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Four Decades for Justice

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Margaret T.
Segall

Partner, Litigation

msegall@cravath.com
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Maggie Segall is a member of the Antitrust Practice. Her practice focuses on transactional matters, antitrust regulatory approval, government investigations and general antitrust counseling. She has advised a wide variety of clients in diverse industries, including aerospace and aviation, pharmaceuticals, life sciences, consumer products, media, manufacturing and technology.

Ms. Segall has represented clients on antitrust issues in connection with numerous proposed or completed deals. These representations include:

  • Deutsche Börse AG’s €3.9 billion recommended takeover offer for SimCorp A/S;
  • Altra Industrial’s $5 billion acquisition by Regal Rexnord;

  • RWE AG’s $6.8 billion acquisition of Con Edison Clean Energy Businesses;

  • ADT’s $1.2 billion equity investment from State Farm;

  • Micro Focus’s $6 billion acquisition by OpenText Corp;

  • Global Blood Therapeutics’s $5.4 billion acquisition by Pfizer;

  • Viatris’s $3.335 billion combination of its biosimilars portfolio with Biocon Biologics;
  • Afterpay Limited’s $29 billion acquisition by Square;
  • GW Pharmaceuticals plc’s $7.2 billion acquisition by Jazz Pharmaceuticals plc;
  • National Grid’s £7.8 billion acquisition of Western Power Distribution from PPL and the $3.8 billion sale of Narragansett Electric to PPL;
  • AerCap Holdings N.V.’s $30 billion acquisition of GE Capital Aviation Services and $5.4 billion acquisition of International Lease Finance Corporation;
  • DiaSorin S.p.A.’s $1.8 billion acquisition of Luminex Corporation;
  • Centrica plc’s $3.625 billion divestiture of its North American energy supply, services and trading business (Direct Energy) to NRG Energy;
  • Mylan N.V.’s $50 billion combination with Upjohn, a division of Pfizer, to form Viatris; its $9.9 billion acquisition of Meda and its $5.6 billion acquisition of Abbott Laboratories’ non-U.S. developed markets specialty and branded generics business;
  • Occidental Petroleum Corp.’s $57 billion acquisition of Anadarko Petroleum Corp.;
  • US Foods Holding Corp.’s $1.8 billion acquisition of five operating companies of Services Group of America;
  • Pinnacle Foods Inc.’s $10.9 billion acquisition by Conagra Brands, Inc.;
  • Time Warner Inc.’s $109 billion sale to AT&T, including winning the lawsuit filed by the DOJ seeking to block the merger, which culminated in a six-week trial;
  • DreamWorks Animation SKG, Inc.’s $4.1 billion sale to NBCUniversal, LLC, a division of Comcast Corporation;
  • Anheuser-Busch InBev’s $123 billion acquisition of SABMiller and the $12 billion sale of SABMiller’s U.S. and global Miller-branded businesses to Molson Coors;
  • Alere’s $8 billion acquisition by Abbott Laboratories;
  • H.J. Heinz Company’s $60 billion merger with Kraft Foods Group to create The Kraft Heinz Company;
  • Unilever’s acquisitions of Murad and Dermalogica and its $2.15 billion sale of its North America pasta sauces business under the Ragú and Bertolli brands to Mizkan Group;
  • Integrys Energy Group’s $9.1 billion acquisition by Wisconsin Energy Corporation;
  • InterMune’s $8.9 billion acquisition by Roche;
  • Grupo Modelo’s $20.1 billion acquisition by Anheuser-Busch InBev;
  • Zale Corporation’s $1.4 billion acquisition by Signet Jewelers; and
  • Life Technologies’ $15.8 billion sale to Thermo Fisher Scientific.

Additionally, Ms. Segall is representing Corteva in antitrust litigation brought by the FTC and 10 state attorneys general challenging certain of its rebate pricing programs as anticompetitive. She also represents Corteva in related putative class action litigation, centralized in North Carolina federal court, filed in the wake of the FTC’s complaint.

