Scott Bennett Named a 2020 “Dealmaker of the Year” by The American Lawyer
March 25, 2020
Cravath partner D. Scott Bennett was featured as a “Dealmaker of the Year” in the April 2020 issue of The American Lawyer. Scott was selected for the annual feature in recognition of his role advising Novartis in connection with its $29.8 billion spin‑off of Alcon. The profile highlights the complexity of the deal, where there “was little roadmap,” and calls the matter “even more notable” given the Alcon business was “carved out of an even larger global company listed on two separate exchanges on two continents.”
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J.D., 2006, Emory University School of Law
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B.A., 2002, Duke University
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April 10, 2019
Novartis’s $29.8 Billion Spin-Off of Alcon
On April 9, 2019, Novartis completed the spin-off of the Alcon eye care devices business into a separately-traded standalone company through a dividend-in-kind distribution to holders of Novartis shares and American Depositary Receipts (“ADRs”), with each holder receiving 1 Alcon share for every 5 Novartis shares or ADRs held on April 8, 2019. Cravath represented Novartis in connection with this transaction, which is valued at approximately $29.8 billion based on first day trading of Alcon Inc.
