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Mergers & Acquisitions
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July 29, 2025
DOJ's Top Antitrust Deputy, Merger Chief Both Fired
The U.S. Department of Justice has ousted two of its top Antitrust Division officials, citing insubordination amid growing signs of tension between merger enforcers and the wider Trump administration.
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July 29, 2025
4th Circ. Rejects BofA's Claim Of Tax Offsets After Mergers
Bank of America cannot use its tax overpayments to offset interest on tax underpayments by Merrill Lynch just because the two companies later merged, the Fourth Circuit affirmed Tuesday in a $163 million case that affects more than 20 years' worth of tax adjustments.
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July 29, 2025
5 Firms Lead $2.48B Sale Of Piedmont Natural Gas' Tenn. Biz
Duke Energy on Tuesday announced plans to sell its Piedmont Natural Gas Tennessee local distribution business to natural gas company Spire Inc. in a $2.48 billion all-cash deal that was built by five law firms.
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July 29, 2025
4 Firms Drive $250B Norfolk, Union Pacific Mega Deal
Union Pacific Corp. and Norfolk Southern Corp. on Tuesday announced plans to combine in a megamerger that will create the country's first transcontinental railroad boasting a combined enterprise value of approximately $250 billion, but which will also likely draw antitrust scrutiny.
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July 29, 2025
Baker Hughes Inks $13.6B Chart Buy, Topping Flowserve Deal
Energy technology firm Baker Hughes said on Tuesday it will acquire natural gas equipment maker Chart Industries in a $13.6 billion all-cash transaction, superseding a previously announced all-stock megamerger between Chart and Flowserve Corp.
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July 29, 2025
Shareholders Of Just Eat Get More Time To Accept €4.1B Offer
Dutch investment group Prosus said Tuesday that it has given the shareholders of Just Eat Takeaway more time to accept its €4.1 billion ($4.7 billion) take-private deal as it waits for the European Commission to clear its antitrust concerns.
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July 28, 2025
UpHealth Moves To Toss Glocal Ch. 11 Dispute
Bankrupt medical tech company UpHealth is urging a Delaware bankruptcy judge to nix a $200 million adversary proceeding launched by Glocal Healthcare in a bitter feud over an ill-fated merger, accusing the Indian digital healthcare services platform of bad faith through a pattern of delay and obfuscation.
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July 28, 2025
SEC Pushes $630K Penalty Against Atty In Stock Fraud Suit
The U.S. Securities and Exchange Commission renewed its motion Monday for a more than $630,000 civil penalty and final judgment against securities attorney Henry Sargent, after years of litigation in Massachusetts federal court alleging he orchestrated a sham merger, saying Sargent "has never recognized the wrongfulness of his conduct."
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July 28, 2025
Newly Public Crypto Platform Tron Files Plans To Raise $1B
Crypto platform Tron on Monday filed plans with the U.S. Securities and Exchange Commission to raise $1 billion over time, making preliminary plans for future capital raises following its public listing on Nasdaq through a reverse merger.
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July 28, 2025
Berlusconi's MFE Boosts ProSieben Takeover Bid To $2.4B
MFE-MediaForEurope said Monday it is raising its offer for ProSiebenSat.1 Media SE, valuing the German broadcaster at roughly €2.01 billion ($2.4 billion) as the Berlusconi family-backed media group seeks to expand its European media footprint.
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July 28, 2025
Broker's Countersuit Says Ex-Worker Tried To Poach Clients
An insurance brokerage being sued by an ex-employee who says his former boss broke a promise to sell him a local agency alleges in its own Pennsylvania state court lawsuit that the employee had actually been scheming to steal clients from the brokerage and take them to a new firm.
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July 28, 2025
Fired FTC Dem Urges DC Circ. Not To Pause Reinstatement
A Democratic member of the Federal Trade Commission who was fired by the president is urging the D.C. Circuit not to pause a lower court order calling for her reinstatement while the administration appeals, saying the administration has little chance of success.
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July 28, 2025
Catching Up With Delaware's Chancery Court
A Delaware vice chancellor last week sent several coordinated derivative suits seeking millions of dollars in damages from AT&T to trial and also chose a boutique firm to lead a potential "blockbuster" suit challenging a take-private deal of a sports and entertainment group after "heated" attacks between competing counsel.
