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Mergers & Acquisitions
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May 09, 2025
Chancery Rejects Shareholder Challenge To Fidelity Spinoff
Observing that related-party company deals with controllers "are not inherently wrongful," a Delaware vice chancellor on Friday scuttled a pension fund suit challenging a $250 million Fidelity National Financial Inc. investment in a spun-off but still controlled former subsidiary.
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May 09, 2025
A Look At David Souter's Most Significant Opinions
The retired Justice David Souter defied simple definition, viewed as a staunch conservative until he co-wrote an opinion upholding abortion rights in 1992. He did not hew to partisan lines, but reshaped the civil litigation landscape and took an unexpected stand in an extraordinarily close presidential election.
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May 09, 2025
Justice Souter Was An Unexpected Force Of Moderation
Justice David Souter, who saw the high court as a moderating force apart from the messiness of politics, subverted the expectations of liberals and conservatives alike during his 19 years on the bench.
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May 09, 2025
Taxation With Representation: Paul Weiss, Weil, V&E, Torys
In this week's Taxation With Representation, 3G Capital takes Skechers private, Sunoco LP buys Parkland Corp., and BCE Inc. and the Public Sector Pension Investment Board launch a wholesale network provider called Network FiberCo.
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May 09, 2025
Copenhagen Infrastructure Plugs $500M Into JV With BKV
Denver-based energy company BKV Corp., led by BakerHostetler, and Kirkland & Ellis LLP-advised energy infrastructure investor Copenhagen Infrastructure Partners have teamed up on a joint venture that sees Copenhagen Infrastructure committing $500 million to be used to design, construct and operate carbon capture, utilization and sequestration projects in the U.S.
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May 09, 2025
Foley & Lardner Adds Partners In Chicago From Norton Rose
Foley & Lardner LLP has hired two former Norton Rose Fulbright partners for its practices in intellectual property, technology transactions, cybersecurity and privacy.
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May 09, 2025
Government IT Contractor Gets OK For June Ch. 11 Auction
A New York bankruptcy judge on Friday gave government information technology contractor Sysorex Government Services permission for a June auction of its business over the objections of the U.S. Trustee's Office, which is arguing the case is being heard in the wrong venue.
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May 09, 2025
Delta, Korean Air To Buy 25% Of Canadian Airline For $550M
Delta Air and Korean Air said on Friday that they have agreed to acquire a minority stake in Canadian airline WestJet for $550 million, a portion of which will be sold on to Air France-KLM.
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May 09, 2025
Massumi & Consoli Brings On Gibson Dunn M&A Pro In LA
Massumi & Consoli LLP is expanding its transactions team, bringing in a Gibson Dunn & Crutcher LLP mergers and acquisitions expert as a partner in its Los Angeles office.
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May 09, 2025
Activist Ends Battle With Lyft By Withdrawing Director Noms
Activist investor and Lyft shareholder Engine Capital LP on Friday said it's withdrawing its nomination of candidates to stand for election to the ride-hailing company's board of directors at the upcoming annual meeting, saying Lyft's board has taken "an important first step" by agreeing to "significant" share repurchases in the upcoming quarters.
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May 09, 2025
Retired Supreme Court Justice David Souter Dies At 85
Retired Justice David H. Souter, who served on the U.S. Supreme Court from 1990 to 2009, has died at 85, the court announced Friday.
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May 08, 2025
OCC Axes Biden-Era Bank Merger Rule In Latest Reversal
The Office of the Comptroller of the Currency moved Thursday to roll back a Biden-era rule intended to dial up its scrutiny of proposed bank mergers, a reversal that comes amid a parallel repeal effort by Republicans in Congress.
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May 08, 2025
Instagram Head Says App 'Blends' Friends And Entertainment
The head of Instagram didn't shy away Thursday from Federal Trade Commission arguments about how Meta functions as a social media platform, testifying in D.C. federal court that sharing with friends and family is a key function, but part of a blended approach also focused on entertainment.
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May 08, 2025
PSP Investments, BCE To Form New Fiber Biz With $1.5B Plug
Canadian communications company BCE Inc., led by Skadden Arps Slate Meagher & Flom LLP, and Simpson Thacher & Bartlett LLP-advised Public Sector Pension Investment Board on Thursday revealed their plans to form a strategic partnership and jointly launch a new wholesale network provider called Network FiberCo.
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May 08, 2025
Ticketmaster Asks Justices To Protect 'Alternative' Arbitration
Live Nation and Ticketmaster have asked the U.S. Supreme Court to clarify whether a federal law requires courts to enforce only traditional arbitration arrangements Congress envisioned when the law was enacted a century ago, or also "alternative" agreements drafted more recently to process mass arbitration.
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May 08, 2025
Honest Co. IPO Investors Get Initial OK For $27.5M Settlement
Investors in actress Jessica Alba's "clean lifestyle" brand The Honest Co. Inc. have gotten an initial nod for their $27.5 million deal to end claims the company failed to disclose negative trends ahead of its 2021 initial public offering.
