Lauren Angelilli is Head of the Tax Department. Her practice focuses on advising clients on the tax and structuring aspects of mergers and acquisitions, spin‑offs, restructurings and joint ventures, both domestically and cross‑border. Ms. Angelilli is known by clients and peers for her “extremely deep tax technical knowledge” and her “excellent job of communicating how the technical points impact a deal or business decision.”
Ms. Angelilli’s experience encompasses a wide range of matters and transaction types. She regularly advises clients in connection with:
- Significant M&A transactions, including for Anheuser-Busch InBev in its $123 billion acquisition of SABMiller; Disney in its $85 billion acquisition of 21st Century Fox; H.J. Heinz and 3G Capital in Heinz’s $60 billion merger with Kraft Foods Group; Occidental Petroleum in its $57 billion acquisition of Anadarko, topping Anadarko’s original agreement with Chevron; Paramount in its proposed $108.4 billion acquisition of Warner Bros. Discovery; and Time Warner in its $109 billion sale to AT&T
- Spin-offs, split‑offs and public listings, including for Ashland in the IPO and tax‑free separation of its Valvoline business; DreamWorks Animation in its IPO; Graham Holdings in the spin‑off of Cable One; Honeywell in the spin‑off of its Resins and Chemicals business into a new independent public company, AdvanSix; Sprint in its spin‑off of EMBARQ; Time Warner in its spin‑offs of Time Inc., AOL and Time Warner Cable and the split‑off of the Atlanta Braves to Liberty Media; White Mountains Insurance in its split‑off of certain insurance businesses to General Reinsurance; and Xerox in the spin‑off of Conduent
- Special committee and board of director matters, including for Bridge Investment Group’s special committee in the $1.5 billion acquisition by Apollo; Endeavor’s special committee in the $25 billion take‑private acquisition by Silver Lake; the special committee of the Hudson board of directors in the sale of all remaining equity interests in Hudson to Dufry; Paramount’s special committee in the $28 billion merger with Skydance; TaskUs’s special committee in the proposed $2 billion take‑private acquisition by Blackstone and the company’s co‑founders; Viacom’s board committee in the $30 billion merger with CBS; Yahoo’s board committee in the $4.48 billion acquisition of Yahoo’s operating business by Verizon; and the special committee of the board of Eidos Therapeutics in the $2.83 billion merger with BridgeBio Pharma
- Complex private equity transactions, including for the founders of Alliance Animal Health in the significant growth investment from L Catterton; Aras in its substantial growth investment from GI Partners; Atlas Air in its $5.2 billion acquisition by an investor group led by Apollo; Brookfield and its affiliates in Brookfield Reinsurance’s $4.3 billion acquisition of American Equity Investment Life and Brookfield Renewable’s $2.8 billion acquisition of Duke Energy Renewables; Cable One in the formation of Clearwave Fiber, a joint venture with GTCR, Stephens Capital Partners and The Pritzker Organization; and J.D. Power in its sale to Thoma Bravo
Ms. Angelilli has represented clients across a diverse range of industry sectors, with significant depth in technology, media and telecommunications, as well as biotechnology and life sciences. Notable matters include representing:
Technology
- Afterpay in its $29 billion acquisition by Block
- J.D. Power in its sale to Thoma Bravo
- Pitney Bowes in the $700 million sale of its Software Solutions business to Syncsort, its $475 million acquisition of Newgistics and its $395 million acquisition of Borderfree
- TaskUs’s special committee in the proposed $2 billion take-private acquisition by Blackstone and the company’s co‑founders
- Technicolor in the $475 million sale of its Patent Licensing business to InterDigital
- Wiz in its pending $32 billion acquisition by Google
- Xerox in the $1.05 billion sale of its information technology outsourcing business to Atos and the spin‑off of Conduent
- Yahoo’s board committee in the $4.48 billion acquisition of Yahoo’s operating business by Verizon
Media and Entertainment
- Amblin Partners in the exit of Participant as an equity holder and NBCUniversal’s re‑investment; its strategic partnership with Alibaba Pictures; and, together with Steven Spielberg, in its formation with Participant Media, Reliance Entertainment and Entertainment One
- Disney in its $85 billion acquisition of 21st Century Fox, overcoming an interloper bid by Comcast to its original $66 billion agreement; the $10.6 billion sale of the Fox Regional Sports Networks to Sinclair; the $3.47 billion sale of its interest in the YES Network to an investor group including the Yankees and Sinclair; ESPN’s pending acquisition of NFL Network and other media assets from the NFL in exchange for a 10% equity stake in ESPN; the combination of its Hulu + Live TV business with Fubo; ESPN’s proposed joint venture with Fox and Warner Bros. Discovery to launch Venu Sports; ESPN’s strategic alliance with PENN Entertainment to launch ESPN BET; Endemol Shine’s acquisition by Banijay Group; the sale of FoxNext Games to Scopely; and the sale of a majority stake in Fox TeleColombia & Estudios TeleMexico to ViacomCBS
- DreamWorks Animation in a number of matters, including its IPO, the formation of Oriental DreamWorks and its $4.1 billion sale to Comcast
- Endeavor’s special committee in the $25 billion take‑private acquisition by Silver Lake
- Paramount in its proposed $108.4 billion acquisition of Warner Bros. Discovery
- Paramount’s special committee in the $28 billion merger with Skydance
- Quibi in its $750 million Series C private financing, the sale of its global content distribution rights to Roku and its out‑of‑court wind‑down process
- Time Warner in its $109 billion sale to AT&T; its investment in Hulu; and its spin-offs of Time Inc., AOL and Time Warner Cable and the split‑off of the Atlanta Braves to Liberty Media
- Viacom’s board committee in the $30 billion merger with CBS
Telecommunications
- Bharti in the acquisition of, and $1 billion investment in, OneWeb by a consortium led by Bharti and Her Majesty’s Government
- Cable One in in its pending $1.3 billion acquisition of full ownership of Mega Broadband and its previous strategic partnership with Mega Broadband, a joint venture with GTCR; the formation of Clearwave Fiber, a joint venture with GTCR, Stephens Capital Partners and The Pritzker Organization, and Clearwave Fiber’s pending combination with Point Broadband; its $2.2 billion acquisition of Hargray Communications; its $735 million acquisition of NewWave Communications; its $525.9 million acquisition of Fidelity Communications’ data, video and voice business; and its acquisition of Clearwave Communications
- EMBARQ in its acquisition by CenturyTel
- Graham Holdings in the spin‑off of Cable One
- Sprint in its merger with Nextel Communications and later spin-off of EMBARQ
Biotechnology, Life Sciences and Healthcare
- AmerisourceBergen in its $6.5 billion acquisition of Walgreens’ Alliance Healthcare businesses and its strategic relationship with Walgreens and Alliance Boots
- AveXis in its $8.7 billion acquisition by Novartis
- Biogen in its $7.3 billion acquisition of Reata Pharmaceuticals
- Cano Health shareholders, including members of management, in the $4.4 billion SPAC merger with Jaws Acquisition Corp., which included an $800 million PIPE investment
- The special committee of the board of Eidos Therapeutics in the $2.83 billion merger with BridgeBio Pharma
- Global Blood Therapeutics in its $5.4 billion acquisition by Pfizer
