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Mergers & Acquisitions
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December 20, 2024
Watershed NCAA, UFC Settlements Highlight 2024's 2nd Half
The second half of 2024 saw the sunset of several yearslong lawsuits that will significantly impact the world of sports, including the settlement of the NCAA's name, image and likeness antitrust litigation and the closing of the UFC's legal battle with current and former fighters. Here, Law360 explores the top sports and betting moments from the second half of 2024.
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December 19, 2024
Foley Adds Tech, Life Sciences Partner From IP Boutique
Foley & Lardner LLP has hired a longtime partner from intellectual property boutique Lerner David LLP to strengthen both the transactional and litigation arms of its technology and life science practices in New York.
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December 19, 2024
Ropes-Led Bain Capital Trims Stake In Kioxia After $800M IPO
Bain Capital LP trimmed its majority stake in Japanese chipmaker Kioxia Holdings Corp. following the company's $800 million initial public offering, according to a statement Thursday by Ropes & Gray LLP, which represented the private equity giant in the transaction.
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December 19, 2024
Medical Supplies Giant, Drone Operator File Confidential IPOs
Private equity-backed medical supplies giant Medline Inc. and drone operator Airo Group Holdings Inc. said Thursday that they confidentially filed plans for initial public offerings with regulators, joining a growing pipeline of IPO prospects for 2025.
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December 19, 2024
Arm-Qualcomm Trademark, Breach Suit Goes To Jury In Del.
Jurors headed to deliberations late Thursday after nearly four days of trial in Delaware federal court on Softbank Group subsidiary Arm Ltd.'s claims that Qualcomm Inc. and Nuvia Inc. breached a protective contract for microprocessor core technology licensing agreements.
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December 19, 2024
DuPont, Corteva Liable For Bad Benefits Info, Judge Says
Chemical companies DuPont and Corteva Inc. violated federal benefits law when they cut hundreds of workers off from retirement benefits following a merger and subsequent spinoff, a Pennsylvania federal judge ruled, finding the companies didn't clearly explain how the transactions would impact employees' benefits.
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December 19, 2024
Fed, OCC 'Asleep At Wheel' On Merger Policy, Warren Says
Sen. Elizabeth Warren on Wednesday accused top federal bank regulators of blowing off calls for tougher merger scrutiny and leaving the financial system exposed to dangerous megadeals, blasting them as "asleep at the wheel" as the Capital One-Discover merger inched closer to approval.
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December 19, 2024
CMA Issues Guidance For New Digital Competition Rules
Britain's Competition and Markets Authority released guidance Thursday laying out how the agency intends to use its new powers to impose rules and obligations on large technology companies, ahead of the regime's launch next year.
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December 19, 2024
EU Opens In-Depth Probe Of Liberty's $3.6B MotoGP Deal
European antitrust regulators are investigating Liberty Media's proposed acquisition of Dorna Sports, citing concerns that the €3.5 billion deal could harm competition in motorsports broadcasting and drive up licensing costs.
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December 19, 2024
Cannabis Co. Proper Brands Purchased As Part Of $397M Deal
Missouri cannabis operator Proper Brands, advised by Cassels Brock & Blackwell LLP, on Thursday announced plans to merge with medical cannabis company Vireo Growth Inc., advised by Dorsey & Whitney LLP, as part of a series of all-stock transactions totaling $397 million.
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December 19, 2024
Honda, Nissan Mulling Merger, And Other Deal Rumors
Japanese automakers Honda and Nissan are discussing a potential merger as they look to compete with the likes of Tesla and Chinese automakers, according to a Wednesday report by Nikkei. A subsequent report in The Wall Street Journal laid out some eye-catching stats about China's growth in the industry, which it said has left automakers elsewhere across the globe scrambling to compete.
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December 19, 2024
Morrison Foerster, Freshfields Guide $1.8B Packaging Deal
Toppan Holdings Inc. confirmed Thursday it has agreed to purchase Sonoco Products Co.'s thermoformed and flexible packaging, or TFP, unit for about $1.8 billion, with Morrison Foerster LLP advising the buyer and Freshfields LLP representing the seller.
