Cravath’s New York Office Moves to Two Manhattan West
Benjamin G. Joseloff, a former White House and U.S. Treasury Department official, focuses his practice on advising U.S. and international clients on the regulatory aspects of cross‑border mergers, acquisitions, dispositions, investments and other business transactions. Mr. Joseloff is known in particular for his expertise on matters relating to the Committee on Foreign Investment in the United States (CFIUS).
Representative transactions include representing:
Mr. Joseloff served in the U.S. government for five years, holding senior legal and policy roles relating to national security and foreign investment. From 2017 to 2018, Mr. Joseloff served as Director for International Trade and Investment at the National Security Council (NSC) and the National Economic Council (NEC), where he coordinated White House efforts relating to the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), the most substantial update and expansion of CFIUS in 30 years. Most recently, Mr. Joseloff served as Senior Counsel and CFIUS Lead Counsel at the U.S. Department of the Treasury, where he led a team of attorneys that provided legal advice in connection with the Treasury Secretary’s role as Chairperson of CFIUS.
During his time at the White House and Treasury, Mr. Joseloff participated in the review and resolution of hundreds of CFIUS transactions, negotiated or supervised the negotiation of dozens of CFIUS mitigation agreements, drafted portions of the CFIUS regulations and coordinated numerous engagements with U.S. allies and partners on investment security matters. Mr. Joseloff is one of few practitioners to have served as both a CFIUS lawyer at the Treasury and a CFIUS policymaker at the White House, giving him deep, hands‑on experience with every facet of the CFIUS process, from conducting initial jurisdictional analyses to coordinating Presidential prohibitions. In recognition of his contributions, Mr. Joseloff earned a number of individual and team awards for his government service, including the National Security Council’s Outstanding Service Award, the Secretary of the Treasury’s Meritorious Service Award and the Secretary of the Treasury’s Honor Award.
Mr. Joseloff is a member of the American Bar Association, the International Bar Association and the American Society of International Law.
Mr. Joseloff has been named to the Lawdragon 500 X – The Next Generation list.
Mr. Joseloff was born in Tokyo, Japan. He received a B.A. summa cum laude from New York University in 2004, where he was elected to Phi Beta Kappa, and a J.D. with Pro Bono Distinction from Stanford Law School in 2008, where he was an Associate Managing Editor and Legislative Notes Editor of the Law and Policy Review and Co‑President of the International Law Society. Following his graduation, Mr. Joseloff served as a law clerk to Hon. Janet C. Hall of the U.S. District Court for the District of Connecticut. After his clerkship, he was a fellow at the American University of Afghanistan in Kabul, Afghanistan. Mr. Joseloff joined Cravath in 2010 as a corporate associate where he worked on securities offerings, syndicated loan transactions and mergers and acquisitions prior to leaving for government in 2014. Mr. Joseloff returned to the Firm in 2019 and was elected of counsel in 2022 and a partner in 2024.
Representative transactions include representing:
Mr. Joseloff served in the U.S. government for five years, holding senior legal and policy roles relating to national security and foreign investment. From 2017 to 2018, Mr. Joseloff served as Director for International Trade and Investment at the National Security Council (NSC) and the National Economic Council (NEC), where he coordinated White House efforts relating to the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), the most substantial update and expansion of CFIUS in 30 years. Most recently, Mr. Joseloff served as Senior Counsel and CFIUS Lead Counsel at the U.S. Department of the Treasury, where he led a team of attorneys that provided legal advice in connection with the Treasury Secretary’s role as Chairperson of CFIUS.
During his time at the White House and Treasury, Mr. Joseloff participated in the review and resolution of hundreds of CFIUS transactions, negotiated or supervised the negotiation of dozens of CFIUS mitigation agreements, drafted portions of the CFIUS regulations and coordinated numerous engagements with U.S. allies and partners on investment security matters. Mr. Joseloff is one of few practitioners to have served as both a CFIUS lawyer at the Treasury and a CFIUS policymaker at the White House, giving him deep, hands‑on experience with every facet of the CFIUS process, from conducting initial jurisdictional analyses to coordinating Presidential prohibitions. In recognition of his contributions, Mr. Joseloff earned a number of individual and team awards for his government service, including the National Security Council’s Outstanding Service Award, the Secretary of the Treasury’s Meritorious Service Award and the Secretary of the Treasury’s Honor Award.
Mr. Joseloff is a member of the American Bar Association, the International Bar Association and the American Society of International Law.
Mr. Joseloff has been named to the Lawdragon 500 X – The Next Generation list.
