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Mergers & Acquisitions
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October 10, 2025
Rite Aid Fires Back At Claims It Broke CVS Sale Deal
Bankrupt drugstore chain Rite Aid Friday defended its decision to not pay for druggist insurance to cover ex-employees at pharmacies it has sold to former competitor CVS, while saying CVS has breached the sale deal itself by withholding its final payment.
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October 10, 2025
Freshfields Guides BASF On €7.7B Sale Of Coatings Biz Stake
German chemicals producer BASF has agreed to sell a majority interest in its coatings division to investment company Carlyle and the Qatar Investment Authority, in a transaction that values the offloaded company at €7.7 billion ($8.9 billion), the companies said on Friday.
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October 10, 2025
Warburg Pincus Gets More Time For JTC Bid Decision
JTC said Friday that Warburg Pincus LLC has been given a further two weeks to say whether it plans to make an offer to acquire the professional services company.
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October 09, 2025
Teamsters Want Court To Reconsider Maverick Gaming Sale
A Teamsters local asked a Texas bankruptcy judge to rethink his order permitting RunItOneTime LLC to sell assets to a company managed by one of its founders, saying the bankruptcy court lacked jurisdiction to decide that the two weren't essentially the same business.
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October 09, 2025
Voyager Judge Won't Dismiss Contract Claims In Binance Suit
A New York bankruptcy judge said Thursday he expected to deny a request by Binance.US to dismiss Voyager Digital's breach of contract claims stemming from a collapsed asset purchase agreement between the two cryptocurrency ventures.
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October 09, 2025
Vestis Shareholder Alleges Deception Before Aramark Spinoff
Executives and directors of uniform supplier Vestis Corp. were hit this week with a shareholder's derivative suit accusing them of concealing Vestis was underfunded prior to being spun off by food services giant Aramark in 2023, leaving Vestis unable to grow its revenue and retain customers.
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October 09, 2025
Q3 Notches Biggest Megadeal Quarter In Three Years
The value of global mergers and acquisitions worth $10 billion or more hit $289.5 billion in the third quarter, the highest since the second quarter of 2022, according to a report provided by S&P Global Market Intelligence on Thursday.
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October 09, 2025
Paramount Eyes $60B Warner Bid, And Other Rumors
Paramount Skydance is in talks with private equity firms including Apollo Global Management as it mulls a potential $60 billion bid for Warner Bros. Discovery. Another mega-deal that's further along its path to closing — Mars' $36 billion bid to acquire Kellanova — is set to win European antitrust approval. And Armani has approached potential buyers to sell a minority stake in the first phase of late designer Giorgio Armani's wishes.
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October 09, 2025
Tivity Health Investors Seek Final OK Of $17M Settlement
An investor in fitness program administrator Tivity Health Inc. has asked a Nashville federal judge for a final nod for an over $17 million deal ending claims the company misled investors about its financial prospects after its $1.3 billion acquisition of troubled weight-loss meal delivery company Nutrisystem.
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October 09, 2025
Greenberg Traurig's Singapore Office Gains 6 More Attys
Greenberg Traurig LLP announced on Wednesday that its Singapore location has added the former leader of Simmons & Simmons LLP's Asian investment funds practice, along with five other attorneys.
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October 09, 2025
Ropes, Kirkland Guide $5.2B Novo Nordisk Liver Disease Deal
Novo Nordisk said on Thursday it will acquire U.S.-based Akero Therapeutics for up to $5.2 billion in cash, expanding its portfolio into metabolic liver disease in a deal steered by Ropes & Gray LLP and Kirkland & Ellis LLP.
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October 09, 2025
Nordic Capital, Permira $3B Vaccine Biz Buy Wins EU Nod
The European Commission has approved the all-cash 19 billion Danish kroner ($2.95 billion) takeover of Bavarian Nordic A/S by private equity firms Nordic Capital and Permira, the vaccine maker said Thursday.
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October 09, 2025
Big Lots Gets OK For $6.5M Deal On Exec Claims
A Delaware bankruptcy judge on Thursday approved a $6.5 million settlement between retail chain Big Lots and its directors and officers, resolving claims by unsecured creditors that the company's board bungled an attempt to sell the company last year.
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October 09, 2025
HSBC To Privatize Hang Seng Bank In $14B Deal
HSBC Holdings PLC said Thursday that it plans to pull Hang Seng Bank Ltd. from Hong Kong's stock exchange in a HK$106 billion ($13.6 billion) deal, as the British lender seeks to broaden its footprint in Asia.
