Mergers & Acquisitions

  • April 20, 2018

    Toys R Us Fetches $235M Offer For Canadian Stores

    Toys R Us has entered into an agreement to sell its Canadian stores and assets for at least C$300 million (roughly $235 million), the bankrupt retail giant said in a court filing Thursday, stating that Toronto-based Fairfax Financial Holdings Ltd. has come in as a stalking horse bidder.

  • April 20, 2018

    DC Circ. Skeptical Of FCC's Rationale To Restore UHF Break

    A D.C. Circuit panel grilled the Federal Communications Commission Friday over its revival of an obsolete technical distinction that lets broadcasters reach a higher percentage of U.S. households, as the FCC claimed “procedural discretion” for a holistic approach to address what it considers a too-restrictive cap on broadcaster reach.

  • April 20, 2018

    Deals Rumor Mill: Walmart, Xerox, Cosco Shipping

    Walmart’s deal to buy a more than 51 percent stake in Indian e-commerce company Flipkart could come as soon as next week, Fujifilm and Xerox are working on renegotiating their $6.1 billion planned tie-up, and a deal by Cosco Shipping has sparked national security concerns.

  • April 20, 2018

    Shire Weighing Revised £44B Buyout Offer From Takeda

    Dublin-based Shire said Friday it was mulling a revised £44 billion ($62 billion) takeover offer from Japan’s Takeda Pharmaceuticals, just a day after the rare-disease-focused pharmaceutical company revealed it had rejected three previous offers for undervaluing both its future growth prospects and its pipeline.

  • April 20, 2018

    9th Circ. Splits From Similar Rulings On Tender Offer Suits

    Departing from circuit court rulings in five similar cases, the Ninth Circuit on Friday reversed a lower court's dismissal of a putative securities class action alleging Emulex Corp. concealed that Avago Technologies Ltd.'s $606 million acquisition offer was too low, holding that the investors’ claims require a showing of negligence rather than intentional wrongdoing.

  • April 20, 2018

    Health Hires: Goodwin, Shook Hardy, Michael Best, Orrick

    The latest firms to expand their life sciences and health care abilities are Goodwin Procter LLP, Shook Hardy & Bacon LLP, Michael Best & Friedrich LLP, Orrick Herrington & Sutcliffe LLP, Harter Secrest & Emery LLP, Eversheds Sutherland and Cole Schotz PC.

  • April 20, 2018

    Winston Grabs Ex-O'Melveny Project Finance, M&A Partner

    Winston & Strawn LLP said it has landed former O'Melveny & Myers LLP partner Richard Shutran, a leading project finance and mergers attorney who previously served as the global finance group chair at Dewey & LeBoeuf LLP.

  • April 20, 2018

    Taxation With Representation: Freshfields, Thompson, Davis

    In this week’s Taxation With Representation, Procter and Gamble bought Merck KGaA’s consumer health business for $4.2 billion, Icahn’s Tropicana sold its real estate assets to Gaming and Leisure Properties Inc. and merged its gaming and hotel operation with Eldorado Resorts Inc. in a $1.85 million deal, and Shire sold its oncology business to Servier SAS for $2.4 billion.

  • April 20, 2018

    Investor Suit Over GFI Merger Gets Judge's Heave-Ho

    A Manhattan federal judge on Friday tossed a suit claiming investors in brokerage GFI Group Inc. were duped into selling their shares on the cheap by news of a takeover bid by CME Group Inc. because top GFI brass never said a better offer was coming.

  • April 20, 2018

    Biogen Pays Pharma Co. Ionis $1B To Extend Partnership

    Massachusetts based biotechnology company Biogen Inc. on Friday said that it has agreed to pay Ionis Pharmaceuticals Inc. $1 billion to extend a strategic partnership through a 10-year collaboration to develop drugs that treat neurological diseases.

  • April 20, 2018

    2 Water Island Funds Contest Barracuda $1.6B Buyout Price

    Two funds of Water Island Capital LP petitioned Delaware’s Chancery Court  late Thursday for appraisal of their Barracuda Networks Inc. stock following Barracuda's $27.55 per share, $1.6 billion, go-private acquisition by private equity Thoma Bravo in early February.

  • April 20, 2018

    Kirkland Steers GTCR’s £1B Cash Deal To Sell Callcredit

    Kirkland & Ellis LLP guided GTCR's cash deal to sell United Kingdom-based Callcredit Information Group to TransUnion for £1 billion ($1.4 billion), the private equity firm said Friday.

  • April 20, 2018

    T-Mobile, Sprint Face Tough Odds For Tie-Up

    Rumors are again whirling that T-Mobile and Sprint are weighing a tie-up, but the No. 3 and No. 4 U.S. wireless players will need to come eye-to-eye on a merger agreement before deciding whether they can muster a successful defense of a deal regulators are likely to deem anti-competitive.

  • April 20, 2018

    The Big Picture: DOJ's Bid To Halt AT&T's Time Warner Deal

    Antitrust legal eyes are glued to the first U.S. Department of Justice court challenge to a purely vertical merger since the 1970s, a deal AT&T and Time Warner say they need just to stay competitive but which the government says will drive up consumers' TV bills by hundreds of millions of dollars. Here, Law360 looks at how we got here, the key issues to watch and the highlights of the trial so far. 

  • April 20, 2018

    Don't Miss It: Hot Deals & Firms We Followed This Week

    With so much mergers and acquisitions news this week, you may have missed several deals announced in recent days helmed by firms such as Davis Polk and Ropes & Gray. Here, Law360 recaps the ones you might have missed.

