Mergers & Acquisitions

  • July 22, 2021

    FINRA Sweeps To Target SPACs, Social Media Influencers

    The Financial Industry Regulatory Authority is planning a trio of regulatory sweeps to address the latest developments causing turbulence in financial markets, including special purpose acquisition companies and social media's "finfluencers," its president and CEO, Robert Cook, said Thursday.

  • July 22, 2021

    Jeld-Wen Asks Judge To Shield Intel On Door Factory Sale

    A doormaker that forced its top competitor to divest a Pennsylvania factory as part of a landmark antitrust verdict should not be handed key information about the sale before other potential bidders, a special master in the case has told a Virginia federal judge.

  • July 22, 2021

    Visa To Buy Orrick-Led Fintech Currencycloud At $962M Value

    Visa said Thursday it will acquire foreign-exchange platform Currencycloud in a deal that values the Orrick-advised financial technology company at £700 million ($962 million).

  • July 22, 2021

    Deals Rumor Mill: GlobalFoundries, General Electric, Zoom

    The CEO of chipmaker GlobalFoundries downplayed reports of a potential $30 billion megadeal with Intel, European antitrust authorities will unconditionally approve the $30 billion merger of GE Capital Aviation and AerCap, and Zoom may participate in a SPAC deal. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

  • July 22, 2021

    Uber Pays $2.25B For Logistics Co. In Deal Driven By 4 Firms

    The freight-booking business of Uber Technologies Inc. will pay $2.25 billion to acquire private equity-backed transportation logistics company Transplace in a transaction aided by four law firms, the companies said Thursday.

  • July 22, 2021

    Autonomy CEO Loses Bid To Block Extradition Over HP Sale

    A London judge ruled Thursday that British technology entrepreneur Mike Lynch should be extradited to the U.S. to face fraud and conspiracy charges stemming from the $11.7 billion sale of his software firm to Hewlett-Packard.

  • July 21, 2021

    FTC Pulls 'Prior Approval' Stance, Issues Repair Policy

    The Federal Trade Commission on Wednesday voted to repeal a long-standing policy that has allowed parties to merger clearance settlements to avoid heightened scrutiny of subsequent deals.

  • July 21, 2021

    Starwood Capital Bids $1.9B For Stroock-Led Monmouth

    Starwood Capital Group said Wednesday that it made an increased $1.92 billion cash offer for the Stroock-led real estate investment trust Monmouth to induce its investors to reject the REIT's May agreement to be acquired by a competing investor.

  • July 21, 2021

    Illumina 'Wasting Court Time' With Deal Overtures, FTC Says

    Federal Trade Commission staffers contesting biotech giant Illumina's planned $8 billion purchase of cancer detection company Grail assailed the companies Tuesday for seeking a settlement conference in the in-agency challenge process, arguing the firms aren't sincere and are really just trying to get an advanced peak at FTC tactics.

  • July 21, 2021

    Dems Ask FCC For Assurances On Verizon-Tracfone Merger

    Democratic lawmakers are concerned that Verizon's $6.9 billion plan to pick up prepaid mobile company TracFone Wireless could be bad news for lower income customers and have asked the Federal Communications Commission to take steps to protect them.

  • July 21, 2021

    DOJ May Reach Partial Settlement In Aon-Wills Merger

    The U.S. Department of Justice may be able to reach a settlement with Aon PLC and Willis Towers Watson on three out of the five markets the agency alleged the insurance brokers' $30 billion proposed merger negatively impacts.

  • July 21, 2021

    Union Sues In Del. For Docs On $2.8B At Home Group Merger

    An Illinois union pension fund has sued At Home Group Inc. in Delaware for release of documents on its proposed $2.8 billion acquisition by private equity firm Hellman & Friedman, arguing that the deal lowballs the company and grants outsized benefits to its CEO.

  • July 21, 2021

    Propane Co., ESOP Trustee Drop Hostile Takeover Suit

    A propane supplier and an employee stock ownership plan trustee have resolved a lawsuit claiming the trustee violated federal benefits law by breaching its duty to look out for the workers' interests and trying to seize control of the company.

