Mergers & Acquisitions

  • January 18, 2017

    FTC Fines Investors For Missing Premerger Notifications

    The Federal Trade Commission has resolved two separate allegations of violations of the Hart-Scott-Rodino Act, levying civil penalties totaling $900,000 on a hedge fund manager and an entrepreneur for failing to report substantial share purchases, the agency announced on Tuesday.

  • January 18, 2017

    Level 3 Shareholders Sue To Stop $34B CenturyLink Deal

    A proposed class of Level 3 Communications Inc. shareholders took issue with the company’s behavior in the lead-up to and after its announced $34 billion sale to CenturyLink Inc., filing suit Tuesday in Colorado federal court over the company’s alleged failure to perform adequate due diligence.

  • January 18, 2017

    Smith Gambrell Bolsters NY Corporate Practice With 3 New Attys

    Smith Gambrell & Russell LLP has strengthened its New York corporate practice with the addition of three new attorneys with an established Italian practice, a move that comes after the firm's recent European expansion.

  • January 18, 2017

    Eli Lilly Pays $960M For Migraine Treatment Developer

    Pharmaceutical giant Eli Lilly and Co. has agreed to buy migraine treatment developer CoLucid Pharmaceuticals Inc. for roughly $960 million, the companies said Wednesday, in a deal guided by legal advisers Weil Gotshal & Manges LLP and Faegre Baker Daniels.

  • January 18, 2017

    O'Melveny Nabs DLA Piper Sports & Entertainment Pro

    A nationally known sports and entertainment partner from DLA Piper with extensive mergers and acquisitions and private equity experience has left that law firm to join O'Melveny & Myers LLP’s New York office, where he will chair the firm’s sports industry group.

  • January 18, 2017

    Cravath Steers Cable One’s $735M NewWave Buy

    U.S. cable provider Cable One Inc., led by Cravath, revealed plans Wednesday to snap up private equity-backed NewWave Communications for $735 million in cash, a deal that stands to expand its non-urban footprint.

  • January 17, 2017

    Allergan Pays $15M For Failing To Disclose Merger Talks

    Allergan has agreed to pay a $15 million fine and admit wrongdoing for failing to disclose it was negotiating a potential acquisition and white knight offer with Actavis in efforts to escape a hostile takeover from Valeant and Pershing Square, the U.S. Securities and Exchange Commission said Tuesday.

  • January 17, 2017

    Major Merger Probes Hit Record Delays In 2016, Report Finds

    Significant merger investigations by the Department of Justice and Federal Trade Commission in 2016 lasted nearly 10 months, on average, longer than any time in the past six years, according to law firm Dechert LLP.

  • January 17, 2017

    Energy Transfer Investor Seeks To Stop $21B Sunoco Merger

    A unitholder of Energy Transfer Partners LP filed a lawsuit late Friday in Delaware federal court seeking to put a stop to a proposed $21.3 billion stock-for-stock merger with Sunoco Logistics Partners LP, saying that filings related to the deal omit information needed to properly assess the transaction.

  • January 17, 2017

    Linkwell Investor Says Sidley Can't Dodge 'Covert' Merger Row

    A Linkwell Corp. investor accusing certain subsidiaries and Sidley Austin LLP of securities misconduct asked a Florida federal court on Friday to deny an attempt by Sidley to dismiss the allegations against it, saying the firm designed and implemented the “covert” go-private merger.

  • January 17, 2017

    Deals Rumor Mill: Vitanas, Tata Group, Abraaj Group

    German nursing home operator Vitanas could sell for up to €550 million; India's Tata Group intends to increase the stakes it owns in a number of its own listed companies, including an automaker; and emerging economy-focused private equity shop Abraaj Group is interested in buying a stake in Barclays' South African business.

  • January 17, 2017

    Hercules Offshore Raises $24M For Creditors With Fleet Sale

    Hercules Offshore Inc., which had its Chapter 11 plan confirmed in November, told the Delaware bankruptcy court on Tuesday that Enterprise Offshore Drilling LLC won an auction to purchase the offshore producer's Gulf of Mexico drilling rig fleet for nearly $24 million.

  • January 17, 2017

    Elliott, Bluescape Mull NRG Energy Proxy Fight

    Elliott Management and Bluescape Energy revealed Tuesday that they together hold a 9.4 percent stake in NRG Energy and are considering nominating directors, marking the first time a hedge fund and a private equity firm joined forces on an activist campaign.

  • January 17, 2017

    Trump Adviser Sells Firm, Talks Russia-US Biz At Summit

    SkyBridge Capital has been sold, and founder Anthony Scaramucci, an adviser to President-elect Donald Trump who recently met with the head of Russia’s sovereign wealth fund to discuss potential future business relations, has severed all ties with the New York private investment firm.

  • January 17, 2017

    IRS Finalizes Anti-Inversion Rule, With Some Tweaks

    The Internal Revenue Service has finalized rules meant to make it harder for U.S. businesses to lessen their tax burden by merging with foreign companies, although the agency tweaked the requirements to meet certain exceptions to the regulations.

  • January 17, 2017

    Exxon, Noble Energy Splash Cash For Permian Basin Acreage

    Exxon Mobil Corp. said Tuesday it will pay up to $6.6 billion for Bass-family companies that own drilling properties in the oil-rich Permian Basin, one day after Noble Energy Inc. expanded its Permian holdings by acquiring Clayton Williams Energy Inc. in a $2.7 billion deal.

