Mergers & Acquisitions

  • May 03, 2024

    Hess-Chevron Merger Hit With Class Disclosure Suit In Del.

    A Hess stockholder sued the energy company in Delaware's Court of Chancery over alleged deal disclosure failures in the proposed $53 billion Chevron-Hess merger, adding to a list of complications that include claims by other energy giants to Hess interests.

  • May 03, 2024

    EU OKs Nippon-US Steel Deal As DOJ Causes Delayed Close

    The European Commission on Friday indicated via an annotation on its merger review page that it has given Nippon Steel's controversial $14.9 billion acquisition of U.S. Steel its unconditional approval, a move that comes just a day after the parties announced the deal would be delayed due to further scrutiny from the U.S. Department of Justice.

  • May 03, 2024

    FTC Requests Additional Info On $16.5B Novo-Catalent Deal

    The Federal Trade Commission is seeking additional information on Novo Holdings' planned $16.5 billion acquisition of pharmaceutical services company Catalent in order to examine whether the blockbuster deal passes antitrust muster, according to a Friday securities filing.

  • May 03, 2024

    Chancery OKs Record-Breaking $100M Pattern Energy Deal

    A $100 million settlement ending state and federal court litigation over Pattern Energy Group Inc.'s $6.1 billion go-private sale in 2020 got the nod from Delaware's Court of Chancery on Friday, along with a requested $26 million fee award and two $25,000 incentive awards for the lead shareholder plaintiffs.

  • May 03, 2024

    Ex-Willkie Atty To Lead New Paul Weiss Latin America Practice

    Paul Weiss Rifkind Wharton & Garrison LLP said Friday it has launched a Latin America practice to be led by a former longtime Willkie Farr & Gallagher LLP partner.

  • May 03, 2024

    Tech Security Firm Founder Sues Buyer For Legal Fees In Del.

    The founder of security and information technology service venture Counter Threat Solutions sued the company that acquired it for legal fee advancement in Delaware's Court of Chancery, after accusing the buyer in a Delaware Superior Court suit of fabricating post-closing indemnity claims and refusing to honor payment terms.

  • May 03, 2024

    Debevoise, Davis Polk Guide Windstream, Uniti Merger

    Uniti Group Inc., advised by Davis Polk & Wardwell LLP, on Friday unveiled plans to merge with Debevoise & Plimpton LLP-led telephone service company Windstream Holdings II LLC in a deal that includes a $425 million cash component, $575 million in preferred equity and a minority share in common equity of the combined company.

  • May 03, 2024

    SEC Fines Trump Media's Audit Firm For 'Massive Fraud'

    The U.S. Securities and Exchange Commission said on Friday that it has fined and permanently suspended the public accounting firm of former President Donald Trump's social media company for allegedly running a "sham auditing mill" by failing to meet industry standards in reviewing the financial statements of hundreds of clients.

  • May 03, 2024

    Exxon Closes $60B Pioneer Purchase After FTC Agreement

    Exxon Mobil Corp. said Friday that it has closed its $60 billion acquisition of Pioneer Natural Resources, one day after the Federal Trade Commission gave the oil giant a conditional green light to move ahead with the deal. 

  • May 03, 2024

    US Investors Make $835M Offer For Swedish Legal Info Biz

    The board of Swedish professional information services provider Karnov Group said Friday that it is backing a 9.06 billion Swedish kronor ($835 million) takeover offer from U.S. investment firms Greenoaks Capital Partners LLC and Long Path Partners LP.

  • May 02, 2024

    Whistleblower Claims Would 'Destroy' Autonomy, GC Was Told

    Autonomy's former U.S. general counsel testified Thursday in the criminal fraud trial of former CEO Michael Lynch that the company's chief operating officer didn't want a whistleblower's claims to get into court, telling him that while the "law" was on their side, "the facts look bad" and would "destroy Autonomy."

  • May 02, 2024

    DOJ Wants More Info On Controversial US Steel-Nippon Deal

    U.S. Steel revealed Thursday it has received a second request for information from the U.S. Department of Justice about its controversial plan to be sold to Japan's Nippon Steel Corp., but it said the deal is on track to be completed in the second half of this year. 

  • May 02, 2024

    Masimo Hit With Derivative Suit Over Audio Co. Acquisition

    The top brass at medical device company Masimo Corp. has been hit with a shareholder derivative action claiming they harmed the company and "confused" investors by pushing through a $1 billion acquisition of an audio equipment company, allegedly causing a steep drop in stock prices and a $5.1 billion market capitalization loss.

  • May 02, 2024

    Latham, Skadden Grab Spotlight As Large IPOs Surge In April

    Latham & Watkins LLP guided five initial public offerings in April, while Skadden Arps Slate Meagher & Flom LLP advised the company bringing to market the largest IPO of 2024, concluding the busiest month for new listings year to date.

  • May 02, 2024

    Lawmaker Wants Antitrust Probe Of Health Insurance Data Co.

    Sen. Amy Klobuchar, D-Minn., is calling for antitrust enforcers to investigate concerns that MultiPlan and other healthcare data companies are hurting competition by helping health insurers effectively collude when making pricing decisions.

