Mergers & Acquisitions

  • May 07, 2024

    Novant CEO Vows To Improve Hospitals Facing FTC Scrutiny

    Novant Health kicked off its defense Tuesday in the Federal Trade Commission's $320 million merger challenge with testimony from its longtime CEO, who vocalized the health system's promise to reinvest in the two struggling hospitals at the center of the case.

  • May 07, 2024

    Fashion Cos. Say FTC Bid To Ax $8.5B Deal 'Makes No Sense'

    The Federal Trade Commission's move to block the owner of Coach and Kate Spade from buying the owner of Michael Kors and Jimmy Choo for $8.5 billion "makes no sense," the companies argued in response, saying they aren't the only handbag brands in the game.

  • May 07, 2024

    Canopy Growth Expands In US With Wana, Jetty Buys

    Canadian cannabis company Canopy Growth announced Tuesday that its U.S. division has exercised options to acquire two American companies as part of its goal to establish a domestic "brand-focused powerhouse" — acquisitions for which Canopy spent nearly $370 million.

  • May 07, 2024

    Trump Media Co-Founders Seek Chancery Contempt Order

    Two early investors in Trump Media & Technology Group have called for a Delaware Court of Chancery contempt ruling against Donald Trump's Truth Social media company, saying its attempt to claim their shares in a Florida lawsuit contradicted earlier representations in Delaware.

  • May 07, 2024

    MultiPlan, Insurance Cos. Accused Of Algorithmic Collusion

    A medical provider has lodged a proposed class action in Illinois federal court accusing MultiPlan and major insurance companies, including UnitedHealth, Aetna, Kaiser Permanente and Cigna, of using pricing tools to systematically underpay out-of-network providers.

  • May 07, 2024

    Venable Trade Co-Chair Shares Hot Takes On US Steel-Nippon

    Back in December, Venable LLP partner Ashley Craig, co-chair of the firm's international trade group, spoke with Law360 just after U.S. Steel disclosed its agreement to be sold to Nippon Steel. Now, he shares his thoughts on the latest developments, including the White House coming out forcefully against the deal and the U.S. Department of Justice launching a probe into it.

  • May 07, 2024

    Colo. Judge Iffy On DOJ's Missive In Kroger Merger Challenge

    A Colorado state judge said he was unsure Tuesday about how to handle the Department of Justice's recent filing defending the state's authority to challenge Kroger's $24 billion merger with Albertsons, as Kroger claimed federal regulators were flip-flopping their antitrust stance.

  • May 07, 2024

    Everton Investors Bemoan Soccer Team Sale Amid Fraud Suit

    The Everton FC Shareholders Association wants to slam the brakes on the "farce" sale of its Premier League soccer team to private equity firm 777 Partners LLC, arguing they are not qualified owners, a demand that comes as the firm faces allegations of fraud.

  • May 07, 2024

    $55M Hospital Merger Suit Deal OK'd, UHC Objection Rejected

    An Illinois federal judge has given final approval to a $55 million class settlement, with $23.5 million in legal costs and attorney fees, resolving patient antitrust claims over a NorthShore University HealthSystem merger, all while finding that United Healthcare Services had no standing to object to the deal.

  • May 07, 2024

    Plastics Recycler Sued In Del. After Stock Drop, Investigations

    A PureCycle Inc. stockholder has launched a multicount derivative suit against the plastics recycling company's officers and directors in Delaware's Court of Chancery, seeking damages tied to a stock drop, alleged disclosure failures and insider dealings before and after a 2021 take-public merger.

  • May 07, 2024

    Steward Health Gets Ch. 11 Loan, Says It Plans Hospital Sales

    A Texas bankruptcy judge Tuesday allowed Steward Health Care to take out $75 million in Chapter 11 financing to meet its next-day payroll after being told the hospital chain plans to sell facilities to pay down its $9 billion in debt.

  • May 07, 2024

    Truth Social Investor Grilled By Feds At Insider Trading Trial

    A Florida investment pro on trial for allegedly exploiting confidential plans to take Truth Social public in a $23 million insider trading case was challenged Tuesday by prosecutors on the timing of trades and communications before the "special" media deal.

