Try our Advanced Search for more refined results
Mergers & Acquisitions
-
May 15, 2024
Ollie's Can Make $14.6M Stalking-Horse Bid For 99 Cents Only
Discount retail chain 99 Cents Only received approval Wednesday from a Delaware bankruptcy judge for a $14.6 million stalking-horse bid for 11 of its properties in Texas from Ollie's Bargain Outlet Inc., another discount retailer.
-
May 15, 2024
Metropolis, SP Plus Get Rare Early End To $1.5B Deal Probe
The U.S. Department of Justice has agreed to a rare early termination of its review of payments tech company Metropolis Technologies Inc.'s planned $1.5 billion deal for parking and logistics provider SP Plus Corp., after previously requesting additional information about the transaction.
-
May 15, 2024
Seyfarth Shaw Adds Corporate Pro From Hogan Lovells
Seyfarth Shaw LLP has brought on a new corporate partner with more than 30 years of BigLaw advisory experience amid the firm's continuing corporate department growth in New York.
-
May 15, 2024
Top Calif. Dealmakers Join Sullivan & Cromwell From Skadden
Sullivan & Cromwell LLP said Wednesday it is bringing two "top Silicon Valley dealmakers" from Skadden Arps Slate Meagher & Flom LLP to the firm, touting the pair's history with multibillion-dollar technology-related mergers and acquisitions.
-
May 15, 2024
Chancery Orders $199M Penalty In TransCanada Deal Suit
Citing "non-cumulative" damages award offsets, a Delaware vice chancellor on Wednesday ordered the former TransCanada Corp. to pay $199 million of a potential $283 million judgment issued in a post-trial ruling last year on amounts owed to former Columbia Pipeline Group Inc. shareholders shorted in a 2016 merger.
-
May 15, 2024
Chinese Art Marketplace, EV Co. Ink SPAC Deals Worth $834M
Two Chinese companies, art marketplace Tyfon Culture Holdings and electric-vehicle maker Aiways Europe have announced plans to go public in the U.S. via mergers with special-purpose acquisition companies in deals that are together valued at around $834 million.
-
May 15, 2024
Klobuchar Wants FTC To Make Firms Report Real Estate Buys
It's time for the Federal Trade Commission to require the companies and private equity firms gobbling up residential real estate to report those acquisitions to the agency for antitrust purposes the same way they have to report other big purchases, Sen. Amy Klobuchar said.
-
May 15, 2024
Kirkland Guiding Billionaire McCourt On Bid To Buy TikTok
Billionaire Frank McCourt, advised by Kirkland & Ellis, says he's building a consortium to purchase TikTok and redesign the platform to eliminate the collection of users' information, putting "people in control of their [own] digital identities and data."
-
May 15, 2024
Royal Mail 'Minded' To OK New £3.5B Bid From Czech Mogul
The owner of national postal carrier Royal Mail said on Wednesday that it is prepared to accept an increased buyout bid worth £3.5 billion ($4.4 billion) by a conglomerate controlled by Czech billionaire Daniel Křetínský, in a deal led by Kirkland & Ellis LLP.
-
May 15, 2024
Vodafone Begins €500M Share Buyback Following Biz Sale
Vodafone Group PLC unveiled the take-off of a share repurchase program worth up to €500 million ($631 million) on Wednesday, the first part of a wider year-long €2 billion buyback funded by the proceeds of selling its business in Spain.
-
May 14, 2024
Musk Can't Avoid Another Deposition In SEC Twitter Dispute
A California federal judge on Tuesday ordered Elon Musk to testify once again in the U.S. Securities and Exchange Commission's suit over his $44 billion acquisition of X, formerly known as Twitter, finding that the SEC's subpoena "reasonably seeks" information relevant to the agency's investigation.
-
May 14, 2024
Autonomy Overstated Revenue Before HP Sale, Jury Hears
Autonomy's reported revenue was overstated by a combined $300 million in the two-and-a-half years before HP acquired it, an accounting expert testified Tuesday in a California criminal trial over claims that Autonomy founder Michael Lynch duped HP into buying his software company for an inflated $11.7 billion price.
