September 25, 2020
On September 25, 2020, Cravath partner Ting S. Chen spoke at “Hot Topics in Mergers & Acquisitions 2020,” a program presented virtually by the Practising Law Institute. Ting spoke on a panel entitled “Private M&A Issues,” which reviewed considerations around representation and warranty insurance, how to set clients up for success in purchase price adjustment disputes and considerations around carve‑out transactions.
Deals & Cases
September 21, 2020
On September 21, 2020, Illumina, Inc. (“Illumina”) and GRAIL announced they have entered into a definitive agreement under which Illumina will acquire GRAIL for cash and stock consideration of $8 billion. In addition, GRAIL shareholders will receive future payments representing a tiered single digit percentage of certain GRAIL-related revenues. GRAIL, a healthcare company focused on multi-cancer early detection, was founded by Illumina, a global leader in DNA sequencing and array-based technologies, in 2016 and spun out as a standalone company. Cravath is representing Illumina in connection with the transaction.
Deals & Cases
June 16, 2020
On June 15, 2020, IBM and Spanugo announced they have entered into a definitive agreement to acquire assets from Spanugo, a U.S.‑based provider of cloud cybersecurity posture management solutions. By integrating Spanugo software into its public cloud, IBM will further meet the security demands of its clients in highly regulated industries. Cravath is representing IBM in connection with the transaction.
Deals & Cases
November 25, 2019
On November 25, 2019, The Charles Schwab Corporation (“Schwab”) and TD Ameritrade Holding Corporation (“TD Ameritrade”) announced that they have entered into a definitive agreement for Schwab to acquire TD Ameritrade in an all‑stock transaction valued at approximately $26 billion. Cravath is representing the Ricketts family in connection with the transaction.
Deals & Cases
August 26, 2019
On August 26, 2019, Pitney Bowes Inc., a global technology company that provides commerce solutions in the areas of e‑commerce, shipping, mailing, data, and financial services, announced that it has entered into a definitive agreement to sell its Software Solutions business to Syncsort for $700 million in cash. Cravath is representing Pitney Bowes in connection with the transaction.
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