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Mergers & Acquisitions
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February 13, 2025
Travers, Foley Lead Steve Madden On £289M Kurt Geiger Deal
U.S. footwear and accessories brand Steve Madden, which was being guided by Travers Smith LLP and Foley & Lardner LLP, said Thursday that it plans to buy U.K. rival Kurt Geiger from a consortium led by the Cinven private equity group for £289 million ($361 million) to expand in international markets.
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February 13, 2025
Kirkland, Davis Polk Steer SailPoint's Upsized $1.38B IPO
Private equity-backed cybersecurity firm SailPoint began trading Thursday following an upsized $1.38 billion initial public offering that priced at the top of its range, represented by Kirkland & Ellis LLP and underwriters' counsel Davis Polk & Wardwell LLP, marking its return to public markets three years after being taken private.
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February 13, 2025
UK Greenlights PE Biz's £840M Deal For Workplace E-Trainer
Workplace training provider Learning Technologies Group PLC said Thursday the U.K. government has approved its planned £836 million ($1 billion) sale to a subsidiary of private equity group General Atlantic.
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February 12, 2025
OpenAI Says Musk Takeover Bid 'Exposes' Intent Behind Suit
OpenAI on Thursday told a California federal judge overseeing Elon Musk's lawsuit seeking to block OpenAI from becoming a for-profit enterprise that the Tesla founder has proposed acquiring OpenAI's business, saying the takeover effort reveals Musk's lawsuit to be "an improper bid to undermine a competitor."
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February 12, 2025
Bausch Health Beats Suit Over 'Faking' Financial Stability
Pharmaceutical company Bausch Health Cos. Inc. and its top brass have beaten, for now, a proposed class action accusing them of misleading shareholders about threats to the company's financial stability, with a New Jersey federal judge finding Wednesday that most of the challenged statements in the complaint are inactionable.
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February 12, 2025
Willkie DQ'd Out Of Franchise Group Ch. 11
A Delaware bankruptcy judge Wednesday denied retail chain operator Franchise Group Inc.'s request to retain Willkie Farr & Gallagher LLP in its Chapter 11, saying issues stemming from a transaction it worked on before the bankruptcy are too central to the company's reorganization plans.
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February 12, 2025
Roofing Co. Buyout Bid Heats Up With Board, Antitrust News
QXO kept up a pressure campaign against Beacon Roofing Supply Inc. on Wednesday amid a hostile takeover bid, as the technology and software company unveiled a slate of nominations to Beacon's board and announced it had received antitrust clearance from regulators in the U.S. and Canada.
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February 12, 2025
House Antitrust Chair Wants To Override Merger Overhaul
The head of the House antitrust subcommittee, Rep. Scott Fitzgerald, R-Wisc., introduced a bill Tuesday that would unwind the newly in-effect overhaul to merger filing requirements that practitioners say will significantly increase upfront burdens but that the Federal Trade Commission's Republican leadership has argued will lower costs.
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February 12, 2025
Nippon-US Steel Redo Under Trump Could Be A Win-Win
After President Donald Trump said he wants Japan's Nippon Steel to "invest" in U.S. Steel and not buy it outright as originally planned, experts say the steelmakers could still arrive at a win-win transaction if they are willing to go back to the drawing board.
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February 12, 2025
Spirit Opts For Ch. 11 Plan After Latest Frontier Bid
Bankrupt budget air carrier Spirit Airlines said it will pursue confirmation of its Chapter 11 debt swap plan at a hearing scheduled for Thursday, after it and competitor Frontier Group could not come to terms on a combination of the two companies.
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February 12, 2025
Conn. Opposes Bankrupt Prospect Medical's 'Plunder'
Prospect Medical Holdings Inc. must be held accountable for harm that the hospital operator caused in Connecticut, but first, its three facilities in the state need to quickly transition to new ownership, the offices of the attorney general and the governor told a Dallas bankruptcy judge.
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February 12, 2025
Gail Slater Plans Antitrust 'Scalpel' To Protect Competition
President Donald Trump's nominee to head the U.S. Department of Justice's Antitrust Division, Gail Slater, pledged on Wednesday to enforce antitrust laws "vigorously and fairly" if she is confirmed to the role.
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February 12, 2025
Dentons Adds Indianapolis Attorney To Energy Practice
Dentons bolstered its energy practice in Indianapolis with the hire of Matthew Neumann, an attorney advising developers, investors and other parties on energy project development in Indiana and the Midwest.
