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Mergers & Acquisitions
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March 10, 2025
ServiceNow Makes AI Push With $2.85B Moveworks Buy
Santa Clara, California-based software company ServiceNow said Monday it has agreed to acquire Moveworks for $2.85 billion, in a move that ServiceNow said will expand its existing artificial intelligence offerings to include more automated options for front-end employees.
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March 10, 2025
Travers Smith-Led DBAY Ups Alliance Pharma Bid To £362M
Asset manager DBAY Advisors said Monday that a bidding company it formed in partnership with a European private equity fund has agreed to increase its offer for British consumer healthcare company Alliance Pharma to approximately £362 million ($468 million).
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March 10, 2025
Kirkland-Led BWGI Offer Values French Glass Co. At €6.1B
Asset manager BWGI said Monday it is making an offer for the shares of Verallia it doesn't already own, giving the French glass packaging maker an enterprise value of €6.1 billion ($6.6 billion), in a deal guided by Bredin Prat and Kirkland.
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March 10, 2025
Assura Tentatively Accepts KKR's Sweetened £1.6B Bid
The board of property manager Assura said Monday that it is willing to back an improved £1.6 billion ($2.1 billion) proposed takeover offer from two U.S. private equity firms, batting away a rival bid by a U.K. real estate investment trust.
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March 07, 2025
Musk To Give Deposition In Twitter Shareholder Suit
Elon Musk has agreed to sit for a deposition in early April in a proposed shareholder class action accusing him of fraudulently claiming Twitter had a bot problem to get out of his $44 billion acquisition of the site, his attorneys said Friday.
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March 07, 2025
Occidental Prevails In Ex-Anadarko Worker's Severance Fight
A Texas federal judge granted an early win Friday to Anadarko Petroleum's severance plan and benefits committee in an ex-executive's suit alleging he was owed severance after an acquisition by Occidental Petroleum in 2019, finding the petroleum giant's decision to deny benefits wasn't an abuse of discretion.
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March 07, 2025
CPKC Rail Merger Enviro Review Needs Redo, DC Circ. Told
A group of Illinois towns told the D.C. Circuit on Friday that federal regulators relied on flawed train traffic data to approve Canadian Pacific's $31 billion merger with Kansas City Southern, failing to account for significant public safety and environmental harms to Windy City communities.
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March 07, 2025
Steward Health Gets OK For Deal On Transition Contracts
A Texas bankruptcy judge Friday gave Steward Health Care the go-ahead to turn over responsibility for transition services for the dozens of hospitals it has sold during its Chapter 11 case to another hospital chain.
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March 07, 2025
Nikola's Ch. 11 Sale Timeline Gets Court Approval
Bankrupt electric vehicle and hydrogen fueling technology maker Nikola Corporation received approval Friday in Delaware for its proposed bidding procedures, which seek to conduct an auction for its asset in a month's time.
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March 07, 2025
Tupperware Can Seek Votes For Post-Sale Liquidation Plan
The estate of food storage company Tupperware Brands can solicit votes on its Chapter 11 liquidation plan, even as its creditors accused the debtor's latest plan of deviating from a prior agreement.
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March 07, 2025
Insignia Opens Books To Bain And CC Capital In Buyout Battle
Insignia Financial on Friday said that it agreed to open its books to Bain Capital and CC Capital after the two bidders increased their respective takeover offers to $3.34 billion Australian (US$2.11 billion) amid a bidding war.
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March 07, 2025
Tulane Panel Clashes Over Activist Investor Motivations
There's no debate that activist investor campaigns have increasingly taken aim at CEOs, but attorneys on a Friday panel at the annual Tulane Corporate Law Institute were sometimes at odds on the activists' motivations.
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March 07, 2025
Taxation With Representation: Kirkland, Wachtell, Skadden
In this week's Taxation With Representation, Walgreens Boots Alliance goes private via a deal with Sycamore Partners, Honeywell buys Sundyne from Warburg Pincus, and Jazz Pharmaceuticals acquires Chimerix.
