In a letter Wednesday to FCC Chairman Ajit Pai, a California congresswoman accused the agency of unfairly giving AT&T and Verizon a leg up in the development of next-generation mobile service by approving a pair of multimillion-dollar spectrum license buyouts, calling for the commission to undo its actions.
An investor in tax and finance software venture Blucora Inc. argued late Wednesday that company directors were too conflicted to fairly consider and take up the claims in his multicount, derivative suit alleging duty breaches and self-interested board conduct in two costly acquisitions and other deals.
Cigna's $67 billion purchase of Express Scripts is set to face rigorous antitrust scrutiny amid a wave of deals integrating insurers and pharmacy benefits managers — especially given the government's recent hard-line stance on another high-profile vertical merger.
Commissioner Robert J. Jackson Jr. called for greater disclosure requirements for cyber security breaches at public companies on Thursday, after the U.S. Securities and Exchange Commission last month issued new guidelines surrounding cyber threats.
The European Union’s competition watchdog has set an April 23 deadline for a provisional decision on whether to clear Apple Inc.’s $400 million acquisition of music recognition service Shazam Entertainment Ltd., with a final decision due by June 2.
Alibaba Group Holding Ltd. is reportedly laying the groundwork for a Chinese stock market listing, Department of Justice antitrust officials aren’t satisfied with Bayer’s divestment plans related to its Monsanto takeover, and BP is looking to sell its stake in an Egyptian joint venture.
A New York bankruptcy judge on Thursday said the failure of Weil Gotshal & Manges LLP to disclose it had represented a Breitburn Energy Partners LP lienholder before taking on the company's bankruptcy case was a “fee issue” that could come into play when the firm tries to collect its pay.
California-based holding company SJW Group has agreed to merge with Connecticut Water Service in a $750 million deal that would make the company the third-largest investor-owned water and wastewater utility in the U.S., SJW Group said Thursday.
Sinclair Broadcast Group Inc. still hasn’t presented enough information for the Federal Communications Commission to adequately weigh station divestiture plans driven by its proposed $3.9 billion acquisition of Tribune Media Co., the American Cable Association said in its latest barrage against the merger.
A shareholder suit challenging the $34 million sale of a New Jersey airplane parts manufacturer will not be revived after the Delaware Supreme Court upheld a dismissal of the action Thursday, agreeing with the lower court’s ruling that the complaint did not show the company directors breached their fiduciary duties.
Credit information company Experian has agreed to buy a U.K.-based consumer credit data organization for £275m ($385 million) as a means to extend its reach into the U.K. market, the company said Thursday.
Private equity players are increasingly seeking to capitalize on the blossoming information technology sector, which has historically been primarily a target of venture capital, meaning PE attorneys can expect to be tasked with more work focused on IT fundraising and dealmaking and the unique legal issues that can arise.
A D.C. federal judge on Thursday railed against press reports that the trial contesting AT&T and Time Warner’s merger has been pushed back two days, when in fact only opening arguments have been moved to make way for two days of evidentiary arguments, beginning Monday, March 19.
Two Texas pipeline companies objected Wednesday to confirmation of ExGen Texas Power LLC’s Chapter 11, citing concerns about the creditworthiness of unnamed replacement guarantors for their long-term agreements to fuel four of ExGen’s power plants.
Yahoo Inc. successor company Altaba Inc. said in a filing with the Delaware Chancery Court late Tuesday that claims from noteholders that they are owed additional shares following a $4.5 billion sale of assets to Verizon Inc. aren’t supported by the terms of the note indenture, which requires a transfer of substantially all of Altaba’s assets for the bonus to be triggered.
Holland & Knight LLP announced Wednesday that it has added Steven D. Lear, a prominent attorney in corporate and real estate transactions, to its Miami office, from which he will lead the firm's National Joint Venture Practice Team.
Opes Acquisition Corp., a blank check company affiliated with private equity firm Axis Capital Management, said Wednesday it priced an initial public offering that raised $100 million, money intended to help fund the acquisition of a Mexican business.
Chinese acquirers are eager to ink cross-border deals, but the swift increase in regulatory oversight both at home and abroad is holding outbound investment levels down after roughly a decade of increasing activity.
Morgan Lewis & Bockius LLP has added EU and German competition lawyer Christina Renner as a partner with its antitrust team in Brussels, the firm announced Wednesday.
Siemens is expected to price the shares of its Healthineers unit at $34.64 a piece, investors have expressed interest in all of DWS’ offered shares, and French private equity firm Ardian is planning to sell off German pharmaceutical company Riemser Pharma GmbH.
A new law allowing private foundations to own all of a business under certain conditions gives a new lease on life to the foundation that owns the company producing and selling Newman’s Own food products. More private foundations may take ownership of profitable businesses as a result of this law, says Allen Bromberger of Perlman & Perlman LLP.
Add-on acquisitions are playing an increasingly important role in the private equity world as they enable funds to replicate the ability of strategic buyers to pay higher multiples. But don't let the relatively small size of add-ons fool you — the risks are real, says Gene Barton of Goulston & Storrs PC.
Legal leaders who want to meet their clients' expanding expectations should start moving their documents to future-ready document management solutions now if they want to stay competitive in the next few years, says Dan Puterbaugh of Adobe Systems Inc.
Digital health is now at the forefront of deal activity, which is creating opportunities and challenges in equal measure. Practitioners may now be required to address in a single transaction complex issues that previously would have arisen only in separate life sciences, technology or health care deals, say Kristopher Brown and Tony Chan of Dechert LLP.
The Delaware Chancery Court's decision in Miller v. HCP clarifies that minority investors in limited liability companies typically have very limited rights. Governing agreements often provide that LLC managers have no fiduciary duties, and the implied covenant of good faith is a weak tool for plaintiffs, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
It has been a rough three years in the energy sector. During the downturn, upstream master limited partnerships, large and small, were disproportionately affected. If we have learned anything from this cycle, it is that we should endeavor to structure MLPs to withstand even the harshest price environments, says Jeffery Malonson of King & Spalding LLP.
Recent announcements by senior antitrust officials at the U.S. Department of Justice suggest that merging parties in vertical transactions will face an increased burden in convincing the DOJ to settle. With a heavy skepticism toward behavioral remedies, the DOJ will act more like a cop than a parole officer, say attorneys with McDermott Will & Emery LLP.
The pace of securities class action filings, settlements and dismissals in 2017 each reached levels not seen in at least a decade — and 2018 is already looking up. Last year also saw record low settlement metrics, but they do not necessarily portend low aggregate settlements in 2018 and beyond, says Stefan Boettrich of NERA Economic Consulting.
It is too early to assess the full reach that Dell will have on appraisal in Delaware. But the Delaware Chancery Court's ruling last week in Verition Partners v. Aruba Networks provides a first look, say John Hughes and Jack Jacobs of Sidley Austin LLP.
With investment dollars continuing to flow in 2018, high-growth food and beverage brands will have the opportunity to think strategically and creatively about the investors they work with and deal structure, says Will Bernat of Nutter McClennen & Fish LLP.