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Mergers & Acquisitions
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April 22, 2025
Instagram Founder Says Meta 'Starved' Co. After Acquisition
During testimony in the Federal Trade Commission's monopoly case against Meta on Tuesday, the founder of Instagram said his company was "starved" after being acquired by Facebook as Mark Zuckerberg grappled with "a lot of emotion" over Instagram siphoning users away from its parent company's flagship platform.
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April 22, 2025
Pharmaceutical Co. Buyers Win Del. Fraud Suit Revival
Multiple reasonable interpretations of a letter agreement in a $35 million deal for three pharmaceutical companies proved enough Tuesday to trigger a Delaware Supreme Court reversal of a lower court decision tossing buyers' fraudulent inducement claims.
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April 22, 2025
23andMe Has Received 'Significant Interest' In Ch. 11 Auction
Genetic testing company 23andMe has received significant interest in the Chapter 11 auction for its assets, its counsel told a Missouri bankruptcy judge Tuesday at a hearing where it received final approval of a $35 million financing package to fund its bankruptcy case.
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April 22, 2025
Tivity Health Denied Win In Suit Over Nutrisystem Buy
Health program company Tivity Health was largely denied a summary judgment win over investors who sued the company over its troubled $1.3 billion purchase of Nutrisystem, according to an order from a Tennessee federal judge who ruled Tivity's duty to disclose certain information is still debatable.
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April 22, 2025
Del. Justices Order Matterport CEO Cash-Out Recalculation
Delaware's Supreme Court reversed and ordered a recalculation Tuesday for a $79 million Court of Chancery ruling on additional damages and interest due a former CEO of 3D building imaging company Matterport Inc. who challenged his $80 million cash-out in a 2021 go-public sale.
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April 22, 2025
Nuclear Startup To Go Public Through $475M SPAC Deal
Nuclear startup Terra Innovatum said Tuesday it plans to go public at a valuation of $475 million by merging with special purpose acquisition company GSR III Acquisition Corp., joining several industry peers to go public through a SPAC deal.
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April 22, 2025
At Least 10 Firms Assist On $1B Barrick Gold Alaska Deal
Barrick Gold Corp. said Tuesday it has agreed to sell its 50% interest in the Donlin Gold Project in Alaska to Paulson & Co. and Novagold Resources Inc. for $1 billion in cash, in a deal steered by at least 10 law firms.
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April 22, 2025
3 Firms Build $7B Moss Adams, Baker Tilly Merger
Advisory and tax giant Baker Tilly and accounting and wealth management firm Moss Adams LLP have announced plans to merge in a $7 billion deal built by three law firms, in a move the parties say will create the sixth-largest advisory CPA firm in the country.
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April 22, 2025
Simpson Thacher-Led KKR Bids $1.2B For Sweden's Biotage
Private equity giant KKR said Tuesday that it has agreed to acquire Swedish life sciences company Biotage AB in an approximately 11.6 billion Swedish krona ($1.2 billion) deal guided by Roschier Advokatbyrå AB, Simpson Thacher & Bartlett LLP and Advokatfirman Vinge.
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April 22, 2025
Mayer Brown, Kirkland Steer $10.6B Boeing Tech Asset Sale
Boeing said Tuesday it has agreed to sell portions of its digital aviation solutions business to software-focused private equity investor Thoma Bravo in a $10.55 billion all-cash transaction steered by Mayer Brown LLP and Kirkland & Ellis LLP.
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April 22, 2025
Fieldfisher Steers Swedish Investor's UK Monitoring Biz Buy
Vestum AB said Tuesday it has completed the acquisition of Nortech Management Holdings Ltd., a U.K. maker of water and electrical monitors, as the Swedish infrastructure investor adds an existing supplier to its civilian engineering portfolio.
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April 21, 2025
Trump Media Exec Seeks Penalties In 'Frivolous' Hacking Suit
A board director for President Donald Trump's social media company and his associate urged a Florida federal court to impose sanctions in a "frivolous" lawsuit alleging they hacked a cloud server to steal documents used to oust the former CEO, saying their accusers can't show what information was allegedly taken.
