Mergers & Acquisitions

  • January 15, 2025

    Slaughter And May-Led Fortress Ups Loungers Bid To £366.6M

    U.S. investment firm Fortress Investment Group LLC said Wednesday that it has increased its cash bid for Loungers PLC to £366.6 million ($451 million) in a bid to persuade the shareholders of the British hospitality chain to accept the offer.

  • January 15, 2025

    Clifford Chance, Wachtell Help Pfizer To Cut Haleon Stake

    Pharmaceutical titan Pfizer has reduced its stake in Haleon PLC, the British healthcare giant, to 7.3% by selling shares worth £2.5 billion ($3 billion), a bookrunner for the sale said Wednesday.

  • January 14, 2025

    Latham Grabs Top Spot For 2024 IPOs By Large Margin

    Latham & Watkins LLP guided more initial public offerings than any law firm in 2024, capturing a diverse mix of large listings for companies that seized opportunities to go public as the broader IPO market inched toward recovery, new data shows.

  • January 14, 2025

    Chancery Hits Co. With $2.9M Atty Fee Bill As Sanction

    A California medical device molding company that sought millions from a merger partner for breaches of contract in Delaware's Court of Chancery came away Tuesday with awards of $104,000 for its claims and $2.9 million in attorney fees as a sanction for contempt and spoliation by Symbient Product Development LLC founder Scott Castanon.

  • January 14, 2025

    Frank Exec Wants Fraudster Comparisons Blocked At Trial

    The founder of student financial aid startup Frank has asked a Manhattan federal judge to block prosecutors from comparing her to well-known convicted fraudsters at her upcoming trial on charges that she tricked JPMorgan Chase & Co. into buying her company for $175 million.

  • January 14, 2025

    Fuse Says Skydance Deal Poses Harms To Ad-Based Streaming

    Fuse Media has told the Federal Communications Commission that the planned $8.4 billion merger of Skydance Media with Paramount Global would harm some of their market competitors, including free advertising-based streaming.

  • January 14, 2025

    DXC Says Investor Suit Shows Integration Problems, Not Fraud

    DXC Technology has asked a Virginia federal court to toss a shareholder suit alleging the information technology giant overhyped efforts to reduce restructuring and integration costs after acquiring several companies, arguing hindsight critiques from the current CEO do not establish securities fraud.

  • January 14, 2025

    TripAdvisor, Class Flip Nevada Move Positions In Del. Appeal

    Attorneys for the boards and controller of TripAdvisor and Liberty TripAdvisor have asked Delaware's Supreme Court to keep alive their appeal from a lower court's refusal to toss a suit challenging their reincorporation in Nevada, despite a call for dismissal by class attorneys who had previously opposed both the deal and appeal.

  • January 14, 2025

    Leaked Deals Achieved Higher Premiums But Little Else

    Leaked mergers and acquisitions have historically achieved higher deal premiums than their non-leaked counterparts, but the leaking of deals has had little impact on attracting bidders and deal completion rates, according to a Tuesday report from software company SS&C Intralinks. 

  • January 14, 2025

    Simpson Thacher, Sullivan Rep CBRE's $400M Coworking Buy

    CBRE Group Inc. announced on Tuesday it will purchase coworking company Industrious National Management Company LLC for $400 million in a deal guided by Simpson Thacher & Bartlett LLP and Sullivan & Cromwell LLP.

  • January 14, 2025

    Macquarie, Data Center Biz Enter $5B Financing Partnership

    Digital infrastructure and data center company Applied Digital Corp., advised by Lowenstein Sandler LLP, on Tuesday announced it has entered into a $5 billion financing facility with funds managed by Simpson Thacher & Bartlett LLP-led Macquarie Asset Management for its high-performance computing business.

  • January 14, 2025

    Jones Day-Led Wabtec Paying $1.8B For Evident Tech Unit

    Jones Day-led freight and rail equipment provider Wabtec Corp. said Tuesday it has agreed to acquire Ropes & Gray LLP-advised Evident's inspection technologies division for $1.78 billion.   

  • January 14, 2025

    Apollo, Standard Chartered Form $3B Strategic Partnership

    Private equity giant Apollo and international banking group Standard Chartered PLC on Tuesday announced that they have formed a long-term strategic partnership under which the two will contribute up to a combined $3 billion to go towards clean energy and transition financing.