- HCSC in its $3.3 billion acquisition of Cigna’s Medicare businesses and CareAllies
- Shire in its $32 billion combination with Baxalta
- Thermo Fisher Scientific in its $20.9 billion acquisition of PPD and its $3.1 billion acquisition of Olink
Financial Services and Insurance
- Aon in its $13 billion acquisition of NFP
- Bridge Investment Group’s special committee in the $1.5 billion acquisition by Apollo
- Brookfield Reinsurance in its $4.3 billion acquisition of American Equity Investment Life
Consumer and Retail
- Anheuser-Busch InBev in its $123 billion acquisition of SABMiller and the $12 billion sale of SABMiller’s U.S. and global Miller‑branded businesses to Molson Coors
- Bacardi in its acquisition of ILEGAL Mezcal
- H.J. Heinz and 3G Capital in Heinz’s $60 billion merger with Kraft Foods Group to form The Kraft Heinz Company
- The special committee of the Hudson board of directors in the sale of all remaining equity interests in Hudson to Dufry
- Starbucks in its acquisition of Teavana, its commercial arrangement with Oprah Winfrey and its investment in Square
- Starwood Hotels in its $13.3 billion sale to Marriott International
- Unilever in its acquisition of a majority stake in Nutrafol
Energy, Infrastructure and Industrials
- Altra in its $5 billion acquisition by Regal Rexnord, the $3 billion “Reverse Morris Trust” combination with Fortive’s Automation and Specialty platform and the $325 million sale of its Jacobs Vehicle Systems business to Cummins
- The Aquarion Water Authority in its pending $2.4 billion acquisition of Aquarion Water Company from Eversource Energy
- Ashland in the $1.8 billion sale of Ashland Water Technologies to Clayton, Dubilier & Rice, the $1.65 billion sale of its performance adhesives business to Arkema, its $660 million acquisition of Pharmachem, the IPO and tax‑free separation of its Valvoline business and the sale of its nutraceuticals business to Turnspire Capital Partners
- Brookfield Renewable in its $2.8 billion acquisition of Duke Energy Renewables
- Honeywell in its proposed $90 billion acquisition of United Technologies, the $300 million sale of Honeywell Technology Solutions and the spin‑off of its Resins and Chemicals business into a new independent public company, AdvanSix
- Occidental Petroleum in its $57 billion acquisition of Anadarko, topping Anadarko’s original agreement with Chevron; the $10 billion investment by Berkshire Hathaway; the $8.8 billion sale of Anadarko’s African assets to Total; and the $9.7 billion sale of OxyChem to Berkshire Hathaway
- RWE in its $6.8 billion acquisition of the Con Edison Clean Energy Businesses
Transportation
- Atlas Air in its $5.2 billion acquisition by an investor group led by Apollo
- Canadian National Railway in its proposed $33.6 billion combination with Kansas City Southern
- Delta Air Lines in its acquisition of 49% of Virgin Atlantic from Singapore Airlines and in Delta’s related trans‑Atlantic joint venture with Virgin
- UAL in its merger of equals with Continental Airlines, creating United Continental Holdings
Ms. Angelilli has been repeatedly cited as a leading tax practitioner by, among others, Chambers USA, The Legal 500 US and The Best Lawyers in America. She has been named a “Tax MVP” and was selected to the “Influential Women in Tax Law” list by Law360. Ms. Angelilli has also been named to the list of “Leading Women Lawyers in New York City” by Crain’s New York Business and was named “Best in Tax” by Euromoney Legal Media Group’s Americas Women in Business Law Awards. Additionally, Ms. Angelilli has been recognized by Forbes as among “America’s Top Lawyers” and by Lawdragon as among the “500 Leading Lawyers in America,” the “500 Leading Dealmakers in America” and the “500 Leading Global Tax Lawyers.”
Ms. Angelilli was born in New York, New York. She received a B.S. magna cum laude from the Wharton School of the University of Pennsylvania in 1996 and a J.D. cum laude from Harvard Law School in 2000.
Ms. Angelilli joined Cravath in 2000 and was elected a partner in 2007.
Ms. Angelilli’s experience encompasses a wide range of matters and transaction types. She regularly advises clients in connection with:
- Significant M&A transactions, including for Anheuser-Busch InBev in its $123 billion acquisition of SABMiller; Disney in its $85 billion acquisition of 21st Century Fox; H.J. Heinz and 3G Capital in Heinz’s $60 billion merger with Kraft Foods Group; Occidental Petroleum in its $57 billion acquisition of Anadarko, topping Anadarko’s original agreement with Chevron; Paramount in its proposed $108.4 billion acquisition of Warner Bros. Discovery; and Time Warner in its $109 billion sale to AT&T
- Spin-offs, split‑offs and public listings, including for Ashland in the IPO and tax‑free separation of its Valvoline business; DreamWorks Animation in its IPO; Graham Holdings in the spin‑off of Cable One; Honeywell in the spin‑off of its Resins and Chemicals business into a new independent public company, AdvanSix; Sprint in its spin‑off of EMBARQ; Time Warner in its spin‑offs of Time Inc., AOL and Time Warner Cable and the split‑off of the Atlanta Braves to Liberty Media; White Mountains Insurance in its split‑off of certain insurance businesses to General Reinsurance; and Xerox in the spin‑off of Conduent
- Special committee and board of director matters, including for Bridge Investment Group’s special committee in the $1.5 billion acquisition by Apollo; Endeavor’s special committee in the $25 billion take‑private acquisition by Silver Lake; the special committee of the Hudson board of directors in the sale of all remaining equity interests in Hudson to Dufry; Paramount’s special committee in the $28 billion merger with Skydance; TaskUs’s special committee in the proposed $2 billion take‑private acquisition by Blackstone and the company’s co‑founders; Viacom’s board committee in the $30 billion merger with CBS; Yahoo’s board committee in the $4.48 billion acquisition of Yahoo’s operating business by Verizon; and the special committee of the board of Eidos Therapeutics in the $2.83 billion merger with BridgeBio Pharma
- Complex private equity transactions, including for the founders of Alliance Animal Health in the significant growth investment from L Catterton; Aras in its substantial growth investment from GI Partners; Atlas Air in its $5.2 billion acquisition by an investor group led by Apollo; Brookfield and its affiliates in Brookfield Reinsurance’s $4.3 billion acquisition of American Equity Investment Life and Brookfield Renewable’s $2.8 billion acquisition of Duke Energy Renewables; Cable One in the formation of Clearwave Fiber, a joint venture with GTCR, Stephens Capital Partners and The Pritzker Organization; and J.D. Power in its sale to Thoma Bravo
Ms. Angelilli has represented clients across a diverse range of industry sectors, with significant depth in technology, media and telecommunications, as well as biotechnology and life sciences. Notable matters include representing:
Technology
- Afterpay in its $29 billion acquisition by Block
- J.D. Power in its sale to Thoma Bravo
- Pitney Bowes in the $700 million sale of its Software Solutions business to Syncsort, its $475 million acquisition of Newgistics and its $395 million acquisition of Borderfree
- TaskUs’s special committee in the proposed $2 billion take-private acquisition by Blackstone and the company’s co‑founders
- Technicolor in the $475 million sale of its Patent Licensing business to InterDigital
- Wiz in its pending $32 billion acquisition by Google
- Xerox in the $1.05 billion sale of its information technology outsourcing business to Atos and the spin‑off of Conduent
