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Mergers & Acquisitions
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May 20, 2025
Nextdoor Beats Investor Suit Over Post-SPAC Profitability
A California federal judge has tossed a shareholder class action that alleges hyperlocal social networking service Nextdoor Holdings Inc. misled investors about its projected profitability when combining with a special purpose acquisition company, saying the suit's plaintiff never owned or sold the company's securities before the merger, among other things.Â
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May 20, 2025
Meta Says Too Late For 'Dramatic Shift' In Antitrust Argument
Consumers who claim Meta monopolized the social media advertising market are attempting to make a late "dramatic shift" from their years-long argument that all of its users should have been paid a "made-up figure" of $5 a month for their data, the company told a California federal court Monday.
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May 20, 2025
Beach Point Nabs Nearly $1.3B For Private Credit, Real Estate
Beach Point Capital Management said Tuesday it has raised nearly $1.3 billion across two investment funds, as it continues to build out its offerings in private credit and real estate.
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May 20, 2025
Judge Denies Meta's Mid-Trial Bid To End FTC Monopoly Case
A D.C. federal judge refused Tuesday to cut short the trial in the Federal Trade Commission's monopolization lawsuit against Meta Platforms Inc., not finding the clear evidentiary failure necessary to nix the government's case over the company's purchases of WhatsApp and Instagram.
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May 20, 2025
Greenberg Traurig, Gibson Dunn Guide $865M Ariz. Hotel Sale
Ryman Hospitality Properties Inc. has purchased a Marriott-branded Phoenix resort from Trinity Investments for $865 million in a deal guided by Gibson Dunn and Greenberg Traurig, per statements from the buyer and seller.
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May 20, 2025
Cleary Guides Up To $391M Sale Of Levi Strauss' Dockers Line
Levi Strauss & Co. said Tuesday that it will offload its Dockers brand to Authentic Brands Group in a deal worth up to $391 million, signaling the company's intensified focus on its denim lines and the growth of its Beyond Yoga business.
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May 20, 2025
Holland & Knight Adds Employment Litigator To DC-Area Office
Holland & Knight LLP has hired a longtime employment litigator from Quarles & Brady LLP, who joins the firm in Tysons, Virginia, to continue her practice litigating restrictive covenants, business torts and trade secrets.
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May 20, 2025
Engineer Renold Faces Competing Bids Worth Up To £183M
Renold PLC said Tuesday that it is being circled by private equity firms after receiving two separate takeover bids that would pull the British engineering firm from London's junior market.
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May 20, 2025
Ithaca To Boost Stake In UK Gas Field With £116M Deal
Ithaca Energy said Tuesday that it has agreed to acquire a 46.25% stake in a North Sea gas field from a joint venture between British Gas-owner Centrica and a German company for £116 million ($155 million) as the business looks to expand its portfolio.
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May 19, 2025
SEC's 'Shadow Trading' Win Should Be Tossed, 9th Circ. Told
An ex-Medivation Inc. executive found liable in the U.S. Securities and Exchange Commission's first-ever "shadow trading" case has asked the Ninth Circuit to overturn the verdict, arguing that his company's policies should have kept the matter from going to a jury in the first place.
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May 19, 2025
Cepton Sued In Del. Over $125M Koito Take-Private Deal
A Cepton Inc. stockholder has launched a proposed class action challenging the light detection and ranging technology company's $3.17-per-share, $125.4 million take-private acquisition by Japan-based Koito Manufacturing Inc. in Delaware's Court of Chancery, alleging fiduciary breaches by the company's CEO, four directors and the deal's investment banker.
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May 19, 2025
FCC's Carr Claims Victory Versus DEI In Verizon-Frontier OK
Verizon took a leap toward closing its $20 billion bid for Frontier Communications by gaining the Federal Communications Commission's approval after ditching its diversity, equity and inclusion programs at the behest of FCC Chair Brendan Carr.
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May 19, 2025
Insurer Drops Fight Over $9M OpenText Merger Settlement
Allied World National Assurance Company on Monday ended its lawsuit seeking a declaration that it wasn't obligated to contribute to a $9 million settlement in a shareholder class action stemming from Covisint Corp.'s merger with OpenText.
