Mergers & Acquisitions

  • February 11, 2025

    Bain Scraps Fuji Soft Tender Offer In Bid War With KKR

    Bain Capital said Tuesday that it may withdraw its plans to buy a majority stake in Fuji Soft after rival bidder KKR raised its own offer to take control of the Japanese information technology firm. 

  • February 11, 2025

    FTC Chair Commits To 'Long Overdue' Merger Filing Revisions

    The Federal Trade Commission's new Republican Chair, Andrew N. Ferguson, offered an enthusiastic welcome Monday to last fall's dramatic overhaul of merger filing requirements that antitrust practitioners expect will significantly increase upfront burdens, but that Ferguson said will ultimately lower costs for companies and enforcers.

  • February 11, 2025

    Activist Elliott Targets Phillips 66 Again Over Lack Of Progress

    Activist investor Elliott Investment Management LP on Tuesday sent a letter to the board of directors of energy conglomerate Phillips 66 calling for "urgent changes" to improve operating performance and regain shareholder trust, saying "another year of empty rhetoric and broken promises is unacceptable."

  • February 11, 2025

    HPE Says Juniper Deal Is Needed To Compete With Top Players

    Hewlett Packard said it was blindsided by the U.S. Department of Justice's move to block its $14 billion purchase of Juniper Networks, saying in a new filing that the Antitrust Division lawsuit brought last month will only benefit the biggest player in the market, Cisco, and Chinese competitor Huawei.

  • February 11, 2025

    TD Bank To Sell Schwab Stake In Roughly $13.1B Offering

    TD Bank Group on Tuesday announced the terms of the sale of its entire equity investment in the financial services giant Charles Schwab Corp., detailing its plan to sell its 10.1% ownership stake in a $13.1 billion deal.

  • February 11, 2025

    Nelson Mullins Adds Litigation, Biz Pros In Houston

    Nelson Mullins Riley & Scarborough LLP has bolstered its corporate and litigation offerings with new partners in Houston who came aboard from Jackson Walker LLP and Paul Hastings LLP and who bring unique international experience.

  • February 11, 2025

    Novartis To Buy US Pharma Biz Anthos For Up To $3.1B

    Novartis AG said Tuesday that it plans to buy Anthos Therapeutics Inc. for up to $3.1 billion, allowing the Swiss pharmaceutical heavyweight to return a drug that originated at the company back into its portfolio of cardiovascular therapies.

  • February 10, 2025

    NY Funds Say Paramount 'Bound' To Mull $13.5B Sale Option

    Five big New York public pension funds argued in a newly unsealed Delaware court filing on Monday that a Paramount special committee breached its fiduciary duties by neglecting a $13.5 billion company sale offer and called for a Court of Chancery order compelling evaluation of the deal.

  • February 10, 2025

    Gov't Defends Approval Of CP-KCS Rail Merger To DC Circ.

    The federal government told the D.C. Circuit a coalition of Illinois towns is challenging the approval of Canadian Pacific Railway Ltd.'s $31 billion merger with Kansas City Southern Railway Co. over the deal's potential effect on just 23 miles of a combined rail network that spans more than 20,000 miles.

  • February 10, 2025

    QXO Rips Roofing Co. For Misleading Investors On $11B Offer

    QXO Inc. accused Beacon Roofing Supply Inc.'s board of directors on Monday of "cherry-picking" and manipulating performance metrics in statements urging shareholders to reject an $11 billion hostile takeover bid, adding that its offer is compelling, especially given the lack of competing proposals.

  • February 10, 2025

    UnitedHealth Says Fed Suit Imperils Deal's Many Benefits

    UnitedHealth Group and home health and hospice giant Amedisys Inc. responded to the U.S. Department of Justice's merger challenge Friday by telling a Maryland federal judge that the government is taking quotes out of context, focusing on "artificially narrow geographic markets" and misjudging market realities.

  • February 10, 2025

    Elon Musk-Led Group Makes $97.4B OpenAI Takeover Bid

    A consortium of investors led by Elon Musk said Monday it has offered to pay $97.375 billion to buy artifical intelligence platform OpenAI, drawing a quick and snarky rejection from Sam Altman, who co-founded the platform with Musk. 

  • February 10, 2025

    Lexitas Selling Registered Agent Unit To Dutch Co. For $415M

    Austin, Texas-based legal services provider Lexitas said Monday that it has agreed to sell its Registered Agent Solutions Inc. unit to Dutch information services company Wolters Kluwer Financial & Corporate Compliance for approximately $415 million in cash.

  • February 10, 2025

    Investor Urges US Steel To Dump Deal After Trump Comments

    Activist investor Ancora Holdings Group on Monday urged U.S. Steel to abandon its proposed $14.9 billion merger with Japan's Nippon Steel, stating that the deal has "no chance of being resurrected" in light of statements made by President Donald Trump on Friday.

  • February 10, 2025

    Latham, Hogan Lovells Advise Hyatt's $2.6B Playa Hotels Buy

    Latham & Watkins LLP guided Hyatt Hotels Corp. on a $2.6 billion acquisition announced Monday of Playa Hotels & Resorts NV — which operates resorts in Mexico, the Dominican Republic and Jamaica — and worked with Hogan Lovells on the deal.

