Mergers & Acquisitions

  • April 17, 2024

    RTX Investor Sues Brass In Del. For Better Antitrust Oversight

    A shareholder of RTX has sued the aerospace and defense giant's current and former officers and directors in Delaware's Court of Chancery, accusing them of failing over a period of at least eight years to prevent antitrust violations in the company's hiring practices.

  • April 17, 2024

    DC Judge Questions 7-Eleven Position On FTC Constraints

    A D.C. federal judge on Wednesday pressed counsel for 7-Eleven on the company's claims that only the U.S. attorney general can seek civil penalties on behalf of the Federal Trade Commission, questioning how the commission itself can be limited when the FTC Act gives it the right to take up actions if the U.S. Department of Justice does not.

  • April 17, 2024

    Don't Ignore Problematic Merger Docs, FTC Comp Chief Says

    The Federal Trade Commission's top antitrust enforcer urged merging parties Wednesday to be fully open and transparent with reviewing staffers, warning that trying to get enforcers to ignore potentially problematic material just makes their jobs more difficult.

  • 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. 

Expert Analysis

  • Amgen-Horizon Deal May Signal FTC's Return To Bargaining

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    The Federal Trade Commission's recent settlement of its challenge to Amgen's proposed acquisition of Horizon Therapeutics marks the latest in a string of midlitigation settlements, and may signal that competition regulators are more inclined toward such negotiations following recent litigation losses, say attorneys at Freshfields.

  • Transaction Risks In Residential Mortgage M&A Due Diligence

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    As the residential mortgage market continues to consolidate due to interest rate increases and low housing volume, buyers and sellers should pay attention to a number of compliance considerations ranging from fair lending laws to employee classification, say attorneys at Mayer Brown.

  • ABA's Money-Laundering Resolution Is A Balancing Act

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    While the American Bar Association’s recently passed resolution recognizes a lawyer's duty to discontinue representation that could facilitate money laundering and other fraudulent activity, it preserves, at least for now, the delicate balance of judicial, state-based regulation of the legal profession and the sanctity of the attorney-client relationship, say attorneys at Ballard Spahr.

  • With Equity Markets Down, Venture Lending Provides Solution

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    Given the growth of private debt funds, new entrants in the market and equity markets remaining sluggish, more borrowers are turning to venture debt financing, with long-standing venture funds offering flexibility and expertise without the risks of larger banks, says Jennifer Post at Thompson Coburn.

  • Law Firm Professional Development Steps To Thrive In AI Era

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    As generative artificial intelligence tools rapidly evolve, professional development leaders are instrumental in preparing law firms for the paradigm shifts ahead, and should consider three strategies to help empower legal talent with the skills required to succeed in an increasingly complex technological landscape, say Steve Gluckman and Anusia Gillespie at SkillBurst Interactive.

  • Merger Proposals Reflect Agency Leaders' Antitrust Principles

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    Attorneys at Covington trace the recently proposed Hart-Scott-Rodino and merger guidelines changes to certain foundational concerns of the Federal Trade Commission and U.S. Department of Justice Antitrust Division leadership, including issues related to concentration associated with horizontal and vertical mergers.

  • The Basics Of Being A Knowledge Management Attorney

    Excerpt from Practical Guidance
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    Michael Lehet at Ogletree Deakins discusses the role of knowledge management attorneys at law firms, the common tasks they perform and practical tips for lawyers who may be considering becoming one.

  • What Big Tobacco's Cannabis Investments Mean For Market

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    The tobacco industry appears to be shoring up investments in the cannabis market, most recently with Philip Morris’ purchase of an Israeli cannabis tech company, pointing to a bright future for vaped and noncombustible products, and signaling that marijuana rescheduling may be on the horizon, say Slates Veazey and Whitt Steineker at Bradley Arant.

  • To Hire And Keep Top Talent, Think Beyond Compensation

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    Firms seeking to appeal to sophisticated clients and top-level partners should promote mentorship, ensure that attorneys from diverse backgrounds feel valued, and clarify policies about at-home work, says Patrick Moya at Quaero Group.

  • How Merger Review Overhaul Could Affect Health Industry

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    For those in the health care industry considering growth and expansion strategies, the antitrust agencies' recent proposals for new Hart-Scott-Rodino rules and more complex merger guidelines will increase deal timelines, the merging parties' burden, and overall uncertainty and potential antitrust risk as to the outcome, say attorneys at Husch Blackwell.

  • Perspectives

    More States Should Join Effort To Close Legal Services Gap

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    Colorado is the most recent state to allow other types of legal providers, not just attorneys, to offer specific services in certain circumstances — and more states should rethink the century-old assumptions that shape our current regulatory rules, say Natalie Anne Knowlton and Janet Drobinske at the University of Denver.

  • 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.

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