Mergers & Acquisitions

  • June 05, 2024

    Truth Social Investors Want Fla. Suit Paused For Del. Claims

    Two early investors in Donald Trump's Truth Social media company urged a Florida judge on Wednesday to pause the company's suit trying to claim their shares while a first-filed suit in Delaware is pending, arguing that the company is forum shopping in an attempt to get around an unfavorable Delaware Chancery Court order.

  • June 05, 2024

    Davis Polk Guiding Dollar Tree On Potential Family Dollar Sale

    Davis Polk & Wardwell LLP is representing Dollar Tree Inc. in a formal strategic review of its Family Dollar business that could lead to a sale, spinoff or other disposition, the Virginia-based retailer revealed Wednesday.

  • June 05, 2024

    Ex-Skadden Atty, Credit Suisse Beat TransPerfect's Fraud Suit

    A Delaware federal judge has tossed TransPerfect Holdings LLC's lawsuit alleging that misrepresentations by a now-retired Skadden Arps Slate Meagher & Flom LLP partner and Credit Suisse Securities (USA) LLC led it to pay too much for language translation company TransPerfect Global Inc., finding that claims are time-barred.

  • June 05, 2024

    Orrick-Led SAP Inks $1.5B Deal For Israeli Tech Co. WalkMe

    German software company SAP SE said Wednesday it has agreed to purchase software-as-a-service company WalkMe Ltd. for approximately $1.5 billion.

  • June 05, 2024

    FTC Can't Pause Novant's $320M Bid To Buy NC Hospitals

    The Federal Trade Commission on Wednesday lost its bid to block Novant Health from buying two local hospitals in North Carolina for $320 million while it conducts an in-house review, with a federal judge reasoning that competition would actually fare better if the merger advanced.

  • June 05, 2024

    Husch Blackwell Adds Berger Singerman Finance Pro In Fla.

    Husch Blackwell announced Tuesday the hiring of a finance partner from Berger Singerman to boost both its corporate practice group and its presence in Florida.

  • June 05, 2024

    HanesBrands Selling Champion To Authentic For Up To $1.5B

    HanesBrands said Wednesday it has agreed to sell its Champion business to Authentic Brands Group for up to $1.5 billion, under the guidance of Kirkland & Ellis LLP and Jones Day.

  • June 04, 2024

    PE Firm Tells 5th Circ. It Got Pushed Out Of EV Co. Acquisition

    Texas-based private equity company Ancor Holdings LP says it got pushed out of an acquisition deal by another private equity group it brought in as backup, arguing in oral arguments at the Fifth Circuit on Tuesday that a binding letter of intent means it's entitled to future profits.

  • June 04, 2024

    Chinese Fund Asks To Nix Doc Bid In $830M Transaction Row

    A Chinese healthcare investment fund has asked a New York federal court to toss a Hong Kong medical fund's subpoena request seeking information in a foreign case stemming from a stymied $830 million transaction, saying the discovery bid isn't allowed for the private arbitration.

  • June 04, 2024

    Diddy Sells Stake In Revolt As Employees Assume Ownership

    Rap and media mogul Sean "Diddy" Combs has sold his majority stake in Revolt, the media and entertainment company he founded, shifting ownership of the business to its employees as his legal troubles continue to mount, according to a Tuesday announcement.

  • June 04, 2024

    HP Fraud Charges Against Ex-Autonomy Execs Head To Jury

    Closing arguments wrapped Tuesday in a California federal criminal trial over claims that former Autonomy CEO Michael Lynch and ex-finance vice president Stephen Chamberlain duped HP into overpaying billions for the British tech company, with Chamberlain's lawyer saying his client did his job "in good faith," which, in the court's eyes, is a "complete defense."

  • June 04, 2024

    Apollo Leading $11B Investment For 49% Stake In Intel JV

    Apollo Global Management said Tuesday it's heading up an $11 billion investment to acquire a 49% interest in a joint venture with Intel Corp. related to Intel's Fab 34 chip factory in Leixip, Ireland.

