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Mergers & Acquisitions
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August 22, 2025
Groups Say T-Mobile-UScellular Deal Needed Full FCC Vote
Three telecom groups are not pleased with the FCC's decision to delegate to an agency bureau the responsibility of approving the license transfers T-Mobile needed to complete its $4.4 billion acquisition of UScellular wireless operations, calling it an "error of law."
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August 22, 2025
DLA Piper Boosts VC Practice With Goodwin Atty In NY
DLA Piper has added a longtime Goodwin Procter LLP partner to its emerging growth and venture capital practice in New York, the firm announced.
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August 22, 2025
General Atlantic Plugs $115M Into Brazilian Software Biz
Brazilian software provider Starian on Friday revealed that it has secured more than $115 million in strategic funding from investing giant General Atlantic.
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August 22, 2025
Taxation With Representation: Kirkland, Weil, Fried Frank
In this week's Taxation With Representation, private equity firm Thoma Bravo buys human resources software provider Dayforce Inc. in a take-private deal, Lowe's buys Foundation Building Materials, Nexstar Media Group Inc. acquires fellow media company Tegna Inc., and Soho House & Co. Inc. inks a take-private deal with hotel operator MCR.
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August 22, 2025
4 Firms Advise On $5.7B Cenovus-MEG Energy Deal
Cenovus Energy said Friday it will buy rival Canadian oil sands producer MEG Energy in a cash-and-stock deal valued at CA$7.9 billion ($5.7 billion), including debt, as it looks to consolidate operations in the Christina Lake region of northeast Alberta and beats out a competing bid from Strathcona Resources.
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August 22, 2025
Food And Beverage-Focused SPAC Eyes $100M IPO
AA Mission Acquisition Corp. II, a special purpose acquisition company targeting the food and beverage industry, filed plans with U.S. regulators to raise up to $100 million in its initial public offering.
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August 22, 2025
UK Launches Formal Probe Into Getty-Shutterstock Merger
Britain's antitrust authority said Friday that it has launched a formal investigation into the proposed merger of Getty Images and Shutterstock, which would create a $3.7 billion visual content company, to decide whether it will harm competition in U.K. markets.
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August 22, 2025
Air Liquide To Buy Korean Gas Supplier In €2.8B Deal
Air Liquide said Friday it has agreed to buy South Korean rival DIG Airgas from funds managed by Macquarie for an enterprise value of €2.85 billion ($3.31 billion) as the French company seeks to bolster its presence in the Asian market.
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August 21, 2025
1st Circ. Rejects Flyers' $34M Fee Bid In JetBlue-Spirit Case
Passengers who launched an antitrust challenge to the since-scrapped JetBlue-Spirit Airlines merger are not eligible to collect up to $34 million in legal fees, the First Circuit ruled Thursday, finding that because the deal was blocked in a parallel government case, the passengers are not actually the prevailing parties.
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August 21, 2025
Nikola SPAC, Related Settlements Reach $33.75M In Del.
A multi-court string of settlements has produced a $33.75 million proposed payout for stockholders who alleged in direct and derivative state and federal actions that they were misled in deals that took electric vehicle maker Nikola Corp. public.
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August 21, 2025
Home Depot's $5.5B GMS Deal Gets DOJ Clearance
The U.S. Department of Justice has prematurely ended a waiting period that prevented Home Depot's $5.5 billion acquisition of building products distributor GMS Inc. from closing, a day before the home improvement retailer's Friday cash tender offer expiration date, Home Depot announced on Thursday.
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August 21, 2025
5 Firms Advise On $1.5B International Paper Fiber Biz Sale
International Paper Co. has agreed to sell its global cellulose fiber business to private equity firm American Industrial Partners for $1.5 billion, part of a broader effort to focus on sustainable packaging solutions, in a deal steered by five law firms, the companies said on Thursday.
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August 21, 2025
V&E, Kirkland Steer Blackstone's $1.6B Shermco Buy
Private equity giant Blackstone, advised by Vinson & Elkins LLP, on Thursday unveiled plans to buy electrical equipment services company Shermco from middle-market private equity shop Gryphon Investors, both advised by Kirkland & Ellis LLP, in a $1.6 billion deal.
