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Mergers & Acquisitions
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June 06, 2025
CMS-Led Auto Dealer Tech Biz To Buy JV Stake For $76.5M
Pinewood Technologies said Friday that it has agreed to buy the 51% stake of car dealership Lithia in their U.S. joint venture for $76.5 million as it aims to accelerate the adoption of its auto retailer software in America and Canada.
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June 05, 2025
'Sparse' OPM Record On Mass Firings Backs Win, Unions Say
A "sparse and self-serving" record provided by the U.S. Office of Personnel Management still shows the agency unlawfully directed federal agencies to fire probationary employees en masse, so a California federal court can reach a final decision now and "unwind" those terminations, a coalition including unions and advocacy groups said Thursday.
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June 05, 2025
Elon Musk Seeks $5B For AI Startup, Amid Other Reports
Elon Musk is planning a $5 billion debt sale for his AI startup, Ontario’s pension seeks final bids for an Indian hospital system, and Merck eyes a Swiss biotech with a potential $3 billion price tag. Here's a rundown of these and other notable deal rumors from the last week.
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June 05, 2025
$1.36B Home Healthcare Deal Dropped Amid FTC Scrutiny
Healthcare solutions company Owens & Minor said Thursday that it's abandoning its $1.36 billion plan to buy home-based care business Rotech Healthcare Holdings after the Federal Trade Commission's scrutiny proved too much to bear.
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June 05, 2025
SEC Beats Challenge To Stricter Shareholder Proposal Rule
A Washington, D.C., federal judge Thursday upheld the U.S. Securities and Exchange Commission's rule that raises eligibility requirements for submitting shareholder proposals, disagreeing with investor advocacy groups that the requirements "severely impair" investors' input on corporate policies.
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June 05, 2025
SPAC Inks $4.75M Deal To End Merger Misrepresentation Suit
The directors and controlling stockholders of special purpose acquisition company Graf Industrial Corp. have agreed to pay $4.75 million to resolve claims that they misled investors ahead of a 2020 merger with Velodyne Lidar Inc.
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June 05, 2025
DOJ Wants Fix-It-1st Mergers, Not 'Fix-It-2nd'
The U.S. Department of Justice Antitrust Division's top merger official walked a fine line Wednesday between avoiding "a lingering regulatory review tax" on benign transactions and over-confident prognostications that markets will "self-correct" without intervention, and between encouraging companies to address concerns upfront and "shadow" settlements with the government.
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June 05, 2025
Katten, Covington Steer Deal In PE Billionaire's White Sox Bid
The Katten-advised Chicago White Sox announced Thursday that they have reached a long-term investment agreement that would pave the way for Covington-led private equity billionaire Justin Ishbia to obtain a controlling interest in the team.
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June 05, 2025
Norton Rose Adds Corporate Pro To Growing Chicago Office
Norton Rose Fulbright announced the growth of its Chicago office Thursday with the addition of a "highly regarded corporate lawyer," who will serve as a partner in the firm's business practice group and as a member of its transactional and regulatory insurance team.
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June 05, 2025
2 Firms Guide Vermillion In $120M Sale Of US Assets
Vermilion Energy Inc., advised by Torys LLP and Davis Graham & Stubbs LLP, said Thursday it has struck a deal to sell its remaining U.S. assets for $120 million in cash, completing its exit from the country and continuing its broader plan to refocus on long-term, gas-weighted assets in Canada and Europe.
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June 05, 2025
Conn. Atty Seeks Digital Data To Unmask Alleged ID Thief
Claggett Sykes & Garza LLC partner Andrew Garza told a Connecticut state court judge Thursday that someone used his identity to open bank accounts and file a fraudulent registration for his former law firm with the Secretary of the State's office, and he needs the court to order U.S. Bank and other companies to give him information that could reveal the perpetrator.
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June 05, 2025
Cellebrite Strikes $200M Deal To Buy Testing Co. Corellium
Data management and intelligence company Cellebrite DI Ltd. announced Thursday that it will spend up to $200 million to acquire Corellium, which offers a way to virtually test mobile systems.
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June 05, 2025
5 Firms Steer Self-Driving Truck Startup's $1.2B SPAC Merger
Self-driving truck software maker Plus Automation Inc. plans to go public at an estimated $1.2 billion valuation by merging with special purpose acquisition company Churchill Capital IX Corp., both parties announced Thursday, in a deal guided by five law firms.
