Mergers & Acquisitions

  • May 23, 2024

    Billionaire Xavier Niel Mulling Potential $4.1B Millicom Buyout

    French billionaire Xavier Niel's Atlas Investissement confirmed Thursday that it is exploring a potential all cash tender offer for Luxembourgish telecommunications provider Millicom International Cellular SA. 

  • May 23, 2024

    DOJ Sues Live Nation 14 Years After Ticketmaster Deal

    The U.S. Department of Justice sued Live Nation Thursday over the 2010 agreement clearing the concert promotion giant's purchase of Ticketmaster, an oft-maligned deal that enforcers now want to unwind and that is blamed for fiascoes like the meltdown of ticket sales for Taylor Swift's Eras tour.

  • May 23, 2024

    Linklaters Leads Tate & Lyle To Exit US JV For $350M

    Food producer Tate & Lyle said Thursday that it has agreed to sell its remaining stake in its ingredients business in the Americas to U.S. investment firm KPS Capital Partners for $350 million in a deal guided by Linklaters LLP.

  • May 23, 2024

    Hargreaves Lansdown Snubs £4.7B Bid From CVC, Abu Dhabi

    The board of Hargreaves Lansdown said Thursday that it has rejected a proposed £4.7 billion ($6 billion) takeover offer from a consortium of private equity companies, including CVC and the sovereign wealth fund of Abu Dhabi.

  • May 22, 2024

    Founders Of BP's Archaea Looted From Own Co., Suit Says

    A group of fraternity brothers who founded waste management company Noble Environmental Inc. and later sold a venture called Archaea Energy to BP has been hit with a shareholder derivative suit in Delaware Chancery Court alleging the fraternity brothers stole billions of dollars from the company and breached their fiduciary duties to minority shareholders.

  • May 22, 2024

    Investors Say FIS Must Investigate Derivative Suit's Claims

    An investor of fintech corporation Fidelity National Information Services has pushed back on the company and its executives' bid to escape a derivative lawsuit over a $46 billion market cap drop resulting from a business spinoff, saying the company must investigate the suit's allegations.

  • May 22, 2024

    Del. Justices Reverse BitGo-Galaxy Merger Suit Dismissal

    Delaware's Supreme Court on Wednesday reversed the dismissal of a lawsuit that cryptocurrency wallet provider BitGo Holding Inc. filed against digital assets firm Galaxy Digital Holdings Inc., remanding the dispute over their broken $1.2 billion merger back to Chancery Court to resolve multiple "ambiguities."

  • May 22, 2024

    Doc Gets 3 Mos. For Alexion Trades Despite 'Meaningful Job'

    A doctor was sentenced to three months in prison Wednesday for insider trading on an Alexion Pharmaceuticals acquisition, with a Manhattan federal judge saying the defendant's treatment of critically ill, underserved kidney disease patients does not amount to a "get out of jail free card."

  • May 22, 2024

    Cleaning Products Maker Supply Source Files For Ch. 11

    Cleaning products company Supply Source Enterprises has told a Delaware bankruptcy court that it is seeking a sale in Chapter 11 to deal with $180 million in debt after overestimating the post-pandemic market for cleaning products.

  • May 22, 2024

    Oaktree Assumes Inter Milan Ownership After Missed Payment

    Oaktree Capital Management LP has taken over ownership of FC Internazionale Milano after the soccer club failed to fully repay a three-year loan from Oaktree that matured this month, leaving a balance of €395m ($428.4 million).

  • May 22, 2024

    Chancery Keeps RedBird-Brookfield Dispute Stay In Place

    A Delaware vice chancellor declined Wednesday to rule from the bench on a preliminary injunction sought by Redbird Capital Partners in a dispute over a Brookfield Infrastructure Partners claim for a $150 million escrow included in its $5.7 billion purchase of RedBird data center projects last year.

  • May 22, 2024

    BofA Deserves Tax Refunds On Merger Interest, 4th Circ. Told

    The IRS should not have been allowed to keep the interest paid on 23 years' worth of tax underpayments by seven companies that merged into Bank of America, the company told the Fourth Circuit, arguing that the underpayments should be offset by overpayments under merger law.

  • May 22, 2024

    Anglo American Rejects Latest £38.6B BHP Offer

    British miner Anglo American said Wednesday that it has rejected a third, £38.6 billion ($49.1 billion) proposed takeover from BHP Group Ltd., but has extended the offer deadline to allow the Australian rival more time to put in another bid.

