On October 23, 2025, Cravath partner Andrew C. Finch participated in the Global Competition Review Live: Global Merger Control 2025 conference, which was held from October 23‑24 in Brussels, Belgium. The conference brought together practitioners, including private practice lawyers, government representatives and in‑house counsel from more than 20 countries, to debate and analyze the latest major developments in merger control. Andrew was featured in a fireside chat alongside Federal Trade Commission Commissioner Melissa Holyoak.

In October 2025, Cravath partners Jennifer S. Leete and John D. Buretta were named to Securities Docket’s 2025 “Enforcement Elite” list of “the best securities enforcement defense counsel in the business.” The list recognizes “key players in some of the most significant SEC enforcement matters” and honors enforcement defense professionals who “have the right stuff to handle bet‑the‑company matters, but are also the kind of defensive specialists critical to have on speed-dial should the SEC’s Division of Enforcement come calling.”

On October 30, 2025, Cravath partner Jennifer S. Leete participated in Securities Docket’s Securities Enforcement Forum D.C. 2025, held in Washington, D.C. The conference brought together former senior SEC officials, securities enforcement and white‑collar attorneys, in‑house counsel and compliance executives to discuss critical topics in securities enforcement, including cryptocurrency, financial and accounting fraud, the impact of artificial intelligence, investigation strategies and more. Jennifer spoke on a panel entitled “Crypto Unleashed: The SEC’s New Approach to Regulation, Enforcement, and ‘Project Crypto.’”

On November 3, 2025, Kenvue Inc. (“Kenvue”), a global consumer health leader, and Kimberly‑Clark Corporation (“Kimberly‑Clark”), a global personal care leader, announced an agreement under which Kimberly‑Clark will acquire all of the outstanding shares of Kenvue common stock in a cash and stock transaction that values Kenvue at an enterprise value of approximately $48.7 billion, based on the closing price of Kimberly‑Clark common stock on October 31, 2025. Under the terms of the agreement, which has been unanimously approved by each company’s Board of Directors, Kenvue shareholders will receive $3.50 per share in cash as well as 0.14625 Kimberly‑Clark shares for each Kenvue share held at closing. Upon closing of the transaction, current Kenvue shareholders are expected to own approximately 46% and current Kimberly‑Clark shareholders are expected to own approximately 54% of the combined company on a fully diluted basis. Cravath is representing Kenvue in connection with the transaction.

Cravath represented the initial purchasers in connection with the $500 million 144A/Reg. S high‑yield senior notes offering of Danaos Corporation, a global shipping company that operates one of the world's largest fleets of containerships. The transaction closed on October 17, 2025.

On October 29, 2025, Cravath partner Sharonmoyee Goswami participated in “Patent Law Institute 2025: Critical Issues & Best Practices,” a program presented by the Practising Law Institute from October 29‑30 in New York. Sharon spoke on a panel entitled “Recent Court Decisions That Are Shaping Up Patent Law,” which discussed recent Supreme Court decisions and certiorari grants, major Federal Circuit opinions and en banc petitions, patent damages under EcoFactor v. Google and recent changes in USPTO proceedings.

Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with a $4 billion revolving credit facility made available to Valero Energy Corporation, a leading multinational manufacturer and marketer of petroleum‑based and low‑carbon liquid transportation fuels and petrochemical products. The transaction closed on October 16, 2025.

On October 28, 2025, Cravath partner Jelena McWilliams participated in Money20/20 USA conference in Las Vegas. Jelena moderated a fireside chat that explored the evolving priorities of the Office of the Comptroller of the Currency (“OCC”) under the leadership of Comptroller Jonathan Gould. The discussion examined how the OCC is shaping transparency, competition, fair access and digital transformation across the banking industry and how the agency’s growing influence is redefining the future of banking and financial innovation.

On October 28, 2025, Cravath prepared a memo for its clients entitled “Back to the Future: IRS and Treasury Reinstate pre‑2024 Guidelines for Spin‑Off Private Letter Rulings.” The memo examines the Internal Revenue Service’s recently released Rev. Proc. 2025‑30, which provides updated guidelines for taxpayers requesting private letter rulings from the IRS for tax‑free spin‑off and split‑off transactions under Section 355. Rev. Proc. 2025‑30 supersedes Rev. Proc. 2024‑24 and withdraws Notice 2024‑38 (together the “2024 Guidance”).

On October 28, 2025, Westinghouse Electric Company (“Westinghouse”), Brookfield Asset Management (“Brookfield”) and Cameco Corporation (“Cameco”) announced that the U.S. Government has entered into a strategic partnership to accelerate the deployment of nuclear power. At the center of the new strategic partnership, at least $80 billion of new reactors will be constructed across the United States using Westinghouse nuclear reactor technology. The partnership contains profit sharing mechanisms that provide for all parties, once certain thresholds are met, to participate in the long‑term financial and strategic value that will be created within Westinghouse by the growth of nuclear energy and advancement of investment into AI capabilities in the United States. Cravath is representing Westinghouse and Brookfield in connection with the strategic partnership.

