Mergers & Acquisitions

  • April 12, 2024

    US, EU Antitrust Officials Agree On Much, Not Sustainability

    The leaders of the U.S. and European antitrust agencies said Friday their views are broadly aligned on many competition policy issues, though they also outlined opposing approaches to companies that want to collaborate on sustainability projects.

  • April 12, 2024

    S. Korea Must Pay Mason $32M In Samsung Merger Fight

    An international tribunal ordered South Korea to pay Mason Capital Management LLC $32 million in a long-running investor-state suit filed by the New York-based hedge fund over the 2015 merger of two Samsung affiliates, according to the South Korea Ministry of Justice.

  • April 12, 2024

    TRO Won't Save Auto Supplier From Fallout, Judge Says

    A Colorado federal judge on Friday denied an auto part supplier's bid to force a business partner to follow through on an exclusivity deal, ruling that a temporary restraining order may not prevent the supplier from having to shut down a facility.

  • April 12, 2024

    Hedge Fund Fires Back At Hotel REIT With Proxy Contest Suit

    Blackwells Capital LLC has fired back at Braemar Hotels & Resorts Inc. with a lawsuit against the hotel REIT and its board chair Monty Bennett, seeking a green light to move forward with a campaign to place its own candidates on the company's board.

  • April 12, 2024

    FTC Taking Deeper Look At $35B Synopsys-Ansys Merger

    The Federal Trade Commission is opening an in-depth review of Synopsys' $35 billion acquisition of fellow software company Ansys, with Synopsys telling investors that the agency had issued a "second request" for information from both companies.

  • April 12, 2024

    DOJ Must Cut Through Political Noise In US Steel Probe

    The U.S. Department of Justice has its work cut out for it as it conducts a probe of Nippon Steel's planned $14.9 billion takeover of U.S. Steel, a potentially drawn out process that experts say will test the antitrust division's ability to remain objective in the face of immense pressure from President Biden, an influential union, and a concurrent CFIUS review. 

  • April 12, 2024

    US Steel Stockholders Greenlight $14.9B Sale To Nippon

    U.S. Steel said Friday that its shareholders have "overwhelmingly" approved the American steel company's nearly $15 billion takeover by Japan's Nippon Steel, a positive development in a deal that's otherwise received a high degree of political and regulatory scrutiny. 

  • April 12, 2024

    Lionsgate Ups PIPE To $225M Before $4.6B SPAC Merger

    Entertainment and production giant Lionsgate on Friday is raising the amount of its private investment in public equity related to its planned $4.6 billion merger with special purpose acquisition company Screaming Eagle Acquisition Corp. to $225 million, according to a filing with the U.S. Securities and Exchange Commission.

  • April 12, 2024

    Trump Media Attys Flag Co-Founders' Del. Suit Expansion

    Attorneys for Trump Media & Technology Group and its insiders have objected to what they say is an attempt by two co-founders to secure fast-tracking of an expanded but still-sealed Chancery Court lawsuit initially focused on share-dilution claims against company insiders.

  • April 12, 2024

    Off The Bench: Ohtani 'Victim' In Theft, Arbitration Nod To NFL

    In this week's Off The Bench, Shohei Ohtani looks to get off the hook on sports-betting allegations while his former interpreter faces charges, the NFL wins a critical court victory in the Brian Flores lawsuit, and troubled WWE founder Vince McMahon cuts even more financial ties with the company.

  • April 12, 2024

    HomeStreet Hit With Shareholders Suit Over FirstSun Merger

    Banking company HomeStreet Inc. has been hit with a proposed class action alleging that it failed to disclose details about the sale process of its merger with FirstSun Capital Bancorp., saying that the company entered into the agreement with "little to no consideration" to any of its shareholders.

  • April 12, 2024

    EU Approves Biotech Co. Illumina's Plan To Divest Grail

    European Union antitrust authorities on Friday approved Illumina's plan to sell off Grail, the latest development in a saga that saw the biotech company reverse course and agree to offload the cancer-screening company after authorities claimed the reacquisition was completed "unlawfully."

