Cravath’s New York Office Moves to Two Manhattan West
June 16, 2022
On June 14, 2022, Cravath partner Ting S. Chen participated in the International Bar Association’s 19th Annual International Mergers & Acquisitions Conference, which was held from June 14‑15, 2022 in New York. Ting moderated a panel entitled “Global M&A Hot Topics,” which reviewed the current global regulatory environment and evolving M&A trends related to shareholder activism and ESG.
Deals & Cases
October 20, 2021
On October 20, 2021, SPANX, Inc. (“SPANX”), the mission‑driven womenswear brand founded by Sara Blakely in 2000, announced a definitive agreement for a majority investment from funds managed by Blackstone, a leading global investment business. Blackstone has agreed to buy a majority stake in the company at a valuation of $1.2 billion, with Blakely maintaining a significant equity stake in the business. Blakely, along with SPANX’s existing senior management team, will continue to oversee daily operations, and at closing, Blakely will become the Executive Chairwoman. Cravath is representing SPANX in connection with the transaction.
Deals & Cases
June 28, 2021
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.
Deals & Cases
April 15, 2021
On April 15, 2021, Thermo Fisher Scientific Inc. (“Thermo Fisher”), a leader in serving science, and PPD, Inc. (“PPD”), a leading provider of clinical research services to the pharma and biotech industry, announced that their boards of directors have approved a definitive agreement under which Thermo Fisher will acquire PPD for $47.50 per share for a total cash purchase price of $17.4 billion plus the assumption of approximately $3.5 billion of net debt. Cravath is representing Thermo Fisher in connection with the transaction.
Deals & Cases
September 21, 2020
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.
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