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Mergers & Acquisitions
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June 09, 2025
Simpson Thacher Mourns Chair, Pioneering Dealmaker Beattie
Richard "Dick" Beattie, the senior chairman of Simpson Thacher & Bartlett LLP whose pioneering deal work helped cement private equity's place in mergers and acquisitions, died on Friday at 86, the firm announced.
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June 09, 2025
Precision Tools Co. Spectris To Back £3.7B Advent PE Bid
Spectris, a British manufacturer of high-tech instruments, said Monday that it would probably back a proposed £3.7 billion ($5 billion) takeover offer from U.S. private equity company Advent International Corp., a deal in which the company would withdraw its listing from the London Stock Exchange.
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June 09, 2025
Solar Mosaic Files Ch. 11 As Congress Plans Tax Credit Cuts
Home solar panel financing company Solar Mosaic has filed for Chapter 11 protection in a Texas bankruptcy court with more than $264 million in debt and sale plans, saying it is facing a contracting solar energy market and uncertainty over the future of federal solar panel tax credits.
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June 09, 2025
Crane Co. Nabs Baker Hughes' PSI Biz In $1.15B Deal
Industrial manufacturing and technology company Crane Co., led by K&L Gates LLP, announced plans Monday to acquire Precision Sensors & Instrumentation from energy technology company Baker Hughes, advised by Baker McKenzie, for roughly $1.15 billion in cash.
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June 09, 2025
A&O Shearman-Led L'Oréal To Buy Majority Stake In Medik8
L'Oréal SA said Monday that it has agreed to acquire a majority stake in British premium skincare brand Medik8 from European private equity firm Inflexion as the cosmetics giant seeks to expand its top-end brand Luxe.
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June 09, 2025
Paul Weiss-Led Computer Biz IonQ To Buy UK Rival For $1B
Quantum computing company IonQ Inc. said Monday that it has agreed to acquire Oxford Ionics Ltd. for approximately $1.08 billion in a deal guided by Paul Weiss and Hogan Lovells that could bring "breakthroughs in quantum computing."
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June 09, 2025
Paul Weiss Guides Qualcomm's $2.4B Alphawave IP Takeover
Semiconductor-maker Qualcomm Inc. said Monday that it will buy Alphawave IP for $2.4 billion in a deal that will pull the British chip designer from the London Stock Exchange.
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June 06, 2025
FTC Scoffs At Meta's Accusation Of 'Biased' Econ Expert
The FTC on Friday urged a Washington, D.C., federal judge to reject Meta's bid to strike testimony the agency's lead economics expert gave during the antitrust trial over Meta's purchase of Instagram and WhatsApp, scoffing at the allegation the New York University School of Law professor is biased.
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June 06, 2025
Circle's Smash IPO Could Pave Way For More Crypto Listings
Stablecoin issuer Circle's explosive debut will likely stimulate more crypto listings and possibly jolt the broader pipeline of initial public offerings, capital markets attorneys say.
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June 06, 2025
WaPo Can't Exit Trump Media's Defamation Suit, Judge Says
The Washington Post must face Trump Media & Technology Group's suit over an article accusing it of committing securities fraud over a purported finder's fee paid to Entoro Securities to secure a loan, a Florida federal judge said Friday, ruling Trump Media's latest pleading "squarely alleges" no fee agreement existed.
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June 06, 2025
Execs Hid Jewelry Co. Accounting Issues, Suit Says
Executives of Compass Diversified Holdings have been hit with a derivative shareholder suit in a California federal court for allegedly making misleading statements about the investment firm's financial condition, stemming from accounting irregularities at a jewelry company the firm acquired.
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June 06, 2025
Ex-CEO Nets Deal With PE Firm To End Dispute Over Firing
The former CEO of a defense industry supplier has settled his lawsuit alleging he was duped into taking the job by a North Carolina private equity firm and then fired for refusing to go along with fibs about its financial future to a major client, according to a notice filed Friday.
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June 06, 2025
Greenberg Traurig Adds Clifford Chance Private Funds Atty
Greenberg Traurig LLP said Friday that it has added Daniel F. Rayner to its corporate private funds group from Clifford Chance LLP.
