Benjamin G.
Joseloff

On April 27, 2023, Deutsche Börse AG, an international exchange organization and market infrastructure provider, and SimCorp A/S, which offers a front‑to‑back investment management platform and ecosystem used by asset owners and managers, entered into a binding agreement pursuant to which Deutsche Börse AG will make an all cash voluntary recommended public takeover offer to acquire all the shares (except treasury shares) in SimCorp A/S at a price of DKK 735.0 per share, adjusted for any dividends or other distributions paid by SimCorp A/S prior to completion of the offer, valuing the entire issued capital of SimCorp A/S at €3.9 billion. In parallel to the takeover of SimCorp A/S, Deutsche Börse AG intends to combine its existing data & analytics subsidiaries Qontigo and ISS under one leadership. Upon completion of the offer, the intended combination of Qontigo/ISS and SimCorp A/S will be grouped within a newly created Investment Management Solutions segment. Cravath is representing Deutsche Börse AG as U.S. counsel in connection with the transactions.

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.

On March 8, 2023, Airspan Networks Holdings (“Airspan”), a provider of software and hardware for 5G networks and a pioneer in end‑to‑end Open RAN solutions that provide interoperability with other vendors, announced the signing of definitive agreements for the sale of Mimosa Networks, Inc. (“Mimosa”) to Radisys Corporation (“Radisys”), a wholly owned subsidiary of Jio Platforms Limited, which is a subsidiary of Reliance Industries Limited, on a debt free, cash free basis. Cravath is representing Airspan in connection with the transaction.

On March 6, 2023, LexisNexis® Risk Solutions, part of RELX, a global provider of information‑based analytics and decision tools for professional and business customers, announced it has entered into a definitive agreement to acquire Human API, a leading provider of consumer‑driven health data to life insurance and healthcare customers. Cravath is representing RELX in connection with the transaction.

On March 1, 2023, Radius Global Infrastructure, Inc. (“Radius”), a leading global aggregator of real property interests underlying wireless telecommunications cell sites and other digital infrastructure assets, announced it has entered into a definitive agreement under which EQT Active Core Infrastructure and Public Sector Pension Investment Board (“PSP Investments”) will indirectly acquire Radius for $15.00 per share in cash, representing a total enterprise value of approximately $3 billion. Upon completion of the transaction, Radius will be a privately held company indirectly wholly owned by EQT Active Core Infrastructure and PSP Investments, as well as Radius management. Radius shares will no longer be listed on any public securities exchange. Cravath is representing Radius in connection with the transaction.

On May 2, 2023, Cravath partners Benjamin Gruenstein and Daniel J. Cerqueira and of counsel Benjamin G. Joseloff participated in the American Bar Association’s 2023 International Law Section Annual Conference, which was held from May 2‑4, 2023 in New York.

On May 1, 2023, Cravath of counsel Benjamin G. Joseloff participated in a program entitled “Learning to Thrive in an Era of Fragmented Globalization,” which was hosted by the Arthur and Toni Rembe Rock Center for Corporate Governance at Stanford University in Palo Alto, CA. Ben co‑facilitated a session on the Committee on Foreign Investment in the United States (“CFIUS”) and reverse CFIUS, which explored the challenges of the CFIUS process and the possible parameters of a new outbound investment screening regime.

On April 12, 2023, Cravath of counsel Benjamin G. Joseloff participated in the 9th National Conference on CFIUS, which was hosted by the American Conference Institute from April 12-14, 2023 in Arlington, VA. Ben spoke on a panel entitled “Introduction to CFIUS Filings: Your A‑to‑Z Guide to the CFIUS Compliance Process, Including Filings, Timelines, Enforcement, and Penalties,” which reviewed the basic regulatory standard necessary for a Committee for Foreign Investment in the United States (“CFIUS”) filing, the national security reasons for CFIUS filings, the scrutiny given to filings and the processing timelines.

On October 13, 2022, Cravath of counsel Benjamin G. Joseloff participated in the 4th Annual U.S.‑China Trade Controls Conference, which was hosted by the American Conference Institute from October 12‑13, 2022 in Washington, D.C. Ben spoke on a panel entitled “Inbound and Outbound Foreign Direct Investment: Special Considerations for CFIUS and U.S. Investment in China—and the Interplay of Export Controls.” The panelists discussed the interplay of export controls and CFIUS under FIRRMA and reviewed current U.S. restrictions on certain investments in China.

On June 15, 2022, Cravath elected Benjamin G. Joseloff and Megan Y. Lew as of counsels and Marc J. Khadpe and Jenny X. Zhang as senior attorneys of the Firm.