Mergers & Acquisitions

  • August 30, 2024

    Harris Admin Would Stay Course On Tough Antitrust Policy

    Just two days after food and candy giant Mars announced its blockbuster $35.9 billion Kellanova purchase, Vice President Kamala Harris's campaign indicated plans to “crack down” on mergers between large food companies. That would differ significantly from another Trump presidency, which could see a generally more relaxed antitrust environment. Here, Law360 explores anticipated policy differences between the two.

  • August 30, 2024

    Monthly Merger Review Snapshot

    The Federal Trade Commission went to court against Kroger's $25 billion purchase of Albertsons and geared up for its looming handbags merger case, the Justice Department added to its case against Live Nation, and the sports-streaming juggernaut partnering ESPN, Fox and Warner Bros. Discovery hit a significant roadblock.

  • August 30, 2024

    Off The Bench: NFL Lets PE In, Ex-NBA Pro Denies Agent Deal

    In this week’s Off The Bench, the NFL shakes up its ownership rules and joins the rest of the pro sports world, while a former NBA player says his agency is trying to cling to him after he moved on. In case you were sidelined this week, Law360 is here to catch you up on the sports and betting stories that had our readers talking.

  • August 30, 2024

    Fla. Judge Won't Block Sale Of 18M Truth Social Co. Shares

    A Florida judge on Friday denied a request by Donald Trump's Truth Social to block the sale of 18 million shares by two of the company's co-founders, finding that the company would not be irreparably harmed by having to rely on a damages remedy if the sale goes through.

  • August 30, 2024

    Adani Ports Pays $185M For Stake In Offshore Vessels Biz

    Indian ports and logistics company Adani Ports and Special Economic Zone Ltd. on Friday revealed that it has agreed to take a controlling stake in offshore support vessel operator Astro in a $185 million cash deal.

  • August 30, 2024

    Why The NFL Finally Let Private Equity Onto The Playing Field

    The National Football League took its time approving private equity investment in team ownership, and approached it more conservatively than its pro sports league counterparts, but experts say that ultimately the purchasing power of private equity players couldn't be ignored, and the policy change will lead to significant financial benefits.

  • August 30, 2024

    Cancer Detection Co. Valued At $375M In SPAC Merger

    Blank check company Mountain Crest Acquisition Corp. V, advised by Loeb & Loeb LLP, announced that it has agreed to merge with and take public Korean cancer diagnosis technology company CubeBio Co. Ltd., led by Nelson Mullins Riley & Scarborough LLP, in a deal valued at $375 million.

  • August 29, 2024

    Ex-SPAC Agrees To Face 'Springing Penalty' In SEC Case

    Former blank check company National Energy Services Reunited Corp. has agreed to pay the U.S. Securities and Exchange Commission $400,000, with a potential additional penalty of $1.2 million if it doesn't undertake certain remediation efforts, over alleged financial reporting and controls failures stemming from its acquisition of 2 companies.

  • August 29, 2024

    DLA Piper Steers Tech-Focused SPAC GigCapital's Latest IPO

    GigCapital7 Corp., the latest special-purpose acquisition company led by technology-focused entrepreneur Avi Katz, began trading Thursday after completing a downsized initial public offering that raised $200 million, represented by DLA Piper and underwriters' counsel Lucosky Brookman LLP.

  • August 29, 2024

    Schwab's 'Cash Sweep' Paid For TD Ameritrade Buy, Suit Says

    The Charles Schwab Corp. has been hit with a proposed class action in California federal court by three customers alleging that the investment bank obtains "outsized benefits" from its cash sweep programs and used a significant amount of the cash to finance its $26 billion acquisition of TD Ameritrade Holding Corp. several years ago.

  • August 29, 2024

    NLRB Partners With Other Feds In Merger Probes

    The National Labor Relations Board said it's teaming up with the U.S. Department of Justice, the U.S. Department of Labor and the Federal Trade Commission to investigate mergers that present competition concerns for workers.

  • August 29, 2024

    Class Attys Seek Chancery Doc Sanctions In Santander Suit

    An attorney for Santander Consumer USA Holdings Inc. stockholders urged a Delaware vice chancellor Thursday to exercise the court's "common law" document retention enforcer role during arguments for sanctions against the big auto lender's board, controller and parent for deleting messages before a $2.5 billion minority squeeze-out merger.

