Gibson Dunn is steering Houston-based defense and space contractor KBR on a new deal to buy LinQuest Corp., a provider of defense analytics to the U.S. government represented by Kirkland & Ellis, for $737 million, according to a statement from KBR on Tuesday.
Law360
Mergers & Acquisitions
WEDNESDAY, JULY 17, 2024 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

Gibson Dunn, Kirkland Steer $737M KBR-LinQuest Deal

By Al Barbarino

Gibson Dunn is steering Houston-based defense and space contractor KBR on a new deal to buy LinQuest Corp., a provider of defense analytics to the U.S. government represented by Kirkland & Ellis, for $737 million, according to a statement from KBR on Tuesday.

Read full article » | Save to favorites »

Kirkland-Led Blue Owl Buys Atalaya Capital For Up To $800M

By Jade Martinez-Pogue

Kirkland & Ellis LLP-advised private-equity shop Blue Owl Capital Inc. on Tuesday unveiled plans to buy alternative credit manager Atalaya Capital Management LP, led by Cravath Swaine & Moore LLP, for up to $800 million, continuing a trend seen earlier in the year of private-equity firms merging with or acquiring other asset managers.

Read full article » | Save to favorites »

Masimo Accuses Politan Of Deceit In Hostile Takeover

By Dorothy Atkins

Masimo Corp. has hit the activist investment firm Politan Capital Management LP and its top brass with a lawsuit in California federal court, accusing the hedge fund of violating securities laws by trying to gain control of Masimo through a proxy contest that duped Masimo shareholders using "lies and deceit."

Complaint attached | Read full article » | Save to favorites »

RISING STAR

Rising Star: Wachtell's Eric M. Feinstein

By Jade Martinez-Pogue

Eric Feinstein of Wachtell Lipton Rosen & Katz has advised various companies on highly complex M&A transactions, including Fidelity National Information Service's $18.5 billion carve-out sale of its Worldpay merchant solutions business to private equity giant GTCR, earning him a spot among the mergers and acquisitions law practitioners under age 40 honored by Law360 as Rising Stars.

Read full article » | Save to favorites »

DIVERSITY SNAPSHOT

The 2024 Diversity Snapshot: What You Need To Know

By Xiumei Dong

Law firms' ongoing initiatives to address diversity challenges have driven another year of progress, with the representation of minority attorneys continuing to improve across the board, albeit at a slower pace than in previous years. Here's our data dive into minority representation at law firms in 2023.

Read full article » | Save to favorites »

These Firms Have The Most Diverse Equity Partnerships

By Gerald Schifman

Law360’s law firm survey shows that firms' efforts to diversify their equity partner ranks are lagging. But some have embraced a broader talent pool at the equity partner level. Here are the ones that stood out.

Read full article » | Save to favorites »

DELAWARE

Chancery OKs $42.5M Brookfield-GGP Settlement, $11.4M Fee

By Leslie A. Pappas

Shareholders of mall operator GGP Inc. who sued in 2018 to stop its $9.25 billion acquisition by Brookfield Property Partners LP got the Chancery Court's nod Tuesday to settle the litigation for $42.5 million, including an $11.4 million fee for the plaintiffs' counsel and incentive awards for three shareholder plaintiffs.

Brief attached | Read full article » | Save to favorites »

Chancery Orders Illumina Docs Released In Grail Merger Fight

By Jeff Montgomery

Benefit fund shareholders of biotech giant Illumina Inc. won a Delaware Court of Chancery order on Tuesday for a rare, limited release of legal advice documents on Illumina's merger agreement with cancer-testing firm Grail Inc., a deal that has cost the company billions in fines and lost value.

Read full article » | Save to favorites »

​​​​​​​Apollo's $1.85B Mining Co. Deal Sparks Del. Suit For Docs

By Jeff Montgomery

An investor sued a mining and logistics company in Delaware's Court of Chancery seeking documents regarding the firm's $1.85 billion go-private deal with affiliates of asset management giant Apollo, approved Tuesday by the mineral producer's stockholders, asserting that there are credible concerns over pre-transaction communications between its executives and Apollo about their jobs.

Complaint attached | Read full article » | Save to favorites »

Brief

AI Robotics Investor Sues In Delaware For Duty Breaches

By Leslie A. Pappas

A shareholder of a special purpose acquisition company that took artificial intelligence robotics company Berkshire Grey Inc. public filed a putative class action in Delaware's Court of Chancery late Monday against the company's officers and directors, seeking damages for breaches of fiduciary duty.

