Mergers & Acquisitions

  • April 23, 2017

    Skadden, Wachtell Guide $24B Medical Supply Co. Deal

    Becton Dickinson and Co. has agreed to pay $24 billion to acquire fellow medical supply company C.R. Bard Inc., the companies said on Sunday, in a deal guided by Skadden Arps Slate Meagher & Flom LLP and Wachtell Lipton Rosen & Katz.

  • April 21, 2017

    Taxation With Representation: Skadden, Cravath, Simpson

    In this week’s Taxation With Representation, Skadden guides a $6.1 billion deal in the health industry, Cravath heads two transactions each worth $600 million or more, and Simpson Thacher helps PetSmart purchase online pet food retailer Chewy.

  • April 21, 2017

    Don't Miss It: Hot Deals & Firms We Followed This Week

    With so much mergers and acquisitions news this week, you may have missed several deals announced in recent days helmed by firms such as Debevoise & Plimpton LLP and O'Melveny & Myers LLP. Here, Law360 recaps the transactions you might have missed.

  • April 21, 2017

    Korean Co. Loses Bid For Arbitration In Resort Sale Dispute

    A Korean hotel company must answer allegations of fraud and breach of fiduciary duty from a minority shareholder in a Northern Mariana Islands golf resort owned by the company in commonwealth court, a federal judge ruled Thursday, rejecting the company’s move to compel arbitration.

  • April 21, 2017

    Jones Day Adds Ex-Bracewell Capital Markets Atty In Houston

    Jones Day has hired a former Bracewell LLP partner and capital markets attorney for its Houston office, an addition that the global law firm said will bolster its practice.

  • April 21, 2017

    DOJ Says Deere, Monsanto Can’t Access Expert’s Notes

    The U.S. Department of Justice on Thursday asked an Illinois federal judge to deny Deere & Co. and Monsanto Co.’s request to obtain interview notes from the agency’s expert in a lawsuit seeking to block Deere's acquisition of Monsanto's Precision Planting LLC, calling the attempt “unwarranted.”

  • April 21, 2017

    Japan Dominates Asia-Pacific Outbound M&A For Q1

    Japan’s continued hunt for growth pushed it to the top of the Asia-Pacific region for outbound deal value during the first quarter of 2017, knocking China from its top spot as Chinese buyers face their own regulatory and political challenges, experts say.

  • April 21, 2017

    SquareTwo Creditors Aim To Block Several 1st-Day Motions

    SquareTwo Financial Services Corp. may have some difficulty obtaining its $58.5 million Chapter 11 loan, among other first-day requests, after its unsecured creditors filed a multipronged objection Thursday, voicing concern that the consumer and commercial debt collector’s restructuring plan may contain "fatal infirmities."

  • April 21, 2017

    Deals Rumor Mill: General Electric, L'Oreal, M1

    A number of companies are battling to buy GE's $3 billion industrial solutions business, the list of suitors vying for L'Oreal's Body Shop business has been whittled down and the three largest investors in Singaporean wireless operator M1 are considering a sale of their combined 61 percent stake.

  • April 21, 2017

    Kansas Regulators Nix $12.2B Great Plains-Westar Merger

    Kansas utility regulators have rejected Great Plains Energy Inc.'s proposed $12.2 billion acquisition of Westar Energy Inc., saying that Great Plains is overpaying for the utility and taking on too much debt, costs that could ultimately be borne by ratepayers.

  • April 21, 2017

    PE Deals Set To Rise After Slow Q1 As Dry Powder Piles Up

    Lingering concerns about competition, pricing and geopolitical uncertainty contributed to a sluggish start to the year for private equity dealmaking, but the pace is expected to pick up as the year goes on and fund managers feel pressure to deploy the record $842 billion in dry powder they collectively hold.

  • April 20, 2017

    Anthem Seeks Injunction To Keep Cigna In $54B Merger

    Anthem Inc. moved ahead in Delaware’s Chancery Court late Wednesday with a motion for a preliminary injunction barring Cigna Corp. from an April 30 termination of their disputed merger agreement, part of a multiforum brawl over the $54 billion tie-up.

  • April 20, 2017

    Redstones Again Seek Chancery Toss Of Viacom Class Suit

    Viacom Inc.’s controlling interests blasted investors’ decision to push forward with a putative shareholder class action in Delaware Chancery Court on Wednesday, saying an earlier settlement had already resolved most of their requests, calling the remaining claims “overbroad, inappropriate and impossible to grant.”

  • April 20, 2017

    ER Operator Adeptus Files Ch. 11, Seeks PE Takeover

    Emergency room company Adeptus Health Inc. and 139 affiliates, mostly individual medical centers, filed for Chapter 11 bankruptcy in Texas on Wednesday with $454 million in debt and a plan to be taken over by private equity firm Deerfield Management Co.

  • April 20, 2017

    Nimble’s SEC Update Moots Suit, But Not Fees, Investor Says

    A Nimble Storage Inc. investor who sued the company for more details about its now-completed acquisition by Hewlett Packard Enterprise Co. dropped his suit on Wednesday, saying Nimble filed the information he sought with the U.S. Securities and Exchange Commission, but he'll continue to seek legal fees.