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April 21, 2025
Verizon Fights Telecom Group's Claims Against Frontier Deal
Verizon is telling the Federal Communications Commission not to listen to a telecommunications network industry group's call to tie stronger internet protocol interconnection regulations to Verizon's $20 billion acquisition of Frontier, arguing critics haven't identified any transaction-specific harms stemming from the merger.
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April 21, 2025
Paramount Global, Stockholders Pause Skydance Doc Suit
Paramount Global and three pension fund stockholders have agreed to pause a suit seeking records on the entertainment giant's planned $8 billion merger with Skydance Media pending further negotiations or closing on the deal.
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April 21, 2025
Unions Score Block On Orders To Fire Probationary Workers
A California federal judge blocked the Office of Personnel Management from ordering federal agencies to fire probationary employees and stopped several agencies from heeding its directives, but he declined to order them to rehire the workers they've already let go.
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April 21, 2025
3 Firms Guide Brazilian Energy Producer's $155M SPAC Deal
Brazilian oil refiner PX Energy on Monday agreed to merge with special purpose acquisition company Papaya Growth Opportunity Corp. I in a deal that will take PX public in the United States at an estimated $155 million value, guided by three law firms.
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April 21, 2025
Neogen Selling Cleaners Biz To Kersia For $130M
Neogen Corp. said Monday it will sell its global cleaners and disinfectants business to Kersia Group for $130 million in cash, plus additional contingent consideration based on future performance.
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April 21, 2025
CMOC Buying Lumina Gold For $420M
China's CMOC Group Ltd. has agreed to acquire Vancouver-based Lumina Gold Corp. in an all-cash deal valued at CA$581 million ($420 million), Lumina said Monday, as the miner looks to expand its gold portfolio in Latin America.
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April 21, 2025
DOJ's Google Ad Litigation Lead Joins BakerHostetler
A 10-year Justice Department veteran, who helped supervise the government's case alleging Google's advertising practices create an unfair monopoly, has left the agency to join BakerHostetler, the firm announced Monday.
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April 21, 2025
Navis Capital Partners Clinches $230M Next Generation Fund
Southeast Asian private equity shop Navis Capital Partners said Monday it wrapped its latest fund with $230 million in total commitments.
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April 21, 2025
Solar Co. Oya Gets OK On Ch. 11 Liquidation After Asset Sales
A Delaware bankruptcy judge on Monday confirmed solar energy producer Oya Renewables' bid to liquidate through Chapter 11 under a plan supported by creditors, months after the company sold most of its assets for $39 million.
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April 18, 2025
Eletson's New Owners Look To Oust Reed Smith From Cases
Reorganized Greek oil shipping group Eletson Holdings Inc. has told a New York bankruptcy judge that Reed Smith LLP should stop representing the company and its former owners in litigation and appeals or face sanctions.
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April 18, 2025
Heritage Coal Challenges Ex-Owner's Liens In Ch. 11 Offshoot
Bankrupt coal producer Heritage Coal & Natural Resources LLC has asked a Delaware bankruptcy judge to reject the asserted liens of the company's former owner and general manager, saying the debtor's equipment is already subject to liens of prepetition lenders.
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April 18, 2025
Latham-Led Vacasa Sticks With Casago, Rejects $131M Bid
Latham & Watkins LLP-advised Vacasa said Friday that its board has rejected a revised acquisition bid from Davidson Kempner Capital Management, indicating that price alone wasn't enough to result in a superior deal to the company's existing agreement with Casago.
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April 18, 2025
Saxton & Stump's M&A Chair Moves To Fox Rothschild
Fox Rothschild LLP has grown its corporate offerings in Pennsylvania with the addition of Saxton & Stump LLC's former mergers and acquisitions leader, according to a Friday announcement.
Expert Analysis
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Exploring China's 1st Administrative Merger Control Ruling
As the first judicial ruling in China's merger control regime, the Beijing Intellectual Property Court's recent upholding of Simcere's acquisition of Tobishi helps to clarify how the Chinese antitrust authority and court assess remedies, say attorneys at Tian Yuan Law Firm.