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May 19, 2025
Tyson Says Feed Ingredient Co.'s Suppliers Chose It Fairly
Tyson Foods asked a Georgia federal judge to nix a poultry rendering company's antitrust lawsuit, arguing the evidence shows that contracts it inked with the company's raw materials suppliers were won out of competition, not conspiracy to force the rendering firm into an underpriced $865.8 million buyout.
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May 19, 2025
NY AG Blasts Ski Resort Owner's Antitrust Fixes
The New York Attorney General's Office has told a state court that alternative fixes being offered by a ski resort owner found to have violated antitrust law by buying and closing a competitor would "entrench the very monopoly" the court found illegal.
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May 19, 2025
Wachtell-Led Regeneron To Buy 23andMe, Gaining User Data
Regeneron Pharmaceuticals said Monday it emerged as the winning bidder for 23andMe, agreeing to pay $256 million to scoop the once high-flying consumer genomics firm out of bankruptcy while pledging to uphold strict privacy standards.
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May 19, 2025
Covington Corporate M&A Atty Moves To Clifford Chance
Clifford Chance LLP has hired a Covington & Burling LLP partner for its U.S. corporate mergers and acquisitions practice to strengthen its capabilities in the healthcare and life sciences sector, the firm said Monday.
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May 19, 2025
Mayer Brown Taps Sidley Attorney As Practice Co-Lead
Mayer Brown LLP announced Monday that it has appointed a former Sidley Austin LLP attorney in New York to co-lead its financial services mergers and acquisitions practice.
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May 19, 2025
Proskauer Adds Another M&A Atty In NYC From Ropes & Gray
Proskauer Rose LLP announced Monday that it has brought another Ropes & Gray LLP attorney specializing in distressed mergers and acquisitions to its New York office.
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May 19, 2025
Latham, A&O Shearman Guide $3B AI Manufacturing Deal
Latham & Watkins LLP and Allen Overy Shearman Sterling advised AMD on a $3 billion deal to sell its ZT Systems data center infrastructure manufacturing business to U.S.-based Sanmina in an agreement to expand domestic production for AMD's artificial intelligence offerings.
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May 19, 2025
Aircraft Parts Co. TransDigm Nabs Servotronics In $110M Deal
BakerHostetler-advised aircraft component producer TransDigm Group Inc. on Monday announced plans to acquire servo valve maker Servotronics Inc., led by Bond Schoeneck & King PLLC, in a $110 million deal.
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May 19, 2025
Kirkland Guides Blackstone's $11.5B Deal For TXNM Energy
Blackstone Infrastructure has agreed to acquire regulated utility holding company TXNM Energy in an all-cash transaction valued at $11.5 billion, including net debt and preferred stock, TXNM said in a Monday announcement.
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May 19, 2025
Dutch Investor Launches €4.1B Offer For Just Eat Takeaway
Dutch investment group Prosus said Monday that it has launched a formal offer to acquire Just Eat Takeaway.com in a €4.1 billion ($4.6 billion) take-private deal to "build a Europe-based food delivery champion" after they reached a conditional agreement in February.
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May 19, 2025
KKR, Stonepeak Take Swipe At PHP's Rival Bid For Assura
U.S. private equity firms KKR and Stonepeak urged shareholders in property manager Assura on Monday to back their £1.6 billion ($2.1 billion) takeover offer, saying that a rival £1.7 billion bid could be financially risky and harmful.
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May 16, 2025
No 'Magic Words' Needed To Sue KKR For Hiding Deals, DOJ Says
KKR is trying to duck a U.S. Department of Justice lawsuit seeking fines that could top $650 million, by reading standards for seeking penalties that are not there, the government said Thursday, defending claims that the private equity giant failed to notify two mergers and deleted key documentation from notifications.
Expert Analysis
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Anticipating Calif. Oversight Of PE Participation In Healthcare
A new bill recently introduced in the California Senate revives last year's attempt to increase oversight of healthcare transactions involving private equity groups and hedge funds, meaning that attorneys may soon need to assess the compliance status of existing management relationships and consider modifying contract terms, says Andrew Demetriou at Husch Blackwell.
