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Mergers & Acquisitions
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July 10, 2025
FCC Says Yes To T-Mobile's $5B Metronet Buy After Nixing DEI
T-Mobile has received the Federal Communications Commission's blessing to go ahead with its $4.9 billion joint venture to acquire fiber company Metronet, one day after telling the agency it would end its diversity, equity and inclusion programs in furtherance of the FCC chair's goals.
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July 10, 2025
Ferrero, Kellogg Ink $3.1B Deal Led By Davis Polk, Kirkland
Italian food company The Ferrero Group has agreed to acquire WK Kellogg Co. in a $3.1 billion all-cash deal, the companies said Thursday, marking a major expansion for Ferrero into the North American breakfast market.Â
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July 10, 2025
SpaceX Seeks Record $400B Valuation, Plus More Rumors
Elon Musk's satellite and rocket maker SpaceX is planning to raise money in a private round that would value the company at a record $400 billion, Starbucks China is seeking bids for a stake sale that could value the chain at $10 billion, plus online fashion giant Shein hopes to salvage its long-awaited IPO by listing in Hong Kong.
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July 10, 2025
AbbVie Pays Up To $2B For Oncology Licensing Agreement
Pharmaceutical giant AbbVie Inc. on Thursday announced an up to $2 billion exclusive licensing agreement with Covington & Burling LLP-advised IGI Therapeutics SA for rights to its lead oncology and autoimmune diseases investigational asset.
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July 09, 2025
Give Investors Partial Class Cert In DiDi Suit, Judge Suggests
Investors in DiDi Global Inc., a ride-hailing business based in China, should receive class certification for some of their claims in a suit alleging that the company hid enterprise-threatening regulatory risks during its initial public offer in 2021, a federal magistrate judge has determined.
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July 09, 2025
Former Josh Wine Exec Sues Over Soured Buyout Deal
The former president of the wine and spirits company that owns multibillion-dollar brand Josh Cellars has filed suit in New York state court, claiming the family-run enterprise has withheld millions in royalty payments that he was due after his employment contract expired, exposing "the dark underbelly of the adage that blood is thicker than water."
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July 09, 2025
Quinn Emanuel Says 'Spite' Behind Unpaid $30M Legal Tab
The new owners of a business that was forced by Quinn Emanuel Urquhart & Sullivan LLP attorneys to honor a merger agreement are refusing to pay a $30 million legal bill "out of spite," the firm has alleged in Massachusetts state court.
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July 09, 2025
Thunderstone SPAC Eyes $50M IPO Targeting Growth Firms
Special purpose acquisition company Thunderstone Acquisition told U.S. regulators Wednesday that it plans to raise up to $50 million in its initial public offering.
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July 09, 2025
Fla. Man Admits To Insider Trading On Google-ADT Deal
A Florida man has pled guilty to trading shares of ADT Inc. after learning from a family member about a planned investment in the security company from Google, which ultimately reaped him a profit of more than $314,000.
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July 09, 2025
Lowenstein Sandler Adds Experienced Tax Partner In NY
A onetime FBI special agent who has spent the past 18 years in BigLaw has come aboard Lowenstein Sandler LLP's New York office as a partner in the firm's tax practice.
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July 09, 2025
Globa Terra SPAC Raises $152M To Target Agribusiness Deals
Special purpose acquisition company Globa Terra Acquisition Corp. began trading Wednesday after pricing a $152 million initial public offering, enabling the vehicle to pursue mergers in the agribusiness or water sectors, represented by Paul Hastings LLP.
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July 09, 2025
T-Mobile Tanks DEI Policies To Meet FCC Chair's Goal
T-Mobile says it will shut down diversity, equity and inclusion programs to align with goals of the Federal Communications Commission's chair as the carrier seeks regulatory approval of two major wireless and fiber deals.