-
May 14, 2024
Holland Adds Healthcare Transactions Partner In Chicago
Holland & Knight on Tuesday announced the arrival of attorney John Saran on its healthcare transactions team, who joins after nine years at Ropes & Gray LLP.
-
May 14, 2024
FTC Cleared To Sue Texas Anesthesia Co., But Not PE Firm
A Texas federal judge highlighted the limits of the Federal Trade Commission's ability to go after private equity firms accused of anti-competitive "roll-up" strategies, tossing antitrust claims against a private equity firm while preserving monopolization allegations against the anesthesia group the firm created.
-
May 14, 2024
Vodafone Gets Green Light For €5B Sale Of Spanish Biz
Vodafone Group PLC said Tuesday in a statement that it has received final approval from Spanish authorities for its planned sale of Vodafone Spain — or Vodafone Holdings Europe SLU — to Zegona Communications PLC for €5 billion ($5.3 billion).
-
May 14, 2024
Kilmer Sports Looks To Buy French Soccer Club Saint-Étienne
Canada-based sports investment firm Kilmer Sports Ventures has entered into exclusive negotiations with shareholders to discuss purchasing AS Saint-Étienne, a "decorated and beloved" soccer club in France, according to a joint Monday statement.
-
May 14, 2024
FalconPoint Plugs $250M Into Infrastructure Solutions Biz
New York-based private equity shop FalconPoint Partners on Tuesday announced that it plugged over $250 million into infrastructure company Jennmar as an inaugural investment in a deal built by three law firms.
-
May 14, 2024
Fla. Man Get 13 Mos. For Trading On Goldman Insider Info
A Florida man was sentenced to 13 months in prison after pleading guilty to trading stocks on information provided by a former Goldman Sachs analyst, his attorney said Tuesday.
-
May 14, 2024
Social Media Software Co.'s Deal Hurt Investors, Suit Says
Social media management platform Sprout Social was hit with a proposed class action alleging that it concealed that its growth following the acquisition of an influencer marketing platform was unsustainable and that it damaged investors when disappointing financial results and a guidance-cut announcement led to a share decline.
-
May 14, 2024
DLA Piper Expands To Brazil With New São Paulo Office
DLA Piper announced that it is growing its Latin American operations with a newly opened location in Brazil's largest city, São Paulo.
-
May 14, 2024
Katten Adds M&A Litigation Practice Chair From DLA Piper
Katten Muchin Rosenman LLP has added an experienced mergers and acquisitions partner from DLA Piper in Texas, the firm said Tuesday.
-
May 14, 2024
Online Education Biz To Go Public Via $135M SPAC Merger
Education technology company and online class provider Classover, led by RPCK Rastegar Panchal LLP, on Tuesday unveiled plans to go public via a merger with special purpose acquisition company Battery Future Acquisition Corp., advised by Graubard Miller and Nelson LLP, in a deal with an estimated value of $135 million.
-
May 14, 2024
Carbon Capture Co.'s $1.8B SPAC Deal Sparks Chancery Suit
Stockholders who lost big after a blank-check company took carbon-capture venture LanzaTech NZ Inc. public in a purportedly $1.8 billion reverse-merger in February 2023 have sued for damages in Delaware's Court of Chancery, alleging disclosure failures and other defects prior to closing.
-
May 14, 2024
Freshfields Guides Uber In Food Delivery Biz Buy For $950M
Uber said Tuesday that it has agreed to acquire food delivery business Foodpanda in Taiwan from Delivery Hero, a German operator, for $950 million to complement its Uber Eats food delivery unit in one of the biggest international deals in the Asian country.
-
May 14, 2024
Logistics Investor Tritax Sells Swedish Assets For $35M
Tritax EuroBox PLC said on Tuesday it will sell a warehouse in Gothenburg for 385 million Swedish kronor ($35.5 million) to repay debt and free up cash for reinvestment.