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December 19, 2024
Sony Ups Stake In Japanese Video Game Maker's Parent Co.
Sony Group Corp. said Thursday it has agreed to up its stake in Kadokawa Corp. to 10% through the purchase of more than 12 million shares for approximately 50 billion yen ($317.8 million), sending Kadokawa's stock skyrocketing more than 24%.
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December 19, 2024
X Workers Say Entire Severance Suit Should Survive
Former X employees urged a Delaware federal court to set aside portions of a magistrate judge's recommendation that the court partially toss their unpaid severance benefits lawsuit, saying the judge incorrectly found that a merger agreement stripped them of standing.
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December 19, 2024
Tencent Removes 2 Epic Directors Following DOJ Scrutiny
Two Epic Games directors appointed by Tencent Holdings are stepping down from Epic's board after the U.S. Department of Justice said their positions could constitute antitrust law violations, the agency has announced.
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December 19, 2024
US Billionaire Finalizes Deal For Everton Football Club
The company controlled by U.S. billionaire businessman Dan Friedkin, advised by Proskauer Rose, has completed its purchase of Everton Football Club, concluding a drawn-out process that included a previous deal that fell through after the buyer faced legal troubles.
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December 19, 2024
3 Firms Guide Cloud Tech Biz On $1.4B Buy Of IT Consultancy
Swiss cloud technology company SoftwareOne Holding AG and Norway's Crayon Group said Thursday that they have agreed to merge in a $1.4 billion deal that will create a leading reseller of software and cloud products.
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December 18, 2024
Ex-US Rep. Urges 2nd Circ. To Nix Insider Trading Conviction
Former Indiana Rep. Stephen Buyer on Wednesday urged the Second Circuit to reverse his insider trading conviction or grant him a new trial, saying federal prosecutors violated his Sixth Amendment rights and failed to prove Manhattan was the right place to be tried, which led a pair of circuit judges to voice doubt about the court's standard for establishing venue.
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December 18, 2024
Morrison Foerster Cites Tariffs As Key M&A Variable For 2025
International law firm Morrison Foerster LLP is among those citing President-elect Donald Trump's tariff plans as a key wild card that could affect mergers and acquisitions deal flow in 2025, a Wednesday report from the firm shows.
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December 18, 2024
EY Accused Of Aiding Energy Firm's SPAC Fraud
Big Four accounting firm EY faces a suit alleging that its "unqualified" audit opinions for a United Arab Emirates-based oil storage leasing company enabled the company to defraud investors in its $1 billion 2019 merger with a special purpose acquisition company.
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December 18, 2024
Judge Wants To Know If Colo. Kroger Merger Fight Is Moot
A Colorado state judge wants to know whether two recent decisions blocking the proposed $24.6 billion merger of The Kroger Co. and Albertsons Cos. Inc. has mooted Attorney General Phillip J. Weiser's challenge to the transaction, according to a briefing plan approved Tuesday.
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December 18, 2024
FCC Asked To Place Conditions On Skydance-Paramount Deal
Paramount Global's $2.4 billion plan to merge with Skydance Media has gained another critic, a right-leaning nonprofit law firm that wants the Federal Communications Commission to refuse to approve the tie-up without placing conditions on Paramount's CBS.
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December 18, 2024
Bain Seeks Controlling Stake Despite Fuji Soft Rejection
Bain Capital is seeking to execute a tender offer for a controlling stake in Fuji Soft despite the Japanese company's decision to proceed with an alternative buyout offer from KKR, stating in a Wednesday presentation that it has "significant concerns" about a Fuji Soft special committee's independence.
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December 18, 2024
Insurance Co. Buyer Accuses Seller Of Fraud In Chancery Suit
Alleging a "textbook case of fraud in the inducement and breach of fiduciary duty," a holding company that acquired Georgia-based Southern Trust Insurance Co. has sued the seller's principals, associates and their company in Delaware's Court of Chancery.
