Cravath Publishes Winter 2026 Issue of Alumni Journal
On March 10, 2014, Minerals Technologies Inc. (“MTI”) and AMCOL International Corporation announced that they have signed a definitive merger agreement under which MTI will acquire AMCOL for $45.75 per share in cash, or a total value of approximately $1.7 billion. This transaction resulted from an unsolicited offer by MTI following the announcement of AMCOL’s proposed acquisition by Paris‑based Imerys S.A. on February 12, 2014 and a series of competing public bids by MTI and Imerys. Cravath represented Minerals Technologies in connection with this transaction, which has been unanimously approved by the boards of directors of both companies and is expected to close in the first half of 2014, subject to customary closing conditions.
The Cravath team included partner Andrew R. Thompson and associate Brent R. Tomlinson on M&A matters; partner Stephen M. Kessing and associate Nicholas M. Foley on finance matters; partner Eric W. Hilfers and practice area attorneys Lawrence A. Pasini and Michael Krasnovsky on executive compensation and benefits matters; partner Lauren Angelilli and associate Jay S. Gill on tax matters; partner Matthew Morreale on environmental matters; partner Robert H. Baron on litigation matters; and partner Christine A. Varney and practice area attorney Robin C. Landis on antitrust matters. Ryan M. Farha also worked on M&A matters; Tony Fan also worked on finance matters; and Matthew J. Bobby also worked on executive compensation and benefits matters.
Deals & Cases
March 31, 2026
On March 31, 2026, Biogen Inc. and Apellis Pharmaceuticals, Inc. announced that the companies have entered into a definitive agreement under which Biogen has agreed to acquire all outstanding shares of Apellis for $41.00 per share in cash at closing, or approximately $5.6 billion. Apellis stockholders will also receive a nontransferable CVR for each Apellis share held, entitling the holder to receive two payments of $2 per share each, contingent on certain annual global net sales thresholds being met for SYFOVRE®. Cravath is representing Biogen in connection with the transaction.
Deals & Cases
March 09, 2026
On March 9, 2026, Universal Health Services, Inc. (“UHS”) announced that it has entered into a definitive agreement to acquire Talkspace, Inc. (“Talkspace”) for $5.25 per share. The enterprise value for the transaction is approximately $835 million. Cravath is representing Talkspace in connection with the transaction.
Deals & Cases
February 18, 2026
On February 17, 2026, Tenax Aerospace Acquisition, LLC (“Tenax”) and Air Industries Group (“Air”) jointly announced that they have entered into an Agreement and Plan of Merger to combine Tenax’s special mission aviation business with Air’s precision aerospace manufacturing business. At the time of the merger, Air will issue shares of its common stock to holders of Tenax membership units. After the closing, Tenax shareholders are expected to own approximately 95% of Air’s outstanding shares while existing Air shareholders are expected to own approximately 5%, and the combined company expects to remain listed on the NYSE American under the symbol AIRI. Cravath is representing Tenax in connection with the transaction.
Deals & Cases
February 17, 2026
On February 17, 2026, Kennedy‑Wilson Holdings, Inc. (“Kennedy Wilson”) and Fairfax Financial Holdings Limited (“Fairfax”) jointly announced that Kennedy Wilson has entered into a definitive agreement to be acquired, in an all cash‑transaction, by an entity affiliated with a consortium led by William McMorrow, Chairman and Chief Executive Officer of Kennedy Wilson, and certain other senior executives of Kennedy Wilson (collectively, the “KW Management Group”), together with Fairfax (collectively, the “Consortium”).
Celebrating 200 years of partnership. In 2019, we celebrated our bicentennial. Our history mirrors that of our nation. Integral to our story is our culture.
Attorney Advertising. ©2026 Cravath, Swaine & Moore LLP.