Mergers & Acquisitions

  • February 15, 2024

    7th Circ. Rejects Ancestry.com's Arbitration Bid In Privacy Suit

    The Seventh Circuit on Thursday upheld a lower court's decision that minors suing Ancestry.com for sharing their genetic testing information can avoid arbitration, saying there was no language in the terms their parents signed designating the children as parties to the agreement.

  • February 15, 2024

    Shoppers Say Albertsons-Kroger Suit Shortcomings Fixed

    Consumers challenging Kroger's $24.6 billion bid for Albertsons defended their revised lawsuit in California federal court against the supermarkets' latest dismissal bid, arguing their tweaked complaint now adequately identifies the affected stores and lays out how the deal threatens competition.

  • February 15, 2024

    HCA Says NC Hospital's Standard Of Care Hasn't Changed

    For-profit hospital network HCA Management Services has fired back at claims of rampant mismanagement at its Asheville, North Carolina, hospital, saying the state attorney general's office has made accusations about the quality of care that aren't based on the terms agreed to when HCA bought the hospital four years ago.

  • February 15, 2024

    DraftKings Paying $750M For Lottery App Jackpocket

    Digital sports and gambling company DraftKings Inc. said Thursday it has agreed to acquire U.S. lottery app Jackpocket for approximately $750 million, with Sullivan & Cromwell LLP and Cooley LLP representing the parties on the cash-and-stock deal. 

  • February 15, 2024

    Investor In Battery Co. Microvast Sues Over De-SPAC Merger

    Leaders of lithium-ion battery maker Microvast Holdings Inc. and the blank-check company that took it public in July 2021 were so "personally hellbent on completing the merger" for their own benefit that they deceived public investors into approving it, a shareholder alleges in a new Delaware Chancery Court suit.

  • February 15, 2024

    Trian Decries Disney's 'Spaghetti-Against-The-Wall' Strategy

    Walt Disney Co. shareholder and activist investor The Trian Group is taking a public swipe at the company's performance, criticizing its "fairy tale" and "spaghetti-against-the-wall" strategy to improve profits.

  • February 15, 2024

    From Farm Tiffs To Time-Warner Battles, Glasscock Saw It All

    Vice Chancellor Sam Glasscock III, due to retire later this year, presided over a wide-ranging caseload during his long Court of Chancery career. Since joining the court, initially as a master in chancery — a position now dubbed magistrate in chancery — he took on litigation that included disputes involving some of the country's largest corporations, while also juggling cases as local as illegal junkyard disputes and, in one instance, a deep dive into colonial-era land records in a dueling deeds lawsuit.

  • February 15, 2024

    Aurinia Refocusing After Failed Effort To Find A Buyer

    Kidney-focused biotech Aurinia Pharmaceuticals is hitting pause on drug development, cutting jobs and initiating a $150 million stock buyback program, the company disclosed in its year-end financial report Thursday.

  • February 15, 2024

    Tax On Tribune's Cubs Sale Troubling, 7th Circ. Judge Says

    A Seventh Circuit judge said Thursday he was troubled by an IRS push to tax Tribune Media Co. on some gains from its sale of the Chicago Cubs that stemmed from a $425 million debt transaction, saying the agency seemed to ignore the relevant legal test.

  • February 15, 2024

    FTC's Khan Calls Healthcare 'Key' To Fight For Competition

    Federal Trade Commission Chair Lina Khan told a conference of physicians the agency is fighting corporate control at several levels of the healthcare industry, touting the sector as a key battleground in the administration's push for more competition across the economy.

  • February 15, 2024

    Chancery Nixes Most Of Frank Founder's $835K Fee Demand

    The indicted founder of student financial planning venture Frank may not "shoehorn" new legal fee claims into a May 2023 court order that JPMorgan Chase Bank NA pay her defense on charges that she defrauded the bank when it bought her startup for $175 million in 2021, Delaware's Court of Chancery has ruled.

  • February 15, 2024

    Trump Social Media Blank-Check Merger Gets SEC Approval

    The blank-check company looking to take former President Donald Trump's social media platform public has obtained approval from the U.S. Securities and Exchange Commission to move forward with the long-delayed merger, according to a recent regulatory filing.

  • February 15, 2024

    Japan's Renesas Paying $5.9B For Software Company Altium

    Japanese semiconductor maker Renesas Electronics said Thursday it has agreed to buy automation software company Altium Ltd. for about $9.1 billion Australian dollars ($5.9 billion) as it looks to bolster its electronics design product offerings, sending Altium's stock soaring about 29%.

