Mergers & Acquisitions

  • May 08, 2024

    Cannabis Law Firm Accused Of $5M Error In Pot Shop Deal

    A cannabis retailer has sued Vicente LLP in Massachusetts state court, alleging the law firm negligently drafted an amendment to a purchase agreement that prevented the company from recovering nearly $5 million in damages when the deal fell through.

  • May 08, 2024

    Shockwave Medical Investor Challenges $13B Deal With J&J

    A shareholder of cardiovascular treatment company Shockwave Medical Inc. is attempting to halt the company's "unfair" $13 billion proposed transaction with Johnson & Johnson by filing a securities suit, saying the transaction will only benefit company insiders and damage public shareholders.

  • May 08, 2024

    Icahn, Xerox Investors Settle Nixed HP Merger Suit For $2.2M

    Carl Icahn will pay $2.2 million to Xerox under an agreement reached with a pair of the company's stockholders, who accused the billionaire investor in a consolidated shareholder derivative lawsuit of trading on non-public information regarding Xerox's now-doomed bid to acquire HP Inc. for $33 billion.

  • May 08, 2024

    Japanese Crypto Exchange Coincheck Eyes US Listing In '24

    Simpson Thacher-led Japanese cryptocurrency exchange Coincheck Group BV plans to complete a long-awaited merger with a special-purpose acquisition company by the year's second or third quarter, a combination that would make it the second U.S.-listed crypto venue.

  • May 08, 2024

    Reed Smith Lands Kirkland Corporate Pro In Houston

    A former Kirkland & Ellis partner has joined Reed Smith LLP's Houston office as a capital markets and corporate lawyer, the firm announced Wednesday.

  • May 08, 2024

    Gibson Dunn Adds Ex-Wachtell, Paul Weiss Attys As Partners

    Gibson Dunn & Crutcher LLP has added a former Wachtell Lipton Rosen & Katz corporate attorney and a former Paul Weiss Rifkind Wharton & Garrison LLP lawyer who specializes in liability management as partners in New York, the firm has announced.

  • May 08, 2024

    HSF, Ashurst-Led Ardonagh Buys Insurer For $1.5B

    U.K. insurance broker Ardonagh Group Ltd. said on Wednesday it has agreed to acquire Australia-based PSC Insurance Group Ltd. in a transaction worth $2.25 billion Australian dollars ($1.48 billion), to help it expand into new markets.

  • May 07, 2024

    Novant CEO Vows To Improve Hospitals Facing FTC Scrutiny

    Novant Health kicked off its defense Tuesday in the Federal Trade Commission's $320 million merger challenge with testimony from its longtime CEO, who vocalized the health system's promise to reinvest in the two struggling hospitals at the center of the case.

  • May 07, 2024

    Fashion Cos. Say FTC Bid To Ax $8.5B Deal 'Makes No Sense'

    The Federal Trade Commission's move to block the owner of Coach and Kate Spade from buying the owner of Michael Kors and Jimmy Choo for $8.5 billion "makes no sense," the companies argued in response, saying they aren't the only handbag brands in the game.

  • May 07, 2024

    Canopy Growth Expands In US With Wana, Jetty Buys

    Canadian cannabis company Canopy Growth announced Tuesday that its U.S. division has exercised options to acquire two American companies as part of its goal to establish a domestic "brand-focused powerhouse" — acquisitions for which Canopy spent nearly $370 million.

  • May 07, 2024

    Trump Media Co-Founders Seek Chancery Contempt Order

    Two early investors in Trump Media & Technology Group have called for a Delaware Court of Chancery contempt ruling against Donald Trump's Truth Social media company, saying its attempt to claim their shares in a Florida lawsuit contradicted earlier representations in Delaware.

  • May 07, 2024

    MultiPlan, Insurance Cos. Accused Of Algorithmic Collusion

    A medical provider has lodged a proposed class action in Illinois federal court accusing MultiPlan and major insurance companies, including UnitedHealth, Aetna, Kaiser Permanente and Cigna, of using pricing tools to systematically underpay out-of-network providers.

  • May 07, 2024

    Venable Trade Co-Chair Shares Hot Takes On US Steel-Nippon

    Back in December, Venable LLP partner Ashley Craig, co-chair of the firm's international trade group, spoke with Law360 just after U.S. Steel disclosed its agreement to be sold to Nippon Steel. Now, he shares his thoughts on the latest developments, including the White House coming out forcefully against the deal and the U.S. Department of Justice launching a probe into it.

