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News & Insights

IBM’s Proposed Acquisition of Kenexa

August 27, 2012

On August 27, 2012, IBM and Kenexa announced that the two companies have entered into a definitive merger agreement for IBM to acquire Kenexa in an all-cash transaction at a price of $46.00 per share, or a net price of approximately $1.3 billion. Cravath represented IBM in connection with this transaction. The acquisition, which is subject to Kenexa shareholder approval, applicable regulatory clearances and other customary closing conditions, is expected to close in the fourth quarter of 2012.

Kenexa is a leading provider of recruiting and talent management solutions. Kenexa brings a unique combination of Cloud-based technology and consulting services that integrates both people and processes, allowing organizations to create a smarter workforce across their most critical business functions.

The Cravath team included associate Deborah R. Eltgroth on M&A matters; partner Michael L. Schler, practice area attorney Michael Krasnovsky and associates Jonathan J. Katz and Michelle M. Garrett on executive compensation and benefits matters; partner Andrew W. Needham and associates J. Leonard Teti II, Neetin Gulati and Andrew Carlon on tax matters; and partner Matthew Morreale on environmental matters. Summer associate Daniel Cerqueira also worked on corporate matters.

Related Practices & Industries

  • Corporate
  • Mergers and Acquisitions
  • Environmental
  • Executive Compensation and Benefits
  • Tax
  • Technology

People

Photo
Name
Matthew Morreale
Title
Corporate
Title
Partner
Email
mmorreale@cravath.com
Phone
+1-212-474-1534
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    Education

    • J.D., 1997, Columbia Law School
      Harlan Fiske Stone Scholar
    • M.S., 1994, University of Pennsylvania
    • B.A., 1990, University of Pennsylvania
    • B.A.S., 1990, University of Pennsylvania

    Admitted In

    • New York
    Photo
    Name
    J. Leonard Teti II
    Title
    Tax
    Title
    Partner
    Email
    lteti@cravath.com
    Phone
    +1-212-474-1896
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      Education

      • J.D., 2005, University of Virginia School of Law
        Order of the Coif
      • A.B., 1999, Princeton University
        with Honors

      Admitted In

      • New York
      Photo
      Name
      Jonathan J. Katz
      Title
      Executive Compensation and Benefits
      Title
      Partner
      Email
      jkatz@cravath.com
      Phone
      +1-212-474-1538
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        Education

        • LL.M., 2013, New York University School of Law
        • J.D., 2007, Benjamin N. Cardozo School of Law
          Order of the Coif, Dean's Distinguished Scholar, summa cum laude
        • B.S., 2003, Cornell University

        Admitted In

        • New York
        Photo
        Name
        Michael L. Schler
        Title
        Tax
        Title
        Retired Partner
        Email
        mschler@cravath.com
        Phone
        +1-212-474-1999
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          Education

          • LL.M., 1979, New York University
          • J.D., 1973, Yale Law School
          • B.A., 1970, Harvard University
            magna cum laude
          Photo
          Name
          Andrew W. Needham
          Title
          Tax
          Title
          Retired Partner
          Email
          aneedham@cravath.com
          Phone
          +1-212-474-1999
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            Education

            • M.B.A., 1992, The Wharton School of the University of Pennsylvania
            • LL.M., 1990, Georgetown University Law Center
            • J.D., 1986, Georgetown University Law Center
            • B.A., 1982, University of Arizona College of Law

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