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Mergers & Acquisitions
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April 02, 2025
QuantumScape, SPAC Brass Settle Merger Suit For $8.75M
QuantumScape Corp., its directors and officers and the special-purpose acquisition company that took the lithium-metal battery maker public agreed to an $8.75 million settlement resolving a stockholder derivative suit that alleged the SPAC's brass breached their fiduciary duties in connection with the go-public merger, a Wednesday stipulation states.
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April 02, 2025
Hooters Can Tap $5M Of Its $40M In Proposed Ch. 11 Loans
Bankrupt restaurant chain Hooters of America LLC can access $5 million in interim financing from a $40 million debtor-in-possession package from its prepetition lenders as it transitions to a franchise-only model, a Texas bankruptcy judge said Wednesday.
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April 02, 2025
Trump Media Refiles President's Shares For Potential Sale
Trump Media and Technology Group Corp. on Wednesday filed papers to reregister for sale some 114 million shares held by President Donald Trump worth more than $2 billion, though the company says there are no imminent plans to sell the shares.
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April 02, 2025
Serial Acquisitions Are Still On The FTC's Radar
The previous administration's focus on private equity firms making serial acquisitions in the same industry may continue under the Federal Trade Commission's new leadership, an agency official said Wednesday.
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April 02, 2025
Insurer Says $9M OpenText Merger Settlement Not Covered
An insurer said it is not obligated to contribute to a $9 million settlement in a shareholder class action stemming from Covisint's 2017 merger with software company OpenText, telling a Michigan federal court that the settlement does not constitute a covered loss.
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April 02, 2025
Siemens Buying Scientific Software Co. Dotmatics For $5.1B
Siemens AG said Wednesday it has agreed to acquire scientific software company Dotmatics from global software investor Insight Partners in a deal valued at $5.1 billion, with Latham & Watkins LLP advising Siemens and Willkie Farr & Gallagher LLP advising Dotmatics.
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April 02, 2025
NBA's Timberwolves To Be Sold, Ending Ownership Dispute
Minnesota Timberwolves owner Glen Taylor will end his fight to retain control of the NBA franchise and complete the sale to a pair of limited partners agreed-upon in 2021, according to numerous published reports.
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April 02, 2025
Endeavor-Silver Lake Deal Sparks Over $1B In Appraisal Suits
A growing number of investors in recently taken-private sports and entertainment giant Endeavor Group Holdings have sued in Delaware's Court of Chancery for a post-deal appraisal of more than $1 billion in stock based on the deal price as of Wednesday, challenging the $27.50 per share paid by private equity firm Silver Lake.
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April 02, 2025
As Global Markets Struggled, Private Equity Pounced In Q1
Stock markets slumped, mergers and acquisitions stumbled, and equity issuance took a breather in the first quarter of this year. But it was a different story for private equity, as global deal values shot up nearly 40% compared to the prior-year period, according to PitchBook data published Wednesday.
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April 02, 2025
Freshfields Guides Leggett & Platt On $285M Aerospace Sale
Freshfields US LLP is guiding Leggett & Platt on the sale of its Aerospace Products Group to Tinicum Inc. for $285 million, as the company seeks to better align its portfolio with its long-term vision, according to a Wednesday announcement from Leggett & Platt.
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April 02, 2025
Davis Wright Welcomes Longtime Jones Day Finance Atty
Davis Wright Tremaine LLP announced Tuesday that it has hired a longtime Jones Day attorney focused on advising investment management industry participants, praising his decades of experience helping clients navigate U.S. federal securities laws.
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April 02, 2025
Experian Completes $350M Deal For Brazil Biz ClearSale
Multinational Experian PLC said Wednesday it has completed its acquisition of Brazil-based ClearSale SA in a $350 million deal that the credit reference agency said will broaden its offering to include transaction fraud detection in account opening.
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April 02, 2025
AP Moller To Take Former Maersk Unit Private In $690M Deal
Danish investment company A.P. Moller said Wednesday that it has agreed to buy the remaining shares it does not already own in Svitzer, a towage and marine services provider, for 4.7 billion Danish kroner ($690 million).
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April 02, 2025
Greencore To Buy Freshfields-Led Meals Maker For £1.2B
Sandwich maker Greencore said Wednesday that it has agreed to acquire Bakkavor, a British producer of ready-to-eat meals, for approximately £1.2 billion ($1.5 billion) in a deal guided by Freshfields LLP.
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April 01, 2025
Javice Must Don Ankle Bracelet For Now, Despite Pilates Gig
Frank founder Charlie Javice must wear a location-monitoring ankle bracelet, pending further court review, as she awaits sentencing, following her conviction at trial on fraud and conspiracy charges for purportedly conning JPMorgan Chase & Co. into buying her now-defunct educational startup, in spite of her claims that it will leave her unable to work in her new gig as a fitness instructor.
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April 01, 2025
Saudi Co. Wants 11th Circ. To Revive Oil Suit Against Siemens
A Saudi Arabian company on Tuesday urged the Eleventh Circuit to reverse the dismissal of its business interference complaint against Siemens Energy Inc., arguing a lower Florida federal court should allow the lawsuit to proceed and resolve the alleged factual claims.
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April 01, 2025
CarePoint's Bankruptcy Plan Needs Changes, Judge Says
A Delaware bankruptcy judge determined on Tuesday that more work is needed on the Chapter 11 plan from New Jersey hospital operator CarePoint that would have handed control of the health system's medical facilities to one of its creditors, finding the debtor must address another creditor's claim that its collateral has diminished in value.
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April 01, 2025
Trump Admin Fights Wash.'s Bid To Expand Layoff Injunction
The Trump administration has urged a California federal judge to reject the state of Washington's request to expand an injunction blocking federal agencies from firing probationary employees, saying the bid to broaden the order to other agencies is unnecessary and based on unfounded speculation of harm.
