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Knorr-Bremse's Acquisition of R.H. Sheppard

On January 30, 2020, Knorr‑Bremse, a global market leader for braking and other systems for rail and commercial vehicles, signed an agreement to acquire R.H. Sheppard Co., Inc. (“Sheppard”), one of the leading manufacturers of steering systems for vehicles on the North American market, from WABCO Holdings Inc. (“WABCO”) for a purchase price of $149.5 million. WABCO is selling Sheppard in connection with the proposed takeover of WABCO by ZF Friedrichshafen AG (“ZF”), and the closing of the Knorr‑Bremse acquisition of Sheppard is contingent upon the closing of the ZF acquisition of WABCO. Cravath is representing Knorr‑Bremse in connection with the transaction.

The Cravath team is led by partner Aaron M. Gruber and includes associates Rebecca D. Stacker, Andrew D. Norwich and Michael D. Weil on M&A matters; partner Christine A. Varney and senior attorney Jesse M. Weiss on antitrust matters; partner David J. Kappos and associate Kathryn‑Ann Stamm on intellectual property matters; partner Lauren Angelilli and associate Andrew T. Davis on tax matters; partner Jennifer S. Conway, senior attorney M. C. Tania Balthazaar and associate Dixing Tang on executive compensation and benefits matters; partners David M. Stuart and Rory A. Leraris and associates Nathaniel A. W. Crider and Ciara L. Grubbs on litigation matters; senior attorney Annmarie M. Terraciano on environmental matters; and practice area attorney Brian M. Budnick on real estate matters.