- Yahoo’s board committee in the $4.48 billion acquisition of Yahoo’s operating business by Verizon
Media and Entertainment
- Amblin Partners in the exit of Participant as an equity holder and NBCUniversal’s re‑investment; its strategic partnership with Alibaba Pictures; and, together with Steven Spielberg, in its formation with Participant Media, Reliance Entertainment and Entertainment One
- Disney in its $85 billion acquisition of 21st Century Fox, overcoming an interloper bid by Comcast to its original $66 billion agreement; the $10.6 billion sale of the Fox Regional Sports Networks to Sinclair; the $3.47 billion sale of its interest in the YES Network to an investor group including the Yankees and Sinclair; ESPN’s pending acquisition of NFL Network and other media assets from the NFL in exchange for a 10% equity stake in ESPN; the combination of its Hulu + Live TV business with Fubo; ESPN’s proposed joint venture with Fox and Warner Bros. Discovery to launch Venu Sports; ESPN’s strategic alliance with PENN Entertainment to launch ESPN BET; Endemol Shine’s acquisition by Banijay Group; the sale of FoxNext Games to Scopely; and the sale of a majority stake in Fox TeleColombia & Estudios TeleMexico to ViacomCBS
- DreamWorks Animation in a number of matters, including its IPO, the formation of Oriental DreamWorks and its $4.1 billion sale to Comcast
- Endeavor’s special committee in the $25 billion take‑private acquisition by Silver Lake
- Paramount in its proposed $108.4 billion acquisition of Warner Bros. Discovery
- Paramount’s special committee in the $28 billion merger with Skydance
- Quibi in its $750 million Series C private financing, the sale of its global content distribution rights to Roku and its out‑of‑court wind‑down process
- Time Warner in its $109 billion sale to AT&T; its investment in Hulu; and its spin-offs of Time Inc., AOL and Time Warner Cable and the split‑off of the Atlanta Braves to Liberty Media
- Viacom’s board committee in the $30 billion merger with CBS
Telecommunications
- Bharti in the acquisition of, and $1 billion investment in, OneWeb by a consortium led by Bharti and Her Majesty’s Government
- Cable One in in its pending $1.3 billion acquisition of full ownership of Mega Broadband and its previous strategic partnership with Mega Broadband, a joint venture with GTCR; the formation of Clearwave Fiber, a joint venture with GTCR, Stephens Capital Partners and The Pritzker Organization, and Clearwave Fiber’s pending combination with Point Broadband; its $2.2 billion acquisition of Hargray Communications; its $735 million acquisition of NewWave Communications; its $525.9 million acquisition of Fidelity Communications’ data, video and voice business; and its acquisition of Clearwave Communications
- EMBARQ in its acquisition by CenturyTel
- Graham Holdings in the spin‑off of Cable One
- Sprint in its merger with Nextel Communications and later spin-off of EMBARQ
Biotechnology, Life Sciences and Healthcare
- AmerisourceBergen in its $6.5 billion acquisition of Walgreens’ Alliance Healthcare businesses and its strategic relationship with Walgreens and Alliance Boots
- AveXis in its $8.7 billion acquisition by Novartis
- Biogen in its $7.3 billion acquisition of Reata Pharmaceuticals
- Cano Health shareholders, including members of management, in the $4.4 billion SPAC merger with Jaws Acquisition Corp., which included an $800 million PIPE investment
- The special committee of the board of Eidos Therapeutics in the $2.83 billion merger with BridgeBio Pharma
- Global Blood Therapeutics in its $5.4 billion acquisition by Pfizer
- HCSC in its $3.3 billion acquisition of Cigna’s Medicare businesses and CareAllies
- Shire in its $32 billion combination with Baxalta
- Thermo Fisher Scientific in its $20.9 billion acquisition of PPD and its $3.1 billion acquisition of Olink
Financial Services and Insurance
- Aon in its $13 billion acquisition of NFP
- Bridge Investment Group’s special committee in the $1.5 billion acquisition by Apollo
- Brookfield Reinsurance in its $4.3 billion acquisition of American Equity Investment Life
Consumer and Retail
- Anheuser-Busch InBev in its $123 billion acquisition of SABMiller and the $12 billion sale of SABMiller’s U.S. and global Miller‑branded businesses to Molson Coors
- Bacardi in its acquisition of ILEGAL Mezcal
- H.J. Heinz and 3G Capital in Heinz’s $60 billion merger with Kraft Foods Group to form The Kraft Heinz Company
- The special committee of the Hudson board of directors in the sale of all remaining equity interests in Hudson to Dufry
- Starbucks in its acquisition of Teavana, its commercial arrangement with Oprah Winfrey and its investment in Square
- Starwood Hotels in its $13.3 billion sale to Marriott International
- Unilever in its acquisition of a majority stake in Nutrafol
Energy, Infrastructure and Industrials
- Altra in its $5 billion acquisition by Regal Rexnord, the $3 billion “Reverse Morris Trust” combination with Fortive’s Automation and Specialty platform and the $325 million sale of its Jacobs Vehicle Systems business to Cummins
- The Aquarion Water Authority in its pending $2.4 billion acquisition of Aquarion Water Company from Eversource Energy
- Ashland in the $1.8 billion sale of Ashland Water Technologies to Clayton, Dubilier & Rice, the $1.65 billion sale of its performance adhesives business to Arkema, its $660 million acquisition of Pharmachem, the IPO and tax‑free separation of its Valvoline business and the sale of its nutraceuticals business to Turnspire Capital Partners
- Brookfield Renewable in its $2.8 billion acquisition of Duke Energy Renewables
- Honeywell in its proposed $90 billion acquisition of United Technologies, the $300 million sale of Honeywell Technology Solutions and the spin‑off of its Resins and Chemicals business into a new independent public company, AdvanSix
- Occidental Petroleum in its $57 billion acquisition of Anadarko, topping Anadarko’s original agreement with Chevron; the $10 billion investment by Berkshire Hathaway; the $8.8 billion sale of Anadarko’s African assets to Total; and the $9.7 billion sale of OxyChem to Berkshire Hathaway
- RWE in its $6.8 billion acquisition of the Con Edison Clean Energy Businesses
Transportation
- Atlas Air in its $5.2 billion acquisition by an investor group led by Apollo
- Canadian National Railway in its proposed $33.6 billion combination with Kansas City Southern
- Delta Air Lines in its acquisition of 49% of Virgin Atlantic from Singapore Airlines and in Delta’s related trans‑Atlantic joint venture with Virgin
- UAL in its merger of equals with Continental Airlines, creating United Continental Holdings
Ms. Angelilli has been repeatedly cited as a leading tax practitioner by, among others, Chambers USA, The Legal 500 US and The Best Lawyers in America. She has been named a “Tax MVP” and was selected to the “Influential Women in Tax Law” list by Law360. Ms. Angelilli has also been named to the list of “Leading Women Lawyers in New York City” by Crain’s New York Business and was named “Best in Tax” by Euromoney Legal Media Group’s Americas Women in Business Law Awards. Additionally, Ms. Angelilli has been recognized by Forbes as among “America’s Top Lawyers” and by Lawdragon as among the “500 Leading Lawyers in America,” the “500 Leading Dealmakers in America” and the “500 Leading Global Tax Lawyers.”
Ms. Angelilli was born in New York, New York. She received a B.S. magna cum laude from the Wharton School of the University of Pennsylvania in 1996 and a J.D. cum laude from Harvard Law School in 2000.
