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Mergers & Acquisitions

  • June 20, 2019

    DOJ Sues To Stop Printing Co. Quad's $1.4B LSC Buy

    The U.S. Department of Justice on Thursday sued Quad/Graphics Inc. to halt the printing company’s planned $1.4 billion acquisition of a competitor, LSC Communications Inc., arguing the combined businesses would have too much market power.

  • June 20, 2019

    2 Firms Steer Macquarie's £265M UK Construction Biz Buy

    Australian investment bank Macquarie Group will buy U.K.-based construction company Premier Technical Services Group in a £265.3 million ($332.6 million) deal steered by Pinsent Masons LLP and Travers Smith LLP, PTSG said Thursday.

  • June 20, 2019

    US Trustee Flags Ch. 11 Sale Restrictions In Bid For Aegerion

    The federal bankruptcy watchdog cried foul on Thursday about Amryt Pharma PLC's $400 million bid for embattled specialty drug company Aegerion, saying overly restrictive rules proposed by the pair could prevent other bids from coming in and "predetermine the outcome" of Aegerion's bankruptcy auction.

  • June 20, 2019

    Deals Rumor Mill: UnitedHealth, Fortress, Chevron Phillips

    UnitedHealth is reportedly buying PE-backed health care payments company Equian for $3.2 billion, Fortress Investment is said to be looking at options for CoreVest, and a Phillips 66 and Chevron Corp. joint venture has reportedly lobbed a $15 billion bid for Nova Chemicals Corp.

  • June 20, 2019

    DOJ Clears $35B Harris-L3 Deal With Night Vision Spinoff

    The U.S. Department of Justice said Thursday that defense contractors Harris Corp. and L3 Technologies are clear to move forward with their $35 billion combination, with Harris having committed to putting its night vision business on the block.

  • June 20, 2019

    CVS Denies Aetna Deal Reverses Efforts To Cut Drug Prices

    CVS has told a D.C. federal judge that the drugstore chain’s $69 billion megadeal with Aetna won’t interfere with its pharmacy benefit manager’s push to cut drug prices, despite what groups opposed to the merger contend.

  • June 20, 2019

    ISN Merger Suit Decision Is 'Written,' NY Judge Warns Attys

    A New York state court judge heard oral arguments Thursday from investment firms Polaris and Ad-Venture and then cryptically told attorneys that he had already penned a ruling, repeatedly suggesting they settle their scuffle over an acrimonious private equity buyout.

  • June 20, 2019

    Zimmer Biomet Hit With Chancery Suit Over $2B PE Cashout

    Medical device manufacturer Zimmer Biomet has been hit with a derivative suit in Delaware Chancery Court alleging company officers hid compliance problems at a factory that led to a stock drop when they came to light, while two directors helped private equity funds cash out to the tune of nearly $2 billion before stock prices plummeted.

  • June 20, 2019

    Billionaire's Exit From Cancer Drug Co. Gets OK In Del.

    The Delaware Chancery Court approved a settlement proposal Thursday to end a stockholder derivative suit over the management of an immunotherapy company by allowing billionaire physician Patrick Soon-Shiong to walk away from his controlling interest in the company with his investment in hand.

  • June 20, 2019

    GSK Tries To Address EU Concerns Over Pfizer Merger

    GlaxoSmithKline appears to have offered concessions to the European Commission in the hopes of assuaging the European antitrust enforcer's concerns about its plans to merge its consumer health business with Pfizer's.

  • June 20, 2019

    Promise Healthcare's $10M Trim To Ch. 11 Sale Gets Tepid Nod

    Conceding he had concerns about the deal, a Delaware bankruptcy judge on Thursday approved a marked-down, $25 million, two-hospital Chapter 11 asset purchase agreement proposed by Promise Healthcare Group LLC, while encouraging efforts to line up a fallback buyer.

  • June 20, 2019

    TDR Capital Lobs $2.4B Takeover Offer For Used Car Seller

    BCA Marketplace's board on Thursday said it received a cash takeover offer from investment funds managed by London-based private equity firm TDR Capital that values the used vehicle auctioneer's shares at roughly £1.9 billion ($2.4 billion).

  • June 20, 2019

    Holland & Knight Lands Private Equity Pro In Miami Office

    A former McDermott Will & Emery attorney with experience guiding transactions in the health care industry has joined Holland & Knight's private equity practice as a partner in the firm's Miami office.

