Mergers & Acquisitions

  • August 23, 2024

    NBA Shreds Warner Bros.' Suit Over Amazon Streaming Deal

    The NBA looked to quickly snuff out a lawsuit from Warner Bros. Discovery over the league's broadcasting deal with Amazon on Friday, telling a New York state judge that the media conglomerate failed to match the streamer's offer and didn't even have the right to do so.

  • August 23, 2024

    Ex-Exec Can't Reverse Medtronic Insider Trading Conviction

    A Minnesota federal judge on Friday declined to overturn fraud convictions against a former executive of a medical robotics firm, finding the insider tips he provided to a friend ahead of Medtronic's $1.6 billion acquisition of his company were not speculative.

  • August 23, 2024

    Hong Kong Relaxes Listing Rules For Tech Startups, SPACs

    Hoping to spur more investment into emerging businesses amid a dry spell, Hong Kong's securities watchdog and stock exchange leaders on Friday unveiled relaxed listing rules for technology startups and eased requirements needed to clear mergers involving special purpose acquisition companies.

  • August 23, 2024

    Cantor, Lutnick OK $12M Deal To End View Inc. Suit In Del.

    Cantor Fitzgerald LP and its billionaire Chair and CEO Howard Lutnick on Thursday agreed to a $12 million settlement to resolve stockholder challenges to a special purpose acquisition company transaction that took window company View Inc. public, with a Delaware Court of Chancery hearing set for Dec. 6.

  • August 23, 2024

    Pot Entrepreneur Seeks To Ensure Judgment On Ex-Partner

    A cannabis entrepreneur urged a Colorado federal judge Friday to bar his former business partner from making any equity transactions until after the court has the opportunity to revisit a $6.4 million judgment ruling as part of a recent Tenth Circuit remand.

  • August 23, 2024

    Albertsons-Kroger Deal Tests FTC's Stepped-Up Merger Policy

    The Federal Trade Commission's highly anticipated hearing to block Albertsons' planned $24.6 billion merger with Kroger kicks off Monday in a Portland, Oregon, courtroom in what attorneys say will be a pivotal test of the Biden administration's newly formalized merger policy.

  • August 23, 2024

    Sale Sought For Assets Of Alex Jones' Co.

    The court-appointed trustee in Alex Jones' bankruptcy case has asked a Texas judge to authorize the liquidation and wind-down of Free Speech Systems LLC, arguing that Jones' estate wholly owns the company and that it has valuable assets to monetize.

  • August 23, 2024

    Electric Car Co. Fisker Promises Ch. 11 Plan In A Week's Time

    A Delaware bankruptcy judge Friday gave defunct electric-vehicle maker Fisker Inc. permission to enter into a deal with its lenders that will see it file a Chapter 11 plan by the end of August and seek court approval for the plan in just over a month.

  • August 23, 2024

    Canada Mining Biz Seeks US Listing Via $589M SPAC Merger

    Canadian rare-earth miner Tactical Resources Corp. plans to go public in the U.S. by merging with special purpose acquisition company Plum Acquisition III Corp. at an estimated value of $589 million, both parties announced on Friday, through a deal guided by four law firms.

  • August 23, 2024

    Clinic Biz Can Tap Additional Ch. 11 Lifeline, Judge Says

    A Delaware bankruptcy judge agreed on Friday to allow clinic operator Pioneer Health to take on more debtor-in-possession financing as it works toward an asset sale, finding the latest arrangement to be in the debtor's best interest.

  • August 23, 2024

    SPAC Investors Ask Full 9th Circ. To Rethink Lucid Merger

    Investors have urged the full Ninth Circuit to rethink a panel's refusal to revive their proposed class action alleging that Lucid duped them into buying stock in a special purpose acquisition company ahead of the electric vehicle maker's $11.75 billion merger, arguing that the panel's holding misconstrues U.S. Supreme Court precedent, among other issues.

  • August 23, 2024

    Covington-Led Getinge Pays $477M For Organ Transplant Biz

    Swedish healthcare company Getinge, advised by Covington & Burling LLP, has unveiled plans to buy Sheppard Mullin Richter & Hampton LLP-led Paragonix, a provider of organ transport products and services in the U.S., in a $477 million deal.