Ms. Segall has been repeatedly recognized for her antitrust work by Chambers USA and The Legal 500 US. In 2022, she was named to Bloomberg Law’s “40 Under 40” list and, in 2020, she was named to Global Competition Review’s “40 Under 40” list, which recognizes the top young antitrust lawyers in the world. Who’s Who Legal has also consistently recommended Ms. Segall for her antitrust work, including naming her the “Most Highly Regarded Future Leader” in Competition in North America in 2019. Ms. Segall has been named by Benchmark Litigation as a “Future Star” and included on its “40 & Under List.” Lawdragon has included her on its “500 Leading Litigators in America” list. She has also been repeatedly recognized by Super Lawyers for her litigation work. In 2018, she was recognized as one of Law360’s “Rising Stars” in Competition and also received Euromoney Legal Media Group’s 2018 Rising Star Award for “Best in Antitrust/Competition.”

Ms. Segall is a Fellow of the American Bar Foundation and is a member of the International Bar Association’s, American Bar Association’s and the New York State Bar Association’s Antitrust Sections.

Ms. Segall was born in Ann Arbor, Michigan. She received an A.B. degree magna cum laude from Harvard College in 2003, where she concentrated in History. She received a J.D. degree cum laude from Harvard Law School in 2008, where she was a member of the Board of Student Advisors and the International Law Journal and the president of Harvard Law School’s wine appreciation society.

Ms. Segall joined Cravath in 2008 and was elected a partner in 2016.

Ms. Segall has represented clients on antitrust issues in connection with numerous proposed or completed deals. These representations include:

  • Deutsche Börse AG’s €3.9 billion recommended takeover offer for SimCorp A/S;
  • Altra Industrial’s $5 billion acquisition by Regal Rexnord;

  • RWE AG’s $6.8 billion acquisition of Con Edison Clean Energy Businesses;

  • ADT’s $1.2 billion equity investment from State Farm;

  • Micro Focus’s $6 billion acquisition by OpenText Corp;

  • Global Blood Therapeutics’s $5.4 billion acquisition by Pfizer;

  • Viatris’s $3.335 billion combination of its biosimilars portfolio with Biocon Biologics;
  • Afterpay Limited’s $29 billion acquisition by Square;
  • GW Pharmaceuticals plc’s $7.2 billion acquisition by Jazz Pharmaceuticals plc;
  • National Grid’s £7.8 billion acquisition of Western Power Distribution from PPL and the $3.8 billion sale of Narragansett Electric to PPL;
  • AerCap Holdings N.V.’s $30 billion acquisition of GE Capital Aviation Services and $5.4 billion acquisition of International Lease Finance Corporation;
  • DiaSorin S.p.A.’s $1.8 billion acquisition of Luminex Corporation;
  • Centrica plc’s $3.625 billion divestiture of its North American energy supply, services and trading business (Direct Energy) to NRG Energy;
  • Mylan N.V.’s $50 billion combination with Upjohn, a division of Pfizer, to form Viatris; its $9.9 billion acquisition of Meda and its $5.6 billion acquisition of Abbott Laboratories’ non-U.S. developed markets specialty and branded generics business;
  • Occidental Petroleum Corp.’s $57 billion acquisition of Anadarko Petroleum Corp.;
  • US Foods Holding Corp.’s $1.8 billion acquisition of five operating companies of Services Group of America;
  • Pinnacle Foods Inc.’s $10.9 billion acquisition by Conagra Brands, Inc.;
  • Time Warner Inc.’s $109 billion sale to AT&T, including winning the lawsuit filed by the DOJ seeking to block the merger, which culminated in a six-week trial;
  • DreamWorks Animation SKG, Inc.’s $4.1 billion sale to NBCUniversal, LLC, a division of Comcast Corporation;
  • Anheuser-Busch InBev’s $123 billion acquisition of SABMiller and the $12 billion sale of SABMiller’s U.S. and global Miller-branded businesses to Molson Coors;
  • Alere’s $8 billion acquisition by Abbott Laboratories;
  • H.J. Heinz Company’s $60 billion merger with Kraft Foods Group to create The Kraft Heinz Company;
  • Unilever’s acquisitions of Murad and Dermalogica and its $2.15 billion sale of its North America pasta sauces business under the Ragú and Bertolli brands to Mizkan Group;
  • Integrys Energy Group’s $9.1 billion acquisition by Wisconsin Energy Corporation;
  • InterMune’s $8.9 billion acquisition by Roche;
  • Grupo Modelo’s $20.1 billion acquisition by Anheuser-Busch InBev;
  • Zale Corporation’s $1.4 billion acquisition by Signet Jewelers; and
  • Life Technologies’ $15.8 billion sale to Thermo Fisher Scientific.

