Cravath’s London Office Moves to 100 Cheapside
On May 10, 2022, Cravath partner Lauren Angelilli participated in “Tax Planning for Domestic & Foreign Partnerships, LLCs, Joint Ventures & Other Strategic Alliances 2022,” a program presented by the Practising Law Institute from May 9‑11, 2022, in New York. Lauren spoke during a panel entitled “Distressed Partnerships (Including Bankruptcy and CARES Act),” which discussed a potential resurgence of common forms of debt workouts and restructuring transactions, including bankruptcy, foreclosure, debt modification and contribution of debt to equity, due to the effects of the COVID‑19 pandemic, the tax implications that follow when those transactions are carried out through partnerships and the qualification for exclusion and allocation of cancellation of debt income.
Deals & Cases
May 07, 2022
On May 6, 2022, Southwest Gas Holdings, Inc. (“Southwest Gas”) announced that it has entered into a settlement agreement with Carl Icahn and his affiliated entities. Pursuant to the agreement, at least three, and up to four, new directors will join the Southwest Gas Board of Directors. Following the 2022 Annual Meeting of Stockholders, the Board will continue the previously announced review of a full range of strategic alternatives to maximize stockholder value. Under the terms of the agreement, Mr. Icahn will withdraw his slate of director nominees with respect to the Annual Meeting and vote in favor of the Company’s nominees. Cravath is representing Southwest Gas in connection with the agreement.
Deals & Cases
February 11, 2022
On February 9, 2022, Altra Industrial Motion Corp.(“Altra”), a leading global manufacturer and supplier of motion control, power transmission and automation products, announced that it has entered into an agreement to sell its Jacobs Vehicle Systems business to Cummins Inc., a leader in the heavy-duty trucking industry, for $325 million. Cravath is representing Altra in connection with the transaction.
Deals & Cases
January 20, 2022
On January 20, 2022, Alliance Animal Health, a leading acquirer and operator of veterinary hospitals for companion animals, announced that it has received a significant growth investment from the Flagship Fund of L Catterton, a consumer‑focused private equity firm. LightBay Capital will retain a significant minority stake. Cravath is representing the founders of Alliance Animal Health in connection with the transaction.
Deals & Cases
January 04, 2022
On January 3, 2022, Cable One, Inc. (“Cable One”) announced it has formed Clearwave Fiber in partnership with GTCR LLC, Stephens Capital Partners LLC and The Pritzker Organization, L.L.C. Clearwave Fiber is a newly formed joint venture that holds Clearwave Communications and certain fiber assets of Hargray Communications. Clearwave Fiber intends to invest heavily in bringing fiber‑to‑the‑premise service to residential and business customers. Cravath is representing Cable One in connection with the transaction.
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