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Semiconductor design and software firm Synopsys on Tuesday announced it would acquire Ansys , an engineering and product design software firm, in a cash-and-stock deal valued at approximately $35 billion. Synopsys will pay consideration of roughly $390 per share: $197 per share in cash and roughly one-third of a Synopsys share for each Ansys share. Synopsys shares were up 3% on Tuesday morning, after a 12% slump since The Wall Street Journal reported in December that the two companies were in advanced talks. Ansys shares slipped 5% but were up more than 14% in that same period since December. The remaining $3 billion nonequity consideration will come from Synopsys' cash.
Persons: Synopsys, Ansys, Sassine Ghazi, Shelagh Glaser, Ghazi, Ajei Gopal, Evercore, Cleary Gottlieb Steen, Hamilton, Goodwin Procter, Raimondo, Chips Organizations: Street, Activision Blizzard, VMware, Cisco, Splunk, Qatalyst Partners Locations: China
(Reuters) - U.S. law firm Paul Hastings said Thursday that it has hired two partners from rival Goodwin Procter as practice leaders in New York and Washington, D.C.Seo Salimi is departing Goodwin after more than eight years to co-lead Paul Hastings' equity capital markets and corporate life sciences practices in New York. His clients have included Karuna Therapeutics, CRISPR Therapeutics, Goldman Sachs and J.P. Morgan Securities, according to his former profile on Goodwin's website. Salimi is joining Paul Hastings along with Sean Donahue, who will chair the firm's public company advisory practice group and co-chair its shareholder activism and takeover defense group. The Los Angeles-founded firm has hired at least 24 partners globally since January. Read more:Law firm Goodwin taps new Silicon Valley-based chairPaul Hastings team takes Latin America-focused deal practice to Baker McKenzieOur Standards: The Thomson Reuters Trust Principles.
Persons: Paul Hastings, Goodwin Procter, Seo Salimi, Goodwin, Salimi, Goldman Sachs, J.P, Sean Donahue, Donahue, Dana Syracuse, Perkins Coie, Kenneth Deutsch, Latham & Watkins, Baker McKenzie Organizations: Reuters, . Securities, Exchange Commission, Karuna Therapeutics, CRISPR Therapeutics, Morgan Securities, Washington , D.C, of Corporation Finance, Latham &, Latin, Thomson Locations: New York, Washington, Washington ,, SEC's, Los Angeles, Boston, Latin America
Veteran Morgan Stanley dealmaker Rob Kindler to join law firm
  + stars: | 2023-06-06 | by ( ) www.reuters.com   time to read: +2 min
June 6 (Reuters) - Rob Kindler, a top executive at Morgan Stanley (MS.N), is leaving the investment bank after a 17-year stint to join a major law firm. The veteran dealmaker will join Paul, Weiss, Rifkind, Wharton & Garrison as the global chair of mergers and acquisitions (M&A), the law firm said on Tuesday. A New Yorker, Kindler began his legal practice at Cravath, Swaine & Moore, another major law firm where he spent nearly two decades. "I am delighted to once again have him as my partner," said Barshay, who is the chair of the Paul, Weiss' corporate department. Kindler's return to legal practice coincides with a challenging period for the industry, which like investment banks, has been navigating a dreary environment for dealmaking.
Persons: Rob Kindler, Morgan Stanley, dealmaker, Paul, Weiss, Kindler, Moore, Kindler's, Scott Barshay, Barshay, Cooley, Goodwin Procter, Niket, Maju Samuel, Chris Reese Organizations: Garrison, Yorker, JPMorgan, Comcast, AT, T Broadband, Dow, IHS, Wall Street, Apollo Global, Arconic, WWE, Endeavor Group, UFC, Thomson Locations: Rifkind, Wharton, New York, Cravath, Bengaluru
AI startups must secure patents and manage concerns about bias, safety, and security risks. Artificial-intelligence startups are continuing to draw venture-capital support, pulling in some $72 billion in 2022, according to data from PitchBook. For one thing, AI poses questions around the kind of privacy and safety issues that can be subject to regulation and government oversight. Meanwhile, novel uses of AI technology have already brought unusual legal questions up to the courts. That kind of work also often leads to more work for regulatory, litigation and other attorneys with expertise in AI technology, who can advise on procurement contracts, risks involving software, and cybersecurity.
Feb 22 (Reuters) - Major abortion rights organizations and private law firms have teamed up to provide legal counsel to patients and providers navigating the complicated patchwork of U.S. abortion laws, the groups said on Wednesday. The Supreme Court's June 2022 decision to overturn Roe v. Wade, a nearly 50-year-old precedent that established federal abortion rights, has resulted in a dozen states banning abortion almost entirely. The group's launch comes a day after 20 Democratic governors announced they had formed an alliance to protect abortion rights and access within their states. Abortion rights supporters have been largely dissatisfied with the Democratic-led administration's response to the elimination of abortion access in large swaths of the country. Abortion providers and those supporting abortion patients can seek counsel through the network, while patients will be referred to a helpline already run by If/When/How, one of the network's advocacy partners.
Law Firms Turn to Layoffs Amid Slowing Demand
  + stars: | 2023-02-13 | by ( Erin Mulvaney | ) www.wsj.com   time to read: 1 min
Some large law firms, citing economic headwinds and slowing demand, are tightening their belts by shrinking their attorney ranks and eliminating professional staff. The law firms that have cut associate attorneys in recent months include Shearman & Sterling LLP, Goodwin Procter LLP and Stroock & Stroock & Lavan LLP. Davis Wright Tremaine LLP said it would eliminate professional staff, but not attorneys.
Law firms including Olshan Frome Wolosky LLP and Schulte Roth & Zabel are go-tos for activist investors looking to change how companies do business. Kai Liekefett, who co-chairs Sidley's shareholder activism practice, last year successfully defended cloud company Box Inc. in a proxy fight by Starboard. Liekefett has also defended clients against major activist investors including Carl Icahn and Trian Partners. He has advised clients against major activist investors including Trian, Carl Icahn, Starboard Value and the billionaire Paul Singer. Lawrence Elbaum and Patrick Gadson, Vinson & ElkinsPatrick Gadson (L) and Lawrence Elbaum (R), co-heads of Vinson & Elkins' shareholder activism group.
The law firm's cyber insurer paid a ransom and wants to hold a tech vendor liable for $2.4 million. The law firm was one of several breached, including Goodwin Procter and Jones Day. The law firm Brown Rudnick paid criminal hackers $2 million in 2020 so they wouldn't publish confidential records online, and its insurer is still trying to recoup the money it spent responding to the attack, Insider has discovered. The software company paid out millions of dollars to settle with people and businesses impacted by the hack. Brown Rudnick’s name was included in a technical alert that was pasted into the lawsuit by its insurance company.
But at Big Law firms, "managing out" is common, with lawyers quietly directed to look for work elsewhere. O's story stands to become more common as the economy cools and Big Law firms seek to quietly cut costs without technically laying people off. Here's how Big Law firms let people go. Most Big Law firms operate under an "up or out" system, where lawyers are either expected to make partner or leave. Big Law lets more people go and slows down hiring in tough economic timesOne point of agreement is that stealth layoffs rise in economic downturns.
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