IBM’s Acquisition of Sterling Commerce
May 25, 2010
On May 24, 2010, IBM and AT&T announced they have entered into a definitive agreement for IBM to acquire Sterling Commerce, Inc., a provider of applications and B2B integration solutions, from AT&T for approximately $1.4 billion in cash. Cravath represented IBM in connection with this transaction. IBM and AT&T expect the transaction to close in the second half of 2010, subject to regulatory approvals and the satisfaction of other customary closing conditions.
The Cravath team includes partner Peter S. Wilson and associates Richard M. Brand, Matthew B. Fox and David L. Selinger on corporate matters; partner Elizabeth L. Grayer on antitrust matters; partner Andrew W. Needham and associates J. Leonard Teti II and Kathleen H. Withers on tax matters; associates Lori Diamond Goodman and Michael J. Schobel on executive compensation and benefits matters; and associate Matthew Morreale on environmental matters.
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People
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J.D., 1997, Columbia Law SchoolHarlan Fiske Stone Scholar
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M.S., 1994, University of Pennsylvania
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B.A., 1990, University of Pennsylvania
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B.A.S., 1990, University of Pennsylvania
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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
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J.D., 1979, Harvard Law Schoolcum laude
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B.Comm., 1976, McGill Universitywith Great Distinction
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M.B.A., 1992, The Wharton School of the University of Pennsylvania
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LL.M., 1990, Georgetown University Law Center
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J.D., 1986, Georgetown University Law Center
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B.A., 1982, University of Arizona College of Law
Education
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Bridge Investment Group’s $1.5 Billion Acquisition by Apollo
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.
