Mergers & Acquisitions

  • March 28, 2024

    Freshfields, WilmerHale-Led Keysight Bids £1.2B For UK Biz

    Telecoms-testing specialist Spirent said Thursday that it has agreed to accept a bid of approximately £1.16 billion from U.S. technology company Keysight and has rejected a previously agreed £1 billion offer from a maker of network-testing equipment.

  • March 28, 2024

    The Home Depot Buying PE-Backed SRS For $18.25B

    The Home Depot said Thursday it has agreed to acquire SRS Distribution Inc., a private equity-backed distributor of roofing and building supplies, for $18.25 billion, inclusive of debt. 

  • March 27, 2024

    Merger News Boosts Rivals, 'Shadow Trading' Jury Told

    Medivation's 2016 sale announcement would have an expected positive "spillover effect" on rival Incyte's stock price, a U.S. Securities and Exchange Commission expert testified Wednesday in a "shadow trading" trial over claims an ex-Medivation executive exploited confidential news of his company's imminent acquisition to buy shares in the competitor.

  • March 27, 2024

    Energy Co. Origis Exits Investor Suit Over Devalued Shares

    Renewable energy company Origis USA Inc. has escaped a suit by former shareholders after a New York federal judge concluded that the plaintiffs failed to show that the company was privy to an alleged scheme by its now-former CEO to induce them to sell their stakes for considerably less than the $1.4 billion they were later sold for.

  • March 27, 2024

    Alamos Gold Strikes $325M Deal For Canadian Mine

    Alamos Gold Inc. and Argonaut Gold Inc. announced Wednesday that they have inked an approximately $325 million deal steered by Torys LLP and Bennett Jones LLP for Alamos to acquire an Argonaut gold mine located in Ontario, Canada.

  • March 27, 2024

    T-Mobile Can Appeal Refusal To Toss Sprint Merger Case

    An Illinois federal court granted T-Mobile's request on Wednesday to immediately appeal a ruling refusing to toss a proposed class action from AT&T and Verizon subscribers who have alleged their prices increased because of T-Mobile's 2020 merger with Sprint.

  • March 27, 2024

    Backers Of Trump-Tied SPAC Sue To Confirm Manager Purge

    Investors behind the sponsor of the special-purpose acquisition company that took Donald Trump's Truth Social public sued its managing member, seeking a declaration from the Delaware Chancery Court that they have validly removed him from his post and that he has no authority to act on their behalf.

  • March 27, 2024

    Colo. Judge Unplugs Vague EV-Maker Investor Suit

    A Colorado federal judge has dismissed a shareholder suit against commercial electric vehicle company Lightning eMotors, agreeing with a magistrate judge's conclusion that the shareholders failed to bring specific allegations that the company knowingly misled investors on matters like its production capacity.

  • March 27, 2024

    COVID Prompted Equity Plan Edit, Raytheon Tells Chancery

    Raytheon Technologies Corp. amended employee compensation plans in early 2020 to mitigate "head-spinning unprecedented volatility" from the COVID-19 pandemic, and a shareholder's allegations that directors acted in bad faith by failing to seek stockholder approval should be dismissed, the aerospace company told Delaware's Court of Chancery on Wednesday.

  • March 27, 2024

    Kimco Sells 10 Shopping Centers For $248M After RPT Buy

    Real estate investment trust Kimco Realty said it has sold 10 open-air shopping centers it gained in an acquisition of RPT Realty earlier this year for a total of $248 million.

  • March 27, 2024

    Chancery Sides With Cannabis Company On Legal Fees Row

    A Delaware Court of Chancery judge at a Wednesday hearing gave Left Coast Ventures Inc. time to fulfill a court order requiring it to cover legal fees for three former directors of the cannabis company defending a merger-related suit, after a company attorney told the judge the money will be coming.

  • March 27, 2024

    Troika Media Can Exit Ch. 11 After Settlement And Lender Sale

    Marketing firm Troika Media Group Inc. is set to exit bankruptcy before the end of the month after a New York bankruptcy judge Wednesday said he would approve its Chapter 11 plan to sell itself as a going concern and settle pre-bankruptcy legal disputes.

  • March 27, 2024

    Everbridge Investor Seeks To Block $1.8B Thoma Bravo Deal

    A shareholder in Massachusetts-based emergency management platform Everbridge Inc. is asking a state court to intervene in a pending $1.8 billion acquisition by private equity firm Thoma Bravo LP, alleging in a Wednesday lawsuit that investors are being misled about the true value of shares and the motives of those promoting the deal.