Mr. Joseloff was born in Tokyo, Japan. He received a B.A. summa cum laude from New York University in 2004, where he was elected to Phi Beta Kappa, and a J.D. with Pro Bono Distinction from Stanford Law School in 2008, where he was an Associate Managing Editor and Legislative Notes Editor of the Law and Policy Review and Co‑President of the International Law Society. Following his graduation, Mr. Joseloff served as a law clerk to Hon. Janet C. Hall of the U.S. District Court for the District of Connecticut. After his clerkship, he was a fellow at the American University of Afghanistan in Kabul, Afghanistan. Mr. Joseloff joined Cravath in 2010 as a corporate associate where he worked on securities offerings, syndicated loan transactions and mergers and acquisitions prior to leaving for government in 2014. Mr. Joseloff returned to the Firm in 2019 and was elected of counsel in 2022 and a partner in 2024.
American Bar Association
American Society of International Law
International Bar Association
Lawdragon
National Security Council’s Outstanding Service Award, 2017
Secretary of the Treasury’s Meritorious Service Award, 2020
Secretary of the Treasury’s Honor Award, 2020
Deals & Cases
July 08, 2024
On July 7, 2024, Paramount Global (“Paramount”), a leading global media, streaming and entertainment company, and Skydance Media (“Skydance”), a diversified media company founded to create high-quality, event-level entertainment for global audiences, announced that they have entered into a definitive agreement to form “New Paramount,” a next-generation media and technology leader, through a two-step transaction including the acquisition of National Amusements, Inc. (“NAI”), which holds the controlling share stake in Paramount, and subsequently a merger of Skydance and Paramount. Under the terms of the agreement, which has been approved by the Paramount Board of Directors, acting on the unanimous recommendation of the Special Committee of independent directors, and by NAI, Skydance will merge with Paramount in a transaction valuing New Paramount at an enterprise value of approximately $28 billion. Existing Skydance investors will receive 317 million newly issued Class B shares in New Paramount valuing Skydance at $4.75 billion based on $15 per Paramount Class B share. The Skydance Investor Group will invest up to $6 billion in offers to Class A and Class B stockholders, and use the additional capital to paydown debt and re-capitalize the balance sheet of New Paramount. NAI and its owners have entered into a definitive agreement to sell NAI to Skydance IG for $2.4 billion on a cash-free, debt-free basis. Cravath is representing the Paramount Special Committee in connection with the agreement.
Deals & Cases
May 28, 2024
On May 28, 2024, United States Cellular Corporation (“UScellular”) announced that it has entered into a definitive agreement to sell its wireless operations and select spectrum assets to T‑Mobile for a purchase price of $4.4 billion, including a combination of cash and up to approximately $2 billion of assumed debt. Under the terms of the agreement, T‑Mobile will acquire UScellular’s wireless operations and approximately 30% of its spectrum assets across several spectrum bands. In addition, T‑Mobile will enter into a new master license agreement with UScellular on more than 2,000 towers. The agreement follows a thorough strategic review process announced in August 2023 and has been unanimously recommended by the independent directors of UScellular and unanimously approved by the Board of Directors of UScellular. Cravath is representing the independent directors of UScellular 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 29, 2024
On January 29, 2024, Montana Technologies LLC (“Montana Technologies”) announced an agreement to form a joint venture with GE Vernova, a global leader in electrification, decarbonization, and energy solutions, to incorporate GE Vernova’s proprietary sorbent materials into systems that utilize Montana Technologies’ patented AirJoule® dehumidification, air conditioning, and atmospheric water harvesting technology. The joint venture will exclusively manufacture and supply products incorporating the combined technologies to leading original equipment manufacturers and customers in the Americas, Africa, and Australia. Cravath is representing Montana Technologies in connection with the transaction.
Deals & Cases
December 20, 2023
On December 20, 2023, Aon plc (“Aon”), a leading global professional services firm, announced the signing of a definitive agreement to acquire NFP, a leading middle‑market property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, from funds affiliated with NFP’s main capital sponsor, Madison Dearborn Partners, and funds affiliated with HPS Investment Partners. Under the terms of the transaction, Aon will acquire NFP for a total consideration estimated to be $13.4 billion at the time of close, which will be funded by $7 billion of cash and $6.4 billion of Aon stock. Cravath is representing Aon in connection with the transaction.