  • April 12, 2024

    Hornblower Gets OK For Creditor Vote On Ch. 11 Plan

    A Texas bankruptcy judge on Friday sent Hornblower Holdings' Chapter 11 plan out for a creditor vote after hearing the cruise and tour operator had resolved creditor objections to its plan disclosure statement.

  • April 12, 2024

    UK To Probe Norwegian Oil & Gas Data Mega-Merger

    The U.K.'s Competition and Markets Authority said on Friday it has launched an inquiry into the proposed purchase of Norwegian seismic data specialist PGS by a subsidiary of its domestic rival TGS, which supplies data to energy companies.

  • April 11, 2024

    Autonomy Became Less Transparent Before Sale, Jury Told

    An ex-market analyst testifying Thursday in a California criminal trial over claims that former Autonomy CEO Michael Lynch duped HP into buying the British company for $11.7 billion told jurors that the company became less forthcoming about some of its accounting a couple of years before the sale.

  • April 11, 2024

    FTC 'Hopeful' Merger Judges Can See Past Market Definition

    The Federal Trade Commission's top antitrust enforcer emphasized Thursday that the FTC and Justice Department's new merger guidelines could facilitate transaction challenges based solely on "direct" competitive effects, regardless of what market definition numbers indicate.

  • April 11, 2024

    Flopped Casino SPAC Investor Sues In Del. To Block Payout

    An investor in a special purpose acquisition company that made a doomed, $2.7 billion effort to buy a casino in the Philippines has asked Delaware's Court of Chancery to prevent the SPAC from redeeming its outstanding shares, arguing it would violate Delaware law because the SPAC is insolvent.

  • April 11, 2024

    Nogin Can Get Another $3M In Ch. 11 Cash To Get Plan Done

    E-commerce company Nogin Inc. received permission Thursday from a Delaware bankruptcy court to draw another $3 million in Chapter 11 financing as it continues working toward implementing its court-approved restructuring plan.

  • April 11, 2024

    Arax Buys US Capital Wealth In Latest Asset Manager Merger

    Wealth management platform Arax Investment Partners, advised by Fried Frank Harris Shriver & Jacobson LLP, announced on Thursday that its assets under management will grow to $16 billion following its acquisition of independent wealth management firm U.S. Capital Wealth Advisors, in a deal marking the latest in a string of mergers between asset managers.

  • April 11, 2024

    Investors Get OK For $111M Ponzi Case Receiver Passed On

    A Colorado federal judge has given the green light for a group of investors to seek over $111 million from a forex-focused financial technology firm in the U.K. and its affiliate, in a lawsuit alleging they played an instrumental role in a scheme that duped investors and drew the attention of U.S. securities regulators and prosecutors.

  • April 11, 2024

    Deals Rumor Mill: US Steel, Germany's Stada, Paramount

    The DOJ opens a probe into Nippon’s proposed $14.9 billion takeover of US Steel, German drugmaker Stada explores a sale, and Paramount and Skydance are hashing out potential deal terms. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • April 11, 2024

    Del. Justices OK Denial Of Icahn-Illumina Midcase Appeal Bid

    Billionaire investor Carl Icahn may not put his Chancery Court litigation against biotechnology company Illumina Inc.'s board on hold for a review of a decision that struck portions of the complaint that were based on confidential information, Delaware's Supreme Court said Thursday, upholding the lower court's rejection of the midcase appeal.

  • April 11, 2024

    State Enforcers: Not Joining Fed Cases No Sign Of Opposition

    Several state enforcers said Thursday they choose which antitrust cases being brought by federal enforcers they join based on a number of factors, and it doesn't mean they are opposed to a case if they decide not to join.

  • April 11, 2024

    Kirkland, Jones Day Build $787.5M Sale Of Steris' Dental Unit

    Medical device company Steris, advised by Jones Day, on Thursday announced plans to sell its dental segment to Kirkland & Ellis LLP-advised middle market private equity shop Peak Rock Capital for $787.5 million.

  • April 11, 2024

    Jury Frees Urban Outfitters From Trade Secrets Suit

    Urban Outfitters on Thursday beat back a lawsuit from a bankrupt online fashion rental company claiming the retailer stole its proprietary information to set up a competing business, with a Philadelphia federal jury finding that the clothing chain did not misappropriate trade secrets.

