Mergers & Acquisitions

  • March 25, 2024

    FTX Reaches Deals For $884M In Ch. 11 AI Biz Stock Sales

    Bankrupt cryptocurrency exchange FTX Trading Ltd. informed a Delaware court that it has reached agreements with two dozen purchasers for sales of the debtor's holdings in artificial intelligence company Anthropic PBC worth $884.1 million.

  • March 25, 2024

    TreeHouse Shareholders Get New Chance To Sue Execs

    An Illinois appellate panel reversed a Cook County judge Friday and revived a derivative lawsuit demanding that TreeHouse Foods sue three individual executives the shareholders claim materially misled them by falsely stating that two newly acquired companies were being successfully integrated into the food company's operations.

  • March 25, 2024

    Qualcomm Halts Plan To Buy Israeli Biz Under Regulatory Heat

    The Federal Trade Commission is celebrating Qualcomm's decision to abandon its attempts at acquiring an Israeli company that makes chips that allow vehicle-to-vehicle communication after too much regulatory pushback.

  • 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.

Expert Analysis

  • Identifying Trends And Tips In Litigation Financing Disclosure

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    Growing interest and controversy in litigation financing raise several salient concerns, but exploring recent compelled disclosure trends from courts around the country can help practitioners further their clients' interests, say Sean Callagy and Samuel Sokolsky at Arnold & Porter.

  • Key Drivers Behind Widespread Adoption Of NAV Financing

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    While net asset value-based lending has existed for years, NAV lending has only started to move into the mainstream recently — likely due to difficult market conditions faced by sponsors including persistent inflation, high interest rates and a lack of exit opportunities, say Matthew Kerfoot and Jinyoung Joo at Proskauer.

  • Series

    The Pop Culture Docket: Judge Elrod On 'Jury Duty'

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    Though the mockumentary series “Jury Duty” features purposely outrageous characters, it offers a solemn lesson about the simple but brilliant design of the right to trial by jury, with an unwitting protagonist who even John Adams may have welcomed as an impartial foreperson, says Fifth Circuit Judge Jennifer Elrod.

  • Keys To Robust AML Programs At Private Funds

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    Attorneys at Lowenstein Sandler explain why hedge funds, private equity funds and venture capital funds should develop risk-based anti-money laundering compliance programs despite not being subject to the Bank Secrecy Act, and offer tips on setting up a program similar to those implemented by financial institutions.

  • 4 Business-Building Strategies For Introvert Attorneys

    Excerpt from Practical Guidance
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    Introverted lawyers can build client bases to rival their extroverted peers’ by adapting time-tested strategies for business development that can work for any personality — such as claiming a niche, networking for maximum impact, drawing on existing contacts and more, says Ronald Levine at Herrick Feinstein.

  • Mass. Dispute Highlights R&W Insurance Considerations

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    The progression of the litigation in a Massachusetts state court between pH Beauty and its representations and warranties insurers to the summary judgment stage offers rare insight into coverage disputes that can arise under such policies, including takeaways for buyers and sellers looking to procure adequate coverage for future transactions, say attorneys at Hunton.

  • Opinion

    3 Ways Justices' Disclosure Defenses Miss The Ethical Point

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    The rule-bound interpretation of financial disclosures preferred by U.S. Supreme Court Justices Samuel Alito and Clarence Thomas — demonstrated in their respective statements defending their failure to disclose gifts from billionaires — show that they do not understand the ethical aspects of the public's concern, says Jim Moliterno at the Washington and Lee University School of Law.

  • 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.

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