  • June 04, 2024

    Bread Financial Wants Suit Over Spinoff's 'Death Spiral' Axed

    Financial services company Bread Financial Holdings Inc. and its CEO have asked an Ohio federal judge to toss a proposed investor class action over the alleged "death spiral" of a now-bankrupt spinoff company, saying the suit actually details Bread's "good faith efforts" to establish the spinoff as a successful independent venture.

  • June 04, 2024

    Matterport Hit With Investor Suit Over $1.6B CoStar Deal Docs

    An investor of 3D building imaging company Matterport is attempting to prevent the company's proposed merger with real estate analytics company CoStar Group Inc., saying Matterport's deficient registration statement fails to show how the transaction will benefit public shareholders.

  • June 04, 2024

    Canadian Funeral Co.'s Stock Jumps 58% On C$1.2B Sale

    Toronto-based funeral, cremation and cemetery provider Park Lawn Corp. disclosed an agreement to sell the business for C$1.2 billion ($877.5 million) under the guidance of Bennett Jones LLP and Morgan Lewis & Bockius LLP, leading the company's stock to jump more than 58% on Tuesday. 

  • June 04, 2024

    Mich. Credit Union, Fla. Bank Merge With $2.2B In Assets

    Michigan-based ELGA Credit Union, advised by Honigman LLP, on Tuesday announced plans to buy Florida-based Marine Bank & Trust Co., led by Igler Pearlman PA, in a deal that will result in the combined banking company boasting roughly $2.2 billion of total assets.

  • June 04, 2024

    Khan, Kanter Say There's Bipartisan Will To Stop 'Coercion'

    The federal government's top antitrust enforcers said Tuesday their aggressive scrutiny of mergers and acquisitions is changing the way businesses approach consolidation at the start of the process, and that's good for consumers and workers alike.

  • June 04, 2024

    Illumina Board Puts Grail Spinoff In Motion After EU OK

    Illumina Inc. said Tuesday that its board had approved a spinoff of its cancer detection company following a push by activist heavyweight Carl Icahn and an ultimate order from European authorities to dispose of the asset. 

  • June 04, 2024

    Ex-Lumentum VP Traded On Merger Info, SEC Says

    The former vice president of product line management at Lumentum has been accused by the U.S. Securities and Exchange Commission of using nonpublic information about a pending merger to trade stock during his time with the laser products company.

  • June 04, 2024

    Simpson Reps Frontdoor On $585M Home Warranty Co. Buy

    Simpson Thacher is representing Frontdoor Inc. on a newly inked deal to buy fellow home warranties provider 2-10 Home Buyers Warranty, guided by Ropes & Gray, for $585 million in cash, according to a statement Tuesday.

  • June 03, 2024

    FTX, IRS Propose Settling $8B Tax Fight For Just $885M

    FTX and the Internal Revenue Service have reached a proposed settlement worth roughly $885 million that would resolve the agency's contention that the bankrupt cryptocurrency exchange operator owes $8 billion in taxes, according to a motion filed Monday in Delaware federal bankruptcy court.

  • June 03, 2024

    Ex-Autonomy CEO 'Had 500M Reasons' For Fraud, Jury Told

    Autonomy's ex-CEO Michael Lynch "had 500 million reasons to defraud HP," since he reaped $500 million by selling his company to the tech giant at an inflated price, a federal prosecutor argued Monday during closings for the businessman's criminal trial, while Lynch's lawyer told jurors, "HP was not a victim."

  • June 03, 2024

    ChampionX Investor Sues Over $7.8B Deal Proxy

    A shareholder of energy technology provider ChampionX Corp. has sued the company and its board of directors in an attempt to enjoin a proposed acquisition by another energy-focused technology company, SLB, alleging that ChampionX filed a deficient proxy statement.

  • June 03, 2024

    Kroger, Albertsons Can't Get More Info On FTC Markets

    An Oregon federal judge denied Kroger and Albertsons' requests for more information on the markets at issue in the Federal Trade Commission's ongoing attempt to block their merger, saying the companies' request is premature and excessively broad.

  • June 03, 2024

    Vietnamese EV Co. Hit With Investor Suit Over SPAC Merger

    Vietnamese electric car manufacturer VinFast Auto and several executives have been hit with a proposed class action alleging they exaggerated the strength of VinFast's business model and prospects following a merger with a special-purpose acquisition company last year.

