G.J.
Ligelis Jr.

On February 24, 2025, Bridge Investment Group Holdings Inc. (“Bridge”), a leading alternative investment manager diversified across specialized asset classes, and Apollo Global Management, Inc. (“Apollo”) announced they have entered into a definitive agreement for Apollo to acquire Bridge in an all‑stock transaction with an equity value of approximately $1.5 billion. Under the terms of the transaction, Bridge stockholders and Bridge OpCo unitholders will receive 0.07081 shares of Apollo stock for each share of Bridge Class A common stock and each Bridge OpCo Class A common unit, respectively, valued by the parties at $11.50 per each share of Bridge Class A common stock and Bridge OpCo Class A common unit, respectively. Cravath is representing the special committee of the Bridge Board of Directors in connection with the transaction.

On November 13, 2024, Just Eat Takeaway.com N.V. (“Just Eat Takeaway.com”), one of the world’s leading global online food delivery companies, announced that it has entered into a definitive agreement to sell Grubhub Inc. (“Grubhub”) to Wonder Group, Inc. (“Wonder”) for an enterprise value of $650 million. Grubhub will be transferred with its $500 million of senior notes. Cravath is representing Just Eat Takeaway.com in connection with the transaction.

On November 7, 2024, United States Cellular Corporation (“UScellular”) announced that it has entered into an agreement with AT&T to sell a portion of the company's retained spectrum licenses for total consideration of $1.018 billion. The transaction is part of the objective UScellular announced on May 28, 2024, to opportunistically monetize the spectrum that was not included in the proposed sale to T‑Mobile; and follows the transactions previously announced on October 18, 2024, to sell a portion of the retained spectrum licenses to Verizon and two other mobile network operators. Cravath is representing the independent directors of UScellular in connection with the transaction.

On October 18, 2024, United States Cellular Corporation (“UScellular”) announced that it has entered into an agreement with Verizon Communications Inc. to sell a portion of the company's retained spectrum licenses for total consideration of $1 billion. Additionally, UScellular has entered into agreements with two other mobile network operators for the sale of other selected spectrum licenses. The transactions are part of the objective UScellular announced on May 28, 2024, to monetize the spectrum that was not included in the proposed sale to T-Mobile. Cravath is representing the independent directors of UScellular in connection with the transaction.

On May 28, 2024, United States Cellular Corporation (“UScellular”) announced that it has entered into a definitive agreement to sell its wireless operations and select spectrum assets to T‑Mobile for a purchase price of $4.4 billion, including a combination of cash and up to approximately $2 billion of assumed debt. Under the terms of the agreement, T‑Mobile will acquire UScellular’s wireless operations and approximately 30% of its spectrum assets across several spectrum bands. In addition, T‑Mobile will enter into a new master license agreement with UScellular on more than 2,000 towers. The agreement follows a thorough strategic review process announced in August 2023 and has been unanimously recommended by the independent directors of UScellular and unanimously approved by the Board of Directors of UScellular. Cravath is representing the independent directors of UScellular in connection with the transaction.

Cravath partners G.J. Ligelis Jr., Alyssa K. Caples, Christopher K. Fargo and Margaret T. Segall co‑authored the U.S. Law & Practice chapter of the fifth edition of Chambers “Investing In… 2025” Guide, which was published in January 2025. The guide, which is part of the publisher’s Global Practice Guides series, examines country‑specific legal issues that arise from foreign direct investment (“FDI”) and cross‑border transactions in the more than 30 jurisdictions covered. The U.S. Law & Practice chapter surveys the legal system and regulatory framework for FDI in the country, analyzing the economic climate, as well as considerations related to mergers and acquisitions, corporate governance, capital markets, antitrust, national security, tax, employment and intellectual property.

Cravath partners Benjamin G. Joseloff, George F. Schoen and G.J. Ligelis Jr. co‑authored the U.S. chapter for the International Comparative Legal Guide’s “Foreign Direct Investment Regimes 2025,” which was published by Global Legal Group on November 15, 2024. The chapter examines U.S. foreign investment review policy and the law, regulations and procedures of the Committee on Foreign Investment in the United States (CFIUS), including both jurisdictional and substantive considerations, as well as recent developments.

On October 25, 2024, Cravath partner G.J. Ligelis Jr. spoke at the International Bar Association’s 2024 Asia Pacific Mergers & Acquisitions Conference, which was held from October 24‑25 in Tokyo. G.J. spoke on a panel entitled “All a‑Twitter: Public Battles, Spurned Suitors, What’s Hot and What’s Not,” which surveyed developments and trends in the public M&A landscape, including takeovers, privatizations, tender offers, mergers and schemes.

On July 29, 2024, Cravath partner G.J. Ligelis Jr. was featured in Bloomberg Law’s “They’ve Got Next: 40 Under 40” series, which recognizes “the accomplishments of stellar young lawyers nationwide,” based on their work on key client matters, assumption of leadership roles, pro bono commitments and more. In a Q&A, G.J. described his work on transformative deals, including for client AerCap in its $30 billion acquisition of GE Capital Aviation Services, the largest M&A deal in the history of the aircraft leasing industry. G.J. also highlighted Just Eat Takeaway.com’s $7.3 billion combination with Grubhub as a matter in which he was “particularly proud of” his role, having led the Cravath team representing Just Eat Takeaway.com on M&A matters during his third year as partner. G.J. emphasized the importance of teamwork in providing clients with seamless legal advice and praised the quality of the Firm’s attorneys across practice groups: “Nothing is more rewarding than introducing an M&A client to one of my litigation or investigations partners, capital markets partners or antitrust/regulatory partners and watching my client’s reaction as they realize they get the exact same level of quality, dedication, and personal touch across every area of Cravath.”

On June 18, 2024, Cravath partner G.J. Ligelis Jr. spoke at Business and Law Circle 2024, a conference hosted by Schindler Attorneys in Vienna. The event convened American and European representatives from industries including banking, law, private equity and real estate for panels on a variety of transactional topics. G.J. spoke on both the Private M&A/PE Panel and the Public M&A Panel at the conference.