Cravath’s New York Office Moves to Two Manhattan West
On August 8, 2022, Global Blood Therapeutics, Inc. (“GBT”), a biopharmaceutical company dedicated to the discovery, development and delivery of life‑changing treatments that provide hope to underserved patient communities, starting with sickle cell disease, and Pfizer Inc. (“Pfizer”) announced that the companies have entered into a definitive agreement under which Pfizer will acquire GBT. Under the terms of the transaction, Pfizer will acquire all the outstanding shares of GBT for $68.50 per share in cash, for a total enterprise value of approximately $5.4 billion, including debt and net of cash acquired. Cravath is representing GBT in connection with the transaction.
The Cravath team is led by partners Faiza J. Saeed, Ting S. Chen and Bethany A. Pfalzgraf and includes associates Cole DuMond, Jarrod L. Hall and Brianna Pang Sawhney on M&A matters; partner Eric W. Hilfers and associates Christopher C. Gonnella and Cortez Johnson on executive compensation and benefits matters; foreign associate attorney Stijn de Jong on regulatory matters; partner Lauren Angelilli and associate Carlos Nicholas Obando on tax matters; and partner David J. Kappos and practice area attorney Anthony N. Magistrale on intellectual property matters.
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.
Deals & Cases
January 22, 2025
On January 22, 2025, CardWorks, Inc. (“CardWorks”), a leader in credit and payments, and Ally Financial Inc. (“Ally”), a financial services company with the nation’s largest all‑digital bank and an industry‑leading auto financing business, announced that they have entered into a definitive agreement for CardWorks, and its wholly‑owned bank subsidiary, Merrick Bank, to acquire Ally’s credit card business, including a portfolio of $2.3 billion in credit card receivables with 1.3 million active cardholders as of December 31, 2024. Cravath is representing CardWorks in connection with the transaction.
Deals & Cases
January 13, 2025
On January 13, 2025, Johnson & Johnson and Intra‑Cellular Therapies, Inc. announced that they have entered into a definitive agreement under which Johnson & Johnson will acquire all outstanding shares of Intra‑Cellular Therapies, a biopharmaceutical company focused on the development and commercialization of therapeutics for central nervous system (CNS) disorders, for $132 per share in cash for a total equity value of approximately $14.6 billion. Cravath is representing Johnson & Johnson in connection with the transaction.
Deals & Cases
October 04, 2024
On October 3, 2024, DRI Healthcare Trust, a global leader in providing financing to advance innovation in the life sciences industry, announced that one of its wholly owned subsidiaries acquired a portion of Editas Medicine, Inc.'s payment rights under a non‑exclusive license of Editas' Cas9 gene‑editing technology for CASGEVY®, the only approved gene‑edited cell therapy for sickle cell disease and transfusion‑dependent beta thalassemia, for an upfront purchase price of $57 million. The transaction entitles DRI Healthcare to specific payments based on a sublicensing agreement between Editas and Vertex Pharmaceuticals Incorporated. The payments include a share of the annual license fees that Vertex pays to Editas, which can range from $5 million to $40 million, including certain sales‑based annual license fee increases, and a portion of a $50 million contingent payment to which Editas is eligible under the Vertex sublicensing agreement. Cravath is representing DRI Healthcare in connection with the transaction.
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