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Mergers & Acquisitions
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									October 14, 2025
									Covington, Sidley Guide $700M BioCryst Allergic Disease DealBioCryst Pharmaceuticals Inc. will purchase Astria Therapeutics Inc., a biopharmaceutical company focused on therapies for allergic and immunologic diseases, in a cash and stock deal worth about $700 million, the companies announced Tuesday. 
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									October 14, 2025
									Wachtell, Latham Steer $8.2B Timber Merger Of EqualsRayonier Inc. and PotlatchDeltic Corp. said Tuesday they have agreed to merge in an all-stock deal that will create an $8.2 billion entity and one of North America's largest publicly traded timber and wood products companies. 
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									October 14, 2025
									Petershill To Sell Stake In VC Firm To Goldman SachsPetershill Partners PLC said Tuesday that it has agreed to sell a majority of its stake in Industry Ventures to Goldman Sachs as a part of the global investment heavyweight's $965 million takeover of the venture capital investor. 
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									October 14, 2025
									Malibu Life To Buy Texan Life Insurer TruSpire For $45MMalibu Life Holdings Ltd. said Tuesday that it will buy life and retirement insurance business TruSpire from Mutual of America Life Insurance Co. for $45 million to enter the U.S. direct annuity issuance business. 
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									October 13, 2025
									Kirkland-Led Warburg Pincus To Buy Software Co. For €700MPrivate equity group Warburg Pincus LLC said Monday it has agreed to buy PSI, a German software company, for approximately €702 million ($812 million), to increase its presence in the growing global energy and industrial technology sector. 
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									October 13, 2025
									7 Firms Guide €16B Merger Of UK, Greek Lottery OperatorsAllwyn International AG, the Swiss operator of the U.K. National Lottery and a Greek betting business said Monday that they would merge to form a multinational gambling group valued at €16 billion ($18.5 billion). 
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									October 10, 2025
									Delta, Aeromexico Say USDOT Erred In Blocking PartnershipDelta Air Lines and Aeromexico have asked the Eleventh Circuit to vacate the U.S. Department of Transportation's order terminating approval of their joint venture and ordering them to dismantle it by January, according to a petition for review posted to the case docket Friday. 
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									October 10, 2025
									DOJ Can't Pause Review Of UnitedHealth Deal Amid ShutdownA Maryland federal judge rejected the U.S. Department of Justice's bid to stay its recently settled case with UnitedHealth over the company's merger with Amedisys because of the government shutdown and lapse in appropriations, ruling that a stay would impede the DOJ's ability to evaluate the public interest in the settlement. 
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									October 10, 2025
									Seyfarth Eyes Middle-Market Bounce As Megadeals DominateWhile multibillion-dollar mergers look good in headlines and have fueled some broader market optimism, Seyfarth attorneys told Law360 on Friday that the middle-market door has yet to fully swing open for a true mergers and acquisitions revival. 
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									October 10, 2025
									4 Firms Build $972.6M Concrete Biz SPAC MergerConcrete Partners Holding LLC has unveiled plans to go public through a merger with special purpose acquisition company Haymaker Acquisition Corp. 4 in a deal that was built by four law firms and values the combined company at $972.6 million. 
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									October 10, 2025
									Covington, Goodwin Guide Bristol Myers' $1.5B Orbital BuyBristol Myers Squibb plans to acquire privately held Orbital Therapeutics for $1.5 billion in cash, aiming to expand its pipeline in cell- and RNA-based therapies for autoimmune diseases, the companies announced Friday. 
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									October 10, 2025
									DOJ Scrutiny Sparks Change To $500M Material Analysis DealOnto Innovation Inc. removed a product line from its planned deal to purchase a materials analysis business from Semilab International after the U.S. Department of Justice requested additional information to review the merger, reducing the purchase price to $495 million. 
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									October 10, 2025
									X Corp. Workers Seek Redo On Severance Claims In Del.Six former X Corp. employees have argued in a lawsuit naming billionaire Elon Musk that a federal circuit judge was "manifestly looking in the wrong place" when he found that those who sued for severance benefits lacked standing for their claims after Twitter's merger with X Corp. 
