Faiza Saeed Speaks at The Paley Center for Media’s 2020 International Council Summit

On September 21, 2020, Illumina, Inc. (“Illumina”) and GRAIL announced they have entered into a definitive agreement under which Illumina will acquire GRAIL for cash and stock consideration of $8 billion. In addition, GRAIL shareholders will receive future payments representing a tiered single digit percentage of certain GRAIL-related revenues. GRAIL, a healthcare company focused on multi-cancer early detection, was founded by Illumina, a global leader in DNA sequencing and array-based technologies, in 2016 and spun out as a standalone company. Cravath is representing Illumina in connection with the transaction.

On March 25, 2020, Occidental Petroleum Corporation (“Occidental”) announced it has entered into an agreement with Carl C. Icahn and affiliated entities (the “Icahn Group”) to add three new Icahn‑designated directors to Occidental’s Board, effective immediately, and to create an Oversight Committee that will include two of the Icahn directors. Occidental has also adopted certain corporate governance-enhancing amendments to its amended and restated by‑laws, effective immediately, and agreed to recommend that the Occidental stockholders adopt amendments to Occidental’s restated certificate of incorporation at the 2020 Annual Meeting that enhance stockholder rights to act by written consent, call special meetings and nominate directors. The Icahn Group has withdrawn its slate of director nominees and stockholder proposals at the 2020 Annual Meeting and agreed to vote in favor of the Board’s director nominees and amendments to Occidental’s restated certificate of incorporation that enhance Occidental’s corporate governance. Under the agreement, the Icahn Group will petition the Delaware Supreme Court to withdraw its pending appeal before the Court relating to the Icahn Group’s books and records request under Section 220 of the Delaware General Corporation Law. The Icahn Group has also agreed to certain other customary voting and standstill provisions. Cravath is representing Occidental in connection with the agreement.

On November 25, 2019, The Charles Schwab Corporation (“Schwab”) and TD Ameritrade Holding Corporation (“TD Ameritrade”) announced that they have entered into a definitive agreement for Schwab to acquire TD Ameritrade in an all‑stock transaction valued at approximately $26 billion. Cravath is representing the Ricketts family in connection with the transaction.

On August 29, 2019, The Walt Disney Company (“Disney”) announced that it has sold its equity interest in the YES Network to a newly formed investor group that includes Yankee Global Enterprises (the “Yankees”) and Sinclair Broadcast Group (“Sinclair”), among others. The group acquired the 80 percent of the YES Network not already held by the Yankees at a total enterprise value of $3.47 billion. Cravath represented Disney in connection with the transaction.