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Mergers & Acquisitions
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June 12, 2025
Meta Eyes $14B AI Bet, Bullish Seeks IPO, And More Rumors
Facebook owner Meta is eying a $14 billion investment in Scale AI, while Bullish plans to join the recent surge in cryptocurrency-related initial public offerings and investors want to take pizza chain Papa John's private at more than $60 per share. Here, Law360 breaks down the notable deal rumors from the past week.
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June 12, 2025
Inovalon Investors' Revived Chancery Suit Moves Forward
A Delaware chancellor sent into discovery investors' claim that Inovalon didn't properly disclose that a consortium of private equity firms that bought the healthcare data company paid $400 million in fees to its financial adviser before the transaction, dismissing some claims but finding it is "reasonably conceivable" that the suit's defendants acted in bad faith.
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June 12, 2025
Philly Suburb Retirees Sue Ch. 9 Receiver Over Asset Sale
A committee of retired city employees sued the Chapter 9 receiver overseeing the city of Chester, Pennsylvania's municipal bankruptcy, arguing that by requiring water system assets be sold to a publicly owned entity, the receiver is forgoing private bids that could generate an extra $270 million for the city's creditors.
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June 12, 2025
Allegion To Buy PE-Backed Security Tech Biz In €330M Deal
Global security products provider Allegion PLC on Thursday announced plans to acquire access technology company Elatec from private equity shop Summit Partners for €330 million ($382 million).
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June 12, 2025
Kirkland & Ellis Adds Former Ropes & Gray Deals Atty In NY
Kirkland & Ellis LLP said Wednesday it has welcomed a corporate partner from Ropes & Gray LLP to its New York office, touting her experience with major deals in sectors such as financial services, software, healthcare, industrials, consumer products and retail.
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June 12, 2025
5 Firms Guide $1.25B BioNTech, CureVac Oncology Deal
German biotech firm BioNTech SE said Thursday that it will acquire CureVac NV, a clinical-stage mRNA specialist, in an all-stock oncology-focused deal valuing it at about $1.25 billion and involving five legal advisers.
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June 12, 2025
Redfin Investor Seeks $450K In Fees In Merger Disclosure Suit
A Redfin investor asked a Washington federal judge to award $450,000 in legal fees to Monteverde & Associates PC and Wohl & Fruchter LLP, claiming his lawsuit was beneficial to shareholders despite the court's decision to deny his preliminary injunction request to postpone an investor vote.
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June 12, 2025
Chancery Tags AstraZeneca Unit For $180M 'Expectation' Loss
Rejecting calls for a $755 million award, a Delaware vice chancellor ruled late Wednesday that a biopharmaceutical company's shareholders are due $180.9 million in post-merger "expectation damages" plus interest after an AstraZeneca PLC unit's failure to reasonably pursue an acquired drug prospect.
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June 12, 2025
Latham, Paul Weiss Advise Auto Parts Cos. On $2.7B Deal
Latham-led Allison Transmission Holdings Inc. has agreed to acquire Paul Weiss-advised Dana Inc.'s off-highway unit for $2.7 billion, in a deal aimed at broadening Allison's global reach and strengthening its commercial portfolio.
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June 11, 2025
Wash. Panel Grills Worker Family On $5M Asbestos Win Basis
A Washington appellate panel seemed skeptical Wednesday that a family's $5.5 million win against an industrial manufacturer could stand when it never made the asbestos-containing equipment at issue in the product liability case, with one judge also remarking the company had raised a "hard argument" on appeal.
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June 11, 2025
Del. Justices Press Atty On Earnout Damage Bid Despite Miss
Delaware Supreme Court justices focused on the basics Wednesday during data management venture STX Business Solutions LLC's bid to revive a suit that was tossed by the Court of Chancery in October and accused a buyer of skipping a profitable deal to avoid paying an "earnout" bonus of up to $5.5 million.
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June 11, 2025
Verizon-Frontier Merger Gets Conn. Regulator's OK
Connecticut's Public Utilities Regulatory Authority on Wednesday approved the merger of debt-laden internet and telephone services provider Frontier Communications with a wholly owned subsidiary of Verizon, saying the latter has the financial and managerial stability plus the technical knowledge necessary to provide adequate and reliable service to customers.
