Mergers & Acquisitions

  • February 14, 2024

    Juul Gets More Antitrust Claims To Arbitration

    A California federal judge has sent two more claims against Juul to arbitration and dismissed a request for an injunction to block Altria's already-unwound investment in the company.

  • February 14, 2024

    NYCB Faces Another Class Action Over CRE Challenges

    A New York Community Bank investor has brought a proposed class action alleging that executives falsely boasted of the bank's financial condition after making two large acquisitions, when the deals in fact weighed down its balance sheet and led to a significant dividend reduction.

  • February 14, 2024

    Musk To Face Severance Fight In Del. Court After Stay Lifted

    A proposed class action claiming workers didn't receive their severance or were fired after Elon Musk acquired Twitter is back on track after a Delaware federal judge lifted a temporary stay Wednesday.

  • February 14, 2024

    Owner Forms Holding Co. For NBA's Suns, WNBA's Mercury

    Phoenix Suns owner Mat Ishbia on Wednesday announced the formation of a new holding company that will own the NBA's Suns, the WNBA's Mercury, the operating rights to their arena and a new G League developmental affiliate that the Suns recently bought.

  • February 14, 2024

    BAE's $5.6B Bid For Ball Aerospace Arm Clears Review

    The U.S. Department of Justice has ended its review of BAE Systems PLC's acquisition of Ball Corp.'s aerospace subsidiary for $5.6 billion, providing the last approval needed for the transaction, the companies said Wednesday.

  • February 14, 2024

    Mergers & Acquisitions Group Of The Year: Latham

    Latham & Watkins LLP had a strong year bringing companies and assets together for their clients, from the UFC's $21 billion merger with the WWE to guiding the years' largest energy transaction in the U.S., earning it a spot among Law360's 2023 Mergers And Acquisitions Groups of the Year.

  • February 14, 2024

    North Face, Vans Owner VF Makes Deal With Engaged Capital

    Activist investor Engaged Capital got its wish for two new board members at apparel company VF Corp. after striking a deal with the company to add Caroline Brown, as well as another director in the near future with guidance from the firm.

  • February 14, 2024

    KKR Buys Stake In Health Tech Biz Cotiviti At $10.5B Valuation

    Private equity firm KKR & Co. Inc. has agreed to acquire a stake in healthcare analytics company Cotiviti from Veritas Capital, Cotiviti announced Wednesday, in a deal valuing the target at about $10.5 billion.

  • February 14, 2024

    Belgian Law Firm Guides Shipowner In €2B Bid For Rival

    Belgian shipping group Compagnie Maritime Belge NV said Wednesday it has launched a bid to buy all the shares in rival Euronav NV that it does not already own for €2 billion ($2.2 billion) to expand its presence in Europe.

  • February 13, 2024

    Ambrx Shareholders Sue Over Proposed $2B J&J Deal

    Two new suits filed in Delaware federal court allege Ambrx Biopharma Inc. and its top executives omitted important information about a $2 billion proposed Johnson & Johnson buyout in the deal's proxy statement.

  • February 13, 2024

    Soroc Tech Sues In Del. For $115M Merger Takeback

    Soroc Technology Holdings LLC sued MainOne Technology Solutions LLC on Tuesday in Delaware's Court of Chancery, seeking recovery of the $115 million it paid in early 2022 for its acquisition of MainOne's interest in DecisionOne Corp.

  • February 13, 2024

    Food Co. Whole Earth Brands Taken Private In $209M Deal

    Food company Whole Earth Brands said Tuesday it will be acquired by private equity-backed Sweet Oak Holdings, which will take the company private in a deal worth about $209 million that was crafted by DLA Piper and Greenberg Traurig LLP.

  • February 13, 2024

    Qihoo 360, Investors Ink $29.75M Deal Over $9.3B Merger Suit

    Investors suing Chinese software company Qihoo 360 Technology Co. Ltd. asked a New York federal judge to approve a $29.75 million settlement ending claims the firm worked to push down its share price in order to pay shareholders an unfairly low price when it went private by means of a $9.3 billion merger.

