Mergers & Acquisitions

  • November 23, 2022

    Pipeline Health Seeks OK For $92M Chicago Hospital Sale

    Bankrupt hospital operator Pipeline Health System asked a Texas judge to approve a $92 million sale of its Illinois medical facilities, saying the transaction will enable those hospitals to remain in operation.

  • November 23, 2022

    UK Insurance Broker Buys Australian Co. For AU$482M

    U.K. insurance brokerage giant Ardonagh Group announced on Wednesday that it will acquire Australia-based insurance investment company Envest Pty Ltd. for AU$482 million ($324.6 million).

  • November 23, 2022

    Jack Nicklaus Barred From Endorsements During NY Case

    Jack Nicklaus can't ink commercial endorsement deals while he litigates the terms of a $145 million intellectual property sale, a Manhattan judge ruled Wednesday after hearing testimony from the legendary golfer.

  • November 23, 2022

    Chancery Asked To Get MSG To Hand Over Withheld Texts

    Stockholders challenging last year's $900 million merger of Madison Square Garden Networks Inc. and MSG Entertainment have asked the Delaware Court of Chancery to compel the merging companies to hand over undisclosed or withheld text messages and hire a forensic expert to recover requested texts that were deleted.

  • November 23, 2022

    CBS Investors Rip Report Over Redstone-Cleary Email

    Investors want the Delaware Chancery Court to reject a report recommending the court deny a bid to force Cleary Gottlieb Steen & Hamilton LLP to turn over a 2019 email sent by media mogul Shari E. Redstone seeking legal advice on CBS' $30 billion merger with Viacom.

  • November 23, 2022

    Another News Corp. Investor Raises Doubt About Fox Merger

    An additional News Corp. shareholder, the London-based investment firm Independent Franchise Partners, has expressed concern about a possible merger between the media company and Fox Corp.

  • November 23, 2022

    Latham-Guided Manchester United Toys With Possible Sale

    English Premier League soccer team Manchester United, guided by Latham & Watkins LLP, has said it is exploring strategic alternatives — including a potential sale — in an announcement that comes on the heels of a flurry of deal-making activity for elite English soccer clubs, which have become appetizing propositions for investors, including U.S. private equity firms.

  • November 23, 2022

    4 Firms, 2 Years, 1 Suit And, Finally, A Done UnitedHealth Deal

    Attorneys at Simpson Thacher & Bartlett LLP and Cleary Gottlieb Steen & Hamilton LLP knew from the beginning that UnitedHealth's $13.8 billion purchase of Change Healthcare was likely to draw antitrust pushback and potentially a direct U.S. Department of Justice challenge.

  • November 23, 2022

    Economic Woes Threaten To Cool Insurance M&A Deals

    Mergers and acquisitions in the European insurance sector hit record levels in 2022 compared with recent years, but the economic crisis could signal a downturn in the trend, a financial consultancy has suggested.

  • November 23, 2022

    Tech Investor Clinches €1.8B Buy Of Just Eat's Brazilian Unit

    Food delivery giant Just Eat said that it has completed the sale of its 33.3% equity stake in its Brazilian subsidiary to the subsidiary's majority owner, tech investor Prosus, in a deal potentially worth up to €1.8 billion ($1.85 billion).

  • November 23, 2022

    Clifford Chance Leads Entain's €700M Buyout Of Gambling Biz

    Betting group Entain said on Wednesday that its newly created subsidiary has completed its buyout of Croatian sports gambling business SuperSport Group, in a deal led by Clifford Chance that is worth up to €690 million ($712 million).

  • November 23, 2022

    Glencore Agrees Australian Mine Sale To SPAC For $1.1B

    Commodities trader Glencore said on Wednesday that it will sell its Australian copper mine to a special purpose acquisition company listed in New York for more than $1.1 billion.

  • November 22, 2022

    UK Group Joins Chorus Opposing Amazon's Roomba Deal

    British advocacy group Foxglove urged the U.K.'s Competition and Markets Authority on Tuesday to look into blocking Amazon's proposed $1.7 billion purchase of Roomba maker iRobot, a deal that has already drawn scrutiny, including from Democratic lawmakers in the U.S. and the Federal Trade Commission.

  • November 22, 2022

    Senate To Hold Hearing On Ticketmaster Antitrust Concerns

    The Senate plans to hold a hearing examining Ticketmaster and the lack of competition in the ticketing industry, according to an announcement made Tuesday.

