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Mergers & Acquisitions
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June 16, 2025
Catching Up With Delaware's Chancery Court
Delaware's Court of Chancery this past week sought answers in the high-stakes battle over the constitutionality of newly enacted Delaware corporation law amendments, which will hitch a ride to the state's Supreme Court via a suit contesting a $117 million acquisition of Clearway Energy Inc. by its majority shareholder.
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June 16, 2025
Live Nation Arbitration Firm Defends Its 'Flexible' Approach
Live Nation's chosen arbitration firm is urging the U.S. Supreme Court to take up the concert giant's bid to force concertgoers into arbitration, arguing its procedures are fair, and it was wrongly dinged for what the Ninth Circuit called "internally inconsistent, poorly drafted" arbitration rules.
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June 16, 2025
Abu Dhabi Oil Unit, Carlyle Offer To Buy Santos In $18.7B Deal
Global energy company Santos Ltd., advised by Herbert Smith Freehills Kramer, on Monday confirmed that it received a roughly $18.7 billion non-binding takeover offer from a consortium led by a subsidiary of Abu Dhabi National Oil Company.
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June 16, 2025
Crypto Platform Tron Eyes Public Listing Via Reverse Merger
China-based cryptocurrency platform Tron plans to go public through a reverse merger with Nasdaq-listed toy manufacturer SRM Entertainment Inc., both parties announced on Monday, supported by a $100 million investment arranged by a bank linked to President Donald Trump's family.
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June 16, 2025
Saul Ewing-Led Supernus Inks Up To $795M Brain Health Deal
Supernus Pharmaceuticals, represented by Saul Ewing LLP, said Monday it will acquire Kirkland-advised Sage Therapeutics in a transaction worth as much as $795 million, strengthening Supernus' position in treating neuropsychiatric conditions and expanding its central nervous system health portfolio.
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June 16, 2025
X Workers Say Musk Personally Liable In Severance Spat
Elon Musk should be held personally liable for workers' unpaid severance benefits claims, the former X Corp. employees told a Delaware federal court, saying he retained so much control over the social media company that the company alone cannot be at fault.
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June 16, 2025
Biz Seller Seeks Atty Fees After Win In 'Frivolous' Fraud Case
The former owner of a North Carolina concrete company is seeking attorney fees after defeating a buyer's fraud suit in a rare midtrial victory, saying her opponent should have to cover her legal costs for bringing claims to trial that were both "frivolous" and "malicious."
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June 16, 2025
Proskauer Continues M&A Growth With Ex-Paul Weiss Atty
Proskauer Rose LLP announced Monday that a former Paul Weiss Rifkind Wharton & Garrison LLP counsel focused on private company mergers, take-private transactions and cross-border acquisitions has joined the firm as a partner.
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June 16, 2025
Weil Guides PE-Backed 365 Retail On $848M Cantaloupe Buy
Michigan-based 365 Retail Markets, a provider of self-checkout retail technology and a portfolio company of Providence Equity Partners LLC, announced Monday it will acquire Pennsylvania-based Cantaloupe Inc. in an all-cash deal valued at about $848 million.
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June 16, 2025
Covington-Led Eaton Nabs Ultra PCS In $1.55B Deal
Covington & Burling LLP-advised power management company Eaton on Monday unveiled plans to buy Ultra PCS Ltd. from the Cobham Ultra Group, advised by Weil Gotshal & Manges LLP, in a $1.55 billion deal.
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June 16, 2025
Latham Guides Hunter Point's £1.3B Deal For Equitix Stake
U.S. investment firm Hunter Point Capital will buy a 16.1% stake in London-based investor Equitix in a deal that values it at £1.3 billion ($1.8 billion), majority owner Tetragon Financial Group Ltd. said Monday.
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June 16, 2025
Assura Weighs PHP Concessions As Bidding War Continues
National Health Service landlord Assura said Monday that it is weighing a £1.7 billion ($2.3 billion) offer from Primary Health Properties, after the investment trust added concessions to its undertaking in an intensification of a bidding war against KKR and Stonepeak.
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June 13, 2025
Trump Clears US Steel Merger With Japan's Nippon
President Donald Trump has approved the long-delayed deal between U.S. Steel and Japan's Nippon Steel, the companies said Friday, following a protracted, 18-month saga that included a block of the transaction by President Joe Biden.
