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Four Decades for Justice

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Matthew J.
Bobby

Partner, Executive Compensation and Benefits

mbobby@cravath.com
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Matthew J. Bobby focuses his practice on executive compensation and employee benefit aspects of complex mergers and acquisitions, spin‑offs, initial public offerings and other business transactions. He also regularly advises clients on the design, negotiation and implementation of incentive compensation arrangements and the negotiation of executive employment and separation agreements, as well as on SEC disclosure regarding such arrangements.

Mr. Bobby’s clients have included ADT, AerCap, Afterpay, AmerisourceBergen, Aras, AveXis, BDT, British American Tobacco, Canadian National Railway, Centrica, Crown Castle, CyrusOne, DiaSorin, GreenSky, Hasbro, Honeywell, Illumina, Johnson & Johnson, Just Eat Takeaway.com, Kenvue, Light & Wonder, Lindsay Goldberg, Martin Marietta, National Grid, Northrop Grumman, Novartis, Olin, Owl Rock, Peugeot, RWE, SMBC Aviation Capital, Starwood Hotels, Thermo Fisher Scientific, Time Warner, US Foods, Viacom, Viatris and WestRock.

Mr. Bobby’s notable matters include representing:

  • Lindsay Goldberg and its portfolio companies in connection with multiple transactions, including the acquisition of The Kleinfelder Group, Summit Interconnect in its acquisition of Royal Circuit Solutions and the sale of Pixelle to H.I.G. Capital;
  • ADT in the pending $1.6 billion sale of its commercial business to GTCR;
  • Hasbro in its $4 billion acquisition of Entertainment One (eOne), the pending sale of its eOne film and TV business to Lionsgate and the sale of eOne Music to Blackstone;
  • Light & Wonder in the $6.05 billion sale of SG Lottery to Brookfield and $1.2 billion sale of OpenBet to Endeavor, its pending acquisition of the remaining stake in SciPlay, the $925.5 million sale of a 34.9% stake to institutional investors and its $363.5 million carve-out IPO of SciPlay;
  • AngloGold Ashanti in its pending corporate restructuring and change to domicile and primary listing location;
  • Owl Rock in Fifth Season Investments’ $220 million acquisition of Fifth Season Financial and the life insurance investment assets of Chapford Capital II and Chapford Diversified Strategies Fund;
  • Johnson & Johnson in numerous matters, including the IPO and separation of Kenvue, its $16.6 billion acquisition of Abiomed, its $6.5 billion acquisition of Momenta, its $3.4 billion acquisition of Auris Health, the $2.8 billion sale of its Advanced Sterilization Products business to Fortive, the $2.1 billion sale of its LifeScan business to Platinum Equity, the $1.045 billion sale of its Codman Neurosurgery business to Integra and its $30 billion acquisition of Actelion;
  • BDT and its affiliates in connection with multiple transactions, including BDT’s combination with MSD Partners and the take‑private acquisition of Weber, valuing Weber at $3.7 billion;
  • RWE in its $6.8 billion acquisition of the Con Edison Clean Energy Businesses; 
  • Martin Marietta in the proposed sale of its California cement plant and related terminals, the sale of certain West Coast cement and concrete operations to CalPortland and its $2.3 billion acquisition of Lehigh West Region;
  • SMBC Aviation Capital in its $6.7 billion acquisition of Goshawk Aviation;
  • CyrusOne in its $15 billion acquisition by KKR and Global Infrastructure Partners;
  • GreenSky in its $2.24 billion acquisition by Goldman Sachs;
  • Afterpay in its $29 billion acquisition by Block;
  • Canadian National Railway in its proposed $33.6 billion combination with Kansas City Southern;
  • Thermo Fisher Scientific in its $20.9 billion acquisition of PPD;
  • National Grid in its £7.8 billion acquisition of Western Power Distribution and the $3.8 billion sale of Narragansett Electric;
  • AerCap in its $30 billion acquisition of GE Capital Aviation Services;
  • AmerisourceBergen in its $6.5 billion acquisition of Walgreens’ Alliance Healthcare businesses;
  • Time Warner in its $109 billion sale to AT&T;
  • Northrop Grumman in the $3.4 billion sale of its federal IT and mission support business to Veritas Capital;
  • Illumina in its $8 billion acquisition of GRAIL;
  • Centrica in its $3.625 billion sale of Direct Energy to NRG Energy;
  • Just Eat Takeaway.com in its $7.3 billion acquisition of Grubhub;
  • Novartis in its $29.8 billion spin‑off of Alcon;
  • US Foods in its $500 million convertible preferred equity investment from KKR and its $970 million acquisition of Smart Foodservice;
  • Olin in its $5 billion tax‑efficient Reverse Morris Trust merger with the chlorine value chain business of Dow Chemical;
  • Peugeot in its $50 billion merger with Fiat Chrysler to form Stellantis;
  • Viacom’s transaction committee in the $30 billion merger with CBS;
  • WestRock in its $4.9 billion acquisition of KapStone;
  • Starwood Hotels in its $13.3 billion sale to Marriott;
  • British American Tobacco in its $97 billion acquisition of Reynolds American;
  • AveXis in its $8.7 billion acquisition by Novartis;
  • Crown Castle in several transactions, including its $7.1 billion acquisition of Lightower; and
  • Mylan in its $9.9 billion acquisition of Meda, its proposal to acquire Perrigo in a transaction valued at approximately $35 billion and its $750 million acquisition, through its Indian subsidiary Mylan Laboratories, of certain female healthcare businesses from Famy Care.