  • May 02, 2024

    House Seeks FTC Info On Scuttled Amazon-IRobot Deal

    The Republican-controlled House Committee on Oversight and Accountability is launching an investigation into the Federal Trade Commission's purported efforts to block Amazon's purchase of iRobot, according to a Wednesday letter from Rep. James Comer, R-Ky.

  • May 02, 2024

    FTC's Designer Fashion Deal Challenge Gets Sept. Hearing

    A New York federal court has scheduled a September hearing for the Federal Trade Commission's request to block luxury fashion holding company Tapestry Inc.'s planned $8.5 billion purchase of Capri Holdings Ltd., a deal that would bring together the Coach, Kate Spade and Michael Kors brands.

  • May 02, 2024

    Microsoft, Activision Seek Del. Court Patch For $68.7B Sale

    Microsoft Corp. and Activision Blizzard petitioned Delaware's Court of Chancery on Thursday for an order validating Activision's already closed but officially "defective" $68.7 billion sale agreement, arguing that the court pointed the two companies to a "solution for missteps in Delaware's General Corporation Law.

  • May 02, 2024

    ADM Investor Says Brass Misled About Growth, SEC Probe

    The current and former top brass of food processing company Archer-Daniels-Midland were hit with a derivative suit in Delaware federal court alleging they provided false information to investors about the company's growth and failed to disclose a U.S. Securities and Exchange Commission's investigation into its nutrition business.

  • May 02, 2024

    Activist Files New Proxy Fight In REIT Takeover Attempt

    Activist investor Blackwells Capital LLC continued its campaign against hospitality executive Monty J. Bennett by separately urging shareholders of Braemar Hotels & Resorts Inc. and an advisory firm that Bennett controls to approve a board shake-up during upcoming annual meetings.

  • May 02, 2024

    Conn. Gaming Co., Bingo Supplier Settle Soured Deal Suit

    A Connecticut gaming company and the bingo products supplier it accused of withholding assets it had promised to sell in a $1.2 million acquisition agreement settled their dispute the day before they began jury selection, according to a new notice filed in federal court.

  • May 02, 2024

    Investors Not Entitled To Info, Sequel Youth Tells Chancery

    A once-thriving chain of youth treatment facilities that came under scrutiny after a private equity firm bought it in 2017 urged Delaware's Court of Chancery on Thursday to toss a lawsuit from two former executives who demanded financial information about their "eviscerated" investments, arguing that the company didn't have to provide it.

  • May 02, 2024

    Immigrant Bond Co. Buyer Wants In On $811M Fine Appeal

    Libre Immigration Services has moved to intervene at the Fourth Circuit to fight an $811 million judgment against companies it recently acquired that the Consumer Financial Protection Bureau sued over abusive immigrant bonding practices.

  • May 02, 2024

    Door Maker Asks To Undo Landmark Divestiture Order

    Door maker Jeld-Wen has asked a Virginia federal court to dismiss an order in a private merger challenge requiring it to sell a manufacturing plant, saying the landscape has changed since the landmark 2018 ruling.

  • May 02, 2024

    Plastic-Film Maker Announces $200M Recapitalization

    Plastic-film maker Transcendia Holdings announced Thursday that it had reached a recapitalization deal that will cut $200 million in debt, provide $114 million in new capital, and hand majority ownership of the company to private equity firm Industrial Opportunity Partners.

Expert Analysis

  • 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.

  • Navigating New Regulations In Healthcare And Other M&A

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    While notice requirements recently enacted in several states are focused on the healthcare industry for now, this trend could extend to other industries as these requirements are designed to allow regulators to be a step ahead and learn more about a transaction long before it occurs, say Kathleen Premo and Ashley Creech at Epstein Becker.

  • Aviation Back On Course, But Keep Seat Belts Fastened

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    While the airline industry finally returned to profitability last year for the first time since the onset of COVID-19, and is poised for historic levels of traffic in 2024, supply chain problems and economic and geopolitical uncertainty persist — so more turbulence may lie ahead, say Kevin Lewis and Bart Biggers at Sidley.

  • Del. Dispatch: Clarification On Fiduciary Duties Of Controllers

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    The Delaware Chancery Court’s January opinion in a Sears Hometown and Outlet Stores' stockholder dispute — holding that a controlling stockholder owes the company and minority shareholders some fiduciary duties when selling shares or voting to change the status quo — suggests instances where investors opposing board decisions should tread carefully, say attorneys at Fried Frank.

  • Healthcare Collabs Can Alleviate Labor, Antitrust Challenges

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    Two major challenges facing hospitals and health systems include labor shortages and increased antitrust scrutiny at both federal and state levels, but collaborative efforts may help with addressing these difficulties, says Sumaya Noush at McDermott.

  • Reimagining Law Firm Culture To Break The Cycle Of Burnout

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    While attorney burnout remains a perennial issue in the legal profession, shifting post-pandemic expectations mean that law firms must adapt their office cultures to retain talent, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • Assessing Merger Guideline Feedback With Machine Learning

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    Large language modeling appears to show that public sentiment matches agency intent around the new merger control guidelines from the Federal Trade Commission and U.S. Justice Department, says Andrew Sfekas at Cornerstone Research.

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