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Mergers & Acquisitions
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December 22, 2025
$14.8M Deal Proposed In Genius Sports SPAC Chancery Case
Stockholders and defendants in a Delaware Chancery Court lawsuit challenging the merger that took sports data company Genius Sports Ltd. public through a special purpose acquisition company have reached a proposed $14.8 million cash settlement, according to a release by plaintiffs' counsel Monday.
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December 22, 2025
Ashley Stewart's Board Seeks To Nix Ch. 11 As Bogus
The battle for plus size fashion retailer Ashley Stewart is continuing in a Delaware bankruptcy court, with one director seeking to dismiss the case while others are calling for a court-appointed trustee to investigate the company's November asset sale.
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December 22, 2025
Black & Decker Sells Aerospace Biz To Howmet For $1.8B
Howmet Aerospace Inc. will buy Stanley Black & Decker Inc.'s aerospace and defense manufacturing business group in an all-cash deal for $1.8 billion, the companies announced Monday.
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December 22, 2025
Trian, General Catalyst Snag Janus Henderson In $7.4B Deal
Asset manager Janus Henderson Group on Monday unveiled plans to be bought by an investor group led by Trian Fund Management and General Catalyst Group Management in an all-cash take-private deal with an equity value of $7.4 billion that was built by four law firms.
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December 22, 2025
Cleary, Orrick Guide Alphabet's $4.75B Data Center Biz Buy
Alphabet Inc. has agreed to pay $4.75 billion to buy Intersect Power, a data center infrastructure developer the Google owner has partnered with for about a year, in a deal advised by Cleary Gottlieb Steen & Hamilton LLP and Orrick Herrington & Sutcliffe LLP, the companies said Monday.
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December 22, 2025
5 Firms Build $8.4B Clearwater Analytics Take-Private
Investment management platform Clearwater Analytics has announced plans to go private after agreeing to be bought by a consortium of investors led by private equity giants Permira and Warburg Pincus in a deal valued at roughly $8.4 billion that was built by five law firms.
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December 22, 2025
Davis Polk-Led Cintas Lobs $5.2B Takeover Bid At UniFirst
Uniform maker Cintas Corp., led by Davis Polk & Wardwell LLP, on Monday revealed that it has submitted a takeover proposal to workwear company UniFirst's board of directors in a deal that would value it at roughly $5.2 billion.
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December 22, 2025
4 Firms Guide Champion Iron's $290M Bid For Rana Gruber
Australian mining company Champion Iron Ltd. said Monday that it will buy Norwegian rival Rana Gruber ASA for 2.93 billion Norwegian kroner ($290 million) to create a global, high-grade iron ore producer.
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December 22, 2025
Weil Helps UK Energy Biz Buy Gulf Coast Oil Co. For $3.2B
Harbour Energy PLC, a producer of oil and gas in the North Sea, said on Monday that it will buy LLOG Exploration for $3.2 billion in a move to give it access to the Gulf of Mexico's rich oil reserves.
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December 19, 2025
Iowa Appeals Schwab Antitrust Deal After Objections
Iowa's attorney general has appealed to the Fifth Circuit a Texas federal judge's final approval of a settlement ending an antitrust class action suit over The Charles Schwab Corp.'s merger with TD Ameritrade, following the Hawkeye State's previous objection claiming the deal offered class members insufficient relief.
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December 19, 2025
Rail Giants Pitch $85B Deal To Transportation Regulators
Union Pacific Corp. and Norfolk Southern Corp. submitted the required application for their planned $85 billion merger on Friday, telling regulators the rail networks have few overlaps and that a combined system will allow freight to move faster and more efficiently across the country.
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December 19, 2025
Hogan Lovells, Cadwalader's Divergent Paths Led To Deal
The blockbuster combination between Hogan Lovells and Cadwalader Wickersham & Taft LLP announced this past week involves two law firms that have charted very different paths in recent years. Here, a look at what events led up to the firms joining together at the deal table.
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December 19, 2025
Dems Push For Scrutiny Of Compass' $1.6B Anywhere Buy
Democratic senators urged the U.S. Department of Justice and the Federal Trade Commission to scrutinize Compass Inc.'s $1.6 billion buy of rival broker Anywhere Real Estate Inc., saying further consolidation could drive commissions higher and squeeze out remaining competitors.