  • November 22, 2022

    3 Firms Steer $573M SPAC Merger For UK EV Startup Zapp

    Special-purpose acquisition company CIIG Capital Partners II Inc. and U.K.-based electric bike company Zapp Electric Vehicles Ltd. announced Tuesday that they had reached an agreement to merge in a deal that implies an enterprise value of $573 million for the combined company and was put together by three law firms.

  • November 22, 2022

    TC Energy Balks At $3B Damages Bid In Pipeline Merger Suit

    Canadian energy company TC Energy Corp. pushed back Tuesday on a suggestion from former Columbia Pipeline Group Inc. shareholders that Delaware's Chancery Court should award them $3.02 billion in rescissory damages stemming from an allegedly unfair $13 billion merger with TC Energy's predecessor TransCanada Corp.

  • November 22, 2022

    Meridian Bioscience's $1.53B Sale Clears Antitrust Hurdles

    Meridian Bioscience Inc. told investors Tuesday that its proposed $1.53 billion sale to SD Biosensor Inc. and SJL Partners LLC has received several key antitrust approvals and is still on track to close in March, but that it's yet to resolve an ongoing U.S. Department of Justice investigation.

  • November 22, 2022

    US Sugar Defends $315M Imperial Buy To 3rd Circ.

    U.S. Sugar Corp. is defending its trial court victory against an antitrust challenge to its $315 million acquisition of Imperial Sugar Co., telling the Third Circuit on Monday that the U.S. Department of Justice can't use "gerrymandered" sugar markets to "distort the competitive impact" of the deal.

  • November 22, 2022

    FTC Tweaks Linde Merger Deal Again, But With Reservations

    The Federal Trade Commission reluctantly agreed to further tweaks to a 2018 settlement permitting German gas giant Linde AG's $70 billion merger with Praxair Inc., but not without a statement expressing severe reservations about future merger clearance deals with similar "numerous, complicated, and long-standing entanglements."

  • November 22, 2022

    Norfolk Southern Inks $1.6B Deal For Cincinnati Southern

    Cincinnati agreed to sell the Cincinnati Southern Railway, a 337-mile railroad linking Ohio and Tennessee, to a Norfolk Southern Corp. affiliate for $1.62 billion in a deal guided by Sidley Austin LLP.

  • November 22, 2022

    Clark Hill, JP Galda Guide $170M Cybersecurity SPAC Merger

    Blank-check company Western Acquisition Ventures Corp., advised by J.P. Galda & Co., on Tuesday agreed to merge with Virginia-based cybersecurity solutions provider Cycurion Inc., steered by Clark Hill PLC, in a deal that values the combined company at just over $170 million.

  • November 22, 2022

    XL Fleet Still Stuck In Muddy Waters In Del. SPAC Suit

    A critical Muddy Waters Research report on SPAC-born XL Fleet Corp. once again haunted the company Tuesday as company attorneys argued for the dismissal of a six-count class suit seeking damages from an allegedly deceptive acquisition from late 2020.

  • November 22, 2022

    UK Raises Antitrust Concerns Over Oilfield Tech Deal

    United Kingdom antitrust authorities put Baker Hughes Nederland Holdings BV on notice Tuesday that its proposed purchase of offshore and onshore oil and gas well services rival Altus Intervention AS appears likely to harm competition in the North Sea.

  • November 22, 2022

    Trump-Linked SPAC Gets Approval To Extend Merger Deadline

    The special-purpose acquisition company proposing to acquire and take public former President Donald Trump's social media platform said Tuesday it had obtained necessary shareholder votes to authorize a nearly one-year extension to complete negotiations with Trump's startup.

  • November 22, 2022

    Paul Hastings, Kirkland Lead $600M Hyperloop Biz SPAC Deal

    Hyperloop Transportation Technologies will merge with a special-purpose acquisition company led by former Disney executives in a deal that values the development business at $600 million, according to a Tuesday announcement.

Expert Analysis

  • New FERC Affiliate Considerations For Public Utility Investors

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    Two recent orders from the Federal Energy Regulatory Commission significantly broaden the scope of the terms "affiliate" and "change in control," which means that investors in public utilities should reexamine their status and compliance obligations, say attorneys at Latham.

