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Mergers & Acquisitions
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May 07, 2025
AI-Focused SPAC Raises $125M As Blank-Check Filings Surge
Dune Acquisition Corp. II, a special purpose acquisition company targeting artificial intelligence and various technologies, began trading Wednesday after raising $125 million, the latest SPAC to join the market as three more such vehicles filed IPOs in recent days.
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May 07, 2025
Performance Equity Clinches 5th Fund With $383M Committed
Greenwich, Connecticut-based private equity shop Performance Equity Management LLC on Wednesday revealed that it clinched its fifth co-investment fund with $383 million in tow.
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May 07, 2025
Top Regional Atty At Binance Joins Steptoe White Collar Team
The former legal leader for Binance's Americas region, who also has been in-house with Vimeo and the U.S. Commodity Futures Trading Commission, has transitioned into private practice at Steptoe LLP, the firm said Wednesday, as policymakers work to set rules of the road for cryptocurrency.
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May 07, 2025
Orrick Hires Boston Duo For Life Sciences Practice
Orrick Herrington & Sutcliffe LLP has added a pair of life sciences and tech company advisors from Wilson Sonsini Goodrich & Rosati PC as Boston partners, the firm said Wednesday.
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May 07, 2025
Winston & Strawn M&A Partner Joins King & Spalding In NY
King & Spalding LLP has added a former Winston & Strawn LLP mergers and acquisitions partner to its corporate practice group in New York, the firm said.
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May 07, 2025
Geely Lobs Offer To Take Chinese EV Maker Zeekr Private
Chinese carmaker Geely Automobile Holdings Ltd. on Wednesday announced it has submitted a non-binding proposal to take Chinese electric-vehicle maker Zeekr private by acquiring the remaining shares it does not already own.
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May 07, 2025
Masimo Unloads Embattled Audio Unit In $350M Sale
Samsung Electronics subsidiary Harman International has agreed to acquire Masimo Corp.'s consumer audio division, Sound United, for $350 million in cash, with Masimo taking a financial hit on the business it acquired three years ago for about $1 billion.Â
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May 07, 2025
9th Circ. Affirms FTC Loss In Microsoft-Activision Case
The Ninth Circuit on Wednesday affirmed a lower court's ruling in a Federal Trade Commission case that refused to block Microsoft's $68.7 billion acquisition of game developer Activision Blizzard Inc.
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May 07, 2025
$13B Omnicom, Interpublic Deal Faces UK Enquiry
Britain's competition watchdog said Wednesday that it has decided to take an initial look at the approximately $13 billion merger of U.S.-based marketing communications giants Omnicom and Interpublic, as the mega-deal faces scrutiny in the U.S. as well.
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May 07, 2025
FD Technologies Weighs £542M Approach From US PE Firm
British technology firm FD Technologies said Wednesday that it is likely to accept an approximately £541.6 million ($723.9 million) possible takeover offer from U.S. private equity firm TA Associates Management LP.
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May 07, 2025
SoftwareOne Crosses Threshold In $1.4B IT Consultancy Buy
Swiss cloud technology company SoftwareOne Holding AG said Wednesday that it will be able to move ahead with its $1.4 billion takeover of Crayon Group after 91.6% of shareholders in the Norwegian company backed the deal.
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May 07, 2025
Veolia To Take Ownership Of Water Manager In $1.75B Deal
French utility giant Veolia said Wednesday that it will buy the remaining 30% stake in its water management subsidiary from Canadian investment group CDPQ for $1.75 billion in a move to simplify its corporate structure.
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May 06, 2025
White & Case's Co-Head Of PE Strikes Out On Her Own
Taurie Zeitzer has said goodbye to White & Case LLP just 16 months after joining the law firm as its co-head of private equity, according to an announcement Tuesday by Zeitzer that revealed she is forming her own strategic advisory firm.
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May 06, 2025
T-Mobile Attys Get $2.9M In Fees In Arbitration Award Suit
A mobile phone dealer that accused T-Mobile of tricking it into "false and oppressive" service agreements is on the hook for $2.9 million of the mobile titan's attorney fees after an Ohio federal judge refused to vacate the arbitration award that directed Preferred Wireless to pay up.
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May 06, 2025
NY Says Owner Has To Sell Ski Resort After Antitrust Loss
A New York ski resort operator who a state judge has ruled violated antitrust law by buying a rival and shutting it down should have to sell off one of its properties, preferably the one it shut down, so it can be reopened for next winter, the Empire State is arguing.
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May 06, 2025
FTC Commissioner Throws Cold Water On Antitrust Defenses
Newly minted Federal Trade Commissioner Mark R. Meador criticized several arguments frequently raised in antitrust cases during a speech Monday, including that company breakups are too extreme and that innovation can justify anticompetitive conduct.
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May 06, 2025
SEC Panel Says Easier Trading Would Rev Up 'Reg A'
A small business-focused committee advising the Securities and Exchange Commission expressed renewed support on Tuesday for easing secondary trading in connection with Regulation A, hoping to broaden the appeal of this lightly used alternative to an initial public offering.
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May 06, 2025
B. Riley Escapes Investor Suit Over National Holdings Buyout
Delaware's Chancery Court has dismissed B. Riley Financial Inc. from a suit challenging its 2021 acquisition of National Holdings Corp., rejecting a former National stockholder's claim that B. Riley controlled the negotiations in the shadow of its significant stake in National.
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May 06, 2025
Kirkland Guides Rotunda Capital On $735M Fund Close
Private equity firm Rotunda Capital Partners said Tuesday it has raised $735 million for its latest fund under the legal guidance of Kirkland & Ellis LLP, surpassing its $550 million target as Rotunda's managing partners called attention to a challenging current fundraising environment.Â
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May 06, 2025
3rd Circ. Won't Review PNC's $106M No-Coverage Ruling
The Third Circuit declined Tuesday to reconsider its decision that PNC Bank isn't owed coverage for a $106 million judgment it incurred over claims that its predecessor mismanaged funeral trust accounts.
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May 06, 2025
Google Calls Proposed Ad Tech Breakup 'Unworkable'
Google has told a Virginia federal court that fixes being proposed by enforcers in the ad tech monopolization case calling for the sale of its ad exchange and publisher-side tool are legally inappropriate and practically "unworkable."
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May 06, 2025
A&O Shearman Atty To Lead Baker McKenzie Fintech Team
Baker McKenzie announced Tuesday it had tapped an Allen Overy Shearman Sterling attorney, one of two lawyers it was bringing aboard from the London-based firm, to serve as the new chair of its North American fintech and payments practice.
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May 06, 2025
Career Morgan Lewis Antitrust Atty Moves To Latham
An attorney who focuses his practice on the antitrust aspects of mergers and acquisitions, joint ventures and other corporate transactions has moved his practice from Morgan Lewis & Bockius LLP, where he had spent his entire career, to Latham & Watkins LLP.
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May 06, 2025
Uber Paying $700M For Majority Stake In Turkey's Trendyol GO
Uber Technologies said Tuesday that it has agreed to acquire an 85% stake in Turkish online food and grocery delivery platform Trendyol GO for $700 million in cash, as it looks to strengthen its position in a fast-growing food and grocery delivery market.
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May 06, 2025
Ex-Perkins Coie Corporate Partner Joins Dorsey & Whitney
A former Perkins Coie LLP partner whose niche is representing portfolio companies of private equity firms has joined Dorsey & Whitney LLP's mergers and acquisitions group in New York and Washington, D.C.
Expert Analysis
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Inside FTC's Decision To Exit Key Merger Review Labor Memo
Despite the Federal Trade Commission's recent withdrawal from a multiagency memorandum of understanding to step up enforcement of labor issues in merger investigations, the antitrust agencies aren't likely to give up their labor market focus, say attorneys at Stinson.
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Comments Show Need For Clarity On SBA Proposed Rule
The recent public comments period for the Small Business Administration's proposed rule on recertification and other regulations underscores the need for more precision, particularly on agreements in principle, which the SBA should address as it moves forward with this rulemaking, say attorneys at Covington.
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Series
Beekeeping Makes Me A Better Lawyer
The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.
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Election Unlikely To Overhaul Antitrust Enforcers' Labor Focus
Although the outcome of the presidential election may alter the course of antitrust enforcement in certain areas of the economy, scrutiny of labor markets by the Federal Trade Commission and the U.S. Department of Justice is likely to remain largely unaffected — with one notable exception, say Jared Nagley and Joy Siu at Sheppard Mullin.
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Opinion
Legal Institutions Must Warn Against Phony Election Suits
With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.
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How Cos. Can Build A Strong In-House Pro Bono Program
During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.
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Bristol-Myers Win Offers Lessons For Debt Security Holders
A New York federal judge's recent dismissal of a $6.4 billion lawsuit against Bristol-Myers Squibb, due to plaintiff UMB Bank's lack of standing, serves as an important reminder to debt security holders to obtain depositary proxies before pursuing litigation, say attorneys at Milbank.
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Series
Home Canning Makes Me A Better Lawyer
Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.
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Avoiding Merger Disputes Via Careful LLC Agreement Drafting
The Delaware Court of Chancery recently upheld a merger in a dispute over the process of amending the target's limited liability company agreement, underscoring the importance of understanding the Delaware LLC Act default rules and careful drafting to allow for contractual modifications, says Jane Trueper at Lathrop.
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Use The Right Kind Of Feedback To Help Gen Z Attorneys
Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.
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Opinion
Congress Can And Must Enact A Supreme Court Ethics Code
As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.
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Series
The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan
Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.
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To Report Or Not To Report Others' Export Control Violations
A recent Bureau of Industry and Security enforcement policy change grants cooperation credit to those that report violations of the Export Administration Regulations committed by others, but the benefits of doing so must be weighed against significant drawbacks, including the costs of preparing and submitting a report, says Megan Lew at Cravath.
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With Esmark Case, SEC Returns Focus To Tender Offer Rules
The U.S. Securities and Exchange Commission's recent enforcement action against Esmark in connection with its failed bid to acquire U.S. Steel indicates the SEC's renewed attention under Rule 14e‑8 of the Exchange Act on offerors' financial resources as a measure of the veracity of their tender offer communications, say attorneys at MoFo.
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HSR Amendments Intensify Merger Filing Burdens, Data Risk
The antitrust agencies' long-awaited changes to premerger notification rules under the Hart-Scott-Rodino Act stand to significantly increase the time and cost involved in preparing an initial HSR notification, and will require more proactive attention to data issues, says Andrew Szwez at FTI Technology.