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Mergers & Acquisitions
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February 13, 2025
Nissan-Honda Merger Talks End After Honda Pivots On Terms
Nissan and Honda said Thursday they are terminating merger discussions that could have created a global car-making powerhouse, with Nissan disclosing that the talks were ceased after Honda proposed an alternative structure that would have made Honda the parent.
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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.
Expert Analysis
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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.
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Opinion
Judicial Committee Best Venue For Litigation Funding Rules
The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.
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The Strategic Advantages Of Appointing A Law Firm CEO
The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.
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Inside FTC's Decision To Exit Key Merger Review Labor Memo
Despite the Federal Trade Commission's recent withdrawal from a multiagency memorandum of understanding to step up enforcement of labor issues in merger investigations, the antitrust agencies aren't likely to give up their labor market focus, say attorneys at Stinson.
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Comments Show Need For Clarity On SBA Proposed Rule
The recent public comments period for the Small Business Administration's proposed rule on recertification and other regulations underscores the need for more precision, particularly on agreements in principle, which the SBA should address as it moves forward with this rulemaking, say attorneys at Covington.
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Series
Beekeeping Makes Me A Better Lawyer
The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.
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Election Unlikely To Overhaul Antitrust Enforcers' Labor Focus
Although the outcome of the presidential election may alter the course of antitrust enforcement in certain areas of the economy, scrutiny of labor markets by the Federal Trade Commission and the U.S. Department of Justice is likely to remain largely unaffected — with one notable exception, say Jared Nagley and Joy Siu at Sheppard Mullin.
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Opinion
Legal Institutions Must Warn Against Phony Election Suits
With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.
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How Cos. Can Build A Strong In-House Pro Bono Program
During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.
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Bristol-Myers Win Offers Lessons For Debt Security Holders
A New York federal judge's recent dismissal of a $6.4 billion lawsuit against Bristol-Myers Squibb, due to plaintiff UMB Bank's lack of standing, serves as an important reminder to debt security holders to obtain depositary proxies before pursuing litigation, say attorneys at Milbank.
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Series
Home Canning Makes Me A Better Lawyer
Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.