Additionally, Ms. Segall is representing Corteva in antitrust litigation brought by the FTC and 10 state attorneys general challenging certain of its rebate pricing programs as anticompetitive. She also represents Corteva in related putative class action litigation, centralized in North Carolina federal court, filed in the wake of the FTC’s complaint.

Ms. Segall has been repeatedly recognized for her antitrust work by Chambers USA and The Legal 500 US. In 2022, she was named to Bloomberg Law’s “40 Under 40” list and, in 2020, she was named to Global Competition Review’s “40 Under 40” list, which recognizes the top young antitrust lawyers in the world. Who’s Who Legal has also consistently recommended Ms. Segall for her antitrust work, including naming her the “Most Highly Regarded Future Leader” in Competition in North America in 2019. Ms. Segall has been named by Benchmark Litigation as a “Future Star” and included on its “40 & Under List.” Lawdragon has included her on its “500 Leading Litigators in America” list. She has also been repeatedly recognized by Super Lawyers for her litigation work. In 2018, she was recognized as one of Law360’s “Rising Stars” in Competition and also received Euromoney Legal Media Group’s 2018 Rising Star Award for “Best in Antitrust/Competition.”

Ms. Segall is a Fellow of the American Bar Foundation and is a member of the International Bar Association’s, American Bar Association’s and the New York State Bar Association’s Antitrust Sections.

Ms. Segall was born in Ann Arbor, Michigan. She received an A.B. degree magna cum laude from Harvard College in 2003, where she concentrated in History. She received a J.D. degree cum laude from Harvard Law School in 2008, where she was a member of the Board of Student Advisors and the International Law Journal and the president of Harvard Law School’s wine appreciation society.

Ms. Segall joined Cravath in 2008 and was elected a partner in 2016.

Education

  • J.D., 2008, Harvard Law School
    cum laude
  • A.B., 2003, Harvard College
    magna cum laude

Admitted In

  • New York

Professional Affiliations

American Bar Foundation

  • Fellow, since 2019

American Bar Association

International Bar Association

New York State Bar Association

Rankings

Benchmark Litigation

  • Future Star (2023-2019)
  • 40 & Under List (2022-2017)

Bloomberg Law

  • They’ve Got Next: The 40 Under 40 (2022)

Chambers USA

  • Antitrust - New York (2022-2019)

Global Competition Review

  • 40 Under 40 (2020)

Law360

  • Rising Star: Competition Lawyers Under 40 to Watch (2018)

Lawdragon

  • 500 Leading Litigators in America (2022)

The Legal 500 US

  • Antitrust (2022-2019)

Super Lawyers - New York

  • Antitrust Litigation (2021)
  • General Litigation – Rising Stars (2019‑2015)

Who’s Who Legal

  • Competition (2021-2017)
  • #1 Most Highly Regarded Future Leader in Competition - North America (2019)

Americas Rising Star Awards - Best in Antitrust/Competition, Euromoney Legal Media Group (2018)

Deals & Cases

May 15, 2023

Newcrest’s A$28.8 Billion Acquisition by Newmont

On May 15, 2023, Newcrest Mining Limited (“Newcrest”) announced it has entered into a binding scheme implementation deed with Newmont Corporation (“Newmont”), in relation to a proposal for Newmont to acquire 100% of the issued shares in Newcrest by way of a scheme of arrangement. Under the terms of the agreement, Newcrest shareholders will be entitled to receive 0.400 Newmont shares for each Newcrest share held (“Scheme Consideration”). In addition, Newcrest will be permitted to pay a franked special dividend of up to $1.10 per share on or around the implementation of the scheme of arrangement. The Scheme Consideration which would be received by Newcrest shareholders under the proposed transaction, when aggregated with the franked special dividend, represents an implied equity value of A$26.2 billion and enterprise value for Newcrest of A$28.8 billion. Cravath is representing Newcrest as U.S. counsel in connection with the transaction.

Deals & Cases

May 12, 2023

The Snyder Family’s Pending Sale of the Washington Commanders to Josh Harris and Partners

On May 12, 2023, the Washington Commanders and a partnership led by Josh Harris announced they have entered into a purchase and sale agreement which calls for Harris and partners to acquire the Washington Commanders from the Snyder family. The agreement is subject to NFL approval as well as the satisfaction of customary closing conditions. Cravath is representing the Snyder family in connection with the transaction.

