May 10, 2022
Cravath partner David J. Kappos authored an article entitled “Washington’s Obsession With Who’s ‘Winning’ in 5G Misses the Point,” which was published to the website of Bloomberg Law on May 3, 2022. Dave reviews a recent report published by the U.S. Patent and Trademark Office, agreeing with its conclusion that there is no clear leader in 5G development, and proposes that policymakers should focus on finding ways to incentivize 5G innovators, including through strengthening the patent system.
Deals & Cases
May 09, 2022
On May 9, 2022, White Mountains Insurance Group, Ltd. (“White Mountains”), a financial services holding company, announced that it has signed a definitive agreement to sell NSM Insurance Group (“NSM”), a full‑service MGA and program administrator for specialty property and casualty insurance, to investment funds affiliated with global investment firm Carlyle. The transaction values NSM at $1.775 billion. Cravath is representing White Mountains and NSM in connection with the transaction.
Deals & Cases
May 03, 2022
On May 3, 2022, LexisNexis® Risk Solutions, part of RELX, a global provider of information‑based analytics and decision tools for professional and business customers, announced the acquisition of BehavioSec®, an advanced behavioral biometrics technology provider. Solutions from BehavioSec will become a part of the Business Services group within LexisNexis® Risk Solutions. Cravath is representing RELX in connection with the transaction.
Deals & Cases
April 26, 2022
On April 26, 2022, Artel, a global leader in low volume liquid delivery measurement and quality assurance used throughout the life science industry, and Advanced Instruments, a leading manufacturer of analytical instruments and services for the clinical, biopharmaceutical and food & beverage sectors, announced the execution of a definitive agreement for Advanced Instruments to acquire Artel. Cravath is representing Artel in connection with the transaction.
Deals & Cases
February 28, 2022
On February 28, 2022, Viatris Inc. (“Viatris”) announced that it reached a definitive agreement with Biocon Biologics Limited (“Biocon Biologics”) to contribute its biosimilars portfolio to Biocon Biologics, which will become a uniquely positioned, vertically integrated company expected to be a global biosimilars leader. Under the terms of the agreement, Viatris will contribute to Biocon Biologics its biosimilars portfolio and related commercial and operational capabilities, amounting to 2022 estimated revenue of approximately $875 million and 2022 estimated adjusted EBITDA of approximately $200 million, in exchange for pre-tax consideration of up to $3.335 billion, which represents a transaction multiple of 16.5x of estimated 2022 biosimilars adjusted EBITDA. Cravath is representing Viatris in connection with the transaction.
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