Ms. Angelilli joined Cravath in 2000 and was elected a partner in 2007.
Education
-
J.D., 2000, Harvard Law Schoolcum laude
-
B.S., 1996, The Wharton School of the University of Pennsylvaniamagna cum laude
Admitted In
- New York
Rankings
Best Lawyers in America
- Tax Law (2026‑2013)
Chambers USA
- Tax - New York (2025‑2010)
Crain’s New York Business
- Leading Women Lawyers in NYC (2018)
Forbes
- America’s Top Lawyers (2025)
International Tax Review
- World Tax (2010)
Law360
- Influential Women In Tax Law (2019)
- Tax MVP of the Year (2022)
- Rising Star: Tax (2014)
Lawdragon
- 500 Leading Lawyers in America (2026-2020)
- 500 Leading Dealmakers in America (2025-2021)
- 500 Leading Global Tax Lawyers (2025)
The Legal 500 Hall of Fame
- US Taxes: Non‑contentious
The Legal 500 US
- International Tax (2025‑2013, 2011)
- US Taxes: Non‑contentious (2025‑2013, 2011, 2010, 2009)
Super Lawyers - New York
- Tax (2024‑2012)
Super Lawyers - Rising Stars - New York
- Tax (2011)
Americas Women in Business Law Awards - Best in Tax, Euromoney Legal Media Group (2016)
Deals & Cases
January 05, 2026
Cable One’s $1.3 Billion Acquisition of Full Ownership of MBI
On January 5, 2026, Cable One, Inc. (“Cable One”) announced it has entered into a definitive agreement to acquire all of the equity interests in Mega Broadband Investments Holdings LLC (“MBI”) that it does not already own in a transaction valued at approximately $1.3 billion. Cable One currently owns a 45% stake in MBI, and certain affiliates of GTCR LLC and MBI management own the balance of MBI. MBI is a leading provider of broadband services across the Southeast, Northwest and Mid‑South United States and offers an extensive range of broadband, fiber connectivity, video and voice services for approximately 210,000 residential and business data customers. Based on currently available information, (i) the purchase price payable by Cable One for the 55% of MBI that it does not already own is expected to range between approximately $475 million and $495 million and (ii) MBI’s total net debt at the time it becomes wholly owned by Cable One is expected to be approximately $845 million to $895 million. Cravath is representing Cable One in connection with the transaction.
Deals & Cases
January 05, 2026
Clearwave Fiber’s Combination with Point Broadband
On January 5, 2026, Point Broadband, a provider of high‑speed fiber‑to‑the‑premise internet in small‑town and underserved markets across the United States, announced it has signed a definitive agreement to combine with Clearwave Fiber, a provider of broadband and fiber‑based services to residential and commercial customers which was formed in 2022 through a joint venture among Cable One, GTCR, The Pritzker Organization and Stephens Capital Partners. The combined company will be jointly controlled by GTCR and Berkshire Partners. Cable One, a current investor in both Point Broadband and Clearwave Fiber, will contribute its equity investment in Clearwave Fiber into the go‑forward company and remain a significant shareholder. Cravath is representing Cable One in connection with the transaction.
Deals & Cases
December 09, 2025
Paramount’s $108.4 Billion All‑Cash Tender Offer to Acquire Warner Bros. Discovery, Inc.
On December 8, 2025, Paramount, a Skydance Corporation (“Paramount”), announced it has commenced an all-cash tender offer to acquire all of the outstanding shares of Warner Bros. Discovery, Inc. (“WBD”) for $30.00 per share in cash, equating to an enterprise value of $108.4 billion. Paramount’s proposed transaction is for the entirety of WBD, including the Global Networks segment. Cravath is representing Paramount in connection with the transaction.
Deals & Cases
October 02, 2025
Occidental’s $9.7 Billion Sale of OxyChem to Berkshire Hathaway
On October 2, 2025, Occidental, an international energy company, and Berkshire Hathaway announced a definitive agreement for Berkshire Hathaway to acquire Occidental’s chemical business, OxyChem, in an all‑cash transaction for $9.7 billion, subject to customary purchase price adjustments. Cravath is representing Occidental in connection with the transaction.
Deals & Cases
August 07, 2025
Paramount Global Completes Merger with Skydance
On August 7, 2025, Paramount Global and Skydance Media (“Skydance”) announced the completion of their merger, creating a standalone global media and entertainment company, Paramount, a Skydance Corporation (“Paramount”). Paramount Class B shares will begin trading today on the Nasdaq Stock Market LLC under “PSKY.” Cravath represented the Paramount Special Committee in connection with the transaction.
Publications
September 12, 2025
IRS Publishes Guidance for Determining Beginning of Construction for Solar and Wind Projects
On September 12, 2025, Cravath prepared a memo for its clients entitled “IRS Publishes Guidance for Determining Beginning of Construction for Solar and Wind Projects.” The memo examines the Internal Revenue Service’s recently issued Notice 2025-42 (“New Guidance”), which sets forth new rules for determining “beginning of construction” for solar and wind projects seeking to claim clean electricity credits under Sections 45Y and 48E of the Internal Revenue Code.
Publications
July 07, 2025
“One Big Beautiful Bill” Enacted: Impact on Clean Energy Incentives
On July 7, 2025, Cravath prepared a memo for its clients entitled “‘One Big Beautiful Bill’ Enacted: Impact on Clean Energy Incentives.” The memo examines the implications for certain clean energy incentives resulting from the budget reconciliation legislation (H.R. 1) commonly referred to as the “One Big Beautiful Bill,” which was signed into law by the president on July 4, 2025.
Publications
May 24, 2025
House Passes One Big Beautiful Bill: Implications for Clean Energy Incentives
On May 23, 2025, Cravath prepared a memo for its clients entitled “House Passes One Big Beautiful Bill: Implications for Clean Energy Incentives.” The memo examines implications for certain clean energy incentives resulting from legislation known as the One Big Beautiful Bill, which was passed by the House of Representatives on May 22, 2025. The Bill will now be sent to the Senate and can be passed by a simple majority vote and sent to the president to be signed into law under the Senate’s “reconciliation rules”; however, the Senate is expected to propose further modifications to the clean energy-related provisions of the Bill.
Activities
May 19, 2025
Cravath Partners Named to Lawdragon’s Inaugural List of Leading Global Tax Lawyers
On May 16, 2025, Cravath partners Ron Creamer, Lauren Angelilli, J. Leonard Teti II, Christopher K. Fargo and Arvind Ravichandran were named to Lawdragon’s inaugural list of “500 Leading Global Tax Lawyers” in recognition of their work advising clients on the “tax aspects of M&A and other complex transactions.” The list highlights “outstanding leaders” who “preserve the balance between tax responsibilities and fiscal soundness on a global scale.”
Publications
April 29, 2025
IRS and Treasury Publish Final Regulations for Sections 45Y and 48E Technology‑Neutral Clean Electricity Production and Investment Tax Credits
On April 29, 2025, Cravath prepared a memo for its clients entitled “IRS and Treasury Publish Final Regulations for Sections 45Y and 48E Technology‑Neutral Clean Electricity Production and Investment Tax Credits.” The memo examines the final regulations regarding the clean electricity production credits available under Section 45Y of the Internal Revenue Code of 1986, as amended, and the clean electricity investment tax credits available under Section 48E of the Code that were published by the U.S. Department of the Treasury and the Internal Revenue Service earlier this year.