Mr. Bobby received Euromoney Legal Media Group’s 2022 Americas Rising Star Award for “Best in Labor & Employment.” He is a frequent author and speaker on executive compensation and employee benefits topics and recently spoke on a panel at the American Bar Association’s 2023 Business Law Section Hybrid Spring Meeting.

Mr. Bobby was born in Pittsburgh, Pennsylvania. He received a B.A. summa cum laude in mathematics and physics and an M.A. in mathematics from the University of Pennsylvania in 2009, where he was elected to Phi Beta Kappa, and a J.D. magna cum laude from Harvard Law School in 2012, where he was an Executive Editor of the National Security Journal and the International Law Journal. Following his graduation, Mr. Bobby served as a law clerk to Hon. Joseph Jerome Farris of the U.S. Court of Appeals for the Ninth Circuit.

Mr. Bobby joined Cravath in 2013 and was elected a partner in 2020.

Mr. Bobby’s clients have included ADT, AerCap, Afterpay, AmerisourceBergen, Aras, AveXis, BDT, British American Tobacco, Canadian National Railway, Centrica, Crown Castle, CyrusOne, DiaSorin, GreenSky, Hasbro, Honeywell, Illumina, Johnson & Johnson, Just Eat Takeaway.com, Kenvue, Light & Wonder, Lindsay Goldberg, Martin Marietta, National Grid, Northrop Grumman, Novartis, Olin, Owl Rock, Peugeot, RWE, SMBC Aviation Capital, Starwood Hotels, Thermo Fisher Scientific, Time Warner, US Foods, Viacom, Viatris and WestRock.

Mr. Bobby’s notable matters include representing:

