On February 25, 2026, Cravath published the latest edition of its Cravath Data Privacy and Security Review newsletter. The Review provides an overview of recent U.S. state and federal legislative and regulatory developments, alongside U.S. and global enforcement trends and takeaways, in data privacy and cybersecurity for the last six months of 2025. 

Cravath represented the underwriters in connection with the $1.5 billion registered senior notes offering of MPLX LP, a master limited partnership formed by Marathon Petroleum Corporation. MPLX LP owns, operates, develops and acquires pipelines and other midstream assets related to the transportation and storage of crude oil, refined products and other hydrocarbon-based products. The transaction closed on February 12, 2026.

Cravath represented The Walt Disney Company in connection with its $4 billion registered notes offering. The Walt Disney Company is a diversified worldwide entertainment company. The transaction closed on February 12, 2026.

On February 24, 2026, Cravath partner David J. Kappos participated in Stanford University’s Rock Center for Corporate Governance’s “Lawyering in the Age of AI Series: Boardroom Playbook for AI” in Palo Alto, California. The session examined how legal risk and competitive advantage are increasingly being shaped in the boardroom as AI becomes embedded across products, operations and decision‑making. Dave offered insights into how lawyers are advising companies and boards on navigating AI‑related crises and capitalizing on AI‑enabled opportunities.

On February 24, 2026, Cravath partner Elad Roisman participated in the National Investment Company Service Association’s 2026 Strategic Leadership Forum, which was held from February 23‑25 in Miami, Florida. The event featured deep dive conversations on the topics of digital assets, AI, regulation, retirement innovation and the future of wealth platforms. Elad spoke on a panel entitled “The Shifting Rulebook: SEC Then & Now,” which reviewed the changes in SEC priorities, what’s to come and how to stay ahead of compliance challenges. 

Cravath represented the European Investment Bank ("EIB") in connection with its $4 billion SEC‑registered notes offering. The purpose of the EIB is to contribute to the balanced and steady development of the internal market among Member States of the European Union. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on February 10, 2026.

On February 24, 2026, ADT, a leading provider of security, interactive and smart home solutions serving residential and small business customers in the U.S., announced it has acquired Origin Wireless, Inc. (“Origin”), bringing Origin’s AI sensing platform and related intellectual property into the ADT ecosystem. The purchase price for the transaction was $170 million in cash, subject to customary purchase price adjustments. Cravath is representing ADT in connection with the transaction.

On February 23, 2026, Crain’s New York Business featured Cravath partner Brittany L. Sukiennik in its 2026 list of “Notable Women in Law,” which recognizes “the women defining New York’s next era of law” and “leading the work that keeps systems functioning and rights protected.” Crain’s recognized Brittany, a member of Cravath’s Litigation Department, for her representation of clients including Xcel Energy in securing a favorable settlement before a trial related to the Colorado Marshall Wildfire, and Robinhood in securing the dismissal of antitrust and state law claims and defeating class certification of securities claims in the high‑profile “meme stock” litigation. The publication also highlighted Brittany’s active pro bono practice and work with Cravath’s Incarcerated Survivors Initiative.

On February 20, 2026, Lawdragon announced the inclusion of 8 Cravath partners in its annual list of the “500 Leading Global Entertainment, Sports & Media Lawyers.” The list, assembled based on research and vetting by peers, recognizes lawyers who “are at the center of it all, protecting brands, advising on ownership rights and investments, and heading off legal and reputational risk for globally recognized individuals.”

Cravath represented First Solar, Inc. in connection with its $1.5 billion revolving credit facility. First Solar is America’s leading photovoltaic solar technology and manufacturing company, and the only US‑headquartered company among the world’s largest solar manufacturers. The transaction closed on February 13, 2026.

On January 30, 2026, the California Court of Appeal affirmed the Superior Court of California, County of San Mateo’s grant of summary judgment in favor of Cravath client Dfinity Foundation (“Dfinity”) in a putative securities class action related to Dfinity’s Internet Computer Protocol (“ICP”) master governance tokens. Dfinity is a Swiss not‑for‑profit entity working to create a smart contract platform designed to power blockchain versions of popular internet applications.

