Mergers & Acquisitions

  • October 24, 2024

    Colo. Says Grocers' Execs Get Paid, No Matter The Fallout

    Colorado told a state judge Thursday that consumers bear the risk in a proposed $24.6 billion merger between Kroger Co. and Albertsons, arguing grocery executives will still get their multimillion-dollar payouts even if prices go up or stores close.

  • October 24, 2024

    FTC Official Doubts Election Will Deter Antitrust 'New Era'

    The Federal Trade Commission's Bureau of Competition director defended the agency's new guidelines and its track record during a wide-ranging discussion at the 34th annual Golden State Institute on Thursday, and he expressed confidence that whichever presidential candidate wins, a new administration won't deter this "new era" of FTC antitrust enforcement actions.

  • October 24, 2024

    Truth Social SPAC Founder Wants $1M Award For Payout Suit

    The investment sponsor of the special purpose acquisition company, or SPAC, that took former President Donald Trump's Truth Social media company public has asked for a $1 million fee award for driving the Delaware Chancery Court litigation over the Trump camp's attempts to slash a SPAC deal stock conversion ratio that would have cost some preferred investors millions.

  • October 24, 2024

    FTC Probing Boeing's $4.7B Spirit Aero Takeover

    The Federal Trade Commission wants to know more about Boeing's $4.7 billion plan to take over aircraft parts maker Spirit AeroSystems before it decides whether to sign off on the transaction, new filings have revealed.

  • October 24, 2024

    Cooper Hefner's $100M Bid To Buy Playboy Brand Is Rejected

    The owner of Playboy, PLBY Group Inc., has turned down a reported $100 million offer from Cooper Hefner, the youngest son of late founder Hugh Hefner, to buy the Playboy brand, stating Thursday that the bid is too low.

  • October 24, 2024

    DOJ, DOT Launch Inquiry Into Air Travel Competition

    The U.S. departments of Justice and Transportation said Thursday that they're launching a joint inquiry into the state of competition in air travel, the latest in a run of Biden administration competition- and consumer-driven initiatives.

  • October 24, 2024

    Chancery Won't Block Dura Medic Merger Insurance Claims

    Dura Medic, a private equity-controlled medical equipment supplier, and its directors and officers won their bid Thursday in Delaware's Court of Chancery to beat back, for now, a request for a temporary restraining order blocking a settlement that could put a $5 million directors and officers insurance policy beyond the reach of the previous owners' damage claims.

  • October 24, 2024

    Katten, Hogan Lovells Guide Tampa Bay Lightning Stake Sale

    The duo behind Blue Owl Capital on Thursday announced plans to buy a stake in NHL team the Tampa Bay Lightning in a deal strung together by Katten Muchin Rosenman LLP and Hogan Lovells.

  • October 24, 2024

    Willkie-Led Ingram Micro Rejoins Markets After $409M IPO

    Private equity-backed technology products distributor Ingram Micro Holding Corp. rallied in debut trading on Thursday, marking the company's return to public markets following a $409 million initial public offering, represented by Willkie Farr & Gallagher LLP and underwriters' counsel Cahill Gordon & Reindel LLP.

  • October 24, 2024

    Court Pauses $8.5B Handbag Merger For FTC Challenge

    A New York federal judge on Thursday paused the planned $8.5 billion merger between the owners of Michael Kors and Coach while the Federal Trade Commission challenges the deal over concerns about "accessible luxury" handbags.

  • October 24, 2024

    Southwest Shakes Up Boardroom In Deal With Activist Elliott

    Southwest Airlines on Thursday announced a board shake-up, marking the latest of the airline's moves as part of its "transformational" plan amid pressure from activist investor Elliott Investment Management.

  • October 24, 2024

    ConvergeOne Can't Ax Snubbed Creditors' Ch. 11 Plan Appeal

    A Texas federal judge said he wouldn't toss an appeal by a group of secured creditors who say they were improperly iced out of a new equity offering pool for ConvergeOne, writing that the group's challenge wouldn't unravel the reorganized information technology services company's confirmed Chapter 11 plan or harm third parties.