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June 13, 2025
DOJ Says Google Still Won't Turn Over Ad Tech Breakup Docs
The U.S. Department of Justice on Friday told the Virginia federal court overseeing its ad tech monopolization case against Google that the search giant is still withholding documents analyzing a potential breakup of its ad tech business despite an order last month requiring it to produce the material.
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June 13, 2025
More Aspen Tech Stockholders Pile In For Del. Mega-Appraisal
A new Aspen Technology Inc. stockholder group launched a team demand Friday for Delaware Court of Chancery appraisal of their shares prior to the company's $265 per share, $7.2 billion minority stake acquisition by Emerson Electric Co., with other suits and related actions still pending.
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June 13, 2025
Fund Manager Reindicted In $4M Insider Trading Case
Federal prosecutors on Friday revived a $4 million insider trading case against a former Miami asset manager who previously dodged charges after a key witness backed out of testifying against him in 2022.
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June 13, 2025
Wabtec Gets Caterpillar Unit's Antitrust Claims Tossed
A Delaware federal judge has dismissed Caterpillar subsidiary Progress Rail's antitrust claims over rail giant Wabtec's 2019 merger with General Electric's transportation unit but refused to dismiss breach of contract and other claims.
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June 13, 2025
ENGlobal OK'd For Ch. 11 Sale And Wind Down Plan
Engineering firm ENGlobal Corp. on Friday confirmed a Chapter 11 plan to wind down following the sale of its business just over three months after it filed for bankruptcy in Texas.
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June 13, 2025
PE Firm Caused Policyholder To Overpay, R&W Insurer Says
A representations and warranties insurer accused a private equity firm in Delaware Chancery Court of causing its policyholder to pay too much in its $140 million acquisition of a construction equipment manufacturer, arguing the firm must reimburse the insurer for its $12 million coverage payment.
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June 13, 2025
Nelson Mullins Adds Smith Gambrell's Korea Leader In LA
Nelson Mullins Riley & Scarborough LLP has hired the former leader of Smith Gambrell & Russell LLP's Korea practice to bolster its corporate, mergers and acquisitions, entertainment transaction, and other services.
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June 13, 2025
Jefferson Capital Targets $1B Valuation With $160M IPO
Private equity-backed consumer debt purchaser and collector Jefferson Capital on Friday laid out the terms for its planned initial public offering that would target a valuation of up to approximately $1 billion.
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June 13, 2025
AstraZeneca Inks Up To $5.3B AI Drug Deal With Chinese Firm
AstraZeneca said Friday it has entered into a strategic artificial intelligence-driven research partnership with China's CSPC Pharmaceutical Group in a deal worth as much as $5.3 billion, expanding the British drugmaker's commitments in the country following a shakeup of the company's local leadership.
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June 13, 2025
Taxation With Representation: Debevoise, Latham, Paul Weiss
In this week's Taxation With Representation, Brown & Brown Inc. buys Accession Risk Management Group Inc., Allison Transmission Holdings Inc. acquires Dana Inc.'s off-highway unit, Qualcomm Inc. buys Alphawave IP, and Warner Bros. Discovery announced it will split into two publicly traded companies.
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June 13, 2025
SharpLink Gaming Buys Ether Cryptocurrency Sum For $463M
Online performance marketing company SharpLink Gaming, advised by Thompson Hine LLP, announced on Friday that it has bought 176,270.69 of ether cryptocurrency for $463 million, a transaction that the company says cements it as the largest publicly traded holder of ether in the world.
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June 13, 2025
Jones Day-Led PE Firm Bids £186.7M For Engineer Renold
MPE Partners, a private equity firm, said Friday it had agreed to acquire Renold PLC, a British industrial chains maker, for approximately £186.7 million ($254 million), in a deal guided by Jones Day and Eversheds Sutherland.
Expert Analysis
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How Attorneys Can Master The Art Of On-Camera Presence
As attorneys are increasingly presented with on-camera opportunities, they can adapt their traditional legal skills for video contexts — such as virtual client meetings, marketing content or media interviews — by understanding the medium and making intentional adjustments, says Kerry Barrett.
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Justices' TikTok Ruling Sets Stage For 1st Amendment Battle
The U.S. Supreme Court's landmark ruling upholding a law requiring TikTok's sale sets the stage for an inevitable clash between free speech and government interests and signals that future cases will turn on whether a regulation poses a substantial burden on speech, say attorneys at Dykema.
