Mergers & Acquisitions

  • May 27, 2022

    Altaba Says Canada Rulings Back Cutting $800M Suit Reserve

    Attorneys for Yahoo's former parent told a Delaware vice chancellor on Friday that recent events in two Canadian courts support drastically reducing an $800 million holdback for future court settlements with Canadian subscriber victims of privacy breaches between 2013 and 2016.

  • May 27, 2022

    DOJ Pressure Caves $360M Deal For Wall Panel Maker

    Crane Co. has abandoned a plan to unload its engineered materials business in a $360 million deal with construction supply manufacturer Grupo Verzatec ahead of a broader restructuring about two months after the U.S. Department of Justice sued to block the transaction.

  • May 27, 2022

    Health Co.'s $2B Take-Private Deal Challenged By Investors

    Health improvement company Tivity Health Inc. has been hit with a pair of investor suits seeking to block its $2 billion planned acquisition by private equity firm Stone Point Capital, with the investors saying Tivity omitted material information about the company's financial projections.

  • May 27, 2022

    McGuireWoods Adds Ex-Benesch Deals Pro In Chicago

    McGuireWoods LLP has picked up a corporate deals attorney well versed in advising on transactions across industries to its ranks, strengthening the firm's global private equity team in Chicago.

  • May 27, 2022

    SEC Probing Musk's Disclosure Of Twitter Stock Purchases

    The U.S. Securities and Exchange Commission is probing Elon Musk's tardy disclosure regarding his acquisition of Twitter Inc. shares that had set the stage for his eventual proposal to buy the company, according to a letter recently made public.

  • May 27, 2022

    Trump's Social Media SPAC Unveils Investors In $1B Funding

    The special purpose acquisition company acquiring former President Donald Trump's social media platform disclosed to regulators on Friday which firms raised $1 billion in additional funding for the deal.

  • May 27, 2022

    Recruiter's Suit Against Robinson & Cole Moved To Conn.

    A South Dakota federal judge has agreed to move a legal recruiter's breach of contract suit against Robinson & Cole LLP to the firm's home state of Connecticut, saying there was no evidence that the firm knew the recruiter was based in South Dakota during the discussions around prospective firm mergers that eventually gave rise to the suit.

  • May 27, 2022

    Ex-Hogan Lovells Transactions Atty Joins Reed Smith

    Reed Smith LLP has added a career Hogan Lovells attorney, who worked as a partner in the firm's transactional practice, and he will join Reed Smith's practice in Miami, the firm announced Wednesday.

  • May 27, 2022

    Don't Miss It: Cleary, Debevoise Guide Week's Hot Deals

    With so much mergers and acquisitions news this week, you may have missed several deals announced in the last several days helmed by firms such as Cleary Gottlieb Steen & Hamilton LLP and Debevoise & Plimpton LLP. Here, Law360 recaps the ones you may have missed.

  • May 27, 2022

    Pareteum Says It Faces Six-Week Deadline For Ch. 11 Sale

    A New York bankruptcy judge struck a compromise Friday, delaying for the weekend a decision on sale plans for telecom software maker Pareteum Corp., as creditors questioned the short sale timeline but the debtor argued it only has six weeks before it loses its officers.

  • May 27, 2022

    McDermott Adds NY, Atlanta Transactions Group Attorneys

    Three partners have joined McDermott Will & Emery LLP's transactions group in both Atlanta and New York and will assist the firm in fund formation, global mergers and acquisitions and other corporate governance work, the firm recently announced.

  • May 26, 2022

    Musk, Twitter Hit With Investor Suit Over Buyout Balk

    Elon Musk and Twitter Inc. have been hit with a proposed shareholder class action alleging that the billionaire tried to create doubt about his planned deal to buy the social media company in order to do so at a lower price, causing Twitter's valuation to drop by $8 billion.

  • May 26, 2022

    No Toss For Del. Suit Targeting $11.6B Sanofi-Bioverativ Deal

    Delaware's Chancery Court sent toward trial Thursday two counts of a class suit alleging costly disclosure failures and Tammany Hall-flavored scheming by directors and officers of biotech venture Bioverativ Inc. to secure huge personal profits off its $11.6 billion sale to Sanofi in 2018.

  • May 26, 2022

    Alston & Bird Adds Bankruptcy Partners From Gibson Dunn

    Alston & Bird LLP announced recently that two experienced bankruptcy attorneys have joined the firm's New York office as partners to bolster its financial restructuring and reorganization group.

  • May 26, 2022

    Canada Antitrust Chief Touts 'Significant' Law Proposals

    The head of Canada's Competition Bureau welcomed a series of proposed overhauls to the country's antitrust laws Thursday as an important first step amid ongoing considerations of enforcement's role in combating inflation and adapting to digital technology.

  • May 26, 2022

    Sports-Focused SPAC Leads 2 IPO Filings Totaling $350M

    A sports and entertainment focused blank-check firm, whose board of directors includes former NBA star Magic Johnson and a former Disney executive, was among two special-purpose acquisition companies to file initial public offerings Thursday for a combined $350 million.

  • May 26, 2022

    Deals Rumor Mill: Saudi Aramco, Toshiba, Oyo

    Saudi Aramco is considering buying a Valvoline unit, Japan Investment Corp. is considering the acquisition of Toshiba Corp., and Indian startup Oyo Hotels has shelved IPO plans amid the market's downturn. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

  • May 26, 2022

    Icahn Loses Proxy Fight With McDonald's Over Animal Welfare

    Private equity magnate Carl Icahn lost his fight against McDonald's in seeking to improve the treatment of pigs in the fast-food giant's supply chain, with the company announcing Thursday that just 1% of shareholders voted to support the two director nominees that the billionaire activist investor had put forward as part of his efforts.

  • May 26, 2022

    TransCanada Attys Accused Of 'Flouting' Procedure In Del.

    Months after getting a judicial smackdown when an attorney was told to pay the Delaware Chancery Court an hour's pay for not following proper procedure, counsel for TransCanada has been accused by Columbia Pipeline Group investor class attorneys of again "transparently flouting Delaware procedure" with a recent filing.

  • May 26, 2022

    FCC Seeks Public Input On Telecom Merger Compliance

    The Federal Communications Commission has opened a trio of public dockets to track how well Verizon is meeting its commitments after merging with TracFone and for two other high-profile deals involving T-Mobile and Dish.

  • May 26, 2022

    Title Co. Investor Gets $10.9M For Failed Merger

    As Entitle Direct Group's largest shareholder, Partner Reinsurance Co. is entitled to $10.9 million in damages from RPM Mortgage Inc. over a failed merger between the mortgage company and Entitle, with a New York federal judge finding that RPM breached its contract by refusing to close the deal.

  • May 26, 2022

    Skadden, Orrick Rep $3.8B Car Tech Go-Public Deal

    Car technology company ECARX Holdings Inc., guided by Skadden Arps Slate Meagher & Flom LLP, said Thursday it's going public by combining with Orrick Herrington & Sutcliffe LLP-led blank-check company COVA Acquisition Corp. in a $3.82 billion deal.

  • May 26, 2022

    5 Firms Build Broadcom's $61B Deal For VMware

    Semiconductor chipmaker Broadcom Inc. said Thursday it plans to buy cloud services provider VMware Inc. for $61 billion in a deal shaped by five law firms, as the technology giant continues to snap up software businesses in a string of hefty acquisitions.

  • May 25, 2022

    Aerojet Trial Closes In Delaware With Flurry Of Conflict Claims

    Tales of backstabbing, disabling conflicts and handbags costing six figures closed out a three-day trial in Delaware on Wednesday about director disputes that have fractured the board of Aerojet Rocketdyne Holdings Inc., with a vice chancellor now pushing to rule on multiple counts before a June 30 stockholder meeting.

  • May 25, 2022

    Elon Musk Plans $6.25B More In Equity For $44B Twitter Deal

    Elon Musk on Wednesday promised an additional $6.25 billion in equity financing to acquire Twitter Inc., according to a U.S. Securities and Exchange Commission disclosure, a move that comes just a week after the Tesla Inc. CEO threatened to abandon the deal if the social media giant couldn't prove that "bots" represent less than 5% of Twitter users.

Expert Analysis

  • Opinion

    ABA Isn't Giving Up On Diversity Efforts By Ending CLE Rule

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    While some view the American Bar Association’s elimination of continuing legal education diversity requirements as capitulating to a Florida Supreme Court decision against the mandate, it was a strategic decision to serve Florida members while improving diversity, equity and inclusion efforts in other ways, says Tiffani Lee at Holland & Knight.

  • Lateral Candidate Screening Steps To Prevent Bad Behavior

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    Bullying and harassment are among the root causes of stress, anxiety and substance abuse in the legal profession, so law firms should take four actions to effectively screen lateral candidates and ensure they are not recruiting individuals who could jeopardize the well-being of their people, says Michael Ellenhorn at Decipher.

  • How Russia Sanctions Are Affecting Compliance

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    The wide-ranging sanctions and export controls that the U.S. and its partners have imposed on Russia in recent months pose complex compliance challenges for commercial operations, investments and financial transactions, even when there is not a direct or obvious nexus with Russia, say Anthony Rapa and Matthew Thomas at Blank Rome.

  • HSR Statistics Show Increasing Scrutiny Of Health Care M&A

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    Recent enforcement and Hart-Scott-Rodino statistics illustrate the Federal Trade Commission's growing interest in the application of federal antitrust law to health care transactions and the FTC's ability to test novel theories of harm in this area, say Amanda Wait and Vic Domen at Norton Rose.

  • A Look At The Legal Profession Since Murder Of George Floyd

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    Little has changed for Black attorneys since law firms promised to combat discrimination within the profession following George Floyd's murder, but on this second anniversary of his death, law firms can recommit by adopting specific strategies that set their Black lawyers up for success, say Lisa Davis and Khasim Lockhart at Frankfurt Kurnit.

  • Opinion

    NY Ruling Correctly Deems Legal Finance Docs Irrelevant

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    A New York appeals court's recent decision in Worldview Entertainment v. Woodrow joins a growing trend of decisions denying discovery of litigation funding documents, highlighting that commercial legal finance should be treated just like any other financing in commercial litigation, says Andrew Cohen at Burford Capital.

  • Overcommunicate With Your Summer Associates This Year

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    2022 summer associates have had limited opportunities for professional interactions due to the pandemic, so supervising attorneys should prioritize intentional overcommunication by emphasizing importance of tone and content of emails, sharing feedback immediately, and more, says Julie Schrager at Faegre Drinker.

  • Lessons For Gov't Contractors Amid Increased Antitrust Risk

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    A review of recently ramped-up Procurement Collusion Strike Force enforcement yields important lessons for government procurement companies, which are particularly susceptible to anti-competitive risks, on corporate antitrust awareness and robust compliance, say Rachel Guy and James McGinnis at Sheppard Mullin.

  • Nev. Case Highlights Settlement Authority Dilemmas For Cos.

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    A Nevada federal court's recent decision in Ceja v. The Vons Companies illustrates the pitfalls of misinterpreting a court order requiring a representative with full settlement authority to be present at negotiations, and is a reminder to consider that courts differ as to what full settlement authority means in practice, says Richard Mason at MasonADR.

  • Financial Stability Considerations For Bank Merger Analysis

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    As financial regulators set out to update the framework for assessing financial stability when evaluating bank mergers, a look at case-by-case precedent suggests that the agencies should consider three crucial factors when reviewing future cases, say executives at the Bank Policy Institute.

  • The Fastest Federal Trial Courts: A Look At Virginia, Florida

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    The Eastern District of Virginia rocket docket and the Northern District of Florida were last year’s fastest civil trial courts in the nation, and interviews with two of their judges reveal they have some of the same practices to keep litigation moving efficiently, says Robert Tata at Hunton.

  • Considerations For A Rarely Used Exit Provision In JV Deals

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    Relatively few joint venture legal agreements contain buy-sell provisions, but it's worth thinking through the subtle implications of structuring such exit terms to determine whether to include them, say consultants at Ankura.

  • Tips For Evaluating Machine Learning For Contracts Review

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    Law firms considering machine learning and natural language processing to aid in contract reviews should keep several best practices in mind when procuring and deploying this nascent technology, starting with identifying their organization's needs and key requirements, says Ned Gannon at eBrevia.

  • Inflation-Era M&A Escrows And Earnouts Can Use A 2nd Look

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    The current high inflationary pressures could have material impacts on indemnification escrows and earnouts, despite their limited duration, and buyers should consider what those effects could mean for post-closing amounts in M&A transactions, say Jim Birge and Jerome Borden at Faegre Drinker.

  • What SEC Proposal On SPACs Means For Projection Defenses

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    Following the U.S. Securities and Exchange Commission’s recent proposal to enhance special-purpose acquisition company disclosures, SPAC participants should consider the implications for two key forward-looking statement defenses, say Scott Mascianica and Landon Mignardi at Holland & Knight.

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