Premier’s $2.6 Billion Acquisition by Patient Square

On November 3, 2025, Kenvue Inc. (“Kenvue”), a global consumer health leader, and Kimberly‑Clark Corporation (“Kimberly‑Clark”), a global personal care leader, announced an agreement under which Kimberly‑Clark will acquire all of the outstanding shares of Kenvue common stock in a cash and stock transaction that values Kenvue at an enterprise value of approximately $48.7 billion, based on the closing price of Kimberly‑Clark common stock on October 31, 2025. Under the terms of the agreement, which has been unanimously approved by each company’s Board of Directors, Kenvue shareholders will receive $3.50 per share in cash as well as 0.14625 Kimberly‑Clark shares for each Kenvue share held at closing. Upon closing of the transaction, current Kenvue shareholders are expected to own approximately 46% and current Kimberly‑Clark shareholders are expected to own approximately 54% of the combined company on a fully diluted basis. Cravath is representing Kenvue in connection with the transaction.

On September 30, 2025, Future Standard, a global alternative asset manager, announced it has entered into an agreement to acquire the Digital Infrastructure platform of Post Road Group, an alternative investment advisory firm. The platform specializes in credit and structured equity investments across digital infrastructure assets, including data centers, fiber networks and cloud connectivity. Cravath is representing Future Standard in connection with the transaction.

On August 14, 2025, Fitch Learning, a global leader in financial learning and professional certifications, announced it signed an agreement with Moody’s to acquire two of their businesses, Moody’s Analytics Learning Solutions, a global provider of credit training, and the Canadian Securities Institute, a leading provider of professional certifications for the Canadian financial services industry. Cravath is representing Fitch Learning in connection with the transaction.

On August 10, 2025, International Money Express, Inc. (“Intermex”) and The Western Union Company (“Western Union”) announced they have entered into a definitive agreement under which Western Union will acquire Intermex in an all‑cash transaction at $16.00 per share, representing a total equity and enterprise value of approximately $500 million. Cravath is representing Intermex’s Strategic Alternatives Committee in connection with the transaction.