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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
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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