  • June 20, 2019

    Fintech-Focused South Mountain Prices Upsized $225M IPO

    Blank check company South Mountain Merger began trading Thursday after raising $225 million in a Paul Weiss-led initial public offering that will be used to buy a company in the financial technology industry.

  • June 20, 2019

    FTC Commissioner Wants To Bring The Hard Merger Cases

    Commissioner Rebecca Kelly Slaughter of the Federal Trade Commission said Thursday that the agency should sue to block deals it believes are anti-competitive, even if there's doubt the challenge will be successful.

  • June 20, 2019

    Malaysia's Paramount Scores $130M In Education Unit Deal

    Malaysian investment holding company Paramount said Thursday it will shed majority stakes in a trio of education businesses in a 540.5 million Malaysian ringgit ($130.3 million) deal, handing control over to an entity financed by a unit of TPG Capital.

  • June 19, 2019

    Promise Healthcare Creditors Slam $10M Ch. 11 Deal Trim

    Unsecured creditors of bankrupt Promise Healthcare Group LLC on Wednesday blasted a debtor proposal to chop $10 million from a two-hospital sale agreement repeatedly breached by the prospective buyer, saying deal salvage terms would harm the Delaware Chapter 11 estate.

  • June 19, 2019

    State AGs In Dicey Waters With Sprint-T-Mobile Challenge

    A federal court in New York will hold its first hearing Friday in a lawsuit filed by a contingent of states seeking to block the merger of Sprint and T-Mobile. And while the case is still in its early stages, it’s becoming clear that its direction will largely depend on the U.S. Department of Justice’s review of the deal.

  • June 19, 2019

    AbbVie, Investors Reach $17M Deal Over Failed Inversion

    Drugmaker AbbVie Inc. has reached a $16.75 million agreement to settle a claim that it misled investors about the risks of its failed $54 billion merger with Irish pharmaceutical company Shire PLC, according to documents filed Wednesday in Illinois federal court.

  • June 19, 2019

    Deals Rumor Mill: Slack, KKR, GlaxoSmithKline

    The reference price for Slack Technologies’ initial public offering is set at $26 per share, KKR is getting ready to sell part of its stake in Weststar Aviation Services, and GlaxoSmithKline has launched an effort to sell some of its consumer health brands.

  • June 19, 2019

    Vintage Capital Threatens To Oust Most Of Red Robin's Board

    Vintage Capital threatened Wednesday to oust five Red Robin directors, contending the burger chain's "unwillingness" to conduct a strategic review or respond to the private equity firm's $518.6 million purchase offer raises questions about the board's motivations.

  • June 19, 2019

    Colo. AG Deal Spares FTC 2-2 Split On UnitedHealth Merger

    The Federal Trade Commission nearly deadlocked Wednesday on a deal that cleared UnitedHealth Group health services subsidiary Optum’s $4.3 billion purchase of DaVita’s independent medical clinic operator, with the logjam cleared only because of a separate deal between the companies and Colorado’s attorney general.

  • June 19, 2019

    Fieldfisher Steers Blue Prism's £80M Automation Biz Buy

    U.K.-based software corporation Blue Prism said Wednesday it has agreed to buy cloud-based, artificial intelligence-based automation platform Thoughtonomy for £80 million ($101.2 million) in a deal guided by Fieldfisher that will make Blue Prism's services more widely available.

  • June 19, 2019

    Pulling Up Stakes: Nelson Mullins, MoFo, Akin Gump

    In our latest roundup of deal makers on the move, Nelson Mullins snagged a corporate and securities specialist in Washington, D.C., Morrison & Foerster brought on a Los Angeles funds partner and strengthened its Chinese capital markets and corporate practices, and Akin Gump added a capital markets pro in Dubai.

  • June 19, 2019

    MoFo Launches Latin America Desk With New Miami Office

    Morrison & Foerster LLP launched a new Latin America desk Wednesday to build out its capabilities in the region, as it officially opened its Miami office with nine Latin America-focused transactional attorneys from Greenberg Traurig LLP.

Expert Analysis

  • 3 Law Firm Business Tactics To Support A Niche Practice

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    Once you've chosen a strategy for your law firm, what tactics will promote success? There are three tactical areas important to all firms, regardless of specialty or size, but particularly critical for today’s niche firms, say Yussuf Aleem and Jacob Slowik of Joseph Aleem.

