Mergers & Acquisitions

  • December 08, 2025

    Conservative Justices Probe 'Husk' Of FTC Firing Protections

    The U.S. Supreme Court's conservative majority pushed back Monday against the 90-year-old precedent permitting the removal only for cause of Federal Trade Commission members, and perhaps those serving other independent agencies, calling those safeguards a "dried husk" and wondering where to draw the line for protected agencies.

  • December 08, 2025

    Chancery Blocks Opt-Out In $32M Emisphere Settlement

    The Delaware Chancery Court on Monday signed off on a $32 million class settlement over Emisphere Technologies Inc.'s $1.8 billion sale to Novo Nordisk AS, rejecting Emisphere investor IsZo Capital LP's push to opt out and pursue its own claims and trimming the investors' fee request to a 23.5% cut of the fund.

  • December 08, 2025

    EU Clears Mars' $36B Deal For Pringles Maker After Probe

    European competition enforcers approved snack food and candy giant Mars Inc.'s planned $35.9 billion purchase of Cheez-It and Pringles maker Kellanova, after an in-depth review found the move would not give the combined company too much leverage over retailers.

  • December 08, 2025

    3 Firms Advise Antero Natural Gas Asset Buy From HG Energy

    With Vinson & Elkins LLP, Latham & Watkins LLP and Kirkland & Ellis LLP advising, natural gas company Antero Resources Corp. announced an expansion Monday by paying $2.8 billion for assets from HG Energy, while an affiliate reached a separate $1.1 billion acquisition deal with the privately held company.

  • December 08, 2025

    4 Firms Lead $1.51B TC Transcontinental Packaging Deal

    Private equity-backed ProAmpac on Monday unveiled plans to acquire TC Transcontinental Packaging from TC Transcontinental in a $1.51 billion deal built by four law firms.

  • December 08, 2025

    MVP: Cravath's Daniel J. Cerqueira

    Daniel J. Cerqueira of Cravath Swaine & Moore LLP's M&A practice advised on high-profile deals, including Wiz's $32 billion acquisition by Google and Paramount's $28 billion merger with Skydance, earning him a spot as one of the 2025 Law360 M&A MVPs.

  • December 08, 2025

    Paul Weiss Guides IBM On $11B Buy Of Cooley-Led Confluent

    Tech company IBM, advised by Paul Weiss Rifkind Wharton & Garrison LLP, on Monday unveiled plans to acquire data streaming company Confluent, led by Cooley LLP, in an $11 billion deal.

  • December 08, 2025

    KKR Secures $348.9M For European Budget Hotel Acquisition

    Investment firm KKR said Monday that it has provided $348.9 million to support Tristan Capital Partners' acquisition of easyHotel, a budget hotel operator across Europe, in a transaction advised by Bryan Cave Leighton Paisner LLP and Linklaters LLP.

  • December 08, 2025

    Catching Up With Delaware's Chancery Court

    The Delaware Chancery Court delivered a busy first week of December, featuring commercial disputes, post-closing merger and acquisition battles and renewed scrutiny of fiduciary conduct ranging from oil and gas investments to healthcare acquisitions. 

  • December 05, 2025

    Netflix Merger Raises Theatrical Release Antitrust Fears

    Netflix's $82.7 billion play for Warner Bros. Discovery's studio and streaming business drew rebukes Friday from critics and lawmakers on both sides of the political spectrum, but antitrust observers offered a cautious assessment on the prospects of any government challenge.

  • December 05, 2025

    Constellation To Sell Power Plants For $26.6B Calpine Deal

    The U.S. Department of Justice said on Friday that enforcers have reached a deal allowing Constellation Energy Corp.'s $26.6 billion purchase of Calpine Corp. to move ahead, with the sale of power plants located in Delaware, Pennsylvania and Texas.

  • December 05, 2025

    Cancer Detection Biz Going Public Via $1.1B SPAC Merger

    Cancer detection company Freenome Holdings Inc. announced plans Friday to go public through a merger with special purpose acquisition company Perceptive Capital Solutions Corp. in a deal that gives the combined business a post-transaction equity value of $1.1 billion and was built by three law firms.

  • December 05, 2025

    Medline Accused In Chancery Of Withholding $10M Earnout

    A Florida-based holding company and its founder have sued medical supplier Medline in the Delaware Chancery Court, alleging it deliberately refused to make a $10 million payment tied to a 2023 acquisition, missed a hard deadline and is now acting in bad faith to avoid paying the key portion of the sale price.