2 documents attached | Read full article » | Save to favorites »

MERGER REVIEW

FTC's In-House Kroger Case Delayed Until After Fed Suit

By Bryan Koenig

Kroger and Albertsons are getting a limited respite from the Federal Trade Commission's looming in-house merger challenge after an agency administrative law judge agreed to delay the case, but only until immediately after an Oregon federal court fight plays out.

Order attached | Read full article » | Save to favorites »

UK's Probe Of Microsoft-Inflection AI Deal Moves Ahead

By Matthew Perlman

The U.K.'s antitrust enforcer launched a formal merger inquiry on Tuesday into Microsoft Corp.'s relationship with Inflection AI after asking for public input earlier this year on several artificial intelligence investments made by Microsoft and Amazon.

Notice attached | Read full article » | Save to favorites »

SHAREHOLDER ACTIVISM

Starboard Demands Change At Tinder Owner Match

By Al Barbarino

New York-based activist investor Starboard Value LP has amassed a 6.6% stake in Match Group Inc. and is pushing the company to go private if it can't make "value-enhancing" gains after its stock plummeted from its 2021 heyday, according to a letter published Tuesday by Starboard.

Letter attached | Read full article » | Save to favorites »

DEALS

Precision Tools Supplier To Buy US Rival For Up To $683M

By Tom Fish

Spectris said Tuesday that it has agreed to buy rival U.S.-based Micromeritics in a deal worth up to $683 million as the British precision tools supplier looks to improve its advanced materials analysis division and grow into the clean technology sector.

Read full article » | Save to favorites »

PEOPLE

Stradley Ronon Hires 2 Corporate Attorneys In DC

By Jack Rodgers

Stradley Ronon Stevens & Young LLP has hired two corporate partners in Washington, D.C., and one of those new additions will co-lead the firm's private investment funds practice, according to a Monday announcement.

Read full article » | Save to favorites »

Manatt Adds Healthcare Transactions Partner From McDermott

By Yeji Jesse Lee

Manatt Phelps & Phillips LLP has added a new healthcare partner to its Boston office.

Read full article » | Save to favorites »

EXPERT ANALYSIS

A Look At State AGs Supermarket Antitrust Enforcement Push

The ongoing antitrust intervention by state attorneys general in the proposed Kroger and Albertsons merger suggests that states are straying from a Federal Trade Commission follow-on strategy in the supermarket space, which involved joining federal investigations or lawsuits and settling for the same divestment remedies, say attorneys at Troutman Pepper.

2 documents attached | Read full article » | Save to favorites »

How To Survive Shareholder Activism

In an era where shareholder activism is on the rise, companies must identify weaknesses, clearly communicate strategies, update board composition and engage with shareholders consistently in order to avoid disruptive shareholder activism and safeguard the interests of both the company and its shareholders, say J.T. Ho at Orrick and Greg Taxin at Spotlight Advisors.

Read full article » | Save to favorites »

'Outsourcing' Ruling, 5 Years On: A Warning, Not A Watershed

A New York federal court’s 2019 ruling in U.S. v. Connolly, holding that the government improperly outsourced an investigation to Deutsche Bank, has not undercut corporate cooperation incentives as feared — but companies should not completely ignore the lessons of the case, say Temidayo Aganga-Williams and Anna Nabutovsky at Selendy Gay.

Read full article » | Save to favorites »

Big Business May Come To Rue The Post-Administrative State

Many have framed the U.S. Supreme Court’s recent decisions overturning Chevron deference and extending the window to challenge regulations as big wins for big business, but sand in the gears of agency rulemaking may be a double-edged sword, creating prolonged uncertainty that impedes businesses’ ability to plan for the future, says Todd Baker at Columbia University.

Read full article » | Save to favorites »

Series

Serving In The National Guard Makes Me A Better Lawyer

My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.

Read full article » | Save to favorites »

LEGAL INDUSTRY

Analysis

3 Reasons Why 2nd Menendez Bribery Case Was The Charm

By Carla Baranauckas

Nearly seven years after the government's first bribery case against longtime U.S. Sen. Robert Menendez collapsed in a hung jury, prosecutors avenged that loss Tuesday by sealing a conviction on a new round of corruption charges.

Read full article » | Save to favorites »

Menendez Guilty Of 'Shocking Corruption,' Urged To Resign

By Cara Salvatore, Pete Brush and Carla Baranauckas

A New York federal jury found U.S. Sen. Robert Menendez guilty on Tuesday of taking gold bars, cash and a Mercedes-Benz as bribes from three businessmen, handing a victory to the government on its second try to convict the embattled New Jersey Democrat on corruption charges and prompting calls for his resignation.

