say Kimberly Petillo-Décossard and Kristen Rohr at White & Case.

  • A Post-Mortem Analysis Of Stroock's Demise

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    After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.

  • Mitigating The Risk Of Post-Closing M&A Earnout Disputes

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    Today's uncertain deal environment makes a well-crafted earnout an excellent way for parties to accomplish a desired transaction that would not otherwise occur, but transacting parties also need to take key steps to avoid the risk of post-closing disputes that earnouts can present, say Chad Barton and Claire Lydiard at Holland & Knight.

  • Planning For Stymied HSR Filings At FTC If Shutdown Occurs

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    If the government were to shut down in early March, the inability to submit Hart-Scott-Rodino filings with the Federal Trade Commission would grind transactions to a halt, and parties should consider numerous implications as they are negotiating or planning to close pending transactions, say attorneys at DLA Piper.

  • Texas Ruling Clarifies That Bankruptcy Shields LLC Rights

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    A Texas bankruptcy court’s recent ruling in In re: Envision makes it clear that the Bankruptcy Code preempts a section of Delaware state law that terminates a member’s interest in an LLC upon a bankruptcy filing, clarifying conflicting case law, say Larry Halperin and Joon Hong at Chapman and Cutler.

  • Series

    Coaching High School Wrestling Makes Me A Better Lawyer

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    Coaching my son’s high school wrestling team has been great fun, but it’s also demonstrated how a legal career can benefit from certain experiences, such as embracing the unknown, studying the rules and engaging with new people, says Richard Davis at Maynard Nexsen.

  • What To Know About RWI In Acquisition And Divestiture Deals

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    As a slower pace of merger activity turns underwriters toward new industries, representations and warranties insurance policies are increasingly being written for acquisition and divestiture energy deals, making it important for contracting parties to understand how the RWI underwriting process works in this new sector, say attorneys at Haynes Boone.

  • SG's Office Is Case Study To Help Close Legal Gender Gap

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    As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.

  • The Latest Antitrust Areas For In-House Counsel To Watch

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    The U.S. Department of Justice and the Federal Trade Commission's increasingly aggressive approach to antitrust enforcement means in-house counsel should closely monitor five key compliance issues, say attorneys at Squire Patton.

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