Mergers & Acquisitions

  • April 17, 2024

    Karuna Investor Ends Suit After Bristol-Myers Seals $14B Deal

    A Karuna Therapeutics shareholder has dropped her proposed class action after Bristol-Myers Squibb Co. completed its $14 billion purchase of the biotechology company, a deal the suit alleged was brought about by misrepresentations to investors to gain their support.

  • April 17, 2024

    MoFo Advises Southwest Gas Carve-Out Centuri's $260M IPO

    Southwest Gas Holdings Inc.'s infrastructure services unit Centuri Holdings Inc. on Wednesday priced a $260.4 million initial public offering at the top of its range, enabling Centuri to become a standalone public company, represented by Morrison Foerster LLP and underwriters' counsel Skadden Arps Slate Meagher & Flom LLP.

  • April 17, 2024

    Lawmaker Says New Merger Guides Hurt Small Businesses

    The head of the House Small Business Committee has sent letters to the U.S. Department of Justice and Federal Trade Commission, contending enforcers did not fully consider how new merger guidelines will impact the small business community.

  • April 17, 2024

    Jury Says Caterpillar's Interference Cost Equipment Co. $100M

    A jury in Delaware has rejected antitrust claims against Caterpillar but found that the equipment maker caused a defunct importer $100 million in damages by interfering with its contract to sell equipment through an online sales platform.

  • April 17, 2024

    Dems Uneasy Over ESPN, Fox, Warner Sports Streaming App

    A pair of House Democrats have raised concerns over plans by ESPN, Fox and Warner Bros. Discovery's to combine their vast live sports portfolios into a single app, pressing the programmers for details to ensure the joint venture won't increase consumer prices and degrade licensing terms for leagues and distributors.

  • April 17, 2024

    Bankman-Fried Appeal May Cite Unusual Preview Testimony

    Sam Bankman-Fried's appeal of his conviction and 25-year prison sentence may cite a "rather unprecedented" trial procedure in which the FTX founder gave provisional testimony before officially taking the witness stand last year, one of his attorneys said Wednesday.

  • April 17, 2024

    Manatt Adds NY Bankruptcy, Financial Regulatory Partners

    Manatt Phelps & Phillips LLP announced that it hired a pair of experienced New York-based attorneys who focus their practices on regulatory matters as partners in its bankruptcy and financial regulatory practices.

  • April 17, 2024

    American Urges 1st Circ. To Reject 'Radical' JetBlue Ruling

    American Airlines has told the First Circuit that a judge's "radical vision of the antitrust laws" that blocked its Northeast Alliance joint venture with JetBlue shouldn't stand, arguing that federal enforcers are relying on misleading claims and outdated precedent to prop up the lower court's mistaken conclusion.

  • April 17, 2024

    Loeb & Loeb Adds 2 Corporate Partners From Morrison Cohen

    Loeb & Loeb LLP has announced the latest in a string of corporate hires from Morrison Cohen LLP's ranks, touting two new partners with domestic and international experience with strategic transactions.

  • April 17, 2024

    TPG Plugs $235M Into Supply Chain Risk Intelligence Platform

    Counterparty and supply chain risk intelligence platform Sayari, advised by Manatt Phelps & Phillips LLP, on Wednesday revealed that it closed on an upsized $235 million strategic majority investment from Kirkland & Ellis LLP-advised private equity shop TPG, which will provide the company with additional capital to support continued growth.

  • April 17, 2024

    Vinci To Buy Controlling Stake In Edinburgh Airport For £1.3B

    Vinci SA said Wednesday that one of its subsidiaries has agreed to buy a 50.01% stake in Edinburgh Airport for £1.27 billion ($1.58 billion), as the French infrastructure giant eyes growth at the Scottish flight hub.

  • April 16, 2024

    House Panel Takes Aim At Change Healthcare, FTC Over Hack

    A House subcommittee exploring ways to boost cybersecurity in the healthcare industry on Tuesday blasted Change Healthcare for failing to take appropriate steps to block a damaging cyberattack that echoed another recent strike on critical infrastructure and the Federal Trade Commission for not stopping the provider from controlling such a large market share. 

