Mergers & Acquisitions

  • July 07, 2021

    Latham, White & Case Lead SPAC Deal For $2.8B Planet Labs

    Private Earth satellite imaging company Planet Labs will go public at an equity value of roughly $2.8 billion by merging with the fourth blank-check company from dMY Technology Group, the companies said Wednesday, in a transaction put together by Latham & Watkins and White & Case.

  • July 06, 2021

    Comcast Pushes FCC To Shift Nexstar Station Ownership

    Comcast told the Federal Communications Commission that Nexstar Media Group's divestiture as part of a mega deal was a "sham," arguing that Nexstar actually controls the New York City station WPIX-TV — which puts the company over the cap that limits national audience reach by one media company to 39% of the population.

  • July 06, 2021

    AIG Must Defend Ex-Military Contractors In Acquisition Row

    A New York federal judge has ruled that an AIG unit must defend the owners of a military contracting firm against claims by GardaWorld Corp, saying the former directors acted as executives instead of shareholders of the company.

  • July 06, 2021

    DOJ Gets Nov. Trial Date For Aon Merger Challenge

    A fight over the timing of the U.S. Department of Justice's lawsuit challenging the $30 billion merger between insurance brokers Aon and Willis Towers Watson, and its now mid-November trial date, turned into a brawl of words over protecting confidential documents during a D.C. federal court hearing Tuesday.

  • July 06, 2021

    Lawmakers Urge FTC To Continue Facebook Antitrust Fight

    House and Senate lawmakers are asking the chair of the Federal Trade Commission to continue the commission's enforcement efforts against Facebook over alleged antitrust violations, after a D.C. federal judge dismissed the agency's complaint against the social media giant last week.

  • July 06, 2021

    The Term Finale: A 'Kumbaya Court'? Not So Fast

    An uptick in unanimous decisions caught U.S. Supreme Court watchers off-guard this term, but simmering beneath the surface are stark differences among the justices on the direction of the court. Law360 data editor Jackie Bell joins The Term to break down the numbers behind the cases — including who's the new "Mr. Majority."

  • July 06, 2021

    Jones Day, Milbank Steer $1.7B Huntington Ingalls, Alion Deal

    Military shipbuilding company Huntington Ingalls Industries will acquire defense engineering firm Alion Science and Technology for $1.65 billion in cash from Veritas Capital, a deal led by Jones Day and Milbank LLP, the companies announced Tuesday.

  • July 06, 2021

    V&E, Gibson Dunn Guide $295M Pioneer Energy Services Deal

    Patterson-UTI Energy Inc., led by Gibson Dunn & Crutcher LLP, on Tuesday announced it had reached a deal to acquire Vinson & Elkins LLP-represented Pioneer Energy Services for approximately $295 million, expanding the Houston-based drilling company's footprint in the western hemisphere.

  • July 06, 2021

    EU Watchdog Digs Deeper Into Cargo Companies' Merger Plan

    Europe's competition watchdog says it launched an in-depth review of the planned merger between two Finnish cargo companies after they declined to make any up-front commitments to allay concerns over the impact on shipping container markets.

  • July 06, 2021

    AAA Units Hit With ERISA Class Action Over 401(k) Plan

    Subsidiaries of the American Automobile Association were slammed Tuesday with a proposed class action accusing them of mismanaging workers' 401(k) plan to the tune of millions of dollars by choosing high-fee investment options that cut into employees' retirement funds.

  • July 06, 2021

    3 Firms Craft Blackstone's Bet On $1.4B ESG Software Co.

    Blackstone Group has agreed to buy environmental, social and governance software maker Sphera at a valuation of $1.4 billion from fellow private equity shop Genstar Capital, the companies said Tuesday, in a transaction inked with assistance from Simpson Thacher, Willkie and Vedder Price.

  • July 06, 2021

    Jones Day-Led Infor Sells Unit To Hexagon In $2.75B Deal

    European information technology firm Hexagon AB will pay roughly $2.75 billion to acquire the global enterprise asset management division of Jones Day-advised business cloud software maker Infor, the companies said Tuesday.

  • July 06, 2021

    The Sharpest Dissents From The Supreme Court Term

    Despite a U.S. Supreme Court term marked by the pandemic, a presidential election unlike any in modern history and a fortified conservative majority that sparked controversy, the justices seemed to be vibing pretty well — until the end of the session.

