Mergers & Acquisitions

  • June 18, 2024

    STG Partners' Bid For Gresham Wins Regulatory Approvals

    Gresham Technologies PLC said Tuesday that an attempt by U.S. private equity firm STG Partners LLC to buy the U.K.-based software business for £146.7 million ($186 million) has received a boost by gaining regulatory clearances.

  • June 18, 2024

    US Power-Supply Toolmaker Pulls £571M Bid For Rival

    Advanced Energy Industries Inc. said on Tuesday that it will not make a £571 million ($724 million) offer for XP Power Ltd. of Singapore, after its rival power supplies maker rejected its approach.

  • June 17, 2024

    Milbank Snags FTC Competition Trial Chief For DC Office

    Milbank LLP announced Monday it has hired the chief trial counsel for the Federal Trade Commission's Bureau of Competition, bulking up its Washington, D.C., antitrust and competition practice with a veteran litigator who led the government's challenge to Microsoft Corp.'s $69 billion acquisition of Activision Blizzard.

  • June 17, 2024

    Primo Water, BlueTriton All-Stock Merger Creates Water Giant

    Primo Water Corp., the parent company of popular water brands such as Alhambra and Crystal Springs, on Monday announced plans to merge with the parent company of water brands Poland Spring and Arrowhead, BlueTriton Brands Inc., in an all-stock deal built by five law firms that is meant to create a North American water giant.

  • June 17, 2024

    FTC Says Hospital Won't Fail Without Novant Buyout

    The Federal Trade Commission is pushing back against claims that North Carolina's Lake Norman Regional Medical Center will fail if the agency halts its acquisition by Novant Health, telling the Fourth Circuit that the hospital is, in fact, profitable and stable.

  • June 17, 2024

    Ares, Searchlight-Led Group Plugs £500M Into RSK Group

    British sustainability company RSK Group Ltd., advised by Travers Smith LLP, on Monday announced that it is set to receive a £500 million ($634.5 million) preferred equity investment from a group led by private equity firms Willkie Farr & Gallagher LLP-led Searchlight Capital Partners LP and Dechert LLP-led Ares Management Corp., which will be used to fund growth initiatives.

  • June 17, 2024

    Hertz Warrant Holder Sues In Chancery For Contract Breach

    Two investment affiliates of Discovery Capital Management LP have sued Hertz Global Holdings Inc. in Delaware's Court of Chancery, alleging willful failure to redeem warrants issued in 2021 as part of the company's Chapter 11 and demanding at least $187 million plus interest.

  • June 17, 2024

    Catching Up With Delaware's Chancery Court

    Proposed amendments to Delaware's General Corporation Law that were prompted by several recent Chancery Court rulings sailed through the state Senate last week despite loud opposition from corporate law professors and other Chancery Court watchers, and Tesla shareholders filed two new suits against CEO Elon Musk. 

  • June 17, 2024

    King & Spalding Repping IQVentures On $504M Aaron's Buy

    King & Spalding LLP-repped IQVentures Holdings has agreed to purchase Atlanta-based lease-to-own provider The Aaron's Co. Inc., represented by Jones Day, at an enterprise value of about $504 million, Aaron's said in a Monday statement.

  • June 14, 2024

    'Cockamamie' Live Nation Arbitration Rules Perplex 9th Circ.

    An attorney for Live Nation Entertainment Inc. argued to skeptical Ninth Circuit judges on Friday that a California district judge was wrong to remove ticket buyers' antitrust class claims from arbitration by finding the arbitration agreements unconscionable, with one judge calling the language in the agreements "drafting malpractice," "cockamamie" and "just nuts."

  • June 14, 2024

    Publishing Exec's Family Says Ohio Law Allowed His Ouster

    The board of an Ohio-based media company have said state law empowered them to oust former CEO Allan Block from his family's namesake company and urged an Ohio state court to dismiss the suit he brought over the potential sale of the company that publishes newspapers in Toledo and Pittsburgh.

  • June 14, 2024

    BP Unit Slapped With $300M Franchise Termination Suit

    A trio of entities controlled by two self-proclaimed franchise veterans filed suit in Ohio federal court against a travel center operator acquired by BP in 2023, alleging the company terminated a franchise agreement without warning and caused at least $300 million in damages.

