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Mergers & Acquisitions
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December 17, 2024
Dutch Chipmaker To Buy Vehicle Connectivity Biz For $243M
NXP Semiconductors NV said Tuesday that it plans to buy Aviva Links, an in-vehicle connectivity business, for $242.5 million, to offer additional automotive network products.
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December 17, 2024
Carlsberg-Britvic £3.3B Deal Gets UK, EU Green Light
Antitrust authorities in the U.K. and Europe said Tuesday that they have cleared the planned £3.3 billion ($4.2 billion) takeover by Danish brewer Carlsberg of U.K. soft drinks maker Britvic PLC.
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December 16, 2024
Ginkgo Bioworks Investors Get Final OK Of $17.8M Settlement
Investors in biotech company Ginkgo Bioworks Holdings Inc. have gotten final approval for their $17.75 million deal to end proposed class action claims that the company and its leaders distorted Ginkgo's finances, mischaracterizing certain related party deals, to garner shareholder support for its merger with a special purpose acquisition company.
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December 16, 2024
TikTok Brings Sale-Or-Ban Fight To High Court
TikTok asked the U.S. Supreme Court on Monday to stay a federal law that would force its owners to divest from the wildly popular social media app or shut its U.S. operation down just before Donald Trump's inauguration, saying his administration should get a say in the app's fate.
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December 16, 2024
'Plans Do Matter,' Tempur Sealy Says In Final Merger Hearing
Tempur Sealy made its final push Monday in support of its $4 billion planned Mattress Firm purchase, telling a judge during closing arguments that the Federal Trade Commission hadn't shown that the company planned to deviate from its intent for Mattress Firm to remain autonomous.
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December 16, 2024
Merger Enforcers End Year On Upswing
The Biden administration's antitrust enforcers have boasted that one side effect of their aggressive approach to merger enforcement has been helping stop problematic deals from being cut in the first place, but the agencies also scored key court rulings blocking transactions in their final year that could have a more enduring effect.
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December 16, 2024
Court Approves Mandated $115M Door Factory Sale
A Virginia federal court has approved the planned $115 million sale of a door-skin manufacturing plant after a landmark order forced Jeld-Wen to unload the factory in a long-running private antitrust case by rival Steves & Sons Inc.
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December 16, 2024
Albertsons Says Kroger 'Squandered' $25B Merger Bid
The Kroger Co. Inc. "willfully squandered" opportunities to complete a now-blocked $24.6 billion mega-merger with Albertsons Cos. Inc., according to an unsealed five-count lawsuit in Delaware's Court of Chancery potentially seeking billions in damages.
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December 16, 2024
US Lends $9.6B To Build EV Battery Plants In The South
The U.S. Department of Energy has agreed to loan Ford Motor Co. and South Korean battery manufacturer SK On up to $9.63 billion for a joint venture that includes building electric vehicle battery plants in Tennessee and Kentucky, according to a Monday statement.
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December 16, 2024
Honeywell May Split Aerospace Biz Amid Activist Pressure
Honeywell International Inc. on Monday said it is mulling a separation of its aerospace business, after activist investment firm Elliott Investment Management LP in November pushed for the industrial conglomerate to separate itself into two independent companies.
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December 16, 2024
3 Firms Guide Goldman Sachs On Buying Synthon Stake
The alternative investment arm of Goldman Sachs said Monday that it plans to buy a majority stake in the drugmaker Synthon from British investment firm BC Partners LLP, in a deal that values the Dutch company at a reported €2 billion ($2.1 billion).
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December 16, 2024
Gibson Dunn Guides Vera Wang In Sale Of IP To WHP Global
New York-based brand management firm WHP Global, advised by Kirkland & Ellis LLP and Pryor Cashman LLP, on Monday announced that it has agreed to buy all the intellectual property of Gibson Dunn & Crutcher LLP-advised luxury designer brand Vera Wang.
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December 16, 2024
Anglo American-Backed Engine Tech Co. Files Ch. 11
A developer of hybrid electric hauling equipment has filed for Chapter 11 protection in Delaware bankruptcy court with nearly $98 million in debt and an agreement with its secured lender and parent, mining company Anglo American, to pursue a sale.
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December 16, 2024
Gov't Approves £3.6B Royal Mail Sale To Czech Tycoon
A conglomerate controlled by Czech billionaire Daniel Křetínský said Monday that its planned £3.6 billion ($4.5 billion) purchase of Royal Mail's parent has moved a step closer to delivery after the U.K. government approved it — with several conditions.
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December 13, 2024
Medical Device Co. Brass Hid SPAC's True Value, Suit Says
The executives and directors of a healthcare holding company have been hit with a shareholder derivative suit in Colorado federal court alleging the company hid the financial and regulatory risks it faced to inflate its value after merging with a blank check company.
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December 13, 2024
Canadian Gold Mining Co. Beats Investor Suit Over M&A Plans
A New York federal judge on Friday granted a Canadian gold mining company a summary judgment win in a securities lawsuit accusing it of misleading investors about its corporate acquisition strategy, saying statements a California investor challenged didn't exclude the possibility of acquiring another company if the right opportunity arose.
