Sasha
Rosenthal-Larrea

On January 13, 2025, Johnson & Johnson and Intra‑Cellular Therapies, Inc. announced that they have entered into a definitive agreement under which Johnson & Johnson will acquire all outstanding shares of Intra‑Cellular Therapies, a biopharmaceutical company focused on the development and commercialization of therapeutics for central nervous system (CNS) disorders, for $132 per share in cash for a total equity value of approximately $14.6 billion. Cravath is representing Johnson & Johnson 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 December 20, 2024, Bendix Commercial Vehicle Systems LLC (“Bendix”), a North American subsidiary of Knorr-Bremse, announced the company finalized the sale of its wholly owned subsidiary, R.H. Sheppard Co., Inc. (“R.H. Sheppard”), to an affiliate of Balmoral Funds LLC (“Balmoral”), a Los Angeles-based private equity firm. The transaction encompasses the entire Sheppard business, including Sheppard’s branded products, production equipment, sales and service companies, and interests in joint ventures relating to sales and production. Cravath is representing Bendix in connection with the transaction.

On December 3, 2024, OMERS Private Equity, which manages investments globally on behalf of OMERS, one of Canada’s largest defined benefit pension plans, announced the signing of a definitive agreement to acquire a majority stake in Integris, a leading provider of IT services in the United States, from Frontenac, a Chicago‑based private equity firm. Financial terms of the transaction were not disclosed. Cravath is representing OMERS Private Equity in connection with the transaction.

On October 25, 2024, Legal & General (“L&G”), one of the U.K.’s leading financial services groups and a major global investor, announced its strategic investment in Taurus Investment Holdings, LLC (“Taurus”), a Boston‑based, global real estate private equity firm, alongside an initial commitment of up to $200 million in seed capital to multifamily real estate. Cravath is representing L&G in connection with the transaction.

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.

On October 25, 2024, Cravath published an article by partners D. Scott Bennett, Benjamin Gruenstein, David J. Kappos, Evan Norris, Ryan J. Patrone, Elad Roisman and Sasha Rosenthal‑Larrea, in collaboration with Jason Trager, Senior Director of Blockchain & Digital Assets at FTI Technology, entitled “Bringing Blockchain Due Diligence into Focus Alongside Uptick in Strategic Dealmaking.” The article discusses the renewed momentum around blockchain and digital assets, predicting an increase in deal activity including M&A transactions and joint ventures going into 2025, and explores the key elements that dealmaking teams should consider when conducting due diligence for these transactions.

On October 8, 2024, Cravath partner Sasha Rosenthal‑Larrea participated in “Understanding the Intellectual Property License 2024,” a program presented by the Practising Law Institute in New York. Sasha delivered a presentation entitled “Antitrust Issues in Licensing,” which addressed antitrust issues that arise in connection with licensing of intellectual property and the antitrust analysis applicable to a variety of licensing practices and scenarios.

Cravath partners Benjamin Gruenstein, Sasha Rosenthal‑Larrea and Evan Norris and Variant deputy general counsel Daniel Barabander co‑authored an article entitled “Cybersecurity Liability for Web3 Platforms: Key Issues and Risk Mitigation Solutions,” which was published by Bloomberg Law on September 4, 2024. The article explores the liability landscape faced by web3 platforms in the wake of a cybersecurity incident, including potential for negligence, breach of contract and breach of fiduciary duty claims, as well as securities law shareholder derivative claims. The article also details how parties can mitigate their risk through the integration of proactive security solutions.

On July 16, 2024, Cravath published the third edition of its Cravath Data Privacy and Security Review newsletter, which provides an overview of U.S. state and federal legislative and regulatory developments, alongside U.S. and global enforcement trends and takeaways, in the data privacy and security field for the first six months of 2024. The Review provides an update on emerging and existing privacy and security legislation at the federal level, including the American Privacy Rights Act, and highlights notable legislative developments at the state level across the country. This edition also highlights the heightened focus on cybersecurity and privacy‑related enforcement at federal agencies including the Federal Trade Commission and Securities and Exchange Commission, and provides global enforcement updates from China, the European Union, Germany and Chile.