Mergers & Acquisitions

  • May 13, 2024

    IBM Won't Get Jury Trial In $1.5B Chip Contract Fight

    IBM can't present its claims that a microchip maker swindled it into entering into semiconductor contracts and never followed through to a jury, after a New York state court ruled that those contractual agreements contain enforceable waivers of jury trial rights.

  • May 13, 2024

    Schumer Urges FTC To Block Hess-Chevron Deal, Jabs Trump

    U.S. Senate Majority Leader Chuck Schumer said he was "sounding the alarm" against Chevron Corp.'s planned $53 billion acquisition of Hess Corp. in a post on social media platform X, urging the Federal Trade Commission to halt the deal while criticizing former President Donald Trump for a reported meeting with oil executives.

  • May 13, 2024

    Ex-Police Chief Gets 3 Months For Alexion Insider Trading

    The former police chief of a town in Massachusetts was sentenced Monday to three months in prison after pleading guilty to trading on confidential information about a pending Alexion Pharmaceuticals merger that he said was provided by a "lifelong friend."

  • May 13, 2024

    BofA Says Suit By Commanders Ex-Partner Has Wrong Target

    A former Washington Commanders minority owner's claim that Bank of America and others scammed him out of a bigger share of the eventual sale price of the NFL franchise is "implausible" and "incoherent,'' Bank of America told a Florida federal court in its motion to dismiss the minority owner's suit.

  • May 13, 2024

    White House Bars Real Estate Deal Near Air Force Base

    President Joe Biden is ordering a recent purchaser of real estate near an Air Force base in Wyoming to sell portions of the property, based on a public tip and a finding from the Committee on Foreign Investment in the United States that cryptocurrency mining there presents a national security risk.

  • May 13, 2024

    Chancery Scuttles Unfair Pirate Ship Salvage Co. Merger

    Finding the deal "wholly devoid" of attempts at fairness, a Delaware vice chancellor has ordered the unwinding of a 2018 pirate treasure hunting and salvage company merger with an asset-holding affiliate, while also finding that delay and fading evidence have scuttled minority investor fiduciary breach claims.

  • May 13, 2024

    Catching Up With Delaware's Chancery Court

    Sunken treasure, recycled plastics, questionable denim and dog food all made appearances in Chancery Court dockets last week, along with developments in cases involving Qualcomm, Tesla Inc., and Truth Social. In case you missed it, here's the latest from Delaware's Chancery Court.

  • May 13, 2024

    Paul Weiss Adds Former Kirkland M&A Atty As Partner

    Paul Weiss Rifkind Wharton & Garrison LLP said Monday that the firm has hired a former Kirkland & Ellis LLP mergers and acquisitions partner as a partner in its own M&A practice in New York.

  • May 13, 2024

    Car Paint Biz Buys Industry Peer In Up To $295M Deal

    Philadelphia-based coatings company Axalta Coating Systems on Monday unveiled plans to buy The CoverFlexx Group, which makes and sells coatings for automotive refinishing, from BakerHostetler-led Transtar Holding Co. for up to $295 million.

  • May 13, 2024

    Anglo American Rebuffs Improved £34B BHP Takeover Offer

    British miner Anglo American PLC said Monday that it has rejected a revised £34 billion ($42.7 billion) takeover bid by Australian heavyweight rival BHP Group Ltd., saying that the increased offer "significantly undervalues" the company.

  • May 13, 2024

    Simpson Thacher-Led EQT Bids $1.5B For Wind Energy Biz

    European private equity giant EQT said Monday that it has offered to acquire wind energy developer OX2 for approximately 16.35 million Swedish krona ($1.5 billion) in a deal guided by Simpson Thacher & Bartlett LLP, Gernandt & Danielsson and Vinge KB.

  • May 13, 2024

    Skadden Guides Squarespace On $6.9B Go-Private Deal

    Squarespace Inc. said Monday it has agreed to a $6.9 billion buyout by private equity firm Permira, with Skadden Arps Slate Meagher & Flom LLP serving as lead counsel to the website building company and at least six additional firms guiding the various parties.