  • October 24, 2024

    Biden Issues Guidelines For National Security Uses Of AI

    President Joe Biden issued a memo Thursday on the development and use of artificial intelligence for national security, directing actions such as shoring up the security of computer chip supply chains and ensuring AI is not used to commit human rights violations.

  • October 24, 2024

    MVP: Sullivan & Cromwell's Melissa Sawyer

    Melissa Sawyer of Sullivan & Cromwell LLP's mergers and acquisitions practice led cancer therapy company Seagen through its $43 billion sale to Pfizer and facilitated the sale of privately held sandwich giant Subway to private equity firm Roark Capital, earning her a spot as one of the 2024 Law360 Mergers & Acquisitions MVPs.

  • October 24, 2024

    Cleary-Led Keurig Buying Ghost Energy For $1B-Plus

    Cleary Gottlieb-led Keurig Dr Pepper said Thursday it has agreed to purchase Winston & Strawn LLP-advised energy drink purveyor Ghost in a two-part transaction that will include the upfront purchase of a 60% stake in Ghost for $990 million, followed by the purchase of the remaining 40% stake in 2028. 

  • October 24, 2024

    Cigna, Frontier Renew Stalled Merger Bids, Plus Other Rumors

    Cigna Group and Frontier Airlines have both restarted once-stalled bids to acquire smaller rivals, rekindling merger rumors spanning the healthcare and airlines industries, while Sports Illustrated's secondary ticket platform wants to borrow up to $50 million to acquire competitor Anytickets. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • October 24, 2024

    Baker McKenzie Reps Acuity Brands On $1.2B QSC Buy

    Industrial technology company Acuity Brands Inc., advised by Baker McKenzie, on Thursday announced plans to buy Proskauer Rose LLP-led audio, video and control company QSC LLC in a $1.215 billion deal.

  • October 24, 2024

    TKO Paying $3.25B For Pro Bull Riding League, Other Assets

    ​​​​​Skadden is advising a special committee of TKO Group Holdings on a deal disclosed Thursday that will see the WWE and UFC parent company purchase a professional bull riding league and two other sports companies from Latham-led Endeavor Group in a $3.25 billion all-stock deal. 

  • October 24, 2024

    UK Probes Sonoco's $3.9B Bid For Eviosys

    The antitrust watchdog said Thursday that it is investigating U.S.-based Sonoco Products Co.'s proposed $3.9 billion acquisition of European food can-maker Eviosys from private equity shop KPS Capital Partners.

  • October 24, 2024

    UK Clears Acerinox's $800M Bid For Haynes International

    The U.K. antitrust watchdog said Thursday that it has waved through the planned $798 million takeover by stainless steel manufacturer Acerinox of Haynes International, which makes alloys, during the initial phase of its probe.

  • October 23, 2024

    Kroger Implies Wash. AG Opposes Merger To Aid Gov. Run

    The Kroger Co. on Wednesday slammed Washington state's lawsuit targeting its proposed $24.6 billion merger with Albertsons during closing arguments, telling the trial judge that it needlessly duplicates the Federal Trade Commission's antitrust case and suggesting that the state's attorney general was out to boost his campaign for governor.

  • October 23, 2024

    NY AG Probes Capital One's Planned $35B Discover Merger

    New York Attorney General Letitia James has joined federal regulators in investigating Capital One Financial Corp.'s proposed $35 billion acquisition of Discover Financial Services, according to a Wednesday subpoena petition alleging the deal might violate Empire State antitrust laws.

  • October 23, 2024

    Chancery Mulls Call To Toss $7B Focus Financial Merger Suit

    An attorney for private equity firm Stone Point Capital told Delaware's chancellor Wednesday that there was no control group formed before the $7 billion August 2023 go-private merger between Focus Financial Partners Inc. and Clayton Dubilier & Rice LLC, and that a ruling otherwise would "lower the bar" for control allegations.