  • Lindsay Goldberg and its portfolio companies in connection with multiple transactions, including the acquisition of The Kleinfelder Group, Summit Interconnect in its acquisition of Royal Circuit Solutions and the sale of Pixelle to H.I.G. Capital;
  • ADT in the pending $1.6 billion sale of its commercial business to GTCR;
  • Hasbro in its $4 billion acquisition of Entertainment One (eOne), the pending sale of its eOne film and TV business to Lionsgate and the sale of eOne Music to Blackstone;
  • Light & Wonder in the $6.05 billion sale of SG Lottery to Brookfield and $1.2 billion sale of OpenBet to Endeavor, its pending acquisition of the remaining stake in SciPlay, the $925.5 million sale of a 34.9% stake to institutional investors and its $363.5 million carve-out IPO of SciPlay;
  • AngloGold Ashanti in its pending corporate restructuring and change to domicile and primary listing location;
  • Owl Rock in Fifth Season Investments’ $220 million acquisition of Fifth Season Financial and the life insurance investment assets of Chapford Capital II and Chapford Diversified Strategies Fund;
  • Johnson & Johnson in numerous matters, including the IPO and separation of Kenvue, its $16.6 billion acquisition of Abiomed, its $6.5 billion acquisition of Momenta, its $3.4 billion acquisition of Auris Health, the $2.8 billion sale of its Advanced Sterilization Products business to Fortive, the $2.1 billion sale of its LifeScan business to Platinum Equity, the $1.045 billion sale of its Codman Neurosurgery business to Integra and its $30 billion acquisition of Actelion;
  • BDT and its affiliates in connection with multiple transactions, including BDT’s combination with MSD Partners and the take‑private acquisition of Weber, valuing Weber at $3.7 billion;
  • RWE in its $6.8 billion acquisition of the Con Edison Clean Energy Businesses; 
  • Martin Marietta in the proposed sale of its California cement plant and related terminals, the sale of certain West Coast cement and concrete operations to CalPortland and its $2.3 billion acquisition of Lehigh West Region;
  • SMBC Aviation Capital in its $6.7 billion acquisition of Goshawk Aviation;
  • CyrusOne in its $15 billion acquisition by KKR and Global Infrastructure Partners;
  • GreenSky in its $2.24 billion acquisition by Goldman Sachs;
  • Afterpay in its $29 billion acquisition by Block;
  • Canadian National Railway in its proposed $33.6 billion combination with Kansas City Southern;
  • Thermo Fisher Scientific in its $20.9 billion acquisition of PPD;
  • National Grid in its £7.8 billion acquisition of Western Power Distribution and the $3.8 billion sale of Narragansett Electric;
  • AerCap in its $30 billion acquisition of GE Capital Aviation Services;
  • AmerisourceBergen in its $6.5 billion acquisition of Walgreens’ Alliance Healthcare businesses;
  • Time Warner in its $109 billion sale to AT&T;
  • Northrop Grumman in the $3.4 billion sale of its federal IT and mission support business to Veritas Capital;
  • Illumina in its $8 billion acquisition of GRAIL;
  • Centrica in its $3.625 billion sale of Direct Energy to NRG Energy;
  • Just Eat Takeaway.com in its $7.3 billion acquisition of Grubhub;
  • Novartis in its $29.8 billion spin‑off of Alcon;
  • US Foods in its $500 million convertible preferred equity investment from KKR and its $970 million acquisition of Smart Foodservice;
  • Olin in its $5 billion tax‑efficient Reverse Morris Trust merger with the chlorine value chain business of Dow Chemical;
  • Peugeot in its $50 billion merger with Fiat Chrysler to form Stellantis;
  • Viacom’s transaction committee in the $30 billion merger with CBS;
  • WestRock in its $4.9 billion acquisition of KapStone;
  • Starwood Hotels in its $13.3 billion sale to Marriott;
  • British American Tobacco in its $97 billion acquisition of Reynolds American;
  • AveXis in its $8.7 billion acquisition by Novartis;
  • Crown Castle in several transactions, including its $7.1 billion acquisition of Lightower; and
  • Mylan in its $9.9 billion acquisition of Meda, its proposal to acquire Perrigo in a transaction valued at approximately $35 billion and its $750 million acquisition, through its Indian subsidiary Mylan Laboratories, of certain female healthcare businesses from Famy Care.

Mr. Bobby received Euromoney Legal Media Group’s 2022 Americas Rising Star Award for “Best in Labor & Employment.” He is a frequent author and speaker on executive compensation and employee benefits topics and recently spoke on a panel at the American Bar Association’s 2023 Business Law Section Hybrid Spring Meeting.

Mr. Bobby was born in Pittsburgh, Pennsylvania. He received a B.A. summa cum laude in mathematics and physics and an M.A. in mathematics from the University of Pennsylvania in 2009, where he was elected to Phi Beta Kappa, and a J.D. magna cum laude from Harvard Law School in 2012, where he was an Executive Editor of the National Security Journal and the International Law Journal. Following his graduation, Mr. Bobby served as a law clerk to Hon. Joseph Jerome Farris of the U.S. Court of Appeals for the Ninth Circuit.