  • July 21, 2021

    Cooley, Kirkland Craft SPAC Merger For $4.3B Bitcoin Miner

    Cryptocurrency miner Core Scientific will go public at a roughly $4.3 billion enterprise value by merging with a private equity-backed special purpose acquisition vehicle, the companies said Wednesday, in a transaction guided by respective legal advisers Cooley and Kirkland.

  • July 21, 2021

    Eversheds, Debevoise Drive $3.55B Empower-Prudential Deal

    Empower Retirement will buy the retirement benefits business of U.S. insurance giant Prudential Financial for $3.55 billion, the companies said Wednesday, in a deal guided by Eversheds Sutherland and Debevoise.

  • July 20, 2021

    Tesla Chair Denies SolarCity Purchase 'Wired' For Approval

    The chair of Tesla Motors Inc. denied Tuesday that the company's decision to buy SolarCity Corp. for $2.6 billion was "wired" for approval and driven by company CEO Elon Musk's hefty stake in both companies, according to testimony in a Delaware trial on stockholder claims for billions of dollars in damages.

  • July 20, 2021

    Skadden, Morgan Lewis Shape Private Stock Trading JV

    The Nasdaq and a group of major banks said Tuesday they're creating a platform to trade the stock of private companies in a joint venture guided by Skadden Arps Slate Meagher & Flom LLP and Morgan Lewis & Bockius LLP.

  • July 20, 2021

    Pot Social Media Execs Want Out Of $12M Arbitration Demand

    Investment management firm Iroquois Master Fund has been hit with a suit by executives of a marijuana-focused social media company who asked the court to find that a $12 million arbitration demand Iroquois brought against them is invalid.

  • July 20, 2021

    AT&T Gets FCC's OK For $16.3B Deal Spinning Off DirecTV

    AT&T Inc. recently got the green light from the Federal Communications Commission to spin off DirecTV and two streaming services into a separate company in a private equity-backed deal worth $16.25 billion.

  • July 20, 2021

    Prepare For National Security Review Of Deals, UK Tells Cos.

    The United Kingdom is asking businesses and investors to prepare for compliance with the National Security and Investment Act, which enhances the government's ability to probe deals that may raise national security issues starting early next year.

  • July 20, 2021

    Sen. Warren Wants Close FTC Review Of $4B Lockheed Deal

    Sen. Elizabeth Warren has sent a letter to the Federal Trade Commission raising questions about the past handling of mergers in the defense sector as enforcers review Lockheed Martin's planned $4.4 billion acquisition of Aerojet Rocketdyne.

  • July 20, 2021

    Cyprus Co.'s $7.6M Award Enforcement Suit Near Default

    A Cyprus-based company's $7.6 million award enforcement suit in a Florida federal court against a Norwegian shareholder has secured a clerk's default related to an unpaid $10 million loan meant for refinancing a Swiss corporation in which they were both investors.

  • July 20, 2021

    Disney Takes Another Swing At Ex-Exec's Severance Claim

    Disney asked a California federal judge to permanently toss a severance benefits suit by a former Twenty-First Century Fox executive on Monday, arguing she still has not alleged an injury linked to the company and is seeking relief under the wrong portion of the relevant statute.

  • July 20, 2021

    2 Firms Steer BBQGuys' $839M Go-Public Deal

    Barbecue grill retailer BBQGuys, guided by Sidley Austin LLP, said Tuesday it's going public through a merger with Winston & Strawn LLP-led blank-check company Velocity in a deal giving the business an enterprise value of about $839 million.

  • July 20, 2021

    Biden Taps Google Critic, Ex-Paul Weiss Partner For DOJ

    President Joe Biden finally tapped his U.S. Department of Justice antitrust chief Tuesday, picking Google critic and self-described advocate for "strong and meaningful antitrust enforcement" Jonathan Kanter, a founding partner at The Kanter Law Group PLLC and former co-chair of Paul Weiss Rifkind Wharton and Garrison LLP's antitrust practice.

Expert Analysis

  • 6 Calif. Employment Laws To Know For M&A Deals

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    In light of a new California law that affords recall rights to certain laid-off employees, attorneys at Baker McKenzie review challenges presented by various employment laws and board diversity requirements when executing mergers and acquisitions in the Golden State.

