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Mergers & Acquisitions
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July 31, 2025
'Abusive Behavior' Spurs $195M Add To Phillips 66 IP Verdict
A California state judge added $195 million in exemplary damages to a $605 million trade secrets verdict against oil giant Phillips 66 following its "abusive behavior" toward startup and onetime acquisition target Propel Fuels.
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July 31, 2025
Full FCC Hearing Sought On T-Mobile, UScellular Tie-Up
Several trade and public interest groups urged the Federal Communications Commission to hold a full agency review of T-Mobile's plan to take over most of UScellular after FCC staff gave the deal a green light almost three weeks ago.
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July 31, 2025
MPLX To Acquire Northwind Midstream For $2.4B
Energy infrastructure firm MPLX LP said on Thursday it has agreed to acquire Northwind Midstream for $2.38 billion in cash, in a move that will expand its natural gas operations in the Delaware Basin region of New Mexico.
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July 31, 2025
NYSE Parent May Buy Enverus For $6B, Plus More Rumors
A Milwaukee-based advisory firm is in late talks for a stake sale at a $1 billion valuation, Black Rock Coffee Bar files confidentially for an initial public offering at a similar value, and the Intercontinental Exchange is in talks to buy Enverus for $6 billion. Here, ¼«ËÙÈü³µ breaks down these and other notable rumors from the past week.
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July 31, 2025
Sunnova Cleared To Sell Assets To Lenders In Ch. 11
Solar panel business Sunnova Energy International Inc. secured a Texas bankruptcy judge's blessing Thursday to sell almost all of its assets to a group of lenders for about $118 million.
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July 31, 2025
Baker McKenzie Helps JD.com Buy Ceconomy For €2.2B
Chinese e-commerce heavyweight JD.com has said it will take Ceconomy AG private in a cash deal for approximately €2.2 billion ($2.5 billion), which is being backed by the German retail group's board, anchor shareholders and founding family.
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July 31, 2025
A&O Shearman Guides Brookfield On £2.4B Just Group Buy
Investment giant Brookfield said Thursday that it plans to buy Just Group, a British life insurer, for £2.4 billion ($3.2 billion) in a deal steered by A&O Shearman and Slaughter and May.
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July 30, 2025
Investor Seeks Injunction Of 'Unfair' $4 Billion Sitio Sale
Sitio Royalties Corp.'s $4 billion merger with Viper Energy Inc. is under fire in Colorado state court after a Sitio investor claimed that the merger will leave investors holding shares of Viper Energy that are "grossly undervalued."
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July 30, 2025
Fenwick, Latham Lead Web Software Giant Figma's $1.2B IPO
Web-design software maker Figma Inc. on Wednesday priced a $1.2 billion initial public offering above its upwardly revised price range, guided by Fenwick & West LLP and underwriters counsel Latham & Watkins LLP.
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July 30, 2025
Honest Co.'s $27.5M Investor Deal Gets Final OK
An investor class action against The Honest Co. Inc., the "clean lifestyle" brand founded by actress Jessica Alba, has gotten a final nod for a $27.5 million deal to end claims that the company did not disclose certain negative business trends ahead of its 2021 initial public offering.
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July 30, 2025
Iowa Slams Schwab's 'Amorphous' Antitrust Compliance Deal
The state of Iowa is among a slew of objectors to a settlement calling for Charles Schwab Corp. to implement an antitrust compliance program to resolve an investor class action stemming from its merger with TD Ameritrade, arguing the deal is unfair and completely fails to remedy the investors' harm.
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July 30, 2025
GTCR Denied Rival's Old Sales Prospects Data In FTC Case
An Illinois federal judge refused Tuesday to force a rival medical device coatings company to cough up old sales projections data so private equity firm GTCR BC Holdings can defend against a Federal Trade Commission challenge to its $627 million purchase of Surmodics.
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July 30, 2025
Davis Polk, King & Spalding Build $2.35B AccuLynx Sale
Data analytics and technology company Verisk, advised by Davis Polk & Wardwell LLP, on Wednesday announced plans to acquire software-as-a-service company AccuLynx, led by King & Spalding LLP, in a $2.35 billion cash deal.