  • April 16, 2024

    Autonomy CEO Pressured JPMorgan Over Analyst, Jury Told

    An ex-JPMorgan stock analyst testifying Tuesday in the criminal fraud trial of former Autonomy CEO Michael Lynch told jurors that the software company founder responded with hostility when his research reports questioned its growth, and that Lynch offered JPMorgan millions in business if he were taken off the Autonomy beat.

  • April 16, 2024

    NC Treasurer Backs FTC On Hospital Merger Challenge

    North Carolina's treasurer agreed Monday that Novant Health's $320 million plan to pick up a pair of hospitals is a bad idea, throwing its weight behind the Federal Trade Commission's challenge to the deal in federal court.

  • April 16, 2024

    9th Circ. Upholds Tossing Skillz Gaming Tech Investor Suit

    The Ninth Circuit on Tuesday upheld a decision to toss a proposed class action claiming that mobile gaming company Skillz Inc. misled investors about its technology prior to a 2021 merger with a special purpose acquisition company, ruling that issues with the gaming software do not make the company' statements false or misleading.

  • April 16, 2024

    Hedge Fund Asks Court To Toss REIT's Suit In Takeover Row

    New York hedge fund Blackwells Capital LLC fired off the latest shot in its ongoing board takeover spat with a Texas-based hotel real estate investment trust, asking Monday for a federal judge to toss a lawsuit aimed at warding off the proxy contest.

  • April 16, 2024

    Ex-Minority Owner Of Commanders Sues BofA Over Team Sale

    A former minority owner of the Washington Commanders has accused Bank of America and affiliated entities of conspiring with the team's former majority owner to buy 40% of the franchise at a discount, only to turn around and later sell all of it for $6 billion.

  • April 16, 2024

    Flyers Challenge $1.9B Hawaiian-Alaska Airlines Merger

    Alaska Airlines is facing an antitrust lawsuit from flyers alleging that its proposed $1.9 billion acquisition of Hawaiian Airlines will reduce competition in the airline industry, raise prices and potentially cause layoffs.

  • April 16, 2024

    Barnes & Noble Education Reaches Deals To Reduce Debt

    Paul Hastings LLP-advised Barnes & Noble Education Inc., which provides solutions for the education industry, on Tuesday announced that it has entered into various agreements meant to significantly strengthen its long-term financial position and reduce its debt, allowing the company to continue investing in education innovation.

  • April 16, 2024

    Amundi, Victory Capital Ink Strategic Partnership Agreement

    France's Amundi will merge its Amundi US unit with Texas-based Victory Capital in exchange for a 26.1% stake in the latter firm, in a deal that would bolster Amundi's U.S. presence while expanding Victory's worldwide distribution channels, the asset managers said Tuesday.

  • April 16, 2024

    McDermott Hires 2 Partners For Global Tax Practice In Paris

    McDermott Will & Emery is expanding its global tax practice group with two partners in Paris who have a track record of advising on cross-border mergers and acquisitions and tax controversies before France's tax authority, the firm announced. 

  • April 16, 2024

    Activist Axes $3.6B SilverBow Merger Plan Amid Proxy Fight

    New York-based asset manager Kimmeridge said Tuesday it has scrapped its March offer to create a $3.6 billion Eagle Ford shale operator by combining the assets of Kimmeridge Texas Gas with those of shale driller SilverBow Resources, stating it will now focus on getting its three nominees elected to SilverBow's board. 

  • April 16, 2024

    Latham Adds 2 Simpson Thacher Attys To Its NY Office

    Latham & Watkins LLP has added two attorneys from Simpson Thacher & Bartlett LLP for its New York office, one of whom joins as co-chair of its global hybrid capital practice.

  • April 16, 2024

    International Paper Co. To Buy UK Rival DS Smith For £5.8B

    International Paper Co. said on Tuesday that it has agreed to acquire packaging provider DS Smith PLC in an all-share deal valuing the U.K. group at £5.8 billion ($7.2 billion), after fighting off a competing bid by Mondi PLC.

  • April 16, 2024

    HSF-Guided Hostmore To Buy TGI Fridays For £177M

    British restaurant group Hostmore said Tuesday that it has agreed to acquire the American-themed casual dining business TGI Fridays for an enterprise value of £177 million ($220 million) in a deal guided by Herbert Smith Freehills LLP and Ropes & Gray LLP.

Expert Analysis

  • 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.

  • 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.

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