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Adobe’s $20 billion mega-bid to buy rival Figma is now officially dead, after the companies said today that regulatory pushback in Europe had caused them to put an end to the acquisition plans. All rights reserved. For personal use only.
Snowflake is buying Samooha, a startup developing a “cross-cloud” data collaboration suite, the companies announced this morning — adding to the list of big tech acquisitions leading up to the holiday season. All rights reserved. For personal use only.
Our M&A team is honored to have represented clients in some of the most compelling transactions in 2023—from advising SoftBank on two acquisitions of public companies in the robotics space, to partnering with sustainable food chain investing firm Paine Schwartz Partners and Special New Fruit Licensing (SNFL) on SNFL’s combination with International (..)
The Private Target Mergers & Acquisitions Deal Points Study (“the Study”) is published on a bi-annual basis by the Market Trends Subcommittee of the ABA Business Law Section’s M&A Committee, which I am happy to serve on.
Looking back at 2023 mergers and acquisitions (M&A) activity, antitrust-related breakup fees continued to be an important tool in allocating antitrust risk between deal parties. In 2023, there were at least 42 publicly announced M&A transactions involving such antitrust reverse breakup fee (ARBF).
2023’s much-discussed downturn in mergers & acquisitions – with global M&A volume and value down 6% and 17%, respectively, from 2022 – was largely driven by the slowdown in the tech sector, with global tech M&A volumes down 51% year over year, while other sectors saw marked increases.
The Federal Trade Commission and the Justice Department jointly issued the 2023 Merger Guidelines on December 18, 2023, which describe the factors and frameworks the agencies will utilize when reviewing mergers and acquisitions. The 2023 Merger Guidelines are not themselves legally binding, but provide transparency into.
In a December 2023 statement, the White House detailed its intention to encourage antitrust enforcers to scrutinize anticompetitive acquisitions and anticompetitive practices in health care. By: ArentFox Schiff
US Corporate Article - The American Bar Association’s (ABA) Business Law Section has released its 2023 Private Target Deal Points Study (the “Study”), the flagship product of the Market Trends Subcommittee of the Mergers and Acquisitions Committee. private companies.
September 7, 2023: ConnectGen, a company that develops, builds, operates, and finances utility-scale clean energy projects, was acquired by Repsol for an estimated $715 million.
July 17, 2023: Complete Solaria, a leading solar technology, services, and installation company, acquired Freedom Acquisition I Corp through a reverse merger. Complete Solaria is a differentiated solar company with unique technology and end-to-end solar solutions, which include financing, project fulfillment, and customer service.
On October 12, 2023, the European Commission (EC) ordered Illumina to unwind its already completed acquisition of the cancer-test provider GRAIL Inc. This is the first time that the EC has ordered a reversal of an acquisition. By: WilmerHale
We know 2023 was not a great year for M&A activity, but seed- and early-stage startups fared much better than their later-stage counterparts. A recent PitchBook article addresses this, highlighting data that shows young startups were much more likely to be the targets of acquisitions last year, a trend that looks to continue into 2024.
In this article from The Threshold, the authors recap a panel on theories of labor harm in mergers, sponsored by the Mergers and Acquisitions Committee of the American Bar Association Section of Antitrust Law. By: Cornerstone Research
This article discusses compliance “Buy America” provisions in federal procurement laws and how the Federal Acquisition Regulations (FAR) implement some of those commitments in government contracts.
Department of Justice (DOJ) encourage companies to self-disclose misconduct discovered during the merger and acquisition process? This month, we ask: Will a new policy from the U.S. By: Morrison & Foerster LLP
WindRose Health Investors has announced its acquisition of CardioOne. CardioOne, founded in 2023 and based in Houston, is a management services partner and technology platform designed for independent cardiology practices. By: McGuireWoods LLP
In 2023, overall mergers & acquisitions (M&A) deal volume was much slower than in prior years; however, as expected, there was a surge in claims during this period.
Editor’s Note: The Hart Scott Rodino Act (HSR Act) is a federal law that requires companies planning to merge or acquire certain assets or voting securities to notify the Federal Trade Commission (FTC) and the Department of Justice (DOJ) before completing the transaction.