Expert Analysis

  • How Policymakers Can Preserve The Promise Of Global Trade

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    Global trade faces increasing challenges but could experience a resurgence if long-held approaches adjust and the U.S. accounts for factors that undermine free trade's continuing viability, such as regional trading blocs and the increasing speed of technological advancement, says David Jividen at White & Case.

  • Why Oncology Deal Making Continues To Fuel Biotech M&A

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    The biotech sector's potential for advancements in cancer care continues to attract deal-maker interest, and the keys to successful mergers and acquisitions include the ability to integrate innovative therapies, leverage technological advancements and respond to the dynamic needs of patients, say Bryan Luchs and Mike Weir at White & Case.

  • Opinion

    Judicial Independence Is Imperative This Election Year

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    As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.

  • Series

    Riding My Peloton Bike Makes Me A Better Lawyer

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    Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.

  • Tips For Healthcare M&A Amid Heightened Antitrust Scrutiny

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    As the Biden administration maintains its aggressive approach to antitrust merger enforcement, prudent healthcare M&A counsel will consider practical advice when contemplating their next transaction, including carefully selecting a merger partner and preparing for a potentially long waiting period prior to closing, say attorneys at Davis Wright.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

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    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • Antitrust Enforcers' Views On Info Exchanges Are Evolving

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    As antitrust enforcers' views on information exchanges between competing companies have matured in response to technological advances, companies would do well to reconsider whether the exchanges in which they participate meet the most recent compliance benchmarks, say attorneys at Norton Rose.

  • What Recent Study Shows About AI's Promise For Legal Tasks

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    Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.

  • Fintech 'Prenups': Planning For A Card Program Breakup

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    After a year of economic downturns, some banks and their fintech partners are realizing they may have rushed to the altar without a good prenup, but planning ahead can curb both foreseeable and unexpected issues in the event of a termination of a bank-fintech card-issuing agreement, say Andrew Grant at Ketsal and Richard Malish at Community Federal Savings Bank.

  • Decline In Same-Industry M&A Tells A Nuanced Policy Story

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    In light of newly available Hart-Scott-Rodino Act data suggesting that intraindustry mergers are down overall and pharmaceutical and hospital intraindustry transactions tend to face greater antitrust scrutiny than in the past, attorneys at Morgan Lewis explore whether Biden administration enforcement policies may be curbing pro-competitive strategic M&A.

  • Behind The 'CVR Spin' Method Of Unlocking Assets In M&A

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    The spinoff of contingent value rights, or the CVR spin, can unlock secondary and noncore assets in public mergers and acquisitions, while resolving the market dislocation of some traditional divestitures, say attorneys at Gibson Dunn.

  • 2nd Circ.'s Nine West Ruling Clarifies Safe Harbor Confusion

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    The Second Circuit’s recent ruling in Nine West’s Chapter 11 suit clarifies that courts in the circuit will apply a transfer-by-transfer analysis to determine the applicability of Section 546(e) of the Bankruptcy Code, and that to be safe harbored, a financial institution must act as an agent with respect to the specific transfer at issue, says Leonardo Trivigno at Carter Ledyard.

  • 5 Models For Structuring Health Provider-Payor Partnerships

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    With recent data showing that the U.S. continues to spend more and get less for healthcare services compared to other industrialized nations, providers and payors should consider a variety of partnership structures that can help achieve the so-called triple aim of improving the health of individuals and populations while reducing per capita costs, says John Howard at Thompson Coburn.

  • Del. Dispatch: How Moelis Upends Stockholder Agreements

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    The Delaware Court of Chancery's Moelis decision last month upended the standard corporate practice of providing governance rights in stockholder agreements and adds to a recent line of surprising decisions holding that long-standing, common market practices violate Delaware law, say attorneys at Fried Frank.

  • Business Litigators Have A Source Of Untapped Fulfillment

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    As increasing numbers of attorneys struggle with stress and mental health issues, business litigators can find protection against burnout by remembering their important role in society — because fulfillment in one’s work isn’t just reserved for public interest lawyers, say Bennett Rawicki and Peter Bigelow at Hilgers Graben.

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