Mergers & Acquisitions

  • 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.

  • May 06, 2024

    Latham & Watkins, Simpson Thacher Steer Healthcare JV

    Healthcare Realty Trust Inc. and KKR announced on Monday that the two have entered a joint venture to own and invest in quality medical outpatient buildings, in a deal guided by Latham & Watkins LLP and Simpson Thacher & Barlett LLP.

  • May 06, 2024

    Truth Social Backer 'Absolutely' Denies Insider Rap To Jury

    An investment pro told a Manhattan federal jury Monday that he never tipped Florida speculators to a confidential plan to take former President Donald Trump's media concern Truth Social public, taking the stand to fight insider trading charges against him.

  • May 06, 2024

    Catching Up With Delaware's Chancery Court

    A record $100 million settlement, a fishy Facebook decision, a canceled Amazon delivery and an upended $7.3 billion sale dispute topped the news out of Delaware's Court of Chancery last week. There were also new cases involving Hess, Microsoft and the 2022 World Cup.

  • May 06, 2024

    Clifford Chance Continues 2024 Growth In New York, Houston

    Clifford Chance continued its recent aggressive expansion by growing its Houston and New York offices with two attorneys specializing in energy, taxation and mergers and acquisitions, bringing the firm's lateral hires up to 10 attorneys in 2024.

  • May 06, 2024

    Trump Media Hires Auditor To Replace Firm Accused Of Fraud

    Trump Media and Technology Group Corp. has hired a new auditor, replacing its predecessor firm, which was permanently suspended by securities regulators Friday for alleged "massive fraud" regarding its work with hundreds of clients, according to a filing Monday.

  • May 06, 2024

    Synopsys Selling Software Biz To PE Firms In $2.1B Deal

    Software firm Synopsys Inc. on Monday announced that it is selling its Software Integrity Group business to private equity firms Clearlake Capital Group LP and Francisco Partners for up to $2.1 billion in a deal built by three firms.

  • May 06, 2024

    Orrick Adds 7-Atty M&A Team From Shearman Italian Arm

    The former head of Studio Legale Associato Shearman & Sterling LLP's Italian mergers and acquisitions practice joined Orrick Herrington & Sutcliffe LLP's M&A and private equity team in Milan, the firm announced Monday.

  • May 06, 2024

    Perficient Stock Soars On $3B Buyout By EQT Asia Fund

    St. Louis-based digital consultancy Perficient Inc. said it has agreed to be taken private by an affiliate of Swedish private equity firm EQT's Baring Asia Private Equity Fund VIII at an approximately $3 billion enterprise value, a disclosure that sent Perficient's stock soaring more than 50% on Monday.

  • May 06, 2024

    3 Firms Build $6.2B Take-Private Sale Of Allete Energy Biz

    A consortium of buyers led by the Canada Pension Plan Investment Board and Global Infrastructure Partners unveiled plans Monday to buy and take private Minnesota-based energy company Allete Inc., in a $6.2 billion deal put together by at least three firms.

  • May 06, 2024

    Battery Startup Ambri Hits Ch. 11 With Lender Sale Plans

    Massachusetts battery developer Ambri Inc. filed for Chapter 11 protection in Delaware with over $50 million in liabilities and a credit bid stalking horse offer from a group of secured noteholders after fundraising efforts last year fell short.

  • May 03, 2024

    HR Biz Kelly Buys Talent Solutions Co. MRP For Up To $485M

    Human resources consulting services company Kelly, guided by Jasso Lopez PLLC, on Friday unveiled plans to buy BakerHostetler-advised Motion Recruitment Partners LLC from Greenwich, Connecticut-based private investment firm Littlejohn & Co. LLC for up to $485 million, marking Kelly's largest-ever acquisition.

  • May 03, 2024

    Hospital In Novant Merger Beset By Staff Turnover, Court Told

    The Federal Trade Commission and two healthcare companies used witness testimony Friday to paint competing pictures of a North Carolina hospital at the center of a $320 million merger dispute: one in which the hospital has focused on making quality improvements, and another where it's been plagued by poor ratings and high staff turnover.

  • May 03, 2024

    DuPont, Corteva Want 'Schrödinger's Cat' Class Decertified

    DuPont and Corteva Inc. asked a Pennsylvania federal court Friday to undo class certification for former employees who claim they were wrongly denied an "optional retirement" when DuPont de Nemours Inc. and Corteva's parent companies merged and they were spun off, arguing that the two class representatives' claims clash with the rest of the class.

  • May 03, 2024

    Chancery OKs Extra Digging Into Trump Media Share Dispute

    The sponsor of a special-purpose acquisition company that took Donald Trump's social media venture public earlier this year won Delaware Court of Chancery approval Friday to briefly dig deeper into disputed share-exchange terms for the deal, with more than $58 million on the line.

  • May 03, 2024

    Hess-Chevron Merger Hit With Class Disclosure Suit In Del.

    A Hess stockholder sued the energy company in Delaware's Court of Chancery over alleged deal disclosure failures in the proposed $53 billion Chevron-Hess merger, adding to a list of complications that include claims by other energy giants to Hess interests.

