Cravath’s New York Office Moves to Two Manhattan West
On March 30, 2023, The Deal named Cravath partner Bethany A. Pfalzgraf among the “2023 Top Women in Dealmaking.” The honorees, which are nominated by their peers and The Deal’s researchers, are attorneys who have “displayed excellence in their respective legal fields including mergers and acquisitions (M&A), private equity, restructuring and activist investing.” Eligible lawyers must “have shown the ability to navigate complex transactions over the past 12 months while maintaining strong client relationships, and leading in and out of the boardroom.”
Deals & Cases
March 09, 2023
On March 8, 2023, Airspan Networks Holdings (“Airspan”), a provider of software and hardware for 5G networks and a pioneer in end‑to‑end Open RAN solutions that provide interoperability with other vendors, announced the signing of definitive agreements for the sale of Mimosa Networks, Inc. (“Mimosa”) to Radisys Corporation (“Radisys”), a wholly owned subsidiary of Jio Platforms Limited, which is a subsidiary of Reliance Industries Limited, on a debt free, cash free basis. Cravath is representing Airspan in connection with the transaction.
Deals & Cases
September 06, 2022
On September 6, 2022, Texas Capital Bancshares, Inc. (“Texas Capital”) announced it has entered into a definitive agreement to sell BankDirect Capital Finance, LLC (“BankDirect”), its insurance premium finance subsidiary, to AFCO Credit Corporation (“AFCO”), an indirect wholly‑owned subsidiary of Truist Financial Corp. (“Truist”), in an all‑cash transaction for a purchase price of approximately $3.4 billion. This transaction represents the divestiture of the entire business unit including the equity interests of BankDirect and the associated loan balances held by Texas Capital Bank and no parent funding, deposits or capital will be transferred. Cravath is representing Texas Capital in connection with the transaction.
Deals & Cases
August 08, 2022
On August 8, 2022, Global Blood Therapeutics, Inc. (“GBT”), a biopharmaceutical company dedicated to the discovery, development and delivery of life‑changing treatments that provide hope to underserved patient communities, starting with sickle cell disease, and Pfizer Inc. (“Pfizer”) announced that the companies have entered into a definitive agreement under which Pfizer will acquire GBT. Under the terms of the transaction, Pfizer will acquire all the outstanding shares of GBT for $68.50 per share in cash, for a total enterprise value of approximately $5.4 billion, including debt and net of cash acquired. Cravath is representing GBT in connection with the transaction.
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