Mergers & Acquisitions

  • February 27, 2024

    Macy's To Cut Stores, Focus On Luxury Amid Proxy Fight

    Macy's announced a plan Tuesday to close 150 stores, add new luxury-focused locations and monetize at least $600 million worth of its assets as it faces a proxy fight from activist investors that offered $5.8 billion for the company last month.

  • February 27, 2024

    Chevron's $53B Hess Buy Hits Snag Over Guyana Oil Dispute

    Chevron has revealed in a regulatory filing that Exxon Mobil Corp. and the China National Offshore Oil Corp. believe they have preemptive rights to buy Hess' stake in a lucrative oil project off the coast of Guyana, a hitch Chevron said could lead to failure to close its planned $53 billion acquisition of Hess. 

  • February 27, 2024

    Investors Can't Block $1.6B Oil Co. Merger, Chancery Says

    Warrant holders of deep-water oil producer QuarterNorth Energy who say they're being dragged unwillingly into its $1.6 billion merger with Talos Energy may not prevent the cashing out of their warrants because it could jeopardize the transaction and hurt QuarterNorth shareholders, Delaware's Court of Chancery has ruled.

  • February 27, 2024

    Arnold & Porter Transactions Vet Joins Foley & Lardner

    Foley & Lardner LLP announced it has brought on a former Arnold & Porter Kaye Scholer LLP attorney with over 30 years of experience working on transactional matters as a partner in its Silicon Valley, California, office.

  • February 27, 2024

    Fox Rothschild Taps Sarasota-Area Firm Attys For New Office

    Fox Rothschild LLP has widened its Florida footprint with the opening of an office in Sarasota and the addition of a three-attorney team from Blalock Walters PA.

  • February 27, 2024

    UFC, Fighters In Mediation Ahead Of Wage Suppression Trial

    Ultimate Fighting Championship has entered private mediation with a group of fighters suing the promotion in Nevada federal court for suppressing their wages by up to $1.6 billion, adding a new wrinkle to the case just weeks ahead of trial.

  • February 27, 2024

    Real Estate Group Of The Year: Greenberg Traurig

    Greenberg Traurig LLP attorneys helped the Metropolitan Transportation Authority complete the development of a major train terminal in New York City and advised a $2 billion transaction in which a Japanese real estate firm bought a 50% stake in a Manhattan office tower, landing the firm a spot among Law360's 2023 Real Estate Groups of the Year.

  • February 27, 2024

    Deal-Makers Expect Further Uptick In M&A-Related Disputes

    Global deal-makers expected increases in mergers and acquisitions-related disputes moving into 2024 after high interest rates and financing constraints created challenges to sealing deals, according to Berkeley Research Group's M&A Disputes Report 2024, which was reviewed by Law360 on Tuesday and is expected to be released in the coming days.

  • February 27, 2024

    Atlas Energy Solutions Buying Hi-Crush In $450M Deal

    Atlas Energy Solutions Inc. said Tuesday it has agreed to purchase Hi-Crush Inc., including its Permian Basin proppant production assets and North American logistics operations, in a transaction that is valued at $450 million and expected to close by the end of this month.

  • February 26, 2024

    Latham, Jackson Walker Avoid Sanctions Over Sorrento Venue

    A Texas bankruptcy judge declined to level sanctions against Latham & Watkins LLP and Jackson Walker LLP for trying to establish Texas jurisdiction for California-based Sorrento Therapeutics Inc. in its Chapter 11 bankruptcy, finding that their conduct did not amount to bankruptcy fraud.

  • February 26, 2024

    Live Nation Can't Cancel Suit Over Eras Tour Sales Meltdown

    A California federal judge refused Friday to end a proposed securities class action alleging Live Nation made misleading statements about its operations when news of alleged anticompetitive practices with Ticketmaster caused stock prices to drop, finding the suit describes "a materially different state of affairs" than what Live Nation claimed.

  • February 26, 2024

    Del. Justices Back Toss Of $500M Maxim-Analog Merger Suit

    The Delaware Supreme Court on Monday refused to revive investors' $500 million challenge to Maxim Integrated Products Inc.'s $21 billion merger with Analog Devices Inc., leaving intact a Chancery Court decision throwing out the case in May.

