Mergers & Acquisitions

  • April 12, 2024

    TRO Won't Save Auto Supplier From Fallout, Judge Says

    A Colorado federal judge on Friday denied an auto part supplier's bid to force a business partner to follow through on an exclusivity deal, ruling that a temporary restraining order may not prevent the supplier from having to shut down a facility.

  • April 12, 2024

    Hedge Fund Fires Back At Hotel REIT With Proxy Contest Suit

    Blackwells Capital LLC has fired back at Braemar Hotels & Resorts Inc. with a lawsuit against the hotel REIT and its board chair Monty Bennett, seeking a green light to move forward with a campaign to place its own candidates on the company's board.

  • April 12, 2024

    FTC Taking Deeper Look At $35B Synopsys-Ansys Merger

    The Federal Trade Commission is opening an in-depth review of Synopsys' $35 billion acquisition of fellow software company Ansys, with Synopsys telling investors that the agency had issued a "second request" for information from both companies.

  • April 12, 2024

    DOJ Must Cut Through Political Noise In US Steel Probe

    The U.S. Department of Justice has its work cut out for it as it conducts a probe of Nippon Steel's planned $14.9 billion takeover of U.S. Steel, a potentially drawn out process that experts say will test the antitrust division's ability to remain objective in the face of immense pressure from President Biden, an influential union, and a concurrent CFIUS review. 

  • April 12, 2024

    US Steel Stockholders Greenlight $14.9B Sale To Nippon

    U.S. Steel said Friday that its shareholders have "overwhelmingly" approved the American steel company's nearly $15 billion takeover by Japan's Nippon Steel, a positive development in a deal that's otherwise received a high degree of political and regulatory scrutiny. 

  • April 12, 2024

    Lionsgate Ups PIPE To $225M Before $4.6B SPAC Merger

    Entertainment and production giant Lionsgate on Friday is raising the amount of its private investment in public equity related to its planned $4.6 billion merger with special purpose acquisition company Screaming Eagle Acquisition Corp. to $225 million, according to a filing with the U.S. Securities and Exchange Commission.

  • April 12, 2024

    Trump Media Attys Flag Co-Founders' Del. Suit Expansion

    Attorneys for Trump Media & Technology Group and its insiders have objected to what they say is an attempt by two co-founders to secure fast-tracking of an expanded but still-sealed Chancery Court lawsuit initially focused on share-dilution claims against company insiders.

  • April 12, 2024

    Off The Bench: Ohtani 'Victim' In Theft, Arbitration Nod To NFL

    In this week's Off The Bench, Shohei Ohtani looks to get off the hook on sports-betting allegations while his former interpreter faces charges, the NFL wins a critical court victory in the Brian Flores lawsuit, and troubled WWE founder Vince McMahon cuts even more financial ties with the company.

  • April 12, 2024

    HomeStreet Hit With Shareholders Suit Over FirstSun Merger

    Banking company HomeStreet Inc. has been hit with a proposed class action alleging that it failed to disclose details about the sale process of its merger with FirstSun Capital Bancorp., saying that the company entered into the agreement with "little to no consideration" to any of its shareholders.

  • April 12, 2024

    EU Approves Biotech Co. Illumina's Plan To Divest Grail

    European Union antitrust authorities on Friday approved Illumina's plan to sell off Grail, the latest development in a saga that saw the biotech company reverse course and agree to offload the cancer-screening company after authorities claimed the reacquisition was completed "unlawfully."

  • April 12, 2024

    Hornblower Gets OK For Creditor Vote On Ch. 11 Plan

    A Texas bankruptcy judge on Friday sent Hornblower Holdings' Chapter 11 plan out for a creditor vote after hearing the cruise and tour operator had resolved creditor objections to its plan disclosure statement.

  • April 12, 2024

    UK To Probe Norwegian Oil & Gas Data Mega-Merger

    The U.K.'s Competition and Markets Authority said on Friday it has launched an inquiry into the proposed purchase of Norwegian seismic data specialist PGS by a subsidiary of its domestic rival TGS, which supplies data to energy companies.

  • April 11, 2024

    Autonomy Became Less Transparent Before Sale, Jury Told

    An ex-market analyst testifying Thursday in a California criminal trial over claims that former Autonomy CEO Michael Lynch duped HP into buying the British company for $11.7 billion told jurors that the company became less forthcoming about some of its accounting a couple of years before the sale.

  • April 11, 2024

    FTC 'Hopeful' Merger Judges Can See Past Market Definition

    The Federal Trade Commission's top antitrust enforcer emphasized Thursday that the FTC and Justice Department's new merger guidelines could facilitate transaction challenges based solely on "direct" competitive effects, regardless of what market definition numbers indicate.

  • April 11, 2024

    Flopped Casino SPAC Investor Sues In Del. To Block Payout

    An investor in a special purpose acquisition company that made a doomed, $2.7 billion effort to buy a casino in the Philippines has asked Delaware's Court of Chancery to prevent the SPAC from redeeming its outstanding shares, arguing it would violate Delaware law because the SPAC is insolvent.

