Four Decades for Justice
On September 30, 2021, Cravath partner Faiza J. Saeed participated in TheGrill 2021, which was virtually hosted by TheWrap from September 29 to September 30, 2021 and included founders, creatives, CEOs, entrepreneurs and executive leaders across industries for discussions on defining the future of disruptive trends and technology in media and entertainment. Entitled “Acquire or Die: Navigating the Era of Mega‑Mergers and SPACS,” Faiza’s panel assessed the current climate around mergers and acquisitions in the entertainment business, the components of successful deals, the potential impact of streaming on entertainment companies, and the rise of special purpose acquisition companies.
Deals & Cases
April 15, 2021
On April 15, 2021, Thermo Fisher Scientific Inc. (“Thermo Fisher”), a leader in serving science, and PPD, Inc. (“PPD”), a leading provider of clinical research services to the pharma and biotech industry, announced that their boards of directors have approved a definitive agreement under which Thermo Fisher will acquire PPD for $47.50 per share for a total cash purchase price of $17.4 billion plus the assumption of approximately $3.5 billion of net debt. Cravath is representing Thermo Fisher in connection with the transaction.
Deals & Cases
January 11, 2021
On January 8, 2021, Roku, Inc. announced that The Roku Channel will become the exclusive place to stream more than 75 premium shows and documentaries that Quibi, a streaming platform designed to deliver short‑form content, created in conjunction with Hollywood’s leading studios and production companies. Roku acquired the exclusive global distribution rights to Quibi’s award‑winning shows and will make the content available for free on an ad‑supported basis in 2021 to all Roku users. Following an internal restructuring by Quibi, Roku acquired Quibi Holdings, LLC, the company that holds all of Quibi’s content distribution rights. Cravath is representing Quibi in connection with the transaction.
Deals & Cases
December 09, 2020
On October 21, 2020, Quibi Holdings, LLC, a streaming platform designed to deliver short-form content, announced that it was winding up its business in order to preserve as much value as possible for its equity holders. As a result, the company will cease to carry on business except to the extent beneficial for the winding down thereof and to preserve the liquidation value of the company’s assets. Cravath is representing Quibi and its Board of Directors in connection with its out-of-court wind-down process.
Deals & Cases
December 08, 2020
On December 7, 2020, Northrop Grumman Corporation and Veritas Capital (“Veritas”) announced that Peraton, an affiliate of Veritas, has signed a definitive agreement to acquire Northrop Grumman’s federal IT and mission support services business for $3.4 billion in cash. Cravath is representing Northrop Grumman in connection with the transaction.
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