Mergers & Acquisitions

  • 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.

  • April 11, 2024

    Treasury Proposes Steeper Foreign Investment Law Penalties

    The U.S. Department of the Treasury issued a notice Thursday proposing to sharpen its procedures and enforcement practices for reviewing foreign investment deals for national security issues, according to an announcement.

  • April 11, 2024

    SocGen To Sell Equipment Finance Unit To Rival For €1.1B

    French banking giant Societe Generale SA said Thursday that it has agreed to sell its professional equipment financing business to rival BPCE for €1.1 billion ($1.2 billion) to streamline the business and bolster its equity capital.

  • April 10, 2024

    No Merit To Autonomy Whistleblower Claims, Auditor Says

    A Deloitte partner testifying in a California criminal trial over claims that former Autonomy CEO Michael Lynch and finance director Stephen Chamberlain duped HP into buying the British tech company for $11.7 billion said Wednesday that auditors concluded that whistleblower allegations by a finance department executive were meritless.

  • April 10, 2024

    Colo. AG Says Kroger Divestiture Plan Is Best Left For Trial

    Colorado's attorney general wants a state judge to block Kroger and Albertsons from presenting evidence about a new divestiture plan at an upcoming hearing on the state's motion to temporarily block the grocers' merger, claiming the yet-to-be revealed plan is a strategy to "win by ambush."

  • April 10, 2024

    Ex-Art Institutes Execs Want Insurers To Avert $336M Suit

    Former executives of a holding company that bought now-defunct for-profit colleges Argosy University, South University and The Art Institutes asked an Ohio federal court to force excess insurers to settle receivership claims before the pair are formally accused of leaving a $336 million debt in their wake.

  • April 10, 2024

    Dubious Merger Bid? 'Find A Different Deal,' DOJ Official Says

    A U.S. Department of Justice antitrust official on Wednesday stood by the hardline Biden-era stance against most merger clearance settlements, saying that companies coming forward with potentially problematic transactions should rethink doing the deals at all or at least come with strong upfront divestiture proposals.

  • April 10, 2024

    PGA Tour-LIV Merger Questions Swirl As Masters Tees Off

    With a trial attorney from the entertainment section of the U.S. Department of Justice's Antitrust Division sitting quietly by, sports law experts speculated Wednesday at the American Bar Association's spring antitrust meeting whether — and how — the agency might challenge the $3 billion merger between the PGA Tour and LIV.

  • April 10, 2024

    Skadden, Fenwick Lead $4.9B Alpine Immune Sciences Sale

    Biotechnology company Alpine Immune Sciences Inc., advised by Fenwick & West LLP, on Wednesday revealed that it has agreed to be bought by Vertex Pharmaceuticals Inc., led by Skadden Arps Slate Meagher & Flom LLP, in a $4.9 billion cash deal.

  • April 10, 2024

    Beer Biz Investors Beg NC Justices To Clear Legal Haze

    Former shareholders looking to revive their fraud suit against the CEO of a beverage company and his wife asked the North Carolina Supreme Court on Wednesday to tie up an unsettled area of fiduciary law, saying a lower court's disparate jurisprudence "cries out" for clarity.

  • April 10, 2024

    Merger Notification Overhaul 'Pretty Close,' DOJ Official Says

    A senior U.S. Department of Justice antitrust official predicted Wednesday that the DOJ and Federal Trade Commission are likely just weeks away from issuing the final version of a major overhaul to the filing requirements of companies notifying mergers to the agencies.

  • April 10, 2024

    NYSE Seeks To Provide SPACs More Time To Close Mergers

    A New York Stock Exchange proposal would provide special-purpose acquisition companies with six more months to complete mergers while remaining listed — assuming relevant parties have signed a definitive agreement before a three-year deadline — potentially providing market participants more flexibility to close deals.

  • April 10, 2024

    Class Attys Seek Big Payday For $100M Pattern Energy Deal

    Class attorneys are urging the Delaware Chancery Court to approve a $100 million settlement to end state and federal court litigation over Pattern Energy Group Inc.'s $6.1 billion go-private sale in 2020 and award them $26 million in fees for a deal they say is the largest of its kind in the Chancery's history.

  • April 10, 2024

    Past Violations To Get Close Eye With New Merger Filing Rules

    Changes proposed to Federal Trade Commission and U.S. Department of Justice merger reporting requirements would impose significant document submission obligations on merging parties, such as past violations of antitrust and labor law, practitioners and an agency deputy said Wednesday.

  • April 10, 2024

    Blackwells Unveils Takeover Plans For Hospitality REIT

    Blackwells Capital told Braemar Hotels & Resorts Inc. investors on Wednesday that its intention to take the reins of the real estate investment trust's board of directors is necessary to stop a manager from "milking" the company for all it's worth.

  • April 10, 2024

    Freshfields Guides EBay On Multipronged Trading Card Deal

    Freshfields Bruckhaus Deringer LLP is guiding eBay Inc. on new agreements with collectibles grading company Collectors that include eBay acquiring Collectors' Goldin auction house, in what the companies said Wednesday is an effort to streamline the trading card hobby in the U.S.

  • April 10, 2024

    Macy's, Activist Firm End Board Fight, Takeover Talks Proceed

    Macy's and activist investment firm Arkhouse Management Co. said Wednesday they have settled their proxy dispute by appointing two independent directors to the retailer's board, paving the way for further negotiations regarding a prior $6.6 billion acquisition proposal submitted by Arkhouse and Brigade Capital Management LP.

