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J. Leonard Teti II

Partner, Tax

J. Leonard Teti II advises on the tax aspects of mergers and acquisitions, spin‑offs, private equity transactions and bank financings. Clients seek out Mr. Teti for his ability to provide practical, clear and commercial advice on the tax issues central to complex domestic and cross‑border transactions. He also advises clients during the course of audits by the Internal Revenue Service and other tax authorities.

Mr. Teti’s clients have included Alliant Techsystems, AmerisourceBergen, Associated Partners, Avon, Barnes & Noble, Credit Suisse, Dentsu Aegis, FS Investments, IBM, Johnson & Johnson, The Jones Group, JPMorgan Chase, The Linde Group, Lindsay Goldberg, Mylan, Novartis, Pinnacle Foods, RELX Group, Scientific Games, Time Warner, Vista Outdoor and WestRock.

Mr. Teti’s recent transactions include representing:

  • AmerisourceBergen in its $815 million acquisition of H. D. Smith, its $2.575 billion acquisition of PharMEDium and its $2.5 billion acquisition of MWI Veterinary Supply;
  • Avon in its $3.7 billion acquisition by Natura and the sale of 80% of its North America business to Cerberus Capital Management and in the PIPE investment by Cerberus in Avon’s international business;
  • Barnes & Noble in its spin‑off of Barnes & Noble Education, the parent of Barnes & Noble College, and in its strategic partnership with Microsoft Corporation and Pearson in NOOK Media, a Barnes & Noble subsidiary that develops and markets NOOK eReader devices and related content;
  • Dentsu Aegis in its acquisition of Merkle;
  • FS Investments in the transition of the management of its business development company (BDC) platform to investment advisory partnerships with EIG Global Energy Partners and KKR;
  • IBM in acquisitions and dispositions aggregating more than $11.2 billion in value, including the sale of select IBM software products to HCL Technologies, its collaboration agreement with Maersk, its acquisitions of Armanta, Promontory, Bluewolf, Resilient Systems, Truven Health Analytics, Ustream, the product and technology businesses of The Weather Company, StrongLoop, Merge Healthcare, Compose, Lighthouse Security, Silverpop, Trusteer, Kenexa, Texas Memory Systems, Vivisimo, DemandTec, Emptoris, Green Hat, Q1 Labs, TRIRIGA and OpenPages and the sales of its x86 server business to Lenovo, worldwide customer care business process outsourcing services business to SYNNEX and Retail Store Solutions business to Toshiba;
  • Johnson & Johnson in its $3.4 billion acquisition of Auris Health, its ¥230 billion acquisition of Ci:z Holdings, the $2.8 billion sale of its Advanced Sterilization Products business to Fortive, the $2.1 billion sale of its LifeScan business to Platinum Equity, its $30 billion acquisition of Actelion, the $1.045 billion sale of its Codman Neurosurgery business to Integra LifeSciences, its $4.325 billion acquisition of Abbott Medical Optics, its $19.7 billion acquisition of Synthes, its acquisition of Novira Therapeutics and its acquisition of Covagen;
  • JPMorgan Chase in its role as administrative agent on numerous credit facilities;
  • Linde in its $70 billion merger of equals with Praxair;
  • Lindsay Goldberg and its portfolio companies in multiple transactions;
  • Mylan in its pending $50 billion combination with Upjohn, a division of Pfizer, its $9.9 billion acquisition of Meda, its acquisition of the non‑sterile, topicals‑focused specialty and generics business of Renaissance Acquisition Holdings for $950 million in cash at closing plus additional contingent payments of up to $50 million, its proposal to acquire Perrigo in a transaction valued at approximately $35 billion and its $5.6 billion inversion acquisition of Abbott Laboratories’ non‑U.S. developed markets specialty and branded generics business;
  • Novartis in its $29.8 billion spin-off of Alcon and its $2.1 billion acquisition of Endocyte;
  • RELX Group in its acquisition of Emailage, its $375 million acquisition of ID Analytics, its acquisition of Aries Systems, its acquisition of Safe Banking Systems, its £580 million acquisition of ThreatMetrix, its acquisition of bepress and LexisNexis Legal & Professional’s joint ventures with Knowable and LEAP Legal Software;
  • Scientific Games in its $363.5 million carve-out IPO of SciPlay and its acquisitions of Don Best Sports, NYX Gaming Group and Spicerack Media; and
  • WestRock in its $4.9 billion acquisition of KapStone and its $2.3 billion acquisition of Multi Packaging Solutions.

Mr. Teti has been repeatedly recognized for his work in the tax arena by Chambers USA, The Legal 500 US and Super Lawyers. In 2016, he was named a “Rising Star” by Law360, recognizing him as one of five outstanding tax lawyers in the nation under the age of 40.

Mr. Teti authored “The World Turned Upside Down: Understanding Corporate Inversions,” which was published in the September 2014 issue of Expert Guide – Tax 2014. He also co‑authored “FATCA, IGAs and loan agreements,” which was published in the November 2, 2012 issue of the Tax Journal. Mr. Teti is a member of the International Bar Association. He serves as the President of the Board of Trustees of the New Jersey Scholars Program and is a member of the Alumni Council of the University of Virginia School of Law.

Mr. Teti was born in Trenton, New Jersey. He received an A.B. with honors in 1999 from Princeton University and a J.D. in 2005 from the University of Virginia School of Law, where he was a member of the Virginia Law Review, an Executive Editor of the Virginia Tax Review and elected to the Order of the Coif. At Virginia, he was also awarded the Edwin S. Cohen Tax Prize and the Robert E. Goldsten Award for Distinction in the Classroom.

Mr. Teti joined Cravath in 2005 and was elected a partner in 2012.

Mr. Teti is admitted only in New York.

+1 (212) 474-1896
+1 (212) 474-3700