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Mergers & Acquisitions
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May 30, 2025
Del. Court Orders Some Doc Access In Sports Collectable Suit
Delaware's senior Court of Chancery magistrate has ordered the director of Collectable Sports Assets LLC to provide more documents about the venture to a member investigating his personal value and stake in the business, while limiting some broader demands.
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May 30, 2025
Wachtell, Akin Steer EOG On $5.6B Energy Deal
Wachtell Lipton Rosen & Katz and Akin Gump Strauss Hauer & Feld are advising EOG Resources Inc. on an agreement to acquire Encino Acquisition Partners from the Canada Pension Plan Investment Board for $5.6 billion including debt, EOG said on Friday.
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May 30, 2025
Modine Buys Specialty Heating Business For $112M
Thermal management technology company Modine, advised by Godfrey & Khan, on Friday announced plans to acquire specialty heating solutions company L.B. White in a $112 million deal.
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May 30, 2025
REIT Investors' $12M Deal Over NexPoint Merger Get Final OK
A New York federal judge granted final approval to a $12 million securities class action settlement reached with Jernigan Capital investors who alleged the defendants omitted material information amid a 2020 sale to NexPoint Advisors, and awarded $3.9 million in fees Thursday to lead counsel for prosecuting the case.
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May 30, 2025
Taxation With Representation: Kirkland, Cravath, Latham
In this week's Taxation With Representation, WiseTech completes a $2.1 billion merger with E2open, Acrisure buys a payroll management company for $1.1 billion and Hailey Bieber sells her Rhode skincare and makeup company to e.l.f. beauty for $1 billion.
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May 30, 2025
Strathcona Lobs $4.3B Offer For MEG, Snags PE Investment
North American oil producer Strathcona Resources Ltd. on Friday launched an unsolicited takeover offer to acquire Canadian thermal oil producer MEG Energy Corp. in a cash-and-stock deal, while simultaneously announcing a $662 million investment from Waterous Energy Fund in connection with the transaction.
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May 30, 2025
UK Clears $3.1B SES-Intelsat Satellites Biz Merger Plan
The Competition and Markets Authority has given the green light to the proposed $3.1 billion takeover by SES SA, a communications satellite operator based in Luxembourg, of its local rival Intelsat Holdings Sàrl.
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May 30, 2025
National Grid Completes $1.7B Sale Of Green Biz To Brookfield
Energy network National Grid PLC said Friday that it has completed the sale of its renewables business to a Canadian firm, Brookfield Asset Management, and its institutional partners in a deal worth an estimated $1.74 billion.
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May 29, 2025
NYC Tour Bus Co. Asks Judge To Rethink Nixing Antitrust Suit
A New York City tour bus operator is once again in the position of trying to convince a federal court to revive the antitrust claims it has brought against several rivals, after a New York federal judge dismissed the second lawsuit the company has filed related to the same dispute.
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May 29, 2025
Alston & Bird, Smith Mackinnon Steer $710M Fla. Bank Deal
The holding company for Seacoast National Bank said Thursday that it would acquire Villages Bancorporation Inc., the holding company of Citizens First Bank based in The Villages, Florida, for approximately $710 million in a deal guided by Alston & Bird LLP and Smith Mackinnon PA.
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May 29, 2025
Simpson Thacher, Skadden, Mayer Brown Guide $4B Rail Deal
Wells Fargo, represented by Simpson Thacher & Bartlett LLP, unveiled Thursday a $4.4 billion deal to sell its rail assets to a joint venture formed between Mayer Brown LLP-led GATX and Brookfield Infrastructure Partners, which is advised by Skadden Arps Slate Meagher & Flom LLP.
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May 29, 2025
Delaware Justices Asked To Review Corporate Law Rework
A biopharmaceutical company stockholder has sought direct certification of a derivative suit to Delaware's Supreme Court, asking for state constitutional review of legislation approved in March that limits avenues for challenges to some corporate acts.
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May 29, 2025
JetBlue Fights American's NEA Suit, Pivots To United Deal
JetBlue has told a Texas federal judge that American Airlines' lawsuit seeking to recover $1 million in alleged unpaid payments related to their now-scrapped codeshare agreement covering New York and Boston is preempted by federal law and potentially conflicts with a Massachusetts federal judge's antitrust ruling.
