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European Commission Merger Policy Speech Reflects Alignment with US Agency Policy, Pre-2021

JD Supra: Mergers

Today's speech by Guillaume Loriot -- the EC's Deputy Director General for Mergers -- is worth a read. Without agreeing necessarily with all of the enforcement decisions described therein, it is striking how much the speech reminds me of those given by US antitrust officials back in the 1990s, 2000s, and much of the 2010s.

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2024 Predictions: Unveiling the future of healthcare mergers and acquisitions

JD Supra: Mergers

Today, a tale of two markets are seen in healthcare mergers and acquisition (M&A): the present (as reflected in the data about declining dealmaking) and the future (reflected in the increasingly positive outlook by dealmakers).

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Fiscal Year 2022 Hart-Scott-Rodino Annual Report Provides Data on Antitrust Merger Enforcement for First Full Fiscal Year of Biden Administration

JD Supra: Mergers

The Report covers the period October 1, 2021, through September 30, 2022, which represents the first full fiscal year of the Biden Administration’s merger enforcement efforts. By: Lowenstein Sandler LLP

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SPAC Litigation: A Review of Recent Developments

JD Supra: Mergers

Following enhanced scrutiny from the Securities and Exchange Commission and the poor post-merger performance of many SPACs, the SPAC bubble burst in early 2021 as investors and dealmakers turned their attention elsewhere. By: Jones Day

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UK Government Publishes Second Edition of Market Guidance on NSI Act 2021

JD Supra: Mergers

Following feedback on the first edition of the National Security and Investment Act 2021 (NSI Act) market guidance, a recently published second edition clarifies aspects of the NSI Act for businesses falling within its scope. By: Morgan Lewis

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Delaware Chancery Court Finds a ~27% Founding Stockholder Is Not a Controller

JD Supra: Mergers

AstraZeneca dismissed stockholder claims in connection with the $3 billion merger of Viela Bio and Horizon Therapeutics in 2021. The merger was approved by Viela’s stockholders at a share price of $53.00 On July 2, 2024, the Delaware Chancery Court in Sciannella v. per share, a 52.8% premium over Viela’s share price at the time.

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Ninth Circuit Applies Birnbaum Rule to Affirm Dismissal of Claims by SPAC Investors Asserted Against Target Company Executives for Pre-Merger Statements

JD Supra: Mergers

8, 2024), the United States Court of Appeals for the Ninth Circuit affirmed the dismissal of a securities class action brought by investors who purchased shares of the special purpose acquisition company Churchill Capital Corporation IV (“CCIV”) in early 2021 before it merged with Atieva, Inc. d/b/a Lucid Motors (“Lucid”) in July 2021.

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