Deals & Cases

April 27, 2023

Deutsche Börse AG’s €3.9 Billion Recommended Takeover Offer for SimCorp A/S

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.

Deals & Cases

February 17, 2023

WiseTech Global’s Acquisition of Blume Global

On February 17, 2023, WiseTech Global, developer of the leading logistics execution software CargoWise, announced its acquisition of Blume Global (“Blume”), provider of a leading solution facilitating intermodal rail in North America, for $414 million. Blume is being acquired from funds managed by Apollo, EQT and other minority shareholders. Cravath is representing WiseTech Global in connection with the transaction.

Deals & Cases

February 02, 2023

FS Investments’ Combination with Portfolio Advisors, Creating $73 Billion Alternative Investment Firm

On February 2, 2023, FS Investments, a pioneer in the democratization of alternative investments with more than $35 billion in assets under management, and Portfolio Advisors, a global middle‑market private asset specialist with more than $38 billion in assets under management, announced they have entered into a definitive agreement to combine their firms. The combined company will be poised for growth with over $73 billion in assets under management, including a significant permanent capital base, and a robust distribution platform. Cravath is representing FS Investments in connection with the transaction.

Activities & Publications

March 17, 2023

Andrew Wark and Maggie Segall Author Chapter on U.S. Antitrust Enforcement Trends in Deal‑Making for the International Comparative Legal Guide’s “Mergers & Acquisitions 2023”

Cravath partners Andrew M. Wark and Margaret T. Segall authored a chapter for the International Comparative Legal Guide’s “Mergers & Acquisitions 2023,” which provides cross border insights into mergers and acquisitions and was published by Global Legal Group on March 16, 2023. The chapter, entitled “Key Drivers and Trends: Deal‑Making in an Era of Heightened Antitrust Enforcement,” examines how companies considering M&A transactions in the United States have faced an evolving antitrust landscape, including changed enforcement practices and merger review procedures.

Activities & Publications

March 03, 2023

G.J. Ligelis Jr., Alyssa Caples, Chris Fargo and Maggie Segall Co-Author U.S. Chapters of Chambers “Investing In… 2023” Guide

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 third edition of Chambers “Investing In… 2023” Guide, which was published in January 2023. 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 33 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.

Activities & Publications

February 13, 2023

DOJ Antitrust Division Withdraws Three Healthcare Policy Statements as Part of Increasing Antitrust Scrutiny of Information‑Sharing Practices

On February 10, 2023, Cravath prepared a memo for its clients entitled “DOJ Antitrust Division Withdraws Three Healthcare Policy Statements as Part of Increasing Antitrust Scrutiny of Information‑Sharing Practices.” The memo examines the U.S. Department of Justice Antitrust Division’s recent announcement of its withdrawal of three policy statements from 1993, 1996 and 2011, respectively, which provided “safety zones” for certain practices in the healthcare industry. The memo concludes that companies should be cautious when participating in information exchanges or other forms of collaboration with competitors given the agency’s increasing scrutiny of information-sharing practices.

Activities & Publications

February 07, 2023

Maggie Segall Moderates Panel at GCR Live: Law Leaders Global 2023

On February 2, 2023, Cravath partner Margaret T. Segall participated in the Global Competition Review Live: Law Leaders Global 2023 program, held in Miami, Florida from February 2‑3, 2023. Maggie moderated a panel entitled “Mergers: Potential Competition and Innovation as Theories of Harm in Merger Reviews,” which discussed recent cases that focused on unconventional theories of harm, the markets that are particularly susceptible to innovation theories of harm in merger reviews, whether enforcers are demonstrating a greater desire to investigate and impose remedies on these types of mergers, and how different jurisdictions are treating the same or similar facts.

Activities & Publications

January 12, 2023

FTC Proposes Rule Banning Noncompete Clauses with Workers

On January 11, 2023, Cravath prepared a memo for its clients entitled “FTC Proposes Rule Banning Noncompete Clauses with Workers,” which examines the agency’s recent notice of a proposed rule banning noncompete clauses as a violation of Section 5 of the Federal Trade Commission Act. The memo outlines key takeaways from the proposed rule and recent noncompete clause enforcement actions, as well as legal issues concerning the FTC’s rulemaking authority. The memo also concludes that the FTC’s decision to ban noncompete clauses reflects the agency’s desire to expand its authority and use competition rulemaking to address labor concerns, as well as other issues.

