Mergers & Acquisitions

  • April 22, 2021

    3 Firms Steer Deluxe's $960M Purchase Of Pay Processing Co.

    Check printing and business services provider Deluxe Corp. said Thursday it will snap up First American Payment Systems LP in a $960 million deal guided by Weil Gotshal, Troutman Pepper and Fried Frank.

  • April 22, 2021

    Deals Rumor Mill: Toshiba, Discord, Oxford Nanopore

    Bain Capital might make a takeover offer for Toshiba, Discord has dropped out of $10 billion merger talks with Microsoft, and gene sequencing technology company Oxford Nanopore hopes to raise $3 billion or more in an IPO later this year. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

  • April 22, 2021

    3 Firms Build SPAC Deal For $2.2B Real Estate Tech Provider

    SmartRent.com, which provides enterprise smart home automation technology for property owners and renters, will go public at a roughly $2.2 billion equity value by merging with a special purpose acquisition vehicle, the companies said Thursday, in a deal crafted by DLA Piper, Gibson Dunn and Simpson Thacher.

  • April 21, 2021

    GenMark Investor Wants Records On $1.8B Roche Deal

    A GenMark Diagnostics shareholder sued the biotech company Wednesday in Delaware Chancery Court in a bid to gain access to records regarding Roche's planned $1.8 billion acquisition of the disease-testing business, saying there are reasons to suspect the deal was "the result of a potentially conflicted process."

  • April 21, 2021

    3 Firms Steer General Cannabis' $39.5M Buy Of Pot Retailer

    Colorado-based cannabis company General Cannabis Corp. announced Wednesday that it has agreed to acquire the pot retail operator Trees in a $39.5 million deal steered by Fox Rothschild LLP, Hoban Law Group and Green Light Law Group.

  • April 21, 2021

    Senate Panel Advances Bill Aimed At Curbing China's Rise

    The U.S. Senate Committee on Foreign Relations on Wednesday advanced a bipartisan bill aimed at combating the meteoric rise of China as a global competitor with almost unanimous support and few new amendments.

  • April 21, 2021

    Hertz Gets OK For Creditor Vote On Ch. 11 Plan

    A Delaware bankruptcy judge Wednesday declined to give potential alternative equity backers of Hertz Global's Chapter 11 plan more time to finalize their proposal, instead giving the car rental giant the go-ahead to send its restructuring plan out for a creditor vote.

  • April 21, 2021

    Khan Declines Blanket Recusal On Big Tech Cases

    If confirmed to the Federal Trade Commission, Big Tech critic Lina Khan told lawmakers Wednesday, she would keep an open mind on cases and pushed back against suggestions she should recuse herself when major online companies are targets of investigations.

  • April 21, 2021

    Baker McKenzie Guides Affirm's $300M Return Processor Buy

    Fintech startup Affirm will buy online return processor Returnly in a $300 million deal announced Wednesday with help from Baker McKenzie.

  • April 21, 2021

    Cooley-Led Workplace Software Firm Leads Trio Of Tech IPOs

    Cooley-led automation software company UiPath debuted in public markets Wednesday after raising $1.3 billion in an upsized initial public offering, leading a trio of newly minted public technology companies, while a medical device firm apparently paused IPO plans after a government inquiry over potential national security concerns.

  • April 21, 2021

    New Bill Targets Foreign Real Estate Deals Near Military Bases

    Republican lawmakers introduced a bill Wednesday that would direct the Committee on Foreign Investment in the United States to investigate any acquisition of land near a military installation if the buyer has ties to China or other adversaries, marking the second piece of legislation this month aimed at strengthening CFIUS.

  • April 21, 2021

    Pot Co. TerrAscend Picks Up Pa. Dispensaries In $70M Deal

    Cannabis operator TerrAscend Corp. has announced that it has agreed to acquire three retail dispensaries in northeast Pennsylvania operating under Keystone Canna Remedies, in a $70 million deal that is expected to close in the second quarter.

  • April 21, 2021

    Auto Parts Cos. Taking Volkswagen Antitrust Case To 6th Circ.

    Two units of car parts manufacturer Prevent Group will ask the Sixth Circuit to revive their lawsuit accusing Volkswagen of illegally maintaining a stranglehold over its suppliers after a Michigan federal judge found that the European companies' dispute doesn't belong in U.S. court.

  • April 21, 2021

    Gov't Contractor Maximus Buys VA Services Biz For $1.4B

    Government contractor Maximus said Wednesday it's buying U.S. Department of Veterans Affairs medical disability examinations provider Veterans Evaluation Services for $1.4 billion.