Mr. Bobby joined Cravath in 2013 and was elected a partner in 2020.

Education

  • J.D., 2012, Harvard Law School
    magna cum laude
  • M.A., 2009, University of Pennsylvania
  • B.A., 2009, University of Pennsylvania
    Phi Beta Kappa, summa cum laude

Clerkships

  • Hon. Jerome Farris, U.S. Court of Appeals for the Ninth Circuit

Admitted In

  • New York

Rankings

Americas Rising Star Awards - Best in Labor & Employment, Euromoney Legal Media Group (2022)

Deals & Cases

September 27, 2023

Ovintiv Inc.’s Registered Secondary Offering of Common Stock

Cravath represented the underwriter in connection with the $681.8 million registered secondary offering of common stock of Ovintiv Inc., a leading North American oil and natural gas exploration and production company. The shares were listed on the New York Stock Exchange and the Toronto Stock Exchange. The transaction closed on September 13, 2023.

Deals & Cases

September 19, 2023

Lindsay Goldberg’s Acquisition of The Kleinfelder Group

On September 19, 2023, affiliates of private investment firm Lindsay Goldberg, in partnership with the company’s management, announced the completion of an investment in The Kleinfelder Group, a leading engineering, design, construction management, construction materials inspection and testing, and environmental professional services firm. Cravath is representing Lindsay Goldberg in connection with the transaction.

Deals & Cases

September 12, 2023

WestRock’s $20 Billion Combination with Smurfit Kappa to Create Global Leader in Sustainable Packaging

On September 12, 2023, the Boards of WestRock and Smurfit Kappa announced the signing of a definitive transaction agreement to create Smurfit WestRock, a global leader in sustainable packaging. Together, Smurfit Kappa and WestRock generated combined last twelve months’ adjusted annual revenue of approximately $34 billion as of June 30, 2023. Cravath is representing WestRock in connection with the transaction.

Deals & Cases

August 24, 2023

Martin Marietta’s Sale of Certain West Coast Cement Operations to UNACEM Corp S.A.A.

On August 24, 2023, Martin Marietta Materials, Inc. (“Martin Marietta”) announced that it has entered into a definitive agreement to sell the Tehachapi, California cement plant to UNACEM Corp S.A.A. for $317 million in cash. Cravath is representing Martin Marietta in connection with the transaction.

Deals & Cases

August 08, 2023

ADT’s $1.6 Billion Sale of its Commercial Business to GTCR

On August 8, 2023, ADT Inc. (“ADT”), a trusted brand in smart home and small business security, announced that it has entered into a definitive agreement to sell its commercial security, fire and life safety business unit to GTCR, a leading private equity firm, for a purchase price of $1.6 billion, subject to customary purchase price adjustments. Cravath is representing ADT in connection with the transaction.

Accolades

September 25, 2023

Cravath Partners Named to Lawdragon’s 2024 List of Leading Corporate Employment Lawyers

On September 22, 2023, Cravath partners Eric W. Hilfers, Amanda Hines Gold, Jonathan J. Katz and Matthew J. Bobby were named to Lawdragon’s 2024 list of “500 Leading Corporate Employment Lawyers” in recognition of their work advising clients on executive compensation and benefits matters. The list recognizes the “unsurpassed experts who try to keep the balance between Corporate America and its workers.”

Activities & Publications

June 26, 2023

NYS Assembly Passes Bill Banning Post‑Employment Covenants Not To Compete

On June 23, 2023, Cravath prepared a memo for its clients entitled “NYS Assembly Passes Bill Banning Post‑Employment Covenants Not To Compete.” The memo examines Assembly Bill A1278B, which was passed by the New York State Assembly on June 20, 2023, a version having previously been passed by the New York State Senate, and which provides for a broad ban on post‑employment noncompete restrictions. If the bill is signed into law, New York will join California as one of the most restrictive states in the U.S. with respect to post‑employment covenants not to compete. The memo outlines the types of agreements the bill bans, who is considered a covered individual, the exceptions the bill includes and the consequences for violating the law.