Firm News
June 28, 2024
Cravath has elected the following new partner, who will become a member of the Firm on July 1, 2024:
Activities & Publications
May 17, 2024
On May 17, 2024, Cravath of counsel Benjamin G. Joseloff participated in the International Bar Association’s 39th annual International Financial Law Conference, which was held from May 15‑17, 2024, in Dublin, Ireland. Ben spoke on a panel entitled “Proliferation of FDI Rules All Around the World,” which reviewed how the expansion of Foreign Direct Investment and national security screening regimes—with more mandatory filings, lower thresholds and harsher potential penalties—is impacting companies and dealmakers, as well as how deal terms are evolving in response to the changing regulatory environment.
Activities & Publications
April 29, 2024
On April 24, 2024, Cravath of counsel Benjamin G. Joseloff spoke at Stanford Law School in Palo Alto, California. Ben provided an invited guest lecture in the law school’s International Economic Law, Business & Policy Colloquium, in which advanced degree students explore selected issues, case studies and policy debates in international economic law and business, global political economy and international economic dispute resolution. Ben’s lecture, entitled “Understanding CFIUS,” explored current legal and policy issues relating to the Committee on Foreign Investment in the United States (CFIUS) and other tools of U.S. economic statecraft.
Activities & Publications
April 12, 2024
On April 11, 2024, Cravath of counsel Benjamin G. Joseloff participated in the 10th National Conference on CFIUS, which was hosted by the American Conference Institute from April 10-12, 2024 in Arlington, VA. Ben spoke on a panel entitled “Introduction to CFIUS: Your A-to-Z Guide to Filing Requirements, Timelines, Mitigation, Enforcement, Penalties and Beyond,” which reviewed the basic regulatory standard necessary for a Committee for Foreign Investment in the United States (“CFIUS”) filing, the national security reasons for CFIUS filings, the scrutiny given to filings and the processing timelines.
Activities & Publications
November 20, 2023
Cravath of counsel Benjamin G. Joseloff and partners George F. Schoen and G.J. Ligelis Jr. co‑authored the U.S. chapter for the International Comparative Legal Guide’s “Foreign Direct Investment Regimes 2024,” which was published by Global Legal Group on November 16, 2023. The chapter examines U.S. foreign investment review policy and the law, regulations and procedures of the Committee on Foreign Investment in the United States (CFIUS), including both jurisdictional and substantive considerations as well as recent developments.
Benjamin G. Joseloff, a former White House and U.S. Treasury Department official, focuses his practice on advising U.S. and international clients on the regulatory aspects of cross‑border mergers, acquisitions, dispositions, investments and other business transactions. Mr. Joseloff is known in particular for his expertise on matters relating to the Committee on Foreign Investment in the United States (CFIUS).
Representative transactions include representing:
Mr. Joseloff served in the U.S. government for five years, holding senior legal and policy roles relating to national security and foreign investment. From 2017 to 2018, Mr. Joseloff served as Director for International Trade and Investment at the National Security Council (NSC) and the National Economic Council (NEC), where he coordinated White House efforts relating to the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), the most substantial update and expansion of CFIUS in 30 years. Most recently, Mr. Joseloff served as Senior Counsel and CFIUS Lead Counsel at the U.S. Department of the Treasury, where he led a team of attorneys that provided legal advice in connection with the Treasury Secretary’s role as Chairperson of CFIUS.
During his time at the White House and Treasury, Mr. Joseloff participated in the review and resolution of hundreds of CFIUS transactions, negotiated or supervised the negotiation of dozens of CFIUS mitigation agreements, drafted portions of the CFIUS regulations and coordinated numerous engagements with U.S. allies and partners on investment security matters. Mr. Joseloff is one of few practitioners to have served as both a CFIUS lawyer at the Treasury and a CFIUS policymaker at the White House, giving him deep, hands‑on experience with every facet of the CFIUS process, from conducting initial jurisdictional analyses to coordinating Presidential prohibitions. In recognition of his contributions, Mr. Joseloff earned a number of individual and team awards for his government service, including the National Security Council’s Outstanding Service Award, the Secretary of the Treasury’s Meritorious Service Award and the Secretary of the Treasury’s Honor Award.
Mr. Joseloff is a member of the American Bar Association, the International Bar Association and the American Society of International Law.
Mr. Joseloff has been named to the Lawdragon 500 X – The Next Generation list.
