Patrick S.
Taylor

On August 12, 2024, Scotiabank announced that it has entered into an agreement to acquire an approximate 14.9% pro-forma ownership stake in KeyCorp, a premier U.S. based financial services company, through an issuance of common shares at a price of $17.17 per share. The total cash consideration is approximately $2.8 billion. Cravath is representing Scotiabank in connection with the transaction.

On February 12, 2024, Martin Marietta Materials, Inc. (“Martin Marietta”) announced that on February 11, 2024, it entered into a definitive agreement to acquire 20 active aggregates operations in Alabama, South Carolina, South Florida, Tennessee, and Virginia from affiliates of Blue Water Industries LLC (“BWI Southeast”) for $2.05 billion in cash. Additionally, on February 9, 2024, Martin Marietta completed its previously announced divestiture of its South Texas cement and related concrete operations to CRH Americas Materials, Inc., a subsidiary of CRH plc, for $2.1 billion in cash. Cravath is representing Martin Marietta in connection with the transactions.

On December 18, 2023, ZimVie Inc. (“ZimVie”), a global life sciences leader in the dental and spine markets, announced it has entered into a definitive agreement to sell its spine business to H.I.G. Capital, a leading global alternative investment firm. Under the terms of the agreement, upon the closing of the transaction, ZimVie will receive $375 million in total consideration, comprised of $315 million in cash, subject to certain customary adjustments as set forth in the agreement, and $60 million in the form of a promissory note that will accrue interest at a rate of 10% per annum, compounded semi‑annually, payable in kind. Cravath is representing ZimVie in connection with the transaction.

On November 21, 2023, Martin Marietta Materials, Inc. (“Martin Marietta”) announced that it has entered into a definitive agreement to sell its South Texas cement business and certain of its related concrete operations to CRH Americas Materials, Inc., a subsidiary of CRH plc, for $2.1 billion in cash. Cravath is representing Martin Marietta in connection with the transaction.

On September 12, 2023, the Boards of WestRock and Smurfit Kappa announced the signing of a definitive transaction agreement to create Smurfit WestRock, a global leader in sustainable packaging. Together, Smurfit Kappa and WestRock generated combined last twelve months’ adjusted annual revenue of approximately $34 billion as of June 30, 2023. Cravath is representing WestRock in connection with the transaction.

Cravath named Saagar Kaul, April Michelle Kent, Dean M. Nickles, Nathan Noh, Ellen H. Park and Patrick S. Taylor of counsels of the Firm, effective January 1, 2025.