  • August 23, 2024

    Wachtell Reps As MLB's Braves Announce Executive Shakeup

    The parent company of the Atlanta Braves on Friday announced that Chairman and CEO Terry McGuirk will have increased voting power, representing a major shift in control after Liberty Media Corp. split off from the MLB team and its associated real estate development company in November 2022 to become a separate publicly traded entity.

  • August 23, 2024

    Taxation With Representation: Latham, Wachtell, Paul Weiss

    In this week's Taxation With Representation, Arch Resources merges with Consol Energy in a deal worth $5.2 billion, Advanced Micro Devices agrees to purchase ZT Systems for $4.9 billion, and Japanese tobacco company JT Group inks a deal to buy Vector Group for $2.4 billion.

  • August 22, 2024

    Pennsylvania Hospital Gets 1 Week Reprieve In Steward Ch. 11

    A Texas bankruptcy judge on Thursday approved an order setting general closing procedures for bankrupt hospital operator Steward Health Care, but gave Pennsylvania authorities a week's reprieve as they try to arrange a hospital sale.

  • August 22, 2024

    Investors Sue Orthopedics Co., Ousted Execs Over Stock Drop

    Investors of Texas-based Orthofix Medical Inc. have launched a proposed class action against the spine and orthopedics company and current and former executives, claiming the company's stock tumbled more than 30% following Orthofix's merger with medical technology company SeaSpine in 2023 and the unexpected termination and reshuffle of some of the company's C-suite.

  • August 22, 2024

    Big Deals Boost M&A Values As Transaction Numbers Dip

    Large global deals and mega-mergers continued to boost global mergers and acquisitions values through the first half of 2024, compensating for record lows in the total number of deals announced, according to a recent report from S&P Global Intelligence.

  • August 22, 2024

    Kroger-Albertsons Wrong On Labor Law In FTC Row: NLRB

    The National Labor Relations Board used an amicus brief Wednesday to call out Kroger and Albertsons for their "mistaken" citation to labor law as a defense against Federal Trade Commission claims that the grocery giants' $25 billion megamerger threatens union bargaining leverage.

  • August 22, 2024

    Israeli Tech Co. Cancels SPAC Deal Amid Market Rout

    Pomvom, an Israeli software maker that caters to theme parks, and a special purpose acquisition company announced Thursday they have nixed their planned $125 million merger, which would've taken the tech firm public, citing a "change in global market conditions."

  • August 22, 2024

    Borrowed Claims Revived In CenturyLink Merger Suit

    A Colorado Court of Appeals panel said Thursday that attorneys can borrow confidential witness statements from other lawsuits without speaking to the witnesses as long as they take other investigatory steps, reinstating a shareholder suit against CenturyLink.

  • August 22, 2024

    Flyers Chided For Late Bid To Block Alaska-Hawaiian Deal

    A Hawaii federal judge refused to pause the planned $1.9 billion tie-up between Alaska Airlines and Hawaiian Airlines on Wednesday, telling attorneys for the passengers and travel agents bringing a merger challenge that they appear to have "forgotten" the case was tossed.

  • August 22, 2024

    Deals Rumor Mill: Saudi Fund, Disney-Reliance, Repligen

    Saudi Arabia’s sovereign wealth fund wants to launch a new cargo airline, India’s antitrust regulators worry about power over cricket rights if the $8.5 billion merger of Walt Disney’s Indian business with Reliance Entertainment is allowed, and drug manufacturing provider Repligen is eyeing Maravai LifeSciences. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • August 22, 2024

    Mike Lynch's Path From Tech Founder To DOJ Target

    Friends and colleagues paid tribute to Mike Lynch following his death in a yachting accident on Thursday, hailing the British tech entrepreneur for the decades he spent furthering the industry despite the legal troubles that threatened to overshadow his career.

  • August 22, 2024

    Mining Firm USA Rare Earth Inks $870M SPAC Merger

    Mining and magnet firm USA Rare Earth LLC, advised by King & Spalding LLP, on Thursday announced plans to go public at a pro forma enterprise value of $870 million by merging with White & Case LLP-led special purpose acquisition company Inflection Point Acquisition Corp. II.

