Mergers & Acquisitions

  • April 08, 2024

    Plot Holes Doom JPMorgan 'Fraud' Narrative, Frank Exec Says

    The founder of a startup meant to help college students apply for financial aid said an indictment claiming she duped JPMorgan Chase & Co. into a buyout should be dismissed because it fails to identify her alleged co-conspirators or fraudulent statements.

  • April 08, 2024

    Schumer Seeks More Data, Details About Capital One Deal

    Senate Majority Leader Chuck Schumer said Monday that he has requested more information about Capital One and Discover Financial Services' planned $35.3 billion merger, including data on the interest rates they charge and details about any potential layoffs that could stem from the deal.

  • April 08, 2024

    3 Firms Build $2.3B Hospitality Biz SPAC Merger

    Singapore-headquartered Hotel101 Global Pte Ltd., a hotel prop-tech operator pioneering a standardized "condotel" business model, announced Monday that it plans to go public through a merger with blank-check company JVSPAC Acquisition Corp. in a deal built by three firms that will give it an equity value of $2.3 billion post-closing.

  • April 08, 2024

    Kirkland-Led Vista Buying Medtech Co. 'Model N' For $1.25B

    Kirkland & Ellis LLP-led Vista Equity Partners has agreed to buy Fenwick & West LLP-advised Model N, a provider of revenue optimization and compliance tools for healthcare tech companies, in a take-private transaction valued at approximately $1.25 billion, the companies said Monday. 

  • April 08, 2024

    Simpson Reps Blackstone On $10B AIR Communities Buy

    Blackstone has agreed to purchase Apartment Income REIT Corp. in a take-private transaction valued at approximately $10 billion, with Simpson Thacher & Bartlett LLP and Skadden Arps Slate Meagher & Flom LLP serving as legal counsel, respectively, the firms said Monday. 

  • April 05, 2024

    Meta Looks To Nix FTC's Antitrust Case Over Acquisitions

    Meta Platforms urged a D.C. federal court on Friday to toss the Federal Trade Commission's antitrust case against it, saying the agency has found no evidence showing its acquisitions of Instagram and WhatsApp hurt competition or consumers.

  • April 05, 2024

    Jury Finds Pharma Exec 'Shadow Traded' With Inside Info

    A California federal jury found Friday that a former Medivation executive is liable for using inside information from his company when he purchased stock in rival pharmaceutical maker Incyte, in a novel civil "shadow trading" case brought by the U.S. Securities and Exchange Commission.

  • April 05, 2024

    L3Harris To Sell Antenna Business To Kanders For $200M

    Florida-based single-family investment officer Kanders & Co. Inc., advised by Ropes & Gray LLP, announced on Friday that it will buy and combine the antenna and related businesses from aerospace and defense company L3Harris Technologies for $200 million.

  • April 05, 2024

    Allianz Selling Mid-Size, Entertainment Holdings In $1.4B Deal

    Allianz Group said Friday that its corporate and specialty insurance unit is selling off its U.S. insurance business for midsize corporations and entertainment businesses for $450 million in cash to Arch Insurance North America.

  • April 05, 2024

    Nixon Peabody Adds 2 Attys From Hinckley Allen In Boston

    A pair of attorneys have jumped to Nixon Peabody LLP in Boston after spending more than a decade working at Hinckley Allen & Snyder LLP.

  • April 05, 2024

    Off The Bench: ACC Drama, Football Firing Suits Intensify

    In this week's Off The Bench, Florida State University cannot escape an ACC lawsuit that may enforce a nine-figure penalty against the school if it should leave the conference, while both Northwestern University and the Arizona Cardinals face more legal headaches over their decisions to fire key personnel.

  • April 05, 2024

    US Gas Cos. Delay $7.4B Deal Closing Date Amid FTC Scrutiny

    A month after a group of 50 lawmakers urged the Federal Trade Commission to investigate a recent string of mergers and acquisitions in the oil industry, the regulatory agency is putting Chesapeake Energy and Southwestern Energy's planned $7.4 billion merger under the microscope.

  • April 05, 2024

    Allens-Guided Experian To Acquire Peer Illion For $540M

    Experian PLC has agreed to buy Australasian rival credit analyst illion for up to $820 million Australian dollars ($540 million), as the Ireland-based global financial data specialist moves to bolster its presence in the region's growing credit reporting market.