  • July 06, 2021

    Returning To Open Court: Excitement, Nerves And Extra Prep

    After more than a year of remote arguments, the U.S. Supreme Court may follow the example of other courts and allow in-person arguments when the new term begins in October. Advocates are eager to get back to the lectern, even if that means it's harder to consult notes and the butterflies return.

  • July 06, 2021

    2 Firms Lead SPAC Deal For $4.3B Social Networking App 

    Local social networking app Nextdoor will go public at a roughly $4.3 billion valuation by merging with Khosla Ventures' second special purpose acquisition vehicle, the companies said Tuesday, in a deal built by respective legal advisers Fenwick & West and Latham & Watkins.

  • July 06, 2021

    3 Firms Build PE Swap For $5.25B Water Treatment Biz Solenis

    Platinum Equity, advised by Gibson Dunn and Willkie, will buy Debevoise-led specialty chemicals company Solenis at an enterprise value of $5.25 billion from Clayton Dubilier & Rice LLC and BASF SE, the companies said Tuesday.

  • July 02, 2021

    The Firms That Won Big At The Supreme Court

    Supreme Court oral arguments are always a high-stakes endeavor, and this term gave advocates a lot to balance, between the confirmation of a new justice to the court, an ongoing pandemic and an entire term of remote oral arguments. Here’s a look at the law firms that argued the most, and how they fared.

  • July 03, 2021

    UK Grocer To Go Private In £6.3B Deal Led By 2 Law Firms

    A Slaughter and May-advised consortium led by Fortress Investment Group will buy Ashurst-led Morrisons for roughly £6.3 billion ($8.7 billion), in a Saturday deal that comes after the British grocery store chain spurned earlier advances.

  • July 02, 2021

    Aon Says DOJ Must Fill 'Critical Gaps' In Merger Challenge

    Aon PLC and Willis Towers Watson offered an early peek Thursday into their arguments against the U.S. Department of Justice's lawsuit challenging their $30 billion merger, in a brief seeking key details like customer and market definitions that the insurance brokers say government attorneys left out of their complaint.

  • July 02, 2021

    DraftKings Investor Says SPAC Partner Has Black Market Ties

    A DraftKings investor on Friday hit the online gambling site with a proposed securities class action over its recent merger with SBTech and a special purpose acquisition company, claiming DraftKings concealed from investors that SBTech "had a history of unlawful operations."

  • July 02, 2021

    AMD Wins EU, UK Nods For $35B Xilinx Deal

    Competition enforcers in the U.K. and Europe have cleared Advanced Micro Devices Inc.'s planned $35 billion purchase of fellow California semiconductor company Xilinx Inc. without conditions.

  • July 02, 2021

    Pot Co. Backed By Jay-Z Cancels $50M SPAC Investment

    California cannabis juggernaut The Parent Co. said Friday it will not go through with a planned $50 million private placement in GH Group, a cannabis company recently acquired by blank-check company Mercer Park Brand Acquisition Corp.

  • July 02, 2021

    Don't Miss It: Cooley, Paul Weiss Guide Week's Hot Deals

    With so much mergers and acquisitions news this week, you may have missed several deals announced in the last several days helmed by firms such as Cooley and Paul Weiss.

  • July 02, 2021

    Chancery Clears Way For Madison Square Garden Merger Vote

    Delaware's chancellor refused late Friday to issue a preliminary injunction blocking a July 8 stockholder vote on a $900 million merger of Madison Square Garden Entertainment Corp. and MSG Networks Inc., finding that both sides complied with takeover protections for deals involving companies with "interested" holders of 15% or greater stakes.

  • July 02, 2021

    Justices Seemed Above The Political Fray, Until The Last Day

    Throughout the Supreme Court term, the justices defied partisan expectations in cases involving LGBTQ rights, the Affordable Care Act, student athlete compensation and more. But on its final day, the court shattered any illusion that such harmony would last.

Expert Analysis

  • Virtual Litigation May Unravel The Narcissistic Lawyer

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    The virtual courtroom limits a narcissistic lawyer's ability to intimidate witnesses and opposing counsel, boast to clients or engage in grandstanding — an unexpected benefit of the global pandemic as some aspects of remote litigation are likely here to stay, says Jennifer Gibbs at Zelle.

  • Understanding SPACs' Hidden Capital Costs

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    Business is brisk in special purpose acquisition company initial public offerings, but the many costs and complexities of the SPAC process must also be taken into consideration before choosing this financing method, as signs of a crash become increasingly evident, say Nicole Hatcher and Natasha Allen at Foley & Lardner.

