BioFuel Energy’s Acquisition of JBGL
June 11, 2014
On June 11, 2014, BioFuel Energy Corp. announced that it has entered into a definitive agreement with certain affiliates of Greenlight Capital, Inc. and James R. Brickman, pursuant to which BioFuel Energy will acquire the equity interests of JBGL Builder Finance LLC and certain subsidiaries of JBGL Capital, LP from Greenlight and Brickman. Cravath represented BioFuel Energy in connection with this transaction, which is subject to certain conditions and is expected to close in October 2014. JBGL is a series of real estate entities involved in the purchase and development of land for residential purposes, construction lending and home building operations. JBGL is currently owned and controlled by Greenlight and Brickman.
Pursuant to the terms of the agreement, BioFuel Energy will acquire JBGL for US$275 million, payable in cash and BioFuel Energy common stock. The cash portion of the purchase price will be funded from the proceeds of a US$70 million rights offering to be conducted by BioFuel Energy and approximately US$150 million in debt financing provided to BioFuel Energy by Greenlight.
The Cravath team included partner Craig F. Arcella and associates Benjamin G. Joseloff and Jacquelyn N. Arcati on corporate and securities matters; associates Wenying Zhang and Jennifer L. Tanaka on M&A matters; partner Andrew W. Needham and associate Sara L. Lykken on tax matters; partner Eric W. Hilfers, practice area attorney M. C. Tania Balthazaar and associate Amy C. Benford on executive compensation and benefits matters; partner Matthew Morreale on environmental matters; and senior attorney John Gerhard on real estate matters.
Related Practices & Industries
People
- Photo
-
-
J.D., 1998, Columbia Law SchoolHarlan Fiske Stone Scholar
-
B.A., 1995, Duke University
- New York
Education
Admitted In
- Photo
-
-
J.D., 1998, University of Chicago Law Schoolwith Honors
-
A.B., 1995, Princeton University
- New York
Education
Admitted In
- Photo
-
-
J.D., 1997, Columbia Law SchoolHarlan Fiske Stone Scholar
-
M.S., 1994, University of Pennsylvania
-
B.A., 1990, University of Pennsylvania
-
B.A.S., 1990, University of Pennsylvania
- New York
Education
Admitted In
- Photo
-
-
M.B.A., 1992, The Wharton School of the University of Pennsylvania
-
LL.M., 1990, Georgetown University Law Center
-
J.D., 1986, Georgetown University Law Center
-
B.A., 1982, University of Arizona College of Law
Education
Related News & Insights
Deals & Cases
May 09, 2025
TaskUs’s Take‑Private Acquisition by its Co‑Founders and Blackstone
On May 9, 2025, TaskUs, Inc. (“TaskUs”), a leading provider of outsourced digital services and next‑generation customer experience to companies, announced it has entered into a definitive agreement to become a privately held company. Under the terms of the agreement, an affiliate of Blackstone, TaskUs Co‑Founder and Chief Executive Officer Bryce Maddock and TaskUs Co‑Founder and President Jaspar Weir (collectively the “Buyer Group”) will acquire 100% of the outstanding shares of Class A common stock they do not already own for $16.50 per share in an all-cash transaction. Upon completion of the transaction, the Company’s Class A common stock will no longer be listed on any public market. The TaskUs Board of Directors has approved the transaction upon the unanimous recommendation of a special committee of independent directors (the “Special Committee”), which was formed on March 20, 2025, in response to interest expressed by the Buyer Group in exploring a possible transaction. Cravath is representing the Special Committee in connection with the transaction.
Deals & Cases
March 18, 2025
Wiz’s $32 Billion Acquisition by Google
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.
Deals & Cases
March 17, 2025
PepsiCo’s $1.95 Billion Acquisition of poppi
On March 17, 2025, PepsiCo, Inc. (“PepsiCo”) announced that it has entered into a definitive agreement to acquire poppi, a prebiotic soda brand, for $1.95 billion, including $300 million of anticipated cash tax benefits for a net purchase price of $1.65 billion. The transaction also includes an additional potential earnout consideration subject to the achievement of certain performance milestones within a specified period after closing of the transaction. Cravath is representing PepsiCo in connection with the transaction.
Deals & Cases
February 24, 2025
Bridge Investment Group’s $1.5 Billion Acquisition by Apollo
On February 24, 2025, Bridge Investment Group Holdings Inc. (“Bridge”), a leading alternative investment manager diversified across specialized asset classes, and Apollo Global Management, Inc. (“Apollo”) announced they have entered into a definitive agreement for Apollo to acquire Bridge in an all‑stock transaction with an equity value of approximately $1.5 billion. Under the terms of the transaction, Bridge stockholders and Bridge OpCo unitholders will receive 0.07081 shares of Apollo stock for each share of Bridge Class A common stock and each Bridge OpCo Class A common unit, respectively, valued by the parties at $11.50 per each share of Bridge Class A common stock and Bridge OpCo Class A common unit, respectively. Cravath is representing the special committee of the Bridge Board of Directors in connection with the transaction.