Expert Analysis
-
A Look At Successful Bid Protests In FY 2023
Attorneys at Sheppard Mullin look beyond the statistics in the U.S. Government Accountability Office’s recent annual report on bid protests, sharing their insights about nine categories of sustained protests, gained from reading every fiscal year 2023 decision in which the protester had a positive result.
-
Del. Dispatch: Refining M&A Terms After Twitter Investor Suit
The Delaware Court of Chancery's recent decision in Crispo v. Musk — invalidating a merger agreement provision that has been commonly used to disincentivize buyers from wrongful merger termination — should cause target companies to consider new approaches to ensure the payment of lost premium damages, say attorneys at Fried Frank.
-
Navigating Discovery Of Generative AI Information
As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.
-
Finding Focus: Strategies For Attorneys With ADHD
Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.
-
How 'Safe Harbor' Policy Will Modify M&A Processes
Legal practitioners should be aware that the Justice Department's "safe harbor" immunity will change the typical M&A process significantly as acquirers start embedding fraud detection into their due diligence, including a broader scope of examinations and interviews, says Jesse Silvertown at The Ledge.
-
Earnout Contract Considerations After NC Good Faith Ruling
The North Carolina Supreme Court's recent Value Health Solutions v. Pharmaceutical Research decision, holding the implied covenant of good faith and fair dealing did not apply in an earnout dispute related to an asset sale, demonstrates the need for practitioners to pay careful attention to milestone concepts in M&A transactions, says Benjamin Hicks at Wagner Hicks.
-
M&A Ruling Buoys Loss Calculation Method, R&W Insurance
The recent Southern District of New York decision in Taylor Precision Products v. Larimer affirms the use of EBITDA as a basis to quantify loss, highlighting the potential shortcomings of a traditional seller indemnity compared to representation and warranty insurance, say Mark Schwartz at Lockton, and William O’Neil and Gretchen Scavo at Winston & Strawn.
-
Build Or Buy: Assessing Options For Starting A New Bank
Attorneys at Nelson Mullins evaluate key considerations for deciding whether to charter a new bank or purchase an existing one to implement a new business plan, as depressed stock prices, high-profile failures and regulatory stagnation create headwinds for new banks.
-
Opinion
Courts Shouldn't Credit Allegations From Short-Seller Reports
Securities class actions against public companies can extend for years and lead to significant settlements, so courts should not allow such cases with allegations wholly reliant on reports by short-sellers, who have an economic interest in seeing a company's stock price decline, to proceed past the motion to dismiss stage, says Richard Zelichov at DLA Piper.
-
Unlocking Value In Carve-Out M&A Transactions
Some of the largest mergers and acquisitions in 2023 were carve-out transactions, and despite their unique intricacies and challenges, these transactions offer both buyers and sellers the opportunity to generate outsized returns in an otherwise vigorously competitive landscape, when carefully planned and diligently executed, say Kevin Crews and Rami Totari at Kirkland.
-
Attorneys, Law Schools Must Adapt To New Era Of Evidence
Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.
-
Biden Admin's M&A Rhetoric Outpaces Enforcement Numbers
Despite the Biden administration's rhetoric about the need to reinvigorate antitrust efforts, merger enforcement actions by the Federal Trade Commission and the U.S. Department of Justice Antitrust Division are at 20-year lows, with the agencies opting for deterrence instead, says Ryan Quillian at Covington.
-
Tips For Litigating Against Pro Se Parties In Complex Disputes
Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.
-
Del. Dispatch: Lessons From Failed ETE-Williams Merger
Attorneys at Fried Frank delve into the Delaware Supreme Court's recent decision in Energy Transfer v. Williams to highlight the major monetary consequences of a failed merger, and show why merger agreement drafting and factual context are of utmost importance.
-
5 Ways To Leverage Recent DOJ 'Safe Harbor' M&A Policy
Companies can take a series of practical steps both before and after closing to gain maximum advantage from the recently announced U.S. Department of Justice merger and acquisition safe harbor policy and minimize enforcement risk, say Jonny Frank and Jeremy Hirsch at StoneTurn.