Maggie Segall is a member of the Antitrust Practice. Her practice focuses on transactional matters, antitrust regulatory approval, government investigations and general antitrust counseling. She has advised a wide variety of clients in diverse industries, including aerospace and aviation, pharmaceuticals, life sciences, consumer products, media, manufacturing and technology.

Ms. Segall has represented clients on antitrust issues in connection with numerous proposed or completed deals. These representations include:

  • Deutsche Börse AG’s €3.9 billion recommended takeover offer for SimCorp A/S;
  • Altra Industrial’s $5 billion acquisition by Regal Rexnord;

  • RWE AG’s $6.8 billion acquisition of Con Edison Clean Energy Businesses;

  • ADT’s $1.2 billion equity investment from State Farm;

  • Micro Focus’s $6 billion acquisition by OpenText Corp;

  • Global Blood Therapeutics’s $5.4 billion acquisition by Pfizer;

  • Viatris’s $3.335 billion combination of its biosimilars portfolio with Biocon Biologics;
  • Afterpay Limited’s $29 billion acquisition by Square;
  • GW Pharmaceuticals plc’s $7.2 billion acquisition by Jazz Pharmaceuticals plc;
  • National Grid’s £7.8 billion acquisition of Western Power Distribution from PPL and the $3.8 billion sale of Narragansett Electric to PPL;
  • AerCap Holdings N.V.’s $30 billion acquisition of GE Capital Aviation Services and $5.4 billion acquisition of International Lease Finance Corporation;
  • DiaSorin S.p.A.’s $1.8 billion acquisition of Luminex Corporation;
  • Centrica plc’s $3.625 billion divestiture of its North American energy supply, services and trading business (Direct Energy) to NRG Energy;
  • Mylan N.V.’s $50 billion combination with Upjohn, a division of Pfizer, to form Viatris; its $9.9 billion acquisition of Meda and its $5.6 billion acquisition of Abbott Laboratories’ non-U.S. developed markets specialty and branded generics business;
  • Occidental Petroleum Corp.’s $57 billion acquisition of Anadarko Petroleum Corp.;
  • US Foods Holding Corp.’s $1.8 billion acquisition of five operating companies of Services Group of America;
  • Pinnacle Foods Inc.’s $10.9 billion acquisition by Conagra Brands, Inc.;
  • Time Warner Inc.’s $109 billion sale to AT&T, including winning the lawsuit filed by the DOJ seeking to block the merger, which culminated in a six-week trial;
  • DreamWorks Animation SKG, Inc.’s $4.1 billion sale to NBCUniversal, LLC, a division of Comcast Corporation;
  • Anheuser-Busch InBev’s $123 billion acquisition of SABMiller and the $12 billion sale of SABMiller’s U.S. and global Miller-branded businesses to Molson Coors;
  • Alere’s $8 billion acquisition by Abbott Laboratories;
  • H.J. Heinz Company’s $60 billion merger with Kraft Foods Group to create The Kraft Heinz Company;
  • Unilever’s acquisitions of Murad and Dermalogica and its $2.15 billion sale of its North America pasta sauces business under the Ragú and Bertolli brands to Mizkan Group;
  • Integrys Energy Group’s $9.1 billion acquisition by Wisconsin Energy Corporation;
  • InterMune’s $8.9 billion acquisition by Roche;
  • Grupo Modelo’s $20.1 billion acquisition by Anheuser-Busch InBev;
  • Zale Corporation’s $1.4 billion acquisition by Signet Jewelers; and
  • Life Technologies’ $15.8 billion sale to Thermo Fisher Scientific.

Additionally, Ms. Segall is representing Corteva in antitrust litigation brought by the FTC and 10 state attorneys general challenging certain of its rebate pricing programs as anticompetitive. She also represents Corteva in related putative class action litigation, centralized in North Carolina federal court, filed in the wake of the FTC’s complaint.