  • May 22, 2024

    Covington Reps As Biogen Makes $1.8B Bet On HI-Bio

    Biogen Inc. said Wednesday it has agreed to purchase Human Immunology Biosciences, or HI-Bio, a San Francisco-based biotechnology company working on targeted therapies for severe autoimmune diseases, in a deal that could see Biogen pay up to $1.8 billion.

  • May 22, 2024

    Greenberg-Led SPAC To Buy Safety Biz For $1.85B, Quit LSE

    Admiral said on Wednesday that it has agreed to buy industry safety company Acuren for $1.85 billion, as the blank-check business seeks a slice of the growing and resilient infrastructure inspection sector.

  • May 21, 2024

    Feds Can't Show Autonomy Jury Report Showing Audit Issues

    The California federal judge overseeing a criminal trial over claims Autonomy's former CEO conned HP into buying the U.K. company for $11.7 billion denied prosecutors' bid Tuesday to show jurors a British accounting watchdog's findings that Deloitte failed to catch misleading information in Autonomy's books.

  • May 21, 2024

    Red Lobster Gets OK To Tap $40M Ch. 11 Loan

    A Florida bankruptcy judge Tuesday gave seafood chain Red Lobster interim permission to draw on $40 million in Chapter 11 financing the company says is necessary to keep its restaurants running while it seeks a sale.

  • May 21, 2024

    SEC Gives Ex-BF Borgers Clients Reporting Deadline Reprieve

    The U.S. Securities and Exchange Commission says it will give former clients of suspended auditor BF Borgers CPA PC more time to file their first-quarter financial statements in acknowledgment of issuers' need to scramble to find new accountants after the agency unveiled an enforcement action over the alleged "massive fraud" at the firm earlier this month.

  • May 21, 2024

    FTC Chair Khan Says Corporate Concentration Creates Fear

    Federal Trade Commission Chair Lina Khan said Tuesday that corporate concentration creates fear for many Americans, including small businesses that rely on digital gatekeepers like Google and Amazon.

  • May 21, 2024

    SPAC Investor's Suit Changes Came Too Late, Chancery Rules

    A shareholder of a special-purpose acquisition company that merged with a now-defunct medical technology company in 2021 waited too long to amend his year-old proposed class action and must defend the case against a motion to dismiss in June, Delaware's Court of Chancery said Tuesday.

  • May 21, 2024

    4th Circ. Told Justices' Ruling Dooms Bid To Delay $811M Fine

    The Consumer Financial Protection Bureau has pointed to the U.S. Supreme Court's recent decision finding the agency's funding structure constitutional to head off a bid by immigrant bond companies accused of abusive bonding practices to delay an $811 million judgment.

  • May 21, 2024

    Data Breach Co. CyEx Acquires Legal Administrator Simpluris

    CyEx, a supplier of data breach solutions, announced Monday the acquisition of class action settlement administrator Simpluris Inc.

  • May 21, 2024

    US Steel And Cleveland-Cliffs Spar Over Merits Of Nippon Deal

    U.S. Steel sought to "correct the record" regarding its planned $14.9 billion sale to Nippon Steel on Tuesday, highlighting its continued faith in the deal while blasting what it called a "misinformation campaign" from rival Cleveland-Cliffs.

  • May 21, 2024

    Carlyle Wraps 5th Japanese Buyout Fund With $2.8B In Capital

    Private equity giant Carlyle, represented by Kirkland & Ellis, announced Tuesday that it clinched its fifth Japanese buyout fund after securing 430 billion yen ($2.8 billion) from investors.

  • May 21, 2024

    Strategic Hiring Was The New Normal For BigLaw In 2023

    The 400 largest law firms by headcount in the U.S. grew more slowly in 2023 than in the previous two years, while Kirkland & Ellis LLP surpassed the 3,000-attorney threshold, according to the latest Law360 ranking.

Expert Analysis

  • Series

    Conn. Banking Brief: The Notable Compliance Updates In Q3

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    The most notable legal changes affecting Connecticut financial institutions in the third quarter of 2023 included increased regulatory protections for consumers, an expansion of state financial assistance for underserved communities, and a panoply of tweaks to existing laws, says Brian Rich at Barclay Damon.

