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Mergers & Acquisitions
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June 03, 2025
Wachtell-Led Viper Energy Paying $4.1B For Sitio Royalties
Viper Energy Inc. said Tuesday it will purchase mineral and royalty interests investment firm Sitio Royalties Corp. for approximately $4.1 billion, including net debt of approximately $1.1 billion, in a deal steered by Wachtell Lipton Rosen & Katz and Vinson & Elkins LLP.
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June 02, 2025
Crowell & Moring Opens In Boston With Faber Daeufer Tie-Up
Crowell & Moring LLP and Faber Daeufer & Itrato PC announced Tuesday they have combined, allowing Crowell & Moring to open an office in Boston that builds on Faber Daeufer's strong presence in the city's life sciences community.
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June 02, 2025
23andMe Founder Pushes Alternative Ch. 11 Sale
The founder of 23andMe has urged a Missouri bankruptcy court to revisit the $256 million sale of the company's assets to Regeneron, saying she has a better bid backed by an unnamed corporation.
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June 02, 2025
Monthly Merger Review Snapshot
The Federal Trade Commission finally dropped its long-pending challenge of Microsoft's purchase of video game developer Activision Blizzard, as enforcers pushed monopolization cases seeking to break up Google, Meta and Live Nation, while also pursuing several traditional merger cases. Here, Law360 looks at the major merger review developments from May.
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June 02, 2025
DOJ Deal OKs $1.5B Keysight-Spirent Network Testing Merger
The U.S. Department of Justice cut its first merger clearance deal of the Trump administration, and nearly its first settlement since a Biden-era hardline stance against most agreements, with a consent decree Monday allowing Keysight Technologies Inc. to proceed with its planned $1.5 billion acquisition of Spirent Communications PLC.
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June 02, 2025
Bracewell-Led Cactus Paying $345M For Baker Hughes Stake
Houston-based oilfield equipment maker Cactus Inc. said Monday that it has agreed to acquire a 65% stake in Baker Hughes' surface pressure control business for $344.5 million, bolstering its foothold in the Middle East.
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June 02, 2025
Justices' Rail Order Irrelevant To Merger Row, DC Circ. Told
Chicago suburbs challenging federal approval of Canadian Pacific's merger with Kansas City Southern urged the D.C. Circuit on Monday to pay no heed to the U.S. Supreme Court decision restricting government environmental reviews, arguing their own case challenges "other" deficiencies in addition to a failed consideration of broader climate impacts.
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June 02, 2025
4 Mass. Rulings You May Have Missed In May
Massachusetts judges grappled with accusations of fraud in the sale of a struggling life sciences company and gave the benefit of the doubt to a vendor who allegedly sold the state gallons of ineffective hand sanitizer, among other notable rulings last month.
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June 02, 2025
Paul Weiss-Led Roark Closes $1B Dave's Hot Chicken Buy
Paul Weiss said Monday it is representing Roark Capital on its acquisition of Dave's Hot Chicken at an approximately $1 billion value, as the fried chicken chain cashes in after an eight-year journey that was said to have started in a parking lot with some portable fryers.
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June 02, 2025
Fintech Startup Chime Eyes $800M IPO As Circle Ups Offering
Fintech startup Chime Financial Inc. on Monday launched plans for an estimated $800 million initial public offering, while stablecoin issuer Circle Internet Financial Inc. increased its expected IPO size to about $880 million, boosting a recovering IPO pipeline.
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June 02, 2025
Report Finds Del. Court Jumbo Fees Rival Federal System
Delaware's corporation law courts have overshadowed the entire federal court system for some class attorney fees based on multiples of usual rate benchmarks, according to two Stanford Law School researchers whose findings have already caught the attention of a top state lawmaker.
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June 02, 2025
Foley & Lardner Opens In Nashville With 3 Holland & Knight Attys
Foley & Lardner LLP has chosen Nashville as the location for its 27th office worldwide, bringing on three attorneys who had been at Holland & Knight LLP to work on regulatory, tax and transactional matters, the firm announced Monday.
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June 02, 2025
KKR Plugs $600M Into Indian Medical Conglomerate
Private equity giant KKR on Monday announced that it has invested $600 million into Indian medical conglomerate Manipal Education and Medical Group.