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December 13, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen a group of franchise operators hit Vodafone with a £120 million ($151 million) claim for allegedly imposing commission cuts, green energy tycoon Dale Vince pursue another libel action against the publisher of the Daily Mail, and parcel delivery giant Yodel face a claim by an investor that helped save it from collapse earlier in the year.
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December 13, 2024
SEC's Corporation Finance Director Gerding To Step Down
The U.S. Securities and Exchange Commission announced Friday that the head of its Division of Corporation Finance, who oversaw the finalization of controversial new rules covering environmental disclosures and share repurchases, will leave the agency at the end of the year.
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December 13, 2024
DC Circ. Declines To Disturb Law That Could Ban TikTok
The D.C. Circuit on Friday rejected TikTok's request for a preliminary injunction delaying implementation of a law requiring the app to split with its Chinese parent company ByteDance Ltd. or face a nationwide ban, saying that TikTok wants to block "the enforcement of a presumptively valid act of Congress."
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December 13, 2024
$15M Deal To End Hemisphere Media Merger Suit OK'd In Del.
Former public stockholders of Hemisphere Media Group Inc. secured a $15 million Delaware Court of Chancery settlement Friday for claims that former controlling investor Searchlight Capital Partners LP took the media business private in a two-step deal that undervalued the company's remaining shares.
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December 13, 2024
Off The Bench: PE Buys In On NFL, WWE Abuse Suit Back On
In this week's Off The Bench, two teams usher in a new era for the NFL by bringing in private equity investors, a suit accusing the WWE and Vince McMahon of sexual abuse and trafficking picks back up while a federal investigation continues, and a private equity giant and NHL owner passes away.
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December 13, 2024
Taxation With Representation: Kirkland, Davis Polk, Wachtell
In this week's Taxation With Representation, Google and TPG Rise Climate partner with Intersect Power, Gen Digital Inc. acquires MoneyLion Inc., Patient Square Capital acquires Patterson Companies Inc., and the Buffalo Bills and Miami Dolphins sell minority ownership shares to private equity firms.
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December 13, 2024
3 Firms Guide Pair Of SPAC Listings Totaling $410M
Two special purpose acquisition companies began trading on Friday after completing initial public offerings that raised a combined $410 million, under guidance from three law firms, targeting industries spanning cybersecurity, artificial intelligence and financial technology.
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December 13, 2024
'Buy Now, Pay Later' Co. Affirm Inks $4B Deal With PE Firm
Payment network Affirm Holdings Inc., advised by Mayer Brown LLP, on Friday announced that it has entered into a partnership with investment firm Sixth Street under which Sixth Street will plug up to $4 billion into the "buy now, pay later" company.
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December 13, 2024
Lawmakers Press Tech Giants As TikTok D-Day Looms
A pair of lawmakers on Friday leaned on TikTok to ensure it meets a Jan. 19 deadline to sell its operations or face a U.S. ban, while also pressing tech giants Apple and Google to be prepared to deplatform the video-sharing app if it refuses to sell.
Expert Analysis
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9 Liability Management Tips As Debt Maturity Cliff Looms
As the debt maturity cliff swiftly approaches in this challenging environment, attorneys at Winston & Strawn highlight the top considerations for boards of directors and finance professionals to think about when structuring and executing liability management transactions, including reviewing capital structure, evaluating debt covenants, and more.
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Firms Must Offer A Trifecta Of Services In Post-Chevron World
After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.
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5 Tips To Succeed In A Master Of Laws Program And Beyond
As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.
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Series
Being An Opera Singer Made Me A Better Lawyer
My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.
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How Law Firms Can Avoid 'Collaboration Drag'
Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.
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Opinion
Litigation Funding Disclosure Key To Open, Impartial Process
Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.
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The Licensure Landscape For Psychedelics Manufacturers
As the need for bulk manufacturing of psychedelic substances grows, organizations aiming to support clinical trials or become commercial suppliers must navigate a rigorous and multifaceted journey to obtaining a license from the U.S. Drug Enforcement Administration, say Kimberly Chew at Husch Blackwell and Jaime Dwight at Promega Corp.
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What NFL Draft Picks Have In Common With Lateral Law Hires
Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.
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Foreign Threat Actors Pose Novel Risks To US Tech Cos.
A recent bulletin jointly issued by several U.S. intelligence agencies warns technology startups and the venture capital community about national security risks posed by foreign threat actors, so companies interested in raising foreign capital should watch for several red flags, say Robert Friedman and Jacob Marco at Holland & Knight.
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Replacing The Stigma Of Menopause With Law Firm Support
A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.
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Planning Law Firm Content Calendars: What, When, Where
During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.
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4 Steps To Address New Sanctions Time Bar Extension
Recent guidance from the Office of Foreign Assets Control clarifies details of the newly extended statute of limitations for civil and criminal enforcement of U.S. sanctions law, so compliance teams should implement key updates, including to lookback periods and recordkeeping policies, say attorneys at Freshfields.
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Series
Playing Golf Makes Me A Better Lawyer
Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.
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Law Firms Should Move From Reactive To Proactive Marketing
Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.
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Tips For Revamping Patent Portfolio Strategy In AI Deal Era
Recent data suggests patents are significantly enhancing exit valuations, particularly with cutting-edge technologies like those powered by artificial intelligence, but it is necessary to do more than simply align patent strategy with business goals, says Keegan Caldwell at Caldwell Law.