Mergers & Acquisitions

  • April 24, 2024

    Private Equity Lag Continues To Stunt M&A Growth

    Large leveraged buyout activity remained muted in the first quarter as the refinancing of old private equity loans took precedence over new loans, contributing to a slower-than-anticipated rebound in overall mergers and acquisitions, according to a new report from data provider PitchBook.

  • April 24, 2024

    CMA Chair Defends Agency's Interventionist Merger Approach

    The chair of the Competition and Markets Authority has defended the U.K.'s antitrust watchdog's aggressive and interventionist attitude, saying it helps drive the country's "economic growth and productivity."

  • April 24, 2024

    MassMutual Plugs Billions Into Apollo-Backed Atlas SP

    Private equity giant Apollo, led by Paul Weiss Rifkind Wharton & Garrison LLP, on Wednesday announced that Simpson Thacher & Bartlett LLP-led insurance company MassMutual has become the newest minority equity owner of its Atlas SP Partners after a multibillion-dollar investment.

  • April 24, 2024

    UK Eyes Amazon, Microsoft AI Deals For Merger Probes

    The U.K.'s antitrust watchdog said Wednesday it would look into Amazon's $4 billion investment in U.S.-based artificial intelligence startup Anthropic, and Microsoft Corp.'s deals with two other big AI players, to see if they fall under the country's merger control rules.

  • April 24, 2024

    Ex-Kirkland M&A Atty Joins Greenberg Traurig In Chicago

    Greenberg Traurig LLP has announced the hiring of a former Kirkland & Ellis LLP attorney in Chicago as the latest shareholder in its mergers and acquisitions and private equity practices.

  • April 24, 2024

    Baker McKenzie Adds 17-Atty Deals Team From Munger Tolles

    A team of 11 transactional partners and six associates in Los Angeles is heading to Baker McKenzie from Munger Tolles & Olson LLP, according to an announcement Wednesday.

  • April 24, 2024

    Container Giant MSC Offers $700M For Shipping Rival

    A subsidiary of MSC, one of the world's largest container shipping companies, said on Wednesday that it has agreed to buy Gram Car Carriers for 7.6 billion Norwegian kroner ($692 million), in a deal steered by Advokatfirmaet Thommessen AS.

  • April 24, 2024

    GXO Gets UK All-Clear For £762M Bid For Logistics Biz

    GXO Logistics Inc. said Wednesday that the U.K. government has granted national security clearance to its proposed £762 million ($950 million) takeover of British supply-chain group Wincanton PLC.

  • April 24, 2024

    Ithaca Energy Inks £754M Deal For Eni's UK Oil, Gas Sites

    Ithaca Energy has agreed to buy a "substantial" portion of the U.K. oil and gas-producing assets of Eni of Italy for approximately £754 million ($937 million) as the independent operator eyes expansion in the North Sea.

  • April 23, 2024

    Ex-Autonomy Tech Exec Doubted 'Bizarre' $6M Deal, Jury Told

    Autonomy's ex-chief technology officer testified Tuesday in the California federal fraud trial of former CEO Michael Lynch that he had concerns about Autonomy's "bizarre" 2010 deal to sell $6 million in repackaged hardware, which prosecutors allege was never delivered and was only used to artificially inflate Autonomy's revenues.

  • April 23, 2024

    Grain Co.'s $18B Deal Raises Competition Flags For Canada

    Canada's competition enforcer said Tuesday it has concerns over grain and seed supplier Bunge Ltd.'s plan to buy global grain trader Viterra Ltd. in an $18 billion deal, saying the acquisition could result in lower prices paid to farmers and higher prices for refined canola oil.

  • April 23, 2024

    EV Co.'s SPAC Suit Gets Final OK For $1.9M Settlement

    Lightning eMotors Inc., which made electric commercial vehicles and has announced liquidation of its assets, has received final approval for a $1.85 million settlement of shareholder derivative claims against its brass alleging they hid supply chain issues that would keep it from scaling after going public via merger with a special purpose acquisition company.

  • April 23, 2024

    Trump's Stake In Truth Social Swells An Additional $1.2B

    The value of Donald Trump's stake in his newly public social media company soared by nearly $1.2 billion on Tuesday as the former president became eligible to receive bonus shares that were conditioned on the company's stock performance.

