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Mergers & Acquisitions
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May 22, 2025
Sanofi To Acquire Goodwin-Led US Biotech Biz For $470M
Drugmaker Sanofi said Thursday that it has agreed to acquire Vigil Neuroscience, a biotechnology company specializing in neurodegenerative diseases, for approximately $470 million to give it a potential new medicine for Alzheimer's disease in a deal guided by Goodwin Procter.
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May 22, 2025
Latham Leads Honeywell In £1.8B UK Catalyst Tech Biz Buy
Honeywell International Inc. said Thursday it has agreed to acquire the catalyst technologies arm of Johnson Matthey PLC, a U.K. chemicals company, for £1.8 billion ($2.4 billion), as the U.S. technology conglomerate moves to broaden its refining and renewable fuel portfolio.
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May 21, 2025
Discover Interim Legal Chief Exits As Capital One Deal Closes
Discover Financial Services' interim chief legal officer and general counsel departed on Sunday, the same day Capital One Financial Corp. finalized its $35 billion acquisition of the financial services company.
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May 21, 2025
House Panel Advances Bills Easing Securities, Banking Regs
The U.S. House of Representatives Financial Services Committee this week approved 25 bills largely aimed at reducing capital markets and banking regulations, moving the deregulatory proposals forward for consideration by the full House.
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May 21, 2025
Verizon Looks To Break Free Of TracFone Unlocking Condition
Verizon is once again asking the Federal Communications Commission to let it out of a condition from its takeover of TracFone requiring the carrier to unlock its mobile phones after 60 days.
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May 21, 2025
Latham, Gibson Dunn Steer $5.75B Lumen, AT&T Fiber Deal
Lumen Technologies, represented by Latham & Watkins, announced Wednesday that it is selling its Mass Markets fiber-to-the-home business in 11 states to AT&T Inc., represented by Gibson Dunn & Crutcher LLP, in a $5.75 billion cash deal that is expected to close in the first half of 2026.
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May 21, 2025
AbbVie Gets Victory In Allergan Shareholder Suit Upheld
An Illinois state appellate panel said Wednesday that a trial court properly dismissed a shareholder class action against biopharmaceutical company AbbVie Inc. that accused the drugmaker of issuing unregistered shares to investors after acquiring Irish pharmaceutical company Allergan.
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May 21, 2025
Vegan Restaurant Chain Planta To Tap $1.75M In DIP Funding
A Delaware bankruptcy judge Wednesday agreed to approve bankrupt vegan restaurant chain Planta's bid to access $1.75 million of its $3.5 million debtor-in-possession financing package, saying it needs funding to continue its efforts toward a sale.
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May 21, 2025
Wachtell Guides OpenAI On $6.5B Io Products Acquisition
OpenAI said Wednesday it will acquire io Products, the hardware startup co-founded by former Apple design chief Jony Ive, in a $6.5 billion transaction that represents the artificial intelligence company's largest acquisition to date.
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May 21, 2025
Crypto Influencer's SPAC Leads 2 Offerings Totaling $420M
A special purpose acquisition company led by crypto influencer Anthony Pompliano and advised by Reed Smith LLP raised $220 million as it went public on Wednesday, while another fintech-focused blank check company advised by DLA Piper raised $200 million in its own offering.
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May 21, 2025
Rite Aid Cleared To Sell Pharmacy Assets To CVS, Others
A New Jersey bankruptcy judge Wednesday gave drugstore chain Rite Aid the go-ahead to transfer millions of prescriptions and dozens of stores to CVS, Walgreens and other pharmacy businesses in Chapter 11 transactions.
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May 21, 2025
Kraft Heinz Signals M&A Ambitions Amid Berkshire Board Exit
Kraft Heinz Co. is evaluating potential "strategic transactions" amid a board shakeup, as the food giant lays the groundwork for potential changes to its portfolio.
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May 21, 2025
Kronos Bio Shareholder Says Sale Unfairly Benefits Execs
Kronos Bio is facing a new shareholder suit claiming its plan to be acquired by another biopharmaceutical company will unfairly entitle Kronos executives to "lucrative" benefits unavailable to public shareholders.