  • Opinion

    Judicial Independence Needs Defense Amid Political Threats

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    Amid recent and historic challenges to the judiciary from political forces, safeguarding judicial independence and maintaining the integrity of the legal system is increasingly urgent, says Robert Peck at the Center for Constitutional Litigation.

  • How Law Firms Can Use Account-Based Marketing Strategies

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    Amid several evolving legal industry trends, account-based marketing can help law firms uncover additional revenue-generating opportunities with existing clients, with key considerations ranging from data analytics to relationship building, say Jennifer Ramsey at stage LLC and consultant Gina Sponzilli.

  • Strategic Succession Planning At Law Firms Is Crucial

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    Senior partners' reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior ranks and provide clearer leadership pathways to junior attorneys, says Laura Leopard at Leopard Solutions.

  • The Impact Of Proposed HSR Form Changes On Agency Staff

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    The Federal Trade Commission's recent proposed changes to the Hart-Scott-Rodino Notification and Report Form will have the unintended effect of drastically increasing the burden on agency staff without an appreciable increase in their ability to detect potentially anti-competitive transactions, say Amanda Wait and Andrew Eklund at Norton Rose.

  • FTC's Health Co. Suit Indicates Agency's Private Equity Focus

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    The Federal Trade Commission's latest lawsuit against an anesthesia company and its private equity investor highlights the agency's willingness to regulate the health care industry even when relevant acquisitions are relatively dated or when the controlling entity's economic interest is under 50%, say attorneys at Simpson Thacher.

  • Top 4 Antitrust Enforcement Issues In Health Care Today

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    The Federal Trade Commission's recent lawsuit against U.S. Anesthesia Partners exemplifies antitrust enforcement authorities' efforts to aggressively reshape the health care industry, ranging from new proposed rules to withdrawals of previous guidance, say attorneys at Fried Frank.

  • Maximizing Law Firm Profitability In Uncertain Times

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    As threats of an economic downturn loom, firms can boost profits by embracing the power of bottom-line management and creating an ecosystem where strategic financial oversight and robust timekeeping practices meet evolved client relations, says Shireen Hilal at Maior Strategic Consulting.

  • OECD Gender Inclusive Toolkit May Inform Competition Policy

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    A toolkit recently released by the Organization for Economic Cooperation and Development offers a potential framework for guiding competition regulators and practitioners to better understand how market dynamics affect different gender groups, and could potentially be applied to other demographic lenses as well, say analysts at Analysis Group.

  • Alleged $636M Deal Error Highlights Ethics Considerations

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    Adelman v. Proskauer, a malpractice suit that allegedly arose from a cut-and-paste error resulting in potential damages of $636 million, presents an intriguing juxtaposition of facts and legal issues — and practical ethical considerations for transactions attorneys, says Richard Leisner at Trenam Law.

  • Tech M&A Due Diligence Checklist: Sector-Specific Concerns

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    In an increasingly dynamic technology merger and acquisition landscape, there are seven high-impact diligence concerns that must be addressed early and with precision, say attorneys at Gibson Dunn.

  • 5 DOJ Enforcement Priorities To Note From Recent Remarks

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    Principal Associate Deputy Attorney General Marshall Miller’s recent speech provided a glimpse into the U.S. Department of Justice’s corporate criminal enforcement priorities — from national security concerns to mergers and acquisitions — with takeaways for companies’ compliance programs, say Joseph Jay and Jennifer Le at Sheppard Mullin.

  • 5th Circ. Ruling Reminds Attys That CBP Can Search Devices

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    The Fifth Circuit’s recent Malik v. Department of Homeland Security decision adds to the chorus of federal courts holding that border agents don’t need a warrant to search travelers’ electronic devices, so attorneys should consider certain special precautions to secure privileged information when reentering the U.S., says Jennifer Freel at Jackson Walker.

  • Alleged $636M Deal Error Shows Value Of Old-School Methods

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    Though Proskauer Rose has now settled claims involving a copy-paste error in deal documents that could have resulted in $636 million in damages, the debacle reminds attorneys that classic revision methods using paper copies can help avoid drafting errors and actually save time in the long run, says Richard Leisner at Trenam.

  • How Gov't Agencies Will Fare In The Event Of A Shutdown

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    With a federal shutdown potentially set to begin at the end of this month, it may be useful to consider the approximate timelines that agencies such as the Federal Trade Commission and IRS have announced for curtailing operations, and potential strategies for mitigating challenges that may arise while agency functions are limited, say attorneys at Cleary.

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