On July 25, 2016, Verizon Communications Inc. and Yahoo! Inc. announced that they have entered into a definitive agreement under which Verizon will acquire Yahoo’s operating business for approximately $4.83 billion in cash, subject to customary closing adjustments. Cravath is representing the Strategic Review Committee of Yahoo’s Board of Directors in connection with the transaction.
The Cravath team is led by partners Faiza J. Saeed and Eric L. Schiele and includes associates Allison M. Wein, Evgenia Hochenberg and Claudia J. Ricciardi on M&A matters; partners Stephen L. Gordon and Lauren Angelilli and associates Tara L. Rhoades and Joyce Y. Kim on tax matters; and partner Jennifer S. Conway, practice area attorney David B. Teigman and associate Daniel P. Herrmann on executive compensation and benefits matters. Summer associates Samantha J. Ostrom and Ashley R. Strojny also worked on M&A matters.