Mergers & Acquisitions

  • December 06, 2023

    Kirkland-Led PE Firm Strikes £287M Deal To Buy Bowling Biz

    Ten Entertainment said on Wednesday that it has agreed to be bought for £287 million ($361 million) by a subsidiary of U.S. private equity firm Trive Capital Partners LP as the U.K. bowling operator eyes business growth.

  • December 05, 2023

    Solar Tech Lender Gets OK For Quick Ch. 11 Exit

    A Delaware bankruptcy judge Tuesday said she will approve Sunlight Financial Holding's prepackaged Chapter 11 sale plan just over a month after the solar power financing company filed for bankruptcy.

  • December 05, 2023

    Brewery Says Co-Owner Swiped $1M, Forcing Bankruptcy

    A Colorado brewery has sued one of its co-owners, alleging that he misappropriated more than $1 million of the company's money for personal use and his other businesses, claiming in a state court complaint that his misconduct forced the company to file for bankruptcy.

  • December 05, 2023

    AP3 And Wafra Team Up For New $1.05B Investment Platform

    The Third Swedish National Pension Fund and alternative investment manager Wafra Inc. on Tuesday announced the formation of new investment platform Covalent, which will be launched with $1.05 billion of capital to focus on mid-market buyouts and growth equity investments in North America and Europe.

  • December 05, 2023

    Another Khosla-Backed SPAC To Fold As Merger Search Fails

    Special purpose acquisition company Khosla Ventures Acquisition Co. plans to liquidate and return investors their money, becoming the second of three Khosla-backed SPACs to close after failing to complete a merger amid harsh market conditions.

  • December 05, 2023

    SoftBank Nabs €473M Majority Stake In Vehicle Software Biz

    Telecommunications and IT operator SoftBank Corp. on Tuesday announced it has snagged a majority stake in Cubic Telecom Ltd., which provides software-defined connected vehicle solutions, for €473 million ($511.5 million) in a deal built by four firms.

  • December 05, 2023

    Ancora Sides With Trian As Disney Board Battle Brews

    Activist investment firm Ancora Holdings Group said Tuesday that it backs the appointment of Nelson Peltz to The Walt Disney Company's board, days after Peltz's Trian Fund Management LP said the storied entertainment company had declined to consider him for the post.

  • December 05, 2023

    App Maker Says Faux Atty Lied In Prisoner-Transport Biz Buy

    A cryptocurrency influencer and owner of a Pittsburgh-based AI app company said his former chief investment officer faked his bona fides as an attorney and pilot when enticing him to buy a Colorado prisoner-transport company, then backed out of the business and sabotaged its prospects, according to a lawsuit filed in Pennsylvania state court.

  • December 05, 2023

    Drug Co. Aceragen OK'd For Chancery-Overseen Liquidation

    Biopharmaceutical company Aceragen Inc. secured a Delaware Court of Chancery go-ahead for its bankruptcy-alternative liquidation under a court-supervised assignment for the benefit of creditors in favor of a NovaQuest Capital Management affiliate.

  • December 05, 2023

    JetBlue-Spirit Deal Trial Wraps As Judge Mulls Middle Ground

    While hearing closing arguments in a monthlong bench trial, a Massachusetts federal judge weighed Tuesday whether he could strike a balance between permanently barring a proposed $3.8 billion merger between JetBlue Airways Corp. and Spirit Airlines and letting the deal go through as is.

  • December 05, 2023

    Illinois Firm Wants Jury Trial On All Counts Over Missing $3M

    An Illinois law firm that earlier this year was found liable for the loss of a client's $3 million placed in an escrow account under the firm's control has urged a federal judge to uphold its right to a jury trial.

  • December 05, 2023

    FTC Seeks More Info On $60B Pioneer, Exxon Deal

    The U.S. Federal Trade Commission has issued second requests for more information from both Pioneer Natural Resources and Exxon Mobil Corp. regarding their planned $59.5 billion merger, Pioneer revealed in a securities filing Tuesday. 

  • December 05, 2023

    Recycling Co. Strategic Materials Hits Ch. 11 With $433M Debt

    Glass recycling company Strategic Materials Inc. filed for Chapter 11 protection in a Texas bankruptcy court with about $433 million in debt and a plan to hand lenders its business, after struggling to meet payments on floating-rate debt that's become "significantly more expensive" as interest rates have risen.

  • December 05, 2023

    Yellow Corp. Accepts $1.9B In Bids For Trucking Terminals

    Bankrupt trucking firm Yellow Corp. has told a Delaware bankruptcy judge that it plans to sell 128 trucking terminals nationwide to 21 different buyers for over $1.88 billion.

  • December 04, 2023

    Alaska-Hawaiian Airlines Merger Tests Biden Antitrust Stance

    Alaska Airlines and Hawaiian Airlines' proposal to create a strong regional rival to the nation's so-called Big Four carriers will be another test for the Biden administration's aggressive antitrust enforcers, but experts say it's unclear whether fewer overlapping routes and a promise to keep their distinct brands will smooth over regulatory hurdles.

  • December 04, 2023

    Feds Say Ex-Lumentum Exec Should Serve Up To 6 Years

    Manhattan federal prosecutors want a prison sentence between 57 and 71 months for former Lumentum Holdings Inc. Chief Information Security Officer Amit Bhardwaj, who pled guilty in March to claims he passed inside information to a California software engineer who held a senior role at Adobe.

  • December 04, 2023

    ​​​​​​​FTC Sues 7-Eleven, Alleging Violation of 2018 Consent Order

    The Federal Trade Commission is suing 7-Eleven for buying a Florida fuel outlet without giving prior notice, alleging the purchase violated a 2018 consent order.