Mr. Joseloff was born in Tokyo, Japan. He received a B.A. summa cum laude from New York University in 2004, where he was elected to Phi Beta Kappa, and a J.D. with Pro Bono Distinction from Stanford Law School in 2008, where he was an Associate Managing Editor and Legislative Notes Editor of the Law and Policy Review and Co‑President of the International Law Society. Following his graduation, Mr. Joseloff served as a law clerk to Hon. Janet C. Hall of the U.S. District Court for the District of Connecticut. After his clerkship, he was a fellow at the American University of Afghanistan in Kabul, Afghanistan. Mr. Joseloff joined Cravath in 2010 as a corporate associate where he worked on securities offerings, syndicated loan transactions and mergers and acquisitions prior to leaving for government in 2014. Mr. Joseloff returned to the Firm in 2019 and was elected of counsel in 2022 and a partner in 2024.
Representative transactions include representing:
Mr. Joseloff served in the U.S. government for five years, holding senior legal and policy roles relating to national security and foreign investment. From 2017 to 2018, Mr. Joseloff served as Director for International Trade and Investment at the National Security Council (NSC) and the National Economic Council (NEC), where he coordinated White House efforts relating to the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), the most substantial update and expansion of CFIUS in 30 years. Most recently, Mr. Joseloff served as Senior Counsel and CFIUS Lead Counsel at the U.S. Department of the Treasury, where he led a team of attorneys that provided legal advice in connection with the Treasury Secretary’s role as Chairperson of CFIUS.
During his time at the White House and Treasury, Mr. Joseloff participated in the review and resolution of hundreds of CFIUS transactions, negotiated or supervised the negotiation of dozens of CFIUS mitigation agreements, drafted portions of the CFIUS regulations and coordinated numerous engagements with U.S. allies and partners on investment security matters. Mr. Joseloff is one of few practitioners to have served as both a CFIUS lawyer at the Treasury and a CFIUS policymaker at the White House, giving him deep, hands‑on experience with every facet of the CFIUS process, from conducting initial jurisdictional analyses to coordinating Presidential prohibitions. In recognition of his contributions, Mr. Joseloff earned a number of individual and team awards for his government service, including the National Security Council’s Outstanding Service Award, the Secretary of the Treasury’s Meritorious Service Award and the Secretary of the Treasury’s Honor Award.
Mr. Joseloff is a member of the American Bar Association, the International Bar Association and the American Society of International Law.
Mr. Joseloff has been named to the Lawdragon 500 X – The Next Generation list.
Mr. Joseloff was born in Tokyo, Japan. He received a B.A. summa cum laude from New York University in 2004, where he was elected to Phi Beta Kappa, and a J.D. with Pro Bono Distinction from Stanford Law School in 2008, where he was an Associate Managing Editor and Legislative Notes Editor of the Law and Policy Review and Co‑President of the International Law Society. Following his graduation, Mr. Joseloff served as a law clerk to Hon. Janet C. Hall of the U.S. District Court for the District of Connecticut. After his clerkship, he was a fellow at the American University of Afghanistan in Kabul, Afghanistan. Mr. Joseloff joined Cravath in 2010 as a corporate associate where he worked on securities offerings, syndicated loan transactions and mergers and acquisitions prior to leaving for government in 2014. Mr. Joseloff returned to the Firm in 2019 and was elected of counsel in 2022 and a partner in 2024.
American Bar Association
American Society of International Law
International Bar Association
Lawdragon
National Security Council’s Outstanding Service Award, 2017
Secretary of the Treasury’s Meritorious Service Award, 2020
Secretary of the Treasury’s Honor Award, 2020
Deals & Cases
July 08, 2024
On July 7, 2024, Paramount Global (“Paramount”), a leading global media, streaming and entertainment company, and Skydance Media (“Skydance”), a diversified media company founded to create high-quality, event-level entertainment for global audiences, announced that they have entered into a definitive agreement to form “New Paramount,” a next-generation media and technology leader, through a two-step transaction including the acquisition of National Amusements, Inc. (“NAI”), which holds the controlling share stake in Paramount, and subsequently a merger of Skydance and Paramount. Under the terms of the agreement, which has been approved by the Paramount Board of Directors, acting on the unanimous recommendation of the Special Committee of independent directors, and by NAI, Skydance will merge with Paramount in a transaction valuing New Paramount at an enterprise value of approximately $28 billion. Existing Skydance investors will receive 317 million newly issued Class B shares in New Paramount valuing Skydance at $4.75 billion based on $15 per Paramount Class B share. The Skydance Investor Group will invest up to $6 billion in offers to Class A and Class B stockholders, and use the additional capital to paydown debt and re-capitalize the balance sheet of New Paramount. NAI and its owners have entered into a definitive agreement to sell NAI to Skydance IG for $2.4 billion on a cash-free, debt-free basis. Cravath is representing the Paramount Special Committee in connection with the agreement.