The US energy sector’s ongoing consolidation wave, which saw $250 billion worth of deals in 2023 and continues into the current year, is reshaping the industry landscape. As companies seek to deploy cash reserves and enhance their oil and gas portfolios, mergers and acquisitions (M&A) have become increasingly common.
and current IMS Senior Technology Advisor, joins Adam Bloomberg, Senior Client Success Advisor, to discuss why the trial division of Precise joined IMS, how the transition is going, and what clients and colleagues derive most from the acquisition. Paul Null, former partner of Precise, Inc. The trial division of Precise, Inc.
The Foreign Subsidies Regulation that entered into full effect late in 2023, added a third layer of regulatory scrutiny for large European Union (EU) Mergers and Acquisitions, in addition to merger control and foreign investment reviews.
On September 25, 2023, the European Commission (EC) blocked the proposed acquisition by Booking Holdings, Inc. of Flugo Group Holdings AB (eTraveli). This is the EC’s first prohibition of a transaction this year and its first-ever prohibition based solely on concerns regarding “conglomerate effects” identified by the EC—i.e.,
On September 21, 2023, the Federal Trade Commission (FTC) filed a groundbreaking complaint in federal court against PE fund Welsh Carson and its portfolio company, U.S. Anesthesia Partners (USAP), making good on its promise to ramp up enforcement against PE funds and roll-up acquisitions. By: Allen & Overy LLP
billion acquisition of rare disease specialist Horizon Therapeutics in our Q1 and Q2 updates. The FTC’s Amgen/Horizon Lawsuit Ends With a Whimper - We covered the FTC’s investigation into (and litigation challenging) Amgen’s $28.3 By: Goodwin
As part of a continuing and extensive effort this year to update and strengthen Department of Justice (“DOJ”) policies aimed at deterring corporate misconduct, the DOJ announced on October 4, 2023, that it was implementing a new Mergers & Acquisitions Safe Harbor Policy.
On 4 October 2023, Deputy Attorney General (DAG) Lisa Monaco announced a new US Department of Justice (DOJ) Safe Harbor Policy for voluntary self-disclosure made in connection with mergers and acquisitions (M&A). By: K&L Gates LLP
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). By: Foley & Lardner LLP
On October 5, 2023, Deputy Attorney General, Lisa Monaco, announced a new safe harbor policy for voluntary self-disclosures made in the mergers and acquisitions context.
We counsel our automotive clients on a broad range of industry-specific issues, including matters relating to mergers and acquisitions, antitrust, litigation, regulatory concerns, intellectual property, and labor and employment. This issue of Morgan Lewis AUTOMOTIVE & MOBILITY, which. By: Morgan Lewis
“At this acquisition price point, we believe this deal will deliver strong long-term value for Getaround stakeholders,” said Sam Zaid, CEO and founder of Getaround, in a statement. Getaround first debuted on the public markets in December after merging with a special purpose acquisition company.
Overview - The year 2022 started strong but proved to be a mixed year for M&A in what could be described as a return to earth after the record-setting year that was 2021. M&A market alone exceeded $2 trillion in 2021 – a staggering figure that crushed (by nearly 30%) the then-existing record established in 2015.
4, 2023, in remarks delivered to the Society of Corporate Compliance and Ethics’ 22nd Annual Compliance & Ethics Institute, Deputy Attorney General (AG) Lisa Monaco announced the Department of Justice’s (DOJ) new Mergers & Acquisitions Safe Harbor Policy.
European Commission Orders Unprecedented Unwinding Of Illumina’s Acquisition of GRAIL. s 2021 acquisition of GRAIL Inc., For the first time, the European Commission has ordered reversal of a consummated transaction, Illumina Inc.’s a company developing blood tests for cancer detection. By: WilmerHale
The VSD Policy substantially tracks the language of the previous VSD Policy (dated March 1, 2023) but makes a few notable updates, mostly to implement last year’s announcement by the Deputy Attorney General of a Department-wide Safe Harbor Policy in connection with mergers and acquisitions. By: Mayer Brown
Altor’s acquisition of Mandatum) - Medium-sized deals—UK retains its crown for consolidation activity (e.g., LGT’s acquisition of abrdn Capital as well as abrdn Smaller Companies Income Trust & Shires Income merger) - Smaller deals—France replaces.
Pan-European banks, including Mediobanca and Deutsche Bank, seek senior dealmaker bench strength through high profile acquisitions. By: White & Case LLP
Editor’s Note: The Hart Scott Rodino Act (HSR Act), a pivotal federal law, mandates companies to notify the Federal Trade Commission (FTC) and the Department of Justice (DOJ) before finalizing mergers or acquisitions involving certain assets or voting securities.
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