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June 11, 2025
Chamber Looks To Keep Merger Notice Challenge In Texas
The U.S. Chamber of Commerce and other business groups have urged a Texas federal court not to transfer their case challenging the Federal Trade Commission's new merger filing requirements, arguing that several members based in the state regularly report mergers to the agency.
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June 11, 2025
FCC Dem's Job Safe For Now As Agency Ranks Shrink
The Federal Communications Commission is running on a shoestring when it comes to high-level decisions, with only a Republican chair and Democrat left in charge after recent departures that have made the agency's chairman unable to move major initiatives.
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June 11, 2025
HPE Says DOJ Wants 'Unfair' Juniper Merger Trial Advantage
Hewlett Packard Enterprise has asked a California federal judge to evenly dole out time for the July trial challenging its planned $14 billion purchase of Juniper Networks Inc., arguing the U.S. Department of Justice wants to "tilt the playing field in its favor" with an uneven allocation.
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June 11, 2025
Stripe Buying Crypto Wallet Co. Privy Amid Expansion
Privy, a startup offering crypto wallet technology for developers, said Wednesday that it will be acquired by payments company Stripe and expects to close the transaction "in the coming weeks."
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June 11, 2025
Attys For Disney Streaming Customers Vie To Lead Settlement
Days after announcing that they've reached a settlement with Disney, live TV streaming customers are looking to appoint Yavar Bathaee from Bathaee Dunne LLP to serve as the lead counsel in their proposed antitrust class action against the company over ESPN carriage agreement fees.
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June 11, 2025
Vedder Price Boosts IP, Exec Compensation Teams In NY
Vedder Price PC has bulked up its New York office with the addition of an intellectual property attorney from Vinson & Elkins LLP and an executive compensation and employee benefits pro from Schulte Roth & Zabel LLP.
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June 11, 2025
Bain Capital Drops Nearly $1.3B Bid For Craneware
Less than a month after Bain Capital disclosed it was considering a potential buyout of Scottish healthcare software company Craneware, both parties confirmed Wednesday that a nearly $1.3 billion offer is off the table.
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June 11, 2025
Firms Plug $190M Into Luxury Hospitality Biz Cipriani
Private equity firm Beach Point Capital Management LP, advised by Sidley Austin LLP, and multistrategy investment manager Sparta Capital Management Ltd. on Wednesday announced that they have agreed to provide a $190 million financing loan to luxury hospitality company Cipriani, led by Paul Hastings LLP, to support its growth.
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June 11, 2025
Linklaters-Led WSP To Buy Ashurst-Led Ricardo For £281M
Canadian engineering consultant WSP said Wednesday that it has agreed to acquire Ricardo for approximately £281 million ($379 million) in a deal guided by Linklaters LLP and Ashurst LLP, as the British technology consultancy deals with growing pressure from shareholder Science Group.
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June 11, 2025
Assura Backs Sweetened £1.7B KKR, Stonepeak Offer
Healthcare property manager Assura said Wednesday that it has backed a sweetened £1.7 billion ($2.3 billion) final offer from U.S. private equity shops KKR and Stonepeak, ending a months-long bidding war with a British real estate investment trust.
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June 10, 2025
Chancery Sends Protein Co. Suit Toward Trial With Caution
A suit accusing company insiders and investors of exploiting their position to sell plant protein venture Nutriati Inc. to a major investor for an unfair price easily survived a Delaware Court of Chancery dismissal bid Tuesday, but with a court caution that litigation costs could outweigh the stakes.
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June 10, 2025
Electric Truck Co. Lordstown Wants Investors' Suit Tossed
Electric truck startup Lordstown Motors Corp. has asked an Ohio federal judge to dismiss consolidated class claims from investors alleging the company misrepresented its production capacity and demand, saying it made no misleading representations about pre-orders.
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June 10, 2025
9th Circ. Skeptical Oregon Hospital Merger Law Is Too Vague
A Ninth Circuit panel on Monday appeared skeptical of a hospital association's challenge to an Oregon law that grants a state agency broad power to block proposed healthcare consolidations to ensure equitable access to healthcare, with two of the three judges questioning whether federal law could limit the state's authority.