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May 29, 2025
$45M Settlement, $9.65M Fee OK'd In Del. Cornerstone Suit
Stockholders who challenged Clayton Dubilier & Rice LLC's $5.8 billion take-private deal for Cornerstone Building Brands in 2022 secured a $45 million settlement Thursday, in a case that once saw a Delaware vice chancellor blast as "farcical" the two companies' early, alleged attempts to camouflage price negotiations to get around a standstill agreement.
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May 29, 2025
Seyfarth Adds Greenspoon Marder Corporate Atty In LA
Seyfarth Shaw LLP is expanding its West Coast team, bringing in a former Greenspoon Marder LLP transactional attorney as a partner in its Los Angeles office in Century City.
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May 29, 2025
Javice Request To Sink Guilty Verdict Turned Aside By Judge
A Manhattan federal judge declined on Thursday to toss a verdict convicting Frank founder Charlie Javice of tricking JPMorgan Chase into buying the student aid startup for $175 million, saying he properly declined to sever her trial from that of her co-defendant.
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May 29, 2025
Japan's NTT Docomo Launches Offer Valuing Bank At $5.1B
NTT Docomo, the mobile unit of Japanese telecom giant Nippon Telegraph & Telephone, on Thursday announced a tender offer to acquire shares of SBI Sumishin Net Bank Ltd., valuing the online bank at approximately 739 billion yen ($5.1 billion).
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May 29, 2025
Grammarly Secures $1B To Expand Reach, Boost AI Platform
Writing assistance tool provider Grammarly on Thursday revealed it had received a $1 billion investment from private equity shop General Catalyst, which will be used to help boost sales and marketing as well as extend the reach of its new artificial intelligence productivity platform.
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May 29, 2025
Shein Eyes HK Listing After London Snag, Plus More Rumors
Fast-fashion retailer Shein intends to list in Hong Kong after its plans to go public in London fell apart, messaging app Telegram is set to raised $1.7 billion through an upsized bond offering, while Elon Musk's Neuralink Corp. raised $600 million in a deal that values the brain-implant startup at $9 billion.
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May 29, 2025
Shell To Boost Stake In Nigerian Oilfield With $510M Deal
Energy giant Shell PLC said Thursday that a subsidiary has agreed to pay $510 million to acquire an extra 12.5% stake in an oilfield off Nigeria's coast from a subsidiary of French rival TotalEnergies SE.
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May 28, 2025
Del. Justices Won't Revive Raytheon Incentive Plan Suit
Delaware's highest court on Wednesday declined to revive a derivative suit accusing Raytheon Technologies Corp. directors of wrongly allowing a special committee to change an employee pension plan without stockholder approval, citing no support for alleged bylaw breaches or need for a stockholder vote.
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May 28, 2025
3 Firms Guide Hailey Bieber's $1B Sale Of Rhode To Elf Beauty
e.l.f. Beauty announced Wednesday that it has signed a deal to acquire Hailey Bieber's skincare and makeup company, Rhode, for around $1 billion, with law firms Latham & Watkins LLP, Skadden Arps Slate Meagher & Flom LLP and Cravath Swaine & Moore LLP advising the various parties.
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May 28, 2025
FTC Orders Divestitures Before $35B Synopsys-Ansys Merger
The Federal Trade Commission said Wednesday that software companies Synopsys and Ansys will be required to divest certain assets, including Synopsys' optical software tools and Ansys' power consumption analysis tool, in order to move forward with their planned $35 billion merger.
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May 28, 2025
3 Firms Guide Acrisure On $1.1B Global Payments Unit Buy
Fintech company Acrisure said Wednesday it has agreed to acquire Heartland Payroll Solutions, the payroll and human capital management unit of Global Payments Inc., for $1.1 billion in cash, with three law firms providing legal counsel to Acrisure.
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May 28, 2025
DOJ Gets Some Discovery Seeking HPE-Juniper Witness Bias
A California federal magistrate judge granted the U.S. Department of Justice only limited discovery Tuesday as it looks for potential "bias" from an industry analyst Hewlett Packard Enterprise may call in defense of its planned $14 billion purchase of Juniper Networks Inc.