  • August 29, 2024

    FTC Wants Kroger's Constitution Suit To Follow Merger Case

    The Federal Trade Commission is sparring with Kroger over where, and when, to handle the grocery giant's constitutional counterattack to the FTC's merger challenge, with the agency teeing up a bid to move the company's Ohio federal court suit to Oregon, where it's defending the proposed Albertsons purchase.

  • August 29, 2024

    Deals Rumor Mill: Ackman IPO, Covestro Takeover, Trinitech

    Bill Ackman is reviving plans for an initial public offering of his new closed-end fund, Abu Dhabi National Oil Company is inching closer to launching a takeover of plastics company Covestro, and private equity owners are exploring a $2 billion sale of financial software firm Trintech. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • August 29, 2024

    4 Firms Guide VivoPower Subsidiary's $904M SPAC Merger

    Electric utility vehicle company Tembo E-LV on Thursday announced that it has agreed to merge with special purpose acquisition company Cactus Acquisition Corp. 1 Ltd. in a deal built by four law firms that values the combined business at $904 million.

  • August 29, 2024

    Nippon Pledges $1.3B For US Steel In Quest For US Approval

    Nippon Steel Corp. has pledged to inject an additional $1.3 billion into United States Steel Corp. facilities as the Japanese company looks to get over the finish line with U.S. regulators on its controversial $14.9 billion merger proposal.

  • August 29, 2024

    Hogan Lovells-Led Paint Company Sells Silicas Biz For $310M

    Hogan Lovells-advised paint company PPG on Thursday announced that it has agreed to sell its silicas business to Polish chemicals company Qemetica SA in a deal that would produce roughly $310 million in pre-tax proceeds.

  • August 29, 2024

    Marathon Oil Stockholders Approve $23B ConocoPhillips Deal

    Marathon Oil Corp. said Thursday it has received the necessary stockholder approval for its pending $22.5 billion merger with ConocoPhillips, as the companies race to get the deal done amid an ongoing U.S. regulatory review.

  • August 29, 2024

    Kirkland Guiding Oneok On $5.9B Energy Infrastructure Deals

    Kirkland & Ellis LLP is guiding Oneok Inc. on agreements to purchase Global Infrastructure Partners' interest in EnLink Midstream LLC for $3.3 billion, and GIP's interest in Medallion Midstream LLC for $2.6 billion, expanding Oneok's energy transport and storage capabilities in the Permian Basin and Gulf Coast, the company said in a statement Thursday. 

  • August 29, 2024

    White & Case Guides Mærsk Family's $840M Engines Biz Bid

    The Mærsk family of Danish shipping magnates said on Thursday that it has made a $840 million offer for Swedish engine systems manufacturer Concentric AB to help it expand and develop products that will help reduce emissions.

  • August 28, 2024

    SEC Says Repeat Offenders Ran Medical Co. Investment Scam

    The U.S. Securities and Exchange Commission has reached a settlement with one of two men it accused of inflating the price of a healthcare company before an initial public offering with a shell company, saying he has violated a trading bar from the agency's previous suit against him.

  • August 28, 2024

    Capital One Says Merger's Pending Approval Tanks Challenge

    Capital One urged a Virginia federal judge to toss or pause a lawsuit challenging the bank's proposed $35 billion acquisition of Discover Financial Services, saying the suit's claims are too speculative and contingent on unknown future events since they depend entirely on the acquisition receiving regulatory and government approval.

  • August 28, 2024

    Bowl America Board Strikes $2.2M Deal To End Merger Suit

    Bowl America board members have agreed to pay nearly $2.2 million to settle a class action that alleged the company's board of directors acted in bad faith when it approved a merger with Bowlero Corp., according to a proposal submitted to a Maryland federal court.

  • August 28, 2024

    Wash. AG Fears Kroger Will Move Goalposts For Merger Trial

    The Washington Attorney General's Office told a state court Wednesday that Kroger refuses to commit to sticking with the current terms of its divestiture package in its merger with Albertsons, which the state fears would unfairly "move the goalposts" less than three weeks before a trial on the state's merger challenge kicks off.

  • August 28, 2024

    The NFL-Approved PE Firms That Can Now Invest In Teams

    The NFL made a landmark decision Tuesday to approve private equity ownership of teams, making it the last major North American sports league to bring PE dollars into the mix. It’s not a free-for-all, however; to start, the league selected specific funds that are now allowed to take non-controlling interests in teams. Here, Law360 looks at the approved investment players.

