Credit: Yingyaipumi/Adobe Stock Deal Watch: Big Energy and Pharma Deals Continue to Drive M&A
Five of the six announced deals over $1 billion in the last week occurred in either the life sciences or energy sector.
March 18, 2024 at 04:59 PM
10 minute read
What You Need to Know
- Latham, S&C work multiple deals in big week for energy, life sciences.
- Deal makers are still unsure about 2024, but are pretty sure it will look more like 2023 than 2021.
- But the convergence of several factors in the market could tip the scales.
With the technology sector still reeling, the primary drivers for M&A this year appear to be life sciences and energy, and that bears out in this past week's announced deals. Five of the six announced deals over $1 billion in the last week occurred in either the life sciences or energy sector.
The largest announced M&A deal in the last week was the EQT/Equitrans natural gas sector merger from last Monday, valued at $35 billion. That transaction ties with Synopsys' pending $35 billion purchase of software company Ansys, announced in January, as the second-largest M&A deal of 2024.
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Law Firms Mentioned
- Ogier
- Freshfields Bruckhaus Deringer
- Holland & Hart LLP
- Davis Polk & Wardwell
- Legance
- Cravath, Swaine & Moore
- Osler Hoskins
- Sullivan & Worcester
- McDermott Will & Emery
- Amarchand & Mangaldas & Suresh A Shroff & Co
- Richards, Layton & Finger, PA
- Latham & Watkins
- Milbank LLP
- Sidley Austin
- Simpson Thacher & Bartlett
- Gibson, Dunn & Crutcher
- Sullivan & Cromwell LLP
- Paul Hastings
- Pepper Hamilton
- Gunderson Dettmer Stough
- Vinson & Elkins
- White & Case
- Fried, Frank, Harris, Shriver & Jacobson
- Ellenoff Grossman And Schole Llp
- Kirkland & Ellis
- Alston & Bird
- Cooley
- Weil, Gotshal & Manges
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Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
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