Mergers & Acquisitions

  • 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.

  • January 27, 2025

    Zee Entertainment Hits Star India With Cricket Counterclaim

    Indian media conglomerate Zee Entertainment has challenged joint venture Star India's $940 million damages claim over broadcasting rights for international cricket matches, denying all assertions made by the JV in proceedings initiated before the London Court of International Arbitration.

  • January 27, 2025

    Perella Weinberg Had $47M Motive To Ax Partners, Judge Told

    Counsel for former partners of investment banking firm Perella Weinberg on Monday signaled to a New York state trial judge that the firm had a financial motive to fire them and pointed to emails calling one a "destructive influence."

  • January 27, 2025

    Party City Inks Deal To Sell IP, Assets In 2nd Ch. 11

    Bankrupt retailer Party City has reached a stalking horse agreement to sell its brand name, other intellectual property and related operating assets to an affiliate of the pop culture merchandiser Ad Populum LLC, which owns the brand behind Chia Pet and is an owner of the entertainment complex at Elvis Presley's home Graceland.

  • January 27, 2025

    Twitter Investor Can't Recoup Stock Sale Loss, Musk Atty Says

    An attorney for Elon Musk and Twitter successor X Corp. argued on Monday that seller's remorse prompted a former investor in the social media giant to launch an unsupportable, pro se lawsuit in Delaware's Court of Chancery to recover losses from his premature sale of the taken-private company's stock.

  • January 27, 2025

    Drone Co., Media Biz And Tire-Maker Announce SPAC Mergers

    Three overseas companies spanning industries from drones to fashion media and tire manufacturing announced plans on Monday to go public in the U.S. by merging with special purpose acquisition companies in deals projected to exceed $1.1 billion in value, guided by at least eight law firms.

  • January 27, 2025

    'Guesswork' Dooms Class Cert. In Meta Privacy Antitrust Suit

    A California federal judge has refused to certify a class of consumers who say Meta would have to pay users for their data if it didn't lie about privacy safeguards, finding that the motion was undone by the opinions of an economist who cannot get from general economics to market reality.

  • January 27, 2025

    QXO Goes Hostile With $11B Beacon Roofing Takeover Bid

    QXO Inc. on Monday lobbed a hostile takeover bid at Beacon Roofing Supply Inc., which previously rejected its acquisition proposal, announcing plans to launch an all-cash tender offer to purchase Beacon's remaining outstanding shares in a roughly $11 billion deal.

  • January 27, 2025

    PureHealth Nabs Majority Stake In HHG In $2.3B Deal

    Middle Eastern healthcare group PureHealth Holding PJSC on Monday announced plans to buy a majority stake in Freek and Cypriot healthcare provider Hellenic Healthcare Group in a deal that values HHG at $2.3 billion.

  • January 27, 2025

    Jimmie Johnson Takes Majority Stake In NASCAR Cup Team

    Seven-time NASCAR champion Jimmie Johnson has become the majority owner in the Legacy Motor Club, a NASCAR Cup Series racing team, as part of a restructuring that includes a minority investment from Milbank-represented Knighthead Capital Management LLC, according to a Legacy MC statement Monday. 

  • January 27, 2025

    Skadden Grows In Houston With V&E's Global M&A Co-Leader

    Skadden Arps Slate Meagher & Flom LLP announced Monday that the former global co-head of Vinson & Elkins LLP's mergers and acquisitions and capital markets group has joined the firm in Houston, bolstering the firm's corporate and energy offerings.

  • January 27, 2025

    Mergers & Acquisitions Group Of The Year: Skadden

    Skadden Arps Slate Meagher & Flom LLP shepherded clients through industry-defining 2024 deals, including Mars in its $35.9 billion acquisition of Kellanova and Ozempic's manufacturer in its acquisition by the investment arm of Novo Nordisk Foundation, securing the firm's spot in the 2024 Law360 Mergers & Acquisitions Groups of the Year.

  • January 27, 2025

    FTC Mired Startups, But Trump Brings Hope, Tech Group Says

    Aggressive antitrust enforcement gave startups fewer exit opportunities as large companies like Google, Amazon and Apple pulled back on acquisitions, according to a Monday report from the Computer & Communications Industry Association, yet the trade group's chief economist is optimistic things will change under President Donald Trump. 

  • January 27, 2025

    Davis Polk, Skadden Build Emerson's $7.2B AspenTech Buy

    Global technology company Emerson, advised by Davis Polk & Wardwell LLP, on Monday announced plans to acquire the remaining shares of fellow software company AspenTech, whose special committee was led by Skadden Arps Slate Meagher & Flom LLP, that it does not already own in a $7.2 billion deal.

  • January 27, 2025

    Proskauer Brings On MoFo REIT Expert As M&A Partner In DC

    Proskauer Rose LLP has added a former co-chair of Morrison Foerster LLP's real estate investment trust practice as a mergers and acquisitions partner in its Washington, D.C., office, the firm announced Monday.