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July 30, 2025
4 Firms Steer Palo Alto Networks' $25B CyberArk Buy
Cybersecurity giant Palo Alto Networks revealed plans Wednesday to acquire identity security company CyberArk in a cash-and-stock megadeal valued at $25 billion and built by four law firms.
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July 30, 2025
AI, Crypto Securities Class Actions On The Rise, Report Says
The filing of new securities class actions has remained steady during the first half of 2025, but investor suits related to artificial intelligence and cryptocurrency are on pace to increase, according to a Cornerstone Research report released Wednesday, signaling the recent rapid growth of both industries.
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July 30, 2025
Sullivan & Cromwell-Led Evercore Pays £146M For UK Adviser
Sullivan & Cromwell LLP-led Evercore Inc. said Wednesday it has agreed to acquire the U.K.-based boutique corporate adviser Robey Warshaw LLP, advised by Freshfields LLP, for £146 million ($195 million) as the U.S. global investment banking giant moves to expand into the London mergers and acquisitions market.
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July 30, 2025
Finance Biz Eyes £490M Acquisition Of UK Lender IPF
British credit provider International Personal Finance said Wednesday that it is in talks to be bought by U.S. specialist finance group BasePoint Capital in a proposed £490 million ($656 million) cash deal.
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July 30, 2025
WilmerHale Taps Life Science Pro To Chair Transactions Dept.
WilmerHale announced Wednesday that the former Latham & Watkins LLP attorney it hired last year to co-chair its life sciences practice is taking over as the chair of its transactional department.
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July 29, 2025
Hedge Fund Nets $54M In S. Korea Samsung Merger Fight
South Korea has paid nearly $54 million owed under an arbitral award issued to a U.S. hedge fund in a dispute over a government bribery scandal that allegedly underpinned the $8 billion merger of two Samsung affiliates in 2015, Seoul said on Tuesday.
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July 29, 2025
Chancellor Partly Reverses Toss Of Pioneer Merger Doc Suit
A Pioneer Natural Resources stockholder has won a battle but lost the war in a Delaware Court of Chancery review of a senior magistrate's denial of expanded access to books and records on Pioneer's $59.5 billion May 2024 merger with Exxon-Mobil.
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July 29, 2025
DOJ Drops Challenge Of Amex GBT's $570M Deal For CWT
The U.S. Department of Justice said Tuesday that enforcers have agreed to drop their case challenging American Express Global Business Travel Inc.'s planned $570 million purchase of corporate travel management rival CWT Holdings LLC.
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July 29, 2025
Bit Digital's AI Infrastructure Subsidiary Eyes $125M IPO
Artificial intelligence infrastructure company WhiteFiber Inc. on Tuesday unveiled plans to spin off from its parent company Bit Digital by way of an initial public offering, with plans to raise an estimated $125 million in an offering built by four law firms.
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July 29, 2025
Latham Steers PE-Backed Eco Material On $2.1B Cement Deal
Building materials supplier CRH announced Tuesday it will acquire Eco Material Technologies for $2.1 billion in cash, deepening its presence in North America's fast-growing market for lower-carbon cement alternatives.
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July 29, 2025
DOJ's Top Antitrust Deputy, Merger Chief Both Fired
The U.S. Department of Justice has ousted two of its top Antitrust Division officials, citing insubordination amid growing signs of tension between merger enforcers and the wider Trump administration.
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July 29, 2025
4th Circ. Rejects BofA's Claim Of Tax Offsets After Mergers
Bank of America cannot use its tax overpayments to offset interest on tax underpayments by Merrill Lynch just because the two companies later merged, the Fourth Circuit affirmed Tuesday in a $163 million case that affects more than 20 years' worth of tax adjustments.
Editor's Picks
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UK Enforcers Say Cargo Equipment Deal Raises Concerns
The planned merger of Finnish cargo handling equipment outfits Cargotec Corp. and Konecranes PLC faces increasing scrutiny across the globe, as U.K. enforcers raised concerns about competition for a number of different products for port services.
Expert Analysis
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Opinion
Premerger Settlements Don't Meet Standard For Bribery
Claims that Paramount’s decision to settle a lawsuit with President Donald Trump while it was undergoing a premerger regulatory review amounts to a quid pro quo misconstrue bribery law and ignore how modern legal departments operate, says Ediberto Román at the Florida International University College of Law.
