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Mergers & Acquisitions
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April 18, 2025
Saxton & Stump's M&A Chair Moves To Fox Rothschild
Fox Rothschild LLP has grown its corporate offerings in Pennsylvania with the addition of Saxton & Stump LLC's former mergers and acquisitions leader, according to a Friday announcement.
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April 18, 2025
KKR Blasts 'Draconian' DOJ Suit Over Alleged Filing Errors
In a motion to dismiss a U.S. Department of Justice lawsuit that could carry $650 million in penalties, private equity giant KKR accused the government of pursuing "draconian, unconstitutional and unprecedented penalties" over what it called "immaterial ... purported errors" in routine merger filings.
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April 18, 2025
Taxation With Representation: Davis Polk, Simpson Thacher
In this week's Taxation With Representation, Global Payments Inc. buys Worldpay from GTCR and FIS, Intel Corp. sells a stake in its Altera business to Silver Lake, KKR acquires OSTTRA from S&P Global and CME Group, and Canada's Capital Power Corp. nabs two U.S. natural gas power plants.
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April 18, 2025
5 Takeaways From Texas Stock Exchange's SEC Filing
The newly formed Texas Stock Exchange LLC is proposing rules that largely resemble those of the New York heavyweights it seeks to challenge, along with some notable differences, leaving questions on how the exchange will distinguish itself. Here are five takeaways from TXSE's securities filing.
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April 18, 2025
Capital One's Discover Deal Gets Bank Regulators' Approval
Capital One on Friday received the last regulatory sign-offs needed for its $35 billion purchase of Discover, putting the megadeal on track to close for the former while also clearing the decks of a more than $1 billion enforcement matter for the latter.
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April 17, 2025
Sandberg Says FTC Market View Makes No Sense In Meta Case
Meta Platforms' former longtime board member and Chief Operating Officer Sheryl Sandberg pushed back Thursday on crucial Federal Trade Commission arguments trying to shape the market the social media giant is accused of monopolizing, criticizing a friends and family definition the FTC is using to exclude TikTok as a competitor.
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April 17, 2025
SolarWinds Sued For Docs On $4.4B Take-Private Deal
Citing company controller clout and alleged minority stockholder sidelining, a SolarWinds Corp. stock-owning trust has sued in Delaware's Court of Chancery for documents related to the company's $4.4 billion, $18.50-per-share take-public deal from Turn/River Capital LP.
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April 17, 2025
NC Hospital Operator Can't Escape AG's Merger Suit Yet
A North Carolina Business Court judge rejected HCA Healthcare's bid for a partial win in state Attorney General Jeff Jackson's compliance suit reviewing the company's 2019 purchase of another hospital system, ruling that the purchase agreement's language is too ambiguous to decide the matter without further discovery.
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April 17, 2025
QXO Prices $500M Offering Connected To $11B Beacon Buy
Building products distribution company QXO Inc. announced the pricing of a stock offering, with plans to raise $500 million, which will be used to finance a portion of its pending $11 billion acquisition of Beacon Roofing Supply Inc.
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April 17, 2025
OpenAI Eyes Windsurf, Activist Targets HP, And More Rumors
OpenAI is preparing to bid about $3 billion to acquire coding developer Windsurf, activist fund Elliot Investment Management has purchased a major stake in Hewlett Packard with an eye toward pushing changes at the information technology giant, and private equity giant KKR is considering selling Atlantic Aviation for $10 billion.
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April 17, 2025
Hidden Road Nabs Broker-Dealer Approval After Ripple Deal
Prime brokerage platform Hidden Road announced Thursday that it's received a broker-dealer license from the Financial Industry Regulatory Authority, hot on the heels of a deal that will see Ripple Labs acquire the firm for $1.25 billion.
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April 17, 2025
7-Eleven Parent Floats Refreshed Board With 4 New Nominees
Japan's Seven & i Holdings Co. on Thursday proposed a refreshed slate of directors and reaffirmed its commitment to pursuing both internal reforms and a potential acquisition by Canada's Alimentation Couche-Tard.
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April 17, 2025
Strava To Acquire UK-Based Running Training App Runna
Privately held exercise app Strava announced Thursday that it will acquire United Kingdom-based Runna, a coaching platform for runners, but no financial details were included with the announcement.
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April 17, 2025
Mubadala Joins $14.5B Education JV With $600M Investment
Mubadala Investment Co. said Thursday it will acquire a minority stake in Nord Anglia Education for $600 million, joining an EQT-led consortium that purchased the international schools organization in a $14.5 billion deal that closed last month.
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April 17, 2025
Global Payments To Acquire Worldpay In $24.3B Deal
Global Payments Inc. unveiled plans Thursday to acquire payments giant Worldpay from GTCR and FIS for $24.25 billion, while divesting its issuer solutions business to FIS for $13.5 billion, in transactions that could reshape the global payments landscape.
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April 17, 2025
Barclays To Offload Payments Business To Brookfield
British lender Barclays Bank PLC said Thursday that it plans to sell most of its payments business to U.S. asset manager Brookfield in a move to realize the money it has invested in the subsidiary.
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April 16, 2025
Zuckerberg Calls TikTok Meta's 'Highest Competitive Threat'
Meta Platforms Inc. CEO Mark Zuckerberg pushed back Wednesday on Federal Trade Commission efforts to cabin the company's allegedly monopolistic social media dominance into a market that excludes TikTok and YouTube, telling a D.C. federal judge video has become the new predominant form of social media interaction.
