Mergers & Acquisitions

  • March 07, 2024

    Honigman Picks Up Corporate Attorney From Ropes & Gray

    Honigman LLP said it has hired away a Ropes & Gray LLP counsel with finance transaction expertise who started his career at Honigman to become a partner in its corporate finance practice group.

  • March 07, 2024

    Warner Music To Make €1.7B Offer For France's Believe

    U.S.-based entertainment conglomerate Warner Music Group on Wednesday confirmed that it has expressed interest in acquiring Believe SA in a deal that could value the French digital music company at approximately €1.65 billion ($1.8 billion).

  • March 07, 2024

    HSS Sells 2 Power Generator Firms For £23M To Cut Debt

    HSS said Thursday that it has sold two power generator companies to CES Global, a U.S. company that provides portable power for large events, together for £23.25 million ($30 million).

  • March 07, 2024

    Slaughter & May Advises Nationwide's £2.9B Virgin Money Bid

    Nationwide Building Society said Thursday that it plans to buy Virgin Money UK in a £2.9 billion ($3.7 billion) cash deal that would create the second-largest mortgage and savings provider in Britain.

  • March 06, 2024

    'Larger' Airlines Didn't Help Flyers, DOJ Tells 1st Circ.

    The U.S. Department of Justice has assailed American Airlines for pressing its appeal over its since-nixed Northeast Alliance with JetBlue, telling the First Circuit that just because the deal made the airlines "larger" doesn't mean it helped consumers as the airline claims or that a district court gave potential benefits short shrift.

  • March 06, 2024

    Exxon Kicks Off Arbitration Over Guyana Offshore Oil Project

    ExxonMobil has initiated arbitration in order to retain its right of first refusal over Hess Corp.'s stake in a lucrative oil block off Guyana's Atlantic coast, an Exxon spokesperson confirmed on Wednesday.

  • March 06, 2024

    X Gets Investors' 'Puzzling' Cybersecurity Suit Axed For Good

    The social media site X, formerly known as Twitter, does not have to face shareholders' claims that they were misled and kept in the dark about the platform's cybersecurity concerns, a California federal judge ruled while scolding the shareholders for filing an "unnecessarily lengthy, puzzling and burdensome complaint."

  • March 06, 2024

    J&J Seeks Exit From Suit Over Stelara Exclusivity

    Johnson & Johnson told a Virginia federal court Tuesday it shouldn't have to face a proposed class action claiming it has been trying to stifle competition in the market for the immunosuppressive drug Stelara, saying there was no "scheme" to enforce its patents as the suit alleges.

  • March 06, 2024

    Weber Stockholders Vie For Chancery Suit Over $3.7B Deal

    The competition among former Weber Inc. stockholders who sued over the grill maker's $3.7 billion squeeze-out by BDT Capital Partners LLC heated up Wednesday in Delaware's Court of Chancery as more than a dozen firms on teams led by Scott + Scott Attorneys at Law LLP, Friedlander & Gorris PA and Prickett Jones & Elliot PA battled to lead a consolidated class suit.

  • March 06, 2024

    Co. Says Chubb Unit Must Cover $5M Merger Dispute Defense

    A holding company subsidiary of Banco Santander told a Delaware federal court that a Chubb unit must contribute to $5 million in legal expenses the company has incurred in defending itself in an underlying class action brought by minority shareholders who objected to a merger with another subsidiary.

  • March 06, 2024

    Network Biz Investor Challenges Board Removals In Chancery

    An early preferred stockholder of PacketFabric sued the network-as-a-service provider in Delaware's Court of Chancery on Wednesday, requesting an order invalidating what it calls a conflicted board cramdown that converted the investor's preferred shares to common stocks and axed its two seats on the company's board.

  • March 06, 2024

    Sports Illustrated Betting Platform To Be Shut Down

    The turmoil at Sports Illustrated continued Wednesday as its partner 888 Holdings PLC announced that it was terminating its sportsbook agreement with the brand's parent company, saying the scale of operating costs in the United States has made the venture untenable.

  • March 06, 2024

    M&A Values Getting Boost Amid Election-Year Scramble

    The value of U.S. mergers and acquisitions as of Wednesday has doubled year over year, as economic concerns subside and deal-makers scramble to get deals done in an election year, but middle-market transaction activity isn't panning out as some had hoped. 

  • March 06, 2024

    50 Lawmakers Urge FTC To Probe Oil And Gas Consolidations

    A group of 50 lawmakers on Wednesday urged the Federal Trade Commission to investigate a recent string of mergers and acquisitions in the oil industry, saying this "longstanding consolidation trend" threatens to reduce choice and competition across the supply chain, suppress wages and make gas at the pump more expensive.

