Cravath’s New York Office Moves to Two Manhattan West
On June 28, 2021, New Senior Investment Group Inc. (“New Senior”) and Ventas, Inc. (“Ventas”) announced that they have entered into a definitive merger agreement pursuant to which Ventas will acquire New Senior in an all‑stock transaction valued at approximately $2.3 billion, including $1.5 billion of New Senior debt. Cravath is representing New Senior in connection with the transaction.
The Cravath team is led by partner Ting S. Chen and includes associates William F. Roegge, Evan S. Gabor and Armin Hoss on M&A matters; partner Eric W. Hilfers and practice area attorney Arian Mossanenzadeh on executive compensation and benefits matters; partner Christopher K. Fargo and senior attorney Kiran Sheffrin on tax matters; partner David J. Kappos and associate Pedraam Mirzanian on intellectual property matters; practice area attorneys Brian M. Budnick and Laurel R. Berkowitz on real estate matters; and senior attorney Annmarie M. Terraciano on environmental matters. Summer associate T. Henley Hopkinson also worked on M&A matters.
Deals & Cases
October 04, 2024
On October 3, 2024, DRI Healthcare Trust, a global leader in providing financing to advance innovation in the life sciences industry, announced that one of its wholly owned subsidiaries acquired a portion of Editas Medicine, Inc.'s payment rights under a non‑exclusive license of Editas' Cas9 gene‑editing technology for CASGEVY®, the only approved gene‑edited cell therapy for sickle cell disease and transfusion‑dependent beta thalassemia, for an upfront purchase price of $57 million. The transaction entitles DRI Healthcare to specific payments based on a sublicensing agreement between Editas and Vertex Pharmaceuticals Incorporated. The payments include a share of the annual license fees that Vertex pays to Editas, which can range from $5 million to $40 million, including certain sales‑based annual license fee increases, and a portion of a $50 million contingent payment to which Editas is eligible under the Vertex sublicensing agreement. Cravath is representing DRI Healthcare in connection with the transaction.
Deals & Cases
September 05, 2024
On September 5, 2024, Verizon Communications Inc. and Frontier Communications Parent, Inc. (“Frontier”), the largest pure‑play fiber provider in the U.S., announced they have entered into a definitive agreement for Verizon to acquire Frontier in an all‑cash transaction valued at $20 billion. Cravath is representing Frontier in connection with the transaction.
Deals & Cases
May 07, 2024
On May 7, 2024, Ashland Inc. (“Ashland”), a global additives and specialty ingredients company, announced that it has signed a definitive agreement to sell its nutraceuticals business to Turnspire Capital Partners LLC. Cravath is representing Ashland in connection with the transaction.
Deals & Cases
April 02, 2024
On April 2, 2024, Endeavor Group Holdings, Inc. (“Endeavor”), a global sports and entertainment company, announced that it has entered into a definitive agreement to be acquired by Silver Lake, the global leader in technology investing, in partnership with the Endeavor management team and additional anchor investors. Cravath is representing the independent Special Committee of Endeavor’s board of directors in connection with the transaction.
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