  • December 05, 2025

    Paul Hastings Steers ITT's $4.8B Purchase Of Lone Star's SPX

    Paul Hastings is guiding ITT Inc. on an agreement to acquire industrial equipment maker SPX Flow Inc. from Lone Star Funds for $4.775 billion in cash and stock, according to an ITT announcement Friday.

  • December 05, 2025

    3 Firms Advise On Netflix's Planned $82.7B Warner Bros Buy

    Netflix said Friday it has agreed to acquire Warner Bros. Discovery's studio and streaming business in a cash-and-stock deal valuing the assets at $82.7 billion, including debt. 

  • December 04, 2025

    Wheeling & Appealing: The Latest Must-Know Appellate Action

    Is the False Claims Act constitutional? Will Mark Zuckerberg be deposed in high-profile privacy litigation? Did a major drugmaker's shenanigans cost investors nearly $7 billion? That's a small sample of the intriguing legal questions we're exploring in this preview of December's top appellate action.

  • December 04, 2025

    Blue Owl Capital Faces Investor Suit Over Redemption Woes

    Alternative investment manager Blue Owl Capital Inc. faces a proposed investor class action alleging that it concealed financial stress related to shareholder redemptions, hurting investors when it disclosed a quarterly earnings miss and announced a merger that could have halted certain private fund redemptions.

  • December 04, 2025

    Solmate To Acquire RockawayX, Creating 'Crypto Giant'

    Solmate Infrastructure, formerly known as Irish sports ownership holding company Brera Holdings, announced Thursday it has entered into a business combination with the blockchain arm of venture capital firm Rockaway Capital, RockawayX.

  • December 04, 2025

    Live Nation Customers Appear Poised For Antitrust Class Cert.

    Consumers accusing Live Nation of monopolizing the live entertainment industry were in a good position Thursday for class certification after a California federal judge issued a tentative ruling that would approve the request and appeared skeptical of the entertainment giant's arguments at a hearing.

  • December 04, 2025

    Fla. High Court Backs University Control Over Nonprofit

    The Florida Supreme Court on Thursday ruled that a university can control a research nonprofit's budget and approve its board members, saying a state law doesn't impair a memorandum of understanding between the two parties. 

  • December 04, 2025

    Del. Justices Nix Challenge To $1.1B Smart & Final Sale

    A three-justice Delaware Supreme Court panel has rejected with little comment a bid to revive a stockholder suit alleging disclosure failures and conflicted moves ahead of the $1.1 billion April 2019 sale of Smart & Final Stores Inc. to interests of Apollo Global Management.

  • December 04, 2025

    Prolonged FTC Review Kills $615M Healthcare Staffing Deal

    Talent software and staffing company Aya Healthcare Inc. abandoned its planned $615 million deal for Cross Country Healthcare Inc. on Thursday, citing uncertainty from an ongoing Federal Trade Commission review that was extended by the government shutdown.

  • December 04, 2025

    26North Scoops $885M Kitchen Unit Stake As 2 Firms Advise

    Kirkland & Ellis LLP and Skadden Arps Slate Meagher & Flom LLP are advising on 26North Partners LP's agreement to buy a 51% stake in the residential kitchen business of The Middleby Corp. at an $885 million value, according to a Thursday announcement. 

  • December 04, 2025

    Rural Carriers Upset Over FCC's AT&T Deal Approval

    Wireless carriers serving rural regions are dismayed at the Federal Communications Commission's staff decision this week to approve AT&T's $1 billion spectrum license deal with UScellular, saying it relies on flawed market analysis.

  • December 04, 2025

    Wachtell Advising OpenAI On Planned Neptune Purchase

    OpenAI has agreed to acquire experiment-tracking startup Neptune, a deal that brings in-house a set of tools designed to give researchers real-time visibility into how large artificial intelligence models learn.

Expert Analysis

  • Attys Beware: Generative AI Can Also Hallucinate Metadata

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    In addition to the well-known problem of AI-generated hallucinations in legal documents, AI tools can also hallucinate metadata — threatening the integrity of discovery, the reliability of evidence and the ability to definitively identify the provenance of electronic documents, say attorneys at Law & Forensics.

  • DOJ's UnitedHealth Settlement Highlights New Remedies Tack

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    The use of divestitures and Hart-Scott-Rodino Act compliance in the recent U.S. Department of Justice settlement with UnitedHealth Group and Amedisys underscores the DOJ Antitrust Division's willingness to utilize merger remedies under the second Trump administration, say attorneys at Buchanan Ingersoll.