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April 16, 2025
Mexico's Vista Buys Stake In Argentine Oil Project For $1.5B
Mexico-based oil and gas company Vista Energy said Wednesday it has acquired a 50% stake in La Amarga Chica, a large shale oil project in the Neuquina Basin of Argentina's vast Vaca Muerta shale formation, for about $1.5 billion.
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April 16, 2025
Napster Owner Infinite Reality Adds AI Power With $500M Deal
Gibson Dunn-advised Infinite Reality said Wednesday it will acquire AI firm Touchcast for $500 million, as the company seeks more AI power to deepen user engagement across a growing digital platform portfolio that includes a rebooted Napster.
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April 16, 2025
Consumer-Focused SPAC Details $150M IPO Plans
Blank check company Vendome Acquisition Corp. I has filed plans to raise up to $150 million in an initial public offering with the goal of acquiring a business in the consumer sector.
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April 16, 2025
Ex-US Atty Chosen To Monitor T-Mobile Merger Compliance
The U.S. Department of Justice is looking to appoint former U.S. attorney and current Kasowitz Benson Torres partner Edward McNally as the new monitoring trustee to oversee the government's settlement with T-Mobile that cleared the way for its $26 billion acquisition of Sprint.
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April 16, 2025
Baker McKenzie-Led Lyft To Buy Rival Freenow For €175M
Ride hailing service Lyft Inc. said Wednesday that it has agreed to acquire European competitor Freenow from BMW Group and Mercedes-Benz Mobility for approximately €175 million ($199 million) in a deal guided by Baker McKenzie and DLA Piper.
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April 16, 2025
Hengeler Mueller-Led KKR To Buy German IT Biz For €451M
Private equity giant KKR & CO. Inc. has agreed to acquire German IT services company Datagroup SE for approximately €451 million ($512 million) in a deal guided by Heuking and Hengeler Mueller.
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April 16, 2025
Sidley Brings On Gibson Dunn M&A Expert In California
Sidley Austin LLP continues growing its California team, bringing in a Gibson Dunn & Crutcher LLP mergers and acquisitions expert as a partner in its Century City office.
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April 15, 2025
Zuckerberg Calls Buying Rival, Building Co. Two Sides Of 1 Coin
Meta Platforms CEO Mark Zuckerberg tried Tuesday to distance himself from internal documents describing Instagram and WhatsApp as competitive threats, pushing back on Federal Trade Commission monopolization claims by arguing in D.C. federal court that the owner of Facebook was always focused on improvements to itself and the acquisitions.
Expert Analysis
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Destination Skiing And The DOJ's Mountain Merger Challenge
Attorneys at Robins Kaplan consider what the U.S. Department of Justice's second request for information portends for Alterra's acquisition of Colorado's Arapahoe Basin ski area, exploring the potential consequences for market definition, industry consolidation and the transformation of the lift ticket market.
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Promoting Diversity In The Selection Of ADR Neutrals
Excerpt from Practical Guidance
Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.
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Series
Playing Ultimate Makes Us Better Lawyers
In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron.
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Dissecting New Circuit Split Over SEC's Proxy Adviser Rule
The Sixth Circuit recently upheld the U.S. Securities and Exchange Commission's partial rescission of enhanced conflict-of-interest disclosure requirements for proxy voting advice businesses, creating a circuit split over broader questions concerning the standard for assessing the legality of agency actions in general, say attorneys at Cahill Gordon.
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E-Discovery Quarterly: Recent Rulings On Metadata
Several recent rulings reflect the competing considerations that arise when parties dispute the form of production for electronically stored information, underscoring that counsel must carefully consider how to produce and request reasonably usable data, say attorneys at Sidley.
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Striking A Balance Between AI Use And Attorney Well-Being
As the legal industry increasingly adopts generative artificial intelligence tools to boost efficiency, leaders must note the hidden costs of increased productivity, and work to protect attorneys’ well-being while unlocking AI’s full potential, says Ed Sohn at Factor.
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Empathy In Mediation Offers A Soft Landing For Disputes
Experiencing a crash-landing on a recent flight underscored to me how much difference empathy makes in times of crisis or stress, including during mediation, says Eydith Kaufman at Alternative Resolution Centers.
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Series
Being An Artist Makes Me A Better Lawyer
My work as an artist has highlighted how using creativity and precision together — qualities that are equally essential in both art and law — not only improves outcomes, but also leads to more innovative and thoughtful work, says Sarah La Pearl at Segal McCambridge.
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How Judiciary Can Minimize AI Risks In Secondary Sources
Because courts’ standing orders on generative artificial intelligence and other safeguards do not address the risk of hallucinations in secondary source materials, the judiciary should consider enlisting legal publishers and database hosts to protect against AI-generated inaccuracies, say attorneys at Lankler Siffert & Wohl.
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How Attorneys Can Break Free From Career Enmeshment
Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.
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Lawyers With Disabilities Are Seeking Equity, Not Pity
Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.
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Fostering Healthcare Industry Success With Joint Ventures
As the healthcare industry continues to evolve, joint ventures remain a key strategy to unite health systems, private equity firms and physician practices in leveraging their collective strengths to foster innovation and improve patient care, say Carole Becker and Travis Jackson at McDermott.
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Opinion
Judicial Committee Best Venue For Litigation Funding Rules
The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.
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The Strategic Advantages Of Appointing A Law Firm CEO
The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.
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Inside FTC's Decision To Exit Key Merger Review Labor Memo
Despite the Federal Trade Commission's recent withdrawal from a multiagency memorandum of understanding to step up enforcement of labor issues in merger investigations, the antitrust agencies aren't likely to give up their labor market focus, say attorneys at Stinson.