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December 19, 2025
BigLaw And Boutiques Both Shine In 2025's Top 10 Deals
A tight circle of elite law firms guided the way as megadeals roared back with force in 2025, while a small group of specialist and international firms also made their mark across global transactions spanning infrastructure, gaming, pharmaceuticals, artificial intelligence and energy.
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December 19, 2025
Taxation With Representation: Baker Botts, Morgan Lewis
In this week's Taxation With Representation, Trump Media and Technology Group merges with fusion power company TAE Technologies, pharmaceutical company Cencora boosts its stake in cancer care company OneOncology, and Phoenix Financial partners with private equity giant Blackstone to plug billions into various credit strategies.
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December 19, 2025
PE Attys Get Creative As Uncertainty Dampened Deal Market
Private equity firms and their portfolio companies sought more creative ways to complete deals in 2025 as they navigated uncertainty stemming from President Donald Trump's tariffs and other macroeconomic jitters that dampened activity for much of the year.
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December 19, 2025
3 Firms Advise As Sony Nabs Majority Stake In Peanuts Brand
WildBrain has agreed to sell its 41% stake in Peanuts Holdings LLC to Sony Music Entertainment (Japan) Inc. and Sony Pictures Entertainment Inc. for C$630 million in cash, or roughly $457 million, in a deal steered by three law firms.
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December 19, 2025
Biomedical Co. Gets Approval For Ch. 11 Auction In January
Eye disease treatment developer Clearside Biomedical on Friday got permission from a Delaware bankruptcy judge for a January auction of its assets after saying it had resolved objections from shareholders and the U.S. Trustee's Office.
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December 19, 2025
Battery Co. Factorial To Go Public Via $1.1B SPAC Deal
Battery technology company Factorial Inc., led by Goodwin Procter LLP, has announced plans to go public by merging with special purpose acquisition company Cartesian Growth Corp. III, advised by Greenberg Traurig LLP, in a deal that values the battery maker at $1.1 billion.
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December 19, 2025
Chancery Keeps Alive Electric Vehicle Co. SPAC Suit
Most counts have gone forward in a Delaware Court of Chancery suit alleging an unfair "blank check" company take-public merger with a since-reorganized electric vehicle company that faced allegedly undisclosed supply chain problems.
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December 19, 2025
BioMarin Inks $4.8B Amicus Buy As Patent Litigation Resolved
BioMarin Pharmaceutical Inc. has agreed to acquire Amicus Therapeutics for $4.8 billion, in a deal bolstered by Amicus' settlement of patent litigation that secures U.S. exclusivity for its Galafold drug until 2037, the companies said Friday.
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December 19, 2025
Simpson Thacher Helps KKR Buy Out Wella For $750M
Beauty heavyweight Coty said Friday that it will sell its remaining 25.8% stake in Wella to KKR for $750 million while keeping the right to proceeds from any further sale or initial public offering of the hair care brand.
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December 18, 2025
The Biggest Rulings From A Busy Year At The 1st Circ.
The nation's smallest federal appellate panel punched above its weight in 2025, grappling with numerous suits against the Trump administration, high-profile criminal appeals, a $34 million legal fee bid and a hotly contested kickback law.
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December 18, 2025
Judge Wants Live Nation Antitrust Trial Limited To 5 Weeks
A New York federal judge nudged the Justice Department and Live Nation during a hearing Thursday to limit next year's antitrust jury trial against the live entertainment giant to no more than five weeks, not the eight the government wants, although he left open the possibility for more time.
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December 18, 2025
Apollo Could Fetch $12B For Atlas Air, And More Rumors
The past week saw no lack of chatter about potential sales, backdoor discussions, fundraises, initial public offerings and activist investor power moves.
Expert Analysis
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Series
Law School's Missed Lessons: Practicing Client-Led Litigation
New litigators can better help their corporate clients achieve their overall objectives when they move beyond simply fighting for legal victory to a client-led approach that resolves the legal dispute while balancing the company's competing out-of-court priorities, says Chelsea Ireland at Cohen Ziffer.
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Meta Monopoly Ruling Highlights Limits Of Market Definition
A D.C. federal court's recent ruling that Meta is not monopolizing social media raises questions, such as why market definition matters and whether we have the correct model of competition, which can aid in making a stronger case against tech companies, says Shubha Ghosh at the Syracuse University College of Law.
