Deal Watch: Mega M&A Bounces Back, as NY Law Firms Lead Recent Big Deals
The Wall Street firms had a good week, while the reemergence of the 'megadeal' this year has buttressed deal work.
September 10, 2024 at 02:46 PM
8 minute read
Mergers and Acquisitions
Two recent transactions highlight the return of megadeals in 2024, which are continuing to push up demand for top M&A law firms.
Just in the last week, Verizon announced a $20 billion buy of Frontier Communications, while funds managed by Blackstone, together with the Canadian Pension Plan Investment Board, agreed to a $16.1 billion purchase of AirTruck. New York firms such as Debevoise & Plimpton; Paul, Weiss, Rifkind, Wharton & Garrison; Cravath Swaine & Moore; Skadden, Arps, Slate, Meagher & Flom; and Simpson Thacher & Bartlett, among others, helped lead those deals.
According to data from the London Stock Exchange Group, megadeals (those over $10 billion) are up 70% year-over-year, with 20 deals in the first half of 2024 accounting for $363.4 billion. That is the strongest first-half opening since 2022. On the flip side of that, deals under $500 million are down 13% by value and 28% by volume.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Related Stories
View AllYou Might Like
View All
Deal Watch: Gibson Dunn, Latham, Wachtell, Akin, Simpson, Ropes Advise on Big Deals as M&A Activity Climbs
9 minute read
Kirkland, Skadden Top Global M&A League Tables for First Nine Months
Former Wachtell Partner Heads to Debevoise, as Am Law 50 Hiring Keeps Up
3 minute read
Deal Watch: Are Only 'A Handful' of Law Firms Positioned Well After Citi-Apollo Partnership?
5 minute readLaw Firms Mentioned
- Reed Smith
- Simmons Perrine Moyer
- Skadden, Arps, Slate, Meagher & Flom LLP
- Hunton Andrews Kurth
- Baker McKenzie
- Carlile Patchen
- Cleary Gottlieb Steen & Hamilton
- Cooley
- Davis Polk & Wardwell
- Cravath, Swaine & Moore
- Gibson, Dunn & Crutcher
- Kirkland & Ellis
- Lewis Brisbois Bisgaard & Smith
- Milbank LLP
- Paul, Weiss, Rifkind, Warton & Garrison
- Simpson Thacher & Bartlett
- K&L Gates
- Jones Day
- Latham & Watkins
- Perkins Coie
Trending Stories
Who Got The Work
Dechert partners Andrew J. Levander, Angela M. Liu and Neil A. Steiner have stepped in to defend Arbor Realty Trust and certain executives in a pending securities class action. The complaint, filed July 31 in New York Eastern District Court by Levi & Korsinsky, contends that the defendants concealed a 'toxic' mobile home portfolio, vastly overstated collateral in regards to the company's loans and failed to disclose an investigation of the company by the FBI. The case, assigned to U.S. District Judge Pamela K. Chen, is 1:24-cv-05347, Martin v. Arbor Realty Trust, Inc. et al.
Who Got The Work
Arthur G. Jakoby, Ryan Feeney and Maxim M.L. Nowak from Herrick Feinstein have stepped in to defend Charles Dilluvio and Seacor Capital in a pending securities lawsuit. The complaint, filed Sept. 30 in New York Southern District Court by the Securities and Exchange Commission, accuses the defendants of using consulting agreements, attorney opinion letters and other mechanisms to skirt regulations limiting stock sales by affiliate companies and allowing the defendants to unlawfully profit from sales of Enzolytics stock. The case, assigned to U.S. District Judge Andrew L. Carter Jr., is 1:24-cv-07362, Securities and Exchange Commission v. Zhabilov et al.
Who Got The Work
Clark Hill members Vincent Roskovensky and Kevin B. Watson have entered appearances for Architectural Steel and Associated Products in a pending environmental lawsuit. The complaint, filed Aug. 27 in Pennsylvania Eastern District Court by Brodsky & Smith on behalf of Hung Trinh, accuses the defendant of discharging polluted stormwater from its steel facility without a permit in violation of the Clean Water Act. The case, assigned to U.S. District Judge Gerald J. Pappert, is 2:24-cv-04490, Trinh v. Architectural Steel And Associated Products, Inc.
Who Got The Work
Michael R. Yellin of Cole Schotz has entered an appearance for S2 d/b/a the Shoe Surgeon, Dominic Chambrone a/k/a Dominic Ciambrone and other defendants in a pending trademark infringement lawsuit. The case, filed July 15 in New York Southern District Court by DLA Piper on behalf of Nike, seeks to enjoin Ciambrone and the other defendants in their attempts to build an 'entire multifaceted' retail empire through their unauthorized use of Nike’s trademark rights. The case, assigned to U.S. District Judge Naomi Reice Buchwald, is 1:24-cv-05307, Nike Inc. v. S2, Inc. et al.
Who Got The Work
Sullivan & Cromwell partner Adam S. Paris has entered an appearance for Orthofix Medical in a pending securities class action arising from a proposed acquisition of SeaSpine by Orthofix. The suit, filed Sept. 6 in California Southern District Court, by Girard Sharp and the Hall Firm, contends that the offering materials and related oral communications contained untrue statements of material fact. According to the complaint, the defendants made a series of misrepresentations about Orthofix’s disclosure controls and internal controls over financial reporting and ethical compliance. The case, assigned to U.S. District Judge Linda Lopez, is 3:24-cv-01593, O'Hara v. Orthofix Medical Inc. et al.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