  • May 07, 2024

    Colo. Judge Iffy On DOJ's Missive In Kroger Merger Challenge

    A Colorado state judge said he was unsure Tuesday about how to handle the Department of Justice's recent filing defending the state's authority to challenge Kroger's $24 billion merger with Albertsons, as Kroger claimed federal regulators were flip-flopping their antitrust stance.

  • May 07, 2024

    Everton Investors Bemoan Soccer Team Sale Amid Fraud Suit

    The Everton FC Shareholders Association wants to slam the brakes on the "farce" sale of its Premier League soccer team to private equity firm 777 Partners LLC, arguing they are not qualified owners, a demand that comes as the firm faces allegations of fraud.

  • May 07, 2024

    $55M Hospital Merger Suit Deal OK'd, UHC Objection Rejected

    An Illinois federal judge has given final approval to a $55 million class settlement, with $23.5 million in legal costs and attorney fees, resolving patient antitrust claims over a NorthShore University HealthSystem merger, all while finding that United Healthcare Services had no standing to object to the deal.

  • May 07, 2024

    Plastics Recycler Sued In Del. After Stock Drop, Investigations

    A PureCycle Inc. stockholder has launched a multicount derivative suit against the plastics recycling company's officers and directors in Delaware's Court of Chancery, seeking damages tied to a stock drop, alleged disclosure failures and insider dealings before and after a 2021 take-public merger.

  • May 07, 2024

    Steward Health Gets Ch. 11 Loan, Says It Plans Hospital Sales

    A Texas bankruptcy judge Tuesday allowed Steward Health Care to take out $75 million in Chapter 11 financing to meet its next-day payroll after being told the hospital chain plans to sell facilities to pay down its $9 billion in debt.

  • May 07, 2024

    Truth Social Investor Grilled By Feds At Insider Trading Trial

    A Florida investment pro on trial for allegedly exploiting confidential plans to take Truth Social public in a $23 million insider trading case was challenged Tuesday by prosecutors on the timing of trades and communications before the "special" media deal.

  • May 07, 2024

    Prepetition Waivers Sway Invitae Judge On Kirkland Hire

    A New Jersey bankruptcy judge approved the retention of Kirkland & Ellis LLP as bankruptcy counsel for debtor Invitae Corp. Tuesday, the same day he approved a $239 million sale of its assets to Labcorp.

  • May 07, 2024

    Spirit Aerosystems Eyes Buyout By Boeing Amid Safety Probe

    Boeing is in talks to acquire aerospace supplier Spirit AeroSystems, which took a first-quarter hit partly due to Boeing 737 production delays and a safety investigation resulting from a midair 737 door plug blowout in January, Spirit announced Tuesday.

  • May 07, 2024

    Alight Inks Deal With Activist Starboard For 2 New Directors

    Alight Inc., a cloud-based human capital and technology services provider, said Tuesday it has agreed to appoint two new independent directors to its board through an agreement with activist investor Starboard Value LP. 

  • May 07, 2024

    Fenwick-Led Cloud Security Co. Raises $1B At $12B Valuation

    New York-headquartered cloud security company Wiz, advised by Fenwick & West LLP, announced on Tuesday that it hit a $12 billion valuation after securing $1 billion in its latest fundraising round.

  • May 07, 2024

    TikTok Urges DC Circ. To Ax 'Unprecedented' Divestment Bill

    TikTok on Tuesday lodged its highly anticipated challenge to a new federal law that would exclude the popular app from the U.S. market unless it cuts ties with its Chinese parent company, telling the D.C. Circuit that the measure amounts to an unconstitutional and unprecedented ban on free speech. 

  • May 07, 2024

    Corlytics Acquires Deloitte UK RegTech Platform

    Less than a year after acquiring compliance software provider Clausematch, Irish regulatory risk business Corlytics Ltd. announced Tuesday that it has also acquired a digital RegTech platform from Deloitte UK.