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July 28, 2025
Merger Settlements Return As Enforcers Keep Busy
The first half of 2025 saw a string of settlements by the Federal Trade Commission and the U.S. Department of Justice allowing mergers to move forward, a marked shift from the prior administration.
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July 28, 2025
NiCE Acquiring Cognigy In $955M Agentic AI Deal
New Jersey-based NiCE, a global provider of AI-powered customer experience platforms, said Monday it has agreed to acquire Cognigy, a leader in conversational and agentic AI, in a deal valued at approximately $955 million.
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July 28, 2025
Sidara Gets More Time To Make Bid For John Wood
Engineering consultancy Wood Group said Monday that its Asian rival Sidara has been given more time to finalize its approximately £242 million ($324 million) takeover proposal, after the Scottish company missed out on offers of up to £1.6 billion in 2024.
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July 28, 2025
KKR Plugs AU$500M Into Australian Renewable Energy Biz
Private equity giant KKR on Monday said that it has agreed to invest AU$500 million ($326.3 million) into Australian renewable energy company CleanPeak Energy to help it grow its distributed energy platform.
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July 28, 2025
Freshfields, White & Case, Sidley Guide $3B Vaccine Biz Buy
Private equity firms Nordic Capital and Permira said Monday they will buy Bavarian Nordic for 19 billion Danish kroner ($3 billion) in cash to turn the vaccine developer into a global heavyweight as a private company.
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July 28, 2025
Paul Hastings Lands King & Spalding Energy Pro In Houston
Paul Hastings LLP announced Monday that it has fortified its mergers and acquisitions and private equity platform with an energy partner in Houston who came aboard from King & Spalding LLP.
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July 25, 2025
OpenAI Urges 9th Circ. To Ax Injunction In Trademark Dispute
OpenAI has asked the Ninth Circuit to vacate an injunction temporarily blocking it from using the trademark associated with acquired competitor IO Products Inc., slamming the litigation as a "transparent attempt to exploit the recent merger announcement."
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July 25, 2025
Sports & Betting Cases To Watch In The Second Half Of 2025
Certain court cases have become staples on both the midyear and end-of-year must-watch lists in sports and betting at Law360. One that seemed best positioned to finally fall off the list, as it turns out, is far from over: the multibillion-dollar NCAA settlement regarding name, image and likeness payments and revenue sharing with hundreds of thousands of college athletes. A handful of other suits from past years will also continue to bear watching through the end of 2025.
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July 25, 2025
NGM Biopharma Investors Take $6M Deal To End Sale Suit
The Column Group and former stockholders of NGM Biopharmaceuticals have agreed to settle for $6 million a Delaware Court of Chancery lawsuit challenging NGM's $135 million, $1.55-per-share sale to The Column Group, its pre-deal venture capital controller.
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July 25, 2025
Chancery Tosses UpHealth Affiliate's Suit For SPAC Damages
Pointing to "numerous defects" in the complaint, a Delaware vice chancellor on Friday tossed every count in a suit filed by investors who alleged they were misled in the run-up to a multi-business special purpose acquisition company deal to take public now-bankrupt UpHealth Holdings and Cloudbreak Health.
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July 25, 2025
District Court Won't Pause Block Of FTC Dem's Firing
A D.C. federal court refused to stay its order reinstating a Democratic member of the Federal Trade Commission after finding she was illegally fired by the Trump administration, although the D.C. Circuit has already put the order on hold.
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July 25, 2025
Latham, Sidley Advise Deal In $5B Power Infrastructure Push
Latham & Watkins LLP and Sidley Austin LLP advised ArcLight Capital Partners' acquisition of power developer and manager Advanced Power in an investment that could grow to more than $5 billion over the next five years based on AI and data center infrastructure demand.
Expert Analysis
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Series
Adventure Photography Makes Me A Better Lawyer
Photographing nature everywhere from Siberia to Cuba and Iceland to Rwanda provides me with a constant reminder to refresh, refocus and rethink the legal issues that my clients face, says Richard Birmingham at Davis Wright.