Lauren Angelilli is Head of the Tax Department. Her practice focuses on advising clients on the tax and structuring aspects of mergers and acquisitions, spin‑offs, restructurings and joint ventures, both domestically and cross‑border. Ms. Angelilli is known by clients and peers for her “extremely deep tax technical knowledge” and her “excellent job of communicating how the technical points impact a deal or business decision.”
Ms. Angelilli’s experience encompasses a wide range of matters and transaction types. She regularly advises clients in connection with:
- Significant M&A transactions, including for Anheuser-Busch InBev in its $123 billion acquisition of SABMiller; Disney in its $85 billion acquisition of 21st Century Fox; H.J. Heinz and 3G Capital in Heinz’s $60 billion merger with Kraft Foods Group; Occidental Petroleum in its $57 billion acquisition of Anadarko, topping Anadarko’s original agreement with Chevron; Paramount in its proposed $108.4 billion acquisition of Warner Bros. Discovery; and Time Warner in its $109 billion sale to AT&T
- Spin-offs, split‑offs and public listings, including for Ashland in the IPO and tax‑free separation of its Valvoline business; DreamWorks Animation in its IPO; Graham Holdings in the spin‑off of Cable One; Honeywell in the spin‑off of its Resins and Chemicals business into a new independent public company, AdvanSix; Sprint in its spin‑off of EMBARQ; Time Warner in its spin‑offs of Time Inc., AOL and Time Warner Cable and the split‑off of the Atlanta Braves to Liberty Media; White Mountains Insurance in its split‑off of certain insurance businesses to General Reinsurance; and Xerox in the spin‑off of Conduent
- Special committee and board of director matters, including for Bridge Investment Group’s special committee in the $1.5 billion acquisition by Apollo; Endeavor’s special committee in the $25 billion take‑private acquisition by Silver Lake; the special committee of the Hudson board of directors in the sale of all remaining equity interests in Hudson to Dufry; Paramount’s special committee in the $28 billion merger with Skydance; TaskUs’s special committee in the proposed $2 billion take‑private acquisition by Blackstone and the company’s co‑founders; Viacom’s board committee in the $30 billion merger with CBS; Yahoo’s board committee in the $4.48 billion acquisition of Yahoo’s operating business by Verizon; and the special committee of the board of Eidos Therapeutics in the $2.83 billion merger with BridgeBio Pharma
- Complex private equity transactions, including for the founders of Alliance Animal Health in the significant growth investment from L Catterton; Aras in its substantial growth investment from GI Partners; Atlas Air in its $5.2 billion acquisition by an investor group led by Apollo; Brookfield and its affiliates in Brookfield Reinsurance’s $4.3 billion acquisition of American Equity Investment Life and Brookfield Renewable’s $2.8 billion acquisition of Duke Energy Renewables; Cable One in the formation of Clearwave Fiber, a joint venture with GTCR, Stephens Capital Partners and The Pritzker Organization; and J.D. Power in its sale to Thoma Bravo
Ms. Angelilli has represented clients across a diverse range of industry sectors, with significant depth in technology, media and telecommunications, as well as biotechnology and life sciences. Notable matters include representing:
Technology
- Afterpay in its $29 billion acquisition by Block
- J.D. Power in its sale to Thoma Bravo
- Pitney Bowes in the $700 million sale of its Software Solutions business to Syncsort, its $475 million acquisition of Newgistics and its $395 million acquisition of Borderfree
- TaskUs’s special committee in the proposed $2 billion take-private acquisition by Blackstone and the company’s co‑founders
- Technicolor in the $475 million sale of its Patent Licensing business to InterDigital
- Wiz in its pending $32 billion acquisition by Google
- Xerox in the $1.05 billion sale of its information technology outsourcing business to Atos and the spin‑off of Conduent
- Yahoo’s board committee in the $4.48 billion acquisition of Yahoo’s operating business by Verizon
Media and Entertainment
- Amblin Partners in the exit of Participant as an equity holder and NBCUniversal’s re‑investment; its strategic partnership with Alibaba Pictures; and, together with Steven Spielberg, in its formation with Participant Media, Reliance Entertainment and Entertainment One
- Disney in its $85 billion acquisition of 21st Century Fox, overcoming an interloper bid by Comcast to its original $66 billion agreement; the $10.6 billion sale of the Fox Regional Sports Networks to Sinclair; the $3.47 billion sale of its interest in the YES Network to an investor group including the Yankees and Sinclair; ESPN’s pending acquisition of NFL Network and other media assets from the NFL in exchange for a 10% equity stake in ESPN; the combination of its Hulu + Live TV business with Fubo; ESPN’s proposed joint venture with Fox and Warner Bros. Discovery to launch Venu Sports; ESPN’s strategic alliance with PENN Entertainment to launch ESPN BET; Endemol Shine’s acquisition by Banijay Group; the sale of FoxNext Games to Scopely; and the sale of a majority stake in Fox TeleColombia & Estudios TeleMexico to ViacomCBS
- DreamWorks Animation in a number of matters, including its IPO, the formation of Oriental DreamWorks and its $4.1 billion sale to Comcast
- Endeavor’s special committee in the $25 billion take‑private acquisition by Silver Lake
- Paramount in its proposed $108.4 billion acquisition of Warner Bros. Discovery
- Paramount’s special committee in the $28 billion merger with Skydance
- Quibi in its $750 million Series C private financing, the sale of its global content distribution rights to Roku and its out‑of‑court wind‑down process
- Time Warner in its $109 billion sale to AT&T; its investment in Hulu; and its spin-offs of Time Inc., AOL and Time Warner Cable and the split‑off of the Atlanta Braves to Liberty Media
- Viacom’s board committee in the $30 billion merger with CBS
Telecommunications
- Bharti in the acquisition of, and $1 billion investment in, OneWeb by a consortium led by Bharti and Her Majesty’s Government
- Cable One in in its pending $1.3 billion acquisition of full ownership of Mega Broadband and its previous strategic partnership with Mega Broadband, a joint venture with GTCR; the formation of Clearwave Fiber, a joint venture with GTCR, Stephens Capital Partners and The Pritzker Organization, and Clearwave Fiber’s pending combination with Point Broadband; its $2.2 billion acquisition of Hargray Communications; its $735 million acquisition of NewWave Communications; its $525.9 million acquisition of Fidelity Communications’ data, video and voice business; and its acquisition of Clearwave Communications
- EMBARQ in its acquisition by CenturyTel
- Graham Holdings in the spin‑off of Cable One
- Sprint in its merger with Nextel Communications and later spin-off of EMBARQ
Biotechnology, Life Sciences and Healthcare
- AmerisourceBergen in its $6.5 billion acquisition of Walgreens’ Alliance Healthcare businesses and its strategic relationship with Walgreens and Alliance Boots
- AveXis in its $8.7 billion acquisition by Novartis
- Biogen in its $7.3 billion acquisition of Reata Pharmaceuticals
- Cano Health shareholders, including members of management, in the $4.4 billion SPAC merger with Jaws Acquisition Corp., which included an $800 million PIPE investment
- The special committee of the board of Eidos Therapeutics in the $2.83 billion merger with BridgeBio Pharma
- Global Blood Therapeutics in its $5.4 billion acquisition by Pfizer