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October 08, 2025
Cepton Accused By Investor Of Hiding Better Takeover Bid
Light detection and ranging technology company Cepton Inc. has been hit with a shareholder's proposed class action in California federal court, accusing it of concealing a third party's "credible" attempt to buy Cepton for more than double the amount Japan-based Koito Manufacturing Inc. paid to acquire it in January.
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October 08, 2025
Jones Day, Kirkland Guide TopBuild's $1B Insulation Biz Buy
TopBuild Corp., an installer and distributor of insulation and related building materials in North America, said Wednesday it has acquired Specialty Products and Insulation for $1 billion in cash, with Jones Day advising TopBuild and Kirkland & Ellis LLP guiding SPI.
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October 08, 2025
Gov't Shutdown Essentially 'Freezes' IPO Market, Attys Say
While the U.S. Securities and Exchange Commission technically remains open during the ongoing government shutdown that has now exceeded one week, staffing shortages have made it increasingly difficult for companies to launch initial public offerings, leaving them with few options.
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October 08, 2025
Musk Ordered To Explain Attys' Role In Twitter Dispute
Elon Musk must explain whether he plans to argue that he relied on legal advice to defend himself against a dispute over his acquisition of an ownership stake in Twitter, with a New York federal judge saying Musk's statements on the matter have so far been contradictory.
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October 08, 2025
MoFo Guides SoftBank To Buy ABB's Robotics Unit for $5.4B
Japanese tech investor SoftBank will buy the robotics division of Swedish-Swiss electrical engineering business ABB Ltd. for $5.375 billion in order to strengthen its artificial superintelligence offering, the companies said Wednesday.
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October 07, 2025
5th Circ. Queries If ChampionX Covered In $40M Oil Spill Suit
A Fifth Circuit panel Tuesday pressed ChampionX Corp. to explain how it can pursue a lawsuit in Texas seeking to make multiple insurers pay for its defense in a $40 million oil spill lawsuit if the underlying policies don't name it.
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October 07, 2025
Cabinetry Co. Refiles $3.6B Merger To Give FTC More Time
Kitchen cabinet and vanity manufacturer American Woodmark Corp. has withdrawn and refiled its intent to merge with MasterBrand in a $3.6 billion deal in order to give the Federal Trade Commission more time to scrutinize the deal for competition concerns.
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October 07, 2025
Emisphere Shareholder Wants Out Of $32M Class Settlement
A major shareholder of Emisphere Technologies has objected to a proposed $32 million settlement in a suit challenging the $1.8 billion sale of the biotechnology company to Novo Nordisk A/S, arguing that the terms of the deal are too low and unfairly benefit Emisphere's controlling shareholder.
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October 07, 2025
Prospect Medical Fights $1M Software Fee Claims In Ch. 11
Prospect Medical Holdings Inc. says the pending Chapter 11 proceedings for its hospitals in California and Connecticut should keep two technology companies from demanding more than $1 million in payment for disputed software and IT contracts, according to Prospect's filings with a Texas bankruptcy court on Monday.
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October 07, 2025
Musk Atty Alex Spiro Faces DQ Bid Ahead Of Twitter Deal Trial
A certified class of former Twitter investors accusing Elon Musk of tanking the social media platform's stock during acquisition negotiations has urged a California federal judge to disqualify Musk's proposed lead trial counsel Alex Spiro before a January trial, arguing he's a "critical first-hand witness" and may testify, according to documents unsealed Monday.
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October 07, 2025
Dolphin Co. Creditor Balks At Credit Bid For Ch. 11 Sale
A financial intermediary for dolphin park owner Leisure Investment Holdings LLC is asking the Delaware bankruptcy court to prohibit credit bidding in the park owner's Chapter 11 auction in order to preserve its $4 million claim from a judgment in 2017.
Expert Analysis
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How Trump's Trade Policies Are Shaping Foreign Investment
Five months into the Trump administration, investors are beginning to see the concrete effects of the president’s America First Investment Policy as it presents new opportunities for clearing transactions more quickly, while sustaining risk aversion related to Chinese trade and potentially creating different political risks, say attorneys at Covington.