  • March 27, 2024

    BCLP Adds Ex-Nelson Mullins Outsourcing Pro To NY Office

    Bryan Cave Leighton Paisner LLP on Tuesday announced the addition of the former digital transformation and outsourcing chair at Nelson Mullins Riley & Scarborough LLP, touting her skills in those areas.

  • March 27, 2024

    Dykema-Led CPS Energy Buying Texas Gas Assets For $785M

    Dykema Gossett PLLC-advised CPS Energy has agreed to buy a Texas power generation portfolio from Talen Energy Corp. for $785 million, the companies said Wednesday.

  • March 27, 2024

    Skadden Steers Int'l Paper's £5.7B Bid For DS Smith

    International Paper Co. has made a £5.72 billion ($7.22 billion) proposed offer for British rival DS Smith PLC as it seeks to compete with the earlier bid of £5.1 billion made by Mondi PLC.

  • March 26, 2024

    Banker Describes Confidential Work In 'Shadow Trading' Trial

    An Evercore investment banker who worked on Medivation's 2016 sale to Pfizer testified Tuesday in the U.S. Securities and Exchange Commission's novel "shadow trading" trial, saying the defendant was involved in a confidential process that identified biopharma company Incyte as comparable to Medivation — information the defendant is accused of trading on.

  • March 26, 2024

    Judge To Let McDermott Investors Seek 2-Subclass Cert.

    A Texas federal judge has declined to certify a proposed class of investors in energy industry engineering company McDermott International Inc., siding with a magistrate judge who recommended dismissing the class certification bid so the investors could refile and seek certification for two investor subclasses.

  • March 26, 2024

    FCC Urged To Require Unlocked Phones In T-Mobile-Mint Deal

    A collection of public interest groups is asking the Federal Communications Commission to attach new strings to T-Mobile's proposed $1.3 billion purchase of prepaid phone sellers Mint Mobile and Ultra Mobile, including a requirement that the carrier more quickly "unlock" its phones so they can be transferred between service providers.

  • March 26, 2024

    SPAC 'Frenzy' Led To $1.6B Deal For Dog Treat Co., Suit Says

    Shareholders of a special-purpose acquisition company that merged with dog-treat box company BarkBox in a $1.6 billion deal have sued the executives and directors of both entities, alleging they breached their fiduciary duties in connection with what the complaint calls "an extreme example of the 'churn-and-burn' SPAC frenzy."

  • March 26, 2024

    FTC Urges Court To Pause Novant's NC Hospital Deal

    The Federal Trade Commission is urging a North Carolina federal court to pause Novant Health's $320 million deal for a pair of hospitals, contending the move would give Novant an "eye-popping" share of the hospital market in a Charlotte suburb.

  • March 26, 2024

    AI Weapons Detector Faces Investor Suit After Gov't Probes

    Evolv Technologies, which makes metal detectors that purportedly use artificial intelligence to detect weapons, is facing a proposed shareholder class action in Massachusetts federal court alleging that false claims about its products' abilities to screen for types of tactical knives and guns led to federal investigations and share declines.

  • March 26, 2024

    SPAC Investors Misled In $1.35B Stem Deal, Del. Suit Says

    A former stockholder of a blank-check company that merged with intelligent energy storage business Stem Inc. filed a proposed class action in Delaware's Court of Chancery Tuesday, alleging breaches of fiduciary duty and unjust enrichment in connection with the April 2021 merger.

  • March 26, 2024

    Alibaba Offers $3.75B Logistics Biz Takeover Instead Of IPO

    Chinese e-commerce giant Alibaba Group Holding Ltd. on Tuesday went back on its plans to spin off Cainiao Smart Logistics Network Ltd. through an initial public offering and instead announced plans to buy the remaining stake in the business that it does not already own for up to $3.75 billion.

  • March 26, 2024

    6 Firms Build $340M SPAC Merger For AI-Driven Medicine Biz

    Precision medicine company OmnigenicsAI Corp. on Tuesday announced it and artificial intelligence-enabled preventative medicine company MultiplAI Health Ltd., which it recently agreed to acquire, will go public through a merger with blank-check company APx Acquisition Corp. I in a deal built by six firms, valuing the two businesses at a combined $340 million.

Expert Analysis

  • Terror Funding Suit Could Affect Inherited Jurisdiction In NY

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    Depending on how New York’s highest court answers two questions certified from the Second Circuit in a case litigating companies’ liability for terrorist attacks, foreign companies with no relevant New York contacts may be subject to suit in state courts by virtue of an asset purchase, say attorneys at Norton Rose.

