On October 3, 2011, Pharmaceutical Product Development, a leading global contract research organization, announced that it has entered into a definitive merger agreement under which it will be acquired by affiliates of The Carlyle Group and Hellman & Friedman in a transaction valued at approximately $3.9 billion. Cravath represented Credit Suisse as a lead arranger of $2.2 billion in committed financing to be provided to affiliates of The Carlyle Group and Hellman & Friedman.
The Cravath team included partner Craig F. Arcella and associates Joseph D. Zavaglia, Michelle Y. Park and David S. Mitchell on corporate matters; partner Michael L. Schler on tax matters; and partner Jeffrey A. Smith on environmental matters.