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Mergers & Acquisitions
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September 15, 2025
NBA's Trail Blazers Sold To Owner Of NHL's Hurricanes
The estate of Paul Allen has reached an agreement to sell the NBA Portland Trail Blazers to a group led by Tom Dundon, the chair of Dundon Capital Partners, who has had notable success in sports ownership in the National Hockey League and in professional pickleball but also is in the midst of a legal fight over the collapse of a spring football league.
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September 15, 2025
Sears Investors Ink $9M Deal In Fiduciary Breach Case
A hedge fund manager and his firm will pay more than $9 million to end a long-running lawsuit alleging that they shortchanged investors when they took Sears Hometown and Outlet Stores Inc. private in 2019, according to a deal filed in the Delaware Court of Chancery.
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September 15, 2025
Dr. Phil Media Co.'s Committee Backs Chapter 11 Settlement
Merit Street Media's official committee of unsecured creditors has thrown its support behind a proposed $17 million Chapter 11 settlement funded by Dr. Phil McGraw's production company Peteski Productions, saying a bankruptcy plan would result in the best outcome for creditors.
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September 15, 2025
Catching Up With Delaware's Chancery Court
Delaware's governor weighed in on a challenge to recently approved state legislation that bars damages or "equitable" relief for some controlling stockholder or going-private deals. Meanwhile, Moelis told the Delaware Supreme Court that the struck-down stockholder agreement that triggered that legislation was valid. Additionally, one of two newly funded magistrates' posts in the Chancery Court has been filled.
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September 15, 2025
Kirkland, Gibson Dunn Advise On $1B Blackstone Energy Deal
Blackstone will pay nearly $1 billion to purchase the Hill Top Energy Center natural gas power plant from Ardian, with Kirkland & Ellis LLP and Gibson Dunn & Crutcher LLP steering the private equity firms on the agreement, the firms said Monday.
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September 15, 2025
US, China Agree On TikTok Ownership Transfer, Bessent Says
The U.S. and China established a commercial framework for a deal with video sharing giant TikTok to transfer ownership of the app to the U.S., just days before a deadline to sell the app or shut it down, U.S. Treasury Secretary Scott Bessent told reporters at a press conference in Madrid on Monday.
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September 15, 2025
Neal & Leroy Taps Kirkland Atty To Lead Corporate Team
Chicago-based boutique law firm Neal & Leroy LLC has found the chair of its corporate department from Kirkland & Ellis LLP and added a new intellectual property attorney from Skadden Arps Slate Meagher & Flom LLP.
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September 15, 2025
V&E, Sullivan & Cromwell Build $6B Energy Industry Merger
Sullivan & Cromwell LLP-advised independent energy company California Resources Corp. unveiled plans Monday to merge with upstream energy company Berry, led by Vinson & Elkins LLP, in an all-stock deal that values the combined company at an enterprise value of more than $6 billion.
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September 15, 2025
Novartis, Monte Rosa Ink Up To $5.7B 'Molecular Glue' Deal
Novartis is placing a potential $5.7 billion bet on Monte Rosa Therapeutics, a clinical-stage biotech company, to develop new treatments for immune-related diseases, Monte Rosa said on Monday.
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September 12, 2025
Wabtec Wants Caterpillar Unit's Antitrust Claims Axed Again
Caterpillar subsidiary Progress Rail is trying "yet again" to "turn what are, at most, contract disputes into an antitrust lawsuit" after its claims against rail giant Wabtec over its 2019 merger with General Electric's transportation unit failed the first time around, a Delaware federal court has been told.
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September 12, 2025
Albertsons Loses Bid For Docs On Kroger CEO's Exit
The Kroger Co. does not have to turn over documents to Albertsons Cos. Inc. concerning former Kroger CEO Rodney McMullen's abrupt exit, the Delaware Chancery Court ruled Friday, saying that personal conduct that prompted McMullen's resignation wasn't relevant to Albertsons' litigation claims over the grocery chains' failed $25 billion merger.
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September 12, 2025
Bitcoin Miner Hut 8 Beats Some Merger Disclosure Suit Claims
A New York federal judge on Friday dismissed a majority of the claims in a suit alleging that bitcoin miner Hut 8 Corp. overpaid for a company with severe operational issues and misled investors about energy and connectivity failures at a Texas facility that was part of the merger, finding that many of the challenged statements in the suit are inactionable.