  • January 14, 2025

    DOJ Accuses PE Giant KKR Of Dropping Merger Disclosures

    The Justice Department filed an extraordinary lawsuit Tuesday accusing private equity giant KKR & Co. Inc. of repeatedly flouting its merger notification requirements, "altering" or "systematically omitting" documents on some deals and failing entirely to notify enforcers of at least two, including a $6.9 billion transaction, only for KKR to file its own suit in response.

  • January 14, 2025

    H&E Rentals' Stock Doubles On $4.8B United Rentals Deal

    United Rentals Inc. has agreed to purchase fellow equipment rental company H&E Rentals for about $4.8 billion, including approximately $1.4 billion of debt, the companies said Tuesday, with the news leading to a more than 100% increase in H&E's stock price. 

  • January 13, 2025

    Insurer Drops Dispute Over Private Equity Firm's Deals

    An excess insurer agreed Monday to drop its Massachusetts federal suit seeking to avoid coverage of two settlements made by its insured, the private equity firm Advent International, over supposed wrongful acts the company committed related to the sale of two portfolio companies to two different buyers.

  • January 13, 2025

    Ex-Acacia Research CIO Gave Relative Insider Info, SEC Says

    Acacia Research Corp.'s former president was charged with insider trading in New York federal court for allegedly tipping off his sister-in-law with confidential information that helped her illegally net more than $428,000 in profitable trades involving two companies, securities regulators announced Monday.

  • January 13, 2025

    T-Mobile, UScellular Say Tie-Up Will 'Greatly' Amp Up Service

    T-Mobile and UScellular defended their $4.4 billion deal to combine wireless operations, telling the Federal Communications Commission that expanding the T-Mobile footprint will improve consumers' experiences around the country.

  • January 13, 2025

    Truth Social SPAC Ex-CEO Seeks Del. Suit Toss Or Freeze

    The former manager of the blank check company that sponsored a deal to take now President-elect Donald Trump's social media platform public heads into a pivotal Delaware Court of Chancery hearing Wednesday, seeking to freeze or scuttle a suit claiming that he and others secretly diverted millions of shares from co-investors.

  • January 13, 2025

    Chamber Challenges FTC And DOJ Merger Filings Overhaul

    The U.S. Chamber of Commerce and other business groups have filed a legal challenge contesting the looming overhaul to merger filing notification requirements that the Federal Trade Commission and Justice Department say will fill information gaps, but that the Texas federal lawsuit contends is overly burdensome and unjustified.

  • January 13, 2025

    5 Firms Steer Up-To-$750M Sale Of Life Molecular Imaging

    Radiopharmaceutical-focused company Lantheus Holdings Inc. announced plans Monday to buy Life Molecular Imaging Ltd. for up to $750 million in a deal built by five law firms.

  • January 13, 2025

    T-Mobile To Pay Roughly $600M For Ad Tech Co. Vistar Media

    T-Mobile on Monday agreed to acquire advertising technology company Vistar Media, in an all-cash deal totaling around $600 million that was guided by Cleary Gottlieb and Lowenstein Sandler, respectively.

  • January 13, 2025

    Sidley Lands M&A Pros From Jones Day, Simpson Thacher

    Sidley Austin LLP is expanding its mergers and acquisitions team, announcing Monday it has brought on a Jones Day M&A expert and a Simpson Thacher & Bartlett LLP pro as partners in its New York office.

  • January 13, 2025

    Lilly To Buy Scorpion Cancer Program For Up To $2.5B

    Ropes & Gray LLP-led Eli Lilly and Co. said Monday it has agreed to purchase a precision breast cancer program of biotechnology company Scorpion Therapeutics Inc. for up to $2.5 billion. 

  • January 13, 2025

    76ers Drop Controversial Plan For New Center City Arena

    The Philadelphia 76ers are going to stay in South Philly rather than pursuing a plan to move into a new stadium by Chinatown, according to announcements Monday from the City of Brotherly Love's mayor and the 76ers' owner.