  • June 14, 2024

    France Offers $750M For Atos' Cyber, Data Assets

    Information technology firm Atos SE said Friday that it has received a nonbinding offer from the French government to buy certain big data and cybersecurity operations at an enterprise value of €700 million ($750 million).

  • June 14, 2024

    Novant Urges 4th Circ. To Reject FTC's 'Emergency' Bid

    Novant Health told the Fourth Circuit there is no need to block its planned North Carolina hospital purchase while the Federal Trade Commission pushes a merger challenge, saying the deal will increase competition by preventing the hospitals from closing.

  • June 14, 2024

    Off The Bench: Ex-Players Claim NIL, Loss For Trans Swimmer

    In this week's Off The Bench, the 1983 men's college basketball champions want a piece of the loot the NCAA made off of their names, swimmer Lia Thomas loses in her bid to overturn an international trans athlete ban, and the House gets a bill through committee that would keep college athletes from becoming employees.

  • June 14, 2024

    NC AG Wants Counterclaims Canned In Hospital Contract Suit

    North Carolina's attorney general has sought to dodge counterclaims in a suit accusing a for-profit health network of reneging on promises it made when it bought an Asheville hospital, saying he should be immune and the claims are otherwise redundant.

  • June 14, 2024

    Japan's Kirin Plans $1.4B Fancl Purchase Amid Health Kick

    Kirin Holdings Co. said Friday that it plans to buy the remaining shares it doesn't own in Fancl Corp. for about $1.4 billion, part of the Japanese beverage giant's continued push into the consumer health sector.

  • June 14, 2024

    All The World's A Stage For Tony-Nominated Dechert Co-Chair

    Mark Thierfelder is not only a Dechert LLP co-chair and partner; he’s also a Tony-nominated Broadway producer up for an award this June 16. Here, Law360 Pulse talks to Thierfelder on how he balances his legal work with his creative pursuits.

  • June 14, 2024

    Malaysian Oil Biz Hibiscus Buys TotalEnergies Unit For $259M

    Kuala Lumpur-based oil and gas producer Hibiscus Petroleum Berhad said it has agreed to buy a Brunei subsidiary of France's TotalEnergie for $259 million, advised by Malaysian law firm Murad Yee Partnership.

  • June 14, 2024

    EQT Extends £2B Offer Deadline For Video Gaming Biz

    Keywords Studios said Friday that Swiss private equity firm EQT has been granted extra time to make a £2 billion ($2.5 billion) offer after the Irish gaming services group indicated that it could back the deal.

  • June 13, 2024

    FTC's Ferguson Says He's A Law Enforcer, Not A Policymaker

    Recently minted Federal Trade Commissioner Andrew Ferguson said Thursday that he views his new role as a law enforcer and not a policymaker and said the biggest issue for antitrust law right now is dealing with Big Tech.

  • June 13, 2024

    9th Circ. Doubts SPAC Investors Can Sue Lucid Over Merger

    A Ninth Circuit panel appeared skeptical Thursday of investors' bid to revive a 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, with two of three judges doubting that the SPAC investors have standing to sue.

  • June 13, 2024

    Express Picks Stalking Horse Bidder As Ch. 11 Buyer

    A stalking horse bidder offering $136 million in cash for the assets of clothing retailer Express Inc. will be the buyer in the debtor's competitive sale process, after its offer was deemed to be the only qualified bid to acquire the assets as a going-concern.

  • June 13, 2024

    Immigrant Bond Co. Says Sale Complied With $811M Order

    An immigrant bond company staring down an $811 million judgment for predatory lending practices is urging a Virginia federal court not to sanction it over its recent sale, saying the transaction complied with the judgment's restrictions on its operations.

  • June 13, 2024

    Blackstone's $10B AIR Buy Gets Nod From Top 2 Proxy Firms

    Denver-based Apartment Income REIT Corp.'s shareholders have recommendations from the two leading proxy advisory firms to approve an agreement to sell off the real estate investment trust to private equity giant Blackstone for $10 billion, the company announced June 13. 

