Shearman & Sterling acted as the M&A counsel to Gebr. Knauf KG in connection with its $7 billion acquisition of USG Corporation. The combined company will have global manufacturing and sales operations for gypsum wall board, ceiling products and fiberglass insulation with approximately 36,000 employees around the world.

Shearman & Sterling advised the shareholders of SUSPA GmbH on the sale of the company to Mr. Pascal Vanhalst. The transaction is expected to close at the end of June 2018.

Shearman & Sterling advised industrial conglomerate Textron on the sale of its Tools and Test Business (“Tools & Test”) to Emerson, a global technology and engineering company, for approximately $810 million.  The acquisition, joined with Emerson’s Ridge Tool Company, creates a global $1 billion professional tools business with the broadest offering for mechanical, electrical and plumbing contractors. The closing of the transaction is subject to the satisfaction of customary closing conditions, including the receipt of regulatory approvals.

Partners Matthew Readings (London-Antitrust) and James Webber (London-Antitrust) will speak at the GCR Live Annual Brussels Conference on July 9-10, 2018 in Brussels.

Partner Matthew Readings (London-Antitrust) will speak at the Hong Kong: 7th Annual Competition Law & Regulatory Global Forum 2018 organized by Wolters Kluwer and Legal Plus in Hong Kong on July, 5 2018.

We are proud to host the inaugural conference for leading women general counsel and chief legal officers on June 14 in our New York office. The full-day event will include high-profile speakers from media, industry, government and non-profits, interactive presentations, and the chance to connect with colleagues who are leading and changing the legal landscape.

Shearman & Sterling’s bi-annual Trends & Patterns in FCPA Enforcement report provides insightful analysis of recent enforcement trends and patterns in the US, the UK and elsewhere, as well as helpful guidance on emerging best practices in FCPA and global anti-corruption compliance programs.

On June 25, 2018, the U.S. Supreme Court, in a 5-4 decision by Justice Thomas, held that provisions in American Express Company’s (“American Express”) and its operating subsidiary’s contracts with merchants that restricted the ability of these merchants to steer customers to other credit or charge cards did not violate the Sherman Act. Ohio v. American Express Co., 585 U.S. __, slip op. at 1 (2018). The Court held that plaintiffs—the United States Department of Justice and the Attorneys General of several states—failed to satisfy their burden of proving anticompetitive effects in the relevant market under the rule of reason. 

On June 14, Justice Ginsburg, writing for a unanimous U.S. Supreme Court, reversed a 2016 opinion by the Second Circuit and held that a foreign government’s interpretation of its own law is not binding on U.S. courts.