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February 12, 2025
Atty Says Ex-Partner Filed Bogus Police Report Over Router
Connecticut attorney Ryan McKeen made "material misrepresentations" when reporting his ex-law partner Andrew Garza to the police for entering their former firm's office early one morning to retrieve an internet router, Garza told a state court judge in a renewed bid for sanctions against McKeen.
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February 12, 2025
Meta User Antitrust Suit Gets Nov. 17 Trial Date
A California federal judge has set a Nov. 17 trial date for accusations that Meta monopolized the social media advertising market weeks after he declined to certify a class of Facebook users that would have numbered in the millions.
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February 12, 2025
Davis Polk Guides Irish Sensor Co. On $2.3B Stateside Buy
Davis Polk-led TE Connectivity PLC said Wednesday it has agreed to acquire Richards Manufacturing Co. from funds managed by Oaktree Capital Management LP and members of the Bier family, in an all-cash transaction valued at $2.3 billion.
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February 12, 2025
Munger Tolles Coaxes Corporate Pro Out Of Retirement
Munger Tolles & Olson LLP announced Wednesday that it has added a mergers and acquisitions specialist with 30 years of experience to its roster at its Los Angeles headquarters, in a role that will have him spearheading the expansion of the firm's corporate practice to meet clients' growing needs.
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February 12, 2025
Power Generation Co. Going Public Via $770M SPAC Deal
Energy solutions company e2Companies LLC, led by Haynes Boone, on Wednesday unveiled plans to go public via a merger with Vinson & Elkins LLP-advised special purpose acquisition company Nabors Energy Transition Corp. II in a deal that holds a pro forma enterprise value of $770 million for the combined company.
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February 12, 2025
UK Clears £2.55B BlackRock Bid For Data Biz Preqin
The U.K.'s competition watchdog said Wednesday it has given the green light to asset management giant BlackRock's £2.55 billion ($3.16 billion) takeover of Preqin Ltd., a markets data provider based in London.
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February 11, 2025
Quantum Computing Secures TRO In Battle With Investor
New Jersey-headquartered Quantum Computing Inc. won continuation of a Delaware Court of Chancery temporary restraining order Tuesday against a former consultant and advisory firm, barring their alleged use of trade secrets and other confidential information pending a preliminary injunction hearing or trial.
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February 11, 2025
J&J Allies Dub Milestone Fee Reversal 'Crucial' To Del.
The National Association of Manufacturers pushed back Tuesday against Fortis Advisors LLC opposition to a NAM amicus brief seeking Delaware Supreme Court reversal of a medical robotics developer's $1 billion merger milestone damage award after its acquisition by Johnson & Johnson.
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February 11, 2025
Brokerage Exec Can Be Sued Over Fraud Claims, Judge Says
An Illinois magistrate judge told the former owner of Center Street Securities on Tuesday that he cannot escape claims he concealed regulatory issues before his company was acquired by financial services company Arete Wealth, ruling that the stock purchase agreement's broad definition of liabilities could include the allegedly undisclosed violations at issue in the suit.
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February 11, 2025
FTC Bureau Heads Include DOJ Alum With Big Tech Mandate
The Federal Trade Commission named its new competition and consumer protection bureau chiefs Monday, tapping for its top competition enforcer the U.S. Department of Justice Antitrust Division's civil conduct head, praised specifically for his "experience taking on Big Tech."
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February 11, 2025
Proskauer-Led Rocktree Buys Atria, Secures $350M Financing
Infrastructure service provider Rocktree Logistics Group has agreed to buy a group of South American port services companies called Atria Soluciones Logisticas from private equity shop Southern Cross Group in a deal built by three law firms, and has secured $350 million in private credit financing in connection with the deal.
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February 11, 2025
Bain Scraps Fuji Soft Tender Offer In Bid War With KKR
Bain Capital said Tuesday that it may withdraw its plans to buy a majority stake in Fuji Soft after rival bidder KKR raised its own offer to take control of the Japanese information technology firm.
Expert Analysis
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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.
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How Judiciary Can Minimize AI Risks In Secondary Sources
Because courts’ standing orders on generative artificial intelligence and other safeguards do not address the risk of hallucinations in secondary source materials, the judiciary should consider enlisting legal publishers and database hosts to protect against AI-generated inaccuracies, say attorneys at Lankler Siffert & Wohl.
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How Attorneys Can Break Free From Career Enmeshment
Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.
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Lawyers With Disabilities Are Seeking Equity, Not Pity
Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.
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Fostering Healthcare Industry Success With Joint Ventures
As the healthcare industry continues to evolve, joint ventures remain a key strategy to unite health systems, private equity firms and physician practices in leveraging their collective strengths to foster innovation and improve patient care, say Carole Becker and Travis Jackson at McDermott.