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June 06, 2025
Taxation With Representation: Winston, Stibbe, Weil, Goodwin
In this week's Taxation With Representation, Chart Industries Inc. and Flowserve Corp. merge, Aedifica NV and Cofinimmo NV unite, Sanofi buys Blueprint Medicines Corp., and Kimberly-Clark Corp. sells a majority stake in its international tissue business to Suzano.
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June 06, 2025
Off The Bench: NASCAR Antitrust Saga, White Sox Transfer
In this week's Off The Bench, an appeals court says Michael Jordan's auto racing team cannot compete amid an antitrust suit against NASCAR, the Chicago White Sox start a long ownership transfer process, and the woman who accused a college football coach of sexual harassment sues the university over its handling of the complaint.
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June 06, 2025
Simpson Thacher-Led Rosebank To Raise £1.14B For Buy
Rosebank said Friday that it will raise up to £1.14 billion ($1.54 billion) in equity to partly fund the acquisition of Electrical Components International in a reverse takeover transaction, with plans to "double shareholders' investment in three to five years."
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June 06, 2025
Mayer Brown Adds Partner To NY Corporate, Securities Team
Aideen Brennan, a former mergers and acquisitions and private equity senior managing associate at Sidley Austin, has joined Mayer Brown's global corporate and securities practice as a partner in New York.
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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.
Expert Analysis
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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.
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Rethinking 'No Comment' For Clients Facing Public Crises
“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
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Del. Supreme Court TripAdvisor Ruling May Limit 'MFW Creep'
The Delaware Supreme Court's recent Maffei v. Palkon ruling regarding TripAdvisor's proposed reincorporation to Nevada potentially signals a turning point in the trend of expanding the protections from Kahn v. M&F Worldwide to other types of transactions, says Andrew J. Haile at Elon University.
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Antitrust In Retail: Rude Awakening For FTC In Tempur Sealy
A Texas federal court's recent denial of a Federal Trade Commision order to stop a giant mattress merger because of lack of evidence on market segments shows that such definitions are only a viable path for regulating vertical mergers if antitrust agencies provide adequate documentation, says David Kully at Holland & Knight.
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How Design Thinking Can Help Lawyers Find Purpose In Work
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.
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Opinion
US Steel-Nippon Merger Should Not Have Been Blocked
The Biden administration's block of the U.S. Steel and Nippon Steel merger on national security grounds was unconstitutional overreach and needs to be overturned, with the harms remedied in federal court, says attorney Chuck Meyer.
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Biden-Era M&A Data Shows Continuity, Not Revolution
While the federal antitrust agencies under former President Joe Biden made broad claims about increasing merger enforcement activity, the data tells a different story, with key claims under Biden coming in at the lowest levels in decades, say attorneys at Covington.
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What Travis Hill's Vision For FDIC Could Portend For Banks
If selected to lead the Federal Deposit Insurance Corp. in a permanent capacity, acting Chairman Travis Hill is likely to prioritize removing barriers to innovation and institution-level growth, emphasizing the idea that eliminating rules, relaxing standards and reducing scrutiny will reinvigorate the industry, say attorneys at Mitchell Sandler.
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Exploring China's 1st Administrative Merger Control Ruling
As the first judicial ruling in China's merger control regime, the Beijing Ƶ Court's recent upholding of Simcere's acquisition of Tobishi helps to clarify how the Chinese antitrust authority and court assess remedies, say attorneys at Tian Yuan Law Firm.
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Series
Competitive Weightlifting Makes Me A Better Lawyer
The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.
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Opinion
DOJ's Visa Suit Shows Pitfalls Of Regulating Innovative Tech
A policy of allowing free-market mechanisms to operate without undue interference remains the most effective way to foster innovation, and the U.S. Department of Justice's 2024 case against Visa illustrates the drawbacks of regulating innovative technology, says attorney Thomas Willcox.
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How New SBA Rule May Affect Small Government Contractors
By limiting competition from larger entities, the Small Business Administration's recently published final rule may help some small government contractors, but these restrictions on set-aside work following a merger, acquisition or sale may also deter small businesses' long-term growth, say attorneys at Akerman.
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Nippon Order Tests Gov't Control Over Foreign Investments
The U.S. government is primarily interested in restraining foreign transactions involving countries of concern, but former President Joe Biden’s January order blocking the merger of Nippon Steel and U.S. Steel shows that all foreign direct investments are under the federal government’s microscope, say attorneys at Blank Rome.