  • April 09, 2024

    'You're Going To Lose These People,' Judge Tells Lynch Atty

    U.S. District Judge Charles Breyer on Tuesday chided a Steptoe partner representing former Autonomy CEO Michael Lynch in his criminal fraud jury trial, saying that his hourslong questioning of a Deloitte partner shouldn't go on much longer, or "you're going to lose these people."

  • April 09, 2024

    Nikola Investors' SPAC Fraud Suit Moves Ahead

    Board directors of electric truck maker Nikola Corp. and the blank-check company that took it public for $3.3 billion in 2020 must face shareholders' derivative claims of insider trading, securities fraud and merger-related breaches after Delaware's Court of Chancery on Tuesday denied more than half of the defense's motions to dismiss.

Expert Analysis

  • Leveraged Finance Market May Rebound After Cruel Summer

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    It has been a challenging summer for the leveraged finance market due to the economic climate and tight credit conditions, but cooling inflation and signs of life in the syndicated loan market suggest brighter days ahead, say attorneys at Weil.

  • FTC's Proposed HSR Changes Will Complicate Merger Filings

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    Attorneys at Mayer Brown explore the proposed sweeping revisions to Hart-Scott-Rodino Act premerger notification rules and what the change would mean for deal terms, including the increased cost, uncertainty and risk added to the process.

  • In-Office Engagement Is Essential To Associate Development

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    As law firms develop return-to-office policies that allow hybrid work arrangements, they should incorporate the specific types of in-person engagement likely to help associates develop attributes common among successful firm leaders, says Liisa Thomas at Sheppard Mullin.

  • Private Equity Dry Powder Will Likely Spur M&A Opportunities

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    Despite economic uncertainty and recent headwinds, pent-up dry powder left uninvested by private equity firms may translate into pressure to invest capital and maintain high returns, possibly leading to M&A growth in the second half of the year, say attorneys at Norton Rose.

  • Terror Funding Suit Could Affect Inherited Jurisdiction In NY

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    Depending on how New York’s highest court answers two questions certified from the Second Circuit in a case litigating companies’ liability for terrorist attacks, foreign companies with no relevant New York contacts may be subject to suit in state courts by virtue of an asset purchase, say attorneys at Norton Rose.

  • Perspectives

    A Judge's Pitch To Revive The Jury Trial

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    Ohio state Judge Pierre Bergeron explains how the decline of the jury trial threatens public confidence in the judiciary and even democracy as a whole, and he offers ideas to restore this sacred right.

  • Deal-Making Strategies To Explore Amid 2023's Uncertainties

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    Attorneys at White & Case delve into the evolving risks deal makers face in the remainder of 2023, detailing several approaches — such as activist simulations, stock-for-stock deals and divestitures — that may deliver value in an uncertain market.

  • Opinion

    Calif. Policymakers Should Aid Crashing Cannabis Market

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    As California’s cannabis sector nears the brink of financial collapse, it may be time for the state government to seriously consider potential bailout programs for the embattled industry — though the crisis also presents strategic buying opportunities for those with a high tolerance for uncertainty, says Michelle Mabugat at Greenberg Glusker.

  • How To Recognize And Recover From Lawyer Loneliness

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    Law can be one of the loneliest professions, but there are practical steps that attorneys and their managers can take to help themselves and their peers improve their emotional health, strengthen their social bonds and protect their performance, says psychologist and attorney Traci Cipriano.

  • Opinion

    Litigation Funding Disclosure Should Be Mandatory

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    Despite the Appellate Rules Committee's recent deferral of the issue of requiring third-party litigation funding disclosure, such a mandate is necessary to ensure the even-handed administration of justice across all cases, says David Levitt at Hinshaw.

  • Recalling USWNT's Legal PR Playbook Amid World Cup Bid

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    As the U.S. Women's National Soccer Team strives to take home another World Cup trophy, their 2022 pay equity settlement with the U.S. Soccer Federation serves as a good reminder that winning in the court of public opinion can be more powerful than a victory inside the courtroom, says Hector Valle at Vianovo.

  • Colorado Antitrust Reform Carries Broad State Impact

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    Colorado recently became the latest state to update and expand its antitrust laws, and the new act may significantly affect enforcement and private litigation, particularly when it comes to workers and consumers, says Diane Hazel at Foley & Lardner.

  • Mootness Fees Are Losing Traction In Del. And Federal Courts

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    The Delaware Chancery's recent decision in Anderson v. Magellan Health deals a significant blow to plaintiffs attorneys seeking mootness fees for merger litigation brought in that state, and federal courts are trending in the same direction, say Paul Marino and Michael Fialkoff at Day Pitney.

  • Opinion

    Merger Guidelines Should Provide For Competition Trustees

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    Following the U.S. antitrust agencies' release of draft merger guidelines, retired U.S. Court of Federal Claims Chief Judge Susan Braden suggests a court-appointed competition trustee would help ensure U.S. competition without impairing economic prosperity.

  • Senate Hearing Highlights Antitrust Hazards In PGA-LIV Deal

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    The U.S. Senate's recent questioning of PGA Tour COO Ron Price on the proposed deal with LIV Golf and its release of a dossier of framework agreements covered a variety of issues that could exacerbate antitrust concerns, including the predatory purchasing theory of competitive harm, free-riding and alternate funding, say attorneys at Perkins Coie.

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