  • April 20, 2017

    Maxus Seeks OK On $15M Sale Of Gulf Oil Field Interests

    Bankrupt oil and gas exploration firm Maxus Energy Corp. asked a Delaware court late Wednesday to approve a sale of its partial interest in a Gulf of Mexico offshore oil field as part of its effort to liquidate its assets through Chapter 11 transactions.

  • April 20, 2017

    Macquarie, Others Drop $2.95B On UK Green Bank

    Macquarie Group Ltd. said Thursday it and other investors will buy UK Green Investment Bank PLC from the British government for £2.3 billion ($2.95 billion), despite concerns that a sale to the Australian financial services firm could result in the environmental investment bank having its assets stripped.

  • April 20, 2017

    Brocade, Broadcom Offer EU Antitrust Fixes For $5.9B Deal

    Broadcom Ltd. and networking solutions provider Brocade Communications Systems Inc. on Wednesday sent European Union competition regulators proposed fixes to assuage antitrust concerns over their $5.9 billion deal.

  • April 20, 2017

    Deals Rumor Mill: Toshiba, Atlantia, Bitauto Holdings

    Western Digital is considering a joint bid with Japanese investors for Toshiba's highly sought-after chip business, Italian infrastructure company Atlantia SpA hopes to raise up to €8 billion ($8.6 billion) to help finance a bid to take over Abertis Infraestructuras, and online car-financing platform Bitauto Holdings has raised about $1 billion from Tencent Holdings, Baidu and JD.com.

  • April 20, 2017

    Appraisal Actions May Be The Next Frontier For PE Shops

    Delaware’s Supreme Court will soon decide if lower courts properly determined that both Dell Inc.’s $24.9 billion management-led buyout and DFC Global Corp.’s $1.3 billion buyout were priced too low, potentially leading more companies to try appraisal litigation as an investment strategy.

Expert Analysis

  • Memorable Lessons From Violin Memory And Other Auctions

    Sheon Karol

    When Violin Memory filed Chapter 11 in December, prospects for the company seemed grim. But the combination of rival offer methods and special process features resulted in an auction that exceeded all expectations, says Sheon Karol of The DAK Group.

  • Rebuttal

    In Support Of Delaware’s Merger Litigation Jurisprudence

    Andy Stern

    In a recent Law360 guest article, two members of the plaintiffs bar contended that Delaware’s materiality standard for corporate disclosure has become more corporate-friendly in recent years. But a closer inspection reveals that Delaware law remains focused on providing a fair balance between individual stockholder rights and the avoidance of frivolous litigation, say attorneys with Sidley Austin LLP.

  • Monthly Column

    Gray Matters: The Attorney-Client Team

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    A 1979 study of attorney-client interactions revealed startling information: Despite years of education and training to hone their legal expertise, attorneys were not acting as independent counselors but rather allowing their clients to control them. Our experience is that this trend has accelerated, say dispute resolution experts Robert Creo and Selina Shultz.

  • Litigation Finance, Big Data And The Limits Of AI

    Christopher Bogart

    Theoretically, both better data and its better use should be able to improve results in litigation, and thus help litigation financiers allocate more capital to meritorious matters. However, while big data and artificial intelligence are intriguing additions to the litigation toolkit, they are far from turning litigation finance on its head, says Christopher Bogart, CEO of Burford Capital LLC.

  • Series

    Counsel To Counsel: Mama Said There'll Be Days Like This

    Peter J. Engstrom

    It's no longer enough for law firms simply to provide expert legal advice — we are expected to mirror clients' legal, ethics and social commitments and promises. For law firm GCs, the resulting job demands seem to grow exponentially, says Peter Engstrom, general counsel of Baker McKenzie.

  • Series

    Counsel To Counsel: A Law Firm GC's Data Protection Duties

    Thomas W. White

    Increasingly, we see companies in all industries seeking to perform various levels of due diligence on our information security defenses. We received three times as many diligence requests from clients and prospective clients in 2016 as we did in 2015. Some clients even conduct their own penetration tests, says Thomas White, general counsel of WilmerHale.

  • Series

    Counsel To Counsel: Evaluating Positional Conflicts

    Nicholas A. Gravante Jr.

    What happens when attorneys come to their general counsel’s office with knowledge of a potential positional conflict? While the inquiry will depend on the rules governing the particular jurisdiction, there are a few general questions to consider from both business and legal ethics perspectives, say general counsel Nicholas A. Gravante Jr. and deputy general counsel Ilana R. Miller of Boies Schiller Flexner LLP.

  • The 1st Case To Decline Corwin 'Cleansing'

    Gail Weinstein

    Saba Software Stockholder Litigation may be the first case in which the Delaware Chancery Court has declined to apply “cleansing” under Corwin, but the decision confirms the recent trend that Corwin cleansing of noncontroller stockholder-approved transactions is likely to be precluded only in unusual and egregious circumstances, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Series

    Counsel To Counsel: 5 Challenges For A Law Firm GC

    John Koski

    Regardless of where we live and practice, regardless of whether trade deals succeed or fail, and regardless of whether the movement of people or capital is easy or difficult, our clients will still have needs or problems far away from home, says John Koski, global chief legal officer at Dentons.

  • A Snapshot Of M&A Activity In March

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    Global M&A activity was up significantly in March after two months of straight declines. In the U.S., it was a very different story, observes Ariel Deckelbaum of Paul Weiss Rifkind Wharton & Garrison LLP.