Expert Analysis
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Opinion
Lawsuits Shouldn't Be Shadow Assets For Foreign Capital
Third-party litigation financing amplifies inefficiencies from litigation and facilitates national exposure to foreign influence in the U.S. justice system, so full disclosure of financing arrangements should be required as a matter of institutional integrity, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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2 Del. Rulings Reinforce Proof Needed For Records Demands
Two recent Delaware Court of Chancery decisions involving Amazon and Paramount Global illustrate the significance of the credible basis standard on books and records requests, underscoring that stockholders seeking to investigate wrongdoing must come forward with actual evidence of misconduct — not mere allegations, say attorneys at Cleary.
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How To Accelerate Your Post-Attorney Career Transition
Professionals seeking to transition to nonattorney careers may encounter skepticism as nontraditional candidates, but there are opportunities for thought leadership and to leverage speaking and writing to accelerate a post-attorney career transition, say Janet Falk at Falk Communications and Evgeny Efremkin at Toronto Metropolitan University.
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Key Takeaways From The 2025 Spring Antitrust Meeting
Leadership changes, shifting priorities and evolving enforcement tools dominated the conversation at the recent American Bar Association Spring Antitrust Meeting, as panelists explored competition policy under a second Trump administration, agency discretion under the 2023 merger guidelines and new frontiers in conduct enforcement, say attorneys at Freshfields.
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How Tariffs May Affect Proxy Contests This Season
While global tariffs imposed by the Trump administration will certainly chill at least some activity this proxy season, and make defending contests significantly easier, there will likely be many new activist investments once there is more economic certainty, meaning more proxy fights this fall, say attorneys at Sidley.
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A Closer Look At New NYSE, Nasdaq Listing Rule Changes
The U.S. Securities and Exchange Commission has recently approved changes to the New York Stock Exchange's and the Nasdaq's listing rules on reverse stock splits, minimum share price requirements and required liquidity for initial listings, meaning listed companies facing delisting will have fewer means to regain compliance, say attorneys at Cahill Gordon.
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Series
Law School's Missed Lessons: Be An Indispensable Associate
While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.
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23andMe Case Highlights Privacy Complexities In Ch. 11
Attorneys at Pryor Cashman discuss the interplay between a sale of personally identifiable information and bankruptcy law in light of genetics and health company 23andMe's recent filing for Chapter 11 relief.
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SEC Confidential Review Process Provides Issuers Flexibility
The U.S. Securities and Exchange Commission's recently announced enhancements to the process for confidentially submitting draft registration statements will be immediately impactful for issuers seeking to access the public capital markets, and should provide more grounds to explore and plan public offerings, say attorneys at Lowenstein Sandler.
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Series
Birding Makes Me A Better Lawyer
Observing and documenting birds in their natural habitats fosters patience, sharpens observational skills and provides moments of pure wonder — qualities that foster personal growth and enrich my legal career, says Allison Raley at Arnall Golden.
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How Del. Law Rework Limits Corporate Records Requests
Newly enacted amendments to a section of the Delaware General Corporation Law that allows stockholders and beneficial owners to demand inspection of Delaware corporations' books and records likely curtails the scope of such inspections and aids defendants in framing motions to dismiss at the pleading stage, says Jonathan Richman at Brown Rudnick.
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Series
Adapting To Private Practice: From DOJ Leadership To BigLaw
The move from government service to private practice can feel like changing one’s identity, but as someone who has left the U.S. Department of Justice twice, I’ve learned that a successful transition requires patience, effort and the realization that the rewards of practicing law don’t come from one particular position, says Richard Donoghue at Pillsbury.
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Issues To Watch At ABA's Antitrust Spring Meeting
Attorneys at Freshfields consider the future of antitrust law and competition enforcement amid agency leadership changes and other emerging developments likely to dominate discussion at the American Bar Association's Antitrust Spring Meeting this week.
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Law Firm Executive Orders Create A Legal Ethics Minefield
Recent executive orders targeting BigLaw firms create ethical dilemmas — and raise the specter of civil or criminal liability — for the government attorneys tasked with implementing them and for the law firms that choose to make agreements with the administration, say attorneys at Buchalter.
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Firms Must Embrace Alternative Billing Models Or Fall Behind
As artificial intelligence tools eliminate inefficiencies and the Big Four accounting firms enter the legal market, law firms that pivot from the entrenched billable hour model to outcomes-based pricing will see a distinct competitive advantage, says attorney William Brewer.