Activities & Publications

June 15, 2023

NYSE and Nasdaq Clawback Listing Standards Effective as of October 2, 2023

On June 15, 2023, Cravath prepared a memo for its clients entitled “NYSE and Nasdaq Clawback Listing Standards Effective as of October 2, 2023.” The memo examines amendments proposed by the New York Stock Exchange and the Nasdaq Stock Market to their listing standards in order to implement the clawback requirements of the Dodd‑Frank Act, which were recently approved by the U.S. Securities and Exchange Commission. The memo outlines timeline considerations and recommended next steps for companies following the amendments’ approval.

Activities & Publications

June 13, 2023

Jon Katz, Matthew Bobby, Amanda Hines Gold and Eric Hilfers Author Article on Healthcare M&A for Thomson Reuters Westlaw

On June 9, 2023, Thomson Reuters Westlaw published an article written by Cravath partners Jonathan J. Katz, Matthew J. Bobby, Amanda Hines Gold and Eric W. Hilfers entitled “The Healthcare M&A Surge Is Here: What Your Compensation Committee Should Be Doing Now.” The article outlines key human capital considerations for Boards of Directors and management of pharma and biotech companies weighing a potential M&A transaction, including strategies to retain key employees, severance protections in the event of potential synergies and strategies to manage the potential impact of 280G excise taxes. The article was originally prepared by Cravath as a memo for clients in April 2023.

Activities & Publications

May 02, 2023

Jelena McWilliams, Michael Arnold and Matthew Bobby Speak at the American Bar Association’s 2023 Business Law Spring Meeting

Cravath partners Jelena McWilliams, Michael L. Arnold and Matthew J. Bobby spoke at the American Bar Association’s 2023 Business Law Section Hybrid Spring Meeting, which was held from April 27‑29, 2023 in Seattle, WA.

Matthew J. Bobby focuses his practice on executive compensation and employee benefit aspects of complex mergers and acquisitions, spin‑offs, initial public offerings and other business transactions. He also regularly advises clients on the design, negotiation and implementation of incentive compensation arrangements and the negotiation of executive employment and separation agreements, as well as on SEC disclosure regarding such arrangements.

Mr. Bobby’s clients have included ADT, AerCap, Afterpay, AmerisourceBergen, Aras, AveXis, BDT, British American Tobacco, Canadian National Railway, Centrica, Crown Castle, CyrusOne, DiaSorin, GreenSky, Hasbro, Honeywell, Illumina, Johnson & Johnson, Just Eat Takeaway.com, Kenvue, Light & Wonder, Lindsay Goldberg, Martin Marietta, National Grid, Northrop Grumman, Novartis, Olin, Owl Rock, Peugeot, RWE, SMBC Aviation Capital, Starwood Hotels, Thermo Fisher Scientific, Time Warner, US Foods, Viacom, Viatris and WestRock.

Mr. Bobby’s notable matters include representing:

