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Mergers & Acquisitions
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May 02, 2025
DC Circ. To Decide If 14 Miles Of Trains Is Too Many
The D.C. Circuit is set to decide whether federal regulators used bad data to approve a $31 billion merger between Canadian Pacific and Kansas City Southern that will see 14 miles of trains running through a set of Chicagoland communities each day.
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May 02, 2025
Dems Urge Fed To Rethink $35B Capital One-Discover Deal
Democratic Sen. Elizabeth Warren of Massachusetts and Rep. Maxine Waters, D-Calif., have formally petitioned the Federal Reserve to pause and revisit its approval of Capital One's $35 billion acquisition of Discover, saying the central bank's analysis of the transaction had glaring gaps that make its conclusion legally unsustainable.
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May 02, 2025
Gores Group's Latest SPAC Leads 3 IPOs Totaling $792M
Gores Holdings X Inc., the latest of several special purpose acquisition companies formed by private equity firm The Gores Group, began trading Friday after pricing an upsized $312 million IPO, the largest of three new SPAC listings totaling $792 million.
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May 02, 2025
Ad Tech Judge Mulls Possible Google Exchange Divestiture
A Virginia federal judge expressed interest Friday in potentially forcing Google to divest a key piece of its advertising placement technology business, while voicing reservations with a U.S. Department of Justice proposal to also force another sale to address the search giant's ad tech monopoly.
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May 02, 2025
Trade War Spurs Companies To Freshen Disclosure Playbooks
Against the backdrop of a protracted trade war that has rattled investors, companies are honing their securities filings and public communications strategies, posing fresh challenges for corporations and their lawyers, who are otherwise accustomed to navigating global disruptions.
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May 02, 2025
Debevoise Guides Ara Partners On $800M Low-Carbon Fund
Ara Partners has raised more than $800 million for its first infrastructure fund, aimed at cutting carbon emissions from the industrial economy, with legal guidance from Debevoise & Plimpton LLP.
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May 02, 2025
Sidley Adds 10 A&O Shearman Attys In DC, NY, Singapore
Sidley Austin LLP has hired 10 attorneys from Allen Overy Shearman Sterling in New York, Washington, D.C., and Singapore, including the U.S. leader of the firm's financial services regulatory group.
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May 02, 2025
Live Nation Antitrust Fight Won't Have Split Damages Phase
A Manhattan federal judge declined Friday to break out a possible monetary damages phase in a suit by federal and state authorities accusing Live Nation of quashing competition in live entertainment, saying the move would be unlikely to streamline the complex case.
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May 02, 2025
3 Firms Guide As HGGC Takes Majority Stake In BofA Spinoff
Private equity firm HGGC has acquired a majority stake in valuation and compensation advisory firm Equity Methods from Montage Partners, in a deal steered by three law firms, Equity Methods confirmed Friday.
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May 02, 2025
23andMe Says 1.3M Customers Have Asked To Delete Data
23andMe executives told a meeting of creditors Friday that more than 1.3 million customers have asked the DNA testing company to cancel their accounts and delete their genetic information since it entered Chapter 11.
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May 02, 2025
Frank Execs Trade Blame In Dueling Bids For New Trial
Frank founder Charlie Javice and former executive Olivier Amar each requested new trials on charges alleging they tricked JPMorgan Chase & Co. into buying the student aid assistance startup for $175 million, with Javice asserting that her co-defendant acted as a second prosecutor and Amar saying he was unfairly lumped into what the government called a criminal scheme.
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May 02, 2025
Debevoise Guiding Roku On $185M Frndly TV Acquisition
Debevoise & Plimpton LLP advised Roku Inc. on its newly inked agreement to acquire Fenwick & West LLP-guided Frndly TV, a low-cost live TV streaming service, for up to $185 million in cash, as Roku looks to expand its subscription business and bolster live TV offerings.
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May 02, 2025
Taxation With Representation: Goodwin, Haynes Boone
In this week's Taxation With Representation, Merck buys SpringWorks Therapeutics, Novartis AG acquires Regulus Therapeutics Inc., Sabre Corp. sells its Hospitality Solutions business to private equity shop TPG, and TWG Global and Mubadala Capital team up to bolster their investments.
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May 01, 2025
Claims Against Attys In $2.6B Casino Merger Row Get Tossed
A Manhattan federal judge on Thursday permanently ended claims a real estate investor in a botched $2.6 billion Philippine casino deal brought against attorneys from Sadis & Goldberg LLP, finding that claims that they allowed a fraud to unfold and breached their fiduciary duties were too vague.
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May 01, 2025
Chancery Finds Contract Bars Appeal In Med Co. Merger
Private equity-tilted limited liability company contract terms beat minority investor challenges to the fairness of the $8.9 billion merger in January 2023 that joined Summit Health-CityMD and VillageMD, a Delaware vice chancellor ruled late Wednesday.
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May 01, 2025
Crypto Influencer Launches SPAC As 2 Acquirers Tap Market
A special purpose acquisition company led by crypto influencer Anthony Pompliano and advised by Reed Smith LLP has filed for an initial public offering to raise $200 million, while two other blank-check companies eyeing the fintech and tech sectors have raised more than $400 million combined.
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May 01, 2025
Del. Justices OK Mid-Case Appeal In Paramount Doc Suit
Delaware's Supreme Court on Wednesday approved a mid-case review for a Paramount Global stockholder suit seeking books and records on the company's proposed $8 billion tie-up with Skydance Media.
