On January 5, 2011, Qualcomm Incorporated (“Qualcomm”) and Atheros Communications, Inc. (“Atheros”) announced that they have entered into a definitive agreement whereby Qualcomm intends to acquire Atheros, a leader in innovative technologies for wireless and wired local area connectivity in the computing, networking and consumer electronics industries, for $45 per share in cash, representing an enterprise value of $3.1 billion. Cravath is representing Qualcomm in connection with this transaction. The transaction is expected to close in the first half of 2011.
The Cravath team includes partners Damien R. Zoubek and Scott A. Barshay and associates Susan K. Jong, Samuel J. Whittington and Kenneth S. Gerold on corporate matters; partner Eric W. Hilfers and associate Lori Diamond Goodman on executive compensation and benefits matters; partner Stephen L. Gordon and associate Mark E. Dundon on tax matters; partners Peter T. Barbur and Elizabeth L. Grayer, practice area attorneys Robin C. Landis and Thomas C. Viles and associate Alan E. Guy on antitrust matters; and practice area attorney Peter A. Emmi on intellectual property matters. Neetin Gulati also worked on executive compensation and benefits matters.