Cravath’s New York Office Moves to Two Manhattan West
March 30, 2017
On March 30, 2017, Stage Stores, Inc. announced that its subsidiary has prevailed in its bid to acquire select assets of Gordmans Stores, Inc. through a bankruptcy auction. Under the terms of the transaction, the Stage subsidiary will, subject to exceptions in the purchase agreement, acquire a minimum of 50 Gordmans store leases, with rights to assume leases for an additional seven stores and a distribution center; all of Gordmans’ inventory, furniture, fixtures, equipment and other assets at the 57 store locations; and the trademarks and other intellectual property of Gordmans. Cravath is representing Stage in connection with the transaction.
Stage intends to fund the transaction and related investments from existing cash and availability under its credit facility. The transaction is expected to close during Stage’s first quarter of fiscal 2017, subject to the approval of the court administering the Gordmans bankruptcy and customary closing conditions. Substantially all of the remaining assets at Gordmans’ remaining 48 stores and other facilities are expected to be liquidated by Tiger Capital Group, LLC and Great American Group, LLC pursuant to their joint bid with Stage.
The Cravath team includes partner David J. Perkins and associate Amber Lam on M&A matters; partner Paul H. Zumbro and associate Matthew M. Kelly on financial restructuring and reorganization matters; partner Lauren Angelilli and associate Andrew T. Davis on tax matters; partner Eric W. Hilfers, practice area attorney Romica Singh and associate Sally Ye on executive compensation and benefits matters; partner David J. Kappos and senior attorney Margot A. Wagner on intellectual property matters; practice area attorney Brian M. Budnick on real estate matters; and senior attorney Jesse M. Weiss on antitrust matters. Additionally, Ethan Kim worked on M&A matters and Dean M. Nickles worked on financial restructuring and reorganization matters.
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.
Deals & Cases
January 31, 2024
On January 31, 2024, Health Care Service Corporation (“HCSC”), the country’s largest customer‑owned health insurer, announced that it has signed a definitive agreement with The Cigna Group (“Cigna”) to acquire its Medicare Advantage, Medicare Supplemental Benefits, Medicare Part D and CareAllies businesses for a purchase price of $3.3 billion. Cigna’s Medicare plans currently serve 3.6 million Medicare members. Cravath is representing HCSC in connection with the transaction.
Deals & Cases
December 12, 2023
On December 11, 2023, HMS Networks AB (“HMS”), a global provider of industrial information and communication technology, announced it has entered into a binding agreement with Spectris Group Holdings Limited to acquire the Red Lion Controls business, a U.S.-based provider of industrial automation solutions, through the acquisition of 100 percent of the shares in Red Lion Controls Inc. and Red Lion Europe GmbH as well as certain assets in other jurisdictions, for a cash consideration of $345 million. Cravath is representing HMS as special U.S. counsel in connection with the transaction.
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