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Series
Playing Soccer Makes Me A Better Lawyer
Soccer has become a key contributor to how I approach my work, and the lessons I’ve learned on the pitch about leadership, adaptability, resilience and communication make me better at what I do every day in my legal career, says Whitney O’Byrne at MoFo.
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Series
Law School's Missed Lessons: Learning From Failure
While law school often focuses on the importance of precision, correctness and perfection, mistakes are inevitable in real-world practice — but failure is not the opposite of progress, and real talent comes from the ability to recover, rethink and reshape, says Brooke Pauley at Tucker Ellis.
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Legal Ops, Compliance Increasingly Vital To Antitrust Strategy
With deal timelines tightening and disclosure requirements intensifying, legal operations and compliance teams are becoming critical drivers of premerger strategy, cross-functional alignment and regulatory credibility, says Alexander Lima at Wesco International.
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Series
Adapting To Private Practice: From ATF Director To BigLaw
As a two-time boomerang partner, returning to BigLaw after stints as a U.S. attorney and the director of the Bureau of Alcohol, Tobacco, Firearms and Explosives, people ask me how I know when to move on, but there’s no single answer — just clearly set your priorities, says Steven Dettelbach at BakerHostetler.
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4th Circ. Favors Plain Meaning In Bump-Up D&O Ruling
The Fourth Circuit's latest denial of indemnity coverage in Towers Watson v. National Union Fire Insurance and its previous ruling in this case lay out a pragmatic approach to bump-up provisions that avoids hypertechnical constructions to limit the effect of a policy's plain meaning, say attorneys at Kennedys.
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Opinion
DOJ's HPE-Juniper Settlement Will Help US Compete
The U.S. Department of Justice settlement with Hewlett Packard Enterprise clears the purchase of Juniper Networks in a deal that positions the U.S. as a leader in secure, scalable networking and critical digital infrastructure by requiring the divestiture of a WiFi network business geared toward small firms, says John Shu at Taipei Medical University.
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Series
Playing Baseball Makes Me A Better Lawyer
Playing baseball in college, and now Wiffle ball in a local league, has taught me that teamwork, mental endurance and emotional intelligence are not only important to success in the sport, but also to success as a trial attorney, says Kevan Dorsey at Swift Currie.
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Building Better Earnouts In The Current M&A Climate
In the face of market uncertainty, we've seen a continued reliance on earnouts in M&A deals so far this year, but to reduce the risk of related litigation, it's important to use objective standards, apply company metrics cautiously and ensure short time periods, among other best practices, say attorneys at White & Case.
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Series
Law School's Missed Lessons: Skillful Persuasion
In many ways, law school teaches us how to argue, but when the ultimate goal is to get your client what they want, being persuasive through preparation and humility is the more likely key to success, says Michael Friedland at Friedland Cianfrani.
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A Look At Trump 2.0 Antitrust Enforcement So Far
The first six months of President Donald Trump's second administration were marked by aggressive antitrust enforcement tempered by traditional structural remedies for mergers, but other unprecedented actions, like the firing of Federal Trade Commission Democrats, will likely stoke heated discussion ahead, says Richard Dagen at Axinn.
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Litigation Inspiration: How To Respond After A Loss
Every litigator loses a case now and then, and the sting of that loss can become a medicine that strengthens or a poison that corrodes, depending on how the attorney responds, says Bennett Rawicki at Hilgers Graben.
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The Metamorphosis Of The Major Questions Doctrine
The so-called major questions doctrine arose as a counterweight to Chevron deference over the past few decades, but invocations of the doctrine have persisted in the year since Chevron was overturned, suggesting it still has a role to play in reining in agency overreach, say attorneys at Crowell & Moring.
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Biotech Collaborations Can Ease Uncertainty Amid FDA Shift
As concerns persist that the U.S. Food and Drug Administration's reduced headcount will impede developments at already-strapped biotech companies, licensing and partnership transactions can provide the necessary funding and pathways to advance innovative products, say attorneys at Troutman.
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Series
Playing Mah-Jongg Makes Me A Better Mediator
Mah-jongg rewards patience, pattern recognition, adaptability and keen observation, all skills that are invaluable to my role as a mediator, and to all mediating parties, says Marina Corodemus.