Expert Analysis

  • Attorneys' Busiest Times Can Be Business Opportunities

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    Attorneys who resolve to grow their revenue and client base in 2024 should be careful not to abandon their goals when they get too busy with client work, because these periods of zero bandwidth can actually be a catalyst for future growth, says Amy Drysdale at Alchemy Consulting.

  • In The World Of Legal Ethics, 10 Trends To Note From 2023

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    Lucian Pera at Adams and Reese and Trisha Rich at Holland & Knight identify the top legal ethics trends from 2023 — including issues related to hot documents, artificial intelligence and cybersecurity — that lawyers should be aware of to put their best foot forward.

  • Del. Dispatch: The 2023 Corporate Cases You Need To Know

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    Corporate and mergers and acquisitions litigation has continued at a fevered pace this year, with the Delaware courts addressing numerous novel issues with important practical implications, including officer exculpation and buyer aiding-and-abetting liability, say attorneys at Fried Frank.

  • How Attorneys Can Be More Efficient This Holiday Season

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    Attorneys should consider a few key tips to speed up their work during the holidays so they can join the festivities — from streamlining the document review process to creating similar folder structures, says Bennett Rawicki at Hilgers Graben.

  • Exploring Middle-Market M&A Trends In 2023 And Beyond

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    Middle-market merger and acquisition activity this year was affected by a number of economic, legal and regulatory shifts, with certain trends pointing to favorable transaction conditions in 2024, say Jason Brauser and William Goodling at Stoel Rives.

  • Understanding Advance Notice Bylaws Is Key For All Parties

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    Recent developments in Delaware case law show that advance notice bylaws will be strictly construed and that Delaware courts will generally uphold clear, unambiguous bylaws adopted and applied reasonably, a lesson for both companies and stockholders alike as the number of companies rejecting director nominations by dissident stockholders has increased, say attorneys at MoFo.

  • A Former Bankruptcy Judge Talks 2023 High Court Rulings

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    In 2023, the U.S. Supreme Court issued four bankruptcy law opinions — an extraordinary number — and a close look at these cases signals that changes to the U.S. Bankruptcy Code will have to come from Congress, not the courts, says Phillip Shefferly at the University of Michigan Law School.

  • Series

    Children's Book Writing Makes Me A Better Lawyer

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    Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.

  • A Review Of 2023's Most Notable Securities Litigation

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    There is much to be learned from the most prominent private securities cases of 2023, specifically the Tesla trial, the U.S. Supreme Court's Slack decision and the resolution of Goldman Sachs litigation, but one lesson running through all of them is that there can be rewards at the end of the line for defendants willing to go the distance, say attorneys at Fried Frank.

  • 4 Key Ways CFIUS Affected Private Equity In 2023

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    Sponsors and investment professionals should note how escalated enforcement by the Committee on Foreign Investment in the United States in 2023 affected private equity deal making and evaluate their CFIUS-related procedures in preparation for the regulator's reach to expand further next year, say attorneys at Kirkland.

  • How Clients May Use AI To Monitor Attorneys

    Excerpt from Practical Guidance
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    Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.

  • UK Takeover Code Changes: Key Points For Bidders, Targets

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    Newly effective amendments to Rule 21 of the U.K. Takeover Code, which remove legal and administrative constraints on a target operating its business in the ordinary way during an offer, will add clarity for targets and bidders, and are likely to be welcomed by both, say lawyers at Davis Polk.

  • 7 Enforcement Predictions For US Export Controls, Sanctions

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    Federal agencies' assertions of coming increases in export-control and sanctions-violations enforcement are not new, but recent improvements in resources and inter-agency cooperation allow for certain predictions about how the administration’s latest approach to enforcement may be applied going forward, say attorneys at Akin.

  • 8 Ways To Negotiate Improved Disgorgement Outcomes

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    The U.S. Securities and Exchange Commission's nearly $3.4 billion collected in disgorgements in 2023 shows that substantial disgorgement claims from regulators and law enforcement are the new norm, but corporations may be able to dramatically reduce what they owe by using eight strategies to argue for reduced net profit calculations, say experts at AlixPartners.

  • Series

    The Pop Culture Docket: Judge D'Emic On Moby Grape

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    The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.

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