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March 07, 2025
Gallagher's $13.5B AssuredPartners Deal Faces FTC Inquiry
Arthur J. Gallagher & Co. announced Friday that federal regulators requested additional information, for a second time, on its $13.5 billion acquisition of independent insurance brokerage AssuredPartners, extending the waiting period under the Hart-Scott-Rodino Act until 30 days after the firm complies with the request.
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March 07, 2025
DNO To Pay $450M For Rival To Boost North Sea Energy Yield
Norwegian oil and gas operator DNO ASA said Friday it has agreed to acquire rival Sval Energi from private equity investor HitecVision AS for $450 million in cash to expand its output in the North Sea.
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March 07, 2025
Debevoise Helps Resolution Life Cover $9.7B Of Annuity Risk
Resolution Life said Friday that it will take on $9.7 billion worth of insurance risk for Protective Life Corp. to help the U.S. group manage complex life and annuity products.
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March 06, 2025
Frank Wanted Artificial Data To Ensure $175M Deal, Jury Told
A JPMorgan Chase & Co. engineering executive on Thursday told a Manhattan federal jury that Frank founder Charlie Javice and her deputy asked him to produce artificial data for millions of purported users of the education company's services, in order to induce the bank into buying the startup for $175 million.
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March 06, 2025
State AGs Want Fees In Kroger Wash., Ore. Merger Cases
A total of 10 attorneys general kicked off two separate bids Wednesday for attorney fees in the state and federal court cases in Washington and Oregon that blocked Kroger's $24.6 billion bid to buy Albertsons, arguing in the federal lawsuit that their substantial participation alongside the Federal Trade Commission means they "substantially prevailed."
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March 06, 2025
Del. Chancery Fast-Tracks Review Of $8B Paramount Merger
Delaware's chancellor on Thursday rejected Paramount shareholders' bid for a temporary restraining order that sought to block its proposed $8.2 billion sale to Skydance Media, but she agreed to expedite the proceeding at a "break-neck pace" over breach of fiduciary duty claims involving Paramount's response to an alternative $13.5 billion offer.
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March 06, 2025
FTC Challenges PE Firm's Medical Device Coatings Deal
The Federal Trade Commission moved Thursday to block private equity firm GTCR BC Holdings LLC's planned $627 million acquisition of Surmodics Inc. over concerns about competition for medical device coatings.
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March 06, 2025
Dems Tell DOJ Musk May Be Strong-Arming X Advertisers
Democratic lawmakers led by Sens. Elizabeth Warren, D-Mass., and Cory Booker, D-N.J., have warned the U.S. Department of Justice and the Federal Trade Commission that billionaire Elon Musk might be using his position in the Trump administration to bully companies that advertise on his social media platform, X.
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March 06, 2025
Fintech Startup Klarna Ready For $1B IPO, Plus More Rumors
Fintech startup Klarna is readying a $1 billion initial public offering, Apollo Global Management is keen to lead a $35 billion funding package to help Meta build new data centers, and Italian fashion house Prada is near to closing a $1.6 billion deal to acquire luxury clothier Versace from Capri Holdings Ltd.
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March 06, 2025
Del. Corporate Law Rework Under Pressure At Tulane
An attorney whose firm largely represents investors and consumers told a corporate law conference in New Orleans on Thursday that the list of plaintiff-friendly rulings that would be effectively overturned by a pending corporation law bill in Delaware "will probably be just as long as the bill itself."
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March 06, 2025
Colorado Judge Tosses AG's Kroger Merger Claim
A Colorado state judge in Denver has dismissed the state's challenge to the previously proposed merger between Kroger and Albertsons, saying it became moot when the companies dropped their proposed merger following injunctions in Oregon and Washington federal courts.
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March 06, 2025
As FDIC Walks Back Biden-Era Policies, Bank Groups Applaud
The financial services industry has welcomed the Federal Deposit Insurance Corp.'s recent moves withdrawing various rule proposals from the Biden administration, delaying the compliance deadline for another measure and proposing to rescind a policy statement on bank mergers.
Expert Analysis
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The Story Of 2024's Biggest Bank Regs, And Their Fate In 2025
U.S. federal bank regulators were very active in 2024 with initiatives ranging from antitrust and capital to proposals regarding controlling shareholders and incentive-based compensation, but many regulations face an uncertain future under the new administration, say attorneys at Latham.