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May 21, 2025
Crestline Investors Closes $1.7B NAV Financing Fund
Crestline Investors said Wednesday that it has closed its third commingled net asset value, or NAV, financing fund with $1.7 billion in capital, as the private equity firm continues its strategy of offering alternative investment and liquidity options amid a volatile exit environment.
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May 21, 2025
LA Chargers Latest NFL Team To Add PE Minority Ownership
The Los Angeles Chargers have become the third NFL team to sell a minority ownership stake to a private equity firm since the league approved such investments in August, with NFL owners OK'ing the purchase of a Chargers stake by Arctos Partners LP.
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May 21, 2025
Cadwalader Adds Ex-Latham Infrastructure Atty In London
Cadwalader Wickersham & Taft LLP announced it has added a former Latham & Watkins LLP infrastructure finance attorney as a partner in its London office.
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May 21, 2025
Simpson Thacher, Hogan Lovells Guide $1.75B Shipping Deal
Typewriter Ascend Ltd., an entity backed by Stonepeak and affiliated with container leasing firm Textainer, has agreed to acquire Global Sea Containers Ltd. from China's Bohai Leasing Co. in a deal valued at $1.75 billion.
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May 20, 2025
FDIC Nixes Biden-Era Merger Rules As House Passes OCC Bill
The Federal Deposit Insurance Corp. on Tuesday finalized the repeal of stricter bank merger guidelines adopted last year, pulling them back the same day as the U.S. House moved to nullify the Office of the Comptroller of the Currency's Biden-era merger policy rewrite.
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May 20, 2025
High Court Precedent Blocks FTC Commish Firings, Judge Told
A pair of recently fired Federal Trade Commission members sparred with the administration in D.C. federal court on Tuesday, with the judge raising questions about which Supreme Court precedent really holds in this dispute.
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May 20, 2025
Nextdoor Beats Investor Suit Over Post-SPAC Profitability
A California federal judge has tossed a shareholder class action that alleges hyperlocal social networking service Nextdoor Holdings Inc. misled investors about its projected profitability when combining with a special purpose acquisition company, saying the suit's plaintiff never owned or sold the company's securities before the merger, among other things.
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May 20, 2025
Meta Says Too Late For 'Dramatic Shift' In Antitrust Argument
Consumers who claim Meta monopolized the social media advertising market are attempting to make a late "dramatic shift" from their years-long argument that all of its users should have been paid a "made-up figure" of $5 a month for their data, the company told a California federal court Monday.
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May 20, 2025
Beach Point Nabs Nearly $1.3B For Private Credit, Real Estate
Beach Point Capital Management said Tuesday it has raised nearly $1.3 billion across two investment funds, as it continues to build out its offerings in private credit and real estate.
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May 20, 2025
Judge Denies Meta's Mid-Trial Bid To End FTC Monopoly Case
A D.C. federal judge refused Tuesday to cut short the trial in the Federal Trade Commission's monopolization lawsuit against Meta Platforms Inc., not finding the clear evidentiary failure necessary to nix the government's case over the company's purchases of WhatsApp and Instagram.
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May 20, 2025
Greenberg Traurig, Gibson Dunn Guide $865M Ariz. Hotel Sale
Ryman Hospitality Properties Inc. has purchased a Marriott-branded Phoenix resort from Trinity Investments for $865 million in a deal guided by Gibson Dunn and Greenberg Traurig, per statements from the buyer and seller.
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May 20, 2025
Cleary Guides Up To $391M Sale Of Levi Strauss' Dockers Line
Levi Strauss & Co. said Tuesday that it will offload its Dockers brand to Authentic Brands Group in a deal worth up to $391 million, signaling the company's intensified focus on its denim lines and the growth of its Beyond Yoga business.
Expert Analysis
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Series
Playing Football Made Me A Better Lawyer
While my football career ended over 15 years ago, the lessons the sport taught me about grit, accountability and resilience have stayed with me and will continue to help me succeed as an attorney, says Bert McBride at Trenam.