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Series
My Opera And Baseball Careers Make Me A Better Lawyer
Though participating in opera and the world of professional baseball often pulls me away from the office, my avocations improve my legal career by helping me perform under scrutiny, prioritize team success, and maintain joy and perspective at work, says Adam Unger at Herrick Feinstein.
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FTC Focus: Enforcers Study AI Innovation And Entrenchment
The Federal Trade Commission and other regulators setting their sights on the burgeoning artificial intelligence ecosystem are considering how the government should approach innovation in tech markets that tend, almost inevitably, toward concentration, say attorneys at Proskauer.
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8 Ways Lawyers Can Protect The Rule Of Law In Their Work
Whether they are concerned with judicial independence, regulatory predictability or client confidence, lawyers can take specific meaningful actions on their own when traditional structures are too slow or too compromised to respond, says Angeli Patel at the Berkeley Center of Law and Business.
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Assessing New Changes To Texas Officer Exculpation Law
Consistent with Texas' recent modernization of its corporate law, the recently passed S.B. 2411 allows officer exculpation, streamlines certificate of formation amendments, authorizes representatives to act on shareholders' behalf in mergers and makes other changes aimed toward companies seeking a more codified, statutory model of corporate governance, say attorneys at Bracewell.
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Series
Law School's Missed Lessons: Communicating With Clients
Law school curricula often overlook client communication procedures, and those who actively teach this crucial facet of the practice can create exceptional client satisfaction and success, says Patrick Hanson at Wiggam Law.
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Series
Adapting To Private Practice: From US Rep. To Boutique Firm
My transition from serving as a member of Congress to becoming a partner at a boutique firm has been remarkably smooth, in part because I never stopped exercising my legal muscles, maintained relationships with my former colleagues and set the right tone at the outset, says Mondaire Jones at Friedman Kaplan.
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Spinoff Transaction Considerations For Biotech M&A
Amid current market challenges, boards and management teams of biotech companies can consider several strategies for maximizing value should a spinoff opportunity arise, but not without significant advance planning and careful implementation, particularly in cases that might qualify as tax-free, say attorneys at Paul Hastings.
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Opinion
Senate's 41% Litigation Finance Tax Would Hurt Legal System
The Senate’s latest version of the Big Beautiful Bill Act would impose a 41% tax on the litigation finance industry, but the tax is totally disconnected from the concerns it purports to address, and it would set the country back to a time when small plaintiffs had little recourse against big defendants, says Anthony Sebok at Cardozo School of Law.
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Series
Performing As A Clown Makes Me A Better Lawyer
To say that being a clown in the Macy’s Thanksgiving Day Parade has changed my legal career would truly be an understatement — by creating an opening to converse on a unique topic, it has allowed me to connect with clients, counsel and even judges on a deeper level, says Charles Tatelbaum at Tripp Scott.
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Series
Law School's Missed Lessons: Rejecting Biz Dev Myths
Law schools don’t spend sufficient time dispelling certain myths that prevent young lawyers from exploring new business opportunities, but by dismissing these misguided beliefs, even an introverted first-year associate with a small network of contacts can find long-term success, says Ronald Levine at Herrick Feinstein.
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Del. Dispatch: General Partner Discretion In Valuing Incentives
In Walker v. FRP Investors, the Delaware Court of Chancery recently held that the general partner of a limited partnership breached its obligations when determining the threshold value of newly issued incentive units, highlighting the court's willingness to reconstruct what a reasonable determination of value by a general partner should have been, say attorneys at Fried Frank.
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Move Beyond Surface-Level Edits To Master Legal Writing
Recent instances in which attorneys filed briefs containing artificial intelligence hallucinations offer a stark reminder that effective revision isn’t just about superficial details like grammar — it requires attorneys to critically engage with their writing and analyze their rhetorical choices, says Ivy Grey at WordRake.
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How Ore. Law Puts New Confines On Corp. Health Ownership
A newly enacted law in Oregon strengthens the state’s restrictions on corporate ownership of healthcare practices, with new limitations on overlapping control, permissible services, restrictive covenants and more making it necessary for practices to review decades-old physician practice arrangements, say attorneys at Ropes & Gray.
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Observations On 5 Years Of Non-Notified CFIUS Inquiries
Since 2020, the Committee on Foreign Investment in the United States has identified and investigated covered cross-border transactions not formally notified to CFIUS, and a look at data from 50 non-notified matters during that time reveals the general dynamics of this enforcement function, say attorneys at Cooley.