Transportation

Cravath represented the underwriters in connection with the $750 million registered notes offering of Canadian National Railway Company. Canadian National Railway Company engages in the rail and related transportation business. The transaction closed on September 18, 2024.

Cravath represented AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust in connection with its $2.4 billion registered senior notes offering. AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust are wholly owned subsidiaries of AerCap Holdings N.V., the world’s largest independent aircraft leasing company. The transaction closed on September 10, 2024.

Cravath represented the administrative agent, joint lead arrangers and joint bookrunners in connection with $3.1 billion of credit facilities made available to Aptiv PLC and certain of its subsidiaries. Aptiv PLC is a leading global technology and mobility architecture company primarily serving the automotive sector. The facilities consisted of a $2.5 billion bridge credit facility, used to partially finance the accelerated share repurchase of up to $3.0 billion of Aptiv PLC’s ordinary shares, and a $600 million term loan facility. The transactions closed on August 1, 2024, and August 19, 2024.

Cravath represented AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust in connection with its $750 million registered junior subordinated notes offering. AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust are wholly owned subsidiaries of AerCap Holdings N.V., the world's largest independent aircraft leasing company. The transaction closed on July 11, 2024.

Cravath represented Element Fleet Management Corp. in connection with its $750 million 144A/Reg. S senior notes offering. Element Fleet Management Corp. is the largest publicly traded pure‑play automotive fleet manager in the world. The transaction closed on March 13, 2024.

On July 29, 2024, Cravath partner G.J. Ligelis Jr. was featured in Bloomberg Law’s “They’ve Got Next: 40 Under 40” series, which recognizes “the accomplishments of stellar young lawyers nationwide,” based on their work on key client matters, assumption of leadership roles, pro bono commitments and more. In a Q&A, G.J. described his work on transformative deals, including for client AerCap in its $30 billion acquisition of GE Capital Aviation Services, the largest M&A deal in the history of the aircraft leasing industry. G.J. also highlighted Just Eat Takeaway.com’s $7.3 billion combination with Grubhub as a matter in which he was “particularly proud of” his role, having led the Cravath team representing Just Eat Takeaway.com on M&A matters during his third year as partner. G.J. emphasized the importance of teamwork in providing clients with seamless legal advice and praised the quality of the Firm’s attorneys across practice groups: “Nothing is more rewarding than introducing an M&A client to one of my litigation or investigations partners, capital markets partners or antitrust/regulatory partners and watching my client’s reaction as they realize they get the exact same level of quality, dedication, and personal touch across every area of Cravath.”

On June 6, 2024, Cravath partner David R. Marriott was recognized by Leaders League as a leading trial lawyer in the United States. The profile praised Dave’s “uncommon ability to consistently win complex cases of every hue, often against all odds,” as exemplified by his representation of clients including Illumina in its unprecedented antitrust trial victory against the FTC; Amgen in its successful defense against the FTC’s challenge to its $27.8 billion acquisition of Horizon Therapeutics; Louis Dreyfus Company and Imperial Sugar Company in their trial victory over the DOJ; Viatris in its summary judgment win to defeat a securities class action; and photographers Donald Graham and Eric McNatt, who secured favorable SDNY judgments in copyright infringement litigation against appropriation artist Richard Prince and his galleries. The publication deemed his work on the antitrust cases “a string of stunning…victories” in “three of the most significant antitrust cases of the last decade.” Leaders League further remarked that “Marriott never shirks from a challenge, no matter how daunting [the] odds or opposition.”

On March 26, 2024, Cravath partner David R. Marriott was named to Forbes’s 2024 list of “America’s Top 200 Lawyers.” The inaugural list recognized “the finest practitioners in the profession—lawyers with stellar track records in their specialties, those who have broken barriers to emerge as leaders in their fields, and attorneys most respected by peers and clients.” Dave’s accompanying profile highlighted his experience as a “courtroom heavyweight” and his representation of clients including AT&T, Avon Products, Bank of America, Bristol‑Myers Squibb, Colgate‑Palmolive and Delta Airlines. In particular, the publication noted Dave’s achievement of “setting precedent in antitrust and intellectual property law.”

On January 24, 2024, Cravath partner David R. Marriott was named to the Daily Journal’s 2024 list of “Leading Commercial Litigators.” The accompanying profile highlights his role in helping Amgen secure a consent order ending all litigation in connection with its pending acquisition of Horizon Therapeutics, as well as his summary judgment victory for Viatris, which was “one of the few resolutions of federal securities fraud litigation at summary judgment that ended entirely in favor of the defendants.” The profile also details Dave’s nearly 30‑year tenure at Cravath and his roles as a lecturer at Columbia University Law School and an adjunct professor at NYU School of Law.

On December 4, 2023, Cravath partner Noah Joshua Phillips was interviewed by the hosts of Yahoo Finance Live. During his appearance, he discussed the evolving antitrust landscape for airline industry mergers, including what the U.S. Department of Justice looks at when evaluating these deals and the role the White House can play in setting an antitrust agenda. He also shared his advice on how airlines can successfully clear an antitrust investigation.