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September 12, 2025
Del. Judge Says Pet Med Co. Founder Liable For $40.2M
A Delaware Superior Court judge has ruled the founder of a veterinary orthopedic implant venture must indemnify the company's recent buyer for $40.2 million from a $70 million patent infringement-related settlement, while capping the cumulative liability award after other costs at $55 million and awaiting proposals covering interest awards.
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September 12, 2025
Microsoft, OpenAI Ink Tentative Deal On Nonprofit Restructure
OpenAI and Microsoft have announced that the OpenAI nonprofit is taking a major step in its development, gaining control of a new Public Benefit Corporation and receiving an equity stake worth more than $100 billion.
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September 12, 2025
4 Companies Led By 5 Firms Ride IPO Wave, Raising $1.9B
Four companies across wide-ranging industries — including an engineering firm, a transportation tech startup, a cryptocurrency exchange and a coffee chain — began trading Friday after raising a cumulative roughly $1.9 billion in their initial public offerings, capping off the year's busiest week for new listings.
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September 12, 2025
Digital Infrastructure SPAC Starts Trading After $200M IPO
Special purpose acquisition company OTG Acquisition Corp. I began trading on Friday after pricing a $200 million initial public offering, with plans to merge with a company in the digital infrastructure services sector.
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September 12, 2025
Off The Bench: NCAA Athlete Ban, WNBA Sun Controversy
In this week's Off The Bench, the NCAA administered permanent bans to three basketball players, and two high-profile politicians warned the WNBA that it could be at risk of violating antitrust laws if it interferes in the sale of the Connecticut Sun.
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September 12, 2025
Taxation With Representation: Felesky Flynn, Gibson, Kirkland
In this week's Taxation With Representation, copper mining companies Anglo American and Teck Resources plan to merge, EchoStar agrees to sell spectrum licenses to SpaceX, and Diversified Energy acquires fellow energy operator Canvas.
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September 12, 2025
Quinn Emanuel's $30M Fee Bid Flouts Ch. 11, Co. Says
Israeli printed circuit maker Nano Dimension has told a Massachusetts federal judge that Quinn Emanuel Urquhart & Sullivan LLP can't claim a $30 million attorney's lien to make an "end run" around the bankruptcy of 3D printing company Desktop Metal, a former client that Nano acquired.
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September 12, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen former Master Chef presenter Gregg Wallace sue the BBC, Elon Musk's xAI take legal action against a staff engineer, and fashion mogul Kevin-Gerald Stanford file a fresh claim against Lion Capital-owned Klotho and EY amid a long-running All Saints share acquisition dispute.
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September 12, 2025
Davis Wright Adds Stradling Yocca M&A Pro In LA
Davis Wright Tremaine LLP is boosting its Southern California corporate team, bringing in a Stradling Yocca Carlson & Rauth PC mergers and acquisitions expert as a partner in its Los Angeles office.
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September 12, 2025
Sabadell Tells Shareholders To Reject €17.4B BBVA Takeover
Spanish lender Banco Sabadell told its shareholders on Friday to reject a €17.4 billion ($20.4 billion) hostile takeover from rival BBVA as it said that the deal is full of risk and uncertainty and undervalues the group.
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September 11, 2025
Dental Supply Co.'s $84M Price-Fixing Deal Gets Final OK
Dental supply company Dentsply Sirona Inc. and its investors have gotten final approval for an $84 million deal resolving consolidated shareholder class action claims that the company hurt investors by concealing a price-fixing scheme and a distributor's inventory buildup.
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September 11, 2025
AI, Tech and More Sectors Drive $4B-$7B Deal Rumors
Valuations in the $4 billion to $7 billion range emerged as the sweet spot in this week's deal rumors, with companies across artificial technology, tech and other sectors reportedly nearing stake sales, divestitures and initial public offerings.
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September 11, 2025
23 States Back High Court Stay Of FTC Dem's Reinstatement
Florida and 22 other states have urged the U.S. Supreme Court to grant the Trump administration's request to block a Democratic member of the Federal Trade Commission from serving on the commission while she challenges her firing.
Expert Analysis
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Series
Competing In Modern Pentathlon Makes Me A Better Lawyer
Opening myself up to new experiences through competing in modern Olympic pentathlon has shrunk the appearance of my daily work annoyances and helps me improve my patience, manage crises better and remember that acquiring new skills requires working through your early mistakes, says attorney Mary Zoldak.
