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10.29.26
Early Lessons from the New Accelerated Offering Periods for Tender Offers
In April 2026, the Division of Corporation Finance of the U.S. Securities and Exchange Commission shortened the minimum offering period for certain types of equity tender offers from 20 business days to 10 business days. Since then, Wilson Sonsini has played a lead role—representing both buyers and sellers—in several tender offers that used shortened offering periods. Several lessons and best practices are beginning to emerge.
Client Highlights
10.14.26
Firm Advises Morgan Stanley as Financial Advisor to the Special Committee of Bumble's Board of Directors in Acquisition by Ithaca Holdings
On October 13, 2026, Bumble announced that it entered into a definitive agreement to be acquired by Ithaca Holdings in an all-cash transaction valuing the company at $1.3 billion. Under the terms of the agreement, Bumble common shareholders will receive cash consideration of $6.05 per share of Class A common stock, representing an approximately 138 percent premium to the unaffected closing share price on October 9, 2026, and a premium of approximately 119 percent to the 30-day volume weighted average price as of October 9, 2026. Wilson Sonsini Goodrich & Rosati advised Morgan Stanley, who acted as financial advisor to the Special Committee of Bumble's Board of Directors.
Client Highlights
10.01.26
Wilson Sonsini Advises Stripe on Acquisition of Parafin
On September 30, 2026, Stripe, the programmable financial services company, announced that it has agreed to acquire Parafin, a leading embedded financial products platform. Wilson Sonsini Goodrich & Rosati is advising Stripe on the transaction.
Client Highlights
9.10.26
Wilson Sonsini Advises Copart on Acquisition of ACV
On September 10, 2026, Copart, Inc., a global leader in online vehicle auctions, and ACV, a leading digital automotive marketplace and data services partner for dealers and commercial clients, announced a definitive agreement in which Copart will acquire all outstanding shares of ACV common stock, valued at approximately $1.9 billion. Wilson Sonsini Goodrich & Rosati advised Copart on the transaction.
Alerts
8.17.26
SEC Ends No-Action Responses Under Rule 14a-8
On August 14, 2026, the Division of Corporation Finance (the Division) of the U.S. Securities and Exchange Commission (the SEC or Commission) announced that, effective immediately, it will discontinue responding to no-action requests under Exchange Act Rule 14a-8.
Client Highlights
8.05.26
Firm Advises DISA Technologies on Launch of DISA Uranium Corporation
On August 4, 2026, DISA® Technologies, a uranium recovery and production company, announced the formation of DISA Uranium™ Corporation, a new American company built to recover and produce domestic uranium and remediate the nation's legacy uranium sites. In connection with its launch, DISA Uranium has entered into a definitive agreement to acquire IsoEnergy's Utah uranium portfolio of permitted, past-producing mines and projects—giving DISA Uranium a scaled conventional resource base to pair with its proprietary processing technology and the only U.S. Nuclear Regulatory Commission license of its kind. Wilson Sonsini Goodrich & Rosati advised DISA on the transaction.
Bylined Articles
6.15.26
Law360 Article: “7 Key Questions About SEC’s Faster Tender Offer Path”
Wilson Sonsini attorneys Rob Ishii, Doug Schnell, Remi Korenblit, Tamara Brightwell, and Michael Anthony authored a recent Law360 article titled "7 Key Questions About SEC’s Faster Tender Offer Path." The piece examines the recent order issued by the SEC to shorten the minimum offering period on certain equity tender offers. The authors walk through seven key questions covering eligibility requirements, timeline implications, private company applicability, and strategic considerations—noting that while the shortened period offers meaningful efficiency gains, parties must carefully weigh trade-offs, including reduced time for boards to consider topping proposals and potential sequencing issues with go-shop periods.
Client Highlights
6.02.26
Wilson Sonsini Advises Centerview as Financial Advisor to Motorola Solutions in D-Fend Solutions Acquisition
On June 1, 2026, Motorola Solutions announced that it has entered into a definitive agreement to acquire D-Fend Solutions (D-Fend), an industry leader in counter-drone technology, for a purchase price of $1.5 billion. Wilson Sonsini Goodrich & Rosati advised Centerview Partners LLC, the financial advisor to Motorola Solutions, on the transaction.
D-Fend’s field proven technology is trusted by government, public safety, and enterprise organizations, with thousands of deployments across more than 30 countries, with annual revenue growth of over 50 percent over the last three years and expected full year 2026 revenues of $185 million. The acquisition is expected to close in the fourth quarter of 2026, subject to required regulatory approvals and satisfaction of other customary closing conditions.
The Wilson Sonsini team that advised Centerview Partners on the transaction includes Doug Schnell, Rich Mullen, Nikkisha Smith Howard, and Hayden Smith.
For more information, please see Motorola Solutions’ news release.
D-Fend’s field proven technology is trusted by government, public safety, and enterprise organizations, with thousands of deployments across more than 30 countries, with annual revenue growth of over 50 percent over the last three years and expected full year 2026 revenues of $185 million. The acquisition is expected to close in the fourth quarter of 2026, subject to required regulatory approvals and satisfaction of other customary closing conditions.
The Wilson Sonsini team that advised Centerview Partners on the transaction includes Doug Schnell, Rich Mullen, Nikkisha Smith Howard, and Hayden Smith.
For more information, please see Motorola Solutions’ news release.
Alerts
4.21.26
SEC Permits Accelerated Offering Period for Certain Tender Offers
On April 16, 2026, the Division of Corporation Finance (the Division) of the Securities and Exchange Commission, acting under delegated authority, issued an Exemptive Order (the Order) providing flexibility to shorten the minimum offering period for certain types of equity tender offers from 20 business days to 10 business days. The Order is intended to reflect technological advancements and address market inefficiencies in eligible transactions. The shortened offering period has the potential to compress sign-to-close timelines for well-organized friendly deals, and to accelerate the closing of some self-tender offers by public and private companies.
Client Highlights
4.06.26
Wilson Sonsini Advises Soleno Therapeutics on $2.9 Billion Acquisition by Neurocrine
On April 6, 2026, Neurocrine Biosciences and Soleno Therapeutics announced that Neurocrine has entered into a definitive agreement to acquire Soleno for $53.00 per share in cash, representing a total transaction equity value of $2.9 billion. Wilson Sonsini Goodrich & Rosati is advising Soleno on the transaction.
Client Highlights
3.13.26
Firm Advises BlackLine on Agreement with Engaged Capital
On March 10, 2026, BlackLine announced that it entered into a cooperation agreement with Engaged Capital. Under this agreement, BlackLine appointed Storm Duncan and Megan Prichard to its board of directors, and Engaged Capital agreed to various restrictions on its activities at BlackLine. Wilson Sonsini Goodrich & Rosati advised BlackLine on the cooperation agreement.