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When Reincorporation Out Of Del. Isn't A Good Idea
While recent high-profile corporate moves out of Delaware have prompted discussion about the benefits of incorporation elsewhere, for many, remaining in the First State may be the right decision due to its deep body of business law, tradition of nonjury trials and other factors, say attorneys at Goodwin.
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New HSR Rules Augur A Deeper Antitrust Review By Agencies
After some initial uncertainty, the new Hart-Scott-Rodino Act rules did go into effect last month, and though their increased information requirements create greater initial burdens for merging parties, the rules should lead to greater certainty and predictability through a more efficient and effective review process, says Craig Malam at Edgeworth Economics.
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Why Acquirers Should Reevaluate Federal Contract Risk
Long thought of as a stable investment, the scale with which the Trump administration is attempting to eliminate federal contracts is unprecedented, and acquirer considerations should include the size and scope of all active and pending government contracts of target companies, say attorneys at Winston & Strawn.
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Opinion
SEC Defense Bar Should Pursue Sanctions Flexibility Now
The U.S. Securities and Exchange Commission defense bar has an opening under the new administration to propose flexible, tailored sanctions that can substantially remediate misconduct and prevent future wrongdoing instead of onerous penalties, which could set sanctions precedent for years to come, says Josh Hess at BCLP.
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7 Tips For Associates To Thrive In Hybrid Work Environments
Excerpt from
As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.
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Series
Playing Beach Volleyball Makes Me A Better Lawyer
My commitment to beach volleyball has become integral to my performance as an attorney, with the sport continually reminding me that teamwork, perseverance, professionalism and stress management are essential to both undertakings, says Amy Drushal at Trenam.
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How Law Firms Can Counteract The Loneliness Epidemic
The legal industry is facing an urgent epidemic of loneliness, affecting lawyer well-being, productivity, retention and profitability, and law firm leaders should take concrete steps to encourage the development of genuine workplace connections, says Michelle Gomez at Littler and Gwen Mellor Romans at Herald Talent.
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Opinion
DOJ's HPE-Juniper Challenge Is Not Rooted In Law
Legal precedents that date back as far as 1990 demonstrate that the U.S. Department of Justice's recent challenge to the proposed $14 billion merger between Hewlett Packard and Juniper is misplaced because no evidence of collusion or coordinated conduct exists, says Thomas Stratmann at George Mason University.
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5 Keys To Building Stronger Attorney-Client Relationships
Attorneys are often focused on being seen as the expert, but bonding with clients and prospects by sharing a few key personal details provides the basis for a caring, trusted and profoundly deeper business relationship, says Deb Feder at Feder Development.
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How Rising Secondary Private Markets Affect Tech Disputes
The rise of secondaries is a natural by-product of growing and evolving private markets and, as such, we can expect their growth will continue, signaling an increase in the use of secondaries in damages as well as litigation revolving around secondaries themselves, says Farooq Javed at The Brattle Group.
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How The AI Antitrust Landscape Might Evolve Under Trump
The Trump administration's early actions around artificial intelligence and antitrust policy, along with statements from competition regulators, suggest that the AI competition landscape may see reduced scrutiny around acquisitions, but not an entirely hands-off enforcement approach, say attorneys at Hogan Lovells.
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Series
Racing Corvettes Makes Me A Better Lawyer
The skills I use when racing Corvettes have enhanced my legal practice in several ways, because driving, like practicing law, requires precision, awareness and a good set of brakes — complete with the wisdom to know how and when to use them, says Kat Mateo at Olshan Frome.
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Bill Would Bring Welcome Clarity To Del. Corporate Law
A recently proposed bill in Delaware that would provide greater predictability for areas including director independence and controlling stockholders reflects prudential adjustments consistent with the state's long history of refining and modernizing its corporate law, say attorneys at Simpson Thacher.
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Opinion
Attorneys Must Act Now To Protect Judicial Independence
Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and resist attempts to dilute the judicial branch’s authority, says attorney Bhavleen Sabharwal.