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									October 10, 2025
									Prospect Medical Gets OK For $45M Yale Health Deal In Ch. 11A Texas bankruptcy judge Friday approved a $45 million settlement between Yale New Haven Health Services Corp. and Prospect Medical that ends a legal battle over failed hospital sales, as Prospect works toward exiting Chapter 11. 
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									October 10, 2025
									No Taxes On $137M Failed Merger Payment, UK Court RulesA British microchip company doesn't owe taxes on $137 million it received from a U.S. company after a failed merger, a U.K. court ruled, rejecting HM Revenue & Customs's contention that the payment constituted a taxable disposal of assets. 
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									October 10, 2025
									SEC Guidance Aims To Ease IPO Process During ShutdownAs the federal government shutdown lingers, the U.S. Securities and Exchange Commission has updated its guidance to advise companies on how they can still move forward with initial public offerings. 
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									October 10, 2025
									Taxation With Representation: Sullivan, MoFo, FreshfieldsIn this week's Taxation With Representation, Fifth Third Bancorp acquires Comerica in an all-stock deal, Qualtrics buys experience analytics firm Press Ganey Forsta, and SoftBank buys ABB's robotics division. 
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									October 10, 2025
									UK Litigation Roundup: Here's What You Missed In LondonThis past week in London has seen Paddington Bear's creators and Studio Canal sue the company behind Spitting Image, Blackpool Football Club's former owner Owen Oyston bring a fresh claim against the club, and Mishcon de Reya sue a Saudi investment group. 
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									October 10, 2025
									Rite Aid Fires Back At Claims It Broke CVS Sale DealBankrupt drugstore chain Rite Aid Friday defended its decision to not pay for druggist insurance to cover ex-employees at pharmacies it has sold to former competitor CVS, while saying CVS has breached the sale deal itself by withholding its final payment. 
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									October 10, 2025
									Freshfields Guides BASF On €7.7B Sale Of Coatings Biz StakeGerman chemicals producer BASF has agreed to sell a majority interest in its coatings division to investment company Carlyle and the Qatar Investment Authority, in a transaction that values the offloaded company at €7.7 billion ($8.9 billion), the companies said on Friday. 
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									October 10, 2025
									Warburg Pincus Gets More Time For JTC Bid DecisionJTC said Friday that Warburg Pincus LLC has been given a further two weeks to say whether it plans to make an offer to acquire the professional services company. 
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									October 09, 2025
									Teamsters Want Court To Reconsider Maverick Gaming SaleA Teamsters local asked a Texas bankruptcy judge to rethink his order permitting RunItOneTime LLC to sell assets to a company managed by one of its founders, saying the bankruptcy court lacked jurisdiction to decide that the two weren't essentially the same business. 
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									October 09, 2025
									Voyager Judge Won't Dismiss Contract Claims In Binance SuitA New York bankruptcy judge said Thursday he expected to deny a request by Binance.US to dismiss Voyager Digital's breach of contract claims stemming from a collapsed asset purchase agreement between the two cryptocurrency ventures. 
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									October 09, 2025
									Vestis Shareholder Alleges Deception Before Aramark SpinoffExecutives and directors of uniform supplier Vestis Corp. were hit this week with a shareholder's derivative suit accusing them of concealing Vestis was underfunded prior to being spun off by food services giant Aramark in 2023, leaving Vestis unable to grow its revenue and retain customers. 
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									October 09, 2025
									Q3 Notches Biggest Megadeal Quarter In Three YearsThe value of global mergers and acquisitions worth $10 billion or more hit $289.5 billion in the third quarter, the highest since the second quarter of 2022, according to a report provided by S&P Global Market Intelligence on Thursday. 
Expert Analysis
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								Opinion Aviation Watch: Liability Lessons From 737 Max Blowout  The National Transportation Safety Board's recently released report on the 2024 door plug blowout on board a Boeing 737 Max airliner helps illuminate how a company's strategic mistakes can lead to flawed decision-making and supply chain oversight failures, ultimately increasing regulatory and legal exposure, says Alan Hoffman, a retired attorney and aviation expert. 
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								Opinion Sometimes Int'l Competition Should Trump Antitrust Concerns.jpg)  The U.S. Justice Department's approval of HPE's $14 billion acquisition of Juniper Networks shows that a merger that significantly enhances innovation and competitiveness may serve consumer and national interests despite marginally increasing industry concentration, says John Reeves at Reeves Law. 