  • February 10, 2025

    Emerson Butts Heads With Elliott On $7.2B AspenTech Deal

    Global technology company Emerson said Monday that its $7.2 billion offer to buy the remaining shares in AspenTech that it does not already own represents "compelling and certain value" for shareholders, pushing back after activist investment firm Elliott ripped the bid as an undervaluation.

  • February 10, 2025

    Direct Line Directors Back £3.7B Aviva Acquisition Deal

    The directors of Direct Line Insurance Group PLC said Monday that they unanimously recommend that shareholders back the £3.7 billion ($4.6 million) cash and stock takeover offer tabled by Aviva.

  • February 07, 2025

    Chancery Tosses $3.4B Hertz Stock Warrant Redemption Suit

    Delaware's Court of Chancery dismissed a suit Friday filed by two Hertz institutional investors accusing the company of relying on an impermissible reinterpretation of a warrant agreement to reject a redemption demand purportedly triggered by the company's post-Chapter 11 recapitalization, finding the plaintiffs' interpretation of the agreement leads to "absurd results."

  • February 07, 2025

    Nippon-US Steel Merger Targeted By Consumers In Calif.

    A group of consumers has asked a California federal court to prohibit Japan's Nippon Steel Corp. from acquiring U.S. Steel Corp. in their proposed $14.9 billion mega-merger, filing suit just days before President Donald Trump suggested that the deal was being called off.

  • February 07, 2025

    SPAC Market Hums Again Following Multiyear Downturn

    Special purpose acquisition companies are once again asserting their presence in the capital markets and M&A landscape, forming new vehicles at the highest pace in three years — albeit in leaner form than in the last cycle, when many deals ended in busts.

  • February 07, 2025

    Ousted CMA Chair Says 'Misinformation' Remains A Challenge

    The recently ousted chair of the U.K.'s Competition and Markets Authority reflected on what he said were great strides undoing the antitrust agency's "technocratic" character, but added it made the least progress in combating "lobbying and misinformation" intended to undermine the agency's decisions, including around the cleared Microsoft-Activision merger.

  • February 07, 2025

    SolarWinds Accepts $4.4B Sale To PE Firm Turn/River Capital

    SolarWinds said Friday it has agreed to be sold to Turn/River Capital for $4.4 billion, marking a notable turnaround for a company that came back from a consequential 2020 data breach to become what its CEO told Law360 is now "one of the most secure software companies."

  • February 07, 2025

    Appellate Court OKs Trim Of Goldman Family Portfolio Battle

    A New York state appellate court affirmed a trial court's toss of several claims brought against the late Sol Goldman's real estate empire by inheritors who allege his daughter squeezed them out of the family business and manipulated an appraisal when they sought to cash out on their stake.

  • February 07, 2025

    Conn. Trial Firm Partner Seeks Sanctions In Heated Split-Up

    Connecticut Trial Firm LLC former co-owner Andrew Garza has asked a Connecticut Superior Court judge to issue sanctions against his former 50-50 partner, Ryan McKeen, accusing McKeen of "misconduct presenting a threat to the administration of justice" in heated litigation over the firm's split.

  • February 07, 2025

    Activist Elliott Takes Aim At $7.2B AspenTech-Emerson Deal

    Activist investment firm Elliott Investment Management said Friday it has amassed a more than $1.5 billion stake in Aspen Technology, stating that AspenTech's plan to sell off its remaining shares for $7.2 billion to global technology company Emerson undervalues the business.

Expert Analysis

  • How Law Firms Can Avoid 'Collaboration Drag'

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    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.

  • Opinion

    Litigation Funding Disclosure Key To Open, Impartial Process

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    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.

  • The Licensure Landscape For Psychedelics Manufacturers

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    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.

  • What NFL Draft Picks Have In Common With Lateral Law Hires

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    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.

  • Foreign Threat Actors Pose Novel Risks To US Tech Cos.

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    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.

  • Replacing The Stigma Of Menopause With Law Firm Support

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    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.

  • Planning Law Firm Content Calendars: What, When, Where

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    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.

  • 4 Steps To Address New Sanctions Time Bar Extension

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    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.

  • Series

    Playing Golf Makes Me A Better Lawyer

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    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.

  • Law Firms Should Move From Reactive To Proactive Marketing

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    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.

  • Tips For Revamping Patent Portfolio Strategy In AI Deal Era

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    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.

  • Opinion

    The Big Issues A BigLaw Associates' Union Could Address

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    A BigLaw associates’ union could address a number of issues that have the potential to meaningfully improve working conditions, diversity and attorney well-being — from restructured billable hour requirements to origination credit allocation, return-to-office mandates and more, says Tara Rhoades at The Sanity Plea.

  • Opinion

    It's Time For A BigLaw Associates' Union

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    As BigLaw faces a steady stream of criticism about its employment policies and practices, an associates union could effect real change — and it could start with law students organizing around opposition to recent recruiting trends, says Tara Rhoades at The Sanity Plea.

  • How Justices Upended The Administrative Procedure Act

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    In its recent Loper Bright, Corner Post and Jarkesy decisions, the U.S. Supreme Court fundamentally changed the Administrative Procedure Act in ways that undermine Congress and the executive branch, shift power to the judiciary, curtail public and business input, and create great uncertainty, say Alene Taber and Beth Hummer at Hanson Bridgett.

  • Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?

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    A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.

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