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Mergers & Acquisitions

The defendants’ opposition brief was unsealed over the weekend and reveals key details on the companies’ proposed divestiture (Integer Holdings is reportedly the buyer). The Divestiture includes Biocoat’s entire UV-cured coatings business and its currently-marketed thermal-cured hydrophilic coatings business (Competitive Thermal Coatings), along...

Financials, Housing

President Trump, Treasury Secretary Bessent, and Commerce Secretary Lutnick recently met with bank CEOs to discuss an IPO of the GSEs later this year, and over the weekend, Trump sent a post implying that he is targeting November as a date for the transaction. This definitive preparatory step and specific timing reference is notably incremental...

Union Pacific/Norfolk Southern: Policy Considerations

We are beginning to see a partisan split in Congress regarding the proposed Union Pacific/Norfolk Southern merger, with numerous Republicans in Congress expressing support for it and Democrats, including Senate Minority Leader Schumer (D-NY), expressing reservations. Notably, some Republicans are also expressing concern about the merger, which is...

Mergers & Acquisitions

Union Pacific/Norfolk Southern: STB Considerations

The companies filed a notice of intent regarding their proposed merger with the Surface Transportation Board (STB) on July 30, 2025. This filing initiates a timeline for the companies to submit a merger application in 3-6 months. The companies stated that they intend to file their application on or before January 29, 2026.

Russian Oil Tariffs/Sanctions

President Trump imposed a 50% tariff on India related to its purchases of Russian energy products. He has said in recent weeks that he would use tariffs and sanctions to coerce Russia to negotiate an end to its war against Ukraine. Unnamed White House officials have reportedly signaled that tariffs on other countries are expected to be imposed...

Despite President Trump’s request for a 40% reduction in NIH funding for FY26, Congressional appropriators are preliminarily moving in the direction of keeping NIH funding flat to modestly positive next fiscal year.