  • May 07, 2024

    Prepetition Waivers Sway Invitae Judge On Kirkland Hire

    A New Jersey bankruptcy judge approved the retention of Kirkland & Ellis LLP as bankruptcy counsel for debtor Invitae Corp. Tuesday, the same day he approved a $239 million sale of its assets to Labcorp.

  • May 07, 2024

    Spirit Aerosystems Eyes Buyout By Boeing Amid Safety Probe

    Boeing is in talks to acquire aerospace supplier Spirit AeroSystems, which took a first-quarter hit partly due to Boeing 737 production delays and a safety investigation resulting from a midair 737 door plug blowout in January, Spirit announced Tuesday.

  • May 07, 2024

    Alight Inks Deal With Activist Starboard For 2 New Directors

    Alight Inc., a cloud-based human capital and technology services provider, said Tuesday it has agreed to appoint two new independent directors to its board through an agreement with activist investor Starboard Value LP. 

  • May 07, 2024

    Fenwick-Led Cloud Security Co. Raises $1B At $12B Valuation

    New York-headquartered cloud security company Wiz, advised by Fenwick & West LLP, announced on Tuesday that it hit a $12 billion valuation after securing $1 billion in its latest fundraising round.

  • May 07, 2024

    TikTok Urges DC Circ. To Ax 'Unprecedented' Divestment Bill

    TikTok on Tuesday lodged its highly anticipated challenge to a new federal law that would exclude the popular app from the U.S. market unless it cuts ties with its Chinese parent company, telling the D.C. Circuit that the measure amounts to an unconstitutional and unprecedented ban on free speech. 

  • May 07, 2024

    Corlytics Acquires Deloitte UK RegTech Platform

    Less than a year after acquiring compliance software provider Clausematch, Irish regulatory risk business Corlytics Ltd. announced Tuesday that it has also acquired a digital RegTech platform from Deloitte UK.

  • May 07, 2024

    WilmerHale Guides Akamai's $450M Buy Of Noname Security

    Cloud company Akamai Technologies Inc., advised by WilmerHale, on Tuesday announced plans to buy Noname Security, an application programming interface security company, for $450 million.

  • May 07, 2024

    Apax Unit Raises €23M From Parent's Sale Of Biz To KKR

    Investment company Apax Global Alpha said Tuesday that it has raised approximately €22.7 million ($24.4 million) from its parent company's sale of India-based medical devices maker Healthium MedTech Ltd. to investment giant KKR & Co. Inc.

  • May 06, 2024

    Autonomy Execs Scrambled To Boost Gross Margin, Jury Told

    A former Deloitte auditor testifying in a California criminal trial over claims that ex-Autonomy CEO Michael Lynch conned HP into buying the British software company for an inflated $11.7 billion price confirmed Monday that months before the sale, executives were scrambling to boost their gross margin numbers.

  • May 06, 2024

    Fed Law Doesn't Preempt Colo.'s Kroger Deal Challenge: DOJ

    The U.S. Department of Justice weighed in on Kroger and Alberton's arguments that the Colorado attorney general should not be able to challenge their national merger, arguing instead that states have an important solo role and there is nothing stopping a state court judge from blocking a deal regionally.

  • May 06, 2024

    FCC Only Commits To Normal Review Of Soros-Audacy Deal

    The FCC has informed two Republican lawmakers worried about Soros Fund Management's acquisition of an ownership interest in radio station owner Audacy that it will conduct a regular license review, but stopped short of promising the foreign ownership review that the legislators want due to their concerns about the fund's "deeply partisan" billionaire owner.

  • May 06, 2024

    Paul Weiss Lands M&A Pro Who Sees Strong Deals Pipeline

    James "Jim" Langston has joined Paul Weiss Rifkind Wharton & Garrison LLP as a partner in its mergers and acquisitions practice in New York, telling Law360 the move presented an irresistible opportunity to team up with attorneys he previously admired from across the bargaining table. 