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								Divest Order Shows How Security Fears Extend CFIUS Scope  A recent White House order forcing a Chinese company to divest its 2020 acquisition of a U.S. audiovisual supplier demonstrates the Committee on Foreign Investment in the United States’ growing power to sink foreign transactions over national security concerns — and the enormous risks to U.S. companies from such reviews, say attorneys at Bass Berry. 
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								Series Quilting Makes Me A Better Lawyer  Turning intricate patterns of fabric and thread into quilts has taught me that craftsmanship, creative problem-solving and dedication to incremental progress are essential to creating something lasting that will help another person — just like in law, says Veronica McMillan at Kramon & Graham. 
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								SDNY Ruling Reinforces Joint Steering Committee Obligations.jpg)  The recent Southern District of New York decision in ChemImage v. Johnson & Johnson makes joint steering committees a valuable tool in strategic relationships, as provisions for such committees can now be wielded to demand attention to core issues, say Lisa Bernstein at the University of Chicago Law School, and Reginald Goeke and Brad Peterson at Mayer Brown. 
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								What 2 Profs Noticed As Transactional Law Students Used AI  After a semester using generative artificial intelligence tools with students in an entrepreneurship law clinic, we came away with numerous observations about the opportunities and challenges such tools present to new transactional lawyers, say professors at Cornell Law School. 
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								Rebuttal BigLaw Settlements Should Not Spur Ethics Deregulation  A recent Law360 op-ed argued that loosening law firm funding restrictions would make BigLaw firms less inclined to settle with the Trump administration, but deregulating legal financing ethics may well prove to be not merely ineffective, but counterproductive, says Laurel Kilgour at the American Economic Liberties Project. 
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								5 Ways Lawyers Can Earn Back The Public's Trust  Amid salacious headlines about lawyers behaving badly and recent polls showing the public’s increasingly unfavorable view of attorneys, we must make meaningful changes to our culture to rebuild trust in the legal system, says Carl Taylor at Carl Taylor Law. 
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								Series Hiking Makes Me A Better Lawyer  On the trail, I have thought often about the parallels between hiking and high-stakes patent litigation, and why strategizing, preparation, perseverance and joy are important skills for success in both endeavors, says Barbara Fiacco at Foley Hoag. 
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								Series Law School's Missed Lessons: Negotiation Skills  I took one negotiation course in law school, but most of the techniques I rely on today I learned in practice, where I've discovered that the process is less about tricks or tactics, and more about clarity, preparation and communication, says Grant Schrantz at Haug Barron. 
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								Opinion Andreessen Horowitz's Take On Delaware Is Misguided  Hostility toward incorporation in Delaware, as expressed in Andreessen Horowitz's recent announcement that it has moved its primary business from the First State to Nevada, is based on a basket of arguments that fail to stand up to harsher scrutiny, say attorneys at Alto Litigation. 
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								ESG-Focused Activism Persists Despite Proxy Curbs  Shareholder activism focused on environmental, social and governance factors appears poised to continue, despite the U.S. Securities and Exchange Commission's recent move toward exclusions in proxy voting proposals around ESG, say attorneys at Mintz. 
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								Opinion Bar Exam Reform Must Expand Beyond A Single Updated Test  Recently released information about the National Conference of Bar Examiners’ new NextGen Uniform Bar Exam highlights why a single test is not ideal for measuring newly licensed lawyers’ competency, demonstrating the need for collaborative development, implementation and reform processes, says Gregory Bordelon at Suffolk University. 
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								A Simple Way Courts Can Help Attys Avoid AI Hallucinations  As attorneys increasingly rely on generative artificial intelligence for legal research, courts should consider expanding online quality control programs to flag potential hallucinations — permitting counsel to correct mistakes and sparing judges the burden of imposing sanctions, say attorneys at Lankler Siffert & Wohl and Connors. 
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								Opinion SEC Should Restore Its 2020 Proxy Adviser Rule  Due to concerns over proxy advisers' accuracy, reliability and transparency, the U.S. Securities and Exchange Commission should reinstate its 2020 rule designed to suppress the influence that they wield in shareholder voting, says Kyle Isakower at the American Council for Capital Formation.