  • August 22, 2024

    'Beloved By Everyone': Attys Recall Clifford Chance's Morvillo

    Clifford Chance LLP partner Christopher Morvillo, who died this week after a luxury yacht he was on sank off the coast of Sicily, is being remembered not only as a lion of the legal community but also as an "extraordinary human being" and a "Renaissance man" who was devoted to his family.

Expert Analysis

  • Practicing Law With Parkinson's Disease

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    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

  • Opinion

    Aviation Watch: Not All Airline Mergers Hurt The Public

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    The U.S. Department of Justice's actions to block recent attempted airline mergers have been touted as serving the interests of the consumers — but given the realities of the deregulated air travel market, a tie-up like the one proposed between JetBlue and Spirit might have been a win for the public, says Alan Hoffman, a retired attorney and aviation expert.

  • The Merger Cases That Will Matter At ABA Antitrust Meeting

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    While the American Bar Association's Antitrust Spring Meeting this week will cover all types of competition law issues in the U.S. and abroad, expect the federal agencies' recent track record in merger enforcement to be a key area of focus on the official panels and in cocktail party chatter, say attorneys at Freshfields.

  • Calif. Verdict Showcases SEC's New 'Shadow Trading' Theory

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    Last week's insider trading verdict, delivered against biopharmaceutical executive Matthew Panuwat by a California federal jury, signals open season on a new area of regulatory enforcement enabled by the U.S. Securities and Exchange Commission's shadow trading theory, say Perrie Weiner and Aaron Goodman at Baker McKenzie.

  • Climate Disclosure Mandates Demand A Big-Picture Approach

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    As carbon emissions disclosure requirements from the European Union, California and the U.S. Securities and Exchange Commission take effect, the best practice for companies is not targeted compliance with a given reporting regime, but rather a comprehensive approach to systems assessment and management, says David Smith at Manatt.

  • Series

    Playing Hockey Makes Me A Better Lawyer

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    Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.

  • Considerations For Evaluating IP Risks In Cannabis M&A

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    Due to the patchwork of state cannabis laws in the U.S., investors and businesses acquiring intellectual property must assess whether a trademark portfolio possesses any vulnerabilities, such as marks that are considered attractive to children or third-party claims of trademark infringement, say Mary Shapiro and Nicole Katsin at Evoke Law.

  • A Snapshot Of The Evolving Restrictive Covenant Landscape

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    Rachael Martinez and Brooke Bahlinger at Foley highlight recent trends in the hotly contested regulation and enforcement of noncompetition and related nonsolicitation covenants, and provide guidance on drafting such provisions within the context of stand-alone employment agreements and merger or acquisition transactions.

  • For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill

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    A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.

  • Private Capital Considerations Amid Market Revival

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    As improved market conditions position traditional financing to regain lost market share, it's also worth considering the pace and structure of private credit and other forms of private capital, especially when seeking to set unique terms or build new corporate relationships, say attorneys at Skadden.

  • Opinion

    Requiring Leave To File Amicus Briefs Is A Bad Idea

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    A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.

  • 4 Ways To Motivate Junior Attorneys To Bring Their Best

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    As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.

  • Flexibility Is Key In Hybrid Capital Investment Strategies

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    Flexible or hybrid capital funds have become a solution for some owners adverse to private debt or requiring short-term capital support not otherwise available in the market, but the complexity and possible range of structures available means that principals need to consider how they may work in different scenarios and outcomes, says Daniel Mathias at Cohen Gresser.

  • The Tricky Implications Of New Calif. Noncompete Laws

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    Two new California noncompete laws that ban certain out-of-state agreements and require employers to notify certain workers raise novel issues related to mergers and acquisitions, and pose particular challenges for technology companies, says John Viola at Thompson Coburn.

  • Planning For Healthcare-Private Equity Antitrust Enforcement

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    U.S. antitrust agency developments could mean potential enforcement actions on healthcare-related acquisitions by private equity funds are on the way, and entities operating in this space should follow a series of practice tips, including early assessment of antitrust risks on both the state and federal level, say Ryan Quillian and John Kendrick at Covington.

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