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What Del. Supreme Court LKQ Decision Means For M&A Deals
The Delaware Supreme Court's recent decision in LKQ v. Rutledge greatly increases the enforceability of forfeiture-for-competition provisions, representing an important affirmation of earlier precedent and making it likely that such agreements will become more common in M&A transactions, say attorneys at Mayer Brown.
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10 Arbitrations And A 5th Circ. Ruling Flag Arb. Clause Risks
The ongoing arbitral saga of Sullivan v. Feldman, which has engendered proceedings before 10 different arbitrators in Texas and Louisiana along with last month's Fifth Circuit opinion, showcases both the risks and limitations of arbitration clauses in retainer agreements for resolving attorney-client disputes, says Christopher Blazejewski at Sherin and Lodgen.
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Perspectives
Power To The Paralegals: The Value Of Unified State Licensing
Texas' proposal to become the latest state to license paraprofessional providers of limited legal services could help firms expand their reach and improve access to justice, but consumers, attorneys and allied legal professionals would benefit even more if similar programs across the country become more uniform, says Michael Houlberg at the University of Denver.
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Key Digital Asset Issues Require Antitrust Vigilance
As the digital assets industry continues to mature and consolidate during Trump 2.0, it will inevitably bump up against the antitrust laws in a new way, with potential pitfalls related to merger reviews, conspiratorial or monopolistic conduct, and interlocking directorates, say attorneys at Crowell & Moring.
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10 Soft Skills Every GC Should Master
As businesses face shifting regulatory and technological uncertainty, general counsel will need to strengthen certain soft skills to succeed, from admitting when they make a mistake to maintaining a healthy dose of dispassion, says Douglas Brown at Manatt.
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How Proxy Advisory Firms Are Approaching AI And DEI
Institutional Shareholder Services' and Glass Lewis' annual updates to their proxy voting guidelines reflect some of the biggest issues of the day, including artificial intelligence and DEI, and companies should parse these changes carefully, say attorneys at Cahill Gordon.
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An Unrestrained, Bright-Eyed View Of Legal AI's Future
Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner and more dramatically than we expect.
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Tracking The Evolution In Litigation Finance
Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure lending terms do not overwhelm collateral value, says Robert Wilkins at Lightfoot Franklin.
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Keys To Regulatory Diligence In Life Sciences Transactions
Conducting effective regulatory due diligence for life sciences deals requires careful review of a target company's activities, and separate sets of considerations for commercial and pipeline products, says Anna Zhao at GunnerCooke.
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Series
Volunteer Firefighting Makes Me A Better Lawyer
While practicing corporate law and firefighting may appear incongruous, the latter benefits my legal career by reminding me of the importance of humility, perspective and education, says Nicholas Passaro at Ford.
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Calif. Antitrust Laws May Turn More Zealous Than US Regs
California is poised in the next 18 months to significantly expand its antitrust laws, broadening the scope of liability and creating a premerger review process that could be more expansive than review under the Hart-Scott-Rodino Act, say attorneys at Munger Tolles.
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E-Discovery Quarterly: The Perils Of Digital Data Protocols
Though stipulated protocols governing the treatment of electronically stored information in litigation are meant to streamline discovery, recent disputes demonstrate that certain missteps in the process can lead to significant inefficiencies, say attorneys at Sidley.
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A Look At M&A Trends In An Uncertain Deal Environment
Dealmakers are adopting more cautious and deliberate merger and acquisition practices, such as earnout agreements, joint ventures and strategic partnerships that mitigate risk and bridge valuation gaps, amid the slower pace so far in 2025, says Louis Lehot at Foley & Lardner.
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Series
Law School's Missed Lessons: Preparing For Corporate Work
Law school often doesn't cover the business strategy, financial fluency and negotiation skills needed for a successful corporate or transactional law practice, but there are practical ways to gain relevant experience and achieve the mindset shifts critical to a thriving career in this space, says Dakota Forsyth at Olshan Frome.