Expert Analysis

  • To Report Or Not To Report Others' Export Control Violations

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    A recent Bureau of Industry and Security enforcement policy change grants cooperation credit to those that report violations of the Export Administration Regulations committed by others, but the benefits of doing so must be weighed against significant drawbacks, including the costs of preparing and submitting a report, says Megan Lew at Cravath.

  • With Esmark Case, SEC Returns Focus To Tender Offer Rules

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    The U.S. Securities and Exchange Commission's recent enforcement action against Esmark in connection with its failed bid to acquire U.S. Steel indicates the SEC's renewed attention under Rule 14e‑8 of the Exchange Act on offerors' financial resources as a measure of the veracity of their tender offer communications, say attorneys at MoFo.

  • HSR Amendments Intensify Merger Filing Burdens, Data Risk

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    The antitrust agencies' long-awaited changes to premerger notification rules under the Hart-Scott-Rodino Act stand to significantly increase the time and cost involved in preparing an initial HSR notification, and will require more proactive attention to data issues, says Andrew Szwez at FTI Technology.

  • What's Inside Feds' Latest Bank Merger Review Proposals

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    Recent bank merger proposals from a trio of federal agencies highlight the need for banks looking to grow through acquisition to consider several key issues much earlier in the planning process than has historically been necessary, say attorneys at Simpson Thacher.

  • State Of The States' AI Legal Ethics Landscape

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    Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.

  • How Biden Admin Has Used Antitrust Tools, And What's Next

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    The last four years have been marked by an aggressive whole-of-government approach to antitrust enforcement using a broad range of tools, and may result in lasting change regardless of the upcoming presidential election result, say attorneys at Norton Rose.

  • How BIS' Rule Seeks To Encourage More Voluntary Disclosure

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    Updated incentives, penalties and enforcement resources in the Bureau of Industry and Security's recently published final rule revising the Export Administration Regulations should help companies decide how to implement export control compliance programs and whether to disclose possible violations, say attorneys at Freshfields.

  • 8 Childhood Lessons That Can Help You Be A Better Attorney

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    A new school year is underway, marking a fitting time for attorneys to reflect on some fundamental life lessons from early childhood that offer a framework for problems that no legal textbook can solve, say Chris Gismondi and Chris Campbell at DLA Piper.

  • Harris Unlikely To Shelve Biden Admin's Food Antitrust Stance

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    A look at Vice President Kamala Harris' past record, including her actions as California attorney general, shows why practitioners should prepare for continued aggressive antitrust enforcement, particularly in the food and grocery industries, if Harris wins the presidential election, says Steve Vieux at Bartko.

  • Opinion

    This Election, We Need To Talk About Court Process

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    In recent decades, the U.S. Supreme Court has markedly transformed judicial processes — from summary judgment standards to notice pleadings — which has, in turn, affected individuals’ substantive rights, and we need to consider how the upcoming presidential election may continue this pattern, says Reuben Guttman at Guttman Buschner.

  • Series

    Playing Diplomacy Makes Us Better Lawyers

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    Similar to the practice of law, the rules of Diplomacy — a strategic board game set in pre-World War I Europe — are neither concise nor without ambiguity, and weekly gameplay with our colleagues has revealed the game's practical applications to our work as attorneys, say Jason Osborn and Ben Bevilacqua at Winston & Strawn.

  • Mental Health First Aid: A Brief Primer For Attorneys

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    Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.

  • John Deere Penalty Shows Importance Of M&A Due Diligence

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    The U.S. Securities and Exchange Commission's recent $10 million penalty against John Deere underscores the risks of not conducting robust preacquisition due diligence and not effectively integrating a new subsidiary into the existing compliance framework, say attorneys at Ropes & Gray.

  • 8 Issues AI Firms May Encounter As M&A Action Accelerates

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    As the AI merger climate heats up, potential complications may arise, including antitrust scrutiny, talent retention agreements, and aggressive and protective deal terms intended to compensate for lofty valuations, say Scott Schwartz and Kishan Barot at Manatt.

  • Series

    Collecting Art Makes Me A Better Lawyer

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    The therapeutic aspects of appreciating and collecting art improve my legal practice by enhancing my observation skills, empathy, creativity and cultural awareness, says attorney Michael McCready.

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