Expert Analysis
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4 Ways Women Attorneys Can Build A Legal Legacy
This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.
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A Judge's Pointers For Adding Spice To Dry Legal Writing
U.S. District Judge Fred Biery shares a few key lessons about how to go against the grain of the legal writing tradition by adding color to bland judicial opinions, such as by telling a human story and injecting literary devices where possible.
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Preparing For Disruptions To Life Sciences Supply Chains
Life sciences companies must assess how new and escalating tariffs — combined with other restrictions on cross-border activity singling out pharmaceutical products and medical devices — will affect supply chains, and they should proactively prepare for antitrust and foreign direct investment regulatory review processes, say attorneys at Weil.
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Mastering The Fundamentals Of Life Sciences Due Diligence
As life sciences transactions continue to gain tremendous momentum, companies participating in these transactions must conduct effective and strategic regulatory due diligence, which involves extensive amounts of information and varies by manifold factors, says Anna Zhao at GunnerCooke.
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A Close-Up Look At DOJ's Challenge To HPE-Juniper Deal
The outcome of the Justice Department's challenge to Hewlett Packard Enterprise's proposed $14 billion acquisition of Juniper Networks will likely hinge on several key issues, including market dynamics and shares, internal documents, and questions about innovation and customer harm, say attorneys at McDermott.
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5 Merger Deal Considerations In Light Of The New HSR Rules
Now that the new Hart-Scott-Rodino Act rules are in effect, current priorities include earlier preparation for merging parties, certain confidentiality covenants, and key elements of letters of intent and term sheets, say attorneys at Fried Frank.
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What FERC Scrutiny Of Directors, Assets Means For Investors
The Federal Energy Regulatory Commission has recently paid dramatically increased attention to appointments of power company directors by investors, and ownership of vertical assets that provide inputs for electric power production and sale — so investors in FERC-regulated entities should be paying more attention to these matters as well, say attorneys at Day Pitney.
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Opinion
Antitrust Analysis In Iowa Pathologist Case Misses The Mark
An Iowa federal court erred in its recent decision in Goldfinch Laboratory v. Iowa Pathology Associates by focusing exclusively on market impacts and sidestepping key questions that should be central to antitrust standing analysis, says Daniel Graulich at Baker McKenzie.
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Anticipating Calif. Oversight Of PE Participation In Healthcare
A new bill recently introduced in the California Senate revives last year's attempt to increase oversight of healthcare transactions involving private equity groups and hedge funds, meaning that attorneys may soon need to assess the compliance status of existing management relationships and consider modifying contract terms, says Andrew Demetriou at Husch Blackwell.
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When Reincorporation Out Of Del. Isn't A Good Idea
While recent high-profile corporate moves out of Delaware have prompted discussion about the benefits of incorporation elsewhere, for many, remaining in the First State may be the right decision due to its deep body of business law, tradition of nonjury trials and other factors, say attorneys at Goodwin.
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New HSR Rules Augur A Deeper Antitrust Review By Agencies
After some initial uncertainty, the new Hart-Scott-Rodino Act rules did go into effect last month, and though their increased information requirements create greater initial burdens for merging parties, the rules should lead to greater certainty and predictability through a more efficient and effective review process, says Craig Malam at Edgeworth Economics.
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Why Acquirers Should Reevaluate Federal Contract Risk
Long thought of as a stable investment, the scale with which the Trump administration is attempting to eliminate federal contracts is unprecedented, and acquirer considerations should include the size and scope of all active and pending government contracts of target companies, say attorneys at Winston & Strawn.
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Opinion
SEC Defense Bar Should Pursue Sanctions Flexibility Now
The U.S. Securities and Exchange Commission defense bar has an opening under the new administration to propose flexible, tailored sanctions that can substantially remediate misconduct and prevent future wrongdoing instead of onerous penalties, which could set sanctions precedent for years to come, says Josh Hess at BCLP.
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7 Tips For Associates To Thrive In Hybrid Work Environments
Excerpt from Practical Guidance
As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.
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Series
Playing Beach Volleyball Makes Me A Better Lawyer
My commitment to beach volleyball has become integral to my performance as an attorney, with the sport continually reminding me that teamwork, perseverance, professionalism and stress management are essential to both undertakings, says Amy Drushal at Trenam.