  • ABA Remote Work Guide Raises Bar For Atty Tech Know-How

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    A recent American Bar Association opinion on lawyers' ethical duties of competence and confidentiality when working remotely should be viewed as part of a larger movement by which attorneys are being exhorted to develop competence in 21st century technology, say Jennifer Goldsmith at Ironshore and Barry Temkin at Mound Cotton.

  • Antitrust Risk Considerations In Light Of FTC Merger Focus

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    Recent Federal Trade Commission distribution merger challenges are consistent with its focus on nascent competition, highlighting essential antitrust issues merger parties should assess to avoid a costly investigation, say attorneys at Wilson Sonsini.

  • Lateral Hire Conflict Screening Lessons From DLA Piper Case

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    While a Texas federal court recently denied a motion to disqualify DLA Piper from representing Apple in a patent dispute after the law firm hired an attorney who formerly represented opponent Maxwell, the case is a reminder that robust conflict checks during lateral hiring can save firms the time and expense of defending disqualification motions, says Hope Comisky at Griesing Law.

  • Key Enforcement Risks For SPAC Parties Amid SEC Scrutiny

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    The U.S. Securities and Exchange Commission's recent attention to special purpose acquisition companies could beget a wave of enforcement inquiries scrutinizing parties involved at any SPAC transaction stage, from sponsors to operating companies, targets, underwriters and broker-dealers, say attorneys at WilmerHale.

  • Choosing A Branch Or Subsidiary For Overseas Expansion

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    Samuel Pollack and Naoko Watanabe at Baker McKenzie examine the corporate and U.S. tax law considerations involved in deciding whether a branch or subsidiary is the most efficient way to expand operations overseas, now that recent Treasury regulations clarified the complicated international tax regime created by the Tax Cuts and Jobs Act.

  • 3 Cybersecurity Questions To Ask Before A Remote Mediation

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    Lawyers preparing to mediate or arbitrate a case through videoconference should take steps to ensure they and their alternative dispute resolution providers are employing reasonable security precautions to protect digital client data and conform to confidentiality obligations, say F. Keith Brown and Michael Koss at ADR Systems.

  • Can Antitrust Enforcement Be A Tool For Racial Equity?

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    Recent executive branch developments suggest that acting Federal Trade Commission Chairwoman Rebecca Slaughter's anti-racism prescription for antitrust enforcement may be influential, but there is an open question of whether efforts to achieve racial equity will be limited absent significant legislative reforms, says Rosa Morales at Crowell & Moring.

  • A Uniform Mediation Act Primer As States Continue Adoption

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    With Georgia expected to soon become the 13th jurisdiction to adopt the Uniform Mediation Act and with more states likely to follow suit amid widespread trial delays, practitioners should familiarize themselves with the act's conflict disclosure requirements and the boundaries of its confidentiality provisions, says Richard Mason at MasonADR.

  • Why SPACs Should Consider Captive Insurance

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    With the growing popularity of special purpose acquisition companies and the rising costs and challenges of acquiring directors and officers insurance, captive insurance could provide several benefits for SPACs seeking to protect against shareholder lawsuits, say Jeffrey Raskin and Lauren Burke at Morgan Lewis.

  • Safeguarding Privileged Communications In A Remote World

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    With the pandemic ushering in remote collaboration tools, counsel must revisit fundamentals of the attorney-client privilege and the work-product doctrine, study cases involving email and other recent technologies, and follow 10 best practices to protect confidentiality, say attorneys at DLA Piper.

  • How To Meet CFIUS Expectations On Chinese Investment

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    Under President Joe Biden, U.S. government scrutiny of Chinese investment is likely to remain rigorous and have a significant impact on deal return on investment, so deal strategy should include a four-step proactive approach to the Committee on Foreign Investment in the United States review process, say Scott Boylan and Paul Stephen at StoneTurn.

  • 4 Areas Of Cyberattack Vulnerability For Law Firms

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    Recent data breaches involving Goodwin and Jones Day show that cyberattacks are very real threats to the legal profession, especially in the era of remote work, so law firms should revisit common business practices that expose them to unnecessary risks, says Ara Aslanian at Inverselogic.

  • How To Help Your Witnesses Overcome Hindsight Bias

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    Witnesses facing tricky questions from opposing counsel often find themselves engaging in hindsight bias, when they use present knowledge to second-guess past actions, but these problematic thought processes can be overcome during deposition or trial preparation through tough questions and some catharsis, says Merrie Jo Pitera at Litigation Insights.

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