Read full article » | Save to favorites »

Trump Special Prosecutor Ruling Could Find Favor On Appeal

By Carolina Bolado

When U.S. District Judge Aileen Cannon dismissed the criminal case against former President Donald Trump in Florida over what she said was an unconstitutional appointment of a special prosecutor, she staked out a position that few other jurists have taken, but that could find support among some appellate judges, experts said.

Read full article » | Save to favorites »

Ex-Trump Counsel Has Advice For GOP On Judicial Noms

By Courtney Bublé

A former Trump White House official who worked on judicial nominations has advised a potential future Republican administration to be aggressive, proactive and not to compromise on circuit court picks.

1 document attached | Read full article » | Save to favorites »

Smirnov Wants David Weiss DQ'd After Trump Docs Ruling

By Hailey Konnath

Former FBI informant Alexander Smirnov said Monday that a Florida federal judge's order disqualifying the special prosecutor in the Donald Trump classified documents case means special counsel David Weiss should also be disqualified from Smirnov's case, according to a motion filed in California federal court.

Motion attached | Read full article » | Save to favorites »

Fed. Circ. OKs Judge Connolly's Fine Against IP Biz Owner

By Andrew Karpan

A precedential ruling from the Federal Circuit on Tuesday found that Delaware's top judge has the right to fine a Texas paralegal who is the sole owner of patent litigation outfit Backertop Licensing LLC $200 a day for refusing to show up in court as part of the judge's investigation into whether Backertop and others hid their connection to big-name intellectual property consulting firm IP Edge.

Opinion attached | Read full article » | Save to favorites »

Musk Says X, SpaceX Moving To Texas Over Calif. Gender Law

By Lauren Berg

Elon Musk took to X Tuesday to announce he will be moving the headquarters of the social media company and his astronautics company, SpaceX, out of California to Texas, after Golden State Gov. Gavin Newsom signed a bill that bars policies mandating that teachers notify parents about students' gender identity.

Read full article » | Save to favorites »

$4.5M Davis Wright Deal In Ore. Fraud Suit Gets Final OK

By Sydney Price

An Oregon federal judge has fully adopted a magistrate judge's recommendation to sign off on a $4.5 million deal resolving investor claims against law firm Davis Wright Tremaine LLP for its work representing entities involved in an alleged real estate securities fraud scheme, while two banks were dismissed from the case.

3 documents attached | Read full article » | Save to favorites »

Tesla Swaps Cravath Out, WilmerHale In For Antitrust Defense

By Lauren Berg

WilmerHale has taken over from Cravath Swaine & Moore LLP as counsel for Tesla in a proposed class action in California federal court alleging the company runs an unlawful monopoly on parts for its electric vehicles.

3 documents attached | Read full article » | Save to favorites »

ACLU Legal Director Leaving For Expanded Georgetown Role

By Kevin Penton

The American Civil Liberties Union's national legal director plans to step down from a role he has held for eight years, the organization confirmed Tuesday.

Read full article » | Save to favorites »

Groups Slam UC Berkeley's 'Misreading' Of Antisemitism Case

By Jake Maher

Jewish organizations suing the University of California, Berkeley, and its law school for allegedly tolerating an antisemitic culture on campus fought to keep their suit alive this week in the face of a motion to dismiss, maintaining their claims are ripe despite UC Berkeley's "bold misreading" of the case.

Brief attached | Read full article » | Save to favorites »