Expert Analysis

  • What The Law Firm Of The Future Will Look Like

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    As the legal landscape shifts, it’s become increasingly clear that the BigLaw business model must adapt in four key ways to remain viable, from fostering workplace flexibility to embracing technology, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • The Year Ahead In Foreign Investment And National Security

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    In 2024, expect the Committee on Foreign Investment in the United States, already at the forefront of addressing national security threats, to increase monitoring and enforcement related to outbound investment, focus on supply chain resilience in nondefense sectors, and heighten oversight of agricultural transactions, say attorneys at Holland & Knight.

  • 4 PR Pointers When Your Case Is In The News

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    Media coverage of new lawsuits exploded last year, demonstrating why defense attorneys should devise a public relations plan that complements their legal strategy, incorporating several objectives to balance ethical obligations and advocacy, say Nathan Burchfiel at Pinkston and Ryan June at Castañeda + Heidelman.

  • Antitrust Enforcement Initiatives To Watch In 2024

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    The U.S. Department of Justice is likely to prioritize information-sharing prosecutions in 2024, following last year's withdrawal of safe harbors, as well as labor market enforcement after trial losses forced a pullback in 2023, say attorneys at Fried Frank.

  • Law Firm Strategies For Successfully Navigating 2024 Trends

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    Though law firms face the dual challenge of external and internal pressures as they enter 2024, firms willing to pivot will be able to stand out by adapting to stakeholder needs and reimagining their infrastructure, says Shireen Hilal at Maior Consultants.

  • The Most-Read Legal Industry Law360 Guest Articles Of 2023

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    A range of legal industry topics drew readers' attention in Law360's Expert Analysis section this year, from associate retention strategies to ethical billing practices.

  • What The 2023 Bank Failures Taught Us, And What's To Come

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    As 2023 draws to a close, it's apparent that the bank failures this past spring sparked a seismic shift in the regulatory and supervisory landscape for banking organizations, and the consequences are still continuing to be felt throughout the financial sector as we head into 2024, say attorneys at Morgan Lewis.

  • Trends Shaping The 2024 Consumer Packaged Goods Industry

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    The better-for-you segment within the consumer packaged goods industry is poised for a significant evolution in 2024, and industry players must remain agile and adaptive through M&A activities, legal considerations, sustainability initiatives and changing technology, says Christopher Cain at Foley & Lardner.

  • Attorneys' Busiest Times Can Be Business Opportunities

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    Attorneys who resolve to grow their revenue and client base in 2024 should be careful not to abandon their goals when they get too busy with client work, because these periods of zero bandwidth can actually be a catalyst for future growth, says Amy Drysdale at Alchemy Consulting.

  • In The World Of Legal Ethics, 10 Trends To Note From 2023

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    Lucian Pera at Adams and Reese and Trisha Rich at Holland & Knight identify the top legal ethics trends from 2023 — including issues related to hot documents, artificial intelligence and cybersecurity — that lawyers should be aware of to put their best foot forward.

  • Del. Dispatch: The 2023 Corporate Cases You Need To Know

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    Corporate and mergers and acquisitions litigation has continued at a fevered pace this year, with the Delaware courts addressing numerous novel issues with important practical implications, including officer exculpation and buyer aiding-and-abetting liability, say attorneys at Fried Frank.

  • How Attorneys Can Be More Efficient This Holiday Season

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    Attorneys should consider a few key tips to speed up their work during the holidays so they can join the festivities — from streamlining the document review process to creating similar folder structures, says Bennett Rawicki at Hilgers Graben.

  • Exploring Middle-Market M&A Trends In 2023 And Beyond

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    Middle-market merger and acquisition activity this year was affected by a number of economic, legal and regulatory shifts, with certain trends pointing to favorable transaction conditions in 2024, say Jason Brauser and William Goodling at Stoel Rives.

  • Understanding Advance Notice Bylaws Is Key For All Parties

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    Recent developments in Delaware case law show that advance notice bylaws will be strictly construed and that Delaware courts will generally uphold clear, unambiguous bylaws adopted and applied reasonably, a lesson for both companies and stockholders alike as the number of companies rejecting director nominations by dissident stockholders has increased, say attorneys at MoFo.

  • A Former Bankruptcy Judge Talks 2023 High Court Rulings

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    In 2023, the U.S. Supreme Court issued four bankruptcy law opinions — an extraordinary number — and a close look at these cases signals that changes to the U.S. Bankruptcy Code will have to come from Congress, not the courts, says Phillip Shefferly at the University of Michigan Law School.

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