  • May 03, 2024

    EU OKs Nippon-US Steel Deal As DOJ Causes Delayed Close

    The European Commission on Friday indicated via an annotation on its merger review page that it has given Nippon Steel's controversial $14.9 billion acquisition of U.S. Steel its unconditional approval, a move that comes just a day after the parties announced the deal would be delayed due to further scrutiny from the U.S. Department of Justice.

Expert Analysis

  • Lessons From Country Singer's Personal Service Saga

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    Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.

  • Inside Del. Determinations Of Specific Performance In M&A

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    Delaware M&A rulings, including several from the end of 2023, shed light on the facts that courts may consider when determining whether a party to a transaction is entitled to specific performance, say attorneys at White & Case and Odeko.

  • 9 Contractual Issues Tech Startups Should Be Wary Of

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    Technology startups often overlook relatively simple but crucial contracting steps that are essential to owning and protecting their intellectual property, and the consequences of this will almost always surface at some point, typically in connection with a key investment or other significant transaction involving the business, say attorneys at Mayer Brown.

  • A Potential Proactive Tool For Public-Private Joint Ventures

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    In the current environment of heightened antitrust enforcement, the National Cooperative Research and Production Act seems tailor-made for the collaborative work among competitors encouraged by the Biden administration's infrastructure and green energy funding legislation, say Jeetander Dulani and Susan Ebner at Stinson.

  • Bracing For Calif.'s New Health Transaction Framework

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    As California's new cost and market impact review regulations' April 1 date for its updated notice and review process approaches, healthcare entities should ready themselves for dramatic changes to the state's regulatory landscape and prepare for potentially substantial transaction delays, say Jordan Grushkin and Matthew Goldman at Sheppard Mullin.

  • FERC Actions Signal Concern Over Investors' Utility Stakes

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    Two recent orders and a notice of inquiry from the Federal Energy Regulatory Commission on the subject of whether large investors are asserting control of public utilities signal increasing regulatory scrutiny of the investment community's influence over the electric power industry, say attorneys at Day Pitney.

  • 10 Global Antitrust Trends To Anticipate In 2024

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    Proactive navigation of the antitrust enforcement environment remains crucial this year as legal policy and tools evolve to meet intensifying global economic complexity, including geopolitical tensions, trade realignment, market volatility and inflation, say attorneys at Freshfields.

  • Series

    Baking Bread Makes Me A Better Lawyer

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    After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.

  • Federal Courts And AI Standing Orders: Safety Or Overkill?

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    Several district court judges have issued standing orders regulating the use of artificial intelligence in their courts, but courts should consider following ordinary notice and comment procedures before implementing sweeping mandates that could be unnecessarily burdensome and counterproductive, say attorneys at Curtis.

  • Time To Step Up PFAS Due Diligence In Cross-Border M&A

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    Regulations in the U.S. and EU governing per- and polyfluoroalkyl substances will likely evolve to become global standards out of necessity and scale, so PFAS due diligence — particularly for buyers, sellers, and lenders and investors involved in multijurisdictional mergers and acquisitions — will be essential in 2024, say attorneys at Shipman & Goodwin.

  • What Can Be Learned From Adobe-Figma Merger Termination

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    The Competition and Markets Authority’s role in the recent termination of the proposed Adobe-Figma merger deal indicates the regulator's intention to be seen as a strong enforcer in the technology sphere, and serves as a warning for companies to address antitrust risks early on in the merger process, say Deirdre Taylor and Molly Heslop at Gibson Dunn.

  • Wachtell-X Ruling Highlights Trend On Arbitrability Question

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    A growing body of case law, including a California state court's recent decision in X Corp. v. Wachtell, holds that incorporation of specific arbitral body rules in an arbitration provision may in and of itself constitute clear and unmistakable evidence of delegation of arbitrability to an arbitrator, and thus such clauses should be drafted carefully, say attorneys at Norton Rose.

  • 7 E-Discovery Predictions For 2024 And Beyond

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    The legal and technical issues of e-discovery now affect virtually every lawsuit, and in the year to come, practitioners can expect practices and policies to evolve in a number of ways, from the expanded use of relevancy redactions to mandated information security provisions in protective orders, say attorneys at Littler.

  • Consider A Key Insurance Tool For Environmental M&A Deals

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    Transactional liability insurance can be a useful risk allocation tool for completing mergers and acquisitions in the renewable energy and climate and clean technology sectors, though policies must be structured carefully to achieve maximum coverage, say Joseph Castelluccio and Paul de Bernier at Mayer Brown.

  • 2 FCPA Settlements Illuminate Self-Disclosure, Disgorgement

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    Two of last year’s Foreign Corrupt Practices Act settlements — with biomedical company Lifecore and mining company Corsa Coal — suggest that the government will be much more flexible in negotiating disgorgement amounts if an entity voluntarily self-discloses misconduct, say Michael Gilbert and Lucas Amodio at Sheppard Mullin.

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