Mergers & Acquisitions

  • April 18, 2024

    Ex-Autonomy CEO Wanted Whistleblower Fired, Ex-GC Says

    Former Autonomy CEO Michael Lynch thought a finance department whistleblower was "trying to destroy the company" and wanted him fired, the software company's former U.S. general counsel testified Thursday in a criminal fraud trial over claims Lynch conned HP into buying the British company at an inflated price of $11.7 billion.

  • April 18, 2024

    Lack Of Process Delays CFIUS Enforcement, Watchdog Says

    The interagency committee tasked with ensuring that foreign investments do not jeopardize national security lacks a formal process for launching enforcement actions against companies that run afoul of their commitments, according to a watchdog report made public Thursday.

  • April 18, 2024

    EU Antitrust Chief Says Merger Tool Not A 'Power Grab'

    The European Commission's top competition enforcer said Thursday the agency has taken a measured approach to using its newly asserted power to review mergers that fall short of local thresholds, as the European trading bloc's high court mulls a challenge of that authority from DNA sequencing company Illumina.

  • April 18, 2024

    Lebanese Bank To Face Victims' Hezbollah Terrorism Suit

    New York's highest court ruled Thursday that an entity that acquires another entity's liabilities and assets inherits its status for purposes of personal jurisdiction even if there is no merger, greenlighting litigation targeting a Lebanese bank over its predecessor's alleged assistance to Hezbollah.

  • April 18, 2024

    T-Mobile, Others Rip 'Hodgepodge' Forced Store Closings Suit

    T-Mobile says it doesn't belong in a suit accusing it and another company of misleading store owners by promising it would open hundreds of new stores in the wake of its $26 billion merger with Sprint in 2020 only to turn around and shut the plaintiffs down.

  • April 18, 2024

    Investors In Failed Manila Casino Deal Sue For SPAC Shares

    Shareholders in a blank-check company that failed to take a Philippines casino public have intervened in two Delaware Chancery Court lawsuits to recoup their failed investments, with one seeking to litigate damages from the busted $2.6 billion deal and the other pushing for the company's liquidation.

  • April 18, 2024

    Coventry Building Society Makes £780M Offer For Co-Op Bank

    The Coventry Building Society is offering to buy the Co-operative Bank for £780 million ($970 million) in a move that comes after the two revealed in December that they were in exclusive talks to merge.

  • April 18, 2024

    23andMe Taps Dechert To Review CEO Buyout Proposal

    A special committee of genetic testing company 23andMe has engaged Dechert LLP as its legal adviser and Wells Fargo as its financial adviser as it looks to review an anticipated buyout offer from its co-founder and CEO Anne Wojcicki, according to a statement Thursday.

  • April 18, 2024

    Ariz. Coyotes Deactivated In Deal Giving Utah New NHL Team

    The National Hockey League's governing board on Thursday afternoon approved the transfer of the Arizona Coyotes franchise to the owners of the NBA's Utah Jazz and shuttered the Arizona team for now, according to a statement.

  • April 18, 2024

    Biotech Co. NanoString Lands $393M Bid At Ch. 11 Auction

    Scientific instrument maker Bruker Corp. is set to acquire insolvent biotechnology company NanoString for roughly $393 million in cash that would be used to repay creditors under the debtor's recently proposed Chapter 11 plan, a notice filed in Delaware's bankruptcy court shows.

  • April 18, 2024

    Deals Rumor Mill: Tapestry-Capri, StubHub IPO, Salesforce

    The FTC is preparing to sue to block Tapestry's $8.5 billion takeover of designer brands' owner Capri, StubHub is eyeing a summer IPO at an estimated $16.5 billion valuation, and Salesforce is making a play to acquire data-management software firm Informatica. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • April 18, 2024

    AGBA, Triller Combine To Form $4B Digital Content Co.

    Asia-based financial services company AGBA Group Holding and artificial intelligence-driven social video platform Triller Corp. on Thursday announced plans to merge in a deal that would create a combined entity valued at roughly $4 billion on a pro forma basis and will establish "new benchmarks" at the intersection of technology, finance and media.

