Cravath’s London Office Moves to 100 Cheapside
June 02, 2023
On June 1, 2023, Cravath partner Michael L. Arnold participated in “Profit & Purpose ’23,” Westchester County Association’s 2023 Sustainable Business Conference, which was presented in partnership with the Elisabeth Haub School of Law at Pace University in White Plains, NY. Michael spoke on a panel entitled “Mandatory Climate Risk and ESG Disclosure,” which reviewed pending SEC rules that will require companies to provide an accounting of their greenhouse gas emissions, climate‑related risks and risk management and other climate‑related disclosures, as well as other recent developments in voluntary and European ESG disclosure standards and what companies should be doing to respond to these developments.
Deals & Cases
May 15, 2023
On May 12, 2023, AngloGold Ashanti, an independent, global gold mining company, announced that it has undertaken a comprehensive review of its domicile and listing structure and concluded that the most appropriate structure for AngloGold Ashanti Group is a UK corporate domicile with a U.S. primary listing on the New York Stock Exchange (“NYSE”) and secondary listings on the Johannesburg Stock Exchange (“JSE”) and A2X Markets (“A2X”) in South Africa and on the Ghana Stock Exchange (“GhSE”) in Ghana. Cravath is representing AngloGold Ashanti as U.S. counsel in connection with this matter.
Deals & Cases
April 27, 2023
On April 27, 2023, Jefferies Financial Group, Inc. (“Jefferies”) and Sumitomo Mitsui Banking Corporation (“SMBC”) announced that they have expanded their strategic alliance to collaborate on future corporate and investment banking business opportunities, as well as in equity sales, trading, and research. The expanded alliance also includes joint coverage of designated investment grade clients that have banking relationships with SMBC and will now have dedicated Jefferies investment banking coverage. SMBC will be responsible for credit products and debt capital markets, while Jefferies will be responsible for M&A and equity capital markets. Additionally, SMBC intends to increase its economic ownership of Jefferies to up to 15% on an as converted and fully diluted basis and upon the investment reaching or passing 10%, SMBC will be entitled to designate a new member to Jefferies’ Board of Directors. Cravath is representing Jefferies in connection with the transaction.
Deals & Cases
February 14, 2023
On February 9, 2023, The Walt Disney Company (“Disney”) issued a statement in response to Nelson Peltz’s announcement that Trian Fund is no longer pursuing a proxy contest at Disney. Cravath represented Disney in connection with this matter.
Deals & Cases
October 20, 2022
On October 20, 2022, BDT & Company Holdings, L.P. (“BDT”) and MSD Partners, L.P. (“MSD”) announced that they have entered into a definitive business combination agreement under which they will create an advisory and investment firm serving the distinct needs of family‑ and founder‑led business owners and strategic, long‑term investors. The combination will unite BDT, a merchant bank that provides advice and long‑term capital through its affiliated funds, and MSD, a long‑term oriented investment firm. Cravath is representing BDT in connection with the transaction.
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