- HCSC in its $3.3 billion acquisition of Cigna’s Medicare businesses and CareAllies
- Shire in its $32 billion combination with Baxalta
- Thermo Fisher Scientific in its $20.9 billion acquisition of PPD and its $3.1 billion acquisition of Olink
Financial Services and Insurance
- Aon in its $13 billion acquisition of NFP
- Bridge Investment Group’s special committee in the $1.5 billion acquisition by Apollo
- Brookfield Reinsurance in its $4.3 billion acquisition of American Equity Investment Life
Consumer and Retail
- Anheuser-Busch InBev in its $123 billion acquisition of SABMiller and the $12 billion sale of SABMiller’s U.S. and global Miller‑branded businesses to Molson Coors
- Bacardi in its acquisition of ILEGAL Mezcal
- H.J. Heinz and 3G Capital in Heinz’s $60 billion merger with Kraft Foods Group to form The Kraft Heinz Company
- The special committee of the Hudson board of directors in the sale of all remaining equity interests in Hudson to Dufry
- Starbucks in its acquisition of Teavana, its commercial arrangement with Oprah Winfrey and its investment in Square
- Starwood Hotels in its $13.3 billion sale to Marriott International
- Unilever in its acquisition of a majority stake in Nutrafol
Energy, Infrastructure and Industrials
- Altra in its $5 billion acquisition by Regal Rexnord, the $3 billion “Reverse Morris Trust” combination with Fortive’s Automation and Specialty platform and the $325 million sale of its Jacobs Vehicle Systems business to Cummins
- The Aquarion Water Authority in its pending $2.4 billion acquisition of Aquarion Water Company from Eversource Energy
- Ashland in the $1.8 billion sale of Ashland Water Technologies to Clayton, Dubilier & Rice, the $1.65 billion sale of its performance adhesives business to Arkema, its $660 million acquisition of Pharmachem, the IPO and tax‑free separation of its Valvoline business and the sale of its nutraceuticals business to Turnspire Capital Partners
- Brookfield Renewable in its $2.8 billion acquisition of Duke Energy Renewables
- Honeywell in its proposed $90 billion acquisition of United Technologies, the $300 million sale of Honeywell Technology Solutions and the spin‑off of its Resins and Chemicals business into a new independent public company, AdvanSix
- Occidental Petroleum in its $57 billion acquisition of Anadarko, topping Anadarko’s original agreement with Chevron; the $10 billion investment by Berkshire Hathaway; the $8.8 billion sale of Anadarko’s African assets to Total; and the $9.7 billion sale of OxyChem to Berkshire Hathaway
- RWE in its $6.8 billion acquisition of the Con Edison Clean Energy Businesses
Transportation
- Atlas Air in its $5.2 billion acquisition by an investor group led by Apollo
- Canadian National Railway in its proposed $33.6 billion combination with Kansas City Southern
- Delta Air Lines in its acquisition of 49% of Virgin Atlantic from Singapore Airlines and in Delta’s related trans‑Atlantic joint venture with Virgin
- UAL in its merger of equals with Continental Airlines, creating United Continental Holdings
Ms. Angelilli has been repeatedly cited as a leading tax practitioner by, among others, Chambers USA, The Legal 500 US and The Best Lawyers in America. She has been named a “Tax MVP” and was selected to the “Influential Women in Tax Law” list by Law360. Ms. Angelilli has also been named to the list of “Leading Women Lawyers in New York City” by Crain’s New York Business and was named “Best in Tax” by Euromoney Legal Media Group’s Americas Women in Business Law Awards. Additionally, Ms. Angelilli has been recognized by Forbes as among “America’s Top Lawyers” and by Lawdragon as among the “500 Leading Lawyers in America,” the “500 Leading Dealmakers in America” and the “500 Leading Global Tax Lawyers.”
Ms. Angelilli was born in New York, New York. She received a B.S. magna cum laude from the Wharton School of the University of Pennsylvania in 1996 and a J.D. cum laude from Harvard Law School in 2000.
Ms. Angelilli joined Cravath in 2000 and was elected a partner in 2007.
Ms. Angelilli’s experience encompasses a wide range of matters and transaction types. She regularly advises clients in connection with:
- Significant M&A transactions, including for Anheuser-Busch InBev in its $123 billion acquisition of SABMiller; Disney in its $85 billion acquisition of 21st Century Fox; H.J. Heinz and 3G Capital in Heinz’s $60 billion merger with Kraft Foods Group; Occidental Petroleum in its $57 billion acquisition of Anadarko, topping Anadarko’s original agreement with Chevron; Paramount in its proposed $108.4 billion acquisition of Warner Bros. Discovery; and Time Warner in its $109 billion sale to AT&T
- Spin-offs, split‑offs and public listings, including for Ashland in the IPO and tax‑free separation of its Valvoline business; DreamWorks Animation in its IPO; Graham Holdings in the spin‑off of Cable One; Honeywell in the spin‑off of its Resins and Chemicals business into a new independent public company, AdvanSix; Sprint in its spin‑off of EMBARQ; Time Warner in its spin‑offs of Time Inc., AOL and Time Warner Cable and the split‑off of the Atlanta Braves to Liberty Media; White Mountains Insurance in its split‑off of certain insurance businesses to General Reinsurance; and Xerox in the spin‑off of Conduent
- Special committee and board of director matters, including for Bridge Investment Group’s special committee in the $1.5 billion acquisition by Apollo; Endeavor’s special committee in the $25 billion take‑private acquisition by Silver Lake; the special committee of the Hudson board of directors in the sale of all remaining equity interests in Hudson to Dufry; Paramount’s special committee in the $28 billion merger with Skydance; TaskUs’s special committee in the proposed $2 billion take‑private acquisition by Blackstone and the company’s co‑founders; Viacom’s board committee in the $30 billion merger with CBS; Yahoo’s board committee in the $4.48 billion acquisition of Yahoo’s operating business by Verizon; and the special committee of the board of Eidos Therapeutics in the $2.83 billion merger with BridgeBio Pharma
- Complex private equity transactions, including for the founders of Alliance Animal Health in the significant growth investment from L Catterton; Aras in its substantial growth investment from GI Partners; Atlas Air in its $5.2 billion acquisition by an investor group led by Apollo; Brookfield and its affiliates in Brookfield Reinsurance’s $4.3 billion acquisition of American Equity Investment Life and Brookfield Renewable’s $2.8 billion acquisition of Duke Energy Renewables; Cable One in the formation of Clearwave Fiber, a joint venture with GTCR, Stephens Capital Partners and The Pritzker Organization; and J.D. Power in its sale to Thoma Bravo
Ms. Angelilli has represented clients across a diverse range of industry sectors, with significant depth in technology, media and telecommunications, as well as biotechnology and life sciences. Notable matters include representing:
Technology
- Afterpay in its $29 billion acquisition by Block
- J.D. Power in its sale to Thoma Bravo
- Pitney Bowes in the $700 million sale of its Software Solutions business to Syncsort, its $475 million acquisition of Newgistics and its $395 million acquisition of Borderfree
- TaskUs’s special committee in the proposed $2 billion take-private acquisition by Blackstone and the company’s co‑founders
- Technicolor in the $475 million sale of its Patent Licensing business to InterDigital
- Wiz in its pending $32 billion acquisition by Google
- Xerox in the $1.05 billion sale of its information technology outsourcing business to Atos and the spin‑off of Conduent