  • February 15, 2024

    M&A Group Of The Year: Sullivan & Cromwell

    Sullivan & Cromwell LLP's mergers and acquisitions team tackled some of the biggest, industry-shaping matters of the last year, including advising Seagen in the biggest all-cash pharma deal and representing Amgen in its $27.8 billion acquisition of Horizon Therapeutics, landing the firm a spot on Law360's 2023 Mergers & Acquisitions Groups of the Year.

  • February 15, 2024

    Deals Rumor Mill: Sony-Michael Jackson, Inspire IPO, Walmart

    Sony plans to acquire half of Michael Jackson's catalog; private equity firm Roark Capital is planning to list Inspire Brands, which owns Dunkin' and other food chains; and Walmart is pursuing an acquisition of TV maker Vizio. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • February 15, 2024

    Vice Chancellor Sam Glasscock Retiring From Del. Chancery

    Delaware's Court of Chancery will lose its current longest-serving, and perhaps most folksy, jurist this year with the planned retirement of Vice Chancellor Sam Glasscock III from the court after nearly 25 years, Delaware's chief justice revealed today.

  • February 14, 2024

    Campbell Soup Says It Gave FTC Info For $2.7B Sauce Deal

    Campbell Soup Co. has given the Federal Trade Commission all the information the agency has asked for concerning its planned acquisition of Sovos Brands, the owner of the popular sauce brand Rao, before the agency decides whether to give the $2.7 billion union its blessing.

  • February 14, 2024

    Telefonica Gets Win In $570M Busted Deal Dispute

    A New York state judge has said Spanish telecommunications company Telefonica SA is entitled to compensatory damages in a suit it launched against Millicom International Cellular SA over claims the mobile provider reneged on a $570 million deal to buy Telefonica's Costa Rican subsidiary.

  • February 14, 2024

    Karuna Faces Investor Suit Over $14B Bristol Myers Buyout

    A Karuna Therapeutics Inc. shareholder has filed suit against the Boston-based biotechnology company alleging a proxy statement related to a proposed $14 billion buyout deal between Karuna and Bristol Myers Squibb contained false and misleading information and omitted key facts.

  • February 14, 2024

    Del. Justices Mull Reviving $500M Maxim Merger Suit

    Former shareholders of circuit maker Maxim Integrated Products Inc. told Delaware's top court Wednesday the investors weren't fully informed when they approved a $21 billion merger with Analog Devices Inc. that also cut off a $500 million, four-quarter string of dividends.

  • February 14, 2024

    Adagio Medical Goes Public In $128M SPAC Merger

    Adagio Medical, a catheter ablation tech maker, and Arya Sciences, a special purpose acquisition company, said on Wednesday that they would merge, taking the combined company public at a $128 million value, guided by respective legal adviser Reed Smith and Kirkland.

  • February 14, 2024

    Colo. Wants To Stop $24B Kroger Merger, 'No Poach' Deal

    Colorado's attorney general on Wednesday sued to block a proposed $24.6 billion merger between Kroger and Albertsons, alleging in a state court complaint that the deal between the state's two largest grocery chains would result in a virtual monopoly in some regions and harm consumers and workers.

  • February 14, 2024

    Breast Implant Co. Wants Ch. 11 Sale Closed In 60 Days

    A Delaware bankruptcy judge granted breast implant manufacturer Sientra preliminary approval Wednesday to tap $22.5 million in Chapter 11 financing and start the process of selling its business within a two-month timetable.

  • February 14, 2024

    Drug Co. Paratek's Officers Sued In Del. Over $462M Sale

    Former stockholders of drug developer Paratek Pharmaceuticals Inc. have sued five directors and officers in Delaware's Court of Chancery, accusing those named of slow-walking company sale efforts and snubbing up to 50% higher offers in favor of a $462 million deal that allegedly assured the directors and officers maximum benefits.

  • February 14, 2024

    Biotech Nabs $200M Via Private Placement, Starts CEO Search

    Public gene therapy company enGene Holdings Inc. announced Wednesday that it will sell 20 million of its common shares, raising an anticipated private placement of around $200 million, to fund the development of its lead compound EG-70.