  • May 13, 2024

    Justices Won't Review Ch. 11 Stay In Asbestos Cases

    The U.S. Supreme Court won't review lower courts' decisions allowing the paper-products company Georgia-Pacific to remain shielded from mass tort litigation by way of a subsidiary's Chapter 11 case.

  • May 13, 2024

    Biz Adviser FRP Buys UK Risk Manager For £8.4M

    FRP Advisory said on Monday that it has bought commercial finance and risk manager Hilton-Baird for approximately £8.4 million ($10.5 million) in a cash and shares transaction, as the U.K. business consultancy eyes greater European expansion.

  • May 13, 2024

    French Retailer Casino Sells 10.15% Stake In Renewables Biz

    French retail chain Casino said on Monday that it has sold its 10.15% remaining stake in renewables company GreenYellow SAS for €46 million ($50 million) to Ardian, a private equity company, and state-backed investment bank Bpifrance.

  • May 13, 2024

    BetCity Says €850M Buyout Was Good Value Despite Inquiries

    The former owners of online sports betting operator BetCity admit that they breached some of the terms from Entain's €850 million ($920 million) buyout, but have argued that the gambling giant knew of the investigations and failed to seek a better deal.

  • May 10, 2024

    EV Startup Says California Settlement Covers Stockholder Suit

    Backers of a transaction that took electric vehicle startup Faraday Future Intelligent Electric Inc. public with a $1 billion value in 2021 have asked Delaware's Court of Chancery to block discovery in a stockholder challenge to the deal, citing pending settlement of a similar federal action in California.

  • May 10, 2024

    Everton Accepts Two-Point Penalty Over Financial Breaches

    Everton Football Club said Friday it will not fight the decision by the Premier League Independent Commission to impose a two-point deduction for its violation of the league's rules regarding financial viability, as the team faces a potential sale.

  • May 10, 2024

    Guess? Sued To Stop Founders' Alleged Pending Equity Grab

    A pension fund stockholder of Guess? Inc. has sued the company, its founders, and its board in Delaware's Court of Chancery, alleging "a covert attempt to strip the company's public stockholders of their contractual right to equal treatment" in connection with a merger or sale of Guess.

  • May 10, 2024

    Altman's Nuclear Fission Biz Fizzles After SPAC Deal Closes

    Shares of Oklo Inc., a nuclear-fission startup backed by OpenAI CEO Sam Altman, were down nearly 50% on Friday, the company's first day of trading after completing its merger with Altman's special-purpose acquisition company AltC Acquisition Corp.

  • May 10, 2024

    UK Opens Probe Into Thermo Fisher's $3.1B Olink Buy

    Britain's competition watchdog said it is opening an inquiry into Thermo Fisher's $3.1 billion bid to buy Swedish biotech firm Olink Holding AB over competition concerns, according to an official notice issued Friday.

  • May 10, 2024

    Ex-Pillsbury Communications Leader Joins Dickinson Wright

    Dickinson Wright PLLC announced that a longtime Pillsbury Winthrop Shaw Pittman LLP attorney who previously served as chair of the firm's communications practice has joined its Washington, D.C., office as a member.

  • May 10, 2024

    Digital Platform Xtribe To Go Public Via $141M SPAC Merger

    Technology-driven marketplace company Xtribe PLC, advised by Cozen O'Connor PC, has announced plans to go public via a merger with Haynes and Boone LLP-led special-purpose acquisition company WinVest Acquisition Corp. in a deal that values Xtribe at an implied equity value of $141 million.

  • May 10, 2024

    2 Firms Guide United Bankshares On $267M Piedmont Buy

    Bowles Rice LLP and Sullivan & Cromwell LLP are representing United Bankshares Inc. on a $267 million agreement to buy Georgia-based Piedmont Bancorp Inc., which the lenders disclosed Friday and said marks United's 34th acquisition.