  • May 06, 2024

    Fashion Cos. Aim To Make FTC Define Market In Merger Suit

    Fashion companies Tapestry Inc. and Capri Holdings Ltd. have asked a New York federal court to order the Federal Trade Commission to define the proposed relevant market in its suit attempting to block the companies' planned $8.5 billion merger, saying they need a specific definition of the market in order to properly defend the deal.

Expert Analysis

  • 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.

  • Understanding Insurance Is Key To Limiting Antitrust Liability

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    As regulators signal their intent to continue last year's aggressive campaign of corporate antitrust litigation, businesses must make active management of their liability insurance policies, along with a firm knowledge of the limits of their coverage, central to their strategies for limiting the enormous financial risks of enforcement, say attorneys at Nossaman.

  • What FTC's 'Killer Acquisition' Theory Means For Pharma Cos.

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    The Federal Trade Commission's recent lawsuit to block Sanofi's acquisition of a pharmaceutical treatment developed by Maze Therapeutics builds on previous enforcement actions and could indicate the agency's growing willingness to use its so-called killer acquisition theory against perceived attempts to eliminate nascent competition, say attorneys at Morgan Lewis.

  • Series

    Skiing Makes Me A Better Lawyer

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    A lifetime of skiing has helped me develop important professional skills, and taught me that embracing challenges with a spirit of adventure can allow lawyers to push boundaries, expand their capabilities and ultimately excel in their careers, says Andrea Przybysz at Tucker Ellis.

  • Think Like A Lawyer: Forget Everything You Know About IRAC

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    The mode of legal reasoning most students learn in law school, often called “Issue, Rule, Application, Conclusion,” or IRAC, erroneously frames analysis as a separate, discrete step, resulting in disorganized briefs and untold obfuscation — but the fix is pretty simple, says Luke Andrews at Poole Huffman.

  • How Advance Notice Bylaws Are Faring In Del. Courts

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    Recent decisions make it clear that the Delaware Chancery Court is carefully reviewing public companies' amended advance notice bylaws in order to balance the competing interests of boards and shareholders, and will likely strike down bylaws that improperly interfere with stockholder franchises, say attorneys at Olshan Frome.

  • How New EU Tax And Transfer Pricing Rules May Affect M&A

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    Companies involved in mergers and acquisitions may need to adjust fiscal due diligence procedures to ensure they consider potential far-reaching effects of newly implemented transfer pricing measures, such as newly implemented global minimum tax and European Union anti-tax avoidance directives and proposals, says Patrick Tijhuis at BDO.

  • Strategies For Single-Member Special Litigation Committees

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    The Delaware Supreme Court's recent order in the Baker Hughes derivative litigation allowing testimony from a single-member special litigation committee highlights the fact that, while single-member SLCs are subject to heightened scrutiny, they can also provide unique opportunities, says Josh Bloom at MoloLamken.

  • Lessons For D&O Policyholders From Pharma Co. Ruling

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    A California federal court's recent decision in AmTrust v. 180 Life Sciences, requiring insurers to advance defense costs for a potentially covered claim, provides a valuable road map for directors and officers insurance policyholders, rebutting the common presumption that a D&O insurer's duty to advance costs is more limited than under other policies, say attorneys at Pasich.

  • How Firms Can Ensure Associate Gender Parity Lasts

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    Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.

  • 7 Common Myths About Lateral Partner Moves

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    As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are flat out wrong, says Dave Maurer at Major Lindsey.

  • 5 Tips For Policyholders Arbitrating R&W Insurance Claims

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    With more representations and warranties insurance disputes being arbitrated, policyholder counsel should note issues that are unique to RWI claims, including those of privilege, priority and preserving subrogation, says Micah Skidmore at Haynes Boone. 

  • Series

    Cheering In The NFL Makes Me A Better Lawyer

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    Balancing my time between a BigLaw career and my role as an NFL cheerleader has taught me that pursuing your passions outside of work is not a distraction, but rather an opportunity to harness important skills that can positively affect how you approach work and view success in your career, says Rachel Schuster at Sheppard Mullin.

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