Cravath represented the underwriters in connection with the $3 billion registered fixed‑to‑floating rate subordinated notes offering of JPMorgan Chase & Co., a leading global financial services firm. The transaction closed on February 5, 2026.

On February 10, 2026, Cravath of counsel Scott B. Reents participated in the New York International Arbitration Center’s “AI & the Transformation of the Legal Profession: A Town Hall on How AI is Reshaping Practice, Training, Ethics, and the Business of Law” in New York. Panelists addressed the opportunities and the risks of AI, with a focus on how legal institutions can adapt responsibly while preserving human judgment, professional standards and public trust.

On February 17, 2026, Tenax Aerospace Acquisition, LLC (“Tenax”) and Air Industries Group (“Air”) jointly announced that they have entered into an Agreement and Plan of Merger to combine Tenax’s special mission aviation business with Air’s precision aerospace manufacturing business. At the time of the merger, Air will issue shares of its common stock to holders of Tenax membership units. After the closing, Tenax shareholders are expected to own approximately 95% of Air’s outstanding shares while existing Air shareholders are expected to own approximately 5%, and the combined company expects to remain listed on the NYSE American under the symbol AIRI. Cravath is representing Tenax in connection with the transaction.

Cravath represented the initial purchasers in connection with the $1 billion 144A/Reg. S high‑yield senior notes tack‑on offering of Uniti Services LLC, Uniti Fiber Holdings Inc., Uniti Group Finance 2019 Inc. and CSL Capital, LLC. Uniti Group Inc., the issuers’ parent company, is a premier insurgent fiber provider dedicated to enabling mission‑critical connectivity across the United States. The transaction closed on February 4, 2026.

On February 17, 2026, Kennedy‑Wilson Holdings, Inc. (“Kennedy Wilson”) and Fairfax Financial Holdings Limited (“Fairfax”) jointly announced that Kennedy Wilson has entered into a definitive agreement to be acquired, in an all cash‑transaction, by an entity affiliated with a consortium led by William McMorrow, Chairman and Chief Executive Officer of Kennedy Wilson, and certain other senior executives of Kennedy Wilson (collectively, the “KW Management Group”), together with Fairfax (collectively, the “Consortium”).

On February 17, 2026, MTN Group Limited (“MTN”), Africa’s largest mobile network operator, announced that it has entered into an agreement with IHS Holding Limited (“IHS”), one of the largest independent owners, operators and developers of shared communications infrastructure in the world, to acquire the remaining shares of IHS not already owned by MTN in an all‑cash transaction at an offer price of $8.50 per IHS share, which implies an enterprise value of $6.2 billion. The structure of the transaction is intended such that, upon completion of IHS’ announced disposals of its Latin American businesses, MTN will acquire 100% of IHS’ African tower portfolio. Following the completion of the transaction, IHS will be de‑listed from the New York Stock Exchange. Cravath is representing MTN in connection with the transaction.

On February 16, 2026, Hapag‑Lloyd signed an agreement with Zim Integrated Shipping Services Ltd. (“ZIM”), the world’s 10th largest container shipping line, under which Hapag‑Lloyd will acquire 100% of ZIM’s shares for a consideration of $35 per share in cash. The total transaction value amounts to over $4 billion. As part of the transaction, FIMI Opportunity Funds will take ownership of a carved‑out Israeli container liner business. Cravath is representing Hapag‑Lloyd in connection with the transaction.

On February 13, 2025, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides insight into practical points, key takeaways and relevant developments related to the bond, equity and loan markets and restructuring activity during the fourth quarter of 2025. Highlights from this edition include:

On February 13, 2026, Cravath published the latest edition of its Quarterly Review, which provides insight into practical points, key takeaways and relevant developments across the M&A, activism, tax, regulatory and corporate governance landscape. This edition covers: