Scientific Games’ Sale of a 34.9% Stake to Institutional Investors, including Caledonia
September 14, 2020
On September 14, 2020, Scientific Games Corporation (“Scientific Games”) announced that a number of long‑term institutional investors, including gaming industry investor Caledonia, have reached agreement to acquire a 34.9% stake in Scientific Games from MacAndrews & Forbes Incorporated at a price of $28.00 per share. In connection with the transaction, Scientific Games is implementing a series of governance changes and enhancements to reflect its new investor base and continue to position the Company for growth and value creation. Cravath is representing Scientific Games and its Special Committee of the Board of Directors in connection with the transaction.
The Cravath team is led by partner Robert I. Townsend III and includes associates William D. Podurgiel, Arash Ardalan and Katherine R. Booth on M&A matters; partner J. Leonard Teti II and associate Peter W. Rogers on tax matters; partner Nicholas A. Dorsey and associate Aashim Usgaonkar on financing matters; and partner Eric W. Hilfers and associate Matthew J. Bobby on executive compensation and benefits matters.
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J.D., 1990, Harvard Law Schoolmagna cum laude
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A.B., 1987, Harvard Collegemagna cum laude
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J.D., 2005, University of Virginia School of LawOrder of the Coif
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A.B., 1999, Princeton Universitywith Honors
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J.D., 2009, Cornell Law SchoolOrder of the Coif, summa cum laude
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M.Acc., 2006, Case Western Reserve Universitysumma cum laude
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B.S., 2006, Case Western Reserve Universitysumma cum laude
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J.D., 1998, University of Chicago Law Schoolwith Honors
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A.B., 1995, Princeton University
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J.D., 2012, Harvard Law Schoolmagna cum laude
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M.A., 2009, University of Pennsylvania
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B.A., 2009, University of PennsylvaniaPhi Beta Kappa, summa cum laude
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J.D., 2011, The University of Texas School of Law
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B.A., 2004, University of Pennsylvaniacum laude
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