  • April 23, 2024

    Israeli Biotech Files Ch. 15 To Implement Take-Private Deal

    Gamida Cell Ltd., an Israeli biotechnology company developing immunotherapy products, filed for Chapter 15 protection Monday in Delaware seeking the American court's approval of its foreign take-private proposal with unsecured lenders.

  • April 23, 2024

    Fenwick, Covington Build $750M Sale Of Pharmaceutical Biz

    Global biopharmaceutical company Incyte, advised by Covington & Burling LLP, on Tuesday announced plans to buy clinical-stage drug discovery company Escient Pharmaceuticals, led by Fenwick & West LLP, for $750 million.

  • April 23, 2024

    Pre-Merger Deal Prompts Pharma Co. Derivative Suit In Del.

    An Ayala Pharmaceuticals stockholder has launched a derivative suit against the company's board and controlling investors in Delaware's Court of Chancery, accusing directors of issuing new shares to the controllers at far below market value, timed to take advantage of an asset sale worth up to $85 million.

  • April 23, 2024

    Cleveland-Cliffs Execs Say US Steel-Nippon Deal Is 'Dead'

    Cleveland-Cliffs Inc. executives said Tuesday that U.S. Steel is "denying reality" as it continues to pursue its $14.9 billion sale to Japan's Nippon Steel, suggesting that the deal is effectively "dead" following President Joe Biden's opposition to it and that the Ohio-based steel manufacturer remains the only viable buyer.   

  • April 23, 2024

    Virtua Says Trinity Health Won't Pay $12M ER Fight Legal Bill

    Virtua claimed Monday in New Jersey federal court that Trinity Health has backed out of an agreement to cover $12 million in counsel fees and costs incurred in a legal fight with a rival healthcare system over Virtua's acquisition of Our Lady of Lourdes Health Care Services from Trinity.

  • April 23, 2024

    Paul Hastings Transaction Security Adviser Joins V&E

    Vinson & Elkins LLP announced the hire Monday of a Paul Hastings LLP attorney with experience advising on national security laws related to foreign investment as a partner in Washington, D.C.

  • April 23, 2024

    Md.-Based Career Public Servant Is The FTC's Newest ALJ

    The Federal Trade Commission announced the appointment of another administrative law judge on Tuesday, elevating a longtime public servant who had previously become the first female Muslim American administrative law judge at the Maryland Office of Administrative Hearings.

  • April 23, 2024

    PE Giant Faces Sanctions Bid For Mexico Corruption Claim

    Advent International Corp. and its counsel at Ropes & Gray and Quinn Emanuel allegedly fabricated claims that a Mexican corporation's lawyers corruptly influenced prosecutors and judges in the country to freeze the private equity firm's assets and issue arrest warrants for executives, according to a filing in Massachusetts federal court.

  • April 23, 2024

    King & Spalding Adds Kirkland Employment Partner In DC

    King & Spalding LLP is boosting its global employment practice with the addition of a Kirkland & Ellis LLP partner who will be part of her new firm's Washington, D.C., office.

  • April 23, 2024

    Terminated Sale Of NBA's T-Wolves Looks Like A Power Play

    The canceled $1.5 billion sale of the NBA's Minnesota Timberwolves to a group featuring Alex Rodriguez can be attributed, in part, to explosive growth in team valuations over the last three years, but just as large a factor is the owner's hesitance to surrender the power inherent in major franchise ownership, legal experts say.

  • April 23, 2024

    KKR Pushes Smart Metering Investors To Accept £1.3B Bid

    Private equity giant KKR on Tuesday urged the shareholders of British energy infrastructure company Smart Metering who have not yet accepted its £1.3 billion ($1.6 billion) takeover offer to submit their shares by May 7.

  • April 23, 2024

    Freshfields-Led JD Sports Agrees To Buy US Rival For $1.1B

    JD Sports said on Tuesday that it has proposed to buy U.S. athletic fashion retailer Hibbet Inc. for approximately $1.08 billion as the U.K. sportswear store chain eyes expansion in the American southeast.

Expert Analysis

  • Inside Del. Determinations Of Specific Performance In M&A

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    Delaware M&A rulings, including several from the end of 2023, shed light on the facts that courts may consider when determining whether a party to a transaction is entitled to specific performance, say attorneys at White & Case and Odeko.

  • 9 Contractual Issues Tech Startups Should Be Wary Of

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    Technology startups often overlook relatively simple but crucial contracting steps that are essential to owning and protecting their intellectual property, and the consequences of this will almost always surface at some point, typically in connection with a key investment or other significant transaction involving the business, say attorneys at Mayer Brown.

