Four Decades for Justice
On December 4, 2019, Cravath partner Lauren Angelilli was profiled in Lawdragon’s “Lawyer Limelight” series. The interview highlights Lauren’s work leading Cravath’s tax team on M&A transactions including Walt Disney’s $66 billion acquisition of Twenty‑First Century Fox, Viacom’s pending $30 billion combination with CBS Corporation and Occidental Petroleum’s $57 billion acquisition of Anadarko. Lauren spoke about the challenges that drew her to tax law, including the need for effective communication with clients and the crafting of practical solutions to reconcile abstract concepts to client’s overarching business priorities, as well as how Cravath’s collaborative work environment underlies the Firm’s success.
Deals & Cases
On June 20, 2018, The Walt Disney Company (“Disney”) announced that it signed an amended acquisition agreement with Twenty-First Century Fox, Inc. (“21st Century Fox”) under which Disney will acquire 21st Century Fox for $85 billion, rebuffing an interloper bid by Comcast to its original $66 billion agreement. The pending acquisition includes the Twentieth Century Fox Film and Television studios, along with its cable and international TV businesses. Immediately prior to the acquisition, 21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off to its shareholders. Cravath is representing Disney in connection with the transaction.
Deals & Cases
August 13, 2019
On August 13, 2019, Viacom and CBS Corp. (“CBS”), two of the world’s leading entertainment companies, announced they have entered into a definitive agreement to combine in an all‑stock merger, creating a combined company with more than $28 billion in revenue. Cravath is representing the Board Committee of Viacom in connection with the transaction.
Deals & Cases
May 22, 2019
On May 9, 2019, Cravath client Occidental Petroleum Corporation (“Occidental”) entered into a definitive agreement whereby Occidental will acquire Anadarko Petroleum Corporation (“Anadarko”) for $59.00 in cash and 0.2934 shares of Occidental common stock per share of Anadarko common stock, in a transaction valued at $57 billion, including the assumption of Anadarko’s debt. This follows Occidental’s revised proposal to acquire Anadarko on May 5, 2019. (To read the announcement about the revised proposal, please click here.)
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