Mergers & Acquisitions

  • February 02, 2024

    Drugmaker Endo Wants To Extend Opioid Suit Pause

    Endo has asked a New York bankruptcy judge to pause the opioid litigation leveled against it for five more months, asserting that the pharmaceutical company made "wide-ranging progress" in its Chapter 11 case and expects to have a reorganization plan confirmed by March.

  • February 02, 2024

    T-Mobile Owes Sprint Cloud-Storage Vendor $6.2M, Suit Says

    T-Mobile USA Inc. is accused of refusing to pay $6.2 million after a technology company said it struck a deal to develop a cloud storage feature with Sprint, only to see the deal fall through after the T-Mobile-Sprint merger, according to a lawsuit filed Thursday in Washington federal court.

  • February 02, 2024

    Consumer Data Co. Cleared To Seek Ch. 11 Plan Votes

    A Pasadena, California-based consumer data gathering platform can solicit votes for a Chapter 11 plan that the company hopes to get confirmed in March, a Delaware bankruptcy judge decided on Friday.

  • February 02, 2024

    Latham Led Firms In January IPOs As New Listings Pick Up

    Latham & Watkins LLP assumed work on more initial public offerings than any other law firm in January, steering five IPOs for companies and underwriters during a month that saw a rise in new listings that could portend additional momentum beyond February.

  • February 02, 2024

    3 BigLaw Firms Guide Trans Rights Groups In Pending Merger

    A trio of large law firms are providing pro bono representation to help two national transgender civil rights organizations navigate a planned merger that the groups' leaders say will amplify their voices as they advocate for trans people across the country.

  • February 02, 2024

    Ill. Towns, Metra Ask DC Circ. To Void CP-KCS Rail Merger

    Several Illinois towns and Chicago's commuter rail system told the D.C. Circuit on Friday that federal regulators improperly approved Canadian Pacific's $31 billion merger with Kansas City Southern without fully vetting the public safety and environmental harms resulting from increased rail traffic congestion in the Windy City.

  • February 02, 2024

    Del. Justices Uphold Chancery Toss Of Baker Hughes Suit

    The Delaware Supreme Court has upheld a decision ending consolidated derivative litigation by Baker Hughes stockholders who alleged a series of transactions in 2018 unfairly benefited GE, finding that the Court of Chancery had discretion to dismiss the case based on testimony of a one-member litigation committee.

  • February 02, 2024

    Off The Bench: NIL In Court, $3B Golf Deal, Angelos Sells O's

    In this week's Off The Bench, the NCAA's legal woes mount as two states lob antitrust claims against its name, image and likeness payment rules, the PGA Tour secures a $3 billion investment as talks with LIV Golf trudge on, and the Angelos family sells its stake in the Baltimore Orioles.

  • February 02, 2024

    FTX Looks To Sell $175M Crypto Claim Against Genesis

    Defunct cryptocurrency giant FTX has asked Delaware's bankruptcy court for permission to sell a $175 million claim it was granted against Genesis Global through a settlement last year with the also-insolvent virtual assets business.

  • February 02, 2024

    Morgan Lewis Accused Of Improperly Helping Health Biz CEO

    A healthcare company with offices in New Jersey alleged this week that a Morgan Lewis & Bockius LLP partner committed malpractice during a deal to sell the company by aiding its then-CEO in negotiating a $9 million bonus for himself, at the expense of the business.

  • February 02, 2024

    Activist Barington Capital Takes Aim At Toy Giant Mattel

    Activist investor Barington Capital has set its sights on Mattel Inc., the company behind Barbie and other popular toy brands, saying that the business requires "immediate actions" to create long-term value for shareholders.

  • February 02, 2024

    UK Regulator Examining Thermo Fisher's $3.1B Olink Buy

    The U.K.'s Competition and Markets Authority said Friday that it is looking into American biotechnology company Thermo Fisher Scientific's planned $3.1 billion purchase of Swedish biotech business Olink to determine whether it will result in reduced competition.

  • February 02, 2024

    Taxation With Representation: Simpson, Wachtell Lipton

    In this week's Taxation With Representation, Rise Growth Partners receives a $250 million investment, a group of investors led by Carlyle Group co-founder David Rubenstein acquires a controlling stake in MLB's Baltimore Orioles, The Cigna Group sells multiple Medicare businesses to Health Care Service Corp., and WillScot Mobile buys McGrath RentCorp.