  • When Atty Ethics Violations Give Rise To Causes Of Action

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    Though the Model Rules of Professional Conduct make clear that a violation of the rules does not automatically create a cause of action, attorneys should beware of a few scenarios in which they could face lawsuits for ethical lapses, says Brian Faughnan at Faughnan Law.

  • A Shift To Semiannual Reporting May Reshape Litigation Risk

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    While the U.S. Securities and Exchange Commission's proposed change from quarterly to semiannual reporting may reduce the volume of formal filings, it wouldn't reduce litigation risk, instead shifting it into less predictable terrain — where informal disclosures, timing ambiguities and broader materiality debates will dominate, says Pavithra Kumar at Advanced Analytical Consulting Group.

  • TikTok Divestiture Deal Revolves Around IP Considerations

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    The divestiture deal between the U.S. and China to resolve a security dispute over TikTok's U.S. operations is seen as a diplomatic breakthrough, but its success hinges on the treatment of intellectual property and may set a precedent in the global contest over digital sovereignty and IP control, say attorneys at Brownstein Hyatt.

  • CFIUS Trends May Shift Under 'America First' Policy

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    The arrival of the Committee on Foreign Investment in the United States' latest annual report suggests that the Trump administration's "America First" policy will have a measurable effect on foreign investment, including improved trendlines for investments from allied sources and increasingly negative trendlines for those from foreign adversary sources, say attorneys at Debevoise.

  • Lessons From Del. Chancery Court's New Activision Decision

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    The Delaware Court of Chancery's recent decision in AP-Fonden v. Activision Blizzard, declining to dismiss certain fiduciary duty claims at the pleading stage, offers takeaways for boards considering a sale, including the importance of playing an active role in the merger process and documenting key board materials, say attorneys at Cleary.

  • Series

    Practicing Stoicism Makes Me A Better Lawyer

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    Practicing Stoicism, by applying reason to ignore my emotions and govern my decisions, has enabled me to approach challenging situations in a structured way, ultimately providing advice singularly devoted to a client's interest, says John Baranello at Moses & Singer.

  • Series

    The Biz Court Digest: Texas, One Year In

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    A year after the Texas Business Court's first decision, it's clear that Texas didn't just copy Delaware and instead built something uniquely its own, combining specialization with constitutional accountability and creating a model that looks forward without losing touch with the state's democratic and statutory roots, says Chris Bankler at Jackson Walker.

  • Series

    Law School's Missed Lessons: Educating Your Community

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    Nearly two decades prosecuting scammers and elder fraud taught me that proactively educating the public about the risks they face and the rights they possess is essential to building trust within our communities, empowering otherwise vulnerable citizens and preventing wrongdoers from gaining a foothold, says Roger Handberg at GrayRobinson.

  • 5 Crisis Lawyering Skills For An Age Of Uncertainty

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    As attorneys increasingly face unprecedented and pervasive situations — from prosecutions of law enforcement officials to executive orders targeting law firms — they must develop several essential competencies of effective crisis lawyering, says Ray Brescia at Albany Law School.

  • Anticipating FTC's Shift On Unfair Competition Enforcement

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    As the Federal Trade Commission signals that it will continue to challenge unfair or deceptive acts and practices under Section 5 of the FTC Act, but with higher evidentiary standards, attorneys counseling healthcare, technology, energy or pharmaceuticals clients should note several practice tips, says Thomas Stratmann at George Mason University.

  • Del. Dispatch: Chancery Expands On Caremark Red Flags

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    The Delaware Court of Chancery’s recent Brewer v. Turner decision, allowing a shareholder derivative suit against the board of Regions Bank to proceed, takes a more expansive view as to what constitutes red flags, bad faith and corporate trauma in Caremark claims, say attorneys at Fried Frank.

  • Opinion

    It's Time For The Judiciary To Fix Its Cybersecurity Problem

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    After recent reports that hackers have once again infiltrated federal courts’ electronic case management systems, the judiciary should strengthen its cybersecurity practices in line with executive branch standards, outlining clear roles and responsibilities for execution, says Ilona Cohen at HackerOne.

  • Considering Judicial Treatment Of The 2023 Merger Guidelines

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    Courts have so far primarily cited the 2023 merger guidelines for propositions that do not differ significantly from prior versions of the guidelines, leaving it unclear whether the antitrust agencies will test the guidelines’ more aggressive theories, and how those theories will be treated by federal judges, say attorneys at Covington.

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