  • January 17, 2017

    Dechert’s New Hong Kong Team Seals 5 Deals In First 2 Weeks

    The newest deal team to join Dechert LLP’s Hong Kong office clocked a busy first two weeks, with the team of former Cadwalader Wickersham & Taft LLP attorneys sealing five separate transactions.

  • January 17, 2017

    British American Tobacco Wins Over Reynolds With $49B Deal

    British American Tobacco plc won over U.S. tobacco company Reynolds American Inc. with a $49 billion takeover offer, paving the way to unite cigarette brands Newport, Kent and Pall Mall and create a top contender in the global tobacco market.

  • January 16, 2017

    Essilor, Luxottica Ink Deal To Form $49B Eyewear Giant

    France-based Essilor will merge with Italy’s Luxottica, the owner of Ray-Ban and Oakley, in an all-stock deal that stands to create a $49 billion eyewear giant with strengths in both production and distribution, according to a Monday announcement.

  • January 13, 2017

    Gardere Welcomes 5 Attys In Texas, Colo. Offices

    Gardere Wynne Sewell LLP added partners to its corporate and bankruptcy practice groups in Dallas, along with a senior counsel with expertise in advising startups, a senior attorney focusing on restructuring and a supply network associate, the firm announced Thursday.

Expert Analysis

  • It’s Time To Change The Law Firm Business Model

    Lucia Chiocchio

    Every year, statistics reveal very little change in the number of women and minorities in the ranks of partnership. So how do law firms change this painfully slow rate of progress? It takes more than adding a diversity policy or a women’s leadership program to the current law firm business model, says Lucia Chiocchio, co-chair of Cuddy & Feder LLP's telecommunications and land use, zoning & development groups.

  • The Outlook For Chinese Outbound M&A

    Excerpt from Lexis Practice Advisor
    Neeraj Budhwani

    Chinese companies are looking to acquire U.S. and European companies in order to bring technology, know-how and brands back to China. At the same time, there will likely be continued pushback from the U.S. government and other jurisdictions over security concerns, says Neeraj Budhwani of Clifford Chance LLP.

  • Amended Rule 37(e): 1 Year Later

    Samantha Southall

    After a full year in effect, the amended Federal Rule of Civil Procedure 37(e) has been tested in a variety of district courts. A sampling of these decisions reveals that courts seem to be adhering closely to the amended rule and ordering adverse inference instructions only where there was intent to deprive another party of access to relevant information, say Carrie Amezcua and Samantha Southall of Buchanan Ingersoll & Rooney PC.

  • Avoiding The Hidden Costs Of Bargain-Priced E-Discovery

    Michael Cousino

    Many organizations are interested in finding electronic discovery partners who offer tantalizingly low prices for electronic discovery services. However, unforeseen gaps, lax security practices, ignorance of global practices and delayed deliverables can all add up to a surprisingly large final cost, says Michael Cousino of Epiq Systems.

  • Why Anti-Corruption Due Diligence Is Important In M&A

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    When acquiring and investing in companies, it is critical to evaluate and mitigate the risk of both previous and future violations of the Foreign Corrupt Practices Act. Mark Mendelsohn and Peter Jaffe of Paul Weiss Rifkind Wharton & Garrison LLP discuss unique challenges for investors and essential considerations for mergers and acquisitions.

  • The Outlook For Hart-Scott-Rodino Under President Trump

    Jack Sidorov

    With the arrival of the Trump administration and the domestic and foreign policy shifts that may ensue, few eyes have looked at what changes may lie ahead with regard to Hart-Scott-Rodino antitrust premerger notification law and policy. Yet there are two reasons to believe that significant changes may be in store, says Jack Sidorov of Lowenstein Sandler LLP.

  • The Serious And Immense Impact Of A Medical Device Hack

    Charles J. Andres

    A host of different government agencies enforce laws that impose obligations for companies that manufacture and sell medical devices to the public. Attorneys at Wilson Sonsini Goodrich & Rosati PC explore the many different ramifications of a medical device hack and provide some suggestions on planning for and responding to such a breach.

  • Saving Lawyers 1 Breath At A Time: Mindfulness In The Law

    Jennifer Gibbs

    As critical as lawyers are to society, they are reported to be the most frequently depressed occupational group in the United States. In response to the inherently stressful nature of the practice of law, more and more lawyers are turning to an ancient contemplative practice called “mindfulness,” says Jennifer Gibbs of Zelle LLP.

  • Understanding How Blockchain Could Impact Legal Industry

    R. Douglas Vaughn

    Blockchain is essentially a computerized public ledger that can apply to almost anything that a person might save into a database or spreadsheet. This versatile technology may enhance the legal industry by providing an improved record keeping system, setting up "smart contracts" and tracking intellectual property and land records, say R. Douglas Vaughn and Anna Outzen of Deutsch Kerrigan LLP.

  • Trends In Public-Target Mergers: Takeaways From ABA Study

    Excerpt from Lexis Practice Advisor
    Claudia K. Simon

    The American Bar Association recently released its annual study on commonly negotiated deal points in acquisitions of U.S. public companies. In this article, Schulte Roth & Zabel LLP partner Claudia Simon, who chaired the ABA study, highlights some of the findings, including trends related to breakup fee triggers, tender offers and mixed-consideration deals.