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June 02, 2025
Ashurst, King & Wood Guide $9.1B Soul Patts Merger Plan
Washington H. Soul Pattinson and Co. Ltd. and building products maker Brickworks Ltd. plan to merge into a company with a market capitalization of AU$14 billion ($9.1 billion), aiming to eliminate a decades-old cross-shareholding structure and create a unified entity, the Australian investment firm disclosed on Monday.
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June 02, 2025
Rosebank Revives $1.9B Deal For US Electricity Supplier
Rosebank said Monday that it has agreed to acquire Electrical Components International for "less than $1.9 billion" from investment firm Cerberus Capital, months after walking away from a deal to buy the electrical distribution systems company.
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June 02, 2025
Antares Clinches $1.2B Continuation Fund Led By Ares
Private credit solutions manager Antares Capital, advised by Proskauer Rose LLP, announced on Monday that it wrapped its inaugural continuation vehicle with over $1.2 billion in commitments, in a transaction led by Cleary Gottlieb Steen & Hamilton LLP-advised private equity giant Ares Management Corp.
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June 02, 2025
Weil-Led Sanofi To Buy US Drugmaker For Up To $9.5B
Sanofi said Monday it has agreed to acquire its U.S. rival Blueprint Medicines Corp. for a maximum of $9.5 billion, as the French drugmaker moves to bolster its immunology portfolio with three promising treatments.
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May 30, 2025
Meta Looks To Nix FTC's Lead Econ Expert After Antitrust Trial
Meta Platforms asked a D.C. federal judge Friday to strike testimony the Federal Trade Commission's lead economics expert gave during a bench trial in the antitrust case over Meta's purchase of Instagram and WhatsApp, saying the "biased witness" — a New York University School of Law professor — "advocated" for the case.
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May 30, 2025
Governor Wants Input If Dropbox Challenge Is Appealed
Delaware's governor wants to weigh in on a potential Delaware Supreme Court midcase review of a controversial state corporation law overhaul that limits the liability of directors and controlling investors for allegedly self-interested corporate acts.
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May 30, 2025
Google Must Turn Over Docs About Potential Ad Tech Breakup
A Virginia federal court granted a request from government agencies on Friday for internal Google LLC reports analyzing a potential breakup of its ad tech business, as the sides ready for a September trial to determine what remedies to impose on Google for monopolizing key ad tech markets.
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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.
Expert Analysis
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How Law Firms Can Counteract The Loneliness Epidemic
The legal industry is facing an urgent epidemic of loneliness, affecting lawyer well-being, productivity, retention and profitability, and law firm leaders should take concrete steps to encourage the development of genuine workplace connections, says Michelle Gomez at Littler and Gwen Mellor Romans at Herald Talent.
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Opinion
DOJ's HPE-Juniper Challenge Is Not Rooted In Law
Legal precedents that date back as far as 1990 demonstrate that the U.S. Department of Justice's recent challenge to the proposed $14 billion merger between Hewlett Packard and Juniper is misplaced because no evidence of collusion or coordinated conduct exists, says Thomas Stratmann at George Mason University.
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5 Keys To Building Stronger Attorney-Client Relationships
Attorneys are often focused on being seen as the expert, but bonding with clients and prospects by sharing a few key personal details provides the basis for a caring, trusted and profoundly deeper business relationship, says Deb Feder at Feder Development.
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How Rising Secondary Private Markets Affect Tech Disputes
The rise of secondaries is a natural by-product of growing and evolving private markets and, as such, we can expect their growth will continue, signaling an increase in the use of secondaries in damages as well as litigation revolving around secondaries themselves, says Farooq Javed at The Brattle Group.
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How The AI Antitrust Landscape Might Evolve Under Trump
The Trump administration's early actions around artificial intelligence and antitrust policy, along with statements from competition regulators, suggest that the AI competition landscape may see reduced scrutiny around acquisitions, but not an entirely hands-off enforcement approach, say attorneys at Hogan Lovells.
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Series
Racing Corvettes Makes Me A Better Lawyer
The skills I use when racing Corvettes have enhanced my legal practice in several ways, because driving, like practicing law, requires precision, awareness and a good set of brakes — complete with the wisdom to know how and when to use them, says Kat Mateo at Olshan Frome.
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Bill Would Bring Welcome Clarity To Del. Corporate Law
A recently proposed bill in Delaware that would provide greater predictability for areas including director independence and controlling stockholders reflects prudential adjustments consistent with the state's long history of refining and modernizing its corporate law, say attorneys at Simpson Thacher.
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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.