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August 21, 2025
KKR Leads Bidding War For Nissan HQ, Plus More Rumors
Private equity firm KKR is said to be dominating in a bidding war for Nissan Motor's headquarters in Japan, Jared Kushner's private equity firm is rumored to have taken a minority stake in British bank OakNorth, and railroad giant CSX is reportedly facing pressure from activist investment firms to pursue a merger. Here, Law360 breaks down these and other deal rumors from the past week.
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August 21, 2025
Alston & Bird Hires Former FTC M&A Overseer In DC
The former leader of the Federal Trade Commission's Bureau of Competition unit dedicated to reviewing mergers and acquisitions is joining the antitrust team at Alston & Bird LLP's Washington, D.C., office, the firm announced Wednesday.
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August 21, 2025
Wachtell, Kirkland Advise On $12.3B Dayforce Take-Private
Wachtell Lipton is advising Dayforce Inc. on a new agreement to be taken private by Thoma Bravo, represented by Kirkland & Ellis, in an all-cash transaction with an enterprise value of $12.3 billion, Dayforce announced Thursday.Â
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August 21, 2025
Cantor Equity Partners IV Begins Trading After $400M IPO
Special purpose acquisition company Cantor Equity Partners IV Inc., sponsored by private equity giant Cantor Fitzgerald, hit the public markets Thursday after pricing its $400 million initial public offering the day prior.
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August 20, 2025
Judge Keeps Yale-Prospect Medical Sale Feud In Ch. 11 Court
A Texas bankruptcy judge on Wednesday paused Yale New Haven Health Services Corp.'s request to reopen a $435 million Connecticut feud over a deal to purchase three hospitals from debtor Prospect Medical Holdings Inc., saying she first wants to hear Prospect's plan to repair the troubled contract.
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August 20, 2025
Wash. AG Wins $28M In Fees In Kroger-Albertsons Deal Fight
A Washington judge has awarded the state attorney general's office $28.4 million in legal fees for its efforts to block the merger between Kroger and Albertsons that was also challenged by the Federal Trade Commission, largely rejecting the grocery giants' objections to a total fee request of $32.4 million.
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August 20, 2025
Twitter Shareholders Say Musk Can't Hide Behind Attys
Twitter shareholders have asked a New York federal judge to force Elon Musk to either hand over discussions he had with his attorneys prior to his pre-acquisition purchase of Twitter shares or to declare that he does not plan to use the advice of counsel defense, saying Musk cannot use his attorneys as both "a sword and a shield."
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August 20, 2025
Device Co. Pans FTC's Resistance To $945M Heart Valve Deal
Edwards Lifesciences Corp. is defending its planned $945 million purchase of JenaValve Technology Inc., telling the Federal Trade Commission the deal is the best way to bring a new lifesaving treatment for a heart valve disorder to the market.
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August 20, 2025
Authentic Brands, Guess Founders Take Biz Private For $1.4B
Luxury apparel company Guess Inc. on Wednesday revealed plans to go private through a sale to a group that includes its founders, CEO and brand platform giant Authentic Brands Group, in a deal that was built by seven law firms and values the clothing company at $1.4 billion, including debt.
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August 20, 2025
Claire's Pitches Over $104M Sale Of US Stores In Ch. 11
Bankrupt jewelry chain Claire's announced plans Wednesday to sell intellectual property and some of its U.S. stores to a private holding company for $104 million in cash as well as other inducements.
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August 20, 2025
Freshfields, Weil Build Lowe's $8.8B FBM Buy
Home improvement giant Lowe's, advised by Freshfields LLP, on Wednesday unveiled plans to buy private equity-backed Foundation Building Materials, led by Weil Gotshal & Manges LLP, in an $8.8 billion deal meant to create a "premier" business to better serve Lowe's home improvement for professionals platform.
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August 20, 2025
Simpson-Led Rosebank Completes £1.5B Electrical Biz Deal
Rosebank Industries PLC said Wednesday that it has completed its acquisition, worth approximately £1.5 billion ($2 billion), of Electrical Components International from Cerberus Capital Management LLP.
Expert Analysis
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A Cold War-Era History Lesson On Due Process
The landmark Harry Bridges case from the mid-20th century Red Scare offers important insights on why lawyers must be free of government reprisal, no matter who their client is, says Peter Afrasiabi at One LLP.
