Cravath’s London Office Moves to 100 Cheapside
October 28, 2014
On October 27, 2014, Chiquita Brands International Inc. (“Chiquita”) and the Cutrale Group and the Safra Group announced a definitive merger agreement under which Cutrale‑Safra has agreed to acquire all the outstanding common shares of Chiquita for $14.50 per share in cash, or a total value of approximately $1.3 billion, including the assumption of Chiquita’s net debt. Cravath represented the Cutrale Group and the Safra Group in this transaction, which has been unanimously approved by the Chiquita Board of Directors and is expected to close by the end of the year or early 2015, subject to the satisfaction of customary closing conditions and regulatory approvals. Upon closing of the transaction, Chiquita will become a wholly owned subsidiary of Cutrale‑Safra and remain incorporated in New Jersey.
This definitive merger agreement follows a successful proxy solicitation by Cutrale‑Safra against the business combination transaction Chiquita entered into with Fyffes in March 2014. On August 11, Cutrale‑Safra proposed to acquire all of the outstanding stock of Chiquita at a price of $13.00 per share in cash to Chiquita shareholders. On August 28, Cutrale‑Safra began soliciting proxies against the Chiquita‑Fyffes transaction. On October 15, Cutrale‑Safra increased its offer to $14.00 per share in cash and on October 23 it increased its offer to $14.50 per share in cash. The following day, Chiquita announced that its shareholders had voted down the Fyffes transaction, and Chiquita and Fyffes terminated the Chiquita‑Fyffes transaction agreement.
The Cravath team was led by partners Richard Hall and Andrew R. Thompson and included associates Bomi Lee and Matthias M. Pitkowitz on M&A matters; partner James C. Vardell III and senior attorney Kimberly A. Grousset on banking matters; partner Christopher K. Fargo on tax matters; partner Eric W. Hilfers and associates Jonathan J. Katz and Julia L. Onorato on executive compensation and benefits matters; senior attorney Annmarie M. Terraciano on environmental matters; partner David J. Kappos and associate Nicholas A. Jackson on intellectual property matters; partner John D. Buretta and associates Megan Y. Lew and Owen J.M. Roth on regulatory matters; and practice area attorney Robin C. Landis on antitrust matters. Lee M. Blum also worked on M&A matters.
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.
Deals & Cases
May 26, 2025
On May 25, 2025, WiseTech Global, developer of leading logistics execution software CargoWise, announced it has entered into a binding agreement to acquire E2open Parent Holdings, Inc. (“e2open”), a U.S.‑based leading provider of SaaS solutions in the global logistics value chain, for $3.30 per share in cash equating to an enterprise value of $2.1 billion. Cravath is representing WiseTech Global in connection with the transaction.
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