  • May 10, 2024

    Climate Control Co. Favors Apollo-Backed €392M Buyout Bid

    European climate control specialist Purmo said on Friday its board intends to recommend its purchase by a special purpose vehicle indirectly owned by U.S. private equity giant Apollo Global Management and Rettig, a Finnish investment company, for approximately €392 million ($422 million or £337.5 million).

Expert Analysis

  • Navigating SPAC Market Challenges For Microcap Issuers

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    For microcap issuers, the special-purpose acquisition vehicle market tells a cautionary tale in which few targets attain the advantages they seek, and important considerations for companies with market capitalization of under $300 million include negotiating costs and expenses upfront to avoid becoming saddled with debt, say attorneys at Lucosky Brookman.

  • Think Like A Lawyer: Follow The Iron Rule Of Trial Logic

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    Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.

  • The Art Of Asking: Leveraging Your Contacts For Referrals

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    Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.

  • The Drawbacks Of Banking Regulators' Merger Review Plans

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    Recent proposals for bank merger review criteria by the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. share common pitfalls: increased likelihood of delays, uncertainties, and new hurdles to transactions that could impede the long-term safety and soundness of the banks involved, say attorneys at WilmerHale.

  • Series

    Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • 7th Circ. Mootness Fee Case May Curb Frivolous Merger Suits

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    On April 15, the Seventh Circuit in Jorge Alcarez v. Akorn Inc. mapped out a framework for courts to consider mootness fees paid to individual shareholders after the voluntary dismissal of a challenge to a public company merger, which could encourage objections to mootness fees and reduce the number of frivolous merger challenges filed, say attorneys at Skadden.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

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    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • What 3rd Circ. Trust Ruling Means For Securitization Market

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    Mercedes Tunstall and Michael Gambro at Cadwalader break down the Third Circuit's March decision in Consumer Financial Protection Bureau v. National Collegiate Master Student Loan Trust, as well as predict next steps in the litigation and the implications of the decision for servicers and the securitization industry as a whole.

  • Ensuring Nonpublic Info Stays Private Amid SEC Crackdown

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    Companies and individuals must take steps to ensure material nonpublic information remains confidential while working outside the office, as the U.S. Securities and Exchange Commission continues to take enforcement actions against those who trade on MNPI and don't comply with new off-channel communications rules in the remote work era, say attorneys at BakerHostetler.

  • Behind Indiana's Broad New Healthcare Transactions Law

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    The high materiality threshold in Indiana's recently passed healthcare transaction law, coupled with the inclusion of private equity in its definition of healthcare entities, makes it one of the broadest state review regulations to date, say attorneys at DLA Piper.

  • Highlights From The 2024 ABA Antitrust Spring Meeting

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    U.S. merger enforcement and cartels figured heavily in this year's American Bar Association spring antitrust meeting, where one key takeaway included news that the Federal Trade Commission's anticipated changes to the Hart-Scott-Rodino form may be less dramatic than many originally feared, say attorneys at Freshfields.

  • What FERC's Disclosure Demands Mean For Cos., Investors

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    Two recent Federal Energy Regulatory Commission orders reflect the commission's increasingly meticulous approach to reviewing corporate structures in applications for approval of proposed consolidations, acquisitions or changes in control — putting the onus on the regulated community to track and comply with ever-more-burdensome disclosure requirements, say attorneys at Willkie.

  • Del. Match.com Ruling Maintains Precedent In Time Of Change

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    Despite speculation that the Delaware Supreme Court could drive away corporations if it lowered the bar for business judgment review in its Match.com stockholder ruling, the court broke its recent run of controversial precedent-busting decisions by upholding, and arguably strengthening, minority stockholder protections against controller coercion, say Renee Zaytsev and Marc Ayala at Boies Schiller.

  • FDIC Bank Merger Reviews Could Get More Burdensome

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    Recently proposed changes to the Federal Deposit Insurance Corp. bank merger review process would expand the agency's administrative processes, impose new evidentiary burdens on parties around competitive effects and other statutory approval factors, and continue the trend of long and unpredictable processing periods, say attorneys at Simpson Thacher.

  • Series

    Whitewater Kayaking Makes Me A Better Lawyer

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    Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.

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