Four Decades for Justice
On September 6, 2017, Pitney Bowes, a global technology company that provides innovative products and solutions to power commerce, announced that it has signed a definitive agreement to acquire Newgistics, Inc., an Austin, Texas‑based provider of parcel delivery, returns, fulfillment and digital commerce solutions for retailers and e‑commerce brands, for approximately $475 million. Cravath is representing Pitney Bowes in connection with the transaction.
The Cravath team is led by partner Ting S. Chen and includes associates Daniel R. Satin and Lillian C. Bond on M&A matters; partner Lauren Angelilli, senior attorney Andrew Carlon and associate Lingfeng Li on tax matters; partner Eric W. Hilfers and associates Matthew Cantor, Daniel P. Herrmann and Sally Ye on executive compensation and benefits matters; partner Matthew Morreale on environmental matters; partner Margaret Segall D’Amico and associate Darnell Stanislaus on antitrust matters; practice area attorney Brian M. Budnick on real estate matters; and practice area attorney Anthony N. Magistrale on intellectual property matters. Timothy N. Nguyen and Sabino M. Casella also worked on M&A matters.
Deals & Cases
April 02, 2024
On April 2, 2024, Endeavor Group Holdings, Inc. (“Endeavor”), a global sports and entertainment company, announced that it has entered into a definitive agreement to be acquired by Silver Lake, the global leader in technology investing, in partnership with the Endeavor management team and additional anchor investors. Cravath is representing the independent Special Committee of Endeavor’s board of directors in connection with the transaction.
Deals & Cases
January 31, 2024
On January 31, 2024, Health Care Service Corporation (“HCSC”), the country’s largest customer‑owned health insurer, announced that it has signed a definitive agreement with The Cigna Group (“Cigna”) to acquire its Medicare Advantage, Medicare Supplemental Benefits, Medicare Part D and CareAllies businesses for a purchase price of $3.3 billion. Cigna’s Medicare plans currently serve 3.6 million Medicare members. Cravath is representing HCSC in connection with the transaction.
Deals & Cases
December 12, 2023
On December 11, 2023, HMS Networks AB (“HMS”), a global provider of industrial information and communication technology, announced it has entered into a binding agreement with Spectris Group Holdings Limited to acquire the Red Lion Controls business, a U.S.-based provider of industrial automation solutions, through the acquisition of 100 percent of the shares in Red Lion Controls Inc. and Red Lion Europe GmbH as well as certain assets in other jurisdictions, for a cash consideration of $345 million. Cravath is representing HMS as special U.S. counsel in connection with the transaction.
Deals & Cases
October 17, 2023
On October 17, 2023, Thermo Fisher Scientific Inc. (“Thermo Fisher”), the world leader in serving science, and Olink Holding AB (publ) (“Olink”), a leading provider of next generation proteomics solutions, announced that their respective boards of directors have approved Thermo Fisher’s proposal to acquire Olink for $26.00 per common share in cash, representing $26.00 per American Depositary Share in cash. Thermo Fisher will commence a tender offer to acquire all of the outstanding Olink common shares and all of the American Depositary Shares. The transaction values Olink at approximately $3.1 billion which includes net cash of approximately $143 million. Cravath is representing Thermo Fisher in connection with the transaction.
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