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June 05, 2025
3 Firms Advise On $1.7B Sale Of Kleenex Maker Majority Stake
Kirkland & Ellis LLP and Baker McKenzie LLP are guiding Kimberly-Clark Corp. on a deal to sell a majority stake in its international tissue business to Freshfields LLP-advised Brazilian paper producer Suzano, in a deal announced Thursday that values the business at about $3.4 billion.Â
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June 05, 2025
Linklaters-Led Mitie Bids £366M For Compliance Biz Marlowe
Facilities service provider Mitie said Thursday it has agreed to acquire Marlowe, a regulatory compliance firm, in a cash-and-stock deal worth approximately £366 million ($497 million).
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June 05, 2025
Bernstein Litowitz Can Hire Ex-SEC Atty Over Musk Objection
A New York federal judge on Thursday gave the all-clear for investor-side firm Bernstein Litowitz Berger & Grossmann LLP to hire the U.S. Securities and Exchange Commission's former litigation chief over the objections of Elon Musk.
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June 05, 2025
Court Sanctions Miami's £70M Bid For European Exchanges
A court in Jersey has given its nod to the owner of the Bermuda Stock Exchange for the takeover of The International Stock Exchange Group in a deal worth approximately £70.4 million ($96 million), the companies said Thursday.
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June 04, 2025
23andMe, Bidders Agree To Post-Ch. 11 Auction Offer Process
The winner of 23andMe's Chapter 11 auction and a nonprofit started by its co-founder can improve their offers to acquire the DNA testing company under procedures agreed to Wednesday in Missouri bankruptcy court, despite disruptions from a tornado warning and an attorney letting slip nonpublic details of an offer.
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June 04, 2025
NC Biz Court Bulletin: TikTok Tussle And Merger Melee
Spring has sprung momentous decisions and quiet resolutions in some of the North Carolina Business Court's top cases, from clearing for trial the attorney general's suit over a hospital's post-merger standard of care to Cadwalader Wickersham & Taft LLP dropping its coverage dispute over a 2022 data breach.
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June 04, 2025
FTC Fights Attys Who Want State Bar Input On Ethics Worries
The Federal Trade Commission doesn't want staff attorneys to be able to seek state bar association guidance if they dispute the legality of an instruction, arguing in a fight with the FTC's union that seeking such guidance would gum up the gears of commission work.
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June 04, 2025
Dish Wants Court To Act On T-Mobile Case Discovery Dispute
Dish told an Illinois federal judge it is at an impasse with wireless customer plaintiffs seeking documents in their case against T-Mobile over its 2020 acquisition of Sprint, saying it met with the plaintiffs four times regarding their subpoenas, but the sides have been unable to find a compromise.
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June 04, 2025
Davis Polk, Skadden Guide Circle's Upsized $1B IPO
Venture-backed stablecoin issuer Circle Internet Group Inc. on Wednesday priced an upsized $1.05 billion initial public offering above its marketed range amid strong demand, represented by Davis Polk & Wardwell LLP and underwriters counsel Skadden Arps Slate Meagher & Flom LLP.
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June 04, 2025
Datasite Acquires Grata To Bolster AI-Driven Market Platform
Cloud-based merger and acquisitions software provider Datasite, advised by Wilkie Farr & Gallagher LLP, said Tuesday it has acquired Grata, a private market intelligence company represented by Orrick Herrington & Sutcliffe LLP, in a deal aimed at bolstering Datasite's AI-driven sourcing and research capabilities.
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June 04, 2025
Trump Nominates Ex-SBA Official For Top CFIUS Post
A former U.S. Small Business Administration official from Donald Trump's first term has been nominated by the president to lead the U.S. government panel that reviews foreign investments for national security risks.
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June 04, 2025
FTC Can't Exclude TikTok Blackout From Meta Case
Meta Platforms can point to TikTok briefly going dark at the beginning of 2025 as it tries to fend off claims that it is monopolizing the social media market, after a D.C. federal judge refused to let the Federal Trade Commission lock the case to evidence from the year 2023.
Expert Analysis
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Opinion
Inconsistent Injury-In-Fact Rules Hinder Federal Practice
A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.
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In-House Counsel Pointers For Preserving Atty-Client Privilege
Several recent rulings illustrate the challenges in-house counsel can face when attempting to preserve attorney-client privilege, but a few best practices can help safeguard communications and effectively assert the privilege in an increasingly scrutinized corporate environment, says Daniel Garrie at Law & Forensics.
