Ting Chen Co‑Chairs Panel at IBA’s 2023 International Mergers & Acquisitions Conference

On August 8, 2022, Global Blood Therapeutics, Inc. (“GBT”), a biopharmaceutical company dedicated to the discovery, development and delivery of life‑changing treatments that provide hope to underserved patient communities, starting with sickle cell disease, and Pfizer Inc. (“Pfizer”) announced that the companies have entered into a definitive agreement under which Pfizer will acquire GBT. Under the terms of the transaction, Pfizer will acquire all the outstanding shares of GBT for $68.50 per share in cash, for a total enterprise value of approximately $5.4 billion, including debt and net of cash acquired. Cravath is representing GBT in connection with the transaction.

On June 21, 2022, Pitney Bowes, a global shipping and mailing company, and Global‑e, a cross‑border end‑to‑end platform for brands and retailers, announced they have entered into a definitive agreement for Global‑e to acquire from Pitney Bowes the Borderfree cross‑border ecommerce solutions business. In addition, the companies will begin a strategic partnership and commercial relationship whereby Pitney Bowes will provide cross‑border ecommerce logistics services to Global‑e and its clients, and Pitney Bowes’s clients will receive access to cross‑border solutions on the Global‑e platform. Cravath is representing Pitney Bowes in connection with the transaction.

On October 20, 2021, SPANX, Inc. (“SPANX”), the mission‑driven womenswear brand founded by Sara Blakely in 2000, announced a definitive agreement for a majority investment from funds managed by Blackstone, a leading global investment business. Blackstone has agreed to buy a majority stake in the company at a valuation of $1.2 billion, with Blakely maintaining a significant equity stake in the business. Blakely, along with SPANX’s existing senior management team, will continue to oversee daily operations, and at closing, Blakely will become the Executive Chairwoman. Cravath is representing SPANX in connection with the transaction.

On June 28, 2021, New Senior Investment Group Inc. (“New Senior”) and Ventas, Inc. (“Ventas”) announced that they have entered into a definitive merger agreement pursuant to which Ventas will acquire New Senior in an all‑stock transaction valued at approximately $2.3 billion, including $1.5 billion of New Senior debt. Cravath is representing New Senior in connection with the transaction.