Anglo American Rejects Latest £38.6B BHP Offer

By Najiyya Budaly

British miner Anglo American said Wednesday that it has rejected a third, £38.6 billion ($49.1 billion) proposed takeover from BHP Group Ltd., but has extended the offer deadline to allow the Australian rival more time to put in another bid.

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Covington Reps As Biogen Makes $1.8B Bet On HI-Bio

By Al Barbarino

Biogen Inc. said Wednesday it has agreed to purchase Human Immunology Biosciences, or HI-Bio, a San Francisco-based biotechnology company working on targeted therapies for severe autoimmune diseases, in a deal that could see Biogen pay up to $1.8 billion.

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Greenberg-Led SPAC To Buy Safety Biz For $1.85B, Quit LSE

By Tom Fish

Admiral said on Wednesday that it has agreed to buy industry safety company Acuren for $1.85 billion, as the blank-check business seeks a slice of the growing and resilient infrastructure inspection sector.

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Oaktree Assumes Inter Milan Ownership After Missed Payment

By Elaine Briseño

Oaktree Capital Management LP has taken over ownership of FC Internazionale Milano after the soccer club failed to fully repay a three-year loan from Oaktree that matured this month, leaving a balance of €395m ($428.4 million).

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Del. Justices Reverse BitGo-Galaxy Merger Suit Dismissal

By Leslie A. Pappas

Delaware's Supreme Court on Wednesday reversed the dismissal of a lawsuit that cryptocurrency wallet provider BitGo Holding Inc. filed against digital assets firm Galaxy Digital Holdings Inc., remanding the dispute over their broken $1.2 billion merger back to Chancery Court to resolve multiple "ambiguities."

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Chancery Keeps RedBird-Brookfield Dispute Stay In Place

By Jeff Montgomery

A Delaware vice chancellor declined Wednesday to rule from the bench on a preliminary injunction sought by Redbird Capital Partners in a dispute over a Brookfield Infrastructure Partners claim for a $150 million escrow included in its $5.7 billion purchase of RedBird data center projects last year.

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Founders Of BP's Archaea Looted From Own Co., Suit Says

By Katryna Perera

A group of fraternity brothers who founded waste management company Noble Environmental Inc. and later sold a venture called Archaea Energy to BP has been hit with a shareholder derivative suit in Delaware Chancery Court alleging the fraternity brothers stole billions of dollars from the company and breached their fiduciary duties to minority shareholders.

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BofA Deserves Tax Refunds On Merger Interest, 4th Circ. Told

By Anna Scott Farrell

The IRS should not have been allowed to keep the interest paid on 23 years' worth of tax underpayments by seven companies that merged into Bank of America, the company told the Fourth Circuit, arguing that the underpayments should be offset by overpayments under merger law.

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Investors Say FIS Must Investigate Derivative Suit's Claims

By Sydney Price

An investor of fintech corporation Fidelity National Information Services has pushed back on the company and its executives' bid to escape a derivative lawsuit over a $46 billion market cap drop resulting from a business spinoff, saying the company must investigate the suit's allegations.

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Cleaning Products Maker Supply Source Files For Ch. 11

By Rick Archer

Cleaning products company Supply Source Enterprises has told a Delaware bankruptcy court that it is seeking a sale in Chapter 11 to deal with $180 million in debt after overestimating the post-pandemic market for cleaning products.

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A Comparison Of FDIC, OCC Proposed Merger Approaches

Max Bonici and Connor Webb at Venable take a closer look at the Federal Deposit Insurance Corp.'s and Office of the Comptroller of the Currency's respective bank merger proposals and highlight certain common themes and important differences, in light of regulators continually rethinking their approaches to bank mergers.

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What Transactional Attys Must Know About Texas Biz Courts

As Texas prepares to launch its new business courts, transactional attorneys — especially those involved in commercial, securities and internal governance matters — should keep several issues in mind when considering use of the state's business court system to facilitate deals and settle disputes, say attorneys at Katten.

