Nick Dorsey, Ryan Patrone, Kelly Smercina and Margaret Rallings Contribute to the 2025 Chambers Acquisition Finance Guide

Cravath partner Nicholas A. Dorsey served as the co‑editor of the 2025 edition of the Chambers Acquisition Finance Guide, which is part of the publisher’s Global Practice Guide series. Nick also co‑authored, along with Cravath partners Ryan J. Patrone, Kelly M. Smercina and Margaret R. M. Rallings, the U.S. chapter of the guide.

The chapter provides an overview of the U.S. acquisition finance market, covering topics including the common debt structures used for acquisition finance and the types of documentation needed for offers and agreements. The chapter also reviews jurisdiction features specific to the United States and how acquisition financing and M&A activity more generally remained muted in 2024 due in part to challenging macroeconomic and geopolitical conditions, although both markets showed signs of recovery when compared to 2023.

Please click here to read the Introduction.

Please click here to read the U.S. chapter.