  • April 11, 2024

    Nogin Can Get Another $3M In Ch. 11 Cash To Get Plan Done

    E-commerce company Nogin Inc. received permission Thursday from a Delaware bankruptcy court to draw another $3 million in Chapter 11 financing as it continues working toward implementing its court-approved restructuring plan.

  • April 11, 2024

    Arax Buys US Capital Wealth In Latest Asset Manager Merger

    Wealth management platform Arax Investment Partners, advised by Fried Frank Harris Shriver & Jacobson LLP, announced on Thursday that its assets under management will grow to $16 billion following its acquisition of independent wealth management firm U.S. Capital Wealth Advisors, in a deal marking the latest in a string of mergers between asset managers.

  • April 11, 2024

    Investors Get OK For $111M Ponzi Case Receiver Passed On

    A Colorado federal judge has given the green light for a group of investors to seek over $111 million from a forex-focused financial technology firm in the U.K. and its affiliate, in a lawsuit alleging they played an instrumental role in a scheme that duped investors and drew the attention of U.S. securities regulators and prosecutors.

  • April 11, 2024

    Deals Rumor Mill: US Steel, Germany's Stada, Paramount

    The DOJ opens a probe into Nippon’s proposed $14.9 billion takeover of US Steel, German drugmaker Stada explores a sale, and Paramount and Skydance are hashing out potential deal terms. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • April 11, 2024

    Del. Justices OK Denial Of Icahn-Illumina Midcase Appeal Bid

    Billionaire investor Carl Icahn may not put his Chancery Court litigation against biotechnology company Illumina Inc.'s board on hold for a review of a decision that struck portions of the complaint that were based on confidential information, Delaware's Supreme Court said Thursday, upholding the lower court's rejection of the midcase appeal.

  • April 11, 2024

    State Enforcers: Not Joining Fed Cases No Sign Of Opposition

    Several state enforcers said Thursday they choose which antitrust cases being brought by federal enforcers they join based on a number of factors, and it doesn't mean they are opposed to a case if they decide not to join.

  • April 11, 2024

    Kirkland, Jones Day Build $787.5M Sale Of Steris' Dental Unit

    Medical device company Steris, advised by Jones Day, on Thursday announced plans to sell its dental segment to Kirkland & Ellis LLP-advised middle market private equity shop Peak Rock Capital for $787.5 million.

  • April 11, 2024

    Jury Frees Urban Outfitters From Trade Secrets Suit

    Urban Outfitters on Thursday beat back a lawsuit from a bankrupt online fashion rental company claiming the retailer stole its proprietary information to set up a competing business, with a Philadelphia federal jury finding that the clothing chain did not misappropriate trade secrets.

  • April 11, 2024

    Treasury Proposes Steeper Foreign Investment Law Penalties

    The U.S. Department of the Treasury issued a notice Thursday proposing to sharpen its procedures and enforcement practices for reviewing foreign investment deals for national security issues, according to an announcement.

  • April 11, 2024

    SocGen To Sell Equipment Finance Unit To Rival For €1.1B

    French banking giant Societe Generale SA said Thursday that it has agreed to sell its professional equipment financing business to rival BPCE for €1.1 billion ($1.2 billion) to streamline the business and bolster its equity capital.

Expert Analysis

  • Caregiver Flexibility Is Crucial For Atty Engagement, Retention

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    As the battle for top talent continues post-pandemic, many firms are attempting to attract employees with progressive hybrid working environments — and supporting caregivers before, during and after an extended leave is a critically important way to retain top talent, says Manar Morales at The Diversity & Flexibility Alliance.

  • Leveraged Finance Market May Rebound After Cruel Summer

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    It has been a challenging summer for the leveraged finance market due to the economic climate and tight credit conditions, but cooling inflation and signs of life in the syndicated loan market suggest brighter days ahead, say attorneys at Weil.

  • FTC's Proposed HSR Changes Will Complicate Merger Filings

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    Attorneys at Mayer Brown explore the proposed sweeping revisions to Hart-Scott-Rodino Act premerger notification rules and what the change would mean for deal terms, including the increased cost, uncertainty and risk added to the process.

  • In-Office Engagement Is Essential To Associate Development

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    As law firms develop return-to-office policies that allow hybrid work arrangements, they should incorporate the specific types of in-person engagement likely to help associates develop attributes common among successful firm leaders, says Liisa Thomas at Sheppard Mullin.

  • Private Equity Dry Powder Will Likely Spur M&A Opportunities

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    Despite economic uncertainty and recent headwinds, pent-up dry powder left uninvested by private equity firms may translate into pressure to invest capital and maintain high returns, possibly leading to M&A growth in the second half of the year, say attorneys at Norton Rose.

  • 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.

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