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Series
Collecting Rare Books Makes Me A Better Lawyer
My collection of rare books includes several written or owned by prominent lawyers from early U.S. history, and immersing myself in their stories helps me feel a deeper connection to my legal practice and its purpose, says Douglas Brown at Manatt Health.
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Rethinking How To Engage Shareholders, Activists Via Proxies
​​​​​​​This proxy season, companies should consider visually driven proxy statements that highlight the board's strengths, the alignment between executive compensation and performance, and a commitment to sustainability and risk management to earn the support of investors and fend off hostile acquirers, say Craig Clay and Ron Schneider at DFIN.
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Tips For Pharma-Biotech Overlap Reporting In New HSR Form
While there’s no secret recipe for reporting overlaps to the Federal Trade Commission in the new Hart-Scott-Rodino Act form, there are several layers of considerations for all pharma-biotech companies and counsel to reflect on internally before reporting on any deal, say attorneys at A&O Shearman.
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Opinion
Judge Should Not Have Been Reprimanded For Alito Essay
Senior U.S. District Judge Michael Ponsor's New York Times essay critiquing Supreme Court Justice Samuel Alito for potential ethical violations absolutely cannot be construed as conduct prejudicial to the administration of the business of the courts, says Ashley London at the Thomas R. Kline School of Law of Duquesne University.
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Lights, Camera, Ethics? TV Lawyers Tend To Set Bad Example
Though fictional movies and television shows portraying lawyers are fun to watch, Hollywood’s inaccurate depictions of legal ethics can desensitize attorneys to ethics violations and lead real-life clients to believe that good lawyers take a scorched-earth approach, says Nancy Rapoport at the University of Nevada, Las Vegas.
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Steel Cases Test Executive Authority, Judicial Scope
Lawsuits challenging former President Joe Biden’s order blocking the merger of Japan's Nippon Steel and U.S. Steel may shape how future administrations wield presidential authority over foreign investment in the name of national security, says Hdeel Abdelhady at MassPoint Legal.
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Del. Ruling Further Narrows Scope Of 'Bump-Up' Exclusion
The recent Delaware Superior Court ruling in Harman International v. Illinois National Insurance offers a critical framework for interpreting bump-up exclusions in management liability insurance policies, and follows the case law trend of narrow interpretation of such exclusions, says Simone Haugen at Tressler.
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Will 4th Time Be A Charm For NY's 21st Century Antitrust Act?
New York's recently introduced 21st Century Antitrust Act would change the landscape of antitrust enforcement in the state and probably result in a sharp increase in claims — but first, the bill needs to gain traction after three aborted attempts, says Tyler Ross at Shinder Cantor.
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Perspectives
Accountant-Owned Law Firms Could Blur Ethical Lines
KPMG’s recent application to open a legal practice in Arizona represents the first overture by an accounting firm to take advantage of the state’s relaxed law firm ownership rules, but enforcing and supervising the practice of law by nonattorneys could prove particularly challenging, says Seth Laver at Goldberg Segalla.
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How FTC Consumer Protection May Fare Under Reg Freeze
Attorneys at Crowell & Moring consider how President Donald Trump's executive order directing agencies to freeze all pending rulemaking activity may frustrate any Federal Trade Commission efforts to change or eliminate rules that made it across the finish line before the inauguration.
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Critical Steps For Navigating Intensified OFAC Enforcement
The largely overlooked SkyGeek settlement from the end of 2024 heralds the arrival of the Office of Foreign Assets Control's long anticipated enhanced enforcement posture and clearly demonstrates the sanctions-compliance benefits of immediately responding to blocked payments, says Jeremy Paner at Hughes Hubbard.
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AI Will Soon Transform The E-Discovery Industrial Complex
Todd Itami at Covington discusses how generative artificial intelligence will reshape the current e-discovery paradigm, replacing the blunt instrument of data handling with a laser scalpel of fully integrated enterprise solutions — after first making e-discovery processes technically and legally harder.
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IP, Licensing, M&A Trends To Watch In Life Sciences This Year
2025 promises to continue an exciting trajectory for the life sciences industry, with major trends ranging from global harmonization of intellectual property to cross-border licensing activity and an increase of nontraditional financial participants in the mergers and acquisition space, say attorneys at Morgan Lewis.