Expert Analysis

  • 4 PR Pointers When Your Case Is In The News

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    Media coverage of new lawsuits exploded last year, demonstrating why defense attorneys should devise a public relations plan that complements their legal strategy, incorporating several objectives to balance ethical obligations and advocacy, say Nathan Burchfiel at Pinkston and Ryan June at Castañeda + Heidelman.

  • Antitrust Enforcement Initiatives To Watch In 2024

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    The U.S. Department of Justice is likely to prioritize information-sharing prosecutions in 2024, following last year's withdrawal of safe harbors, as well as labor market enforcement after trial losses forced a pullback in 2023, say attorneys at Fried Frank.

  • Law Firm Strategies For Successfully Navigating 2024 Trends

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    Though law firms face the dual challenge of external and internal pressures as they enter 2024, firms willing to pivot will be able to stand out by adapting to stakeholder needs and reimagining their infrastructure, says Shireen Hilal at Maior Consultants.

  • The Most-Read Legal Industry Law360 Guest Articles Of 2023

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    A range of legal industry topics drew readers' attention in Law360's Expert Analysis section this year, from associate retention strategies to ethical billing practices.

  • What The 2023 Bank Failures Taught Us, And What's To Come

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    As 2023 draws to a close, it's apparent that the bank failures this past spring sparked a seismic shift in the regulatory and supervisory landscape for banking organizations, and the consequences are still continuing to be felt throughout the financial sector as we head into 2024, say attorneys at Morgan Lewis.

  • Trends Shaping The 2024 Consumer Packaged Goods Industry

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    The better-for-you segment within the consumer packaged goods industry is poised for a significant evolution in 2024, and industry players must remain agile and adaptive through M&A activities, legal considerations, sustainability initiatives and changing technology, says Christopher Cain at Foley & Lardner.

  • Attorneys' Busiest Times Can Be Business Opportunities

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    Attorneys who resolve to grow their revenue and client base in 2024 should be careful not to abandon their goals when they get too busy with client work, because these periods of zero bandwidth can actually be a catalyst for future growth, says Amy Drysdale at Alchemy Consulting.

  • In The World Of Legal Ethics, 10 Trends To Note From 2023

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    Lucian Pera at Adams and Reese and Trisha Rich at Holland & Knight identify the top legal ethics trends from 2023 — including issues related to hot documents, artificial intelligence and cybersecurity — that lawyers should be aware of to put their best foot forward.

  • Del. Dispatch: The 2023 Corporate Cases You Need To Know

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    Corporate and mergers and acquisitions litigation has continued at a fevered pace this year, with the Delaware courts addressing numerous novel issues with important practical implications, including officer exculpation and buyer aiding-and-abetting liability, say attorneys at Fried Frank.

  • How Attorneys Can Be More Efficient This Holiday Season

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    Attorneys should consider a few key tips to speed up their work during the holidays so they can join the festivities — from streamlining the document review process to creating similar folder structures, says Bennett Rawicki at Hilgers Graben.

  • Exploring Middle-Market M&A Trends In 2023 And Beyond

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    Middle-market merger and acquisition activity this year was affected by a number of economic, legal and regulatory shifts, with certain trends pointing to favorable transaction conditions in 2024, say Jason Brauser and William Goodling at Stoel Rives.

  • Understanding Advance Notice Bylaws Is Key For All Parties

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    Recent developments in Delaware case law show that advance notice bylaws will be strictly construed and that Delaware courts will generally uphold clear, unambiguous bylaws adopted and applied reasonably, a lesson for both companies and stockholders alike as the number of companies rejecting director nominations by dissident stockholders has increased, say attorneys at MoFo.

  • A Former Bankruptcy Judge Talks 2023 High Court Rulings

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    In 2023, the U.S. Supreme Court issued four bankruptcy law opinions — an extraordinary number — and a close look at these cases signals that changes to the U.S. Bankruptcy Code will have to come from Congress, not the courts, says Phillip Shefferly at the University of Michigan Law School.

  • Series

    Children's Book Writing Makes Me A Better Lawyer

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    Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.

  • A Review Of 2023's Most Notable Securities Litigation

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    There is much to be learned from the most prominent private securities cases of 2023, specifically the Tesla trial, the U.S. Supreme Court's Slack decision and the resolution of Goldman Sachs litigation, but one lesson running through all of them is that there can be rewards at the end of the line for defendants willing to go the distance, say attorneys at Fried Frank.

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