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Series
The Law Firm Merger Diaries: How To Build On Cultural Fit
Law firm mergers should start with people, then move to strategy: A two-level screening that puts finding a cultural fit at the pinnacle of the process can unearth shared values that are instrumental to deciding to move forward with a combination, says Matthew Madsen at Harrison.
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The Future Of Digital Asset Oversight May Rest With OCC
How the Office of the Comptroller of the Currency handles fintechs' growing interest in national trust bank charters, demonstrated by a jump in filings this year, will determine how far the federal banking system extends to digital assets, and whether the charter becomes a mainstream supervisory pathway, say attorneys at Sheppard Mullin.
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Considerations When Invoking The Common-Interest Privilege
To successfully leverage the common-interest doctrine in a multiparty transaction or complex litigation, practitioners should be able to demonstrate that the parties intended for it to apply, that an underlying privilege like attorney-client has attached, and guard against disclosures that could waive privilege and defeat its purpose, say attorneys at DLA Piper.
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Series
The Law Firm Merger Diaries: Making The Case To Combine
When making the decision to merge, law firm leaders must factor in strategic alignment, cultural compatibility and leadership commitment in order to build a compelling case for combining firms to achieve shared goals and long-term success, says Kevin McLaughlin at UB Greensfelder.
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5 Bonus Plan Compliance Issues In Financial Services
As several legal constraints — including a new California debt repayment law taking effect in January — tighten around employment practices in the fiercely competitive financial services sector, the importance of compliant, well-drafted bonus plans has never been greater, say attorneys at Jackson Lewis.
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Opinion
Despite Deputy AG Remarks, DOJ Can't Sideline DC Bar
Deputy Attorney General Todd Blanche’s recent suggestion that the D.C. Bar would be prevented from reviewing misconduct complaints about U.S. Department of Justice attorneys runs contrary to federal statutes, local rules and decades of case law, and sends the troubling message that federal prosecutors are subject to different rules, say attorneys at HWG.
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From Bank Loans To Private Credit: Tips For Making The Shift
The relationship between private credit and syndicated bank deals will evolve as the private market continues to grow, introducing new challenges for borrowers comparing financing options, particularly pertaining to loan documentation and working capital, say attorneys at Haynes Boone.
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Rule Amendments Pave Path For A Privilege Claim 'Offensive'
Litigators should consider leveraging forthcoming amendments to the Federal Rules of Civil Procedure, which will require early negotiations of privilege-related discovery claims, by taking an offensive posture toward privilege logs at the outset of discovery, says David Ben-Meir at Ben-Meir Law.
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Series
My Miniature Livestock Farm Makes Me A Better Lawyer
Raising miniature livestock on my farm, where I am fully present with the animals, is an almost meditative time that allows me to return to work invigorated, ready to juggle numerous responsibilities and motivated to tackle hard issues in new ways, says Ted Kobus at BakerHostetler.
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Litigation Funding Could Create Ethics Issues For Attorneys
A litigation investor’s recent complaint claiming a New York mass torts lawyer effectively ran a Ponzi scheme illustrates how litigation funding arrangements can subject attorneys to legal ethics dilemmas and potential liability, so engagement letters must have very clear terms, says Matthew Feinberg at Goldberg Segalla.
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E-Discovery Quarterly: Recent Rulings On Dynamic Databases
Several recent federal court decisions illustrate how parties continue to grapple with the discovery of data in dynamic databases, so counsel involved in these disputes must consider how structured data should be produced consistent with the requirements of the Federal Rules of Civil Procedure, say attorneys at Sidley.
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How Litigating Antitrust Fix Helped GTCR Prevail In Court
An Illinois federal judge's recent denial of the Federal Trade Commission's injunction request in the GTCR acquisition of Surmodics joins a developing series of cases in which deal parties have prevailed against government antitrust challenges by proposing a post-complaint fix and litigating the as-amended deal, say attorneys at Paul Weiss.
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Series
Building With Lego Makes Me A Better Lawyer
Building with Lego has taught me to follow directions and adapt to unexpected challenges, and in pairing discipline with imagination, allows me to stay grounded while finding new ways to make complex deals come together, says Paul Levin at Venable.