  • April 05, 2024

    Freshfields Reps J&J On $13.1B Deal For Shockwave Medical

    Freshfields Bruckhaus Deringer-led Johnson & Johnson has agreed to buy Fenwick & West-advised Shockwave Medical Inc., a provider of a cardiovascular blood flow treatment, at an enterprise value of $13.1 billion, the companies said Friday. 

  • April 05, 2024

    PE Firms Finding Novel Way To Grow: Merging With Peers

    The first months of 2024 rang in with multiple megadeals between private equity firms and asset managers, including BlackRock's $12.5 billion Global Infrastructure Partners buy and General Atlantic's combination with Actis, highlighting a growing trend as PE firms strive to diversify their offerings to compete for limited partner dollars.

  • April 05, 2024

    US Food Processor JBT Preps €3.5B Bid For Icelandic Rival

    Food-processing technology giant JBT Corp. said on Friday that it plans to make a recommended €3.5 billion ($3.8 billion) offer for Icelandic rival Marel HF in May.

  • April 04, 2024

    Pump Co. Ch. 7 Trustee's $59.7M Case Could Go Before Jury

    A Chapter 7 trustee and the owners of a Connecticut pump manufacturer will square off in federal district court over claims that executives raided $59.7 million from the Nash Engineering Co.'s coffers, lined its stockholders' pockets and plunged the entity into bankruptcy to avoid paying asbestos injury claims.

  • April 04, 2024

    SEC Points Jury To 'Coincidence' In Shadow Trading Trial

    A U.S. Securities and Exchange Commission attorney on Thursday cross-examined a former executive of pharmaceutical company Medivation about his alleged "shadow trading" in the stock of rival pharma company Incyte, pressing the executive repeatedly to assert that various facts and circumstances supporting the agency's position were merely "coincidence."

  • April 04, 2024

    MoneyLion's Woes Draw Del. Suit Against SPAC Insiders

    Investors have sued the sponsor of a blank-check company and several of its directors and controllers in Delaware's Chancery Court, accusing them of overvaluing a merger with digital finance platform MoneyLion, which was sued by the Consumer Financial Protection Bureau in 2022.

  • April 04, 2024

    Snowflake Investor Accuses Brass Of Insider Trading

    A Snowflake Inc. investor filed a lawsuit Thursday against the cloud data platform's leadership team, accusing company insiders of shedding over $1 billion worth of stock at inflated prices while knowing about or recklessly disregarding a scheme to misrepresent sales data following the company's $3.3 billion public debut.

  • April 04, 2024

    Caterpillar 'Talking Out Both Sides,' Judge Says

    A Delaware federal judge chastised Caterpillar Inc. ahead of trial in a series of orders mostly siding with claims from a defunct construction equipment supplier accusing the company of pressuring an online auctioneer to break an important contract with the would-be competitor.

  • April 04, 2024

    Snell & Wilmer Adds Former McDermott Partner In Dallas

    A former McDermott Will & Emery partner and tax specialist has joined Snell & Wilmer's Dallas office to advise clients on cross-border transactions, particularly in Latin America and Mexico.

  • April 04, 2024

    Kiss Sells Their Souls To PE Fund, Throws In Music Too

    Less than a year after playing their final show, members of '70s rock band Kiss said on Thursday that they're selling off their intellectual property to a private equity outfit owned by the guitarist of ABBA who is already promising investors that "plans for a biopic, an avatar show, and a Kiss-themed experience are already in the works."

  • April 04, 2024

    Latham Led Firms In 1st Quarter IPOs As Outlook Brightens

    Latham & Watkins LLP guided the most initial public offerings among law firms in the year's first quarter, benefiting from an improved fundraising climate that is spreading optimism for IPO lawyers at many firms as the second quarter unfolds.

  • April 04, 2024

    Novo Holdings, Catalent Reset Review Clock On $16.5B Deal

    Novo Nordisk Foundation has given the Federal Trade Commission more time for an initial review of Novo Holdings' plan to acquire Catalent in a deal that values the pharmaceutical services company at $16.5 billion.