  • Opinion

    Litigation Funders Seek Transparency In Disclosure Debate

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    Litigation funders want to correct the record on calls for funding disclosure in the name of transparency, as this purported justification obscures the disclosure's adverse effects — prejudicing plaintiffs' cases and discouraging the assertion of meritorious legal claims, say Dai Wai Chin Feman and William Weisman at Parabellum Capital.

  • Employee Immigration Considerations For M&A Due Diligence

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    For a company going through a merger or acquisition, an immediate review of immigration issues, including compliance and impediments to employee retention, can remove several stumbling blocks known to trip up otherwise viable deals, say Elizabeth Gibbes and Miguel Manna at Parker Poe.

  • Tale Of 2 Mergers: The DOJ Antitrust Division's Mixed Results

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    Attorneys at V&E look at the U.S. Department of Justice Antitrust Division's recent successful challenge to Penguin Random House’s purchase of Simon & Schuster, and its unsuccessful challenge to U.S. Sugar’s acquisition of Imperial Sugar — exploring the market realities, the strength of witness testimony and the affected stakeholders in each case.

  • 5 Principles For Better Professional Development Programs

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    The pandemic and ensuing "great resignation" have resulted in a more transient legal work force, but law firms can use effective professional development programs to bridge a cultural gap with new associates and stem associate attrition, says Matthew Woods at Robins Kaplan.

  • What To Pay Attention To In FTX Fraud Probe

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    Steven Lee and Sean Shecter at Lewis Brisbois outline the issues the U.S. Department of Justice and the U.S. Securities and Exchange Commission will have to explore as they investigate FTX's handling of customer funds to determine whether the crypto exchange’s CEO acted with the requisite criminal intent to violate federal wire fraud statutes.

  • Beware FTC's Expanded Focus On Private Equity, Individuals

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    The Federal Trade Commission's recent policy statement broadening its interpretation of unfair methods of competition signals an expanded focus that could have far-reaching implications for future private equity acquisitions, as well as the potential to discourage executives from taking top positions at companies, say attorneys at Baker McKenzie.

  • Nurse Staffing Case Highlights DOJ's Antitrust Focus In Labor

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    A health care staffing company's recent guilty plea in U.S. v. Hee to a criminal violation of the antitrust laws when it entered into a no-poach and wage-fixing arrangement with a competitor shows the U.S. Department of Justice's renewed focus on labor-side antitrust violations, say Shari Ross Lahlou and Thomas Miller at Dechert.

  • Series

    My Favorite Law Prof: How I Learned To Practice With Passion

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    First Circuit Judge Gustavo Gelpí recalls how Suffolk University Law School's Joseph Glannon taught the importance of the law as both a tool and a profession, and that those who wish to practice law successfully must do so with love, enthusiasm and passion.

  • Navigating The FTC's Expanded Unfair-Competition Stance

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    Legal practitioners will need to evaluate past, existing and future practices for Section 5 liability in an aggressive enforcement environment, following the Federal Trade Commission's recent policy statement broadening prior guidance on unfair methods of competition, say attorneys at McDermott.

  • Questions To Ask Before Making A Lateral Move As Partner

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    Law firm partners considering lateral moves should diligently interview prospects — going beyond standard questions about compensation to inquire about culture, associate retention and other areas that can provide a more comprehensive view, says Lauren Wu at VOYLegal.

  • P3's Cautionary Tale On LLC Liability In Del. Chancery

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    A series of decisions on claims related to a P3 Health Group special-purpose acquisition company transaction show officers of Delaware limited liability companies should anticipate expanded potential for liability in connection with their roles, say attorneys at Fried Frank.

  • Series

    My Favorite Law Prof: How I Learned To Argue Open-Mindedly

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    Queens College President Frank Wu reflects on how Yale Kamisar’s teaching and guidance at the University of Michigan Law School emphasized a capacity to engage with alternative worldviews and the importance of the ability to argue for both sides of a debate.

  • Why A Tailored Antitrust Compliance Program Is Now Crucial

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    Attorneys at Perkins Coie analyze three trends that make customized antitrust compliance programs more important than ever, providing guidance on how companies can begin to craft catered policies to fit their business needs.

  • ABA's No-Contact Rule Advice Raises Questions For Lawyers

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    The American Bar Association's ethics committee recently issued two opinions concerning the no-contact rule — one creates an intuitive and practical default for electronic communications, while the other sets a potential trap for pro se lawyers, say Lauren Snyder and Deepika Ravi at HWG.

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