Cravath Publishes Winter 2026 Issue of Alumni Journal
On June 17, 2015, two of the world’s leading healthcare technology companies, Hill‑Rom Holdings, Inc. and privately held Welch Allyn, Inc., announced that the Boards of Directors of both companies have unanimously approved a definitive agreement under which Hill‑Rom will acquire Welch Allyn for approximately $2.05 billion in cash and stock. Cravath represented Welch Allyn in connection with this transaction.
The Cravath team was led by partners Susan Webster and Richard Hall and included associates Benjamin S. Persina, Holden K. Sumner and Vernie Chia on M&A matters; partners Stephen L. Gordon and Lauren Angelilli and associate Jay S. Gill on tax matters; partner Eric W. Hilfers, senior attorney Lawrence A. Pasini and associate Matthew J. Bobby on executive compensation and benefits matters; practice area attorney Anthony N. Magistrale on intellectual property matters; partner Christine A. Varney and associates Margaret Segall D’Amico and Caitlin N. Fitzpatrick on antitrust matters; partner Matthew Morreale on environmental matters; and practice area attorney Gary R. Eisenman on real estate matters. Summer associates Rebecca D. Stacker and Bradley M. Tarrash also worked on M&A matters.
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”).
Deals & Cases
February 17, 2026
On February 17, 2026, MTN Group Limited (“MTN”), Africa’s largest mobile network operator, announced that it has entered into an agreement with IHS Holding Limited (“IHS”), one of the largest independent owners, operators and developers of shared communications infrastructure in the world, to acquire the remaining shares of IHS not already owned by MTN in an all‑cash transaction at an offer price of $8.50 per IHS share, which implies an enterprise value of $6.2 billion. The structure of the transaction is intended such that, upon completion of IHS’ announced disposals of its Latin American businesses, MTN will acquire 100% of IHS’ African tower portfolio. Following the completion of the transaction, IHS will be de‑listed from the New York Stock Exchange. Cravath is representing MTN in connection with the transaction.
Deals & Cases
February 16, 2026
On February 16, 2026, Hapag‑Lloyd signed an agreement with Zim Integrated Shipping Services Ltd. (“ZIM”), the world’s 10th largest container shipping line, under which Hapag‑Lloyd will acquire 100% of ZIM’s shares for a consideration of $35 per share in cash. The total transaction value amounts to over $4 billion. As part of the transaction, FIMI Opportunity Funds will take ownership of a carved‑out Israeli container liner business. Cravath is representing Hapag‑Lloyd in connection with the transaction.
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