  • February 01, 2024

    After Dechert Says M&A Probes Hit Low, FTC Fires Back

    A new Dechert LLP report found there were just 12 significant U.S. merger investigations concluded in 2023, a 40% drop from 2022 and the lowest since 2011, but the FTC said Thursday that it stands by its numbers and called Dechert's criticism of its reporting "ridiculous." 

  • February 01, 2024

    Kirkland Under Chancery Fire In Space Biz Merger Suit

    Scant disclosures from Kirkland & Ellis LLP about its partners' potential financial stake in a $1.2 billion deal the firm was advising drew sharp scrutiny from Delaware's Court of Chancery at a hearing in Wilmington on Thursday.

  • February 01, 2024

    LivePerson Board Faces Shareholder Suit Over Poison Pill

    Board members of artificial intelligence software company LivePerson face a stockholder derivative action in the Delaware Court of Chancery alleging an activist hedge fund is pushing to prevent LivePerson's sale to a private equity firm.

  • February 01, 2024

    NC, SC Banks To Merge, Form Entity With $2.2B In Assets

    North Carolina-based Dogwood State Bank and South Carolina-based Community First Bancorporation said on Thursday that they planned to merge, with Dogwood acquiring Community First and its subsidiary Community First Bank in a deal guided by Williams Mullen and Brooks Pierce.

  • February 01, 2024

    DOJ Tells 1st Circ. Not To 'Rush' JetBlue, Spirit's Appeal

    The U.S. Department of Justice pushed back Wednesday on JetBlue and Spirit Airlines' bid for the expedited treatment of an appeal that seeks to preserve their $3.8 billion merger after it was blocked by a Massachusetts federal court, telling the First Circuit it has no obligation to meet the airlines' "self-imposed deadline."

  • February 01, 2024

    Tenet Healthcare To Shed 4 Calif. Hospitals For $975M

    Tenet Healthcare Corp. is selling four of its California hospitals in Orange County and Los Angeles County to UCI Health in an all-cash deal of around $975 million, the two announced Thursday.

  • February 01, 2024

    Activist Elliott Gets Etsy Board Seat As Co. Faces Challenges

    Online marketplace Etsy on Thursday revealed that it has added a partner from activist investment firm Elliott Investment Management to its board of directors, a move that comes less than two months after Etsy announced a reorganization that included cutting around 11% of its workforce.

  • February 01, 2024

    Bankrupt Pharma Co. Impel Gets OK For $17.5M Sale

    Migraine-drug maker Impel Pharmaceuticals can proceed with its sale to JN Bidco LLC, which had made a $17.5 million stalking horse bid, U.S. Bankruptcy Judge Stacey G. Jernigan said at a hearing Thursday in a Texas bankruptcy court.

  • February 01, 2024

    Albertsons, Kroger Slam Shoppers' Last Shot To Fight Merger

    Albertsons and Kroger urged a California judge Wednesday to toss for good a challenge to the grocers' proposed $24.6 billion merger, saying the customers' second amended complaint "parrots" arguments the court previously rejected for lack of standing.

  • February 01, 2024

    Golf's Existential Crisis Just Got A $3 Billion Jolt

    The restructuring of professional golf began to take shape this week with a $3 billion outside investment for the PGA Tour, leaving attorneys and academics with even more questions about the flagship promotion's already murky negotiations with its Saudi-backed rival LIV Golf.

  • February 01, 2024

    Deals Rumor Mill: Aramco, Reddit IPO, Figure AI

    Saudi Arabia is planning a follow-on offering of state-run oil giant Saudi Aramco that could raise $10 billion, Reddit is being advised to pursue a $5 billion valuation in its coming IPO, and Microsoft and OpenAI are considering investing $500 million in a humanoid robotics startup. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • February 01, 2024

    Rise Growth Partners Lands $250M Investment From PE Firm

    Rise Growth Partners, advised by Kilpatrick Townsend & Stockton LLP, said Thursday it had received a $250 million investment from middle-market private equity firm Charlesbank Capital Partners, led by Simpson Thacher & Bartlett LLP, that will be used to acquire minority stakes in registered investment adviser firms.

Expert Analysis

  • Opinion

    Newman Suspension Shows Need For Judicial Reform

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    The recent suspension of U.S. Circuit Judge Pauline Newman following her alleged refusal to participate in a disability inquiry reveals the need for judicial misconduct reforms to ensure that judges step down when they can no longer serve effectively, says Aliza Shatzman at The Legal Accountability Project.

