Four Decades for Justice
On December 16, 2015, Steven Spielberg, Principal Partner, DreamWorks Studios; Jeff Skoll, Chairman, Participant Media; Anil Ambani, Chairman, Reliance Group; and Darren Throop, President and Chief Executive Officer, Entertainment One (eOne) announced the formation of Amblin Partners, a new film, television and digital content creation company. Cravath represented Steven Spielberg and Amblin Partners in connection with this transaction.
The new company will create content using the Amblin, DreamWorks Pictures and Participant brands. Participant Media will remain a separate company.
The Cravath team included partner Faiza J. Saeed and associate Nicholas M. Foley on corporate matters; partner Lauren Angelilli and associate Richard Bohm on tax matters; associates Matthew Cantor and Michelle M. Garrett on executive compensation and benefits matters; and partner George E. Zobitz, senior attorney Christopher J. Kelly and associates David J. Kohtz and Gabriella Kleeman on financing matters. Claudia J. Ricciardi also worked on corporate matters.
Deals & Cases
September 06, 2022
On September 6, 2022, ADT Inc. (“ADT”) and State Farm announced that State Farm has agreed to make a $1.2 billion equity investment in ADT to acquire 133.3 million shares of ADT’s common stock at $9 a share. In connection with State Farm’s equity investment, ADT will be commencing a self‑tender offer for up to 133.3 million shares of its outstanding common stock and Class B common stock at $9 per share, to be funded by the proceeds from the State Farm equity investment. After the equity investment and tender offer close, State Farm will own approximately 15% of ADT. Additionally, State Farm will commit $300 million to an opportunity fund to support product and technology innovation, customer growth and marketing, and Google has separately agreed to commit an incremental $150 million, raising its total success fund commitment to $300 million. Cravath is representing ADT in connection with the transactions.
Deals & Cases
September 06, 2022
On September 6, 2022, Texas Capital Bancshares, Inc. (“Texas Capital”) announced it has entered into a definitive agreement to sell BankDirect Capital Finance, LLC (“BankDirect”), its insurance premium finance subsidiary, to AFCO Credit Corporation (“AFCO”), an indirect wholly‑owned subsidiary of Truist Financial Corp. (“Truist”), in an all‑cash transaction for a purchase price of approximately $3.4 billion. This transaction represents the divestiture of the entire business unit including the equity interests of BankDirect and the associated loan balances held by Texas Capital Bank and no parent funding, deposits or capital will be transferred. Cravath is representing Texas Capital in connection with the transaction.
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