  • A Potential Proactive Tool For Public-Private Joint Ventures

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    In the current environment of heightened antitrust enforcement, the National Cooperative Research and Production Act seems tailor-made for the collaborative work among competitors encouraged by the Biden administration's infrastructure and green energy funding legislation, say Jeetander Dulani and Susan Ebner at Stinson.

  • Bracing For Calif.'s New Health Transaction Framework

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    As California's new cost and market impact review regulations' April 1 date for its updated notice and review process approaches, healthcare entities should ready themselves for dramatic changes to the state's regulatory landscape and prepare for potentially substantial transaction delays, say Jordan Grushkin and Matthew Goldman at Sheppard Mullin.

  • FERC Actions Signal Concern Over Investors' Utility Stakes

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    Two recent orders and a notice of inquiry from the Federal Energy Regulatory Commission on the subject of whether large investors are asserting control of public utilities signal increasing regulatory scrutiny of the investment community's influence over the electric power industry, say attorneys at Day Pitney.

  • 10 Global Antitrust Trends To Anticipate In 2024

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    Proactive navigation of the antitrust enforcement environment remains crucial this year as legal policy and tools evolve to meet intensifying global economic complexity, including geopolitical tensions, trade realignment, market volatility and inflation, say attorneys at Freshfields.

  • Series

    Baking Bread Makes Me A Better Lawyer

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    After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.

  • Federal Courts And AI Standing Orders: Safety Or Overkill?

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    Several district court judges have issued standing orders regulating the use of artificial intelligence in their courts, but courts should consider following ordinary notice and comment procedures before implementing sweeping mandates that could be unnecessarily burdensome and counterproductive, say attorneys at Curtis.

  • Time To Step Up PFAS Due Diligence In Cross-Border M&A

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    Regulations in the U.S. and EU governing per- and polyfluoroalkyl substances will likely evolve to become global standards out of necessity and scale, so PFAS due diligence — particularly for buyers, sellers, and lenders and investors involved in multijurisdictional mergers and acquisitions — will be essential in 2024, say attorneys at Shipman & Goodwin.

  • What Can Be Learned From Adobe-Figma Merger Termination

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    The Competition and Markets Authority’s role in the recent termination of the proposed Adobe-Figma merger deal indicates the regulator's intention to be seen as a strong enforcer in the technology sphere, and serves as a warning for companies to address antitrust risks early on in the merger process, say Deirdre Taylor and Molly Heslop at Gibson Dunn.

  • Wachtell-X Ruling Highlights Trend On Arbitrability Question

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    A growing body of case law, including a California state court's recent decision in X Corp. v. Wachtell, holds that incorporation of specific arbitral body rules in an arbitration provision may in and of itself constitute clear and unmistakable evidence of delegation of arbitrability to an arbitrator, and thus such clauses should be drafted carefully, say attorneys at Norton Rose.

  • 7 E-Discovery Predictions For 2024 And Beyond

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    The legal and technical issues of e-discovery now affect virtually every lawsuit, and in the year to come, practitioners can expect practices and policies to evolve in a number of ways, from the expanded use of relevancy redactions to mandated information security provisions in protective orders, say attorneys at Littler.

  • Consider A Key Insurance Tool For Environmental M&A Deals

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    Transactional liability insurance can be a useful risk allocation tool for completing mergers and acquisitions in the renewable energy and climate and clean technology sectors, though policies must be structured carefully to achieve maximum coverage, say Joseph Castelluccio and Paul de Bernier at Mayer Brown.

  • 2 FCPA Settlements Illuminate Self-Disclosure, Disgorgement

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    Two of last year’s Foreign Corrupt Practices Act settlements — with biomedical company Lifecore and mining company Corsa Coal — suggest that the government will be much more flexible in negotiating disgorgement amounts if an entity voluntarily self-discloses misconduct, say Michael Gilbert and Lucas Amodio at Sheppard Mullin.

  • Opinion

    Conflicts Abound When Activist Short-Sellers Publish Reports

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    The self-serving relationship between activist short-sellers and plaintiff-side litigators is conflict-ridden and hinders the fact finder's impartiality when a short report forms the basis for lead plaintiffs' allegations, say Nessim Mezrahi and Stephen Sigrist at SAR.

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