Expert Analysis

  • Online Portal Helps Fortify Feds' Unfair Health Practices Fight

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    The Federal Trade Commission, U.S. Justice Department and the U.S. Department of Health and Human Services recently launched an online portal where the public can report potentially unfair healthcare practices, effectively maximizing enforcers' abilities to police anti-competitive actions that can drive up healthcare costs and chill innovation, say attorneys at Seyfarth.

  • Series

    Walking With My Dog Makes Me A Better Lawyer

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    Thanks to my dog Birdie, I've learned that carving out an activity different from the practice of law — like daily outdoor walks that allow you to interact with new people — can contribute to professional success by boosting creativity and mental acuity, as well as expanding your social network, says Sarah Petrie at the Massachusetts Attorney General’s Office.

  • Navigating SPAC Market Challenges For Microcap Issuers

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    For microcap issuers, the special-purpose acquisition vehicle market tells a cautionary tale in which few targets attain the advantages they seek, and important considerations for companies with market capitalization of under $300 million include negotiating costs and expenses upfront to avoid becoming saddled with debt, say attorneys at Lucosky Brookman.

  • Think Like A Lawyer: Follow The Iron Rule Of Trial Logic

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    Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.

  • The Art Of Asking: Leveraging Your Contacts For Referrals

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    Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.

  • The Drawbacks Of Banking Regulators' Merger Review Plans

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    Recent proposals for bank merger review criteria by the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. share common pitfalls: increased likelihood of delays, uncertainties, and new hurdles to transactions that could impede the long-term safety and soundness of the banks involved, say attorneys at WilmerHale.

  • Series

    Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • 7th Circ. Mootness Fee Case May Curb Frivolous Merger Suits

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    On April 15, the Seventh Circuit in Jorge Alcarez v. Akorn Inc. mapped out a framework for courts to consider mootness fees paid to individual shareholders after the voluntary dismissal of a challenge to a public company merger, which could encourage objections to mootness fees and reduce the number of frivolous merger challenges filed, say attorneys at Skadden.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

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    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • What 3rd Circ. Trust Ruling Means For Securitization Market

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    Mercedes Tunstall and Michael Gambro at Cadwalader break down the Third Circuit's March decision in Consumer Financial Protection Bureau v. National Collegiate Master Student Loan Trust, as well as predict next steps in the litigation and the implications of the decision for servicers and the securitization industry as a whole.

  • Ensuring Nonpublic Info Stays Private Amid SEC Crackdown

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    Companies and individuals must take steps to ensure material nonpublic information remains confidential while working outside the office, as the U.S. Securities and Exchange Commission continues to take enforcement actions against those who trade on MNPI and don't comply with new off-channel communications rules in the remote work era, say attorneys at BakerHostetler.

  • Behind Indiana's Broad New Healthcare Transactions Law

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    The high materiality threshold in Indiana's recently passed healthcare transaction law, coupled with the inclusion of private equity in its definition of healthcare entities, makes it one of the broadest state review regulations to date, say attorneys at DLA Piper.

  • Highlights From The 2024 ABA Antitrust Spring Meeting

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    U.S. merger enforcement and cartels figured heavily in this year's American Bar Association spring antitrust meeting, where one key takeaway included news that the Federal Trade Commission's anticipated changes to the Hart-Scott-Rodino form may be less dramatic than many originally feared, say attorneys at Freshfields.

  • What FERC's Disclosure Demands Mean For Cos., Investors

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    Two recent Federal Energy Regulatory Commission orders reflect the commission's increasingly meticulous approach to reviewing corporate structures in applications for approval of proposed consolidations, acquisitions or changes in control — putting the onus on the regulated community to track and comply with ever-more-burdensome disclosure requirements, say attorneys at Willkie.

  • Del. Match.com Ruling Maintains Precedent In Time Of Change

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    Despite speculation that the Delaware Supreme Court could drive away corporations if it lowered the bar for business judgment review in its Match.com stockholder ruling, the court broke its recent run of controversial precedent-busting decisions by upholding, and arguably strengthening, minority stockholder protections against controller coercion, say Renee Zaytsev and Marc Ayala at Boies Schiller.

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