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Mergers & Acquisitions
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May 23, 2025
Banking Veteran Betsy Cohen's Latest SPAC Targets Fintech
Financial services dealmaker Betsy Cohen is back with another SPAC, filing plans Friday for a $220 million initial public offering for Cohen Circle Acquisition Corp. II, which aims to pursue mergers in fintech and adjacent sectors.
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May 23, 2025
Squire Patton, Kirkland Lead Goodyear's $650M PE Deal
Goodyear Tire, represented by Squire Patton Boggs LLP, has agreed to sell a majority of its chemical business to Gemspring Capital, a private equity shop advised by Kirkland & Ellis LLP, in a $650 million transaction that followed a strategic review of the subsidiary.
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May 23, 2025
Taxation With Representation: Troutman, A&O Shearman
In this week's Taxation With Representation, Blackstone acquires TXNM Energy, OpenAI buys io Products, Lumen Technologies sells its Mass Markets fiber-to-the-home business in 11 states to AT&T, and AMD sells its data center infrastructure manufacturing business to Sanmina.
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May 23, 2025
Kilpatrick Grows M&A And Venture Capital Teams
Kilpatrick Townsend & Stockton LLP has added an experienced attorney to its corporate practice and its mergers and acquisitions and venture capital teams.
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May 23, 2025
FTC Finally Drops Challenge To Microsoft-Activision Deal
The Federal Trade Commission has dropped its in-house case seeking to block Microsoft's $68.7 billion purchase of video game developer Activision Blizzard, after its Ninth Circuit loss earlier this month, ending a lingering challenge to a deal that closed in late 2023.
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May 23, 2025
Torys-Led Vermilion Sells Canadian Gas Assets For CA$415M
Global gas producer Vermilion Energy Inc., advised by Torys LLP, on Friday announced plans to sell its Saskatchewan and Manitoba assets in Canada for CA$415 million ($301.04 million).
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May 23, 2025
Assura Tells Shareholders Not To Vote On KKR, Stonepeak Bid
The board of property manager Assura told shareholders on Friday not to vote for a £1.6 billion ($2.2 billion) offer from U.S. private equity firms KKR and Stonepeak as it assesses a rival bid of £1.7 billion.
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May 23, 2025
International Paper Co. To Shut 5 Sites After DS Smith Deal
International Paper Co. confirmed on Friday that plans including a move to shut down five of its packaging sites in Britain will go ahead, warning that the closures could affect 300 jobs following its acquisition of packaging provider DS Smith PLC.
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May 23, 2025
RedBird To Buy Telegraph As Gov't Relaxes Ownership Rules
Investment firm RedBird Capital Partners said Friday that it will buy the Telegraph Media Group in a £500 million ($675 million) transaction that hands a minority stake in the publisher to its Abu Dhabi-backed subsidiary after the government floated plans to loosen foreign-ownership rules for British newspapers.
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May 22, 2025
Lottery.com Execs Cop To Securities Fraud In SPAC Case
Two former Lottery.com executives pled guilty Thursday to their role in a scheme to fraudulently inflate reported revenues in a 2021 take-public deal involving the mobile and online lottery gaming platform company.
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May 22, 2025
Proxy Proposal Omissions Rose Post-SEC Bulletin, Study Finds
There was a sharp drop in the total number of shareholder proxy proposals submitted this year and a rise in the number of submitted proposals that were omitted from corporate ballots following the U.S. Securities and Exchange Commission's rescission of past guidance, ISS Corporate Solutions Inc. said Thursday.
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May 22, 2025
Firm Drops $500K Contract Suit Against Cannabis POS Co.
A federal judge in Seattle dismissed a breach of contract suit between cannabis payment tech companies over a final $500,000 payment in a deal to buy a rival.
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May 22, 2025
Cities Say They Fixed Bid To Divest Axon Police Camera Buy
A trio of local governments urged a New Jersey federal judge Wednesday not to tee up an attack on their bid to force Axon Enterprise Inc. to divest a police body camera company whose purchase they say helped it monopolize the market, arguing they've fixed failings from an earlier complaint.
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May 22, 2025
Senators Unveil DNA Privacy Bill Amid 23andMe's Ch. 11 Sale
A bipartisan group of U.S. senators on Thursday introduced a bill designed to safeguard customers' genetic information in bankruptcy cases, saying 23andMe's plan to sell users' DNA data to a pharmaceutical company during its Chapter 11 raises new concerns surrounding consumer privacy.
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May 22, 2025
Motorola Eyes $4.5B Wireless Radio Deal, And Other Rumors
Motorola eyes a $4.5 billion purchase of a wireless radio maker, Providence Equity buys a live event company at a reported $1 billion value and Intel's sale of a networking unit could attract billions. Here, Law360 breaks down these and other notable deal-related rumors from the past week.
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May 22, 2025
Oyster Enterprises II SPAC Prices $220M IPO
Special purpose acquisition company Oyster Enterprises II Acquisition Corp. began trading publicly on Thursday following its $220 million initial public offering.
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May 22, 2025
Millicom Buying Telefonica's Uruguay Mobile Unit For $440M
Millicom International Cellular has agreed to acquire Telefonica's mobile operations in Uruguay at a $440 million enterprise value, in a deal that will expand its Latin America footprint through one of the region's most stable economies.
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May 22, 2025
Gem Group Plugs $100M Into MoviePass For Fantasy Platform
A fund sponsored by alternative investment firm Gem Group announced Thursday that it completed its inaugural investment in MoviePass, plugging $100 million into the company that says it is "redefining" the moviegoing experience.
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May 22, 2025
Senior FCC Democrat Attends Final Monthly Meeting
Geoffrey Starks, the senior Democrat on the Federal Communications Commission, participated in his last agency meeting Thursday, where he announced he will leave the agency sometime within the next month.
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May 22, 2025
Cleary Closes Frankfurt Office As It Consolidates In Germany
Cleary is closing its office in Frankfurt after more than three decades as the U.S. law firm consolidates its operations in Germany under one location.
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May 22, 2025
Sanofi To Acquire Goodwin-Led US Biotech Biz For $470M
Drugmaker Sanofi said Thursday that it has agreed to acquire Vigil Neuroscience, a biotechnology company specializing in neurodegenerative diseases, for approximately $470 million to give it a potential new medicine for Alzheimer's disease in a deal guided by Goodwin Procter.
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May 22, 2025
Latham Leads Honeywell In £1.8B UK Catalyst Tech Biz Buy
Honeywell International Inc. said Thursday it has agreed to acquire the catalyst technologies arm of Johnson Matthey PLC, a U.K. chemicals company, for £1.8 billion ($2.4 billion), as the U.S. technology conglomerate moves to broaden its refining and renewable fuel portfolio.
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May 21, 2025
Discover Interim Legal Chief Exits As Capital One Deal Closes
Discover Financial Services' interim chief legal officer and general counsel departed on Sunday, the same day Capital One Financial Corp. finalized its $35 billion acquisition of the financial services company.
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May 21, 2025
House Panel Advances Bills Easing Securities, Banking Regs
The U.S. House of Representatives Financial Services Committee this week approved 25 bills largely aimed at reducing capital markets and banking regulations, moving the deregulatory proposals forward for consideration by the full House.
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May 21, 2025
Verizon Looks To Break Free Of TracFone Unlocking Condition
Verizon is once again asking the Federal Communications Commission to let it out of a condition from its takeover of TracFone requiring the carrier to unlock its mobile phones after 60 days.
Expert Analysis
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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.Â
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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 ÃÛÌÒÊÓÆµ 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.
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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.