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Series
Improv Makes Me A Better Lawyer
Improv keeps me grounded and connected to what matters most, including in my legal career where it has helped me to maintain a balance between being analytical, precise and professional, and creative, authentic and open-minded, says Justine Gottshall at InfoLawGroup.
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How BigLaw Executive Orders May Affect Smaller Firms
Because of the types of cases they take on, solo practitioners, small law firms and public interest attorneys may find themselves more dramatically affected by the collective impact of recent government action involving the legal industry than even the BigLaw firms named in the executive orders, says Reuben Guttman at Guttman Buschner.
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4th Circ. Health Data Ruling Opens Door To State Law Claims
In Real Time Medical v. PointClickCare, the Fourth Circuit recently clarified that state law claims can rest in part on violations of a federal law that prohibits electronic health information blocking, expanding legal risks for health IT companies and potentially creating exposure to a range of competitive implications, say attorneys at BCLP.
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Opinion
Lawsuits Shouldn't Be Shadow Assets For Foreign Capital
Third-party litigation financing amplifies inefficiencies from litigation and facilitates national exposure to foreign influence in the U.S. justice system, so full disclosure of financing arrangements should be required as a matter of institutional integrity, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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2 Del. Rulings Reinforce Proof Needed For Records Demands
Two recent Delaware Court of Chancery decisions involving Amazon and Paramount Global illustrate the significance of the credible basis standard on books and records requests, underscoring that stockholders seeking to investigate wrongdoing must come forward with actual evidence of misconduct — not mere allegations, say attorneys at Cleary.
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How To Accelerate Your Post-Attorney Career Transition
Professionals seeking to transition to nonattorney careers may encounter skepticism as nontraditional candidates, but there are opportunities for thought leadership and to leverage speaking and writing to accelerate a post-attorney career transition, say Janet Falk at Falk Communications and Evgeny Efremkin at Toronto Metropolitan University.
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Key Takeaways From The 2025 Spring Antitrust Meeting
Leadership changes, shifting priorities and evolving enforcement tools dominated the conversation at the recent American Bar Association Spring Antitrust Meeting, as panelists explored competition policy under a second Trump administration, agency discretion under the 2023 merger guidelines and new frontiers in conduct enforcement, say attorneys at Freshfields.
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How Tariffs May Affect Proxy Contests This Season
While global tariffs imposed by the Trump administration will certainly chill at least some activity this proxy season, and make defending contests significantly easier, there will likely be many new activist investments once there is more economic certainty, meaning more proxy fights this fall, say attorneys at Sidley.
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A Closer Look At New NYSE, Nasdaq Listing Rule Changes
The U.S. Securities and Exchange Commission has recently approved changes to the New York Stock Exchange's and the Nasdaq's listing rules on reverse stock splits, minimum share price requirements and required liquidity for initial listings, meaning listed companies facing delisting will have fewer means to regain compliance, say attorneys at Cahill Gordon.
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Series
Law School's Missed Lessons: Be An Indispensable Associate
While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.
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23andMe Case Highlights Privacy Complexities In Ch. 11
Attorneys at Pryor Cashman discuss the interplay between a sale of personally identifiable information and bankruptcy law in light of genetics and health company 23andMe's recent filing for Chapter 11 relief.
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SEC Confidential Review Process Provides Issuers Flexibility
The U.S. Securities and Exchange Commission's recently announced enhancements to the process for confidentially submitting draft registration statements will be immediately impactful for issuers seeking to access the public capital markets, and should provide more grounds to explore and plan public offerings, say attorneys at Lowenstein Sandler.
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Series
Birding Makes Me A Better Lawyer
Observing and documenting birds in their natural habitats fosters patience, sharpens observational skills and provides moments of pure wonder — qualities that foster personal growth and enrich my legal career, says Allison Raley at Arnall Golden.
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How Del. Law Rework Limits Corporate Records Requests
Newly enacted amendments to a section of the Delaware General Corporation Law that allows stockholders and beneficial owners to demand inspection of Delaware corporations' books and records likely curtails the scope of such inspections and aids defendants in framing motions to dismiss at the pleading stage, says Jonathan Richman at Brown Rudnick.