Cravath’s London Office Moves to 100 Cheapside
June 29, 2021
On June 29, 2021, Cravath partner Jonathan J. Katz co‑chaired a preview event for the International Bar Association’s 7th Annual Corporate Governance Conference entitled “Executive Compensation Update in the Age of COVID‑19.” Acknowledging the central role of executive compensation considerations for boards, senior management, shareholders and other stakeholders and proxy firms during an unusual year, the session explored recent corporate governance developments and activity in the executive compensation area over the past year and relevant considerations for the future, including performance‑based compensation, an overview of key European compensation trends and founder equity awards.
Deals & Cases
May 21, 2021
On May 21, 2021, Canadian National Railway (“CN”) and Kansas City Southern (“KCS”) announced that they have entered into a definitive merger agreement. Under the terms of the agreement, which was unanimously approved by the Board of Directors of each company, KCS shareholders will receive $325 per common share based on CN’s May 13, 2021 offer, which implies a total enterprise value of $33.6 billion, including the assumption of approximately $3.8 billion of KCS debt. Cravath is representing CN in connection with the transaction.
Deals & Cases
April 21, 2021
On April 20, 2021, Canadian National Railway Company (“CN”) announced that it has made a superior proposal to combine with Kansas City Southern (“KCS”) in a cash‑and‑stock transaction valued at $33.7 billion, or $325 per share. Together, CN and KCS will create a premier railway for the 21st century by connecting ports and rails in the United States, Mexico and Canada and providing superior service, enhanced competition and new market access to move goods across North America efficiently and safely. Cravath is representing CN in connection with the transaction.
Deals & Cases
February 03, 2021
On February 3, 2021, GW Pharmaceuticals plc (“GW”) and Jazz Pharmaceuticals plc (“Jazz”) announced that they have entered into a definitive agreement for Jazz to acquire GW, a global leader in developing, manufacturing and commercializing novel, regulatory approved therapeutics from its proprietary cannabinoid product platform to address a broad range of diseases for $220.00 per American Depositary Shares (ADS), in the form of $200.00 in cash and $20.00 in Jazz ordinary shares for a total consideration of $7.2 billion. Cravath is representing GW in connection with the transaction.
Deals & Cases
December 08, 2020
On December 7, 2020, Northrop Grumman Corporation and Veritas Capital (“Veritas”) announced that Peraton, an affiliate of Veritas, has signed a definitive agreement to acquire Northrop Grumman’s federal IT and mission support services business for $3.4 billion in cash. Cravath is representing Northrop Grumman in connection with the transaction.
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