  • Del. Courts Continue Limiting Books And Records Demands

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    As stockholders make increasing use of statutory demands to inspect a corporation’s books and records, Delaware courts have been imposing additional limitations on this litigation tool, specifically in the areas of email production requests and statutorily exculpated conduct, say Matt Solum and Stephanie Shimada of Kirkland.

  • Key Takeaways From OFAC’s Compliance Program Guidance

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    Recent guidance from the U.S. Department of the Treasury’s Office of Foreign Assets Control represents the agency's most complete articulation to date of the elements of an effective sanctions compliance program, and is likely to be viewed as a key benchmark for such programs going forward, say attorneys at Ropes & Gray.

  • Real-Life Lessons For Lawyers From 'Game Of Thrones'

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    What lessons can the various hands, maesters, council members and other advisers in "Game of Thrones" impart to real-life lawyers? Quite a few, if we assume that the Model Rules of Professional Conduct were adopted by the Seven Kingdoms, says Edward Reich of Dentons.

  • Recent Chancery Rulings Offer Forum Selection Pointers

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    In the recent Sheldon v. Pinto ruling, the Delaware Court of Chancery displays skepticism of dilution claims by early-stage investors, reasserts control group principles and delivers reminders — reinforced in its Plaze v. Callas opinion — of key points in the drafting of forum selection clauses, say attorneys at Fried Frank.

  • 5 Tips To Help Your Summer Associates Succeed

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    There are a number of ways that attorneys can ensure their summer associates successfully manage critical writing assignments and new types of professional interactions, says Julie Schrager of Schiff Hardin.

  • What Antitrust Attys Need To Know About Labor Monopsony

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    Economists for a long time assumed that labor markets are competitive and do not pose any problems for antitrust law. But new research has shown that this assumption is wildly inaccurate, says Eric Posner of MoloLamken.

  • Keys To Communicating A Law Firm's Mission

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    Today’s law firm leaders are pretty good at developing a strategic vision for the enterprise, but there is often a disconnect between that road map and the marketing department’s rank and file, leading to a deliverable that does little to differentiate the firm, says José Cunningham, a legal industry consultant.

  • US Cos. With Foreign Affiliates Should Note OFAC Settlement

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    A recent sanctions violation settlement between the U.S. Treasury Department's Office of Foreign Assets Control and Stanley Black & Decker and its Chinese subsidiary sets out compliance commitments that U.S. companies with foreign affiliates should use as guidance, say Nevena Simidjiyska and Michelle Rosenberg of Fox Rothschild.

  • Opinion

    How Lawyers Can Help Save The Planet

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    Over a dozen major law firms have joined our effort to overcome the legal obstacles that states, cities and businesses face in fighting climate change. But more lawyers are needed, say Michael Gerrard of Columbia Law School and John Dernbach of Widener University Commonwealth Law School.

  • Revisiting When — And When Not — To Seek Appraisal

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    After a string of recent Delaware Supreme Court decisions, it appears that seeking a court's independent appraisal of a deal price may be relevant only in the context of certain limited factual scenarios, say Michael Maimone and Joseph Schoell of Drinker Biddle.

  • Union Of Tech, Life Sciences And Health Care Is Here To Stay

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    The growing number of high-profile convergence deals between life sciences, health care and technology companies is creating both opportunities and challenges for the business and legal professionals who implement such complex arrangements, say attorneys at Goodwin.

  • Q&A

    A Chat With Gilead Sciences Legal Ops Leader Gary Tully

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    In this monthly series, legal recruiting experts from Major Lindsey & Africa interview legal industry leaders about the increasingly competitive business environment. Here, Rod Osborne talks with Gary Tully, head of legal operations at Gilead Sciences.

  • Series

    Why I Became A Lawyer: Completing The Journey Home

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    My mother's connection to her Native American heritage had a major influence on my career — my decision to enter the legal profession was driven by the desire to return to my tribal community and help it in any way I could, says Jason Hauter of Akin Gump.

  • Series

    Judging A Book: Wood Reviews 'The Making Of A Justice'

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    Retired U.S. Supreme Court Justice John Paul Stevens' new book, "The Making of a Justice," is required reading for anyone interested in 20th and 21st century America, says Seventh Circuit Chief Judge Diane Wood.

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