Cravath’s London Office Moves to 100 Cheapside
On November 3, 2014, Laboratory Corporation of America® Holdings (LabCorp®) and Covance Inc. announced that they have entered into a definitive agreement under which LabCorp will acquire Covance for cash and LabCorp shares currently valued at $105.12 per Covance share, or an equity value of approximately $6.1 billion. Cravath represented Covance in this transaction. The combination will create the world’s leading healthcare diagnostics company. The transaction is expected to close in the first quarter of 2015 and is subject to Covance shareholder approval, regulatory approvals and customary closing conditions.
The Cravath team was led by partner Richard Hall and included associates Stephanie L. Alexis, Nicholas A. Dorsey and Feihong Xu on M&A matters; partner George E. Zobitz on finance matters; partner Eric W. Hilfers and associates Jonathan J. Katz, Matthew Cantor and Julia L. Onorato on executive compensation and benefits matters; and partner Michael L. Schler and associate Ashley N. Elnicki on tax matters. Maria Rita Sobral and Andrew T. Murphy also worked on M&A matters.
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.
Deals & Cases
May 28, 2025
On May 28, 2025, rhode, a fast‑growing, multi‑category lifestyle beauty brand founded by Hailey Bieber, and e.l.f. Beauty announced they have signed a definitive agreement for e.l.f. Beauty to acquire rhode. The $1 billion deal is comprised of $800 million of consideration payable at closing in a combination of cash and stock, subject to customary adjustments, and an additional potential earnout consideration of $200 million based on the future growth of the brand over a three‑year timeframe. Hailey Bieber will continue her role as Founder and additionally serve as rhode’s Chief Creative Officer and Head of Innovation, overseeing creative, product innovation and marketing. She will also act as a Strategic Advisor to the combined companies. Cravath is representing Hailey Bieber in connection with the transaction.
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