Deals & Cases
May 28, 2024
On May 28, 2024, United States Cellular Corporation (“UScellular”) announced that it has entered into a definitive agreement to sell its wireless operations and select spectrum assets to T‑Mobile for a purchase price of $4.4 billion, including a combination of cash and up to approximately $2 billion of assumed debt. Under the terms of the agreement, T‑Mobile will acquire UScellular’s wireless operations and approximately 30% of its spectrum assets across several spectrum bands. In addition, T‑Mobile will enter into a new master license agreement with UScellular on more than 2,000 towers. The agreement follows a thorough strategic review process announced in August 2023 and has been unanimously recommended by the independent directors of UScellular and unanimously approved by the Board of Directors of UScellular. Cravath is representing the independent directors of UScellular 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 29, 2024
On January 29, 2024, Montana Technologies LLC (“Montana Technologies”) announced an agreement to form a joint venture with GE Vernova, a global leader in electrification, decarbonization, and energy solutions, to incorporate GE Vernova’s proprietary sorbent materials into systems that utilize Montana Technologies’ patented AirJoule® dehumidification, air conditioning, and atmospheric water harvesting technology. The joint venture will exclusively manufacture and supply products incorporating the combined technologies to leading original equipment manufacturers and customers in the Americas, Africa, and Australia. Cravath is representing Montana Technologies in connection with the transaction.
Deals & Cases
December 20, 2023
On December 20, 2023, Aon plc (“Aon”), a leading global professional services firm, announced the signing of a definitive agreement to acquire NFP, a leading middle‑market property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, from funds affiliated with NFP’s main capital sponsor, Madison Dearborn Partners, and funds affiliated with HPS Investment Partners. Under the terms of the transaction, Aon will acquire NFP for a total consideration estimated to be $13.4 billion at the time of close, which will be funded by $7 billion of cash and $6.4 billion of Aon stock. Cravath is representing Aon in connection with the transaction.
Firm News
June 28, 2024
Cravath has elected the following new partner, who will become a member of the Firm on July 1, 2024:
Activities & Publications
May 17, 2024
On May 17, 2024, Cravath of counsel Benjamin G. Joseloff participated in the International Bar Association’s 39th annual International Financial Law Conference, which was held from May 15‑17, 2024, in Dublin, Ireland. Ben spoke on a panel entitled “Proliferation of FDI Rules All Around the World,” which reviewed how the expansion of Foreign Direct Investment and national security screening regimes—with more mandatory filings, lower thresholds and harsher potential penalties—is impacting companies and dealmakers, as well as how deal terms are evolving in response to the changing regulatory environment.
Activities & Publications
April 29, 2024
On April 24, 2024, Cravath of counsel Benjamin G. Joseloff spoke at Stanford Law School in Palo Alto, California. Ben provided an invited guest lecture in the law school’s International Economic Law, Business & Policy Colloquium, in which advanced degree students explore selected issues, case studies and policy debates in international economic law and business, global political economy and international economic dispute resolution. Ben’s lecture, entitled “Understanding CFIUS,” explored current legal and policy issues relating to the Committee on Foreign Investment in the United States (CFIUS) and other tools of U.S. economic statecraft.
Activities & Publications
April 12, 2024
On April 11, 2024, Cravath of counsel Benjamin G. Joseloff participated in the 10th National Conference on CFIUS, which was hosted by the American Conference Institute from April 10-12, 2024 in Arlington, VA. Ben spoke on a panel entitled “Introduction to CFIUS: Your A-to-Z Guide to Filing Requirements, Timelines, Mitigation, Enforcement, Penalties and Beyond,” which reviewed the basic regulatory standard necessary for a Committee for Foreign Investment in the United States (“CFIUS”) filing, the national security reasons for CFIUS filings, the scrutiny given to filings and the processing timelines.
Activities & Publications
November 20, 2023
Cravath of counsel Benjamin G. Joseloff and partners George F. Schoen and G.J. Ligelis Jr. co‑authored the U.S. chapter for the International Comparative Legal Guide’s “Foreign Direct Investment Regimes 2024,” which was published by Global Legal Group on November 16, 2023. The chapter examines U.S. foreign investment review policy and the law, regulations and procedures of the Committee on Foreign Investment in the United States (CFIUS), including both jurisdictional and substantive considerations as well as recent developments.
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