Cravath’s London Office Moves to 100 Cheapside
July 15, 2014
On July 15, 2014, British American Tobacco (“BAT”) announced that it has agreed to invest approximately US$4.7 billion as part of Reynolds American’s proposed acquisition of Lorillard, enabling BAT to maintain its 42% ownership in Reynolds American following the acquisition. The boards of both Reynolds American, an associate company of BAT, and Lorillard have announced the proposed purchase of Lorillard by Reynolds American for approximately US$27.4 billion, including the assumption of net debt, equivalent to US$68.88 per Lorillard share. Reynolds American also announced that it has reached an agreement with Imperial Tobacco under which Imperial has agreed to purchase the KOOL, Salem, Winston, Maverick and blu eCigs brands and other assets and liabilities for a total consideration of approximately $7.1 billion in cash.
Cravath represented BAT, which participated actively in all the negotiations in connection with these transactions. The completion of the transactions is subject to receipt of shareholder and regulatory approvals and satisfaction of other customary closing conditions.
The Cravath team was led by partners Philip A. Gelston and Ting S. Chen and included associates Amanda R. Fenster and Wenying Zhang on M&A matters; partner Michael L. Schler on tax matters; and partner Christine A. Varney and associate Katherine A. Rocco on antitrust matters. Summer associates Kayla K. Strong and Claudia J. Ricciardi also worked on M&A matters.
Deals & Cases
September 30, 2025
On September 30, 2025, Future Standard, a global alternative asset manager, announced it has entered into an agreement to acquire the Digital Infrastructure platform of Post Road Group, an alternative investment advisory firm. The platform specializes in credit and structured equity investments across digital infrastructure assets, including data centers, fiber networks and cloud connectivity. Cravath is representing Future Standard in connection with the transaction.
Deals & Cases
September 22, 2025
On September 22, 2025, Premier, Inc. (“Premier”), a leading technology‑driven health care improvement company, announced that it has entered into a definitive agreement to be acquired by an affiliate of Patient Square Capital (“Patient Square”) in a transaction valued at $2.6 billion. Under the terms of the agreement, which has been unanimously approved by Premier’s Board of Directors, Premier stockholders will receive $28.25 in cash per share. Cravath is representing the Transaction Committee of Premier’s Board of Directors in connection with the transaction.
Deals & Cases
August 15, 2025
On August 14, 2025, Fitch Learning, a global leader in financial learning and professional certifications, announced it signed an agreement with Moody’s to acquire two of their businesses, Moody’s Analytics Learning Solutions, a global provider of credit training, and the Canadian Securities Institute, a leading provider of professional certifications for the Canadian financial services industry. Cravath is representing Fitch Learning in connection with the transaction.
Deals & Cases
August 11, 2025
On August 10, 2025, International Money Express, Inc. (“Intermex”) and The Western Union Company (“Western Union”) announced they have entered into a definitive agreement under which Western Union will acquire Intermex in an all‑cash transaction at $16.00 per share, representing a total equity and enterprise value of approximately $500 million. Cravath is representing Intermex’s Strategic Alternatives Committee in connection with the transaction.
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