Cravath’s London Office Moves to 100 Cheapside
On November 8, 2021, Newcrest Mining Limited (“Newcrest”) announced it has entered into an agreement to acquire all of the issued and outstanding common shares of Pretium Resources Inc. (“Pretivm”) that it does not already own by way of a Canadian Plan of Arrangement. Pretivm is the owner of the Brucejack operation in the Golden Triangle region of British Columbia, Canada. The total consideration offered values all of the outstanding common shares of Pretivm at approximately $2.8 billion, on an undiluted basis. Pretivm shareholders will be able to elect either C$18.50 in cash or 0.80847 Newcrest shares per Pretivm share, subject to proration and an aggregate cap of 50% cash and 50% Newcrest shares. Pretivm shareholders who do not elect cash or Newcrest shares (subject to proration) will receive default consideration of C$9.25 per Pretivm share in cash and 0.40427 Newcrest shares per Pretivm share. Cravath is representing Newcrest as U.S. counsel in connection with the transaction.
The Cravath team is led by partners George A. Stephanakis and Richard Hall and includes European counsel Virginie Marier and associates Nicoleta D. Lupea and Kristina Klem on M&A matters and partner Eric W. Hilfers and associate Christopher C. Gonnella on executive compensation and benefits matters.
Deals & Cases
May 15, 2025
On May 15, 2025, the boards of Greencore Group plc (“Greencore”), a leading manufacturer of convenience foods in the UK, and Bakkavor Group Plc (“Bakkavor”), a leading provider of fresh prepared food in the UK, announced that they have agreed the terms of a recommended acquisition of Bakkavor by Greencore at a base consideration which values each Bakkavor share at 200 pence, which implies Bakkavor’s entire issued and to be issued share capital is valued at approximately £1.2 billion. Under the terms of the transaction, Bakkavor shareholders will be entitled to (for each Bakkavor share): 0.604 new Greencore shares, 85 pence in cash and one contingent value right. Cravath is representing Greencore as U.S. counsel in connection with the transaction.
Deals & Cases
May 09, 2025
On May 9, 2025, TaskUs, Inc. (“TaskUs”), a leading provider of outsourced digital services and next‑generation customer experience to companies, announced it has entered into a definitive agreement to become a privately held company. Under the terms of the agreement, an affiliate of Blackstone, TaskUs Co‑Founder and Chief Executive Officer Bryce Maddock and TaskUs Co‑Founder and President Jaspar Weir (collectively the “Buyer Group”) will acquire 100% of the outstanding shares of Class A common stock they do not already own for $16.50 per share in an all-cash transaction. Upon completion of the transaction, the Company’s Class A common stock will no longer be listed on any public market. The TaskUs Board of Directors has approved the transaction upon the unanimous recommendation of a special committee of independent directors (the “Special Committee”), which was formed on March 20, 2025, in response to interest expressed by the Buyer Group in exploring a possible transaction. Cravath is representing the Special Committee in connection with the transaction.
Deals & Cases
March 18, 2025
On March 18, 2025, Wiz, Inc. (“Wiz”), a leading cloud security platform headquartered in New York, and Google LLC (“Google”) announced they have signed a definitive agreement for Google to acquire Wiz for $32 billion, subject to closing adjustments, in an all‑cash transaction. Once closed, Wiz will join Google Cloud. Cravath is representing Wiz as regulatory counsel in connection with the transaction.
Deals & Cases
March 17, 2025
On March 17, 2025, PepsiCo, Inc. (“PepsiCo”) announced that it has entered into a definitive agreement to acquire poppi, a prebiotic soda brand, for $1.95 billion, including $300 million of anticipated cash tax benefits for a net purchase price of $1.65 billion. The transaction also includes an additional potential earnout consideration subject to the achievement of certain performance milestones within a specified period after closing of the transaction. Cravath is representing PepsiCo in connection with the transaction.
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