  • April 21, 2021

    Skadden, Gibson Cook Up $4.3B Food Service Equipment Deal

    Middleby Corp. will absorb fellow food service equipment supplier Welbilt Inc. for an enterprise value of roughly $4.3 billion, the companies said Wednesday, in a deal prepared with assistance from respective legal advisers Skadden and Gibson Dunn.

  • April 20, 2021

    TriZetto's $570M Punitive Damage Win Excessive, Judge Says

    A New York federal jury awarded excessive punitive damages as part of its $855 million verdict against Syntel following a trade secrets and copyright infringement trial, a judge found Tuesday, offering the trial's winner, TriZetto, the choice between a new punitive damages trial or a reduced $285 million award.

  • April 20, 2021

    FCC Won't Do Dems' 'Bidding' In Miami Station Sale, Carr Says

    The Federal Communications Commission's foremost Republican has rebuked reported calls from a group of congressional Democrats for the regulator to reject the sale of a Spanish-language radio station in South Florida, saying their demand "is based purely on politics."

  • April 20, 2021

    Pot Co. Jushi's M&A Tear Continues With $5M Buy In Ohio

    Multistate cannabis operator Jushi Holdings Inc. continued its acquisition spree with the announcement Tuesday that it would purchase an Ohio medical marijuana cultivator for $5 million.

  • April 20, 2021

    FTC's Challenge To $8B Illumina Merger Shipped To Calif.

    Illumina's fight with the Federal Trade Commission over its $8 billion plan to buy cancer testing company Grail will take place in California federal court after a D.C. judge decided that a Golden State venue would be more convenient for witnesses.

  • April 20, 2021

    DLA Piper Adds Benefits, Exec Comp Partner From Cooley

    DLA Piper added a former Cooley LLP special counsel as a partner at the firm's San Diego office, where she will join the employment practice, the firm said in a news release.

  • April 20, 2021

    9th Circ. Won't Revive Suit Over $1.6B Gigamon Sale

    The Ninth Circuit declined Tuesday to revive a securities class action accusing tech company Gigamon Inc. of misleading investors about a $1.6 billion acquisition offer, writing that the U.S. Supreme Court's decision in Omnicare leads to the conclusion that Gigamon did not materially misrepresent facts contained in statements of opinion.

  • April 20, 2021

    UK Watchdog Flags Gas Station Markets In £6.8B Asda Deal

    Competition watchdogs in the U.K. on Tuesday raised concerns about the operation of competing gas stations by Asda's new ownership group, following Walmart's sale of a £6.8 billion ($9.5 billion) stake in the British supermarket chain.

  • April 20, 2021

    Chancery Nixes Dyal Capital-Owl Rock Tie-Up Injunction

    Sixth Street Partners Management Co. lost a battle Tuesday to block Dyal Capital Management's $12.5 billion merger with Owl Rock Capital, after a Delaware vice chancellor branded its preliminary injunction motion as an unsupportable bid to force an undervalued Dyal sell-back of its stake in Sixth Street.

  • April 20, 2021

    ​​​​​FTC Rips Body Cam Co.'s Delay Bid Pending Justices' Review

    The Federal Trade Commission called on the Ninth Circuit on Monday to reject body camera maker Axon Enterprise Inc.'s request to pause the commission's in-house challenge to the company's merger with a rival while it appeals to the U.S. Supreme Court, arguing that Axon has shown neither injury nor the required likelihood of success necessary to stop the commission's proceeding.

  • April 20, 2021

    Toshiba Says It Can't Review PE Firm's Vague Takeover Bid

    Toshiba said Tuesday that it's unable to evaluate private equity firm CVC Capital's reportedly $20 billion bid to take over the Japanese technology giant because it lacked key financial and regulatory information.

Expert Analysis

  • 3 Procurement Priorities For Law Firms In Uncertain Times

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    As the pandemic and its associated economic disruption linger, law firm procurement teams should expand their objectives beyond purchasing and getting the best price for goods and services, to help firms become more nimble and achieve overarching strategic goals, says Lee Garbowitz at HBR Consulting.

  • Structuring Protein-Specific Life Science Partnerships

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    Forming target-based collaborations in the life sciences industry, which aim to discover and develop specific proteins to help cure diseases like COVID-19, requires careful consideration of both parties' rights and obligations, say Jeffrey Jay and Adam Golden at Hogan Lovells.