  • October 23, 2024

    Del. Justices Urged To Revive Oracle-NetSuite Deal Challenge

    An attorney for Oracle Corp. stockholders rattled off a barrage of alleged disclosure failures, analytical flaws and errant deference decisions Wednesday during a Delaware Supreme Court appeal from the Chancery Court's toss last year of a challenge to the company's $9.3 billion acquisition of NetSuite Corp. in 2016.

  • October 23, 2024

    Judge Says Ex-Steward Hospital Nurse Row Out Of His Hands

    A Texas bankruptcy judge Wednesday declined to order the new owner of former Steward Health Care hospitals in Massachusetts to take back changes to nurses' union contracts it assumed under his sale order, saying it wasn't up to him to make the call.

Expert Analysis

  • Boeing Saga Underscores Need For Ethical Corporate Culture

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    In the wake of recent allegations about Boeing’s safety culture, and amid the U.S. Department of Justice’s new whistleblower incentives, business leaders should reinvigorate their emphasis on compliance by making clear that long-term profitability requires ethical business practices, says Maxwell Carr-Howard at Dentons.

  • Series

    Fishing Makes Me A Better Lawyer

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    Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge​​​​​​​ at Robinson Bradshaw.

  • Parsing Controversial Del. General Corporation Law Proposals

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    In response to issues raised in three recent high-profile Delaware Court of Chancery decisions, many amendments to the Delaware General Corporation Law were quickly proposed that, if enacted, would bring significant changes likely to be hotly debated — and litigated — for the foreseeable future, say attorneys at Morgan Lewis.

  • A Healthier Legal Industry Starts With Emotional Intelligence

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    The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.

  • To Make Your Legal Writing Clear, Emulate A Master Chef

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    To deliver clear and effective written advocacy, lawyers should follow the model of a fine dining chef — seasoning a foundation of pure facts with punchy descriptors, spicing it up with analogies, refining the recipe and trimming the fat — thus catering to a sophisticated audience of decision-makers, says Reuben Guttman at Guttman Buschner.

  • Circuit Judge Writes An Opinion, AI Helps: What Now?

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    Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.

  • A Look At M&A Conditions After FTC's Exxon-Pioneer Nod

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    The Federal Trade Commission's recent consent decree imposing several conditions on Exxon Mobil's acquisition of Pioneer Natural Resources helps illustrate key points about the current merger enforcement environment, including the probability of further investigations in the energy and pharmaceutical sectors, say Ryan Quillian and John Kendrick at Covington.

  • FTC Theories Of Harm After Anesthesia Co. Ruling

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    As Federal Trade Commission litigation against U.S. Anesthesia Partners proceeds following a Texas federal court's recent decision to dismiss a private equity sponsor from the suit, the case attempts to incorporate and advance some of the commission's theories of competitive harm from the final 2023 Merger Guidelines, say attorneys at Mintz.

  • BF Borgers Clients Should Review Compliance, Liability

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    After the U.S. Securities and Exchange Commission's recently announced enforcement proceedings against audit firm BF Borgers for fabricating audit documentation for hundreds of public companies, those companies will need to follow special procedures for disclosure and reporting — and may need to prepare for litigation from the plaintiffs bar, say attorneys at Debevoise.

  • Perspectives

    Trauma-Informed Legal Approaches For Pro Bono Attorneys

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    As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.

  • What Updated PLR Procedure May Mean For Stock Spin-Offs

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    A recently published Internal Revenue Service revenue procedure departs from commonly understood interpretations of the spinoff rules by imposing more stringent standards on companies seeking private letter rulings regarding tax-free stock spinoff and split-off transactions, and may presage regulatory changes that would have the force of law, say attorneys at Skadden.

  • Series

    Playing Music Makes Me A Better Lawyer

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    My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.

  • What's New In Kentucky's Financial Services Overhaul

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    Kentucky's H.B. 726 will go into effect in July and brings with it some significant restructuring to the Kentucky Financial Services Code, including changes to mortgage loan license fees and repeals of provisions relating to installment term loans and savings associations, say attorneys at Frost Brown.

  • How Attys Can Avoid Pitfalls When Withdrawing From A Case

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    The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.

  • Using A Children's Book Approach In Firm Marketing Content

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    From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.

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