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Series

Being An EMT Makes Me A Better Lawyer

While some of my experiences as an emergency medical technician have been unusually painful and searing, the skills I’ve learned — such as triage, empathy and preparedness — are just as useful in my work as a restructuring lawyer, says Marshall Huebner at Davis Polk.

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Law360 Names Attys Who Moved Up The Firm Ranks In Q1

A promotion to partner or election to practice group chair means a slew of new responsibilities and also lots of well-deserved recognition. Law360 reveals the list of attorneys whose commitment to legal excellence earned them highly coveted spots in the law firm leadership ranks. Find out if your old legal friends — or rivals — moved up in the fourth quarter of last year.

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200th Lifetime Judge Confirmed Under Biden

By Courtney Bublé

The U.S. Senate voted 66-28 on Wednesday to confirm U.S. Magistrate Judge Angela M. Martinez as U.S. district judge in the District of Arizona, marking the 200th lifetime federal judicial confirmation under President Joe Biden.

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NY Judicial Nominee Defends Record Amid GOP Criticism

By Courtney Bublé

A judicial nominee for a New York federal court stood by her ruling allowing an inmate convicted of sex offenses to transfer from a male to female prison, amid concerns from Republicans that led to some dramatics Wednesday in a congressional hearing room.

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'Appeal To Heaven' Flag Flew At Alito's Vacation Home: Report

By Hailey Konnath

Democratic lawmakers on Wednesday called for U.S. Supreme Court Justice Samuel Alito to immediately recuse himself from cases related to the 2020 election and face censure after The New York Times reported that flags tied to Donald Trump supporters had flown outside two homes owned by the justice in 2021 and again last year.

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Analysis

Justices' CFPB Alliance May Save SEC Courts, Not Chevron

By Katie Buehler

A four-justice concurrence to the U.S. Supreme Court's decision upholding the Consumer Financial Protection Bureau's unique funding scheme last week carries implications for other cases pending before the court that challenge the so-called administrative state, or the permanent cadre of regulatory agencies and career government enforcers who hold sway over vast swaths of American economic life.

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DA Willis, Trump Judge, And Justice All Roll To Victory In Ga.

By Chart Riggall

The judge and district attorney at the center of former President Donald Trump's Georgia prosecution easily fended off their electoral challengers Tuesday night, while an abortion-rights candidate for the Peach State's highest court fell well short of the mark.

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Feature

Spencer Fane Lures In Big-Name 'Misfits' For Patent Group

By Dani Kass

Spencer Fane LLP has spent the past two years building up what it hopes to be a top-tier intellectual property group, pulling together a "band of misfits" from firms like Fish & Richardson PC and McKool Smith, according to the group's co-leader.

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NY Federal Reserve Associate GC Rejoins Covington

By Jack Rodgers

A former Covington & Burling LLP associate who left the firm 13 years ago to join the Federal Reserve Bank of New York has returned to work as of counsel, the firm announced Tuesday.

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Texas Attys Get Green Light To Charge Subscription Fees

By Lynn LaRowe

An opinion recently issued by the Professional Ethics Committee of the State Bar of Texas gives Lone Star State lawyers the go-ahead to offer subscription-based legal services so long as the arrangement doesn't result in the charging of an "unconscionable fee."

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Feds To Extend Plea Offer To Oath Keepers Atty In Jan. 6 Case

By Ali Sullivan

Federal prosecutors said Wednesday that they plan to extend a plea offer to an attorney for the far-right Oath Keepers group charged in connection with the Jan. 6, 2021, riot at the U.S. Capitol, but the specifics of the offer could depend on the U.S. Supreme Court's stance on a federal statute often used to prosecute alleged Capitol rioters.

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NC County Sued Over 'Faithful Slaves' Courthouse Monument

By Adrian Cruz

A group of residents of North Carolina's Tyrrell County has sued the county's board of commissioners in North Carolina federal court over an allegedly racist monument outside a courthouse that commemorates "faithful slaves" deemed loyal to the Confederacy during the American Civil War.

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