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Mergers & Acquisitions
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June 13, 2025
France's BPCE To Buy Novo Banco In €6.4B Deal
France's second-largest banking group BPCE said Friday that it will buy U.S. private equity shop Lone Star Fund's 75% stake in Novo Banco SA in a deal that values the Portuguese bank at €6.4 billion ($7.4 billion).
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June 12, 2025
23andMe Ombudsman Not Confident Sale Is Lawful
The privacy expert probing 23andMe's proposed sale of customers' genetic data in bankruptcy told a Missouri federal judge Wednesday that he couldn't determine the deal wouldn't violate state privacy laws and recommended the company be required to obtain consent from its customers before handing over the data.
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June 12, 2025
Live Nation Defending 'Unfair' Arbitration, Justices Told
Concertgoers suing Live Nation over allegedly anticompetitive conduct urged the U.S. Supreme Court on Thursday not to take up the company's bid to force them into arbitration, arguing that lower courts rightly dinged a switch to a new arbitrator with strict rules meant to limit mass arbitration tactics by the plaintiffs' bar.
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June 12, 2025
Senate GOP Moves To Confirm Trump's FCC Nominee
The U.S. Senate plans next week to bring up President Donald Trump's nomination of Olivia Trusty to the Federal Communications Commission.
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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.
Expert Analysis
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Series
Competitive Weightlifting Makes Me A Better Lawyer
The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.
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Opinion
DOJ's Visa Suit Shows Pitfalls Of Regulating Innovative Tech
A policy of allowing free-market mechanisms to operate without undue interference remains the most effective way to foster innovation, and the U.S. Department of Justice's 2024 case against Visa illustrates the drawbacks of regulating innovative technology, says attorney Thomas Willcox.
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How New SBA Rule May Affect Small Government Contractors
By limiting competition from larger entities, the Small Business Administration's recently published final rule may help some small government contractors, but these restrictions on set-aside work following a merger, acquisition or sale may also deter small businesses' long-term growth, say attorneys at Akerman.
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Nippon Order Tests Gov't Control Over Foreign Investments
The U.S. government is primarily interested in restraining foreign transactions involving countries of concern, but former President Joe Biden’s January order blocking the merger of Nippon Steel and U.S. Steel shows that all foreign direct investments are under the federal government’s microscope, say attorneys at Blank Rome.
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Opinion
Inconsistent Injury-In-Fact Rules Hinder Federal Practice
A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.
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In-House Counsel Pointers For Preserving Atty-Client Privilege
Several recent rulings illustrate the challenges in-house counsel can face when attempting to preserve attorney-client privilege, but a few best practices can help safeguard communications and effectively assert the privilege in an increasingly scrutinized corporate environment, says Daniel Garrie at Law & Forensics.
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Series
Collecting Rare Books Makes Me A Better Lawyer
My collection of rare books includes several written or owned by prominent lawyers from early U.S. history, and immersing myself in their stories helps me feel a deeper connection to my legal practice and its purpose, says Douglas Brown at Manatt Health.
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Rethinking How To Engage Shareholders, Activists Via Proxies
This proxy season, companies should consider visually driven proxy statements that highlight the board's strengths, the alignment between executive compensation and performance, and a commitment to sustainability and risk management to earn the support of investors and fend off hostile acquirers, say Craig Clay and Ron Schneider at DFIN.
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Tips For Pharma-Biotech Overlap Reporting In New HSR Form
While there’s no secret recipe for reporting overlaps to the Federal Trade Commission in the new Hart-Scott-Rodino Act form, there are several layers of considerations for all pharma-biotech companies and counsel to reflect on internally before reporting on any deal, say attorneys at A&O Shearman.
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Opinion
Judge Should Not Have Been Reprimanded For Alito Essay
Senior U.S. District Judge Michael Ponsor's New York Times essay critiquing Supreme Court Justice Samuel Alito for potential ethical violations absolutely cannot be construed as conduct prejudicial to the administration of the business of the courts, says Ashley London at the Thomas R. Kline School of Law of Duquesne University.
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Lights, Camera, Ethics? TV Lawyers Tend To Set Bad Example
Though fictional movies and television shows portraying lawyers are fun to watch, Hollywood’s inaccurate depictions of legal ethics can desensitize attorneys to ethics violations and lead real-life clients to believe that good lawyers take a scorched-earth approach, says Nancy Rapoport at the University of Nevada, Las Vegas.
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Steel Cases Test Executive Authority, Judicial Scope
Lawsuits challenging former President Joe Biden’s order blocking the merger of Japan's Nippon Steel and U.S. Steel may shape how future administrations wield presidential authority over foreign investment in the name of national security, says Hdeel Abdelhady at MassPoint Legal.
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Del. Ruling Further Narrows Scope Of 'Bump-Up' Exclusion
The recent Delaware Superior Court ruling in Harman International v. Illinois National Insurance offers a critical framework for interpreting bump-up exclusions in management liability insurance policies, and follows the case law trend of narrow interpretation of such exclusions, says Simone Haugen at Tressler.
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Will 4th Time Be A Charm For NY's 21st Century Antitrust Act?
New York's recently introduced 21st Century Antitrust Act would change the landscape of antitrust enforcement in the state and probably result in a sharp increase in claims — but first, the bill needs to gain traction after three aborted attempts, says Tyler Ross at Shinder Cantor.
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Perspectives
Accountant-Owned Law Firms Could Blur Ethical Lines
KPMG’s recent application to open a legal practice in Arizona represents the first overture by an accounting firm to take advantage of the state’s relaxed law firm ownership rules, but enforcing and supervising the practice of law by nonattorneys could prove particularly challenging, says Seth Laver at Goldberg Segalla.