  • February 13, 2024

    Insurers Must Pay Pharma Co. Defense Costs In SEC Probe

    A drug development company formed by a merger is entitled to insurance payments for expenses it paid two of its former officers in connection with federal subpoenas because the insurer failed to show that an exclusion applied, a California federal judge ruled Monday.

  • February 13, 2024

    Kroger Says Its Past Shows Albertsons Deal Will Drop Prices

    Kroger has shared some statistics that it says show its merger with the country's second-biggest grocery chain, Albertsons, won't be a bad thing, pointing to evidence that prices usually drop at a grocery chain after being acquired by Kroger.

  • February 13, 2024

    Antitrust Issues To Watch In Sports Giants' Streaming Venture

    Few details were provided in last week's announcement of a joint venture under which ESPN, Fox and Warner Bros. Discovery will combine their vast live sports portfolios into a single app. But as the companies work out the details of a project they hope to roll out this autumn, one thing is clear: The Justice Department is almost certain to take a look.

  • February 13, 2024

    Nava Health To Go Public Via $320M SPAC Merger

    Health clinic chain Nava Health is planning on going public through a merger with blank-check company 99 Acquisition Group in a $320 million deal led by two law firms, the companies announced Tuesday.

  • February 13, 2024

    ESPN Bet To Launch In NY After Sports Betting Licenses Deal

    Penn Entertainment Inc. revealed Tuesday that it is acquiring New York mobile sports wagering licenses from Kirkland & Ellis LLP-advised Wynn Interactive Holdings for $25 million, allowing the entertainment giant to launch ESPN Bet in the state.

  • February 13, 2024

    Carl Icahn Sets Sights On JetBlue, Scooping 10% Share

    Activist investor Carl Icahn has revealed in a securities filing that he has amassed a nearly 10% stake in JetBlue Airways, a disclosure that sent the airline's stock price soaring more than 20% on Tuesday. 

  • February 13, 2024

    OpenText Wants Out Of Class Action Coverage Suit

    OpenText told a Michigan federal court it should be dismissed from an insurer's suit seeking to avoid coverage of a class action from former Covisint shareholders alleging an unfair merger, saying it's not involved in the underlying case and its only alleged connection is that it acquired outstanding Covisint stock.

  • February 13, 2024

    Catching Up With Delaware's Chancery Court

    A pizza chain, an energy company, a medical-device maker and a Manila casino were all hit with book-and-record demands last week in Delaware's Court of Chancery. A shoe company also walked away from a shareholder suit, two cryptocurrency companies tallied the costs of a broken merger, and three cigarette giants argued over Florida settlement payments.

  • February 13, 2024

    Allen & Overy, Ropes & Gray Steer $1B Asset Manager Merger

    Financial services company LPL Financial, advised by Allen & Overy LLP, on Tuesday announced that it has agreed to buy wealth management solutions holding company Atria Wealth Solutions Inc., advised by Ropes & Gray LLP, for up to $1.035 billion in a deal that adds approximately $100 billion worth of assets to LPL's portfolio.

  • February 13, 2024

    Mergers & Acquisitions Group Of The Year: Davis Polk

    Davis Polk & Wardwell LLP guided Exxon Mobil Corp. in its agreement to buy Permian Basin shale producer Pioneer Natural Resources for $59.5 billion, the largest deal announced in 2023, landing the firm a spot among Law360's Mergers & Acquisitions Groups of the Year.

  • February 13, 2024

    Elliott Nails 1st Board Seat At Phillips 66 After Prior Demand

    Oil refiner Phillips 66 said Tuesday it has named former Cenovus Energy executive Robert W. Pease to its board, caving to pressure from Elliott Investment Management after the activist investor revealed it bought up a $1 billion stake in the company and was seeking two board seats.

