IBM’s Disposition of its Microelectronics Business to GLOBALFOUNDRIES

On October 20, 2014, IBM and GLOBALFOUNDRIES Inc. announced a definitive agreement under which GLOBALFOUNDRIES plans to acquire IBM’s global commercial semiconductor technology business, including intellectual property, world‑class technologists and technologies related to IBM Microelectronics. Cravath represented IBM in connection with this transaction, which is subject to the satisfaction of regulatory requirements and customary closing conditions.

The Cravath team included partner Minh Van Ngo and associates Mark Mushkin, Benjamin S. Persina and Isaac C. Beerman on M&A matters; associates Audry X. Casusol, Matthew Cantor, Julia L. Onorato and Amy C. Benford on executive compensation and benefits matters; partner Andrew W. Needham and associate Andrew Carlon on tax matters; partner Matthew Morreale on environmental matters; and partner Kevin J. Grehan, senior attorney John Gerhard and practice area attorney Joyce Law on real estate matters. Mathew J. Saur also worked on M&A matters.