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May 08, 2025
Musk Objects To New Job For SEC's Former Litigation Chief
Elon Musk is opposing a move by plaintiff-side firm Bernstein Litowitz Berger & Grossmann LLP to hire the U.S. Securities and Exchange Commission's former chief litigation counsel, arguing in a court filing that the lawyer "played a personal and substantial role" in suing Musk while at the SEC.
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May 08, 2025
Biotech Tells Chancery Drug Co. Abused Merger Prospects
Biotech venture Renovaro Inc. sued cancer-focused, artificial intelligence-assisted drug developer Predictive Oncology Inc. in Delaware's Court of Chancery on Thursday, accusing Predictive of walking away from a merger agreement after its standalone prospects improved upon announcement of the deal.
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May 08, 2025
Wilson Sonsini M&A Ace Moves To Cooley In Silicon Valley
Cooley LLP is growing its transactions team, announcing Thursday that it is bringing in a Wilson Sonsini Goodrich & Rosati PC mergers and acquisitions pro as a partner in its Silicon Valley office in Palo Alto, California.
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May 08, 2025
Nestle Eyes Potential $5B Water Unit Sale, And Other Reports
Nestle is planning to break off a piece of its business to focus, fittingly, on top-performing brands like Kit Kat and Nescafe, as it weighs a potential sale of its sparkling water-led unit at a $5.6 billion value, according to a Reuters report Thursday.
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May 08, 2025
Seyfarth Appoints Two Corporate Practice Leaders
Seyfarth Shaw LLP announced on Thursday the appointment of Steven Richman as chair of the firm's institutional investor practice and Aaron Gillett as vice chair of its mergers and acquisitions practice.
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May 08, 2025
Mercer Advisors Nabs Tufton Capital, Adding $3B In Assets
Mercer Global Advisors on Thursday revealed plans to acquire Tufton Capital Management LLC, guided by Nemphos Braue LLC, and to create a combined business with roughly $3 billion in client assets in the Washington D.C. market.
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May 08, 2025
Simpson Thacher-Led Corsair Closes $600M Fund
Simpson Thacher & Bartlett LLP-advised Corsair Capital on Thursday announced it had closed its inaugural multi-asset continuation vehicle and secondary fund with a combined $600 million in tow.
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May 08, 2025
Coinbase Buying Crypto Options Firm Deribit For $2.9B
Coinbase said Thursday it has agreed to acquire crypto options exchange Deribit in a $2.9 billion cash-and-stock deal, bolstering its derivatives business and positioning it as the top global platform for crypto options and futures trading.
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May 08, 2025
EU Moves To Revamp 20-Year-Old Merger Control Rules
The European Commission called on Thursday for responses to plans to overhaul its 20-year-old merger control rules as it seeks to give weight to innovation, sustainability and security needs when it assesses deals taking place between competitors in the bloc.
Expert Analysis
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Opinion
Attorneys Must Act Now To Protect Judicial Independence
Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and resist attempts to dilute the judicial branch’s authority, says attorney Bhavleen Sabharwal.
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Rethinking 'No Comment' For Clients Facing Public Crises
“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
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Del. Supreme Court TripAdvisor Ruling May Limit 'MFW Creep'
The Delaware Supreme Court's recent Maffei v. Palkon ruling regarding TripAdvisor's proposed reincorporation to Nevada potentially signals a turning point in the trend of expanding the protections from Kahn v. M&F Worldwide to other types of transactions, says Andrew J. Haile at Elon University.
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Antitrust In Retail: Rude Awakening For FTC In Tempur Sealy
A Texas federal court's recent denial of a Federal Trade Commision order to stop a giant mattress merger because of lack of evidence on market segments shows that such definitions are only a viable path for regulating vertical mergers if antitrust agencies provide adequate documentation, says David Kully at Holland & Knight.
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How Design Thinking Can Help Lawyers Find Purpose In Work
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.
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Opinion
US Steel-Nippon Merger Should Not Have Been Blocked
The Biden administration's block of the U.S. Steel and Nippon Steel merger on national security grounds was unconstitutional overreach and needs to be overturned, with the harms remedied in federal court, says attorney Chuck Meyer.
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Biden-Era M&A Data Shows Continuity, Not Revolution
While the federal antitrust agencies under former President Joe Biden made broad claims about increasing merger enforcement activity, the data tells a different story, with key claims under Biden coming in at the lowest levels in decades, say attorneys at Covington.
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What Travis Hill's Vision For FDIC Could Portend For Banks
If selected to lead the Federal Deposit Insurance Corp. in a permanent capacity, acting Chairman Travis Hill is likely to prioritize removing barriers to innovation and institution-level growth, emphasizing the idea that eliminating rules, relaxing standards and reducing scrutiny will reinvigorate the industry, say attorneys at Mitchell Sandler.
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Exploring China's 1st Administrative Merger Control Ruling
As the first judicial ruling in China's merger control regime, the Beijing Intellectual Property Court's recent upholding of Simcere's acquisition of Tobishi helps to clarify how the Chinese antitrust authority and court assess remedies, say attorneys at Tian Yuan Law Firm.
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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.