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Mergers & Acquisitions
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February 19, 2025
Wrangler Jeans Owner Paying $900M For Helly Hansen
Kontoor Brands Inc., the owner of the Wrangler and Lee apparel brands, said Wednesday it will buy the Norwegian outdoor clothing brand Helly Hansen from Canadian Tire Corp. for $900 million.
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February 19, 2025
H&E Rentals Uses Go-Shop To Ink 'Superior' $5.3B Deal
Milbank LLP-advised H&E Rentals said Wednesday it has terminated an earlier agreement to sell the business for about $4.8 billion to United Rentals Inc. in favor of a new $5.3 billion deal with a third equipment rental company, Herc Holdings Inc.
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February 19, 2025
EV Maker Nikola Hits Bankruptcy After Battery Recall
Nikola Corp., maker of electric and hydrogen-powered trucks, filed for Chapter 11 bankruptcy protection Wednesday in Delaware, listing about $98 million of funded debt and blaming a sprawling battery pack recall for its financial troubles.
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February 18, 2025
OCC's Hood Eyes Mergers, Fintech In Agenda Preview
The Office of the Comptroller of the Currency's acting chief Rodney Hood on Tuesday pledged efforts to ease regulations for so-called community banks, previewing an agenda that includes making it easier for them to merge and explore financial technology.
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February 18, 2025
Ferguson, DOJ Keep Biden-Era Merger Guides For 'Stability'
Federal Trade Commission Chairman Andrew N. Ferguson announced Tuesday that the agency would continue, for now, to use Biden-era merger review guidelines despite them being derided by business interests because he said they are largely "a restatement" of older policies.
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February 18, 2025
Vaccine Developer Files Ch. 11 Sale Plan With $11.5M Bid
Omega Therapeutics, which develops mRNA vaccines, filed proposed bidding procedures in Delaware bankruptcy court, saying it hopes to get a sale approved by mid-April and has a stalking-horse bid in hand worth about $11.5 million.
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February 18, 2025
Ancora Says US Steel CEO May Have Made Insider Trades
Ancora Holdings Group LLC is claiming that U.S. Steel CEO David Burritt "may have engaged in insider trading" tied to the company's proposed $14.9 billion merger with Japan's Nippon Steel, and the investor said it could bring related litigation, according to documents released Tuesday.
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February 18, 2025
Trump Media Blames Rising Loss Partly On SEC Legal Bills
The owner of President Donald Trump's social media platform attributed its widening losses in part to rising legal costs from the Biden-era U.S. Securities and Exchange Commission's investigations of the merger that took the company public, according to a statement.
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February 18, 2025
Jones Day Leads Sherwin-Williams On $1.15B Brazil Paint Buy
Jones Day is guiding Cleveland-based Sherwin-Williams Co. on a new deal to buy the Brazilian architectural paints business of BASF Group, advised by Linklaters and Machado Meyer, for $1.15 billion in cash.
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February 18, 2025
Cravath, Morgan Lewis Steer $1B Charitable Gaming Biz Deal
Las Vegas-based Light & Wonder Inc. said Tuesday it has agreed to buy the charitable gaming assets of Grover Gaming for $850 million in cash, plus a four-year, revenue-based earn-out of up to $200 million cash.
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February 18, 2025
Proposed Tweaks To Del. Chancery Law Ignite DExit Firestorm
Stockholder attorneys in Delaware pushed back immediately against two state Senate measures that would amend corporation law provisions at the center of recent debate over shareholder class lawsuits, big court awards and recent corporate moves to purportedly more business-friendly states such as Texas and Nevada.
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February 18, 2025
RBI Takes Control Of Burger King China, Seeks Local Partner
Restaurant Brands International Inc. said Tuesday it has bought out two equity shareholders in Burger King China to amass nearly 100% of the business but will now search for a local partner to become Burger King China's controlling shareholder.
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February 18, 2025
3 Firms Build $1.34B New England Car Dealership Sale
Asbury Automotive Group Inc. on Tuesday unveiled plans to acquire various automotive dealerships from The Herb Chambers Cos. in a $1.34 billion deal built by three law firms.
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February 18, 2025
Diamondback Buys Midland Assets For $3B Cash Plus Stock
Kirkland & Ellis LLP-advised oil and natural gas company Diamondback Energy Inc. on Tuesday announced plans to buy Midland Basin assets from Vinson & Elkins LLP-led Double Eagle IV Midco LLC. in a cash-and-stock deal that includes a $3 billion cash payment.
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February 18, 2025
Dechert, Paul Hastings Guide Barings' Takeover Of Artemis
Barings, advised by Dechert LLP, inked an agreement to snap up Paul Hastings LLP-led Artemis Real Estate Partners, an investment firm managing over $11 billion of assets, according to a Tuesday announcement.
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February 18, 2025
Miner MMG To Buy Anglo American Unit For Up To $500M
China-backed miner MMG Ltd. said Tuesday it has agreed to buy Anglo American PLC's nickel business for up to $500 million, as the British multinational mining giant eyes a more streamlined business.