  • March 06, 2024

    Judge Rejects Equity Challenge To Virgin Orbit Ch. 11

    A Delaware bankruptcy judge on Wednesday told Virgin Orbit LLC shareholders that she wouldn't retract confirmation of the satellite launch company's Chapter 11 liquidation plan, because Virgin Orbit appropriately sought approval even if the scheme left equity holders without hope of recoveries.

  • March 06, 2024

    FTC Can Depose Hospitals' Execs In Merger Challenge

    A North Carolina federal magistrate judge has overruled two hospital systems' objections to the depositions of six Novant Health employees by the Federal Trade Commission in its antitrust action against a proposed $320 million merger, rejecting the healthcare providers' arguments that such depositions would be duplicative.

  • March 06, 2024

    Juniper Networks Sued In Del. For Details On $14B HP Sale

    Leaders of artificial intelligence networking platform Juniper Networks Inc. are breaching their duties to stockholders by withholding material information about the company's recently announced $14 billion acquisition by Hewlett Packard Enterprise Co., a Juniper shareholder alleged Wednesday in a Delaware Court of Chancery complaint.

  • March 06, 2024

    Rite Aid Aims To Divest Most Of Its Health Dialog Business

    Bankrupt drugstore chain Rite Aid Corp. said Wednesday that it will sell most of its Health Dialog business, which provides personalized health services, to Carenet Health for an undisclosed amount.

  • March 20, 2024

    Fried Frank Hires 3 Private Equity Pros From Goodwin Procter

    Fried Frank Harris Shriver & Jacobson LLP has said it has snapped up three partners from Goodwin Procter LLP to join its London mergers and acquisitions private equity practice.

  • March 06, 2024

    MoFo-Led Building Materials Biz To Buy Supplier For $300M

    Breedon said Wednesday that it has agreed to buy U.S. concrete supplier BMC Enterprises Inc. for $300 million, as the U.K. construction materials group eyes continued expansion into the Stateside market.

  • March 05, 2024

    Gibson Dunn AI Leader On Weathering The AI Policy Blizzard

    Like a mountaineer leading a team through a snowstorm, Gibson Dunn & Crutcher LLP's artificial intelligence co-chair Cassandra L. Gaedt-Sheckter is guiding companies developing and using artificial intelligence through a blizzard of new laws and regulations coming online in Europe and the U.S., saying that assessing AI risks is the North Star to mitigating them.

  • March 05, 2024

    FTC Chair Decries PE's Healthcare Impacts As Probe Starts

    Federal Trade Commission Chair Lina Khan on Tuesday lamented what she deemed the "financialization" of healthcare resulting from private equity buyouts, in remarks coinciding with the launch of a multijurisdictional request for public comment on PE and other companies' growing control over the healthcare system.

  • March 05, 2024

    $1.2B 'King Of Pop' Music Catalog Deal Leads Top 10 Ever

    As a stable asset class that has fared well amid economic uncertainty, music catalogs have attracted much attention from both private equity firms and music industry corporations that are attuned to increasingly lucrative royalty fees and spikes in music streaming. Here, Law360 breaks down the largest music catalog-related asset sales ever, based on official announcements and media reports.

  • March 05, 2024

    Cadence To Acquire Beta Cae In $1.24B Cash-And-Stock Deal

    Latham & Watkins LLP-advised Cadence Design Systems Inc. will pay $1.24 billion for engineering simulation software business Beta Cae Systems International AG, which serves Formula One racing teams and major automotive companies, according to an announcement Tuesday.

  • March 05, 2024

    Callon Sued Over Disclosures Prior To $4.5B APA Deal

    A Callon Petroleum Company shareholder has alleged in a proposed class action in Delaware Chancery Court that the company breached its fiduciary duties in connection with a pending $4.5 billion acquisition by APA Corp. by not fully disclosing the details of another proposal.

Expert Analysis

  • Legal Profession Must Do More For Lawyers With Disabilities

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    At the start of Disability Pride month, Rosalyn Richter at Arnold & Porter looks at why lawyers with disabilities are significantly underrepresented in private practice, asserting that law firms and other employers must do more to conquer the implicit bias that deters attorneys from seeking accommodations.

  • Opinion

    Appellate Funding Disclosure: No Mandate Is Right Choice

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    The Advisory Committee on Appellate Rules' recent decision, forgoing a mandatory disclosure rule for litigation funding in federal appeals, is prudent, as third-party funding is only involved in a minuscule number of federal cases, and courts have ample authority to obtain funding information if necessary, says Stewart Ackerly at Statera Capital.