  • February 13, 2024

    Akerman Grows In NY With Real Estate, Corporate Additions

    Akerman LLP recently announced two additions to its New York office: a former Faegre Drinker Biddle & Reath LLP partner and an attorney who helped launch the Washington, D.C., office of an international law firm.

Expert Analysis

  • 4 Key Ways CFIUS Affected Private Equity In 2023

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    Sponsors and investment professionals should note how escalated enforcement by the Committee on Foreign Investment in the United States in 2023 affected private equity deal making and evaluate their CFIUS-related procedures in preparation for the regulator's reach to expand further next year, say attorneys at Kirkland.

  • How Clients May Use AI To Monitor Attorneys

    Excerpt from Practical Guidance
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    Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.

  • UK Takeover Code Changes: Key Points For Bidders, Targets

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    Newly effective amendments to Rule 21 of the U.K. Takeover Code, which remove legal and administrative constraints on a target operating its business in the ordinary way during an offer, will add clarity for targets and bidders, and are likely to be welcomed by both, say lawyers at Davis Polk.

  • 7 Enforcement Predictions For US Export Controls, Sanctions

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    Federal agencies' assertions of coming increases in export-control and sanctions-violations enforcement are not new, but recent improvements in resources and inter-agency cooperation allow for certain predictions about how the administration’s latest approach to enforcement may be applied going forward, say attorneys at Akin.

  • 8 Ways To Negotiate Improved Disgorgement Outcomes

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    The U.S. Securities and Exchange Commission's nearly $3.4 billion collected in disgorgements in 2023 shows that substantial disgorgement claims from regulators and law enforcement are the new norm, but corporations may be able to dramatically reduce what they owe by using eight strategies to argue for reduced net profit calculations, say experts at AlixPartners.

  • Series

    The Pop Culture Docket: Judge D'Emic On Moby Grape

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    The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.

  • What Banks Should Know About FDIC Assessment Rule

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    Max Bonici at Venable answers questions banking organizations may have about the Federal Deposit Insurance Corp.'s recent approval of a rule implementing a special assessment on banks to recoup costs associated with protecting uninsured depositors after the bank failures earlier this year, and highlights other considerations for uninsured deposits.

  • Series

    Performing Music Makes Me A Better Lawyer

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    The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.

  • EU Rejection Of Booking.com Deal Veers From Past Practice

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    The European Commission's recent prohibition of Booking's purchase of Etraveli based on ecosystem theories of harm reveals a lower bar for prohibiting nonhorizontal mergers, and may mean increased merger scrutiny for companies with entrenched market positions in digital markets, say lawyers at Linklaters.

  • Breaking Down High Court's New Code Of Conduct

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    The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.

  • Mitigating Antitrust Risk Amid Increased Dealmaking Scrutiny

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    While deals continue to get done despite 60% of significant merger investigations in the U.S. last year concluding with a complaint or abandoned transaction, private equity firms should identify and assess potential antitrust risks and develop strategies to mitigate them early in the deal process, say attorneys at Dechert.

  • Opinion

    Legal Profession Gender Parity Requires Equal Parental Leave

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    To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.

  • Opinion

    Activist Short-Sellers Are The Dark Knights Of Wall Street

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    While so-called activist short-sellers have been subject to increased scrutiny in recent years, these investors work in the shadows like Batman to expose fraud on Wall Street, often generating leads that may move regulators to take action, say attorneys at Labaton Sucharow.

  • Series

    Writing Thriller Novels Makes Me A Better Lawyer

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    Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.

  • What Lawyers Must Know About Calif. State Bar's AI Guidance

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    Initial recommendations from the State Bar of California regarding use of generative artificial intelligence by lawyers have the potential to become a useful set of guidelines in the industry, covering confidentiality, supervision and training, communications, discrimination and more, say attorneys at Debevoise.

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