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WHAT WE'RE WATCHING

A WIN-WIN? - The delta variant is likely wrecking many summer plans. But for law firms, it's presented an opportunity to balance some competing demands. As Christine Simmons writes in this week's Barometer newsletter, some firms are following advice from public health authorities and government officials by mandating their employees get the COVID-19 vaccine. But by doing so, firms say they are not only protecting their employees' health and giving them peace of mind when coming into the office, but also making a return to the office more tenable. And with clients like Morgan Stanley pushing firms to get back to the office as soon as possible, some say that's likely to benefit law firms' business. Still, vaccinations are not a cure-all. Even vaccinated, lawyers and staff will continue pushing for more remote work flexibility, and might still suffer from breakthrough infections.

DELTA DELAYS - So much for a Labor Day reopening. In the face of the delta variant, many firms are postponing their plans to go back to the office. Patrick Smith reports that Paul, Weiss, Rifkind, Wharton & Garrison is delaying "phase 2" of its back-to-the-office plan without a definitive date for re-opening. Other firms, such as McDermott Will & Emery, Schiff Hardin and Akin Gump Strauss Hauer & Feld, have pushed back their re-openings to the fall. Law firms that have waited until recently to formulate a reopening plan are taking notice. Dylan Jackson reports that Debevoise & Plimpton, for instance, announced a staggered return to the office starting in October and ramping up through November in its first such public reopening policy. To be sure, many firms are still taking a wait-and-see approach before changing their plans, including some in southeastern United States, where COVID-19 infections have been growing at rapid rates.

SLOW THOSE M&As -  If the EU seems more aggressive in investigating M&As, it's because it's been a long time coming. Five months after the bloc released new guidance for its merger review regulation, the impact of the change is clearer than ever, Linda A. Thompson reports. From last month's announcement of an investigation into an acquisition by U.S. life sciences company Illumina, to last week's announcement of a probe into Facebook's plans to acquire the U.S.-based software start-up Kustomer, the European M&A market has undeniably become more uncertain and complicated. The new "Article 22 guidance" allows EU countries to raise concerns over M&A deals to Brussels, even if they don't meet a certain minimum threshold. The change is aimed at preventing so-called killer acquisitions, where one company buys out a smaller one in order to stamp out the competition.

EDITOR'S PICKS

Donors Seek Class Action to Claw Back Millions Donated to Church but Used to Underwrite Sexual Misconduct