  • Lindsay Goldberg and its portfolio companies in connection with multiple transactions, including the acquisition of The Kleinfelder Group, Summit Interconnect in its acquisition of Royal Circuit Solutions and the sale of Pixelle to H.I.G. Capital;
  • ADT in the pending $1.6 billion sale of its commercial business to GTCR;
  • Hasbro in its $4 billion acquisition of Entertainment One (eOne), the pending sale of its eOne film and TV business to Lionsgate and the sale of eOne Music to Blackstone;
  • Light & Wonder in the $6.05 billion sale of SG Lottery to Brookfield and $1.2 billion sale of OpenBet to Endeavor, its pending acquisition of the remaining stake in SciPlay, the $925.5 million sale of a 34.9% stake to institutional investors and its $363.5 million carve-out IPO of SciPlay;
  • AngloGold Ashanti in its pending corporate restructuring and change to domicile and primary listing location;
  • Owl Rock in Fifth Season Investments’ $220 million acquisition of Fifth Season Financial and the life insurance investment assets of Chapford Capital II and Chapford Diversified Strategies Fund;
  • Johnson & Johnson in numerous matters, including the IPO and separation of Kenvue, its $16.6 billion acquisition of Abiomed, its $6.5 billion acquisition of Momenta, its $3.4 billion acquisition of Auris Health, the $2.8 billion sale of its Advanced Sterilization Products business to Fortive, the $2.1 billion sale of its LifeScan business to Platinum Equity, the $1.045 billion sale of its Codman Neurosurgery business to Integra and its $30 billion acquisition of Actelion;
  • BDT and its affiliates in connection with multiple transactions, including BDT’s combination with MSD Partners and the take‑private acquisition of Weber, valuing Weber at $3.7 billion;
  • RWE in its $6.8 billion acquisition of the Con Edison Clean Energy Businesses; 
  • Martin Marietta in the proposed sale of its California cement plant and related terminals, the sale of certain West Coast cement and concrete operations to CalPortland and its $2.3 billion acquisition of Lehigh West Region;
  • SMBC Aviation Capital in its $6.7 billion acquisition of Goshawk Aviation;
  • CyrusOne in its $15 billion acquisition by KKR and Global Infrastructure Partners;
  • GreenSky in its $2.24 billion acquisition by Goldman Sachs;
  • Afterpay in its $29 billion acquisition by Block;
  • Canadian National Railway in its proposed $33.6 billion combination with Kansas City Southern;
  • Thermo Fisher Scientific in its $20.9 billion acquisition of PPD;
  • National Grid in its £7.8 billion acquisition of Western Power Distribution and the $3.8 billion sale of Narragansett Electric;
  • AerCap in its $30 billion acquisition of GE Capital Aviation Services;
  • AmerisourceBergen in its $6.5 billion acquisition of Walgreens’ Alliance Healthcare businesses;
  • Time Warner in its $109 billion sale to AT&T;
  • Northrop Grumman in the $3.4 billion sale of its federal IT and mission support business to Veritas Capital;
  • Illumina in its $8 billion acquisition of GRAIL;
  • Centrica in its $3.625 billion sale of Direct Energy to NRG Energy;
  • Just Eat Takeaway.com in its $7.3 billion acquisition of Grubhub;
  • Novartis in its $29.8 billion spin‑off of Alcon;
  • US Foods in its $500 million convertible preferred equity investment from KKR and its $970 million acquisition of Smart Foodservice;
  • Olin in its $5 billion tax‑efficient Reverse Morris Trust merger with the chlorine value chain business of Dow Chemical;
  • Peugeot in its $50 billion merger with Fiat Chrysler to form Stellantis;
  • Viacom’s transaction committee in the $30 billion merger with CBS;
  • WestRock in its $4.9 billion acquisition of KapStone;
  • Starwood Hotels in its $13.3 billion sale to Marriott;
  • British American Tobacco in its $97 billion acquisition of Reynolds American;
  • AveXis in its $8.7 billion acquisition by Novartis;
  • Crown Castle in several transactions, including its $7.1 billion acquisition of Lightower; and
  • Mylan in its $9.9 billion acquisition of Meda, its proposal to acquire Perrigo in a transaction valued at approximately $35 billion and its $750 million acquisition, through its Indian subsidiary Mylan Laboratories, of certain female healthcare businesses from Famy Care.

Mr. Bobby received Euromoney Legal Media Group’s 2022 Americas Rising Star Award for “Best in Labor & Employment.” He is a frequent author and speaker on executive compensation and employee benefits topics and recently spoke on a panel at the American Bar Association’s 2023 Business Law Section Hybrid Spring Meeting.

Mr. Bobby was born in Pittsburgh, Pennsylvania. He received a B.A. summa cum laude in mathematics and physics and an M.A. in mathematics from the University of Pennsylvania in 2009, where he was elected to Phi Beta Kappa, and a J.D. magna cum laude from Harvard Law School in 2012, where he was an Executive Editor of the National Security Journal and the International Law Journal. Following his graduation, Mr. Bobby served as a law clerk to Hon. Joseph Jerome Farris of the U.S. Court of Appeals for the Ninth Circuit.

