Mergers & Acquisitions

  • March 25, 2024

    Paul Weiss-Led AbbVie Inks Up To $212M Deal For Landos Bio

    AbbVie Inc., represented by Paul Weiss Rifkind Wharton & Garrison LLP, said Monday it will pay up to $212.5 million for Cooley LLP-led Landos Biopharma Inc., a clinical-stage biopharmaceutical company developing treatments for autoimmune diseases.

  • March 25, 2024

    Catching Up With Delaware's Chancery Court

    Last week in Delaware's Court of Chancery, litigants battled as Truth Social went public, Carl Icahn and Tripadvisor hit a roadblock, and more shareholders wailed about "invasive" bylaws. Oil drilling and pharmaceutical mergers sparked new lawsuits, and a sewing machine trademark owner sued to end a contract.

  • March 25, 2024

    Owens Corning Extends $3.9B Masonite Deal Review

    Construction materials manufacturer Owens Corning has agreed to give antitrust enforcers more time to review a planned $3.9 billion deal to purchase door-maker Masonite International Corp.

  • March 25, 2024

    Trian, Blackwells Double Down On Disney Activist Campaigns

    As The Walt Disney Company's annual shareholder meeting approaches, two activist investors are ramping up their campaigns against the storied entertainment company and imploring fellow shareholders to vote for their separate slate of director candidates at the April 3 gathering.

  • March 25, 2024

    MNC Capital Ups Vista Outdoor Takeover Bid To $3B

    Dallas, Texas-based investment firm MNC Capital Partners on Monday upped its proposed takeover bid of Vista Outdoor Inc. by approximately $1 billion after the company rejected its initial offer, now offering roughly $3 billion to purchase the sporting and outdoor products company.

  • March 25, 2024

    Amex GBT To Buy CWT In Deal Valued At $570M

    American Express Global Business Travel announced Monday that it has agreed to purchase CWT in a transaction that values the global business travel and meetings solutions provider at about $570 million.   

  • March 25, 2024

    Novo Nordisk Inks $1.1B Deal For German Pharma Biz

    Danish pharmaceutical giant Novo Nordisk A/S said Monday it has signed a deal to acquire Cardior Pharmaceuticals of Germany for just over €1 billion ($1.1 billion) to widen its focus on cardiovascular diseases.

  • March 25, 2024

    Kirkland Guides Ingersoll Rand On $2.3B ILC Dover Buy

    Kirkland & Ellis LLP is representing Ingersoll Rand on a new agreement to buy ILC Dover from private equity firm New Mountain Capital for more than $2.3 billion, part of Ingersoll's plan to bolster its life sciences business, the industrial products company said Monday. 

  • March 25, 2024

    EU Says Lufthansa Deal Could Harm Air Transport Competition

    Europe's antitrust authority said on Monday that Lufthansa's plan to buy a 41% stake in ITA Airways for €325 million ($352 million) could lead to higher prices and poorer service for passengers taking flights in and out of Italy.

  • March 25, 2024

    KKR To Complete £1.3B Takeover, Delist Smart Metering Co.

    Private equity giant KKR said Monday that it will complete its £1.3 billion ($1.6 billion) takeover of a British energy infrastructure company and take its shares off the London Stock Exchange.

  • March 22, 2024

    Expert's Sanctions Off Limits In SEC's 'Shadow Trading' Trial

    A California federal judge overseeing a "shadow trading" trial starting Monday against a pharmaceutical executive ruled that the U.S. Securities and Exchange Commission can't introduce banking sanctions evidence against the defendant's mergers and acquisitions expert as long as he doesn't give opinions on securities law.

  • March 22, 2024

    Nexstar Faces $1.2M Fine For 'De Facto' Control Of NY Station

    The Federal Communications Commission has floated a $1.2 million fine against TV giant Nexstar Media Group Inc. after discovering it obtained "de facto" control of a New York City station and exceeded the FCC's 39% national ownership cap.

  • March 22, 2024

    Telecom Shareholders Want Tribunal DQ'd Over 'Biased' Blog

    The majority shareholders in a Latin American telecommunications tower operator are urging a New York court to reconsider its bid to disqualify the entire tribunal overseeing an arbitration over an alleged corporate coup, saying a blog run by one of the arbiters shows proof of bias.

  • March 22, 2024

    Dril-Quip Investor Alleges Merger Will Entrench Board

    A shareholder of oil drilling equipment company Dril-Quip Inc. hit its directors with a proposed class action in Delaware Chancery Court, alleging they added unreasonable provisions to the terms of its merger with Innovex Downhole Solutions Inc. to disenfranchise shareholders.