  • January 27, 2025

    Ancora Seeks To Make US Steel 'Great Again' With New Board

    Ancora Holdings Group on Monday said it plans to make U.S. Steel "great again" by installing a new CEO and board at the company "committed to abandoning" the $14.9 billion proposed merger with Nippon Steel that was blocked by former President Joe Biden earlier this month. 

  • January 27, 2025

    Latham, Gibson Lead Diversified Energy's $1.3B Maverick Buy

    U.S.-based Diversified Energy Partners PLC said Monday that it has agreed to acquire private oil and gas company Maverick from U.S. investment firm EIG for approximately $1.28 billion in a deal guided by Latham & Watkins LLP, Gibson Dunn & Crutcher LLP and Kirkland & Ellis LLP.

Expert Analysis

  • Series

    Being A Luthier Makes Me A Better Lawyer

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    When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.

  • Lead Like 'Ted Lasso' By Embracing Cognitive Diversity

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    The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.

  • Preparing For Increased Scrutiny Of Tech Supply Chains

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    The U.S. Department of Commerce's recent action prohibiting sales of a Russia-based technology company's products in the U.S. is the first determination under the information technology supply chain rule, and signals plans to increase enforcement of protections that target companies in designated foreign adversary jurisdictions, say attorneys at Debevoise.

  • SVB Ch. 11 Shows Importance Of Filing Proof Of Claim Early

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    After a New York bankruptcy court’s recent ruling in SVB’s Chapter 11 case denied late claims filing requests related to post-bar date events, parties with potential claims against a debtor may need to seriously consider filing protective proofs of claim, says Kyle Arendsen at Squire Patton.

  • Del. Dispatch: 27.6% Stockholder Not A Controller

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    The Delaware Court of Chancery's recent decision in Sciannella v. AstraZeneca — which found that the pharma giant, a 26.7% stockholder of Viela Bio Inc., was not a controller of Viela, despite having management control — shows that overall context matters when challenging transactions on breach of fiduciary duty grounds, say attorneys at Fried Frank.

  • The Good, The Bad And The Ugly Of Healthcare's PE Boom

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    While an influx of capital may provide access to new resources and innovative technologies, the private equity model's method of funding may be fundamentally at odds with patient-first healthcare, and in recent years that inherent tension has gotten ugly, say Eva Gunasekera and Jaclyn Tayabji at Tycko & Zavareei.

  • Opinion

    A Way Forward For The US Steel-Nippon Deal And Union Jobs

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    Parties involved in Nippon Steel's acquisition of U.S. Steel should trust the Pennsylvania federal court overseeing a key environmental settlement to supervise a way of including future union jobs and cleaner air for the city of Pittsburgh as part of a transparent business marriage, says retired judge Susan Braden.

  • Opinion

    Now More Than Ever, Lawyers Must Exhibit Professionalism

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    As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.

  • A Look At State AGs Supermarket Antitrust Enforcement Push

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    The ongoing antitrust intervention by state attorneys general in the proposed Kroger and Albertsons merger suggests that states are straying from a Federal Trade Commission follow-on strategy in the supermarket space, which involved joining federal investigations or lawsuits and settling for the same divestment remedies, say attorneys at Troutman Pepper.

  • How To Survive Shareholder Activism

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    In an era where shareholder activism is on the rise, companies must identify weaknesses, clearly communicate strategies, update board composition and engage with shareholders consistently in order to avoid disruptive shareholder activism and safeguard the interests of both the company and its shareholders, say J.T. Ho at Orrick and Greg Taxin at Spotlight Advisors.

  • 'Outsourcing' Ruling, 5 Years On: A Warning, Not A Watershed

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    A New York federal court’s 2019 ruling in U.S. v. Connolly, holding that the government improperly outsourced an investigation to Deutsche Bank, has not undercut corporate cooperation incentives as feared — but companies should not completely ignore the lessons of the case, say Temidayo Aganga-Williams and Anna Nabutovsky at Selendy Gay.

  • Series

    Serving In The National Guard Makes Me A Better Lawyer

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    My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.

  • Big Business May Come To Rue The Post-Administrative State

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    Many have framed the U.S. Supreme Court’s recent decisions overturning Chevron deference and extending the window to challenge regulations as big wins for big business, but sand in the gears of agency rulemaking may be a double-edged sword, creating prolonged uncertainty that impedes businesses’ ability to plan for the future, says Todd Baker at Columbia University.

  • Equity Rights Offering Considerations As Maturity Cliff Looms

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    Current market uncertainties make an equity rights offering — involving affiliate backstop investors — a cost-effective, capital-raising transaction for distressed companies looking to manage their leverage ahead of the impending maturity of a substantial number of COVID-era debt issuances, say attorneys at Winston & Strawn.

  • A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates

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    Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.

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