Legal News

U.S. FTC merger enforcement gathers pace n- This month we have seen a flurry of activity on the merger control front from the U.S. Federal Trade Commission (FTC). Grabbing the headlines is the announcement that the FTC (and 48 attorneys general) have filed suit against Facebook, alleging that the firm breached antitrust laws through acquisitions and other conduct – see below for a separate article which sets out what you need to know....By: Allen & Overy LLP

We looked at 28 deals across Asia that were signed or closed pre-COVID in which the buyer or a group of affiliated buyers acquired all or a significant majority of the outstanding equity of the target, examined the common key terms in these deals, and have sought to provide our insights on the patterns that the results reveal......By: Morrison & Foerster LLP

As a small year-end gift to building developers, the NYC Council passed Int. 2033-2020 to ease the move-in process for owners and occupants. This bill allows the Department of Buildings (DOB) to issue Interim Certificates of Occupancies (ICOs) to authorize the occupancy of specific portions of a building—deemed safe for occupancy—prior to completion of all permitted construction work comprising the project. Importantly, no further DOB approvals are required following issuance of an ICO....By: ...

The Department of Justice Antitrust Division (the “Division”) recently released updated guidance outlining when and how the Division will use arbitration in civil cases and merger investigations in the place of traditional litigation. The Division now encourages the use of arbitration in “appropriate” cases that would benefit from the use of such alternative dispute resolution techniques. The Divisions Approach to Arbitration - Historically, the Division has not used its authorization to....

AstraZeneca, the British-Swedish multinational pharmaceutical company currently collaborating with the University of Oxford on a COVID-19 vaccine, will purchase Alexion Pharmaceuticals for $39 billion. The transaction, which awaits approval by shareholders and regulators, is the largest purchase by a health care company this year and is expected to close in the third quarter of 2021. Alexion was founded in 1992 and is headquartered in Boston but has a global presence. It is known for its...By: ...

In AB Stable VIII LLC v. Maps Hotels and Resorts One LLC, the Delaware Court of Chancery issued a precedential decision addressing whether a buyer could walk away from an M&A transaction because the target company’s responses to the COVID-19 pandemic constituted either a “material adverse effect” (MAE) or a breach of the covenant to operate in the ordinary course of business between signing and closing (“Ordinary Course Covenant”). Although the MAE definition did not include an exception f...

As 2020 comes to a much anticipated close and we approach the one-year anniversary of the start of the global COVID-19 pandemic, it is worth reflecting on the impacts the health crisis has had on the construction marketplace and surety industry and its likely lasting effects in the years to come. As we grappled with these issues from a legal perspective over the past nine months and surveyed our industry colleagues on their thoughts about how the world has (or hasn’t) changed, some clear themes...

On December 8, 2020, in Taylor Morrison of Texas, Inc. v. Kohlmeyer, a Texas Court of Appeals rejected a contractor’s appeal of a trial court order denying the contractor’s motion to compel arbitration in a home construction defect dispute. The appellate court concluded that the theories of direct benefits estoppel and implied assumptions did not permit the contractor to bind a subsequent purchaser to mandatory arbitration required under the original purchase agreement......By: Bradley Arant B...

The Boston Planning and Development Agency (“BPDA”) has approved an amendment to the Boston Zoning Code that would require developers of large residential projects to create inclusive housing opportunities....By: Goulston & Storrs PC

Another day, another new Google antitrust lawsuit—this time thanks to a group of 30-plus states that have accused the company of “illegally arranging its search results to push out smaller rivals.” Oh, and money likely won’t be enough for resolution....By: Robins Kaplan LLP