  • April 18, 2024

    Crowell & Moring Adds Corporate Partners From Neal Gerber

    Crowell & Moring LLP has added two longtime partners and practice group leaders from Chicago-based firm Neal Gerber & Eisenberg LLP to help bolster its corporate, mergers and acquisitions and capital markets services and expand its services in the Windy City.

  • April 18, 2024

    Insurance Broker Jensten Builds £170M Acquisition War Chest

    Private equity-backed insurance broker Jensten Group said Thursday it has secured £170 million ($211 million) in funding for a series of planned acquisitions.

  • April 18, 2024

    Kirkland, Weil-Guided Apax To Buy HR Payroll Co. For €36M

    Investment group Apax Global Alpha Ltd. said Thursday that a fund it advises has agreed to buy Zellis UK Ltd., a prominent provider of payroll and HR software in the U.K. for approximately €36 million ($38.4 million), financed via one of its funds.

  • April 18, 2024

    Hipgnosis Agrees To $1.4B Takeover By US Rival Concord

    Concord Chorus has agreed to buy its British music royalties rival Hipgnosis Songs Fund in an all-cash transaction worth $1.4 billion, as the U.S. company looks to add 1.2 million more songs to its portfolio, the companies said in joint statement Thursday.

  • April 17, 2024

    Ex-JPMorgan Analyst Liked 'Winding Up' Autonomy CEO, Jury Told

    A former JPMorgan stock analyst testifying Wednesday in the criminal fraud trial of former Autonomy CEO Michael Lynch said that he "took pleasure in winding up Lynch" and once even used a Hitler analogy to describe his performance, but said his critical coverage was never personal.

  • April 17, 2024

    New TikTok Bill Gives More Time For Divestment

    A bill requiring ByteDance Ltd. to divest TikTok or face a ban in the U.S. was included in the package of national security bills House Republicans introduced on Wednesday, which gives a longer runway to sell the app than the one the House previously passed in March.

  • April 17, 2024

    RTX Investor Sues Brass In Del. For Better Antitrust Oversight

    A shareholder of RTX has sued the aerospace and defense giant's current and former officers and directors in Delaware's Court of Chancery, accusing them of failing over a period of at least eight years to prevent antitrust violations in the company's hiring practices.

  • April 17, 2024

    DC Judge Questions 7-Eleven Position On FTC Constraints

    A D.C. federal judge on Wednesday pressed counsel for 7-Eleven on the company's claims that only the U.S. attorney general can seek civil penalties on behalf of the Federal Trade Commission, questioning how the commission itself can be limited when the FTC Act gives it the right to take up actions if the U.S. Department of Justice does not.

  • April 17, 2024

    Don't Ignore Problematic Merger Docs, FTC Comp Chief Says

    The Federal Trade Commission's top antitrust enforcer urged merging parties Wednesday to be fully open and transparent with reviewing staffers, warning that trying to get enforcers to ignore potentially problematic material just makes their jobs more difficult.

  • April 17, 2024

    Karuna Investor Ends Suit After Bristol-Myers Seals $14B Deal

    A Karuna Therapeutics shareholder has dropped her proposed class action after Bristol-Myers Squibb Co. completed its $14 billion purchase of the biotechology company, a deal the suit alleged was brought about by misrepresentations to investors to gain their support.

  • April 17, 2024

    MoFo Advises Southwest Gas Carve-Out Centuri's $260M IPO

    Southwest Gas Holdings Inc.'s infrastructure services unit Centuri Holdings Inc. on Wednesday priced a $260.4 million initial public offering at the top of its range, enabling Centuri to become a standalone public company, represented by Morrison Foerster LLP and underwriters' counsel Skadden Arps Slate Meagher & Flom LLP.

  • April 17, 2024

    Lawmaker Says New Merger Guides Hurt Small Businesses

    The head of the House Small Business Committee has sent letters to the U.S. Department of Justice and Federal Trade Commission, contending enforcers did not fully consider how new merger guidelines will impact the small business community.

  • April 17, 2024

    Jury Says Caterpillar's Interference Cost Equipment Co. $100M

    A jury in Delaware has rejected antitrust claims against Caterpillar but found that the equipment maker caused a defunct importer $100 million in damages by interfering with its contract to sell equipment through an online sales platform.

