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Mergers & Acquisitions
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January 10, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen legal services group RBG Holdings face a winding-up petition from founder Ian Rosenblatt amid soured talks about the group's leadership, J.P. Morgan file a fresh claim against WeRealize, retailer Asda face an intellectual property claim over a specific type of mandarin and financier Nathaniel Rothschild sue German entrepreneur Lars Windhorst and his investment vehicle Tennor International. Here, Law360 looks at these and other new claims in the U.K.
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January 10, 2025
EU Greenlights $35B Synopsys-Ansys Deal With Remedies
The European Commission said Friday it has conditionally approved Synopsys Inc.'s proposed $35 billion acquisition of Ansys Inc. after the companies agreed to certain divestitures, as the megadeal continues to make regulatory progress across jurisdictions.
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January 10, 2025
Taxation With Representation: Kirkland, Davis Polk, Wachtell
In this week's Taxation With Representation, Constellation acquires Calpine, Cintas seeks a deal with UniFirst Corp., Stryker Corp. acquires Inari Medical Inc., and Paychex Inc. buys Paycor.
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January 10, 2025
Justices Seem Inclined To Uphold TikTok Sale-Or-Ban Law
The U.S. Supreme Court seemed likely Friday to uphold a law requiring TikTok to divest from its Chinese parent company over national security concerns or face a nationwide ban, despite some justices expressing concern over the law's impact on the free speech rights of Americans who use the wildly popular social media platform.
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January 10, 2025
ESPN, Fox, Warner Bros. Abruptly Scrap Sports Streaming JV
ESPN, Fox and Warner Bros. Discovery called off their Venu joint live sports streaming venture Friday, just days after ESPN parent company The Walt Disney Co. used the acquisition of a majority stake in streaming startup FuboTV Inc. to nix Fubo's challenge to Venu on the courthouse steps.
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January 10, 2025
BCLP's Global Healthcare Chair Jumps To Dechert
Dechert LLP has brought on the former global chair of healthcare and life sciences at Bryan Cave Leighton Paisner LLP as a corporate and securities partner and leader of its healthcare regulatory practice.
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January 10, 2025
Travers Smith-Led DBAY Bids £350M For Alliance Pharma
Asset manager DBAY Advisors said Friday that it and a European private equity fund have agreed to acquire British consumer healthcare company Alliance Pharma for approximately £350 million ($428 million) in a deal guided by Slaughter and May and Travers Smith LLP.
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January 10, 2025
DOJ Sues To Block Amex GBT's $570M Deal For Rival CWT
The U.S. Department of Justice filed a lawsuit Friday seeking to block American Express Global Business Travel Inc.'s planned $570 million acquisition of corporate travel management rival CWT Holdings LLC.
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January 10, 2025
Constellation Energy Buying Calpine In $26.6B Megadeal
Constellation has agreed to acquire Calpine at a net purchase price of $26.6 billion, in a deal that will merge two of the largest power generation companies in the U.S., the companies announced Friday.
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January 09, 2025
Skadden Opens Abu Dhabi Office With Freshfields Hire
Skadden Arps Slate Meagher & Flom LLP announced Thursday that its first Middle East office has opened in Abu Dhabi, United Arab Emirates, spearheaded by a new corporate transactional partner who previously led the region for Freshfields Bruckhaus Deringer LLP.
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January 09, 2025
Activision Brands $75B Del. Merger Suit 'Scattershot'
An attorney for former Activision-Blizzard directors and top officers told Delaware's chancellor on Thursday that stockholder attorneys are pursuing a massive but "scattershot" suit challenging the company's $75.4 billion merger with Microsoft Corp., a deal that produced both a disputed $31 billion premium and a 329-page third amended lawsuit.
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January 09, 2025
Lutnick, Cantor Seek Toss Of BGC Reorganization Suit In Del.
An attorney for billionaire Howard Lutnick and Cantor Fitzgerald told a Delaware vice chancellor on Thursday that former BGC Partners LP stockholders who sued over allegedly unfair terms in its conversion into a public company raised derivative claims that instead belong to the converted company.
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January 09, 2025
Kroger Drops FTC Constitutionality Fight After Nixed Merger
Kroger on Thursday voluntarily dismissed its case challenging the constitutionality of the Federal Trade Commission's in-house court, after the agency dropped its administrative case targeting the grocery chain's abandoned deal for Albertsons.
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January 09, 2025
Grocers Say Nothing Left To Fight In Colo. Merger Challenge
Kroger and Albertsons told a Denver District Court that the state's challenge to its merger should be dismissed now that the deal is dead, arguing in a motion that the state always knew that decisions in other lawsuits could render its claim moot.
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January 09, 2025
DirecTV, Dish Say Sports Streamer Harmful Despite Fubo Deal
DirecTV and Dish are hoping to pump the brakes on any immediate plans to unwind a New York federal court's injunction stopping the ESPN, Fox and Warner Bros. Discovery joint sports venture from hitting the market after Disney announced its majority acquisition of the deal's biggest challenger, Fubo, this week.
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January 09, 2025
AI Startup Anthropic Seeks $60B Valuation, Plus More Rumors
Artificial-intelligence startup Anthropic is seeking $2 billion in a new funding round that would value the company at $60 billion, while fashion giant Shein is now eyeing a mid-2025 initial public offering in London and Constellation Energy is lining up a $30 billion bid to acquire electricity provider Calpine. Here, Law360 breaks down the notable deal rumors from the past week.