Expert Analysis

  • Finding Focus: Strategies For Attorneys With ADHD

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    Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.

  • How 'Safe Harbor' Policy Will Modify M&A Processes

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    Legal practitioners should be aware that the Justice Department's "safe harbor" immunity will change the typical M&A process significantly as acquirers start embedding fraud detection into their due diligence, including a broader scope of examinations and interviews, says Jesse Silvertown at The Ledge.

  • Earnout Contract Considerations After NC Good Faith Ruling

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    The North Carolina Supreme Court's recent Value Health Solutions v. Pharmaceutical Research decision, holding the implied covenant of good faith and fair dealing did not apply in an earnout dispute related to an asset sale, demonstrates the need for practitioners to pay careful attention to milestone concepts in M&A transactions, says Benjamin Hicks at Wagner Hicks.

  • M&A Ruling Buoys Loss Calculation Method, R&W Insurance

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    The recent Southern District of New York decision in Taylor Precision Products v. Larimer affirms the use of EBITDA as a basis to quantify loss, highlighting the potential shortcomings of a traditional seller indemnity compared to representation and warranty insurance, say Mark Schwartz at Lockton, and William O’Neil and Gretchen Scavo at Winston & Strawn.

  • Build Or Buy: Assessing Options For Starting A New Bank

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    Attorneys at Nelson Mullins evaluate key considerations for deciding whether to charter a new bank or purchase an existing one to implement a new business plan, as depressed stock prices, high-profile failures and regulatory stagnation create headwinds for new banks.

  • Opinion

    Courts Shouldn't Credit Allegations From Short-Seller Reports

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    Securities class actions against public companies can extend for years and lead to significant settlements, so courts should not allow such cases with allegations wholly reliant on reports by short-sellers, who have an economic interest in seeing a company's stock price decline, to proceed past the motion to dismiss stage, says Richard Zelichov at DLA Piper.

  • Unlocking Value In Carve-Out M&A Transactions

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    Some of the largest mergers and acquisitions in 2023 were carve-out transactions, and despite their unique intricacies and challenges, these transactions offer both buyers and sellers the opportunity to generate outsized returns in an otherwise vigorously competitive landscape, when carefully planned and diligently executed, say Kevin Crews and Rami Totari at Kirkland.

  • Attorneys, Law Schools Must Adapt To New Era Of Evidence

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    Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.

  • Biden Admin's M&A Rhetoric Outpaces Enforcement Numbers

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    Despite the Biden administration's rhetoric about the need to reinvigorate antitrust efforts, merger enforcement actions by the Federal Trade Commission and the U.S. Department of Justice Antitrust Division are at 20-year lows, with the agencies opting for deterrence instead, says Ryan Quillian at Covington.

  • Tips For Litigating Against Pro Se Parties In Complex Disputes

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    Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.

  • Del. Dispatch: Lessons From Failed ETE-Williams Merger

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    Attorneys at Fried Frank delve into the Delaware Supreme Court's recent decision in Energy Transfer v. Williams to highlight the major monetary consequences of a failed merger, and show why merger agreement drafting and factual context are of utmost importance.

  • 5 Ways To Leverage Recent DOJ 'Safe Harbor' M&A Policy

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    Companies can take a series of practical steps both before and after closing to gain maximum advantage from the recently announced U.S. Department of Justice merger and acquisition safe harbor policy and minimize enforcement risk, say Jonny Frank and Jeremy Hirsch at StoneTurn.

  • Pro Bono Work Is Powerful Self-Help For Attorneys

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    Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.

  • Avoiding Bribery, Corruption And Sanctions Risks In Int'l M&A

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    Given the evolving merger and acquisition landscape — as evidenced by the Justice Department’s recently announced safe harbor policy — acquirers conducting international transactions must build bribery, anti-corruption and sanctions risk considerations squarely into their due diligence processes, say Brian Markley and Jennifer Potts at Cahill Gordon.

  • Series

    Playing In A Rock Cover Band Makes Me A Better Lawyer

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    Performing in a classic rock cover band has driven me to hone several skills — including focus, organization and networking — that have benefited my professional development, demonstrating that taking time to follow your muse outside of work can be a boon to your career, says Michael Gambro at Cadwalader.

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