Cravath’s New York Office Moves to Two Manhattan West
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.
The Cravath team is led by partners Claudia J. Ricciardi and Alexander E. Greenberg and includes associates Chris Kim, Cierra Coury, Madison Burson and Debbie Park and foreign associate attorney Alberto Giavaldi on M&A matters; partners Andrew J. Pitts and C. Daniel Haaren and associates Kelsey L. Laabs and Nathaniel C. Pettit on capital markets matters; partner Stephen M. Kessing and associate Benjamin B. Deutsch on banking matters; partners Eric W. Hilfers and Jana I. Hymowitz, practice area attorney David Crampton and associates Oscar Porter and Matthew S. Johnson on executive compensation and benefits matters; partner Sasha Rosenthal-Larrea and associate Matthew L. Ybarra on intellectual property matters; partner Matthew Morreale, senior attorney Annmarie M. Terraciano and associate Star S. Gulant on environmental matters; partners Margaret T. Segall and Jesse M. Weiss and of counsel Michael B. Singer on antitrust matters; partners Michael P. Addis and Justin C. Clarke and associate Jacob Buell Seeley on litigation matters; and senior attorney Joyce Law and practice area attorney Brian M. Budnick on real estate matters. Victoria Fang also worked on litigation 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
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.
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.
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