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January 09, 2025
5 Questions Attys Have About Supreme Court's TikTok Case
The U.S. Supreme Court will hear arguments Friday in TikTok's challenge to a law requiring the wildly popular social media platform to be divested from its Chinese parent company over national security concerns or face a nationwide ban, in an unusual First Amendment case attorneys say also raises broad procedural and legal questions.
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January 09, 2025
US Steel And Nippon's Lawsuit Seen As 'Hail Mary' Attempt
President Joe Biden may not have put forth an airtight national security argument for blocking Nippon Steel's planned acquisition of U.S. Steel, but the companies' subsequent lawsuit is still highly unlikely to earn them another chance at making the deal happen, according to legal experts.
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January 09, 2025
Yale Wins Info Battle In $435M Hospital Sale Contract Fight
Three Connecticut property owners must hand over internal analyses and communications to Yale New Haven Health Services Corp. as it seeks evidence in support of its bid to back out of a $435 million deal to purchase hospitals from Prospect Medical Holdings Inc., a state court judge ruled.
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January 09, 2025
Musk Could Dodge Some Claims In X Severance Suit
Six former Twitter employees who alleged they weren't paid severance benefits after Elon Musk took over the company shouldn't be able to proceed with their claims under Texas law, a Delaware federal magistrate judge said, but he recommended that claims under California and New York law be given a second chance.
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January 09, 2025
Reed Smith Steers Bauer On $625M Clear Channel Buy
Clear Channel Outdoor Holdings Inc. has agreed to sell its Clear Channel Europe-North business to the U.K.'s Bauer Media Group for $625 million in cash, the companies said Thursday.
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January 09, 2025
Kirkland Leads Project Liberty's Bid For TikTok As Ban Looms
Kirkland & Ellis-advised Project Liberty announced Thursday that it has offered to acquire TikTok's U.S. assets, just 10 days before the deadline for the social media platform to divest from its Chinese parent or face a nationwide ban.
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January 09, 2025
Moore & Van Allen Nabs Baker McKenzie Finance Pro
Moore & Van Allen PLLC announced that longtime financial services counselor Mark Tibberts has joined its Charlotte, North Carolina, office as a partner, bringing with him knowledge on energy and infrastructure projects that will bolster the firm's offerings to its clients.
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January 08, 2025
Group Alleges $10M 'Sham' In Fla. Plant-Based Co. Stock Deal
A Canadian investment group has sued two Delaware corporations in Florida federal court over a "sham" stock deal, alleging it was fraudulently induced to sell its plant-based food technology company and later cheated out of $10 million worth of cash and common stock it was promised.
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January 08, 2025
Colo. Judge Certifies National Class Of Senior Care Investors
A Colorado federal judge on Wednesday certified a nationwide class of stockholders in a securities suit alleging a senior health care company made misleading statements in an initial public offering that later caused stock prices to tank after a government audit exposed the falsehoods.
Expert Analysis
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FTC Focus: What Access To Patent Settlements Would Mean
Settling parties should adopt a series of practice tips, including specifying rationales to support specific terms, as the Federal Trade Commission seeks to expand its access to settlements before the Patent Trial and Appeal Board, say Shannon McGowan and David Munkittrick at Proskauer.
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Why Attorneys Should Consider Community Leadership Roles
Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.
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9 Liability Management Tips As Debt Maturity Cliff Looms
As the debt maturity cliff swiftly approaches in this challenging environment, attorneys at Winston & Strawn highlight the top considerations for boards of directors and finance professionals to think about when structuring and executing liability management transactions, including reviewing capital structure, evaluating debt covenants, and more.
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Firms Must Offer A Trifecta Of Services In Post-Chevron World
After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.
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5 Tips To Succeed In A Master Of Laws Program And Beyond
As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.
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Series
Being An Opera Singer Made Me A Better Lawyer
My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.
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How Law Firms Can Avoid 'Collaboration Drag'
Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.
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Opinion
Litigation Funding Disclosure Key To Open, Impartial Process
Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.
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The Licensure Landscape For Psychedelics Manufacturers
As the need for bulk manufacturing of psychedelic substances grows, organizations aiming to support clinical trials or become commercial suppliers must navigate a rigorous and multifaceted journey to obtaining a license from the U.S. Drug Enforcement Administration, say Kimberly Chew at Husch Blackwell and Jaime Dwight at Promega Corp.
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What NFL Draft Picks Have In Common With Lateral Law Hires
Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.
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Foreign Threat Actors Pose Novel Risks To US Tech Cos.
A recent bulletin jointly issued by several U.S. intelligence agencies warns technology startups and the venture capital community about national security risks posed by foreign threat actors, so companies interested in raising foreign capital should watch for several red flags, say Robert Friedman and Jacob Marco at Holland & Knight.
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Replacing The Stigma Of Menopause With Law Firm Support
A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.
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Planning Law Firm Content Calendars: What, When, Where
During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.
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4 Steps To Address New Sanctions Time Bar Extension
Recent guidance from the Office of Foreign Assets Control clarifies details of the newly extended statute of limitations for civil and criminal enforcement of U.S. sanctions law, so compliance teams should implement key updates, including to lookback periods and recordkeeping policies, say attorneys at Freshfields.
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Series
Playing Golf Makes Me A Better Lawyer
Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.