Expert Analysis

  • How Advance Notice Bylaws Are Faring In Del. Courts

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    Recent decisions make it clear that the Delaware Chancery Court is carefully reviewing public companies' amended advance notice bylaws in order to balance the competing interests of boards and shareholders, and will likely strike down bylaws that improperly interfere with stockholder franchises, say attorneys at Olshan Frome.

  • How New EU Tax And Transfer Pricing Rules May Affect M&A

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    Companies involved in mergers and acquisitions may need to adjust fiscal due diligence procedures to ensure they consider potential far-reaching effects of newly implemented transfer pricing measures, such as newly implemented global minimum tax and European Union anti-tax avoidance directives and proposals, says Patrick Tijhuis at BDO.

  • Strategies For Single-Member Special Litigation Committees

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    The Delaware Supreme Court's recent order in the Baker Hughes derivative litigation allowing testimony from a single-member special litigation committee highlights the fact that, while single-member SLCs are subject to heightened scrutiny, they can also provide unique opportunities, says Josh Bloom at MoloLamken.

  • Lessons For D&O Policyholders From Pharma Co. Ruling

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    A California federal court's recent decision in AmTrust v. 180 Life Sciences, requiring insurers to advance defense costs for a potentially covered claim, provides a valuable road map for directors and officers insurance policyholders, rebutting the common presumption that a D&O insurer's duty to advance costs is more limited than under other policies, say attorneys at Pasich.

  • How Firms Can Ensure Associate Gender Parity Lasts

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    Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.

  • 7 Common Myths About Lateral Partner Moves

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    As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are flat out wrong, says Dave Maurer at Major Lindsey.

  • 5 Tips For Policyholders Arbitrating R&W Insurance Claims

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    With more representations and warranties insurance disputes being arbitrated, policyholder counsel should note issues that are unique to RWI claims, including those of privilege, priority and preserving subrogation, says Micah Skidmore at Haynes Boone. 

  • Series

    Cheering In The NFL Makes Me A Better Lawyer

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    Balancing my time between a BigLaw career and my role as an NFL cheerleader has taught me that pursuing your passions outside of work is not a distraction, but rather an opportunity to harness important skills that can positively affect how you approach work and view success in your career, says Rachel Schuster at Sheppard Mullin.

  • What To Know About OCC Proposals For Bank Merger Review

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    The Office of the Comptroller of the Currency's proposed changes to the agency's bank merger review process could exacerbate industry concerns with long and unpredictable processing periods because the proposal is ambiguous with respect to how the OCC will view certain transactions, say attorneys at Simpson Thacher.

  • 6 Pointers For Attys To Build Trust, Credibility On Social Media

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    In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.

  • 9 Considerations For Divestitures, Carveouts And Spinouts

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    Amid new economic optimism, data protection, transitional services and seven other considerations can help legal practitioners untangle complex divestitures, carveouts and spinouts to unlock value for corporate sellers, say Kimberly Petillo-Décossard and Kristen Rohr at White & Case.

  • A Post-Mortem Analysis Of Stroock's Demise

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    After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.

  • Mitigating The Risk Of Post-Closing M&A Earnout Disputes

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    Today's uncertain deal environment makes a well-crafted earnout an excellent way for parties to accomplish a desired transaction that would not otherwise occur, but transacting parties also need to take key steps to avoid the risk of post-closing disputes that earnouts can present, say Chad Barton and Claire Lydiard at Holland & Knight.

  • Planning For Stymied HSR Filings At FTC If Shutdown Occurs

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    If the government were to shut down in early March, the inability to submit Hart-Scott-Rodino filings with the Federal Trade Commission would grind transactions to a halt, and parties should consider numerous implications as they are negotiating or planning to close pending transactions, say attorneys at DLA Piper.

  • Texas Ruling Clarifies That Bankruptcy Shields LLC Rights

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    A Texas bankruptcy court’s recent ruling in In re: Envision makes it clear that the Bankruptcy Code preempts a section of Delaware state law that terminates a member’s interest in an LLC upon a bankruptcy filing, clarifying conflicting case law, say Larry Halperin and Joon Hong at Chapman and Cutler.

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