Cravath represented Alliance Laundry Holdings Inc. in connection with its $950.29 million initial public offering of common stock. Alliance Laundry Holdings is the world’s largest designer and manufacturer of commercial laundry systems, serving a diverse range of global markets. The transaction closed on October 10, 2025.

Cravath represented the initial purchaser in connection with the $275 million 144A/Reg. S high‑yield senior guaranteed notes offering of Cleveland‑Cliffs Inc., a leading North America‑based steel producer. The transaction closed on October 10, 2025.

On October 23, 2025, Cravath partner Isaac C. Beerman participated in the American Bar Association’s NYC Commercial Finance Meeting 2025, which was held in New York. The meeting convened experts to provide insights into the U.S. loan market. Isaac spoke on a panel entitled “What’s Lurking in Your Loan Documents?”, which explored recent trends in loan documentation and the key market dynamics driving them.

Cravath of counsel Kiran Sheffrin and retired partner Michael L. Schler participated in “Tax Strategies for Corporate Acquisitions, Dispositions, Spin‑Offs, Joint Ventures, Financings, Reorganizations & Restructurings 2025,” a program presented by the Practising Law Institute from October 22‑24 in New York. Kiran spoke on a panel entitled “Selected Seller and Buyer Issues, Including Negotiating and Drafting Tax Provisions in Acquisition Agreements,” which explored tax issues that should be addressed in acquisition agreements, including identifying key risk allocation issues and negotiating and drafting provisions recommending the appropriate tax insurance, including representation and warranty insurance. Mike spoke on a panel entitled “Consolidated Return Planning and Strategies,” which reviewed current issues in applying the consolidated return regulations, including those arising from statutory uncertainties, recent regulatory and administrative guidance and informal guidance issued by the IRS.

The 2025 Chambers UK rankings recognized Cravath across three categories: Leveraged Finance (Lenders – Big Ticket); Leveraged Finance (Big Ticket); and Capital Markets (High‑Yield Products). Chambers noted Cravath among the firms that “excel in sophisticated, high‑value financial deals.” Added a survey respondent, Cravath’s “team impresses with its collaborative spirit and innovative approach. Their strengths lie in effective communication, strategic problem‑solving, along with being diligent and highly commercial.”

In an article highlighting the October release of the 2025 edition of IFLR1000, IFLR named Cravath among the law firms that “made the largest strides in the banking and finance rankings across four key European markets this year.” It further pointed to Cravath’s “sharp ascent” in rankings as evidence of U.S. firms becoming increasingly active in London’s finance space. The 2025 edition of IFLR1000 recognized Cravath across five categories: Bank Lending – Lender Side, Bank Lending – Sponsor Side, Capital Markets – Debt, Capital Markets – Equity and Capital Markets – High Yield.

On October 23, 2025, Cravath partner Steven Seltzer conducted a virtual program for the Practising Law Institute entitled “Overview of SEC Rules Related to Share Repurchase Activity and OMR, ASR, and eOMR Transactions.” The program was designed for in‑house counsel, outside attorneys, compliance, finance, bankers and other professionals interested in how publicly traded companies execute share repurchases. Steven provided overviews of SEC Rules 10b‑18 and 10b5‑1, the types of transactions used to accomplish share repurchases and certain enforcement actions related to share repurchases.

In October 2025, three Cravath attorneys were recognized for their pro bono advocacy on behalf of New York veterans and children receiving treatment in New York City children’s hospitals.

On October 20, 2025, Cravath partners John W. White and Kimberley S. Drexler participated in the Society for Corporate Governance’s 2025 Eastern Regional Conference, which was held from October 20‑21 in New York. The event featured a mix of panel discussions, interviews and networking sessions on topics such as generative AI, governance, regulatory and judicial developments, Delaware corporate law updates and geopolitical risk. Together, John and Kimberley led a fireside chat entitled “Under Pressure: Boardroom Leadership in a Shifting Landscape,” with a panel of public company directors that examined emerging trends and challenges in corporate governance and board practices, including how boards are navigating the political and social landscape and the implications for oversight, fiduciary responsibilities and stakeholder engagement. John also spoke on a panel of former senior Corporation Finance officers entitled “Regulatory Developments/SEC Panel,” which featured updates on the SEC and its Division of Corporation Finance and discussed evolving expectations around key areas of anticipated rulemaking to further the SEC’s mission, including disclosure rationalization, semi-annual reporting, shareholder proposals and shelf registration.

On October 16, 2025, Cravath partner Elad Roisman participated in DC Fintech Week in Washington, D.C. The event brought together leading voices in finance, technology and regulation to explore the future of fintech, with discussions on AI, blockchain and global financial trends. Elad moderated a panel entitled “Click Once, Lose Everything?: The Future of Digital Asset Custody,” which examined the importance of securing code, keys and composability at scale, and explored how institutions are redefining custody to support programmable assets, multi‑party computation and next‑generation financial infrastructure.