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February 18, 2025
UK Probes French Aerospace Group's Planned $1.8B Takeover
The Competition and Markets Authority said Tuesday that it has launched an investigation into the proposed acquisition by French aerospace group Safran SA of Collins Aerospace's flight-control business for $1.8 billion.
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February 18, 2025
Property Co. Assura Says £1.6B KKR Bid Undervalues Biz
The board of property manager Assura PLC said Tuesday that a £1.6 billion ($2 billion) possible offer tabled by U.S. private equity firm KKR "materially undervalued the company and its prospects."
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February 17, 2025
Anglo American Eyes June Spin-Off For Platinum Mining Unit
Anglo American PLC said Monday that it has made "significant progress" with plans to spin off its platinum subsidiary in South Africa and that it is targeting June for this to happen.
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February 17, 2025
UK Healthcare Property Biz Assura Rejects £1.6B KKR Bid
Primary care property developer Assura PLC has snubbed a £1.6 billion ($2 billion) proposed takeover approach from KKR and a U.K. pensions provider, the U.S. private equity firm said on Monday.
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February 14, 2025
FTC Political Appointees Told To Break Up With 'Leftist' ABA
Federal Trade Commission Chair Andrew N. Ferguson told agency staff in a letter that political appointees cannot hold leadership positions in the American Bar Association, attend its events or renew their memberships, citing the ABA's "leftist advocacy and its recent attacks" on the Trump administration's agenda.
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February 14, 2025
Joy Dish Soap Deal Caused $12M Loss, Manufacturer Claims
Alleging $12 million in losses, Michigan-based manufacturer N.V. Labs Inc., which does business as the Reforma Group, has sued Connecticut private equity firm Piney Lake Capital Management LP on allegations it dirtied a deal to produce Joy dish soap through a subsidiary after buying the brand from Procter & Gamble.
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February 14, 2025
'Not For Sale': OpenAI Rebuffs Musk's $97.4B Takeover Bid
The board of directors for OpenAI voted unanimously on Friday to reject a $97.4 billion offer from Elon Musk and a consortium of investors to buy the artificial intelligence platform, with the board chair saying in a statement, "OpenAI is not for sale."
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February 14, 2025
Trump Aims To End Limits On President's Power To Fire
President Donald Trump has his sights set on taking down a 90-year-old U.S. Supreme Court ruling that protects certain government officials from being fired, a U.S. Department of Justice letter confirms, and he plans to leverage his prior legal victories to deliver the precedent's death knell and expand presidential power.
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February 14, 2025
New Delisting Rules Shorten Leash For Distressed Companies
Distressed companies should take heed of new stock exchange rules that are likely to accelerate delistings for stocks that trade below minimum requirements, particularly targeting businesses that rely on reverse stock splits to inflate their share prices, attorneys say.
Expert Analysis
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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.
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Opinion
6 Changes I Would Make If I Ran A Law School
Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.
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Predictions For Trump Antitrust Enforcement Of Life Sciences
Key life sciences antitrust issues of the past two administrations may indicate the direction of enforcement during President-elect Donald Trump's second term, including in areas such as drug prices, killer acquisitions and merger remedies, say attorneys at Ropes & Gray.
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Firms Still Have The Edge In Lateral Hiring, But Buyer Beware
Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.
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Preparing For The New Restrictions On Investment Into China
In light of a new regulatory program governing U.S. investments in China-related technology companies of national security concern, investors should keep several considerations in mind, including the rules' effect on existing and new investments, compliance hurdles, and penalties for noncompliance ahead of the rules' January implementation, say attorneys at Gunderson Dettmer.
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Lights, Camera, Real Estate: Preparing For Film Facility M&A
As the entertainment industry struggles to recover from multiple strikes and a decline in production, certain aspects of selling or acquiring production facilities may become important to consider, as these assets are valued very differently from typical commercial real estate properties, say attorneys at Olshan Frome.
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Think Like A Lawyer: 1 Type Of Case Complexity Stands Out
In contrast to some cases that appear complex due to voluminous evidence or esoteric subject matter, a different kind of complexity involves tangled legal and factual questions, each with a range of possible outcomes, which require a “sliding scale” approach instead of syllogistic reasoning, says Luke Andrews at Poole Huffman.
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Back To The Future? Antitrust Enforcement Under Trump 2.0
While the transition to the second Trump administration's antitrust policy should be accompanied by less uncertainty, we're unlikely to get a full sense of the true focus and tenor of competition enforcement under Trump 2.0 before late next year, say attorneys at Simpson Thacher.
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Think Like A Lawyer: Note 3 Simple Types Of Legal Complexity
Cases can appear complex for several reasons — due to the number of issues, the volume of factual and evidentiary sources, and the sophistication of those sources — but the same basic technique can help lawyers tame their arguments into a simple and persuasive message, says Luke Andrews at Poole Huffman.