  • February 26, 2024

    Proxy Advice Is Not Solicitation, DC Judge Rules In SEC Case

    A D.C. federal judge tossed U.S. Securities and Exchange Commission regulations that define voting advice from proxy advisory firms as solicitation under agency rules, granting a win to one such firm following years of on-and-off litigation.

  • February 26, 2024

    JetBlue, Spirit Tell 1st Circ. $3.8B Deal Is Good For Most Fliers

    JetBlue Airways and Spirit Airlines told the First Circuit on Monday that a $3.8 billion merger should not have been blocked because the judge who stopped the sale sought to protect a small, hypothetical subset of travelers to the detriment of the vast majority who stand to benefit from the deal.

  • February 26, 2024

    Ropes & Gray-Led THL Taking Agiliti Private In $2.5B Deal

    Medical equipment management company Agiliti is going private in a deal with private equity firm Thomas H. Lee Partners, Agiliti announced Monday.

  • February 26, 2024

    Blackwells Calls Out Disney For 'AI Mediocrity' In Proxy Battle

    Blackwells Capital ramped up its activist investor campaign against The Walt Disney Co. on Monday, laying out a "strategic plan" that includes calls for the storied entertainment company to rise above its current "technological shortcomings," including its "AI mediocrity."

  • February 26, 2024

    Catching Up With Delaware's Chancery Court

    Delaware's Court of Chancery dropped two potentially far-reaching decisions last week: one about founder control at Moelis & Co. and another about TripAdvisor's planned move to Nevada. On top of that, there were new cases involving Citrix Systems, Alcoa Corp., BGC Partners Inc. and Cantor Fitzgerald LP.

  • February 26, 2024

    Real Estate Group Of The Year: Fried Frank

    Fried Frank Harris Shriver & Jacobson LLP helped clients close deals last year for the development of prominent additions to the New York City and Las Vegas skylines, earning the firm a spot among Law360's 2023 Real Estate Groups of the Year.

  • February 26, 2024

    Ashurst, Davis Polk-Led Alcoa To Buy Alumina In $2.2B Deal

    Ashurst LLP and Davis Polk & Wardwell LLP are guiding Pittsburgh-based Alcoa on a preliminary agreement to buy Australia's Alumina Ltd. at an implied equity value of about $2.2 billion, in a deal confirmed by Alumina on Monday.

  • February 26, 2024

    FTC Challenges Kroger's $25B Albertsons Buy

    The Federal Trade Commission announced a new, national front Monday against Kroger's heavily criticized $24.6 billion purchase of fellow grocery store giant Albertsons, challenging a deal it said threatens both shoppers and workers and cannot be saved by the planned divestiture of a "hodgepodge" of hundreds of stores.

  • February 26, 2024

    KKR Buying Former VMware Unit From Broadcom In $4B Deal

    Simpson Thacher & Bartlett LLP-advised KKR said Monday it has agreed to acquire Broadcom Inc.'s end-user computing division in a transaction valued at approximately $4 billion, with Wachtell Lipton Rosen & Katz and O'Melveny & Myers LLP representing Broadcom on the deal. 

  • February 26, 2024

    Skadden Leads Iliad's Buy Of 20% Stake In Tele2 For $1.3B

    French telecommunications group Iliad SA said on Monday that it will take a 19.8% stake in Swedish mobile network provider Tele2 AB for 13 billion Swedish kronor ($1.3 billion), a move it said will help boost "innovation" at both firms in next-generation networks.

  • February 26, 2024

    Corrs Advises Saint-Gobain On $3B Deal For Australia's CSR

    French construction materials giant Saint-Gobain said Monday that it will buy Australian rival CSR Ltd. for a total of 4.5 billion Australian dollars ($3 billion) in cash in a move to establish its presence in the Asia-Pacific materials market.

  • February 23, 2024

    Momentive Shareholders Battle In Del. Over $19M Settlement

    Hedge funds with shares of Momentive Performance Materials Inc. that withdrew from a consolidated class lawsuit over the silicone maker's $3.1 billion sale in 2019 urged Delaware's Court of Chancery on Friday to carve them out of a proposed $19 million class settlement, accusing their former co-lead counsel of grabbing their "cake."

  • February 23, 2024

    Ex-Citrix Chief Hit With Class Action Over $16.5B Sale

    A proposed class of former Citrix Systems Inc. stockholders accused the company's former CEO and chairman Robert M. Calderoni of failing to get enough for stockholders for the $16.5 billion sale of the cloud software company to Vista Equity Partners Management LLC and Elliott Investment Management LP affiliate Evergreen Coast Capital Corp.