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July 09, 2025
LLCP Wraps 7th Flagship Fund With $3.6B In Tow
Los Angeles-based private equity shop Levine Leichtman Capital Partners, advised by Kirkland & Ellis LLP, on Wednesday revealed that it closed its seventh fund above target after securing over $3.6 billion of investor commitments.
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July 09, 2025
Ferguson Braswell Adds Pair Of Corporate Attys In Austin
Ferguson Braswell Fraser Kubasta PC has added a pair of shareholders who previously practiced at Grable Martin PLLC to its corporate and investment practice in Austin, Texas, strengthening the firm's presence in the city and its global transactional offerings.
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July 09, 2025
Hecker Fink Welcomes Longtime Cravath Trial Lawyer In NY
Hecker Fink LLP announced Wednesday that a longtime Cravath Swaine & Moore LLP attorney known for her work on high-stakes commercial litigation has joined its New York office.
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July 09, 2025
Stone And Tile Seller Hits Ch. 11 With $65M In Debt, Sale Plans
Mosaic Cos., the parent of stone and tile distributors Walker & Zanger and Surfaces Southeast, filed for Chapter 11 protection in Delaware with $65 million of secured debt after it struggled to rebound from pandemic-caused supply chain disruptions.
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July 09, 2025
Freshfields Guides Merck's $10B Deal For Verona Pharma
U.S. biomedical heavyweight Merck said Wednesday that it will buy Verona Pharma for $10 billion to add a drug used to treat lung disease to its portfolio of respiratory therapies.
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July 08, 2025
FCC Should Kill Verizon-UScellular Deal, Trade Group Says
The Rural Wireless Association is not a fan of T-Mobile, Verizon and AT&T's plan to split UScellular between themselves — particularly when it comes to Verizon picking up a hefty share of the phone and internet company's spectrum, the trade group has told the FCC.
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July 08, 2025
11th Circ. Rejects Fla. Jurisdiction In $17M Cheese Fraud Case
The Eleventh Circuit declined Tuesday to revive a lawsuit accusing Savencia Cheese USA LLC and its executives of fraudulently selling two Florida companies a worthless cheese distribution company for $17 million, finding that the presence of deal counsel in Miami is not enough to keep the suit in Florida federal court.
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July 08, 2025
Crypto Firm ReserveOne To Go Public Via $1B SPAC Merger
Crypto asset management firm ReserveOne announced Tuesday that a special purpose acquisition company plans to take it public in a transaction that's expected to bring in more than $1 billion in proceeds as it pursues its novel crypto reserve strategy.
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July 08, 2025
Job Site Monster.com OK'd For Swift Ch. 11 Auctions
A Delaware bankruptcy judge Tuesday signed off on online job search site CareerBuilder + Monster's plans to hold Chapter 11 auctions for its assets next week, approving bid procedures with three separate stalking horses.
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July 08, 2025
Team Telecom Backs $3.1B SES-Intelsat Deal, With Conditions
Team Telecom, an interagency group that advises the FCC on security risks, has said it sees no issue with the agency approving satellite titan SES SA's $3.1 billion plan to buy rival satellite operator Intelsat Holdings, so long as it abides by a few conditions.
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July 08, 2025
Gray, Scripps To Seek FCC Waivers Of Local Ownership Rule
Broadcast giants Gray Media and Scripps are hoping the Federal Communications Commission waives its local ownership rules to let them complete a TV station swap affecting five markets that they say will create duopolies for each company.
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July 08, 2025
4 Firms Guide BlackRock's ElmTree Acquisition Deal
BlackRock Inc. will acquire net lease real estate investment firm ElmTree Funds, which oversees $7.3 billion worth of assets as of March 31, in a deal guided by Skadden Arps Slate Meagher & Flom LLP, Fried Frank Harris Shriver & Jacobson LLP, Sidley Austin LLP and Kirkland & Ellis LLP, BlackRock announced.