  • Opinion

    UK Is Proof Nonlawyer Ownership Threatens Legal Profession

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    Advocates claim that nonlawyer ownership of law firms — now allowed in Arizona — will increase low-income Americans' access to legal services, but the reality in the U.K. demonstrates that nonlawyer owners are drawn to profitable areas like personal injury and create serious conflicts of interest, say Austin Bersinger and Nicola Rossi at Bersinger Law.

  • NY Merger Ruling Offers Costly Lesson On Vague R&W Terms

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    A New York state court's recent dismissal of WPP Group v. RB/TDM Investors, an M&A dispute over alleged representation and warranty insurance breaches, illustrates the potential for expensive litigation and significant liability for buyers and sellers when contract language is unclear, say Jason Dubner and Mark Schwartz at Porter Wright.

  • Del. M&A Ruling Shows Pragmatic View On Expert Reports

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    Although statements in an expert witness report are arguably hearsay, the Delaware Chancery Court’s recent decision to allow them in Comtech/Gilat Merger Litigation offers insight into an area where case law is relatively sparse, and suggests the court views written reports as a pragmatic means to a just and efficient outcome, say Joseph Thompson and Elise Scoles at The Griffing Group.

  • Remote Bar Exams Pose New Learning Disability Challenges

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    New bar exam formats necessitated by the COVID-19 crisis — going from paper to computer, in-person to remote, human to artificial intelligence proctoring — may exacerbate shortcomings in disability assessments for learning-disabled test takers seeking accommodations, says Rebecca Mannis at Ivy Prep.

  • New Ariz. Law Practice Rules May Jump-Start National Reform

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    Arizona's far-reaching new rules opening its legal sector up to nonlawyer participation may encourage other states to follow suit, with both positive and negative consequences for clients, the justice system, legal education and lawyers' careers, say Maya Steinitz at the University of Iowa and Victoria Sahani at Arizona State University.

  • Pandemic Bankruptcy Avoidance Efforts Create New Hurdles

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    Steps that many businesses took to survive the COVID-19 crisis will result in major challenges this year, especially for the hardest hit industries, including retail, travel, oil and gas, and entertainment, say attorneys at Reed Smith.

  • 10 Tips For Your Next Virtual Court Appearance

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    Many federal and state courts will likely embrace virtual proceedings even after pandemic-related restrictions are lifted, so attorneys should get comfortable with the virtual platforms commonly used by courts, and follow a few audio and video best practices, says Justin Heminger, a senior litigation counsel at the U.S. Department of Justice.

  • Opinion

    Revisiting Klobuchar's Crucial Antitrust Reform Proposals

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    Given the new Democratic U.S. Senate majority, it's time for Congress to seriously consider Sen. Amy Klobuchar's recent and forthcoming antitrust reform proposals, which would restore antitrust law's power to prevent harmful consolidation and exclusionary conduct while growing the economy and protecting nascent companies, says Samuel Miller at Hastings Law School.

  • Navigating Business Valuation During The Pandemic

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    Disputes over business values in M&A transactions have increased as equity markets continue to grapple with uncertainty over the full extent of pandemic-related disruptions, but sticking to the basics and critically evaluating inputs and assumptions will provide the most credible result, say Mohnish Zaveri, Sujay Dave and Avishi Agarwal at The Brattle Group.

  • Don't Let Lies Infiltrate The Mediation Process

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    The pandemic-era rise in mediation brings about the increased risk that participants will engage in dishonest behavior with the expectation that settlement negotiations will be kept confidential, but lawyers should beware that state confidentiality protections differ, and that courts have applied ethical rules in the mediation context, say Jennifer Gibbs and Amanda Rodriguez at Zelle.

  • Perspectives

    Judges On Race: Lack Of Data Deters Criminal Justice Reform

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    Many state courts' failure to gather basic data on sentencing and other important criminal justice metrics frustrates efforts to keep checks on judges’ implicit biases and reduce racial disparities, say Justice Michael Donnelly at the Ohio Supreme Court and Judge Pierre Bergeron at the Ohio First District Court of Appeals.

  • Time For Cos. To Walk The Walk On Environmental Justice

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    With the Biden administration pledging to consider environmental justice across all agencies and in all federal decisions, companies must candidly assess their operations in order to make sure their statements on environmental justice are backed by measurable results, say attorneys at King & Spalding.

  • New Use Of SPAC Subsidiaries Offers Another IPO Option

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    Affinity Gaming's recent plan to raise $150 million through a special purpose acquisition company spotlights a new trend of private equity firms forming SPAC subsidiaries to acquire target companies and take them public as an alternative to standard initial public offerings, says Carol Anne Huff at Winston & Strawn.

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