On September 5, 2024, Verizon Communications Inc. and Frontier Communications Parent, Inc. (“Frontier”), the largest pure‑play fiber provider in the U.S., announced they have entered into a definitive agreement for Verizon to acquire Frontier in an all‑cash transaction valued at $20 billion. Cravath is representing Frontier in connection with the transaction.
The Cravath team is led by partners Robert I. Townsend III, George F. Schoen and Matthew G. Jones and includes associates Edward O. Minturn, Maria Ricaurte, Harold C. King, Elisabeth Lopez, Nigle B. Barrow III, T. Henley Hopkinson and Priya Patel on M&A matters; partners Joseph D. Zavaglia and Stephen M. Kessing and associate Kathryn Kennedy Bleday on financing matters; partner J. Leonard Teti II and associates Carlos Nicholas Obando, Christopher M. Winters and Michael Pelle on tax matters; partner Amanda Hines Gold and associate Nicholas J. Celli on executive compensation and benefits matters; partner Sasha Rosenthal‑Larrea, of counsel Kathryn‑Ann Stamm and associates Joanne Dynak and Leslie Liu on intellectual property matters; partners Noah Joshua Phillips and Jesse M. Weiss, of counsel Michael B. Singer and associate Lavinia M. Borzi on antitrust matters; partner Matthew Morreale and associate Star S. Gulant on environmental matters; partner Benjamin G. Joseloff on regulatory matters; and senior attorney Joyce Law and practice area attorney Brian M. Budnick on real estate matters. Oscar Porter also worked on executive compensation and benefits matters.
Deals & Cases
March 18, 2025
On March 18, 2025, Wiz, Inc. (“Wiz”), a leading cloud security platform headquartered in New York, and Google LLC (“Google”) announced they have signed a definitive agreement for Google to acquire Wiz for $32 billion, subject to closing adjustments, in an all‑cash transaction. Once closed, Wiz will join Google Cloud. Cravath is representing Wiz as regulatory counsel in connection with the transaction.
Deals & Cases
March 17, 2025
On March 17, 2025, PepsiCo, Inc. (“PepsiCo”) announced that it has entered into a definitive agreement to acquire poppi, a prebiotic soda brand, for $1.95 billion, including $300 million of anticipated cash tax benefits for a net purchase price of $1.65 billion. The transaction also includes an additional potential earnout consideration subject to the achievement of certain performance milestones within a specified period after closing of the transaction. Cravath is representing PepsiCo in connection with the transaction.
Deals & Cases
February 24, 2025
On February 24, 2025, Bridge Investment Group Holdings Inc. (“Bridge”), a leading alternative investment manager diversified across specialized asset classes, and Apollo Global Management, Inc. (“Apollo”) announced they have entered into a definitive agreement for Apollo to acquire Bridge in an all‑stock transaction with an equity value of approximately $1.5 billion. Under the terms of the transaction, Bridge stockholders and Bridge OpCo unitholders will receive 0.07081 shares of Apollo stock for each share of Bridge Class A common stock and each Bridge OpCo Class A common unit, respectively, valued by the parties at $11.50 per each share of Bridge Class A common stock and Bridge OpCo Class A common unit, respectively. Cravath is representing the special committee of the Bridge Board of Directors in connection with the transaction.
Deals & Cases
February 10, 2025
On February 10, 2025, FactSet, a global financial digital platform and enterprise solutions provider, announced the acquisition of LiquidityBook, a leading provider of cloud‑native buy- and sell‑side trading solutions, for a gross purchase price of $246.5 million in cash. Cravath is representing FactSet in connection with the transaction.
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