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NY Case Shows How LLC Agreements Can Be Amended
The New York Court of Appeals in Behler v. Tao recently held that a merger clause contained in an amended limited liability company agreement superseded and extinguished an alleged oral agreement between the parties, highlighting the importance of determining early how and when an LLC agreement may be amended, says Kerrin Klein at Olshan Frome.
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Series
Law School's Missed Lessons: Teaching Yourself Legal Tech
New graduates often enter practice unfamiliar with even basic professional software, but budding lawyers can use on-the-job opportunities to both catch up on technological skills and explore the advanced legal and artificial intelligence tools that will open doors, says Alyssa Sones at Sheppard Mullin.
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Texas Targets Del. Primacy With Trio Of New Corporate Laws
Delaware has long positioned itself as the leader in attracting business formation, but a flurry of new legislation in Texas aimed at attracting businesses to the Lone Star State is aggressively trying to change that, says Andrew Oringer at the Wagner Law Group.
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How AI May Reshape The Future Of Adjudication
As discussed at a recent panel at Texas A&M, artificial intelligence will not erase the human element of adjudication in the next 10 to 20 years, but it will drive efficiencies that spur private arbiters to experiment, lead public courts to evolve and force attorneys to adapt, says Christopher Seck at Squire Patton.
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When Legal Advocacy Crosses The Line Into Incivility
As judges issue sanctions for courtroom incivility, and state bars advance formal discipline rules, trial lawyers must understand that the difference between zealous advocacy and unprofessionalism is not just a matter of tone; it's a marker of skill, credibility and potentially disciplinary exposure, says Nate Sabri at Perkins Coie.
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Series
Volunteering At Schools Makes Me A Better Lawyer
Speaking to elementary school students about the importance of college and other opportunities after high school — especially students who may not see those paths reflected in their daily lives — not only taught me the importance of giving back, but also helped to sharpen several skills essential to a successful legal practice, says Guillermo Escobedo at Constangy.
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How Trump Administration's Antitrust Agenda Is Playing Out
Under the current antitrust agency leadership, the latest course in merger enforcement, regulatory approach and key sectors shows a marked shift from Biden-era practices and includes a return to remedies and the commitment to remain focused on the bounds of U.S. law, say attorneys at Wilson Sonsini.
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Attacks On Judicial Independence Tend To Manifest In 3 Ways
Attacks on judicial independence now run the gamut from gross (bald-faced interference) to systemic (structural changes) to insidious (efforts to undermine public trust), so lawyers, judges and the public must recognize the fateful moment in which we live and defend the rule of law every day, says Jim Moliterno at Washington and Lee University.
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A Look At Texas Corp. Law Changes Aimed At Dethroning Del.
Seeking to displace Delaware as the preferred locale for incorporation, Texas recently significantly amended its business code, including changes like codifying the business judgment rule, restricting books and records demands, and giving greater protections for officers and directors in interested transactions, say attorneys at Fenwick.
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Series
Law School's Missed Lessons: Appreciating Civil Procedure
If you’re like me, law school’s often complex and theoretical approach to teaching civil procedure may have contributed to an early struggle with the topic, but when seen from a practical perspective, new lawyers may find they enjoy mastering these rules, says Chloe Villagomez at Foster Garvey.
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Calif. Bar Exam Fiasco Shows Why Attys Must Disclose AI Use
The recent revelation that a handful of questions from the controversial California bar exam administered in February were drafted using generative artificial intelligence demonstrates the continued importance of disclosure for attorneys who use AI tools, say attorneys at Troutman.
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The State Of Play For Bank Merger Act Applications
Both the Office of the Comptroller of the Currency's recent reversal of changes to its bank merger policies and the Federal Deposit Insurance Corp.'s rescission of its 2024 statement may be relevant for all banks considering a transaction, as responsibility for review depends on the identity of the parties and the transaction structure, say attorneys at Davis Polk.
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Del. Corporate Law Rework May Not Stem M&A Challenges
While Delaware's S.B. 21 introduced significant changes regarding controllers and conflicted transactions by limiting what counts as a controlling stake and improving safe harbors, which would seem to narrow the opportunities to challenge a transaction as conflicted, plaintiffs bringing shareholder derivative claims may merely become more resourceful in asserting them, say attorneys at Debevoise.
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Synopsys-Ansys Merger Augurs FTC's Return To Remedies
The Federal Trade Commission's recent approval of $35 billion merger between Synopsys and Ansys, subject to the divestiture of certain assets, signals a renewed preference for settlements over litigation, if the former can preserve competition and a robust structural remedy is available, say attorneys at Simpson Thacher.