Ms. Segall has been repeatedly recognized for her antitrust work by Chambers USA and The Legal 500 US. In 2022, she was named to Bloomberg Law’s “40 Under 40” list and, in 2020, she was named to Global Competition Review’s “40 Under 40” list, which recognizes the top young antitrust lawyers in the world. Who’s Who Legal has also consistently recommended Ms. Segall for her antitrust work, including naming her the “Most Highly Regarded Future Leader” in Competition in North America in 2019. Ms. Segall has been named by Benchmark Litigation as a “Future Star” and included on its “40 & Under List.” Lawdragon has included her on its “500 Leading Litigators in America” list. She has also been repeatedly recognized by Super Lawyers for her litigation work. In 2018, she was recognized as one of Law360’s “Rising Stars” in Competition and also received Euromoney Legal Media Group’s 2018 Rising Star Award for “Best in Antitrust/Competition.”

Ms. Segall is a Fellow of the American Bar Foundation and is a member of the International Bar Association’s, American Bar Association’s and the New York State Bar Association’s Antitrust Sections.

Ms. Segall was born in Ann Arbor, Michigan. She received an A.B. degree magna cum laude from Harvard College in 2003, where she concentrated in History. She received a J.D. degree cum laude from Harvard Law School in 2008, where she was a member of the Board of Student Advisors and the International Law Journal and the president of Harvard Law School’s wine appreciation society.

Ms. Segall joined Cravath in 2008 and was elected a partner in 2016.

Ms. Segall has represented clients on antitrust issues in connection with numerous proposed or completed deals. These representations include:

  • Deutsche Börse AG’s €3.9 billion recommended takeover offer for SimCorp A/S;
  • Altra Industrial’s $5 billion acquisition by Regal Rexnord;

  • RWE AG’s $6.8 billion acquisition of Con Edison Clean Energy Businesses;

  • ADT’s $1.2 billion equity investment from State Farm;

  • Micro Focus’s $6 billion acquisition by OpenText Corp;

  • Global Blood Therapeutics’s $5.4 billion acquisition by Pfizer;

  • Viatris’s $3.335 billion combination of its biosimilars portfolio with Biocon Biologics;
  • Afterpay Limited’s $29 billion acquisition by Square;
  • GW Pharmaceuticals plc’s $7.2 billion acquisition by Jazz Pharmaceuticals plc;
  • National Grid’s £7.8 billion acquisition of Western Power Distribution from PPL and the $3.8 billion sale of Narragansett Electric to PPL;
  • AerCap Holdings N.V.’s $30 billion acquisition of GE Capital Aviation Services and $5.4 billion acquisition of International Lease Finance Corporation;
  • DiaSorin S.p.A.’s $1.8 billion acquisition of Luminex Corporation;
  • Centrica plc’s $3.625 billion divestiture of its North American energy supply, services and trading business (Direct Energy) to NRG Energy;
  • Mylan N.V.’s $50 billion combination with Upjohn, a division of Pfizer, to form Viatris; its $9.9 billion acquisition of Meda and its $5.6 billion acquisition of Abbott Laboratories’ non-U.S. developed markets specialty and branded generics business;
  • Occidental Petroleum Corp.’s $57 billion acquisition of Anadarko Petroleum Corp.;
  • US Foods Holding Corp.’s $1.8 billion acquisition of five operating companies of Services Group of America;
  • Pinnacle Foods Inc.’s $10.9 billion acquisition by Conagra Brands, Inc.;
  • Time Warner Inc.’s $109 billion sale to AT&T, including winning the lawsuit filed by the DOJ seeking to block the merger, which culminated in a six-week trial;
  • DreamWorks Animation SKG, Inc.’s $4.1 billion sale to NBCUniversal, LLC, a division of Comcast Corporation;
  • Anheuser-Busch InBev’s $123 billion acquisition of SABMiller and the $12 billion sale of SABMiller’s U.S. and global Miller-branded businesses to Molson Coors;
  • Alere’s $8 billion acquisition by Abbott Laboratories;
  • H.J. Heinz Company’s $60 billion merger with Kraft Foods Group to create The Kraft Heinz Company;
  • Unilever’s acquisitions of Murad and Dermalogica and its $2.15 billion sale of its North America pasta sauces business under the Ragú and Bertolli brands to Mizkan Group;
  • Integrys Energy Group’s $9.1 billion acquisition by Wisconsin Energy Corporation;
  • InterMune’s $8.9 billion acquisition by Roche;
  • Grupo Modelo’s $20.1 billion acquisition by Anheuser-Busch InBev;
  • Zale Corporation’s $1.4 billion acquisition by Signet Jewelers; and
  • Life Technologies’ $15.8 billion sale to Thermo Fisher Scientific.

