Arrangement of Financing for Acquisition of Lockheed Martin’s IT and Technical Services Businesses by Leidos
January 28, 2016
Cravath represented the lead arrangers, led by Citibank, N.A., in connection with the arrangement of committed debt financing for the acquisition of Lockheed Martin’s IT and Technical Services Businesses by Leidos in a $5 billion tax‑efficient Reverse Morris Trust transaction.
Upon closing of the transaction, Lockheed Martin shareholders will receive approximately 50.5% of Leidos shares on a fully diluted basis. The transaction is anticipated to close in the second half of 2016. Completion of the transaction is subject to customary closing conditions, including regulatory and Leidos shareholder approvals and receipt of opinions of tax counsel. Leidos is a science and technology solutions leader working to address some of the world’s toughest challenges in national security, health and engineering. Lockheed Martin is a global security and aerospace company that is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
The Cravath team was led by partner Joseph D. Zavaglia and included associates Ankur N. Patel, Daniel J. Cerqueira and Ashley Robson Mistretta on corporate matters; partner J. Leonard Teti II and associate Peter W. Rogers on tax matters; and senior attorney Annmarie M. Terraciano on environmental matters. Shakera M. Thompson also worked on corporate matters.
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People
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J.D., 2004, Brooklyn Law SchoolValedictorian, summa cum laude
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B.B.A., 2001, College of Insurancecum laude
- New York
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J.D., 2005, University of Virginia School of LawOrder of the Coif
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A.B., 1999, Princeton Universitywith Honors
- New York
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J.D., 1998, Columbia Law SchoolHarlan Fiske Stone Scholar
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M.S., 1994, University of Wisconsin - Madison
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B.A., 1989, Wellesley Collegecum laude
- New York
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