  • Global M&A Outlook: Slow But Moving Along

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    Global merger and acquisition markets had a tough start to the year, with inflation, rising interest rates and the Ukraine conflict knocking sentiment, but in the macroeconomic, deal makers have continued to unearth pockets of activity to keep deal volumes ticking over, say lawyers at White & Case.

  • How NY Law Affects Scrutiny Of Health Care PE Transactions

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    A recently passed New York law will strengthen pretransanction notification requirements for health care entities — particularly those backed by private equity — but contains several ambiguities that will hopefully be clarified before the law takes effect in August, say attorneys at Norton Rose.

  • What To Know About FTC's Merger Filing Proposal

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    Attorneys at Simpson Thacher dissect the Federal Trade Commission's recent proposal to overhaul the premerger notification process — discussing the proposal's requirements, comparing peer jurisdictions' premerger regimes, and reviewing the implementation process for a final rule change.

  • PGA, LIV Tie-Up Might Foreshadow Future Of Women's Soccer

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    The pending merger between PGA Tour and LIV Golf is entirely consistent with the history of American professional sports leagues that faced upstart competitors, and is a warning about the forthcoming competition between the National Women's Soccer League and the USL Super League, says Christopher Deubert at Constangy Brooks.

  • How Attys Can Avoid Exposing Their Firms To Cyberattacks

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    Attorneys are the weakest link in their firms' cyberdefenses because hackers often exploit the gap between individuals’ work and personal cybersecurity habits, but there are some steps lawyers can take to reduce the risks they create for their employers, say Mark Hurley and Carmine Cicalese at Digital Privacy & Protection.

  • 4th Circ. Ruling Continues Trend Of Insurer Bump-Up Wins

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    The Fourth Circuit's recent decision in Towers Watson v. National Union Fire Insurance, finding no directors and officers insurance coverage for underpayment in a reverse triangular merger, supports an emerging consensus that "acquisition" encompasses a variety of transaction types for the purposes of D&O bump-up exclusions, say Joshua Polster and Charlotte McCary at Simpson Thacher.

  • Foreign Investment In Real Estate Is Getting More Complicated

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    Increasing federal scrutiny and a proliferation of new state laws targeting foreign investment in real estate may complicate or prevent transactions even by U.S. companies or funds that have shareholders or limited partners from China and other countries of concern, say attorneys at Akin.

  • Virginia 'Rocket Docket' Slowdown Is Likely A Blip

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    After being the fastest or second-fastest federal civil trial court for 14 straight years, the Eastern District of Virginia has slid to 18th place, but the rocket docket’s statistical tumble doesn't mean the district no longer maintains a speedy civil docket, says Robert Tata at Hunton.

  • Chancery Reaffirms Very High Bar For Board Liability On Deal

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    The Delaware Court of Chancery's recent decision in a Block shareholder's suit over the purchase of Tidal serves as a reminder that an independent and disinterested board will not have liability unless it did not act in good faith — even when the court strongly criticizes flawed processes and the business decision, say attorneys at Fried Frank.

  • Broadcast Deal Parties, Beware In-House FCC Hearings

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    Potential buyers and sellers in the telecom space should take note of the recent collapse of Standard General's attempted takeover of Tegna, which could not find its way out of a procedural maze created by the Federal Communications Commission's administrative law judge review, says Dennis Corbett at Telecommunications Law Professionals.

  • FTC's Amgen-Horizon Protest Raises Conglomerate Concerns

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    The Federal Trade Commission's challenge to Amgen Inc.'s proposed $28 billion acquisition of Horizon Therapeutics is the agency's first move in four decades based on a conglomerate theory of competitive harm, and might pose new antitrust risks for transactions beyond the pharmaceutical sector, say attorneys at WilmerHale.

  • How Employers Can Prepare For Minn. Noncompete Ban

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    With Minnesota’s sweeping ban on noncompete agreements set to begin July 1, employers must immediately implement new strategies to protect their invaluable intellectual property, customer relationships and investment in employee training, say attorneys at Littler Mendelson.

  • 5 Management Tips To Keep Law Firm Merger Talks Moving

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    Many law firm mergers that make solid business sense still fall apart due to the costs and frustrations of inefficient negotiations, but firm managers can increase the chance of success by effectively planning and executing merger discussions, say Lisa Smith and Kristin Stark at Fairfax Associates.

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