Mergers & Acquisitions

  • January 29, 2025

    GOP Sen. Wants 'New' FCC To Review Soros-Audacy Deal

    Now that the Federal Communications Commission is under Republican leadership, one Republican senator wants the new chair to review the agency's decision to approve Soros Fund Management's acquisition of an ownership interest in radio station owner Audacy.

  • January 29, 2025

    SPAC Investors Sue In Del. Over Conflicted Concert Co. Deal

    Investors of a special purpose acquisition company have sued the venture's principals in Delaware Chancery Court, accusing them of steering the already cash-poor company into a conflicted deal to take public a concert promoter affiliated with a SPAC creditor that had scant luck beyond events involving a 1970s "one-hit wonder."

  • January 29, 2025

    Spirit Spurns Frontier Offer In Favor Of Ch. 11 Debt Swap

    Bankrupt air carrier Spirit Airlines Inc. said in public securities filings Wednesday that it has rejected an offer from competitor Frontier Airlines to merge and will instead continue pursuit of its prearranged restructuring plan set for confirmation in mid-February because the terms of the Frontier proposal would leave creditors worse off.

  • January 29, 2025

    2 Blank Check Cos. Plan IPOs Totaling $325M

    Two special purpose acquisition companies, Cartesian Growth III and Gesher Acquisition Corp. II, have launched plans for initial public offerings, expecting to raise a combined $325 million.

  • January 29, 2025

    Milbank Lands Kirkland Private Equity Ace In LA

    Milbank LLP continues expanding its corporate team, announcing Wednesday it is bringing in a Kirkland & Ellis LLP private equity expert as a partner in its Los Angeles office.

  • January 29, 2025

    Milbank Adds Ex-Skadden Financial Restructuring Pro In NY

    Milbank LLP has added a corporate restructuring attorney previously with Skadden Arps Slate Meagher & Flom LLP as a partner in its New York office, the firm has announced.

  • January 29, 2025

    KKR Plugs $250M Into Healthcare Biz Henry Schein

    Healthcare solutions provider Henry Schein Inc., advised by Cleary Gottlieb Steen & Hamilton LLP, on Wednesday announced that it received a $250 million investment from Kirkland & Ellis LLP-led private equity giant KKR, resulting in the private equity shop becoming the company's largest non-index fund shareholder.

  • January 29, 2025

    $7.8B ChampionX Deal Gets Added Scrutiny Across The Pond

    SLB's path to closing its proposed $7.8 billion acquisition of ChampionX got a little trickier Wednesday as the U.K. Competition and Markets Authority launched a formal investigation into a deal that is also under the scrutiny of U.S. regulators. 

  • January 29, 2025

    Anglo American Completes $1B Sale Of Jellinbah

    British multinational mining giant Anglo American PLC said Wednesday that it has completed the AU$1.6 billion ($1.1 billion) sale of its minority interest in an Australian coal mining joint venture to Zashvin Pty Ltd.

  • January 29, 2025

    A&O Shearman Guides American Axle's £1.16B UK Biz Offer

    British automotive group Dowlais has agreed to a £1.16 billion ($1.44 billion) cash and shares takeover by U.S. operator American Axle & Manufacturing, the companies said Wednesday, as they seek to create a global car parts manufacturer.

  • January 28, 2025

    Capri Investors Sue Over Scrapped $8.5B Tapestry Merger

    Fashion brand giants Capri Holdings Ltd. and Tapestry Inc. misled investors about potential antitrust regulatory issues associated with their planned $8.5 billion merger that ultimately led to the deal's failure and investor losses, according to a proposed securities class action filed Tuesday in Delaware federal court.

  • January 28, 2025

    Drugs Made In America SPAC Nets $200M To Buy Pharma Biz

    Blank-check company Drugs Made In America Acquisition Corp. began trading Tuesday after completing a downsized $200 million initial public offering with the intention of acquiring a U.S.-based pharmaceutical business, represented by Loeb & Loeb LLP and underwriter's counsel Winston & Strawn LLP.