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What Del. Corporate Law Rework Means For Founder-Led Cos.
Although the amendments to the Delaware General Corporation Law have proven somewhat divisive, they will provide greater clarity and predictability in the rules that apply to founder-led companies navigating transactions concerning controlling stockholders and responding to books-and-records requests, say attorneys at Munger Tolles.
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Series
Baseball Fantasy Camp Makes Me A Better Lawyer
With six baseball fantasy experiences under my belt, I've learned time and again that I didn't make the wrong career choice, but I've also learned that baseball lessons are life lessons, and I'm a better lawyer for my time at St. Louis Cardinals fantasy camp, says Scott Felder at Wiley.
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Series
Adapting To Private Practice: From Fed. Prosecutor To BigLaw
Making the jump from government to private practice is no small feat, but, based on my experience transitioning to a business-driven environment after 15 years as an assistant U.S. attorney, it can be incredibly rewarding and help you become a more versatile lawyer, says Michael Beckwith at Dickinson Wright.
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How Del. Supreme Court, Legislature Have Clarified 'Control'
The Delaware Supreme Court's January decision in In re: Oracle and the General Assembly's passage of amendments to the Delaware General Corporation Law this week, when taken together, help make the controlling-stockholder analysis clearer and more predictable for companies with large stockholders, say attorneys at Baker Botts.
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Firms Still Have Lateral Market Advantage, But Risks Persist
Partner and associate mobility data from the fourth quarter of 2024 shows that we’re in a new, stable era of lateral hiring where firms have the edge, but leaders should proceed cautiously, looking beyond expected revenue and compensation analyses for potential risks, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
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What Rodney Hood's OCC Stint Could Mean For Banking
Acting Comptroller of the Currency Rodney Hood's time at the helm of the OCC, while temporary, is likely to feature clarity for financial institutions navigating regulations, the development of fintech innovation, and clearer expectations for counsel advising on related matters, say attorneys at Vedder Price.
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Opinion
We Must Allow Judges To Use Their Independent Judgment
As two recent cases show, the ability of judges to access their independent judgment crucially enables courts to exercise the discretion needed to reach the right outcome based on the unique facts within the law, says John Siffert at Lankler Siffert & Wohl.
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Series
Performing Stand-Up Comedy Makes Me A Better Lawyer
Whether I’m delivering a punchline on stage or a closing argument in court, balancing stand-up comedy performances and my legal career has demonstrated that the keys to success in both endeavors include reading the room, landing the right timing and making an impact, says attorney Rebecca Palmer.
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3 Del. Bankruptcy Cases Highlight US Trustee Objections
As three recent Delaware bankruptcy cases show, debtors who seek approval of a stalking horse bid protections agreement should be prepared for the U.S. Trustee Office's objections, including if the proposed classification for the bid protections is a superpriority administrative expense claim, says Kyle Arendsen at Squire Patton.
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How 2025 Is Shaping The Future Of Bank Mergers So Far
Whether the long-anticipated great wave of consolidation in the U.S. banking industry will finally arrive in 2025 remains to be seen, but the conditions for bank mergers are more favorable now than they have been in years, say attorneys at Skadden.
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Series
Adapting To Private Practice: From SEC To BigLaw
As I adjusted to the multifaceted workflow of a BigLaw firm after leaving the U.S. Securities and Exchange Commission, working side by side with new colleagues on complex matters proved the fastest way to build a deep rapport and demonstrate my value, says Jennifer Lee at Jenner & Block.
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China High Court Ruling Could Encourage Antitrust Litigation
Practitioners defending U.S. companies in China should take note of a Chinese Supreme Court ruling that plaintiffs can file suits based on either where the alleged action, or where the result of such action, occurred — which will promote civil litigation by minimizing procedural battles over forum selection, says Yang Yang at Leaqual Law Firm.
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Making The Case For Rest In The Legal Profession
For too long, a culture of overwork has plagued the legal profession, but research shows that attorneys need rest to perform optimally and sustainably, so legal organizations and individuals must implement strategies that allow for restoration, says Marissa Alert at MDA Wellness, Carol Ross-Burnett at CRB Global, and Denise Robinson at The Still Center.