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May 01, 2025
CVC Plugs Funds Into Mobile Game Maker Dream Games
White & Case LLP-advised Dream Games, which makes popular mobile games such as Royal Match and Royal Kingdom, on Thursday announced that it secured a strategic investment from its sole equity partner, Latham & Watkins LLP-led private equity shop CVC Capital Partners.
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May 01, 2025
PE-Backed Hometown Food Nabs Chef Boyardee For $600M
Hometown Food Co., a portfolio company of Holland & Knight LLP-advised private equity shop Brynwood Partners, on Thursday announced plans to acquire the iconic Chef Boyardee brand from Mayer Brown LLP-led Conagra Brands Inc. in a $600 million deal.
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May 01, 2025
Sony Eyes $49B Semiconductor Unit Sale, Plus More Rumors
Sony could sell its semiconductor unit for $49 billion, while proxy advisory firm Glass Lewis is considering ending its practice of advising shareholder votes on politically charged topics, and AI startup Nscale plans to raise $2.7 billion in private capital to support the construction of data centers around the world.
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April 30, 2025
Judge Rejects $5M Fee Bid In Prospect Medical's Ch. 11
Bankruptcy Code provisions that allow creditors who make substantial contributions to be reimbursed for costs don't cover Prospect Medical's pre-Chapter 11 investment banker, a Texas bankruptcy judge said Wednesday, rejecting a finance firm's bid for a $5 million sale fee.
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April 30, 2025
Akoustis Gets OK For $30M Sale To SpaceX Subsidiary
A Delaware bankruptcy judge has approved a $30 million sale of some of the assets of radio frequency filter maker Akoustis Technologies to a SpaceX subsidiary after the debtor reached an agreement with a competitor that had concerns about trade secrets possibly being sold.
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April 30, 2025
2 SPACs Tap Public Markets For $321M Combined
Two separate special purpose acquisition companies have announced plans to raise a combined $321 million through their respective initial public offerings.
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April 30, 2025
5 Takeaways From PitchBook's Surprising Q1 Report
The latest data from PitchBook's Q1 Global M&A Report found that global M&A activity was robust in the first quarter of 2025, defying a prevailing sentiment about a sluggish start to the year, but the firm indicated that a slowdown in dealmaking could soon reveal itself in its data.
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April 30, 2025
TikTok Exec Calls Facebook, Instagram 'Complements'
A TikTok executive said Wednesday that his company views Facebook and Instagram as "complements" to the Chinese-owned short-form video platform rather than direct competitors playing in the same market, in testimony that largely supported the Federal Trade Commission's claim that Meta dominates personal social networking services.
Expert Analysis
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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.
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Predicting Shareholder Activism Trends In New Trump Admin
While President-elect Donald Trump has promised tax policies, deregulation and lax antitrust enforcement — which all fuel shareholder activism — a closer look at his first administration's track record suggests that his second presidency might be a mixed bag for activist investors and companies alike, say attorneys at Sidley.
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Destination Skiing And The DOJ's Mountain Merger Challenge
Attorneys at Robins Kaplan consider what the U.S. Department of Justice's second request for information portends for Alterra's acquisition of Colorado's Arapahoe Basin ski area, exploring the potential consequences for market definition, industry consolidation and the transformation of the lift ticket market.
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Promoting Diversity In The Selection Of ADR Neutrals
Excerpt from Practical Guidance
Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.
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Series
Playing Ultimate Makes Us Better Lawyers
In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron.
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Dissecting New Circuit Split Over SEC's Proxy Adviser Rule
The Sixth Circuit recently upheld the U.S. Securities and Exchange Commission's partial rescission of enhanced conflict-of-interest disclosure requirements for proxy voting advice businesses, creating a circuit split over broader questions concerning the standard for assessing the legality of agency actions in general, say attorneys at Cahill Gordon.
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E-Discovery Quarterly: Recent Rulings On Metadata
Several recent rulings reflect the competing considerations that arise when parties dispute the form of production for electronically stored information, underscoring that counsel must carefully consider how to produce and request reasonably usable data, say attorneys at Sidley.
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Striking A Balance Between AI Use And Attorney Well-Being
As the legal industry increasingly adopts generative artificial intelligence tools to boost efficiency, leaders must note the hidden costs of increased productivity, and work to protect attorneys’ well-being while unlocking AI’s full potential, says Ed Sohn at Factor.
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Empathy In Mediation Offers A Soft Landing For Disputes
Experiencing a crash-landing on a recent flight underscored to me how much difference empathy makes in times of crisis or stress, including during mediation, says Eydith Kaufman at Alternative Resolution Centers.
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Series
Being An Artist Makes Me A Better Lawyer
My work as an artist has highlighted how using creativity and precision together — qualities that are equally essential in both art and law — not only improves outcomes, but also leads to more innovative and thoughtful work, says Sarah La Pearl at Segal McCambridge.
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How Judiciary Can Minimize AI Risks In Secondary Sources
Because courts’ standing orders on generative artificial intelligence and other safeguards do not address the risk of hallucinations in secondary source materials, the judiciary should consider enlisting legal publishers and database hosts to protect against AI-generated inaccuracies, say attorneys at Lankler Siffert & Wohl.
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How Attorneys Can Break Free From Career Enmeshment
Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.
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Lawyers With Disabilities Are Seeking Equity, Not Pity
Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.
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Fostering Healthcare Industry Success With Joint Ventures
As the healthcare industry continues to evolve, joint ventures remain a key strategy to unite health systems, private equity firms and physician practices in leveraging their collective strengths to foster innovation and improve patient care, say Carole Becker and Travis Jackson at McDermott.