  • April 19, 2018

    AT&T-Time Warner Judge Returns To Deal's Arbitration Offer

    The D.C. federal judge overseeing the U.S. Department of Justice challenge to AT&T’s proposed $85 billion Time Warner purchase again asked Thursday about an arbitration offer key to defense efforts to appease government antitrust concerns, wanting to know what AT&T’s CEO envisions after that offer expires.

  • April 19, 2018

    Deals Rumor Mill: Luxottica, Intermédica, Yildiz

    Luxottica’s chairman reportedly said China may want restrictions related to its deal for Essilor, Notre Dame Intermédica Participações SA has enough interest in its initial public offering to price it near the middle of its range, and Godiva’s Turkish owner is planning on restructuring $6.5 billion in debt.

  • April 19, 2018

    DOJ Slams DirecTV Bid To Exit AT&T-Time Warner Tie-Up Suit

    The U.S. Department of Justice hit back Thursday against DirecTV’s bid to escape the suit challenging its parent company AT&T’s planned purchase of Time Warner, telling a D.C. federal court that the satellite provider is a major part of why the deal is under fire.

  • April 19, 2018

    Weinstein Co. Says Dozens Of Buyers Have Shown Interest

    Bankrupt movie studio The Weinstein Co. told a Delaware judge Thursday that since its auction plan received court approval this month it has received more than 50 expressions of interest from potential buyers for its assets.

  • April 19, 2018

    Abbott Must Give Docs To Alere Investors In Stock-Drop Suit

    Abbott Laboratories must relay four months' worth of merger discussions to a proposed class of Alere Inc. investors suing Alere over a dip in its stock price while the companies were negotiating a $5.3 billion merger in 2016, a federal magistrate judge ruled on Thursday in a Boston courtroom.

Expert Analysis

  • Can A Single FTC Commissioner Constitute A Quorum?

    Stephen Calkins

    With Federal Trade Commissioner Terrell McSweeny resigning on April 28, it is possible that acting Chairman Maureen Ohlhausen will be left as the sole commissioner. The FTC appears to believe that it can take formal action by a 1-0 vote, but to allow this would be possibly not lawful and certainly not wise, say professor Stephen Calkins of Wayne State University and John Villafranco of Kelley Drye & Warren LLP.

  • Avoiding Pitfalls In Physician Practice Acquisitions

    Excerpt from Lexis Practice Advisor
    William Eck

    The past few years have seen a resurgence in the acquisition of physician practices, both by hospitals and by private equity firms. However, acquiring a physician group carries special challenges in view of the heavy regulation of the health care provider industry, says William Eck of Seyfarth Shaw LLP.

  • Opinion

    The Flawed European Remedy To Bayer-Monsanto Deal

    Allen Grunes

    It is a safe bet that the U.S. Department of Justice is poised to sign on to the European agreement on Bayer’s acquisition of rival Monsanto, perhaps with a few tweaks. Even so, the Bayer-Monsanto transaction is likely to harm U.S. farmers, say Allen Grunes and Maurice Stucke, founders of The Konkurrenz Group.

  • Common Pitfalls In Cross-Border M&A

    Siegmar Pohl

    When negotiating and closing deals between U.S. and European or Asian companies, applying well-known principles of one jurisdiction can sometimes lead to unexpected outcomes in another. Siegmar Pohl and Shin Iwata of Squire Patton Boggs LLP discuss hidden liabilities, cultural differences and other surprises in cross-border mergers and acquisitions.

  • Best Practices For Building A Better Meeting

    Nicholas Cheolas

    How can we improve meetings in the legal industry, which tends to evolve with the speed of a tranquilized water buffalo mired in quicksand? Breaking it down to three phases can yield significant benefits, says Nicholas Cheolas of Zelle LLP.

  • 5 Ways Law Firms Are Becoming More Like Hotels

    Bella Schiro

    One way law firms differentiate themselves from the competition to attract and retain top talent is through their real estate and workplace strategies. Taking a lead from the hospitality industry can help create a more inviting, welcoming and collaborative workspace environment, says Bella Schiro of Jones Lang LaSalle Inc.

  • Highlights Of ABA Antitrust Spring Meeting: Part 2

    Barry Reingold

    The American Bar Association’s 66th Antitrust Law Spring Meeting included many sessions on merger enforcement. Attorneys with Perkins Coie LLP offer key takeaways from some of the most interesting panels.

  • The Impact Of Tax Reform On Film, TV And Print Media: Part 2

    Michele Alexander

    The Tax Cuts and Jobs Act has imposed new limitations on a corporation’s ability to take advantage of net operating losses. Certain changes will disproportionately affect media companies, impacting their debt restructuring, acquisition and disposition strategies, say Michele Alexander and Ryan Davis of Bracewell LLP in New York.

  • Highlights Of ABA Antitrust Spring Meeting: Part 1

    Shylah Alfonso

    The American Bar Association’s 66th Antitrust Law Spring Meeting included a number of sessions with representatives from federal and state antitrust enforcement agencies. Attorneys with Perkins Coie LLP offer some key takeaways from those sessions.

  • Opinion

    Gorsuch's 1st Year Shows He Is A Conservative Activist

    Elliot Mincberg

    In his first year on the U.S. Supreme Court, Justice Neil Gorsuch has proven to be a narrow-minded elitist who consistently votes in favor of corporations and the powerful, acting to roll back protections for workers, consumers, LGBTQ individuals and other marginalized communities, says Elliot Mincberg of People for the American Way.