M & A

The Delaware Court of Chancery dismissed all claims by Gary Turner against Lam Research Corporation on March 20, 2026, barring his assertion to 2,375 shares of common stock worth approximately $25 million after stock splits. The court applied the doctrine of laches, finding that Turner unreasonably delayed enforcing his ownership rights for over three decades. The delay, the court determined, prejudiced the defendant by creating evidentiary decay and making corporate actions difficult to reconstruct.

The "Tech, Media & Telecom Roundup: Market Talk" on April 9, 2026, summarizes recent developments in the sector, including Meta's AI content licensing deals, massive AI infrastructure investments by Amazon and Meta, ongoing tech layoffs, telecom 5G progress, and market shifts like Berkshire Hathaway reducing its Amazon stake.[1][2][6][7]

Walmart is aggressively pursuing Amazon's affluent customer base through Walmart+, its membership program priced at $98 annually versus Prime's $139. The service bundles faster grocery delivery, discounted premium brands like Rao's sauce and Topo Chico, and free Peacock streaming. E-commerce now represents 18% of Walmart's revenue, with sales exceeding $100 billion last fiscal year and growing 20% in Q4—four times the pace of overall sales. Walmart+ membership has reached approximately 30 million U.S. subscribers, up 29% recently, while Amazon Prime holds 201 million subscribers with only 3% growth. About 25% of Americans now subscribe to both services.

EssilorLuxottica reported first-quarter 2026 revenue of €7.127 billion, a 10.8% increase at constant exchange rates and the company's third consecutive double-digit quarter. Growth was driven by AI-enabled Ray-Ban and Oakley smart glasses, North American sales up 12.5%, and EMEA up 9.5%. The stock fell approximately 5% on the Paris CAC 40, making it the index's largest loser. The decline reflects investor concern that growth has decelerated from 18% in late 2025 and that smart glasses—which sold 7 million pairs in 2025 compared to 2 million combined in 2023-2024—are now contributing only mid-single-digit percentage points to overall revenue growth.

Simpson Thacher & Bartlett LLP has hired a former Kirkland & Ellis partner to lead banking and finance matters within its newly formed capital structure solutions practice in San Francisco. The move, announced April 22, represents the latest in a series of lateral recruits from Kirkland to staff the specialized group. David Nemecek, a distressed companies specialist, heads the practice after joining from Kirkland in early 2026. At least two additional Kirkland partners have joined since March 2026.

Apple announced Monday that John Ternus, senior vice president of hardware engineering, will become CEO on September 1, 2026, replacing Tim Cook. Cook, who has led the company for 15 years and increased its market value by $3.6 trillion, will transition to executive chairman. Ternus, a 25-year Apple veteran who joined in 2001, has spent his career in hardware engineering and most recently designed external displays and other hardware products.