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How Views On Healthcare Price Transparency Are Changing
Regulators' attitudes toward price transparency regulation have shifted over the past several years in ways that may seem contradictory, and research into detailed rate information published by hospitals and health plans has yielded mixed results, says Matthew List at Charles River Associates.
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The 5 Most Important Bid Protest Decisions Of 2024
The U.S. Court of Appeals for the Federal Circuit, the Court of Federal Claims and the Government Accountability Office issued five noteworthy bid protest decisions in 2024 that will likely have a continuing impact on questions concerning standing, timeliness, corporate transactions and more, say attorneys at Bradley Arant.
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5 Ways To Create Effective Mock Assignments For Associates
In order to effectively develop associates’ critical thinking skills, firms should design mock assignments that contain a few key ingredients, from messy fact patterns to actionable feedback, says Abdi Shayesteh at AltaClaro.
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Overseas Investment Rule Calls For Compliance Caution
Investors should be leery of who and what they are investing in now that the federal outbound investment regime, effective Jan. 2, has extended the governement's regulatory reach to businesses and parties not previously subject to trade restrictions, says Thaddeus McBride at Bass Berry.
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Recent Suits Show Antitrust Agencies' Focus On HSR Review
The U.S. Department of Justice's suit this month against KKR for inaccurate and incomplete premerger filings, along with other recent cases, highlights the agency's increasing scrutiny of Hart-Scott-Rodino Act compliance for private equity firms, say attorneys at Willkie.
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The 7th Circ.'s Top 10 Civil Opinions Of 2024
Attorneys at Jenner & Block examine the most significant decisions issued by the Seventh Circuit in 2024, and explain how they may affect issues related to mass arbitration, consumer fraud, class certification and more.
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Mentorship Resolutions For The New Year
Attorneys tend to focus on personal achievements or career milestones when they set yearly goals, but one important area often gets overlooked in this process — mentoring relationships, which are some of the most effective tools for professional growth, say Kelly Galligan at Rutan & Tucker and Andra Greene at Phillips ADR.
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PE Strategies To Manage Adjacent Portfolio Firm Conflicts
A variety of tools can mitigate potential risk for a private equity director sitting on the board of directors of multiple companies, including the disclosure of potential conflicts in fundraising documents to help mitigate risk under the securities laws, says Michael Kendall at Goodwin.
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Series
Coaching Little League Makes Me A Better Lawyer
While coaching poorly played Little League Baseball early in the morning doesn't sound like a good time, I love it — and the experience has taught me valuable lessons about imperfection, compassion and acceptance that have helped me grow as a person and as a lawyer, says Alex Barnett at DiCello Levitt.
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5 Litigation Funding Trends To Note In 2025
Lawyers and their clients must be prepared to navigate an evolving litigation funding market in 2025, made more complicated by a new administration and the increasing overall cost of litigation, says Jeffery Lula at GLS Capital.
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How FTC Sent A $5.6M Warning Against Jumping The Gun
The Federal Trade Commission's recent record $5.6 million "gun jumping" action against Verdun Oil, for allegedly exerting control over EP Energy before the mandatory waiting period under U.S. antitrust law expired, warns companies that they must continue to operate independently during review, say attorneys at Ballard Spahr.
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Rethinking Litigation Risk And What It Really Means To Win
Attorneys have a tendency to overestimate litigation risk before summary judgment and underestimate risk after it, but an eight-stage litigation framework can clarify risk at different points and help litigators reassess what true success looks like in any particular case, says Joshua Libling at Arcadia Finance.
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Mass Arbitration Procedures After Faulty Live Nation Ruling
Despite the Ninth Circuit's flawed reasoning in Heckman v. Live Nation, the exceptional allegations of collusive conduct shouldn't be read to restrict arbitration providers that have adopted good faith procedures to ensure that consumer mass arbitrations can be efficiently resolved on the merits, says Collin Vierra at Eimer Stahl.
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Forecasting The Future Of The FTC Post-Inauguration
The incoming Federal Trade Commission leadership's agenda, which is expected to be in sharp contrast with the Biden administration's enforcement posture, will be noticeable right away in the first few weeks of the Trump administration, say attorneys at Cooley.