  • January 28, 2025

    Pharma Co. Gets Final Shot To Ax NC Contract Breach Suit

    A pharmaceutical company can make another attempt to escape a software developer's suit alleging he was duped into selling his technology to the company, the North Carolina Business Court has said, months after the state's top court revived the software maker's breach of contract claims.

  • January 28, 2025

    Bain Capital Seeks Surgery Partners Buyout At $3.3B Value

    Tennessee-based short-stay surgical facility operator Surgery Partners Inc. disclosed Tuesday that its board received a nonbinding proposal the prior day from Bain Capital Private Equity LP that values the company at close to $3.3 billion. 

  • January 28, 2025

    Dish Says Spoofed Social Media Posts Defamed Co., Execs

    Dish Wireless is suing anonymous social media users in Colorado state court for defamation, alleging they created fake accounts posing as company executives while posting criticism of the business.

  • January 28, 2025

    Yale Unit Wants To Yank Hospital Sale Suit From Ch. 11 Court

    A Yale University health unit's lawsuit seeking to escape a $435 million sale deal with a bankrupt hospital operator belongs in state court and not with the Chapter 11 judge, the Ivy League-tied entity told a federal judge Tuesday.

  • January 28, 2025

    TravelPerk Hits $2.7B Valuation, Announces Yokoy Buy

    Spanish business travel platform TravelPerk, advised by Allen Overy Shearman Sterling, Wilson Sonsini Goodrich & Rosati PC and Lenz & Staehelin, on Tuesday announced that it hit a $2.7 billion valuation after closing its Series E funding round with $200 million of commitments, while also announcing its acquisition of European expense, invoice and card payment processing platform Yokoy.

  • January 28, 2025

    Beacon Roofing Nails Poison Pill To $11B Hostile Takeover Bid

    Beacon Roofing Supply Inc. adopted a poison pill strategy on Tuesday, designed to thwart the $11 billion hostile takeover bid launched by tech and software company QXO Inc. the previous day.

  • January 28, 2025

    'Godfather' Of AG Defense Retiring From Cozen O'Connor

    Bernard "Bernie" Nash, an attorney who pioneered the practice of defending companies against investigations by state attorneys general, is retiring from Cozen O'Connor and handing over the reins to his handpicked successors after nearly 50 years in private practice.

  • January 28, 2025

    Cravath, Ropes & Gray Guide $2.4B Connecticut Water Deal

    Ropes & Gray LLP and Cravath Swaine & Moore LLP are leading a $2.4 billion deal that will see public energy company Eversource Energy sell subsidiary Aquarion Water Co., a public water supply and wastewater treatment company, to a unit of the state of Connecticut. 

  • January 28, 2025

    Paul Hastings, Cravath Lead Smithfield's Reduced $522M IPO

    Shares of pork producer Smithfield Foods Inc., which has spun off from China's WH Group, began trading Tuesday after the company priced a downsized $522 million initial public offering below its initial range, with Paul Hastings LLP advising Smithfield in the offering and Cravath Swaine & Moore LLP representing its underwriters.

  • January 28, 2025

    Chancery Bars More Disclosures In Sage-Biogen Fight

    A Delaware vice chancellor on Tuesday prohibited Biogen Inc. and its human therapeutics product subsidiary from making public statements regarding a potential buyout of Sage Therapeutics Inc. after Sage sued for enforcement of a standstill provision in an earlier Biogen deal for Sage stock.

  • January 28, 2025

    4 Firms Look To Build $1B Sale Of Evergreen Theragnostics

    Radiopharmaceutical-focused healthcare company Lantheus Holdings Inc. on Tuesday announced plans to buy Evergreen Theragnostics Inc. for up to $1 billion or more in a deal steered by four law firms.

  • January 28, 2025

    Trump Wants TikTok 'Bidding War' As Microsoft Enters Talks

    President Donald Trump said that Microsoft is in discussions to purchase TikTok, stressing that a bidding war would be a "good thing" because that's how to get "the best deal."

  • January 28, 2025

    Mediobanca Rejects Monte Dei Paschi's €13.3B Bid

    Italian investment bank Mediobanca SpA said Tuesday that it has rejected a €13.3 billion ($13.9 billion) takeover offer from Monte dei Paschi for being destructive to value for shareholders at both lenders.

Expert Analysis

  • Calif. Out-Of-State Noncompete Ban Faces Several Hurdles

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    California's attempt to bolster its noncompete law has encountered significant procedural and constitutional challenges, and litigating parties must carefully analyze not only the restrictive covenants contained in their agreements, but also the forum-selection and choice-of-law provisions, say Jennifer Redmond and Gal Gressel at Sheppard Mullin.

  • Autonomy Execs' Acquittal Highlights Good Faith Instruction

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    The recent acquittal of two former Autonomy executives demonstrates that a good faith jury instruction can be the cornerstone of an effective defense strategy in white collar criminal cases, in part because the concept of good faith is a human experience every juror can relate to, says Sara Kropf at Kropf Moseley.

  • Series

    Teaching Scuba Diving Makes Me A Better Lawyer

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    As a master scuba instructor, I’ve learned how to prepare for the unexpected, overcome fears and practice patience, and each of these skills – among the many others I’ve developed – has profoundly enhanced my work as a lawyer, says Ron Raether at Troutman Pepper.

  • Lawyers Can Take Action To Honor The Voting Rights Act

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    As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.

  • PE Firms Should Prepare For Increased False Claims Scrutiny

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    The impact private equity firms may have over medical decisions and care is increasingly attracting potential liability under the False Claims Act and attention from states and the federal government, so investors should follow best practices including conducting due diligence both before and after acquisitions, say attorneys at K&L Gates.

  • Navigating Antitrust Considerations In ESG Collaborations

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    The intersection of ESG goals and antitrust laws presents a complex challenge for businesses and their counsel — but by creating clear frameworks for collaboration, adhering to established guidelines and carefully considering the competitive implications of their actions, companies can work toward sustainability while mitigating legal risks, say attorneys at Morgan Lewis.

  • How To Grow Marketing, Biz Dev Teams In A Tight Market

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    Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.

  • FTC Focus: Private Equity Investments In Healthcare

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    As the Federal Trade Commission is tightening its scrutiny of private equity investment in healthcare, the agency is finding novel grounds to challenge key focus areas, including rollup acquisitions, the flip-and-strip approach and minority investments in rival providers, say attorneys at Proskauer.

  • Series

    Rock Climbing Makes Me A Better Lawyer

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    Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.

  • How 5 States' Deal Notification Laws Are Guiding Healthcare

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    Healthcare transaction notification laws at various stages of implementation in California, Illinois, Indiana, Oregon and Washington are shaping sector mergers and acquisitions, with significant transparency, continuity of care and compliance implications as providers tackle complex regulatory requirements, says Melesa Freerks at DLA Piper.

  • Think Like A Lawyer: Dance The Legal Standard Two-Step

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    From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.

  • Opinion

    OFAC Sanctions Deserve To Be Challenged Post-Chevron

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    The U.S. Supreme Court's Loper Bright decision opens the door to challenges against the Office of Foreign Assets Control's sanctions regime, the unintended consequences of which raise serious questions about the wisdom of what appears to be a scorched-earth approach, says Solomon Shinerock at Lewis Baach.

  • Behind The Delay Of Final HSR Premerger Filing Rules

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    Erin Toomey at Epiq discusses the wait for the final version of the revised Hart-Scott-Rodino premerger filing requirements that were first introduced in June 2023, the factors that might be behind the delay, and how to plan for the potential data-focused rule change

  • Why FDIC Banks May Want To Consider Fed Membership

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    With the Federal Deposit Insurance Corp. recently ratcheting up bank supervision and proposing idiosyncratic new policies, state-chartered nonmember banks may want to explore the benefits of becoming Federal Reserve members and consider practical steps to make the switch, say Max Bonici and Connor Webb at Venable.

  • Opinion

    The FTC Needs To Challenge The Novo-Catalent Deal

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    Novo's acquisition of Catalent threatens to substantially lessen competition in the manufacturing and marketing of GLP-1 diabetes and obesity drugs, and the Federal Trade Commission should challenge it under a vertical theory of harm, as it aligns with last year's merger guidelines and the Fifth Circuit decision in Illumina, says attorney David Balto.

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