  • March 22, 2024

    Trump Media SPAC CEO Accused Of Misleading Investors

    A sponsor of the special-purpose acquisition company approved to take Donald Trump's social media website public has sued its CEO in Florida federal court, saying a "coup d'etat" was orchestrated to oust the former leader and mislead investors in an effort to assume control over the enterprise.

  • March 22, 2024

    Starboard Value Eyes Board Seats At Algonquin Power

    Canadian utility company Algonquin Power & Utilities Corp. on Friday said its board of directors will review director nominees submitted by activist investor Starboard Value LP, who said the company's current board has a "long history of making value-destructive decisions" and needs to be refreshed.

  • March 22, 2024

    Bestwall Says 'Texas Two-Step' Irrelevant To Asbestos Ch. 11

    Bestwall, the bankrupt asbestos unit of Georgia-Pacific, told the U.S. Supreme Court Friday that a pre-bankruptcy corporate restructuring in Texas that separated its asbestos liability from the parent business should not matter in determining whether a bankruptcy court has jurisdiction over the subsidiary's asbestos injury claims.

  • March 22, 2024

    Flyers Say JetBlue-Spirit Deal Case Not Done, Push For Win

    The private plaintiffs challenging the failed JetBlue-Spirit merger indicated they're not done despite the companies' abandonment of the deal, pushing a Massachusetts federal court to grant them a win on their antitrust claims.

  • March 22, 2024

    US Trustee Says Fla. Healthcare Co. Can't Seal Stock Sale Bid

    The U.S. Trustee's Office has urged a Delaware bankruptcy judge to deny a Miami-based primary healthcare group's request in its Chapter 11 case to redact information in the debtor's motion to sell its shares in a healthcare claims reimbursement servicer.

  • March 22, 2024

    Minority Investor Seeks Docs As Truth Social Goes Public

    A minority stockholder of the company behind former President Donald Trump's Truth Social has demanded a New York clearing agent share whatever information it got about the company's stockholder lists before Digital World Acquisition Corp. shareholders voted to acquire the social media platform on Friday.

  • March 22, 2024

    Senators Call On White House To Declassify TikTok Info

    A pair of U.S. senators is calling on the Biden administration to declassify information from TikTok and its owner ByteDance, citing national security concerns.

  • March 22, 2024

    DLA Piper Welcomes Energy Attorney To Philly Office

    A transactional attorney specializing in advising clients on renewable energy and sustainability projects has moved her practice from Allen & Overy LLP to DLA Piper's Philadelphia office.

  • March 22, 2024

    SEC Sanctions NY Atty For 'Improper Professional Conduct'

    The U.S. Securities and Exchange Commission has barred a New York-based attorney from practicing before the agency, saying she engaged in "improper professional conduct" by failing to comply with a requirement that she not do further work for a two-year period for a company she had represented in proceedings.

  • March 22, 2024

    DLA Piper Lands McMillan Hong Kong Office Leader

    DLA Piper has hired for its cross-border capital markets practice an experienced attorney who formerly led McMillan LLP's Hong Kong office and was co-chair of the firm's China practice group.

  • March 22, 2024

    US Greenlights Novartis' $2.9B MorphoSys Takeover

    Germany's MorphoSys AG said Friday it has received U.S. antitrust clearance for the biopharmaceutical company's planned $2.9 billion sale to Swiss Pharma giant Novartis AG, a development that clears the final regulatory hurdle needed before closing the deal. 

Expert Analysis

  • 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.

  • Investors With ESG Aims Should Heed Antitrust Reporting Rules

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    As investors globally are embracing environmental, social and governance investing, regulatory agencies have made clear that ESG initiatives are not immune from antitrust scrutiny, and investors cannot count on receiving special exemptions from the Hart-Scott-Rodino Act reporting requirements, say Jonathan Gleklen and Francesca Pisano at Arnold & Porter.

  • US Antitrust Approach Toward ESG Clashes With EU Stance

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    A comparison between how EU and U.S. antitrust enforcers have approached companies' cooperative environmental, social and corporate governance efforts highlights America's comparatively harsh stance, contributing to a difficult compliance climate for international businesses, say attorneys at Steptoe & Johnson.

  • When Investment Banks Can Sell Real Estate In Calif.

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    When investment banks sell businesses that own property in California, they may run into trouble if they are not licensed real estate brokers, unless the property is merely incidental to the deal at hand, say attorneys at Holland & Knight.

  • Merger Guidelines' Broad Tack Ignores Recent Precedent

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    The U.S. Justice Department and Federal Trade Commission's new proposed merger guidelines are consistent with the Biden administration's expansive approach to antitrust enforcement, but they fail to grapple meaningfully with much of modern economic precedent and court decisions requiring greater agency rigor in merger analysis, say attorneys at Freshfields.

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