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DOJ Declines to Prosecute Private Equity Firm after Post-Acquisition Voluntary Self-Disclosure of Sanctions and Export Control Violations

JD Supra: Mergers

In its first application of the policy on voluntary self-disclosures (“VSDs”) in connection with mergers and acquisitions (“M&A”), on June 16, 2025, the US Department of Justice’s (“DOJ”) National Security Division (“NSD”) announced that it had declined to prosecute a US private equity firm after it voluntarily disclosed criminal violations of (..)

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Illinois and Minnesota AGs Join FTC’s Lawsuit Against Private Equity Firm

JD Supra: Mergers

Illinois Attorney General (AG) Kwame Raoul and Minnesota AG Keith Ellison have joined the Federal Trade Commission (FTC) in a lawsuit to block the acquisition of Surmodics Inc. The regulators allege that the merger is anticompetitive, violating Section 7 of the Clayton Act and Section 5 of the FTC Act. By: Troutman Pepper Locke

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A DOJ Private Equity Declination and Its Lessons for Acquirers and Targets

JD Supra: Mergers

The DOJ declined to prosecute a private equity firm for its portfolio company’s pre-acquisition sanctions and export violations, marking the first application of the National Security Division’s M&A Policy.

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Important Tax Update: Luxembourg Court Decision on Interest Free Loans and Debt to Equity Ratio – A Global Impact

JD Supra: Mergers

International transactions, such as private equity deals, mergers and acquisitions, and financing arrangements, frequently leverage Luxembourg entities as holding companies or joint ventures.

Debt 130
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DOJ’s M&A Safe Harbor Highlights Importance of Post-Close Due Diligence and Integration

JD Supra: Mergers

Department of Justice’s (DOJ’s or Department’s) National Security Division (NSD or Division) announced they had declined to prosecute the private equity firm White Deer Management LLC for violations of U.S. This marks the first declination by the DOJ since the Department released its Merger and Acquisitions Policy in March 2024.

M&A 130
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Delaware Chancery Court Finds Private Equity Majority Owner Not Liable to Minority Investors Where LLC Agreement Waived Fiduciary Duties

JD Supra: Mergers

In a recent decision, the Delaware Court of Chancery dismissed breach of fiduciary duty claims asserted by minority unitholders in connection with the acquisition of CityMD by VillageMD. In Kahn, et al. Warburg Pincus, et al.,

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Physician Practice Private Equity Transactions – A Refresher

JD Supra: Mergers

All indications appear to point toward a robust market for health care mergers and acquisitions (M&A) in the coming year. Inflation finally appears to be easing. With that, we may continue to see interest rate cuts from the Federal Reserve.