Expert Analysis

  • Series

    Playing Competitive Tennis Makes Me A Better Lawyer

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    My experience playing competitive tennis has highlighted why prioritizing exercise and stress relief, maintaining perspective under pressure, and supporting colleagues in pursuit of a common goal are all key aspects of championing a successful legal career, says Madhumita Datta at Lowenstein Sandler.

  • Series

    The Pop Culture Docket: Judge Djerassi On Super Bowl 52

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    Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.

  • Reverse Merger Tips For Biotechs After SEC's Recent Actions

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    Several recent U.S. Securities and Exchange Commission developments could limit the viability of reverse mergers for biotech companies, and will require additional creativity and analysis for private companies looking to go public, say attorneys at Orrick.

  • What R&W Insurance Access Means For Small-Cap M&A

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    As a slowdown in mergers and acquisitions has increased insurer appetite for underwriting small-cap transactions, buyers of small and midsize enterprises stand to benefit from easier access to representations and warranties insurance, which can add protection and reassurance for all parties involved in a deal, say Caroline Thee and Ewelina Mikocewicz at Taft Stettinius.

  • Del. Dispatch: Efforts Clause Trumps Contractual Right

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    The Delaware Court of Chancery's Chordia v. Lee ruling this month — that the efforts clause set forth in a stockholders' agreement overrode the acquired company's right to fire its officers and employees — highlights key considerations for parties in such agreements to avoid post-acquisition disputes, say attorneys at Fried Frank.

  • Employee Experience Strategy Can Boost Law Firm Success

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    Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.

  • Series

    Competing In Triathlons Makes Me A Better Lawyer

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    While practicing law and competing in long-distance triathlons can make work and life feel unbalanced at times, participating in the sport has revealed important lessons about versatility, self-care and perseverance that apply to the office as much as they do the racecourse, says Laura Heusel at Butler Snow.

  • Notes Of Interest From 5th Circ. Illumina-Grail Merger Ruling

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    Attorneys at Simpson Thacher consider the Fifth Circuit's recent decision upholding the Federal Trade Commission's challenge of the Illumina merger with Grail, its much-needed boost to the Biden administration's antitrust agenda, and some silver linings the decision offers to merging parties.

  • Where Justices Stand On Chevron Doctrine Post-Argument

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    Following recent oral argument at the U.S. Supreme Court, at least four justices appear to be in favor of overturning the long-standing Chevron deference, and three justices seem ready to uphold it, which means the ultimate decision may rest on Chief Justice John Roberts' vote, say Wayne D'Angelo and Zachary Lee at Kelley Drye.

  • GAO Decision Underscores Complexity Of '180-Day Rule'

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    The Government Accountability Office's ruling last month in Washington Business Dynamics, evaluating its eligibility for a small business set-aside contract, provides an important reminder for companies to stay vigilant of developments around the evolving "180-day rule" for submitting a proposal, say Stephen Ramaley and Adam Bartolanzo at Miles & Stockbridge.

  • Perspectives

    6 Practice Pointers For Pro Bono Immigration Practice

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    An attorney taking on their first pro bono immigration matter may find the law and procedures beguiling, but understanding key deadlines, the significance of individual immigration judges' rules and specialized aspects of the practice can help avoid common missteps, says Steven Malm at Haynes Boone.

  • Bank M&A Considerations Amid 2024's Regulatory Uncertainty

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    Following the decline in banking mergers to the lowest level in more than a decade last year, receptiveness to community bank combinations and positive macroeconomic factors may help banks with less than $50 billion in assets see increased deal-making opportunities this year, despite regulatory uncertainty, say Robert Azarow and Amber Hay at Arnold & Porter.

  • Lessons From Country Singer's Personal Service Saga

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    Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.

  • Inside Del. Determinations Of Specific Performance In M&A

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    Delaware M&A rulings, including several from the end of 2023, shed light on the facts that courts may consider when determining whether a party to a transaction is entitled to specific performance, say attorneys at White & Case and Odeko.

  • 9 Contractual Issues Tech Startups Should Be Wary Of

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    Technology startups often overlook relatively simple but crucial contracting steps that are essential to owning and protecting their intellectual property, and the consequences of this will almost always surface at some point, typically in connection with a key investment or other significant transaction involving the business, say attorneys at Mayer Brown.

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