Latest Corporate News
Union Pacific and Norfolk Southern file $85 billion merger application
Union Pacific and Norfolk Southern submitted an $85 billion merger application to the U.S. Surface Transportation Board seeking to create the first coast‑to‑coast freight railroad; the nearly 7,000‑page filing begins an STB review and prompted scrutiny from rival rail operators about competition and regulatory compliance.
BioMarin to acquire Amicus Therapeutics for $4.8 billion
BioMarin agreed to buy Amicus Therapeutics in a $4.8 billion deal to add two new treatments to its commercial portfolio; Kirkland & Ellis advised Amicus on the transaction.
Trump Media & Technology Group merges with TAE Technologies in >$6B transaction
Trump Media & Technology Group Corp. completed a landmark all‑stock merger with fusion company TAE Technologies valued at more than $6 billion, creating one of the first publicly traded fusion companies and planning a utility‑scale fusion plant next year; DLA Piper represented Trump Media in the deal.
Widespread megamergers mark 2025 M&A rebound
2025 saw resurgence of mega deals with 63 transactions globally worth $10 billion or more through late November, signaling renewed appetite for large strategic combinations heading into 2026.
Kirkland advises on major biotech consolidation
Kirkland & Ellis advised Amicus Therapeutics in its $4.8 billion sale to BioMarin, a transaction positioned to bolster BioMarin’s pipeline and commercial offerings in rare disease therapies.
Burke & Herbert to acquire Linkbancorp for $354.2 million
Alexandria‑based Burke & Herbert Financial Services agreed to buy Pennsylvania’s Linkbancorp in an all‑stock transaction valued at about $354.2 million, expanding the bank’s footprint across the mid‑Atlantic with 24 additional locations and expected combined EPS benefits.
Top executive‑search firms complete multiple strategic acquisitions in 2025
Executive‑search and human capital firms completed numerous M&A deals in 2025 — including Egon Zehnder, ZRG, WittKieffer, AC Lion and others — reflecting consolidation in talent advisory and recruiting technology sectors.
SPAC and IPO activity: American Drive and Launchpad Cadenza closings
American Drive Acquisition Company closed a $230 million IPO, and Launchpad Cadenza Acquisition Corp I completed a $230 million offering, illustrating continued SPAC and capital markets activity for acquisition vehicles in late 2025.
Law firms and advisors active on high‑profile corporate deals
Major law firms like DLA Piper and Kirkland & Ellis played lead roles in high‑profile transactions this week, advising on the Trump Media–TAE merger and the Amicus sale respectively, underscoring legal advisory demand in complex cross‑sector deals.
Rail and transport M&A raises competition concerns among rivals
The proposed Union Pacific–Norfolk Southern merger prompted comments from other major rail operators (e.g., Canadian National) and will face detailed STB scrutiny over claimed public benefits and competitive effects.
Human capital tech M&A: Bullhorn acquires TargetRecruit
Recruiting‑software provider Bullhorn acquired TargetRecruit to deepen its Salesforce ecosystem presence and grow its recruitment ISV footprint, part of broader consolidation in recruiting technology.