  • How Speedway Deal Might Have Avoided Antitrust Gridlock

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    A close examination of 7-Eleven's Speedway acquisition shows that adding certain language to the deal's closing conditions might have kept it out of prolonged Federal Trade Commission antitrust jeopardy, say attorneys at Cadwalader.

  • Stop Networking, Start Relationship Marketing

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    USA 500 Clubs' Joe Chatham offers four tips for lawyers to get started with relationship marketing — an approach to business development that prioritizes authentic connections — and explains why it may be more helpful than traditional networking post-pandemic.

  • What Attorneys Should Know About Fee Deferral

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    Milestone Consulting’s John Bair explores contingency-fee structuring considerations for attorneys, laying out the advantages — such as tax benefits and income control — as well as caveats and investment options.

  • Predictions On Pandemic's Lasting Impact On Legal Education

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    The pandemic accelerated the pace of technological change for legal education, and some of the changes to how law school courses are taught and on-campus interviews are conducted may be here to stay, says Leonard Baynes at the University of Houston.

  • Lawyer Perfectionism Is A Disease We Can Control

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    The pursuit of perfection that is prevalent among lawyers can lead to depression, anxiety and other mental health impacts, but new attorneys and industry leaders alike can take four steps to treat this malady, says Liam Montgomery at Williams & Connolly.

  • 5 Tips To Help Your 2021 Summer Associates Succeed

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    Despite pandemic-related challenges this year, law firms can effectively train summer associates on writing and communicating — without investing more time than they ordinarily would, says Julie Schrager at Schiff Hardin.

  • Firms Should Use Surveys To Make Smart Legal Tech Choices

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    The utility of legal technology innovations may be limited without clear data and objectives from the outset, but targeted surveys can provide specific insights that enable law firms to adopt the most appropriate and efficient tech solutions, says Tim Scott at Frogslayer.

  • Don't Forget Due Diligence In Race For Lateral Associate Hires

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    Amid high demand for associates and aggressive competition to attract talent, law firms should take three key steps to conduct meaningful prehire due diligence and safeguard against lateral hiring mistakes that can hurt their revenue and reputation, says Michael Ellenhorn at Decipher.

  • Privilege Waiver Risks From Reps & Warranties Insurance Use

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    The use of representations and warranties insurance in M&A could result in waiver of the attorney-client privilege, but policyholders can do a number of things to minimize disclosure of transaction-related information when negotiating the insurance policy and after a claim arises, say attorneys at Bass Berry.

  • How Tech Race Bill Expands CFIUS Purview To Academia

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    A recently proposed bill that extends Committee on Foreign Investment in the United States oversight to certain foreign funding of U.S. academic institutions highlights policymakers’ view that higher education institutions are not exempt from ongoing policy and legal efforts to press the U.S.-China technology race, says Hdeel Abdelhady at MassPoint Legal.

  • Lessons In Civility From The Alex Oh Sanctions Controversy

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    Alex Oh’s abrupt departure from the U.S. Securities and Exchange Commission and admonishment by a D.C. federal judge over conduct in an Exxon human rights case demonstrate three major costs of incivility to lawyers, and highlight the importance of teaching civility in law school, says David Grenardo at St. Mary's University.

  • Shoring Up Compliance Amid Change In Antitrust Tack

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    Businesses should consider revisiting the relationship between antitrust compliance and enforcement leniency amid calls for stronger legislation that shifts more burden onto defendants, increases prosecutions and multiplies enforcement resources, say attorneys at White & Case.

  • Opinion

    Biz Record Admissibility Rule Must Adapt To An ESI World

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    The federal rule that permits the use of business records as evidence must be amended to address the unreliability of electronically stored information and inconsistent court frameworks on email admissibility, say Josh Sohn and Nadia Zivkov at Stroock.

  • Pa. Justices' Ruling Presents Big Hurdles For No-Poach Pacts

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    The Pennsylvania Supreme Court’s recent opinion that an employer no-poach agreement was unenforceable in Pittsburgh Logistics Systems v. Beemac Trucking will make future use of such contracts between businesses difficult, and seems to lean heavily toward an outright ban, says attorney Joseph Lincoln.

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