Prosus’s Investment in Churchill II for $1.5 Billion of Acquisitions

On October 5, 2020, Eidos Therapeutics, Inc. (“Eidos”), a company focused on transthyretin amyloidosis, and BridgeBio Pharma, Inc., a company focused on genetic diseases, announced that they have entered into a definitive agreement under which BridgeBio has agreed to acquire all of the outstanding common stock of Eidos it does not already own, representing approximately 36.3% of Eidos’s outstanding shares, valuing Eidos at approximately $2.83 billion. Eidos stockholders will have the right to receive in the transaction, at their election, either 1.85 shares of BridgeBio common stock or $73.26 in cash per Eidos share in the transaction, up to an aggregate maximum of $175 million of cash. Cravath is representing the Special Committee of the Board of Eidos in connection with the transaction.

On September 24, 2020, Amentum Holdings LLC (“Amentum”), a leading contractor to U.S. federal and allied governments jointly owned by Lindsay Goldberg and American Securities, and DynCorp International (“DynCorp”), a worldwide leader in aviation and logistics support services, announced a definitive agreement under which an affiliate of Amentum will acquire DynCorp. The acquisition, once finalized, will create one of the largest providers of mission‑critical support services, with more than $6 billion of combined revenue over the last 12 months. Cravath is representing Amentum, Lindsay Goldberg and American Securities in connection with the transaction.

On August 22, 2020, the Austria-based binderholz Group, a leading European company for solid wood products and innovative building solutions, announced it had entered into a definitive agreement to purchase substantially all the assets of the Florida‑based sawmill operator Klausner Lumber One, LLC after prevailing in an auction held on August 21, 2020 pursuant to Section 363 of the United States Bankruptcy Code. Klausner Lumber One, LLC is currently in Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware. Cravath is representing binderholz Group in connection with the transaction, which closed on September 21, 2020.

On September 21, 2020, Illumina, Inc. (“Illumina”) and GRAIL announced they have entered into a definitive agreement under which Illumina will acquire GRAIL for cash and stock consideration of $8 billion. In addition, GRAIL shareholders will receive future payments representing a tiered single digit percentage of certain GRAIL-related revenues. GRAIL, a healthcare company focused on multi-cancer early detection, was founded by Illumina, a global leader in DNA sequencing and array-based technologies, in 2016 and spun out as a standalone company. Cravath is representing Illumina in connection with the transaction.