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Considering European-Style Lockboxes For US M&A In 2025
The lockbox mechanism, commonly used in Europe, offers an attractive alternative to the postclosing price adjustments that dominate U.S. merger and acquisition transactions in private equity, particularly with the market's demand for transparency likely to remain steadfast under Trump, says Laurent Campo at Potomac Law.
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Gov't Scrutiny Of Workplace Chat Apps Set To Keep Growing
The incoming Trump administration and Republican majorities in Congress are poised to open numerous investigations that include increasing demands for entities to produce communications from workplace chat apps, so companies must evaluate their usage and retention policies, say attorneys at Orrick.
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Del. Dispatch: The 2024 Corporate Cases You Need To Know
The Delaware Court of Chancery in 2024 issued several decisions that some viewed as upending long-standing corporate practices, leading to the amendment of the Delaware General Corporation Law and debates at some Delaware corporations about potentially reincorporating to another state, say attorneys at Fried Frank.
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2025's Midmarket M&A Terrain May Hold A Few Bright Spots
Attorneys at Stoel Rives assess middle-market merger and acquisition trends, and explain why many dealmakers have turned cautiously optimistic about the sector's 2025 prospects, despite potential inflation and new Federal Trade Commission rules.
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When US Privilege Law Applies To Docs Made Outside The US
As globalization manifests itself in disputes over foreign-created documents, a California federal court’s recent trademark decision illustrates nuances of both U.S. privilege frameworks and foreign evidentiary protections that attorneys must increasingly bear in mind, say attorneys at Hunton.
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Why Asset-Based Loans May Suit PE Companies In 2025
As the prospect of higher tariffs and interest rates expands the need for liquidity, private equity investors would do well to explore the timing and provisions of asset-based loans offered in the burgeoning credit-fund sector, say attorneys at McDermott.
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How New Merger Filing Rules Will Affect Economic Advocacy
New rules from the antitrust agencies significantly change the Hart-Scott-Rodino premerger notification process and will necessitate rigorous economic analysis earlier in the merging process as the information provided in the filings reflects important antitrust considerations, says Andrea Asoni at Charles River.
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2024 IPO Market Trends, And What To Expect Next Year
The initial public offering market returned to historically typical levels on a deal count basis in 2024 but continued to lag based on proceeds raised due to a larger number of smaller IPOs this year, and signs point to continued ongoing momentum in the next year, say attorneys at Paul Hastings.
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Green Projects Face States' Foreign Land Ownership Limits
As states impose restrictions and disclosure requirements around foreign investment in agricultural land — in some cases piggybacking on existing federal rules — renewable energy developers and investors must pay close attention to how the rules vary, says Daniel Fanning at Husch Blackwell.
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What 2024 Trends In Marketing, Comms Hiring Mean For 2025
The state of hiring in legal industry marketing, business development and communications over the past 12 months was marked by a number of trends — from changes in the C-suite to lateral move challenges — providing clues for what’s to come in the year ahead, says Ben Curle at Ambition.
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The Prospects Of Pa. Gaining Its Own Antitrust Law After 2024
In the only state that does not have its own antitrust law, Pennsylvania's business community's strong opposition to the Pennsylvania Open Markets Act signals a rough road lies ahead for passage of the bill after Republicans retained a narrow majority in the state Senate, say attorneys at BakerHostetler.
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Opinion
How The Onion Could Still Buy InfoWars
While a Texas bankruptcy judge nixed the sale of InfoWars to The Onion on Tuesday, a slight tweak to the novel mechanism proposed could make the sale approvable, says Christopher Hampson at the University of Florida.
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Series
Group Running Makes Me A Better Lawyer
The combination of physical fitness and community connection derived from running with a group of business leaders has, among other things, helped me to stay grounded, improve my communication skills, and develop a deeper empathy for clients and colleagues, says Jessica Shpall Rosen at Greenwald Doherty.
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How White Collar Defense Attys Can Use Summary Witnesses
Few criminal defense attorneys have successfully utilized summary witnesses in the past, but several recent success stories show that it can be a worthwhile trial tactic to help juries understand the complex decision-making at issue, says Jonathan Porter at Husch Blackwell.