  • Perspectives

    A Judge's Pitch To Revive The Jury Trial

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    Ohio state Judge Pierre Bergeron explains how the decline of the jury trial threatens public confidence in the judiciary and even democracy as a whole, and he offers ideas to restore this sacred right.

  • Deal-Making Strategies To Explore Amid 2023's Uncertainties

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    Attorneys at White & Case delve into the evolving risks deal makers face in the remainder of 2023, detailing several approaches — such as activist simulations, stock-for-stock deals and divestitures — that may deliver value in an uncertain market.

  • Opinion

    Calif. Policymakers Should Aid Crashing Cannabis Market

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    As California’s cannabis sector nears the brink of financial collapse, it may be time for the state government to seriously consider potential bailout programs for the embattled industry — though the crisis also presents strategic buying opportunities for those with a high tolerance for uncertainty, says Michelle Mabugat at Greenberg Glusker.

  • How To Recognize And Recover From Lawyer Loneliness

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    Law can be one of the loneliest professions, but there are practical steps that attorneys and their managers can take to help themselves and their peers improve their emotional health, strengthen their social bonds and protect their performance, says psychologist and attorney Traci Cipriano.

  • Opinion

    Litigation Funding Disclosure Should Be Mandatory

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    Despite the Appellate Rules Committee's recent deferral of the issue of requiring third-party litigation funding disclosure, such a mandate is necessary to ensure the even-handed administration of justice across all cases, says David Levitt at Hinshaw.

  • Recalling USWNT's Legal PR Playbook Amid World Cup Bid

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    As the U.S. Women's National Soccer Team strives to take home another World Cup trophy, their 2022 pay equity settlement with the U.S. Soccer Federation serves as a good reminder that winning in the court of public opinion can be more powerful than a victory inside the courtroom, says Hector Valle at Vianovo.

  • Colorado Antitrust Reform Carries Broad State Impact

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    Colorado recently became the latest state to update and expand its antitrust laws, and the new act may significantly affect enforcement and private litigation, particularly when it comes to workers and consumers, says Diane Hazel at Foley & Lardner.

  • Mootness Fees Are Losing Traction In Del. And Federal Courts

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    The Delaware Chancery's recent decision in Anderson v. Magellan Health deals a significant blow to plaintiffs attorneys seeking mootness fees for merger litigation brought in that state, and federal courts are trending in the same direction, say Paul Marino and Michael Fialkoff at Day Pitney.

  • Opinion

    Merger Guidelines Should Provide For Competition Trustees

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    Following the U.S. antitrust agencies' release of draft merger guidelines, retired U.S. Court of Federal Claims Chief Judge Susan Braden suggests a court-appointed competition trustee would help ensure U.S. competition without impairing economic prosperity.

  • Senate Hearing Highlights Antitrust Hazards In PGA-LIV Deal

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    The U.S. Senate's recent questioning of PGA Tour COO Ron Price on the proposed deal with LIV Golf and its release of a dossier of framework agreements covered a variety of issues that could exacerbate antitrust concerns, including the predatory purchasing theory of competitive harm, free-riding and alternate funding, say attorneys at Perkins Coie.

  • Investors With ESG Aims Should Heed Antitrust Reporting Rules

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    As investors globally are embracing environmental, social and governance investing, regulatory agencies have made clear that ESG initiatives are not immune from antitrust scrutiny, and investors cannot count on receiving special exemptions from the Hart-Scott-Rodino Act reporting requirements, say Jonathan Gleklen and Francesca Pisano at Arnold & Porter.

  • US Antitrust Approach Toward ESG Clashes With EU Stance

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    A comparison between how EU and U.S. antitrust enforcers have approached companies' cooperative environmental, social and corporate governance efforts highlights America's comparatively harsh stance, contributing to a difficult compliance climate for international businesses, say attorneys at Steptoe & Johnson.

  • When Investment Banks Can Sell Real Estate In Calif.

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    When investment banks sell businesses that own property in California, they may run into trouble if they are not licensed real estate brokers, unless the property is merely incidental to the deal at hand, say attorneys at Holland & Knight.

  • Merger Guidelines' Broad Tack Ignores Recent Precedent

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    The U.S. Justice Department and Federal Trade Commission's new proposed merger guidelines are consistent with the Biden administration's expansive approach to antitrust enforcement, but they fail to grapple meaningfully with much of modern economic precedent and court decisions requiring greater agency rigor in merger analysis, say attorneys at Freshfields.

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