Mergers & Acquisitions

  • January 23, 2017

    Ex-JPMorgan Analyst Testifies Colleague Admitted Tipping

    A former J.P. Morgan analyst was called to the witness stand Monday in a federal trial accusing another ex-analyst of insider trading, testifying the colleague divulged that he “accidentally slipped once or twice” in telling a friend about a pending acquisition.

  • January 23, 2017

    Aetna's ACA Vendetta Gets Called Out In Merger Ruling

    Aetna didn’t just see its $37 billion merger with Humana blocked on Monday — a D.C. federal judge also accused the insurance giant of abandoning Affordable Care Act marketplaces to wound the Obama administration and evade antitrust scrutiny.

  • January 23, 2017

    Saul Ewing Seeks $11.4M For 2 Years Of Work On ADI Case

    Saul Ewing LLP has filed a fee and expense application seeking Delaware court approval of $11.4 million in fees and $300,000 in expenses for the firm’s work on the Chapter 11 plan of food distributor Associated Wholesalers Inc.

  • January 23, 2017

    FCC Told To Help Tribal Lands In CenturyLink-Level 3 Deal

    The Federal Communications Commission should address a lack of affordable broadband access on tribal lands as part of considering CenturyLink Inc. and Level 3 Communications Inc.'s $34 billion tie-up, which would likely result in less investment, the National Congress of American Indians said Monday.

  • January 23, 2017

    Attys React To $37B Aetna-Humana Merger Ruling

    The U.S. District Court for the District of Columbia blocked the proposed $37 billion merger between health insurance giants Aetna Inc. and Humana Inc., siding with the U.S. Justice Department in its antitrust suit. Here, attorneys tell Law360 why the decision is significant.

  • January 23, 2017

    TerraForm Yieldcos Enter Exclusivity Deals With Brookfield

    TerraForm Power Inc. and TerraForm Global Inc., yieldcos controlled by bankrupt solar company SunEdison Inc., on Monday revealed exclusivity agreements with Canadian alternative asset manager Brookfield Asset Management Inc.

  • January 23, 2017

    Appeal Of Aetna-Humana Merger Loss Would Face Long Odds

    Aetna Inc. and Humana Inc. are mulling an appeal of a D.C. federal judge's Monday order preliminarily enjoining their $37 billion merger, but experts said the judge's airtight opinion leaves little room to pursue such a bid and the Trump administration may not want to interfere.

  • January 23, 2017

    Del. Top Court Reverses Toss Of $11B Regency Merger Suit

    Ruling that some requirements for fairness are obvious even if unstated, Delaware’s Supreme Court on Friday reversed a Chancery Court’s dismissal of two key objections to an $11.2 billion merger of Regency Energy Partners LP with Energy Transfer Partners LP.

  • January 23, 2017

    Punitive Awards Test DuPont's Plan To Shed Cancer Liabilities

    When DuPont spun off its Chemours business more than a year ago, it did so in part to shed potential cancer liabilities caused by decades' worth of Teflon manufacturing waste. But as the legal bill grows, experts believe that the punitive damages awarded in recent trials present grounds for the spinoff to fight back.

  • January 23, 2017

    UK Antitrust Regulators Mulling Review Threshold Changes

    Competition regulators in the U.K. said Monday they are now taking comments on proposed changes to the merger review process, ones that would reduce the number of smaller market deals that are investigated for antitrust concerns.

  • January 23, 2017

    Silgan To Pay $1B For WestRock’s Dispensing Systems Biz

    Packaging supplier Silgan Holdings Inc. announced Monday it has entered into an agreement to acquire corrugated packaging maker WestRock Co.’s dispensing systems business for $1 billion.

  • January 23, 2017

    Deals Rumor Mill: Blackstone, Jose Cuervo, Cynosure

    Blackstone is raising a $5 billion fund that will target real estate investments across Asia, Mexican tequila maker Jose Cuervo is finally set to price its previously postponed IPO, and laser-based fat removal technology maker Cynosure could sell for around $1 billion.

  • January 23, 2017

    Sprint Buys 33% Stake In Jay Z's Tidal

    Sprint and rapper Jay Z’s Tidal have entered into a partnership that will see the telecom giant acquire a 33 percent stake in the music streaming service and give Sprint’s 45 million retail customers access to its content, the companies said Monday.

  • January 23, 2017

    Brookfield Offers $358M For Rest Of Canadian REIT

    Brookfield Property Partners LP said Monday that it has made a proposal to buy the remaining interest in real estate investment trust Brookfield Canada Office Properties that it doesn't already own for CA$475.6 million ($358.3 million).

  • January 23, 2017

    Performance Sports To Sell Soccer Uniform Line For $1.6M

    Performance Sports Group Ltd. told the Delaware bankruptcy court on Friday that it plans to sell its struggling soccer uniform business line to one of its original owners for nearly $1.6 million, which the sports equipment maker believes will be better than what a liquidation would have yielded. 