  • Practicing Under DOJ 'Safe Harbor' Policy For M&As

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    The U.S. Justice Department's recently announced safe harbor policy for mergers and acquisitions offers greater specificity and predictability for acquiring companies that need time to self-report violations, but it's important to remember that the new window is not endless, say attorneys at Simpson Thacher.

  • SEC's Life Sciences Actions Utilize Novel Tools And Theories

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    Recent enforcement actions show that the U.S. Securities and Exchange Commission is employing new forms of data analytics and noteworthy applications of insider trading laws in its scrutiny of fraud within the life sciences and health industries, say Edward Imperatore and Jina Choi at MoFo.

  • How And Why Your Firm Should Implement Fixed-Fee Billing

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    Amid rising burnout in the legal industry and client efforts to curtail spending, pivoting to a fixed-fee billing model may improve client-attorney relationships and offer lawyers financial, logistical and stress relief — while still maintaining profit margins, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • Opinion

    SEC Actions Against Musk Are Constitutionally Defective

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    The U.S. Securities and Exchange Commission's recent subpoena enforcement action against Elon Musk may be constitutionally and statutorily deficient — and the commission staff who issued the subpoenas and the action may have been unconstitutionally appointed, say Alex Lipman at Lipman Law and Justin Weddle at Weddle Law.

  • Series

    Conn. Banking Brief: The Notable Compliance Updates In Q3

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    The most notable legal changes affecting Connecticut financial institutions in the third quarter of 2023 included increased regulatory protections for consumers, an expansion of state financial assistance for underserved communities, and a panoply of tweaks to existing laws, says Brian Rich at Barclay Damon.

  • Opinion

    Judicial Independence Needs Defense Amid Political Threats

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    Amid recent and historic challenges to the judiciary from political forces, safeguarding judicial independence and maintaining the integrity of the legal system is increasingly urgent, says Robert Peck at the Center for Constitutional Litigation.

  • How Law Firms Can Use Account-Based Marketing Strategies

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    Amid several evolving legal industry trends, account-based marketing can help law firms uncover additional revenue-generating opportunities with existing clients, with key considerations ranging from data analytics to relationship building, say Jennifer Ramsey at stage LLC and consultant Gina Sponzilli.

  • Strategic Succession Planning At Law Firms Is Crucial

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    Senior partners' reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior ranks and provide clearer leadership pathways to junior attorneys, says Laura Leopard at Leopard Solutions.

  • The Impact Of Proposed HSR Form Changes On Agency Staff

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    The Federal Trade Commission's recent proposed changes to the Hart-Scott-Rodino Notification and Report Form will have the unintended effect of drastically increasing the burden on agency staff without an appreciable increase in their ability to detect potentially anti-competitive transactions, say Amanda Wait and Andrew Eklund at Norton Rose.

  • FTC's Health Co. Suit Indicates Agency's Private Equity Focus

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    The Federal Trade Commission's latest lawsuit against an anesthesia company and its private equity investor highlights the agency's willingness to regulate the health care industry even when relevant acquisitions are relatively dated or when the controlling entity's economic interest is under 50%, say attorneys at Simpson Thacher.

  • Top 4 Antitrust Enforcement Issues In Health Care Today

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    The Federal Trade Commission's recent lawsuit against U.S. Anesthesia Partners exemplifies antitrust enforcement authorities' efforts to aggressively reshape the health care industry, ranging from new proposed rules to withdrawals of previous guidance, say attorneys at Fried Frank.

  • Maximizing Law Firm Profitability In Uncertain Times

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    As threats of an economic downturn loom, firms can boost profits by embracing the power of bottom-line management and creating an ecosystem where strategic financial oversight and robust timekeeping practices meet evolved client relations, says Shireen Hilal at Maior Strategic Consulting.

  • OECD Gender Inclusive Toolkit May Inform Competition Policy

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    A toolkit recently released by the Organization for Economic Cooperation and Development offers a potential framework for guiding competition regulators and practitioners to better understand how market dynamics affect different gender groups, and could potentially be applied to other demographic lenses as well, say analysts at Analysis Group.

  • Alleged $636M Deal Error Highlights Ethics Considerations

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    Adelman v. Proskauer, a malpractice suit that allegedly arose from a cut-and-paste error resulting in potential damages of $636 million, presents an intriguing juxtaposition of facts and legal issues — and practical ethical considerations for transactions attorneys, says Richard Leisner at Trenam Law.

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