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6.01.26
Firm Advises Edgewise Therapeutics on Its Sale of Sevasemten for up to $2.65 Billion
On June 1, 2026, Edgewise Therapeutics, a leading muscle disease biopharmaceutical company, announced that it has entered into a definitive agreement under which Servier, an independent international pharmaceutical group governed by a foundation, will acquire sevasemten, an orally administered fast skeletal myosin inhibitor in late-stage clinical trials in Becker and Duchenne muscular dystrophies, and Edgewise's muscular dystrophy business for $1.55 billion in upfront cash consideration and up to $1.1 billion in additional milestone payments, for aggregate potential consideration of up to $2.65 billion. The transaction strengthens Edgewise’s balance sheet, providing enhanced financial flexibility and sharpening the company’s strategic focus to accelerate and unlock the full potential of its cardiovascular pipeline. Wilson Sonsini Goodrich & Rosati advised Edgewise on the transaction.
Client Advisories
5.07.26
North Korea-Linked Schemes to Obtain Employment in U.S. Tech Companies: What You Need to Know and How to Respond
During the past few years, operatives associated with the Democratic People’s Republic of Korea (North Korea or the DPRK) have reportedly infiltrated hundreds of U.S. companies by fraudulently posing as legitimate remote IT workers. The perpetrators, together with accomplices across multiple jurisdictions (including inside the U.S.), funnel wages back to North Korea in violation of economic sanctions, and in many cases steal company data, source code, and trade secrets. In a smaller subset of cases, after being discovered and terminated, perpetrators have released, or threatened to release, sensitive company data and attempted to extort ransom payments.
Alerts
4.10.26
Washington State’s Expansive New Non-Compete Ban
On March 23, 2026, Washington State Governor Bob Ferguson signed into law Engrossed Substitute House Bill 1155 (HB 1155), which effectively bans non-compete agreements for all employees and independent contractors in the state. Previously, in 2019 and 2024, Washington prohibited non-compete agreements for lower wage earners and included other requirements for such restrictions.
Client Highlights
2.05.26
Wilson Sonsini Advises Zscaler on Acquisition of SquareX
On February 05, 2026, Zscaler, a leader in cloud security, announced it has acquired SquareX, to further extend Zero Trust capabilities into the browser for the AI era. This acquisition will help redefine browser security, allowing organizations to embed lightweight extensions into any browser, providing increased security, and eliminating the need for third-party browsers. The acquisition closed on February 5, 2026. Terms of the transaction have not been disclosed. Wilson Sonsini Goodrich & Rosati advised Zscaler on the transaction.
Client Highlights
1.23.26
Wilson Sonsini Advises Brex on $5.15 Billion Acquisition by Capital One
On January 22, 2026, Capital One announced that it has entered into a definitive agreement to acquire Brex, in a combination of stock and cash transaction valued at $5.15 billion. Brex is a modern, AI-native software platform offering intelligent finance solutions that make it easy for businesses to issue corporate cards, automate expense management, and make secure, real-time payments. The transaction is expected to close in the middle of 2026, subject to customary closing conditions. Wilson Sonsini Goodrich & Rosati advised Brex on the transaction.
Alerts
11.24.25
Federal Court Doesn’t “Like” FTC Claim That Meta Is a Monopolist
The Federal Trade Commission (FTC) has lost its long-running suit contending that Meta Platforms monopolized a “personal social networking” (PSN) market by acquiring Instagram and WhatsApp, two acquisitions that the FTC had previously reviewed and declined to challenge. Judge James Boasberg of the Federal District Court for the District of Columbia held first, as a matter of law, that the relevant question was whether Meta has market power now, rather than when the suit was filed five years ago. Second, the court found that the FTC had failed to prove its relevant market (which the FTC alleged was essentially limited to Facebook, Instagram, and Snapchat) and that, when competitors such as TikTok and YouTube were included, Meta lacked monopoly power.
Client Highlights
2.13.25
Wilson Sonsini Advises Intevac on Acquisition by Seagate
On February 13, 2025, Seagate Technology Holdings plc, a leading innovator of mass-capacity data storage, and Intevac, Inc., a supplier of thin-film processing systems, announced that Seagate has entered into a definitive agreement to acquire Intevac in an all-cash transaction for $4.00 per share. Wilson Sonsini Goodrich & Rosati has represented Intevac for decades and advised the company in connection with this acquisition.
In connection with the closing of the transaction, Intevac will pay a one-time special dividend of $0.052 per share. Separately, Intevac’s board of directors has declared a regular quarterly dividend of $0.05 per share, which will be paid on March 13, 2025, to Intevac stockholders of record as of February 28, 2025. The transaction and the special dividend deliver aggregate consideration to Intevac stockholders of $4.052 per share, or $4.102 per share including Intevac’s regular quarterly dividend. This represents a premium of 45 percent to Intevac’s closing price of $2.83 per share on December 11, 2024, one day prior to Intevac’s announcement that it had renewed its focus on pursuing strategic options; a premium of approximately 21 percent to Intevac’s closing price of $3.38 per share on February 12, 2025; and an aggregate value of approximately $119 million, including both dividends.
In connection with the closing of the transaction, Intevac will pay a one-time special dividend of $0.052 per share. Separately, Intevac’s board of directors has declared a regular quarterly dividend of $0.05 per share, which will be paid on March 13, 2025, to Intevac stockholders of record as of February 28, 2025. The transaction and the special dividend deliver aggregate consideration to Intevac stockholders of $4.052 per share, or $4.102 per share including Intevac’s regular quarterly dividend. This represents a premium of 45 percent to Intevac’s closing price of $2.83 per share on December 11, 2024, one day prior to Intevac’s announcement that it had renewed its focus on pursuing strategic options; a premium of approximately 21 percent to Intevac’s closing price of $3.38 per share on February 12, 2025; and an aggregate value of approximately $119 million, including both dividends.
Alerts
1.24.25
2025 Year in Preview: Pending Decisions at the U.S. Antitrust Agencies
President Trump has chosen Gail Slater to lead the U.S. Department of Justice (DOJ) Antitrust Division and elevated Commissioner Andrew Ferguson to chair the U.S. Federal Trade Commission (FTC). In this second installment of the Wilson Sonsini Antitrust and Competition practice 2025 Year in Preview four-part series, we review the DOJ and FTC litigations, investigations, and policy decisions they will inherit, focusing on matters where we think a change in direction is most likely. In an appendix, we include all publicly known agency decisions that are pending as of Inauguration Day.
Alerts
1.09.25
Gun-Jumping Violation Results in Record-Breaking Penalties
The Federal Trade Commission (FTC) has imposed a record-breaking $5.6 million fine on XCL Resource Holdings, LLC (XCL), Verdun Oil Company II LLC (Verdun), and EP Energy LLC (EP) to settle allegations that they engaged in unlawful gun-jumping in violation of the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act). The enforcement action, which was filed in federal court by the U.S. Department of Justice (DOJ) on January 7, 2025, is a strong reminder that merging parties must continue to operate as independent companies until the HSR waiting period has expired.
Alerts
11.21.24
In Case You Missed It: The ABA Antitrust Section's Fall Forum
On November 14, 2024, the American Bar Association (ABA) held its annual Antitrust Fall Forum in Washington, D.C., co-chaired this year by Wilson Sonsini partner Taylor M. Owings. The Forum was a chance for the antitrust bar to react to the U.S. election results and the likely landscape for antitrust in the next four years.