On September 4, 2026, Stanley Black & Decker, a worldwide leader in Tools and Outdoor, announced that it has entered into a definitive agreement to sell its Excel Industries (“Excel”) business to Bad Boy Mowers. Excel is a leading designer and manufacturer of premium commercial and residential turf‑care equipment under the distinct brand of Hustler Turf Equipment (“Hustler”). Cravath is representing Stanley Black & Decker in connection with the transaction.

Cravath represented the underwriters in connection with the $1.25 billion registered senior notes offering of Royal Caribbean Cruises Ltd., a global cruise company. The transaction closed on August 20, 2026.

On September 2, 2026, Cravath partner and former Under Secretary of Commerce and Director of the United States Patent and Trademark Office David J. Kappos testified before the Subcommittee on Courts, Intellectual Property, Artificial Intelligence, and the Internet of the United States House Judiciary Committee. The hearing, entitled “Renewal of USPTO Fee Setting Authority: Giving Full Effect to the America Invents Act,” considered Congress's role in renewing PTO’s fee setting authority alongside the agency discretion and procedural limits Congress built into the American Invents Act.

On September 1, 2026, Intellectual Asset Management (“IAM”) published an article by Cravath partner David J. Kappos and associate Noa M. Ma entitled "Comparable Licences Entered in the Shadow of Litigation are the Best Benchmark." The article discusses whether licenses reached during SEP litigation should be used to determine FRAND rates, arguing that these agreements often provide the best evidence of real‑world market value.

Cravath represented the underwriters in connection with the $2 billion registered senior notes offering of The Mosaic Company, the world’s leading producer and marketer of concentrated phosphate and potash crop nutrients. Cravath also represented the dealer managers in The Mosaic Company's concurrent $1.4 billion cash tender offer. The transactions closed on August 17, 2026 and August 18, 2026, respectively.

Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with a $4.25 billion revolving credit facility made available to 3M Company, a leading diversified technology company. The transaction closed on August 17, 2026. 

Cravath represented AdvanSix Inc. in connection with $425 million of credit facilities. AdvanSix Inc. is a leading integrated chemistry company that produces essential materials for diverse end markets. The facilities consisted of a $275 million revolving credit facility and a $150 million term loan facility. The transaction closed on August 14, 2026. 

On August 31, 2026, Aon, a leading global professional services firm, announced the signing of a definitive agreement to acquire USI, a leading provider of property & casualty, employee benefit, personal risk and retirement solutions for the middle market and the tenth largest U.S. insurance broker, from KKR and other shareholders for a total purchase price of $17 billion. Aon expects to fund the transaction, as well as related transaction expenses and other costs, with new debt raised across a range of maturities, subject to market conditions. The transaction has been unanimously approved by the Board of Directors of Aon and the Board of Directors of USI. Cravath is representing Aon in connection with the transaction.

On August 28, 2026, Columbia Law School's Blue Sky Blog published an article by Cravath of counsel Lucas E. Beirne entitled "Challenging Examination Results." The article examines how recent shifts in federal banking supervision may create new opportunities for banking organizations to challenge examination findings, ratings downgrades and other material supervisory determinations. It discusses informal advocacy strategies, the role of agency ombudsmen and the formal appeals processes available and offers practical guidance for institutions seeking to challenge supervisory decisions.

Cravath represented Illumina, Inc. in connection with its $1 billion revolving credit facility. Illumina, Inc. is a global leader in sequencing- and array‑based solutions for genetic and genomic analysis. The transaction closed on August 13, 2026.

Cravath partner David J. Kappos participated in the 2026 Global Forum on Intellectual Property, entitled “The Rise of AI: Is It IP as Usual?,” which was hosted by the Intellectual Property Office of Singapore from August 26‑27, 2026 in Singapore. Dave spoke on a panel entitled “A Better Brew and Grounds for Recovery: From Drafting to Enforcement,” which explored how parties can manage IP risks from contract design through to recovery—covering practical issues such as territorial restrictions, group structures, audit rights, dispute resolution mechanisms, damages quantification, settlement evaluation, asset tracing and enforcement risk.

On August 24, 2026, Cravath partner Brittany L. Sukiennik was featured as part of Law360’s 2026 “Rising Stars” series as one of the top Energy attorneys in the nation under the age of 40. The related profile highlights Brittany’s work for clients including PG&E and Xcel Energy in sprawling and complex wildfire‑related litigation.

On August 25, 2026, Cravath published the latest edition of its Venture Capital & Growth Equity Insights newsletter, which provides insight into U.S. and global venture capital and related activity during the first half of 2026 and an outlook for the rest of the year. Key takeaways from this edition include:

Cravath represented the underwriters in connection with the $500 million offering of depositary shares representing preferred stock of State Street Corporation, a provider of a broad range of financial products and services to institutional investors worldwide. The transaction closed on August 12, 2026.

On August 25, 2026, Cravath prepared a memo for its clients entitled “Federal Reserve Board Proposes Update to Regulation O.” The memo discusses the Federal Reserve Board’s request for comments on a proposed rulemaking to modernize Regulation O, which establishes limits on lending by a bank to individuals and entities that can potentially influence its lending decisions, as well as related governance and recordkeeping requirements for insider lending. 

Cravath represented the underwriters in connection with the $2 billion registered senior notes offering of Skyworks Solutions, Inc., a leading developer, manufacturer and provider of analog and mixed‑signal semiconductor products and solutions for numerous applications. Proceeds of the offering will be used to finance the acquisition of Qorvo, Inc. The transaction closed on August 10, 2026.

Cravath represented the initial purchasers in connection with the $1.25 billion senior notes offering of State Street Bank and Trust Company, the principal banking subsidiary of State Street Corporation, a provider of a broad range of financial products and services to institutional investors worldwide. The transaction closed on July 23, 2026.

Cravath represented Martin Marietta Materials, Inc. (“Martin Marietta”) in connection with its $5.5 billion registered senior notes offering. Martin Marietta is a leading supplier of aggregates and heavy building materials for the construction industry in the United States. Proceeds of the offering will be used to finance the acquisition of Lhoist North America, Inc. The transaction closed on August 14, 2026.

Cravath partners Karin A. DeMasi, Rachel G. Skaistis, Lauren A. Moskowitz and Vanessa A. Lavely were recognized by Benchmark Litigation in the 2026 edition of “Top 250 Women in Litigation,” which honors “top players in their respective fields.” Inclusion in the list is based on a review of individual litigators’ professional activities, client feedback surveys and one on one interviews. This is the ninth consecutive year Karin and Rachel have been selected for inclusion in the publication. Lauren is recognized for the sixth year, and Vanessa is recognized for the second year.

Cravath partners Sharonmoyee Goswami, Lauren M. Rosenberg, David H. Korn, Brittany L. Sukiennik, Michael J. Zaken and Rebecca J. Schindel were named by Benchmark Litigation to its 2026 “40 & Under List.” The list honors “the top emerging talent in litigation” and was compiled through a process involving peer and client review, along with examination of individual cases.