Promo that reads Law360 Diversity Snapshot Promo that reads 2024 Rising Stars

LAW FIRMS IN TODAY'S NEWS

Abrams & Bayliss

Akin Gump

Andrews & Springer

ArentFox Schiff

Arnold & Porter

Atheria Law

Atkinson Andelson

Baker Botts

Baker Donelson

Berry Appleman

Best Best & Krieger

Boies Schiller

Bookoff McAndrews

Buchalter APC

Buckley LLP

Cahill Gordon

Carlton Fields

Chamberlain Hrdlicka

Cleary Gottlieb

Coburn & Greenbaum

Cohen Milstein

Continental PLLC

Cooley LLP

Cravath Swaine

Crowell & Moring

Cuneo Gilbert

Davis & Wright

Davis Wright Tremaine LLP

Debevoise & Plimpton

Dechert LLP

Diaz Reus

Ellis George LLP

Esler Stephens

Farella Braun

Finger & Slanina

Finnegan

Fragomen Del Rey

Freed Kanner

Fullerton Beck

Gibbons PC

Gibson Dunn

Glancy Prongay

Gross Klein

Hogan Lovells

Holland & Knight

Irell & Manella

Jones Day

Kahn Swick

Kasowitz Benson

Keesal Young

Keker Van Nest & Peters

Kirkland & Ellis

Knobbe Martens

Kudman Trachten

Larkins Vacura

Latham & Watkins

Law Office of Frank DiPrima

Lozano Smith

Manatt Phelps

Manning & Kass

McDermott Will & Emery

Morris Nichols

Morrison Foerster

Munger Tolles

Nelson Mullins

Nossaman LLP

Orrick Herrington

Paternoster Farnell

Paul Hastings

Pearson Warshaw

Perkins Coie

Potter Anderson

Prickett Jones

Richards Layton

Riley Safer

Roig Lawyers

Saveri & Saveri

Schneider Wallace

Seed IP

Selendy Gay

Shutts & Bowen

Simpson Thacher & Bartlett LLP

Squire Patton

Sterne Kessler

Stoll Berne

Stradley Ronon

Stull Stull

Sullivan & Cromwell

Summit Law Group

The Law Firm of Cesar de Castro

Tostrud Law Group

Troutman Pepper

Wachtell Lipton

Waymaker LLP

Weil Gotshal

White & Case

Williams & Connolly

Willkie Farr

WilmerHale

Wilson Sonsini

Withersworldwide

Wolf Popper

Wong Fleming

Young Conaway

Zuber Lawler

COMPANIES IN TODAY'S NEWS

Activision Blizzard Inc.

Ahold Delhaize

Albertsons Cos. Inc.

Amazon.com Inc.

American Civil Liberties Union

Anthropic PBC

Atalaya Capital Management

Baltimore Orioles

Blue Owl Capital Inc.

Brookfield Property Partners LP

C&S Wholesale Grocers

Capri Holdings Ltd.

Centene Corp.

Chevron Corp.

Cottrell Inc.

Delhaize Group

Deutsche Bank AG

Food Lion LLC

Fort Point Capital

GRAIL Inc.

General Growth Properties Inc.

Google LLC

Hannaford Brothers Co.

Illumina Inc.

King Soopers

Kuvare US Holdings Inc.

LinkedIn Corp.

Live Nation Entertainment Inc.

London Stock Exchange Group PLC

Masimo Corp.

Match Group LLC

Match.com Inc.

Mercedes-Benz USA LLC

Michael Kors Holdings Ltd.

Microsoft Corp.

NVIDIA Corp.

National Collegiate Athletic Association

National Rifle Association of America

New York Law School

Pacific Premier Bancorp Inc.

Perrigo Co. PLC

Regents of the University of California

Riverview Bancorp Inc.

Roadrunner Transportation Systems Inc.

Safeway Inc.

SoftBank Group Corp.

Space Exploration Technologies Corp.

Spectris PLC

Starboard Value LP

Stop & Shop Supermarket Co.

Tapestry Inc.

Tesla Inc.

The Carlyle Group Inc.

The Goldman Sachs Group Inc.

The Golub Corp.

The Kroger Co.

U.S. Silica Holdings Inc.

Viatris Inc.

Worldpay LLC

GOVERNMENT AGENCIES IN TODAY'S NEWS

Commodity Futures Trading Commission

Competition and Markets Authority

Consumer Financial Protection Bureau

Delaware Court of Chancery

Equal Employment Opportunity Commission

European Commission

Federal Bureau of Investigation

Federal Communications Commission

Federal Reserve System

Federal Trade Commission

National Labor Relations Board

New York Attorney General's Office

Office of the Comptroller of the Currency

U.S. Air Force

U.S. Attorney's Office for the Eastern District of New York

U.S. Attorney's Office for the Southern District of New York

U.S. Civilian Board of Contract Appeals

U.S. Court of Appeals for the Federal Circuit

U.S. Department of Defense

U.S. Department of Health and Human Services

U.S. Department of Justice

U.S. Department of the Treasury

U.S. District Court for the Central District of California

U.S. District Court for the District of Columbia

U.S. District Court for the District of Oregon

U.S. District Court for the Eastern District of New York

U.S. District Court for the Northern District of California

U.S. District Court for the Southern District of Florida

U.S. District Court for the Southern District of New York

U.S. Environmental Protection Agency

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court

United States District Court for the Eastern District of Wisconsin