  • December 04, 2023

    Kraft Heinz Fraudulently Won Insider Trade Suit, Investor Says

    An investor has hit Kraft-Heinz Co. with a fresh stockholder complaint in Delaware Chancery Court, claiming that the court wrongly tossed a prior action alleging similar $1.2 billion insider-trading claims based on fraudulent statements and incomplete evidence regarding Kraft Heinz's executives' purported financial ties to the majority stockholder accused of insider trading.

  • December 04, 2023

    Fired Davis Polk Atty's Bid To Expand Trial Ripped By Judge

    A Manhattan federal judge on Monday rejected an attempt by a Black former Davis Polk & Wardwell LLP associate to drastically expand his upcoming retaliation trial, calling it an arbitrary bid to potentially "torture" his former employer with excessive litigation.

  • December 04, 2023

    Pharma Heirs Owe $5.4M In Tax On Merger, Tax Court Says

    The heirs of a pharmaceutical business owe $5.4 million in taxes on interest stemming from a merger they rejected that squeezed them out of their shares in the company's stock, the U.S. Tax Court ruled Monday.

  • December 04, 2023

    Blank-Check Co. Aimei Health Technology Prices $60M IPO

    Aimei Health Technology, a blank-check company focused on healthcare targets, priced its initial public offering at $60 million on Friday ahead of its Monday listing on the Nasdaq, offering 6 million units at $10 apiece.

  • December 04, 2023

    Ex-FBI Trainee Cops To Trading On Covington Insider Info

    A former FBI trainee pled guilty in Manhattan federal court Monday to insider trading on a Merck & Co. acquisition after reading about the deal in the files of his then-girlfriend, an associate at Covington & Burling LLP.

  • December 04, 2023

    Geothermal Co. Says Co-Founder's Dismissal Bid Hypocritical

    A geothermal energy startup said a co-founder can't credibly contend its Colorado federal lawsuit criticizing his work performance is too similar to claims in another case, writing in a brief that the co-founder made the opposite argument in his own lawsuit against the company.

  • December 04, 2023

    Disney Again Targets ESPN Streaming Bundles Suit

    Disney urged a California federal judge to nix a proposed antitrust class action targeting live-streaming carriage agreements forbidding ESPN's exclusion from cheap bundling packages, arguing that tweaks to the subscribers' suit can't save previously nixed damages claims and that the judge should've tossed the entirety of the suit.

  • December 04, 2023

    Kristen Bell's Baby Co. Eyes $65M Early-Bidder Ch. 11 Sale

    Hello Bello, a baby product brand started by actress Kristen Bell, has informed a Delaware bankruptcy judge it intends to accept a nearly $65 million stalking horse bid for its assets from private equity fund Hildred Capital Management, after canceling its Chapter 11 auction for lack of other bidders.

Expert Analysis

  • Mitigating Antitrust Risk Amid Increased Dealmaking Scrutiny

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    While deals continue to get done despite a 60% increase in significant merger investigations in the U.S. last year as agencies moved away from settlements, private equity firms should identify and assess potential antitrust risks and develop strategies to mitigate them early in the deal process, say attorneys at Dechert.

  • Opinion

    Legal Profession Gender Parity Requires Equal Parental Leave

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    To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.

  • Opinion

    Activist Short-Sellers Are The Dark Knights Of Wall Street

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    While so-called activist short-sellers have been subject to increased scrutiny in recent years, these investors work in the shadows like Batman to expose fraud on Wall Street, often generating leads that may move regulators to take action, say attorneys at Labaton Sucharow.

  • Series

    Writing Thriller Novels Makes Me A Better Lawyer

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    Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.

  • What Lawyers Must Know About Calif. State Bar's AI Guidance

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    Initial recommendations from the State Bar of California regarding use of generative artificial intelligence by lawyers have the potential to become a useful set of guidelines in the industry, covering confidentiality, supervision and training, communications, discrimination and more, say attorneys at Debevoise.

  • Industry Must Elevate Native American Women Attys' Stories

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    The American Bar Association's recent research study into Native American women attorneys' experiences in the legal industry reveals the glacial pace of progress, and should inform efforts to amplify Native voices in the field, says Mary Smith, president of the ABA.

  • Understanding Discovery Obligations In Era Of Generative AI

    Excerpt from Practical Guidance
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    Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.

  • The Case For Post-Bar Clerk Training Programs At Law Firms

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    In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.

  • Attorneys Have An Ethical Duty To Protect The Judiciary

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    The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.

  • Cross-Market Implications In FTC's Anesthesia Complaint

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    The Federal Trade Commission's recent complaint against a private equity firm's acquisition of anesthesiology practices highlights the controversial issue of cross-market harm in health care provider mergers, and could provide important insights into how a court may view such theories of harm, say Christopher Lau and Dina Older Aguilar at Cornerstone Research.

  • AI Can Help Lawyers Overcome The Programming Barrier

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    Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.

  • Inside Bank Regulators' Community Lending Law Overhaul

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    The federal banking agencies' recently finalized changes to the Community Reinvestment Act not only account for the gradual shift to an environment where lending and deposit-taking are primarily conducted online, but also implement other updates such as diversity initiatives and a new series of lending tests, say attorneys at Norton Rose.

  • Preparing Law Students For A New, AI-Assisted Legal World

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    As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.

  • Sellers Seeking Best Deal Should Focus On Terms And Price

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    Rising interest rates and a decline in the automotive mergers and acquisitions market mean that a failed deal carries greater stakes, and sellers therefore should pursue not only the optimum price but also the optimum terms to safeguard their agreement, says Joseph Aboyoun at Fox Rothschild.

  • General Counsel Need Data Literacy To Keep Up With AI

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    With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.

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