Additionally, Ms. Segall is representing Corteva in antitrust litigation brought by the FTC and 10 state attorneys general challenging certain of its rebate pricing programs as anticompetitive. She also represents Corteva in related putative class action litigation, centralized in North Carolina federal court, filed in the wake of the FTC’s complaint.

Ms. Segall has been repeatedly recognized for her antitrust work by Chambers USA and The Legal 500 US. In 2022, she was named to Bloomberg Law’s “40 Under 40” list and, in 2020, she was named to Global Competition Review’s “40 Under 40” list, which recognizes the top young antitrust lawyers in the world. Who’s Who Legal has also consistently recommended Ms. Segall for her antitrust work, including naming her the “Most Highly Regarded Future Leader” in Competition in North America in 2019. Ms. Segall has been named by Benchmark Litigation as a “Future Star” and included on its “40 & Under List.” Lawdragon has included her on its “500 Leading Litigators in America” list. She has also been repeatedly recognized by Super Lawyers for her litigation work. In 2018, she was recognized as one of Law360’s “Rising Stars” in Competition and also received Euromoney Legal Media Group’s 2018 Rising Star Award for “Best in Antitrust/Competition.”

Ms. Segall is a Fellow of the American Bar Foundation and is a member of the International Bar Association’s, American Bar Association’s and the New York State Bar Association’s Antitrust Sections.

Ms. Segall was born in Ann Arbor, Michigan. She received an A.B. degree magna cum laude from Harvard College in 2003, where she concentrated in History. She received a J.D. degree cum laude from Harvard Law School in 2008, where she was a member of the Board of Student Advisors and the International Law Journal and the president of Harvard Law School’s wine appreciation society.

Ms. Segall joined Cravath in 2008 and was elected a partner in 2016.

Education

  • J.D., 2008, Harvard Law School
    cum laude
  • A.B., 2003, Harvard College
    magna cum laude

Admitted In

  • New York

Professional Affiliations

American Bar Foundation

  • Fellow, since 2019

American Bar Association

International Bar Association

New York State Bar Association

Rankings

Benchmark Litigation

  • Future Star (2023-2019)
  • 40 & Under List (2022-2017)

Bloomberg Law

  • They’ve Got Next: The 40 Under 40 (2022)

Chambers USA

  • Antitrust - New York (2022-2019)

Global Competition Review

  • 40 Under 40 (2020)

Law360

  • Rising Star: Competition Lawyers Under 40 to Watch (2018)

Lawdragon

  • 500 Leading Litigators in America (2022)

The Legal 500 US

  • Antitrust (2022-2019)

Super Lawyers - New York

  • Antitrust Litigation (2021)
  • General Litigation – Rising Stars (2019‑2015)

Who’s Who Legal

  • Competition (2021-2017)
  • #1 Most Highly Regarded Future Leader in Competition - North America (2019)

Americas Rising Star Awards - Best in Antitrust/Competition, Euromoney Legal Media Group (2018)

Deals & Cases

May 15, 2023

Newcrest’s A$28.8 Billion Acquisition by Newmont

On May 15, 2023, Newcrest Mining Limited (“Newcrest”) announced it has entered into a binding scheme implementation deed with Newmont Corporation (“Newmont”), in relation to a proposal for Newmont to acquire 100% of the issued shares in Newcrest by way of a scheme of arrangement. Under the terms of the agreement, Newcrest shareholders will be entitled to receive 0.400 Newmont shares for each Newcrest share held (“Scheme Consideration”). In addition, Newcrest will be permitted to pay a franked special dividend of up to $1.10 per share on or around the implementation of the scheme of arrangement. The Scheme Consideration which would be received by Newcrest shareholders under the proposed transaction, when aggregated with the franked special dividend, represents an implied equity value of A$26.2 billion and enterprise value for Newcrest of A$28.8 billion. Cravath is representing Newcrest as U.S. counsel in connection with the transaction.

Deals & Cases

May 12, 2023

The Snyder Family’s Pending Sale of the Washington Commanders to Josh Harris and Partners

On May 12, 2023, the Washington Commanders and a partnership led by Josh Harris announced they have entered into a purchase and sale agreement which calls for Harris and partners to acquire the Washington Commanders from the Snyder family. The agreement is subject to NFL approval as well as the satisfaction of customary closing conditions. Cravath is representing the Snyder family in connection with the transaction.