- Yahoo’s board committee in the $4.48 billion acquisition of Yahoo’s operating business by Verizon
Media and Entertainment
- Amblin Partners in the exit of Participant as an equity holder and NBCUniversal’s re‑investment; its strategic partnership with Alibaba Pictures; and, together with Steven Spielberg, in its formation with Participant Media, Reliance Entertainment and Entertainment One
- Disney in its $85 billion acquisition of 21st Century Fox, overcoming an interloper bid by Comcast to its original $66 billion agreement; the $10.6 billion sale of the Fox Regional Sports Networks to Sinclair; the $3.47 billion sale of its interest in the YES Network to an investor group including the Yankees and Sinclair; ESPN’s pending acquisition of NFL Network and other media assets from the NFL in exchange for a 10% equity stake in ESPN; the combination of its Hulu + Live TV business with Fubo; ESPN’s proposed joint venture with Fox and Warner Bros. Discovery to launch Venu Sports; ESPN’s strategic alliance with PENN Entertainment to launch ESPN BET; Endemol Shine’s acquisition by Banijay Group; the sale of FoxNext Games to Scopely; and the sale of a majority stake in Fox TeleColombia & Estudios TeleMexico to ViacomCBS
- DreamWorks Animation in a number of matters, including its IPO, the formation of Oriental DreamWorks and its $4.1 billion sale to Comcast
- Endeavor’s special committee in the $25 billion take‑private acquisition by Silver Lake
- Paramount in its proposed $108.4 billion acquisition of Warner Bros. Discovery
- Paramount’s special committee in the $28 billion merger with Skydance
- Quibi in its $750 million Series C private financing, the sale of its global content distribution rights to Roku and its out‑of‑court wind‑down process
- Time Warner in its $109 billion sale to AT&T; its investment in Hulu; and its spin-offs of Time Inc., AOL and Time Warner Cable and the split‑off of the Atlanta Braves to Liberty Media
- Viacom’s board committee in the $30 billion merger with CBS
Telecommunications
- Bharti in the acquisition of, and $1 billion investment in, OneWeb by a consortium led by Bharti and Her Majesty’s Government
- Cable One in in its pending $1.3 billion acquisition of full ownership of Mega Broadband and its previous strategic partnership with Mega Broadband, a joint venture with GTCR; the formation of Clearwave Fiber, a joint venture with GTCR, Stephens Capital Partners and The Pritzker Organization, and Clearwave Fiber’s pending combination with Point Broadband; its $2.2 billion acquisition of Hargray Communications; its $735 million acquisition of NewWave Communications; its $525.9 million acquisition of Fidelity Communications’ data, video and voice business; and its acquisition of Clearwave Communications
- EMBARQ in its acquisition by CenturyTel
- Graham Holdings in the spin‑off of Cable One
- Sprint in its merger with Nextel Communications and later spin-off of EMBARQ
Biotechnology, Life Sciences and Healthcare
- AmerisourceBergen in its $6.5 billion acquisition of Walgreens’ Alliance Healthcare businesses and its strategic relationship with Walgreens and Alliance Boots
- AveXis in its $8.7 billion acquisition by Novartis
- Biogen in its $7.3 billion acquisition of Reata Pharmaceuticals
- Cano Health shareholders, including members of management, in the $4.4 billion SPAC merger with Jaws Acquisition Corp., which included an $800 million PIPE investment
- The special committee of the board of Eidos Therapeutics in the $2.83 billion merger with BridgeBio Pharma
- Global Blood Therapeutics in its $5.4 billion acquisition by Pfizer
- HCSC in its $3.3 billion acquisition of Cigna’s Medicare businesses and CareAllies
- Shire in its $32 billion combination with Baxalta
- Thermo Fisher Scientific in its $20.9 billion acquisition of PPD and its $3.1 billion acquisition of Olink
Financial Services and Insurance
- Aon in its $13 billion acquisition of NFP
- Bridge Investment Group’s special committee in the $1.5 billion acquisition by Apollo
- Brookfield Reinsurance in its $4.3 billion acquisition of American Equity Investment Life
Consumer and Retail
- Anheuser-Busch InBev in its $123 billion acquisition of SABMiller and the $12 billion sale of SABMiller’s U.S. and global Miller‑branded businesses to Molson Coors
- Bacardi in its acquisition of ILEGAL Mezcal
- H.J. Heinz and 3G Capital in Heinz’s $60 billion merger with Kraft Foods Group to form The Kraft Heinz Company
- The special committee of the Hudson board of directors in the sale of all remaining equity interests in Hudson to Dufry
- Starbucks in its acquisition of Teavana, its commercial arrangement with Oprah Winfrey and its investment in Square
- Starwood Hotels in its $13.3 billion sale to Marriott International
- Unilever in its acquisition of a majority stake in Nutrafol
Energy, Infrastructure and Industrials
- Altra in its $5 billion acquisition by Regal Rexnord, the $3 billion “Reverse Morris Trust” combination with Fortive’s Automation and Specialty platform and the $325 million sale of its Jacobs Vehicle Systems business to Cummins
- The Aquarion Water Authority in its pending $2.4 billion acquisition of Aquarion Water Company from Eversource Energy
- Ashland in the $1.8 billion sale of Ashland Water Technologies to Clayton, Dubilier & Rice, the $1.65 billion sale of its performance adhesives business to Arkema, its $660 million acquisition of Pharmachem, the IPO and tax‑free separation of its Valvoline business and the sale of its nutraceuticals business to Turnspire Capital Partners
- Brookfield Renewable in its $2.8 billion acquisition of Duke Energy Renewables
- Honeywell in its proposed $90 billion acquisition of United Technologies, the $300 million sale of Honeywell Technology Solutions and the spin‑off of its Resins and Chemicals business into a new independent public company, AdvanSix
- Occidental Petroleum in its $57 billion acquisition of Anadarko, topping Anadarko’s original agreement with Chevron; the $10 billion investment by Berkshire Hathaway; the $8.8 billion sale of Anadarko’s African assets to Total; and the $9.7 billion sale of OxyChem to Berkshire Hathaway
- RWE in its $6.8 billion acquisition of the Con Edison Clean Energy Businesses
Transportation
- Atlas Air in its $5.2 billion acquisition by an investor group led by Apollo
- Canadian National Railway in its proposed $33.6 billion combination with Kansas City Southern
- Delta Air Lines in its acquisition of 49% of Virgin Atlantic from Singapore Airlines and in Delta’s related trans‑Atlantic joint venture with Virgin
- UAL in its merger of equals with Continental Airlines, creating United Continental Holdings
Ms. Angelilli has been repeatedly cited as a leading tax practitioner by, among others, Chambers USA, The Legal 500 US and The Best Lawyers in America. She has been named a “Tax MVP” and was selected to the “Influential Women in Tax Law” list by Law360. Ms. Angelilli has also been named to the list of “Leading Women Lawyers in New York City” by Crain’s New York Business and was named “Best in Tax” by Euromoney Legal Media Group’s Americas Women in Business Law Awards. Additionally, Ms. Angelilli has been recognized by Forbes as among “America’s Top Lawyers” and by Lawdragon as among the “500 Leading Lawyers in America,” the “500 Leading Dealmakers in America” and the “500 Leading Global Tax Lawyers.”
Ms. Angelilli was born in New York, New York. She received a B.S. magna cum laude from the Wharton School of the University of Pennsylvania in 1996 and a J.D. cum laude from Harvard Law School in 2000.