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April 01, 2025
Chancery OKs $500K Incentive Fee After Santander Class Win
Citing competing policy interests, a Delaware vice chancellor on Tuesday pruned to $500,000 a $1.63 million incentive fee proposal for two Santander Consumer USA Holdings Inc. stockholders who led a squeezeout-merger challenge that produced a $162.5 million class settlement in October.
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April 01, 2025
Nordstrom Family Faces Class Action Over Merger Deal
Members of the Nordstrom family and Mexican omnichannel retailer and shareholder El Puerto de Liverpool, along with Nordstrom Inc., were hit with a class action alleging that they formed a group to acquire the remaining shares of the retailer and take it private at an inadequate price and based on an unfair and unlawful process.
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April 01, 2025
Printing Company Wins Suit Over $265M ESOP Sale
An Illinois federal judge tossed a former printing company executive's suit claiming the business could have gotten a better price when selling its shares held in an employee stock ownership plan, or ESOP, for $265 million, ruling his case lacks evidence of self-interest or sabotage.
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April 01, 2025
Jack Nicklaus Defeats Suit Over NIL Rights
Golfing legend Jack Nicklaus won a ruling in New York state court dismissing claims by his former company over the use of his name, image and likeness.
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April 01, 2025
Loeb, Skadden Steer Siddhi Acquisition's Upsized $240M IPO
Siddhi Acquisition Corp., backed by food and technology-focused private investors, began trading Tuesday after raising an upsized $240 million initial public offering, represented by Loeb & Loeb LLP and underwriters' counsel Skadden Arps Slate Meagher & Flom LLP.
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April 01, 2025
Court Won't Toss FTC's Merger Penalty Case Against 7-Eleven
A D.C. federal court refused to toss the Federal Trade Commission's case looking to hit 7-Eleven with a $77.5 million penalty for allegedly violating a merger settlement after rejecting arguments that only the U.S. Department of Justice can seek civil penalties for the commission.
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April 01, 2025
FDA Cuts Prompt Biotech Players To Rethink Deal Strategies
Funding cuts at the U.S. Department of Health and Human Services are sending ripples of concern through the biotech industry, as attorneys advise companies to consider a wider breadth of strategic alternatives amid fears of regulatory delays.
Expert Analysis
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Series
Flying Makes Me A Better Lawyer
Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.
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Takeaways From Final Regulations For China Investment Ban
The U.S. Department of the Treasury’s final rule banning U.S. investment in emerging Chinese technology clarifies some key requirements, includes additional exceptions for covered transactions and attempts to address concerns that the rule will put U.S. businesses at a competitive disadvantage, say attorneys at Simpson Thacher.
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Series
Circus Arts Make Me A Better Lawyer
Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.
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Recent Listeria Outbreaks Hold Key Compliance Lessons
Listeria outbreaks in ready-to-eat foods from Boar's Head and other companies, and the U.S. Department of Agriculture and U.S. Food and Drug Administration responses to these outbreaks, should be closely evaluated from an overall compliance and risk management perspective by food manufacturers, retailers and industry investors, say attorneys at Kirkland.
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3 Ways To Train Junior Lawyers In 30 Minutes Or Less
Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.
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Expect Surging Oil And Gas Industry Under New Trump Admin
Throughout his recent campaign, President-elect Donald Trump promised increased oil and natural gas production and reduced reliance on renewables — and his administration will likely bring more oil and gas dealmaking, faster federal permitting and attempts to roll back incentives for green energy, say attorneys at Sidley.
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Opinion
The Right Kind Of Deregulation In Commercial Airline Industry
Similar to the economic deregulation that occurred more than four decades ago during the Carter administration, the incoming Trump administration should restore the very limited federal regulatory role in the economics of the airline industry, says former U.S. transportation secretary James Burnley at Venable.
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The Bar Needs More Clarity On The Discovery Objection Rule
Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.
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Del. Dispatch: Clarifying Charter Amendment Vote Obligations
The Delaware Court of Chancery recently held in Gunderson v. The Trade Desk that only a majority stockholder vote is needed to approve a company's proposed reincorporation from Delaware to Nevada through a corporate conversion, which bodes well for other companies also considering leaving the First State, say attorneys at Fried Frank.
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Series
Being A Navy Reservist Makes Me A Better Lawyer
Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.
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How To Prepare For Expanded HSR Notification Process
Following the recent publication of the Federal Trade Commission's final rule enhancing premerger reporting requirements under the Hart-Scott-Rodino Act, filing parties can take key steps to comply by the new Feb. 10 effective date, say attorneys at Squire Patton.
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Cos. Should Inventory Issues To Prep For New Congress
As the legislative and oversight agendas of the 119th Congress come into sharper focus, corporate counsel should assess and plan for areas of potential oversight risk — from tax policy changes to supply chain integrity — even as much uncertainty remains, say attorneys at WilmerHale.
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So You Want To Move Your Law Practice To Canada, Eh?
Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.
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Opinion
Efficiency Dept. Should Consolidate Antitrust Enforcement
President-elect Donald Trump's planned Department of Government Efficiency should transfer the authority of the Federal Trade Commission's Bureau of Competition into the U.S. Department of Justice's Antitrust Division, because there is no justification for two federal entities to enforce antitrust and competition laws, says retired judge Susan Braden.
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Trump's 2nd Term May Be A Boost To Banking Industry
President-elect Donald Trump's personnel appointments could be instrumental in reshaping the financial regulatory landscape during his second administration, likely allowing for greater merger activity and halting or undoing some of the Biden administration's more restrictive financial services policies, say attorneys at Debevoise.