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July 08, 2025
Prospect Medical Doctor Groups Hit Ch. 11 After Astrana Sale
About two dozen physician practices linked to bankrupt healthcare company Prospect Medical have filed for Chapter 11 protection in Texas, days after Prospect sold some of the entities' assets to Astrana Health Inc. for $708 million.
Expert Analysis
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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.
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Series
Adapting To Private Practice: From DOJ Leadership To BigLaw
The move from government service to private practice can feel like changing one’s identity, but as someone who has left the U.S. Department of Justice twice, I’ve learned that a successful transition requires patience, effort and the realization that the rewards of practicing law don’t come from one particular position, says Richard Donoghue at Pillsbury.
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Issues To Watch At ABA's Antitrust Spring Meeting
Attorneys at Freshfields consider the future of antitrust law and competition enforcement amid agency leadership changes and other emerging developments likely to dominate discussion at the American Bar Association's Antitrust Spring Meeting this week.
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Law Firm Executive Orders Create A Legal Ethics Minefield
Recent executive orders targeting BigLaw firms create ethical dilemmas — and raise the specter of civil or criminal liability — for the government attorneys tasked with implementing them and for the law firms that choose to make agreements with the administration, say attorneys at Buchalter.
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Firms Must Embrace Alternative Billing Models Or Fall Behind
As artificial intelligence tools eliminate inefficiencies and the Big Four accounting firms enter the legal market, law firms that pivot from the entrenched billable hour model to outcomes-based pricing will see a distinct competitive advantage, says attorney William Brewer.
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How Attorneys Can Master The Art Of On-Camera Presence
As attorneys are increasingly presented with on-camera opportunities, they can adapt their traditional legal skills for video contexts — such as virtual client meetings, marketing content or media interviews — by understanding the medium and making intentional adjustments, says Kerry Barrett.
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Justices' TikTok Ruling Sets Stage For 1st Amendment Battle
The U.S. Supreme Court's landmark ruling upholding a law requiring TikTok's sale sets the stage for an inevitable clash between free speech and government interests and signals that future cases will turn on whether a regulation poses a substantial burden on speech, say attorneys at Dykema.
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What Del. Corporate Law Rework Means For Founder-Led Cos.
Although the amendments to the Delaware General Corporation Law have proven somewhat divisive, they will provide greater clarity and predictability in the rules that apply to founder-led companies navigating transactions concerning controlling stockholders and responding to books-and-records requests, say attorneys at Munger Tolles.
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Series
Baseball Fantasy Camp Makes Me A Better Lawyer
With six baseball fantasy experiences under my belt, I've learned time and again that I didn't make the wrong career choice, but I've also learned that baseball lessons are life lessons, and I'm a better lawyer for my time at St. Louis Cardinals fantasy camp, says Scott Felder at Wiley.
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Series
Adapting To Private Practice: From Fed. Prosecutor To BigLaw
Making the jump from government to private practice is no small feat, but, based on my experience transitioning to a business-driven environment after 15 years as an assistant U.S. attorney, it can be incredibly rewarding and help you become a more versatile lawyer, says Michael Beckwith at Dickinson Wright.
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How Del. Supreme Court, Legislature Have Clarified 'Control'
The Delaware Supreme Court's January decision in In re: Oracle and the General Assembly's passage of amendments to the Delaware General Corporation Law this week, when taken together, help make the controlling-stockholder analysis clearer and more predictable for companies with large stockholders, say attorneys at Baker Botts.
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Firms Still Have Lateral Market Advantage, But Risks Persist
Partner and associate mobility data from the fourth quarter of 2024 shows that we’re in a new, stable era of lateral hiring where firms have the edge, but leaders should proceed cautiously, looking beyond expected revenue and compensation analyses for potential risks, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
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What Rodney Hood's OCC Stint Could Mean For Banking
Acting Comptroller of the Currency Rodney Hood's time at the helm of the OCC, while temporary, is likely to feature clarity for financial institutions navigating regulations, the development of fintech innovation, and clearer expectations for counsel advising on related matters, say attorneys at Vedder Price.