Cravath’s New York Office Moves to Two Manhattan West
October 25, 2021
On October 21, 2021, Cravath partner David J. Kappos spoke at “LeadershIP Fireside Chat,” a program held virtually by Competition Policy International. Entitled “Promoting Competition: The IP & Antitrust Crossroads,” Dave’s session discussed the executive order signed on July 9, 2021 regarding initiatives to address competition concerns in a number of industries, the issues and criticalities raised by this order and the implications that this might have on intellectual property and US companies.
Deals & Cases
October 20, 2021
On October 20, 2021, SPANX, Inc. (“SPANX”), the mission‑driven womenswear brand founded by Sara Blakely in 2000, announced a definitive agreement for a majority investment from funds managed by Blackstone, a leading global investment business. Blackstone has agreed to buy a majority stake in the company at a valuation of $1.2 billion, with Blakely maintaining a significant equity stake in the business. Blakely, along with SPANX’s existing senior management team, will continue to oversee daily operations, and at closing, Blakely will become the Executive Chairwoman. Cravath is representing SPANX in connection with the transaction.
Deals & Cases
September 29, 2021
Cravath represented the underwriters in connection with the $700 million registered notes offering of Howmet Aerospace Inc., a leading global provider of advanced engineered solutions for the aerospace and transportation industries. Cravath also represented the dealer managers in connection with Howmet Aerospace Inc.'s concurrent $600 million debt tender offer. The registered notes offering closed on September 1, 2021 and the debt tender offer was completed on September 15, 2021.
Deals & Cases
September 27, 2021
On September 27, 2021, Scientific Games Corporation (“Scientific Games”), a world leader in entertainment, announced that it has entered into a definitive agreement to sell its Sports Betting business, OpenBet, to Endeavor Group Holdings, Inc., a global sports and entertainment company, in a cash and stock transaction valued at approximately $1.2 billion. OpenBet is one of the world’s leading global online sports betting technology companies, offering an ecosystem of sports content, technology and services to the largest operators around the world. Cravath is representing Scientific Games in connection with the transaction.
Deals & Cases
September 15, 2021
On September 15, 2021, GreenSky, Inc. (“GreenSky”) and The Goldman Sachs Group, Inc. (“Goldman Sachs”) announced that they have entered into a definitive agreement pursuant to which Goldman Sachs will acquire GreenSky, the largest fintech platform for home improvement consumer loan originations, in an all‑stock transaction valued at approximately $2.24 billion. Cravath is representing GreenSky in connection with the transaction.
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