Deals & Cases

April 27, 2023

Deutsche Börse AG’s €3.9 Billion Recommended Takeover Offer for SimCorp A/S

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.

Deals & Cases

February 17, 2023

WiseTech Global’s Acquisition of Blume Global

On February 17, 2023, WiseTech Global, developer of the leading logistics execution software CargoWise, announced its acquisition of Blume Global (“Blume”), provider of a leading solution facilitating intermodal rail in North America, for $414 million. Blume is being acquired from funds managed by Apollo, EQT and other minority shareholders. Cravath is representing WiseTech Global in connection with the transaction.

Deals & Cases

February 02, 2023

FS Investments’ Combination with Portfolio Advisors, Creating $73 Billion Alternative Investment Firm

On February 2, 2023, FS Investments, a pioneer in the democratization of alternative investments with more than $35 billion in assets under management, and Portfolio Advisors, a global middle‑market private asset specialist with more than $38 billion in assets under management, announced they have entered into a definitive agreement to combine their firms. The combined company will be poised for growth with over $73 billion in assets under management, including a significant permanent capital base, and a robust distribution platform. Cravath is representing FS Investments in connection with the transaction.

Activities & Publications

March 17, 2023

Andrew Wark and Maggie Segall Author Chapter on U.S. Antitrust Enforcement Trends in Deal‑Making for the International Comparative Legal Guide’s “Mergers & Acquisitions 2023”

Cravath partners Andrew M. Wark and Margaret T. Segall authored a chapter for the International Comparative Legal Guide’s “Mergers & Acquisitions 2023,” which provides cross border insights into mergers and acquisitions and was published by Global Legal Group on March 16, 2023. The chapter, entitled “Key Drivers and Trends: Deal‑Making in an Era of Heightened Antitrust Enforcement,” examines how companies considering M&A transactions in the United States have faced an evolving antitrust landscape, including changed enforcement practices and merger review procedures.

Activities & Publications

March 03, 2023

G.J. Ligelis Jr., Alyssa Caples, Chris Fargo and Maggie Segall Co-Author U.S. Chapters of Chambers “Investing In… 2023” Guide

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 third edition of Chambers “Investing In… 2023” Guide, which was published in January 2023. 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 33 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.

Activities & Publications

February 13, 2023

DOJ Antitrust Division Withdraws Three Healthcare Policy Statements as Part of Increasing Antitrust Scrutiny of Information‑Sharing Practices

On February 10, 2023, Cravath prepared a memo for its clients entitled “DOJ Antitrust Division Withdraws Three Healthcare Policy Statements as Part of Increasing Antitrust Scrutiny of Information‑Sharing Practices.” The memo examines the U.S. Department of Justice Antitrust Division’s recent announcement of its withdrawal of three policy statements from 1993, 1996 and 2011, respectively, which provided “safety zones” for certain practices in the healthcare industry. The memo concludes that companies should be cautious when participating in information exchanges or other forms of collaboration with competitors given the agency’s increasing scrutiny of information-sharing practices.

Activities & Publications

February 07, 2023

Maggie Segall Moderates Panel at GCR Live: Law Leaders Global 2023

On February 2, 2023, Cravath partner Margaret T. Segall participated in the Global Competition Review Live: Law Leaders Global 2023 program, held in Miami, Florida from February 2‑3, 2023. Maggie moderated a panel entitled “Mergers: Potential Competition and Innovation as Theories of Harm in Merger Reviews,” which discussed recent cases that focused on unconventional theories of harm, the markets that are particularly susceptible to innovation theories of harm in merger reviews, whether enforcers are demonstrating a greater desire to investigate and impose remedies on these types of mergers, and how different jurisdictions are treating the same or similar facts.

Activities & Publications

January 12, 2023

FTC Proposes Rule Banning Noncompete Clauses with Workers

On January 11, 2023, Cravath prepared a memo for its clients entitled “FTC Proposes Rule Banning Noncompete Clauses with Workers,” which examines the agency’s recent notice of a proposed rule banning noncompete clauses as a violation of Section 5 of the Federal Trade Commission Act. The memo outlines key takeaways from the proposed rule and recent noncompete clause enforcement actions, as well as legal issues concerning the FTC’s rulemaking authority. The memo also concludes that the FTC’s decision to ban noncompete clauses reflects the agency’s desire to expand its authority and use competition rulemaking to address labor concerns, as well as other issues.

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