Noah Joshua
Phillips

On March 18, 2025, Wiz, Inc. (“Wiz”), a leading cloud security platform headquartered in New York, and Google LLC (“Google”) announced they have signed a definitive agreement for Google to acquire Wiz for $32 billion, subject to closing adjustments, in an all‑cash transaction. Once closed, Wiz will join Google Cloud. Cravath is representing Wiz as regulatory counsel in connection with the transaction.

On January 27, 2025, the Aquarion Water Authority, a quasi-public corporation and political subdivision of the State of Connecticut and a standalone, newly created water authority alongside the South Central Connecticut Regional Water Authority, announced that it has entered into a definitive agreement to acquire Aquarion Water Company from Eversource Energy, an energy provider which transmits and delivers electricity and natural gas and supplies water to approximately 4.4 million customers in Connecticut, Massachusetts and New Hampshire. Subject to certain closing adjustments, the aggregate enterprise value of the sale is approximately $2.4 billion, which includes approximately $1.6 billion in cash and $800 million of net debt that will be extinguished at closing. Cravath is representing the Aquarion Water Authority in connection with the transaction.

On January 22, 2025, CardWorks, Inc. (“CardWorks”), a leader in credit and payments, and Ally Financial Inc. (“Ally”), a financial services company with the nation’s largest all‑digital bank and an industry‑leading auto financing business, announced that they have entered into a definitive agreement for CardWorks, and its wholly‑owned bank subsidiary, Merrick Bank, to acquire Ally’s credit card business, including a portfolio of $2.3 billion in credit card receivables with 1.3 million active cardholders as of December 31, 2024. Cravath is representing CardWorks in connection with the transaction.

On January 6, 2025, The Walt Disney Company (“Disney”) and FuboTV Inc. (“Fubo) announced that they have entered into a definitive agreement for Disney to combine its Hulu + Live TV business with Fubo, forming a combined virtual MVPD company of which Disney will become the majority owner.

On September 5, 2024, Verizon Communications Inc. and Frontier Communications Parent, Inc. (“Frontier”), the largest pure‑play fiber provider in the U.S., announced they have entered into a definitive agreement for Verizon to acquire Frontier in an all‑cash transaction valued at $20 billion. Cravath is representing Frontier in connection with the transaction.

Cravath partners David J. Kappos, Noah Joshua Phillips and Nicholas A. Dorsey participated in Cornell Tech’s Board of Directors Forum, which was held from March 26‑27, 2025 in New York. The forum, designed for board members and senior leaders, convened business and legal practitioners, Cornell faculty, former senior government regulators and directors of private and public companies to discuss how corporate boards can stay ahead of developing technologies, regulatory trends and geopolitical shifts.

Cravath partners Noah J. Phillips, Margaret T. Segall and Andrew C. Finch participated in the Global Competition Review Live: Law Leaders Global 2025 program, which was held from January 29‑31, 2025, in Miami, Florida. Noah and Maggie interviewed Rebekah Jurata, General Counsel at American Investment Council, in a fireside chat about how antitrust enforcers have approached private equity – and what to expect under the new Trump Administration. Andrew spoke on a panel entitled “Antitrust: Exchange of competitively sensitive information: how much should we care about sharing?,” during which panelists discussed the limits and framework of cooperation between competitors in light of the European Commission and the Competition and Markets Authority’s new guidance, the withdrawal by the U.S. DOJ of its information sharing guidance and changes in the enforcement landscape as it relates to the exchange of competitively sensitive information.

On January 22, 2025, Cravath partner Noah Joshua Phillips participated in “Late Stage & Public Co GC Dinner Discussion,” an event hosted by The L Suite in San Francisco, CA. The dinner convened GCs and CLOs from late stage and public companies for a guided discussion on the topic of “The Antitrust Equation: Balancing Innovation and Regulation in Tech.” Noah and Chad Skinner, General Counsel at Cloudflare, served as discussion leads for the session.

On January 13, 2025, Cravath published the fourth edition of its Cravath Data Privacy and Security Review newsletter. The Review provides an overview of U.S. state and federal legislative and regulatory developments, alongside U.S. and global enforcement trends and takeaways, in data privacy and cybersecurity for the last six months of 2024. The Review also provides an update on emerging and existing privacy and security legislation at the federal level, including the Video Privacy Protection Act, and highlights notable legislative developments at the state level, including in California, Illinois, New York and Pennsylvania. This edition highlights the heightened focus on cybersecurity and privacy‑related enforcement at federal agencies including the Federal Trade Commission, Securities and Exchange Commission, Department of Health and Human Services and Department of Justice, and provides global enforcement updates from the European Union, Australia and China.

Cravath partner Noah J. Phillips participated in “Reading Signs and Installing Guardrails: A Roadmap for the FTC,” an event hosted by the U.S. Chamber of Commerce on November 21, 2024, in Washington, D.C. The event convened Chamber members with competition and consumer protection policy priorities to discuss the future of the Federal Trade Commission, including how its composition, mission and focus are likely to change. Noah was featured in a fireside chat entitled “The Road Ahead.”