  • January 23, 2017

    AMC Ups European Presence With $929M Nordic Cinema Buy

    AMC Theaters has agreed to buy private equity-backed Nordic Cinema Group Holding AB in a deal worth 8.25 billion Swedish krona ($929 million), the companies said Monday, adding to AMC’s portfolio one of the largest theater operators in Europe.

  • January 23, 2017

    2016 Nixed Deals Hit Highest Level Since Financial Crisis

    Withdrawn deal value climbed to $840 billion in 2016, the highest annual level since the financial crisis and the third-highest amount on record, as buyers and sellers struggled with heightened oversight on antitrust, tax and foreign investment.

  • January 23, 2017

    Pinnacle Financial To Merge With BNC Bancorp In $1.9B Deal

    Pinnacle Financial Partners Inc., the parent company of Pinnacle Bank, said Sunday that it has agreed to merge with BNC Bancorp in a $1.9 billion all-stock deal that is being steered by Bass Berry & Sims PLC, Wachtell Lipton Rosen & Katz and Troutman Sanders LLP.

  • January 23, 2017

    DOJ Wins Bid To Block $37B Aetna-Humana Merger

    A District of Columbia federal judge on Monday sided with the U.S. Department of Justice in the government's suit to block the proposed $37 billion merger between health insurance giants Aetna Inc. and Humana Inc.

  • January 23, 2017

    Insider Trading Defendant Busted After Skipping Trial

    A former investment analyst accused of using his mother's brokerage account to profit from inside knowledge of a $15 billion merger was taken into custody Monday after a Manhattan federal judge ordered his arrest for failing to appear at day one of his criminal trial.

Expert Analysis

  • 10 Antitrust Trends And Developments To Watch This Year

    Howard Morse

    President Donald Trump’s competition policies are sure to top the headlines in 2017. We can expect renewed focus on the SMARTER Act, continued attention to the pharmaceutical industry, and hurdles for foreign investment in the U.S., say attorneys with Cooley LLP.

  • Solera Further Clarifies Landmark Corwin Decision

    Gail Weinstein

    Delaware Chancellor Andre Bouchard’s recent decision in Solera follows an increasingly familiar template in merger litigation based on the landmark 2015 Corwin decision and furthers a trend that leans strongly toward application of business judgment review and early dismissal of post-closing complaints, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Another Jurisdiction, Another Disclosure Settlement?

    Sean J. Griffith

    A year after the Delaware Chancery Court announced in Trulia that the paragon of nuisance settlements — the “disclosure only” settlement — would no longer be welcome, deal litigation is still common and, increasingly, it is avoiding Delaware. This is because of the failure of the forum-selection solution advertised in Trulia, says professor Sean Griffith of Fordham University School of Law.

  • How Litigation Funding Is Bringing Champerty Back To Life

    John H. Beisner

    While some courts have declined to apply the common-law doctrine of champerty to invalidate third-party litigation funding agreements, two recent rulings by appellate courts in New York and Pennsylvania have brought renewed attention to champerty principles, casting doubts on the legality of certain forms of third-party litigation funding, say John Beisner and Jordan Schwartz of Skadden Arps Slate Meagher & Flom LLP.

  • Attracting And Retaining The Millennial Lawyer

    Christopher Imperiale

    Instead of trying to change the new workforce to follow a law firm's existing processes and procedures, perhaps it's time for firms to start changing their processes and procedures to better accommodate the mentality of this next generation of lawyers, says Christopher Imperiale, a law firm adviser with Berdon LLP.

  • You May Need To Rethink Your Approach To Patents In Deals

    Rich Christiansen

    While the U.S. Supreme Court's Alice decision caused tumult and despair in the patent community, many transactions involving patent assets continued as if the decision had never occurred. But black swan events like Alice provide new impetus for re-evaluation of current transaction practice, says Rich Christiansen of Kilpatrick Townsend & Stockton LLP.

  • A Snapshot Of M&A Activity In 2016

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    2016 was a strong year for M&A activity with a global deal volume of $3.71 trillion. But year-end results did not surpass the records set in 2015 as we saw fewer megadeals and a decline in global cross-border deal volume. In this short video, Ariel Deckelbaum of Paul Weiss Rifkind Wharton & Garrison LLP looks at the top U.S. target industries and other trends in last year’s deals.

  • 2017 Food And Beverage Industry Outlook: Part 2

    R. Trent Taylor

    The food and beverage industry is expected to see regulatory and legislative changes on multiple fronts in 2017. But industry observers also anticipate an active year in U.S. courts and in the boardrooms of domestic and international food and beverage companies, say attorneys at McGuireWoods LLP.

  • Asset Swap Transactions In The Antitrust Crosshairs

    Meytal McCoy

    While companies may think they are in the antitrust clear with asset swap transactions, two recent divestiture orders make clear that regulators will apply the same rigorous antitrust analysis in such deals as they would in a traditional merger or acquisition, says Meytal McCoy of Mayer Brown LLP.

  • 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.