Expert Analysis

  • How New Rule Would Change CFIUS Enforcement Powers

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    Before the May 15 comment deadline, companies may want to weigh in on proposed regulatory changes to enforcement and mitigation tools at the disposal of the Committee on Foreign Investment in the United States, including broadened subpoena powers, difficult new mitigation timelines and higher maximum penalties, say attorneys at Venable.

  • PE In The Crosshairs Of Public And Private Antitrust Enforcers

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    A series of decisions from a California federal court in the recently settled Packaged Seafood Products Antitrust Litigation, as well as heightened scrutiny from federal agencies, serve as a reminder that private equity firms may be exposed to liability for alleged anti-competitive conduct by their portfolio companies, say attorneys at Axinn.

  • Series

    Swimming Makes Me A Better Lawyer

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    Years of participation in swimming events, especially in the open water, have proven to be ideal preparation for appellate arguments in court — just as you must put your trust in the ocean when competing in a swim event, you must do the same with the judicial process, says John Kulewicz at Vorys.

  • A Recipe For Growth Equity Investing In A Slow M&A Market

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    Carl Marcellino at Ropes & Gray discusses the factors bolstering appetite for growth equity fundraising in a depressed M&A market, and walks through the deal terms and other ingredients that set growth equity transactions apart from bread-and-butter venture capital investing.

  • PE-Healthcare Mergers Should Prepare For Challenges

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    State and federal regulators are increasingly imposing new requirements on healthcare transactions involving private equity partners, with mergers that would have drawn little scrutiny a few years ago now requiring a multijurisdictional risk analysis during the deal formation process, say attorneys at Stinson.

  • Why RWI Insurers Should Consider Excluding PFAS

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    As regulation of per- and polyfluoroalkyl substances escalates, carriers providing representations and warranties insurance should reconsider providing PFAS coverage on a case-by-case basis, say Dave Bartoletti and Ina Avalon at Taft Stettinius.

  • Don't Use The Same Template For Every Client Alert

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    As the old marketing adage goes, consistency is key, but law firm style guides need consistency that contemplates variety when it comes to client alert formats, allowing attorneys to tailor alerts to best fit the audience and subject matter, says Jessica Kaplan at Legally Penned.

  • Online Portal Helps Fortify Feds' Unfair Health Practices Fight

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    The Federal Trade Commission, U.S. Justice Department and the U.S. Department of Health and Human Services recently launched an online portal where the public can report potentially unfair healthcare practices, effectively maximizing enforcers' abilities to police anti-competitive actions that can drive up healthcare costs and chill innovation, say attorneys at Seyfarth.

  • Series

    Walking With My Dog Makes Me A Better Lawyer

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    Thanks to my dog Birdie, I've learned that carving out an activity different from the practice of law — like daily outdoor walks that allow you to interact with new people — can contribute to professional success by boosting creativity and mental acuity, as well as expanding your social network, says Sarah Petrie at the Massachusetts Attorney General’s Office.

  • Navigating SPAC Market Challenges For Microcap Issuers

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    For microcap issuers, the special-purpose acquisition vehicle market tells a cautionary tale in which few targets attain the advantages they seek, and important considerations for companies with market capitalization of under $300 million include negotiating costs and expenses upfront to avoid becoming saddled with debt, say attorneys at Lucosky Brookman.

  • Think Like A Lawyer: Follow The Iron Rule Of Trial Logic

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    Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.

  • The Art Of Asking: Leveraging Your Contacts For Referrals

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    Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.

  • The Drawbacks Of Banking Regulators' Merger Review Plans

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    Recent proposals for bank merger review criteria by the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. share common pitfalls: increased likelihood of delays, uncertainties, and new hurdles to transactions that could impede the long-term safety and soundness of the banks involved, say attorneys at WilmerHale.

  • Series

    Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • 7th Circ. Mootness Fee Case May Curb Frivolous Merger Suits

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    On April 15, the Seventh Circuit in Jorge Alcarez v. Akorn Inc. mapped out a framework for courts to consider mootness fees paid to individual shareholders after the voluntary dismissal of a challenge to a public company merger, which could encourage objections to mootness fees and reduce the number of frivolous merger challenges filed, say attorneys at Skadden.

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