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December 18, 2024
Energy Co. Orsted Sells 50% Solar Farm Stake In $572M Deal
Danish multinational energy company Orsted, advised by Sidley Austin LLP, on Wednesday announced plans to sell a 50% equity stake in three U.S. onshore projects to energy transition-focused investor Energy Capital Partners in a $572 million deal.
Expert Analysis
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Series
Being A Navy Reservist Makes Me A Better Lawyer
Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.
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How To Prepare For Expanded HSR Notification Process
Following the recent publication of the Federal Trade Commission's final rule enhancing premerger reporting requirements under the Hart-Scott-Rodino Act, filing parties can take key steps to comply by the new Feb. 10 effective date, say attorneys at Squire Patton.
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Cos. Should Inventory Issues To Prep For New Congress
As the legislative and oversight agendas of the 119th Congress come into sharper focus, corporate counsel should assess and plan for areas of potential oversight risk — from tax policy changes to supply chain integrity — even as much uncertainty remains, say attorneys at WilmerHale.
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So You Want To Move Your Law Practice To Canada, Eh?
Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.
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Opinion
Efficiency Dept. Should Consolidate Antitrust Enforcement
President-elect Donald Trump's planned Department of Government Efficiency should transfer the authority of the Federal Trade Commission's Bureau of Competition into the U.S. Department of Justice's Antitrust Division, because there is no justification for two federal entities to enforce antitrust and competition laws, says retired judge Susan Braden.
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Trump's 2nd Term May Be A Boost To Banking Industry
President-elect Donald Trump's personnel appointments could be instrumental in reshaping the financial regulatory landscape during his second administration, likely allowing for greater merger activity and halting or undoing some of the Biden administration's more restrictive financial services policies, say attorneys at Debevoise.
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Predicting Shareholder Activism Trends In New Trump Admin
While President-elect Donald Trump has promised tax policies, deregulation and lax antitrust enforcement — which all fuel shareholder activism — a closer look at his first administration's track record suggests that his second presidency might be a mixed bag for activist investors and companies alike, say attorneys at Sidley.
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Destination Skiing And The DOJ's Mountain Merger Challenge
Attorneys at Robins Kaplan consider what the U.S. Department of Justice's second request for information portends for Alterra's acquisition of Colorado's Arapahoe Basin ski area, exploring the potential consequences for market definition, industry consolidation and the transformation of the lift ticket market.
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Promoting Diversity In The Selection Of ADR Neutrals
Excerpt from Practical Guidance
Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.
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Series
Playing Ultimate Makes Us Better Lawyers
In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron.
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Dissecting New Circuit Split Over SEC's Proxy Adviser Rule
The Sixth Circuit recently upheld the U.S. Securities and Exchange Commission's partial rescission of enhanced conflict-of-interest disclosure requirements for proxy voting advice businesses, creating a circuit split over broader questions concerning the standard for assessing the legality of agency actions in general, say attorneys at Cahill Gordon.
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E-Discovery Quarterly: Recent Rulings On Metadata
Several recent rulings reflect the competing considerations that arise when parties dispute the form of production for electronically stored information, underscoring that counsel must carefully consider how to produce and request reasonably usable data, say attorneys at Sidley.
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Striking A Balance Between AI Use And Attorney Well-Being
As the legal industry increasingly adopts generative artificial intelligence tools to boost efficiency, leaders must note the hidden costs of increased productivity, and work to protect attorneys’ well-being while unlocking AI’s full potential, says Ed Sohn at Factor.
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Empathy In Mediation Offers A Soft Landing For Disputes
Experiencing a crash-landing on a recent flight underscored to me how much difference empathy makes in times of crisis or stress, including during mediation, says Eydith Kaufman at Alternative Resolution Centers.
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Series
Being An Artist Makes Me A Better Lawyer
My work as an artist has highlighted how using creativity and precision together — qualities that are equally essential in both art and law — not only improves outcomes, but also leads to more innovative and thoughtful work, says Sarah La Pearl at Segal McCambridge.