Ms. Angelilli joined Cravath in 2000 and was elected a partner in 2007.
Education
-
J.D., 2000, Harvard Law Schoolcum laude
-
B.S., 1996, The Wharton School of the University of Pennsylvaniamagna cum laude
Admitted In
- New York
Rankings
Best Lawyers in America
- Tax Law (2026‑2013)
Chambers USA
- Tax - New York (2025‑2010)
Crain’s New York Business
- Leading Women Lawyers in NYC (2018)
Forbes
- America’s Top Lawyers (2025)
International Tax Review
- World Tax (2010)
Law360
- Influential Women In Tax Law (2019)
- Tax MVP of the Year (2022)
- Rising Star: Tax (2014)
Lawdragon
- 500 Leading Lawyers in America (2026-2020)
- 500 Leading Dealmakers in America (2025-2021)
- 500 Leading Global Tax Lawyers (2025)
The Legal 500 Hall of Fame
- US Taxes: Non‑contentious
The Legal 500 US
- International Tax (2025‑2013, 2011)
- US Taxes: Non‑contentious (2025‑2013, 2011, 2010, 2009)
Super Lawyers - New York
- Tax (2024‑2012)
Super Lawyers - Rising Stars - New York
- Tax (2011)
Americas Women in Business Law Awards - Best in Tax, Euromoney Legal Media Group (2016)
Deals & Cases
January 05, 2026
Cable One’s $1.3 Billion Acquisition of Full Ownership of MBI
On January 5, 2026, Cable One, Inc. (“Cable One”) announced it has entered into a definitive agreement to acquire all of the equity interests in Mega Broadband Investments Holdings LLC (“MBI”) that it does not already own in a transaction valued at approximately $1.3 billion. Cable One currently owns a 45% stake in MBI, and certain affiliates of GTCR LLC and MBI management own the balance of MBI. MBI is a leading provider of broadband services across the Southeast, Northwest and Mid‑South United States and offers an extensive range of broadband, fiber connectivity, video and voice services for approximately 210,000 residential and business data customers. Based on currently available information, (i) the purchase price payable by Cable One for the 55% of MBI that it does not already own is expected to range between approximately $475 million and $495 million and (ii) MBI’s total net debt at the time it becomes wholly owned by Cable One is expected to be approximately $845 million to $895 million. Cravath is representing Cable One in connection with the transaction.
Deals & Cases
January 05, 2026
Clearwave Fiber’s Combination with Point Broadband
On January 5, 2026, Point Broadband, a provider of high‑speed fiber‑to‑the‑premise internet in small‑town and underserved markets across the United States, announced it has signed a definitive agreement to combine with Clearwave Fiber, a provider of broadband and fiber‑based services to residential and commercial customers which was formed in 2022 through a joint venture among Cable One, GTCR, The Pritzker Organization and Stephens Capital Partners. The combined company will be jointly controlled by GTCR and Berkshire Partners. Cable One, a current investor in both Point Broadband and Clearwave Fiber, will contribute its equity investment in Clearwave Fiber into the go‑forward company and remain a significant shareholder. Cravath is representing Cable One in connection with the transaction.
Deals & Cases
December 09, 2025
Paramount’s $108.4 Billion All‑Cash Tender Offer to Acquire Warner Bros. Discovery, Inc.
On December 8, 2025, Paramount, a Skydance Corporation (“Paramount”), announced it has commenced an all-cash tender offer to acquire all of the outstanding shares of Warner Bros. Discovery, Inc. (“WBD”) for $30.00 per share in cash, equating to an enterprise value of $108.4 billion. Paramount’s proposed transaction is for the entirety of WBD, including the Global Networks segment. Cravath is representing Paramount in connection with the transaction.
Deals & Cases
October 02, 2025
Occidental’s $9.7 Billion Sale of OxyChem to Berkshire Hathaway
On October 2, 2025, Occidental, an international energy company, and Berkshire Hathaway announced a definitive agreement for Berkshire Hathaway to acquire Occidental’s chemical business, OxyChem, in an all‑cash transaction for $9.7 billion, subject to customary purchase price adjustments. Cravath is representing Occidental in connection with the transaction.
Deals & Cases
August 07, 2025
Paramount Global Completes Merger with Skydance
On August 7, 2025, Paramount Global and Skydance Media (“Skydance”) announced the completion of their merger, creating a standalone global media and entertainment company, Paramount, a Skydance Corporation (“Paramount”). Paramount Class B shares will begin trading today on the Nasdaq Stock Market LLC under “PSKY.” Cravath represented the Paramount Special Committee in connection with the transaction.
Publications
September 12, 2025
IRS Publishes Guidance for Determining Beginning of Construction for Solar and Wind Projects
On September 12, 2025, Cravath prepared a memo for its clients entitled “IRS Publishes Guidance for Determining Beginning of Construction for Solar and Wind Projects.” The memo examines the Internal Revenue Service’s recently issued Notice 2025-42 (“New Guidance”), which sets forth new rules for determining “beginning of construction” for solar and wind projects seeking to claim clean electricity credits under Sections 45Y and 48E of the Internal Revenue Code.
Publications
July 07, 2025
“One Big Beautiful Bill” Enacted: Impact on Clean Energy Incentives
On July 7, 2025, Cravath prepared a memo for its clients entitled “‘One Big Beautiful Bill’ Enacted: Impact on Clean Energy Incentives.” The memo examines the implications for certain clean energy incentives resulting from the budget reconciliation legislation (H.R. 1) commonly referred to as the “One Big Beautiful Bill,” which was signed into law by the president on July 4, 2025.
Publications
May 24, 2025
House Passes One Big Beautiful Bill: Implications for Clean Energy Incentives
On May 23, 2025, Cravath prepared a memo for its clients entitled “House Passes One Big Beautiful Bill: Implications for Clean Energy Incentives.” The memo examines implications for certain clean energy incentives resulting from legislation known as the One Big Beautiful Bill, which was passed by the House of Representatives on May 22, 2025. The Bill will now be sent to the Senate and can be passed by a simple majority vote and sent to the president to be signed into law under the Senate’s “reconciliation rules”; however, the Senate is expected to propose further modifications to the clean energy-related provisions of the Bill.
Activities
May 19, 2025
Cravath Partners Named to Lawdragon’s Inaugural List of Leading Global Tax Lawyers
On May 16, 2025, Cravath partners Ron Creamer, Lauren Angelilli, J. Leonard Teti II, Christopher K. Fargo and Arvind Ravichandran were named to Lawdragon’s inaugural list of “500 Leading Global Tax Lawyers” in recognition of their work advising clients on the “tax aspects of M&A and other complex transactions.” The list highlights “outstanding leaders” who “preserve the balance between tax responsibilities and fiscal soundness on a global scale.”
Publications
April 29, 2025
IRS and Treasury Publish Final Regulations for Sections 45Y and 48E Technology‑Neutral Clean Electricity Production and Investment Tax Credits
On April 29, 2025, Cravath prepared a memo for its clients entitled “IRS and Treasury Publish Final Regulations for Sections 45Y and 48E Technology‑Neutral Clean Electricity Production and Investment Tax Credits.” The memo examines the final regulations regarding the clean electricity production credits available under Section 45Y of the Internal Revenue Code of 1986, as amended, and the clean electricity investment tax credits available under Section 48E of the Code that were published by the U.S. Department of the Treasury and the Internal Revenue Service earlier this year.
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