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Mergers & Acquisitions
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January 30, 2025
DOJ Challenges HPE's $14B Deal For Juniper Networks
The U.S. Department of Justice sued Thursday to block Hewlett Packard Enterprise's planned $14 billion purchase of Juniper Networks Inc. over concerns about competition for local wireless networking technology.
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January 30, 2025
Sidley, Mintz Guide Gene Biz Acquisition Worth Up To $7M
Cell therapy specialist MaxCyte said Thursday that it has bought gene editing company SeQure Dx in a deal worth up to $7 million as it seeks to strengthen its ability to help developers in the field from R&D to commercialization.
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January 30, 2025
Molson Coors Buys Stake In UK Mixer Biz Fevertree For £71M
Molson Coors said Thursday that it has bought an 8.5% stake in Fevertree, a British maker of tonic and mixers, for £71 million ($88 million), as the Canadian-American brewing giant seeks to diversify its portfolio and grow the brand in the U.S.
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January 30, 2025
Nelson Mullins-Led Serco Unit To Buy Defense Biz For $327M
Serco Group PLC said Thursday that a subsidiary has agreed to buy a defense software business from U.S. aerospace giant Northrop Grumman Corp. for $327 million, allowing it to tap into the "huge" sector as geopolitical tensions threaten to boil over.
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January 29, 2025
Roomba Maker Escapes Suit Over Scuttled Amazon Merger
A Massachusetts federal judge has permanently thrown out a shareholder class action accusing iRobot Corp. of misleading investors about expected regulatory opposition that ultimately led to the abandonment of a proposed $1.7 billion merger with Amazon, saying "the pleading process ought not be used as a trial balloon, with repeated bites at the apple."
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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.
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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."
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
Expert Analysis
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Making The Pitch To Grow Your Company's Legal Team
In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.
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The Story Of 2024's Biggest Bank Regs, And Their Fate In 2025
U.S. federal bank regulators were very active in 2024 with initiatives ranging from antitrust and capital to proposals regarding controlling shareholders and incentive-based compensation, but many regulations face an uncertain future under the new administration, say attorneys at Latham.
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Considering European-Style Lockboxes For US M&A In 2025
The lockbox mechanism, commonly used in Europe, offers an attractive alternative to the postclosing price adjustments that dominate U.S. merger and acquisition transactions in private equity, particularly with the market's demand for transparency likely to remain steadfast under Trump, says Laurent Campo at Potomac Law.
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Gov't Scrutiny Of Workplace Chat Apps Set To Keep Growing
The incoming Trump administration and Republican majorities in Congress are poised to open numerous investigations that include increasing demands for entities to produce communications from workplace chat apps, so companies must evaluate their usage and retention policies, say attorneys at Orrick.
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Del. Dispatch: The 2024 Corporate Cases You Need To Know
The Delaware Court of Chancery in 2024 issued several decisions that some viewed as upending long-standing corporate practices, leading to the amendment of the Delaware General Corporation Law and debates at some Delaware corporations about potentially reincorporating to another state, say attorneys at Fried Frank.
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2025's Midmarket M&A Terrain May Hold A Few Bright Spots
Attorneys at Stoel Rives assess middle-market merger and acquisition trends, and explain why many dealmakers have turned cautiously optimistic about the sector's 2025 prospects, despite potential inflation and new Federal Trade Commission rules.
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When US Privilege Law Applies To Docs Made Outside The US
As globalization manifests itself in disputes over foreign-created documents, a California federal court’s recent trademark decision illustrates nuances of both U.S. privilege frameworks and foreign evidentiary protections that attorneys must increasingly bear in mind, say attorneys at Hunton.
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Why Asset-Based Loans May Suit PE Companies In 2025
As the prospect of higher tariffs and interest rates expands the need for liquidity, private equity investors would do well to explore the timing and provisions of asset-based loans offered in the burgeoning credit-fund sector, say attorneys at McDermott.
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How New Merger Filing Rules Will Affect Economic Advocacy
New rules from the antitrust agencies significantly change the Hart-Scott-Rodino premerger notification process and will necessitate rigorous economic analysis earlier in the merging process as the information provided in the filings reflects important antitrust considerations, says Andrea Asoni at Charles River.
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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.