Cravath’s New York Office Moves to Two Manhattan West
On December 15, 2021, Cravath partner Faiza J. Saeed participated in the Yale CEO Summit, which was hosted virtually by the Chief Executive Leadership Institute at the Yale School of Management, focusing on the theme of “2022’s Promise for Business: Achieving Social Harmony with Health and Prosperity.” The event brought together more than 100 CEOs and executive leaders from leading industries, including technology, transportation, finance, pharma, manufacturing, retail and professional services, as well as former public officials.
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
April 15, 2021
On April 15, 2021, Thermo Fisher Scientific Inc. (“Thermo Fisher”), a leader in serving science, and PPD, Inc. (“PPD”), a leading provider of clinical research services to the pharma and biotech industry, announced that their boards of directors have approved a definitive agreement under which Thermo Fisher will acquire PPD for $47.50 per share for a total cash purchase price of $17.4 billion plus the assumption of approximately $3.5 billion of net debt. Cravath is representing Thermo Fisher in connection with the transaction.
Deals & Cases
January 11, 2021
On January 8, 2021, Roku, Inc. announced that The Roku Channel will become the exclusive place to stream more than 75 premium shows and documentaries that Quibi, a streaming platform designed to deliver short‑form content, created in conjunction with Hollywood’s leading studios and production companies. Roku acquired the exclusive global distribution rights to Quibi’s award‑winning shows and will make the content available for free on an ad‑supported basis in 2021 to all Roku users. Following an internal restructuring by Quibi, Roku acquired Quibi Holdings, LLC, the company that holds all of Quibi’s content distribution rights. Cravath is representing Quibi in connection with the transaction.
Deals & Cases
December 09, 2020
On October 21, 2020, Quibi Holdings, LLC, a streaming platform designed to deliver short-form content, announced that it was winding up its business in order to preserve as much value as possible for its equity holders. As a result, the company will cease to carry on business except to the extent beneficial for the winding down thereof and to preserve the liquidation value of the company’s assets. Cravath is representing Quibi and its Board of Directors in connection with its out-of-court wind-down process.
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