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Series
Competitive Weightlifting Makes Me A Better Lawyer
The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.
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Opinion
DOJ's Visa Suit Shows Pitfalls Of Regulating Innovative Tech
A policy of allowing free-market mechanisms to operate without undue interference remains the most effective way to foster innovation, and the U.S. Department of Justice's 2024 case against Visa illustrates the drawbacks of regulating innovative technology, says attorney Thomas Willcox.
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How New SBA Rule May Affect Small Government Contractors
By limiting competition from larger entities, the Small Business Administration's recently published final rule may help some small government contractors, but these restrictions on set-aside work following a merger, acquisition or sale may also deter small businesses' long-term growth, say attorneys at Akerman.
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Nippon Order Tests Gov't Control Over Foreign Investments
The U.S. government is primarily interested in restraining foreign transactions involving countries of concern, but former President Joe Biden’s January order blocking the merger of Nippon Steel and U.S. Steel shows that all foreign direct investments are under the federal government’s microscope, say attorneys at Blank Rome.
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Opinion
Inconsistent Injury-In-Fact Rules Hinder Federal Practice
A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.
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In-House Counsel Pointers For Preserving Atty-Client Privilege
Several recent rulings illustrate the challenges in-house counsel can face when attempting to preserve attorney-client privilege, but a few best practices can help safeguard communications and effectively assert the privilege in an increasingly scrutinized corporate environment, says Daniel Garrie at Law & Forensics.
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Series
Collecting Rare Books Makes Me A Better Lawyer
My collection of rare books includes several written or owned by prominent lawyers from early U.S. history, and immersing myself in their stories helps me feel a deeper connection to my legal practice and its purpose, says Douglas Brown at Manatt Health.
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Rethinking How To Engage Shareholders, Activists Via Proxies
This proxy season, companies should consider visually driven proxy statements that highlight the board's strengths, the alignment between executive compensation and performance, and a commitment to sustainability and risk management to earn the support of investors and fend off hostile acquirers, say Craig Clay and Ron Schneider at DFIN.
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Tips For Pharma-Biotech Overlap Reporting In New HSR Form
While there’s no secret recipe for reporting overlaps to the Federal Trade Commission in the new Hart-Scott-Rodino Act form, there are several layers of considerations for all pharma-biotech companies and counsel to reflect on internally before reporting on any deal, say attorneys at A&O Shearman.
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Opinion
Judge Should Not Have Been Reprimanded For Alito Essay
Senior U.S. District Judge Michael Ponsor's New York Times essay critiquing Supreme Court Justice Samuel Alito for potential ethical violations absolutely cannot be construed as conduct prejudicial to the administration of the business of the courts, says Ashley London at the Thomas R. Kline School of Law of Duquesne University.
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Lights, Camera, Ethics? TV Lawyers Tend To Set Bad Example
Though fictional movies and television shows portraying lawyers are fun to watch, Hollywood’s inaccurate depictions of legal ethics can desensitize attorneys to ethics violations and lead real-life clients to believe that good lawyers take a scorched-earth approach, says Nancy Rapoport at the University of Nevada, Las Vegas.
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Steel Cases Test Executive Authority, Judicial Scope
Lawsuits challenging former President Joe Biden’s order blocking the merger of Japan's Nippon Steel and U.S. Steel may shape how future administrations wield presidential authority over foreign investment in the name of national security, says Hdeel Abdelhady at MassPoint Legal.
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Del. Ruling Further Narrows Scope Of 'Bump-Up' Exclusion
The recent Delaware Superior Court ruling in Harman International v. Illinois National Insurance offers a critical framework for interpreting bump-up exclusions in management liability insurance policies, and follows the case law trend of narrow interpretation of such exclusions, says Simone Haugen at Tressler.
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Will 4th Time Be A Charm For NY's 21st Century Antitrust Act?
New York's recently introduced 21st Century Antitrust Act would change the landscape of antitrust enforcement in the state and probably result in a sharp increase in claims — but first, the bill needs to gain traction after three aborted attempts, says Tyler Ross at Shinder Cantor.