Mr. Bobby joined Cravath in 2013 and was elected a partner in 2020.

Mr. Bobby’s clients have included ADT, AerCap, Afterpay, AmerisourceBergen, Aras, AveXis, BDT, British American Tobacco, Canadian National Railway, Centrica, Crown Castle, CyrusOne, DiaSorin, GreenSky, Hasbro, Honeywell, Illumina, Johnson & Johnson, Just Eat Takeaway.com, Kenvue, Light & Wonder, Lindsay Goldberg, Martin Marietta, National Grid, Northrop Grumman, Novartis, Olin, Owl Rock, Peugeot, RWE, SMBC Aviation Capital, Starwood Hotels, Thermo Fisher Scientific, Time Warner, US Foods, Viacom, Viatris and WestRock.

Mr. Bobby’s notable matters include representing:

  • Lindsay Goldberg and its portfolio companies in connection with multiple transactions, including the acquisition of The Kleinfelder Group, Summit Interconnect in its acquisition of Royal Circuit Solutions and the sale of Pixelle to H.I.G. Capital;
  • ADT in the pending $1.6 billion sale of its commercial business to GTCR;
  • Hasbro in its $4 billion acquisition of Entertainment One (eOne), the pending sale of its eOne film and TV business to Lionsgate and the sale of eOne Music to Blackstone;
  • Light & Wonder in the $6.05 billion sale of SG Lottery to Brookfield and $1.2 billion sale of OpenBet to Endeavor, its pending acquisition of the remaining stake in SciPlay, the $925.5 million sale of a 34.9% stake to institutional investors and its $363.5 million carve-out IPO of SciPlay;
  • AngloGold Ashanti in its pending corporate restructuring and change to domicile and primary listing location;
  • Owl Rock in Fifth Season Investments’ $220 million acquisition of Fifth Season Financial and the life insurance investment assets of Chapford Capital II and Chapford Diversified Strategies Fund;
  • Johnson & Johnson in numerous matters, including the IPO and separation of Kenvue, its $16.6 billion acquisition of Abiomed, its $6.5 billion acquisition of Momenta, its $3.4 billion acquisition of Auris Health, the $2.8 billion sale of its Advanced Sterilization Products business to Fortive, the $2.1 billion sale of its LifeScan business to Platinum Equity, the $1.045 billion sale of its Codman Neurosurgery business to Integra and its $30 billion acquisition of Actelion;
  • BDT and its affiliates in connection with multiple transactions, including BDT’s combination with MSD Partners and the take‑private acquisition of Weber, valuing Weber at $3.7 billion;
  • RWE in its $6.8 billion acquisition of the Con Edison Clean Energy Businesses; 
  • Martin Marietta in the proposed sale of its California cement plant and related terminals, the sale of certain West Coast cement and concrete operations to CalPortland and its $2.3 billion acquisition of Lehigh West Region;
  • SMBC Aviation Capital in its $6.7 billion acquisition of Goshawk Aviation;
  • CyrusOne in its $15 billion acquisition by KKR and Global Infrastructure Partners;
  • GreenSky in its $2.24 billion acquisition by Goldman Sachs;
  • Afterpay in its $29 billion acquisition by Block;
  • Canadian National Railway in its proposed $33.6 billion combination with Kansas City Southern;
  • Thermo Fisher Scientific in its $20.9 billion acquisition of PPD;
  • National Grid in its £7.8 billion acquisition of Western Power Distribution and the $3.8 billion sale of Narragansett Electric;
  • AerCap in its $30 billion acquisition of GE Capital Aviation Services;
  • AmerisourceBergen in its $6.5 billion acquisition of Walgreens’ Alliance Healthcare businesses;
  • Time Warner in its $109 billion sale to AT&T;
  • Northrop Grumman in the $3.4 billion sale of its federal IT and mission support business to Veritas Capital;
  • Illumina in its $8 billion acquisition of GRAIL;
  • Centrica in its $3.625 billion sale of Direct Energy to NRG Energy;
  • Just Eat Takeaway.com in its $7.3 billion acquisition of Grubhub;
  • Novartis in its $29.8 billion spin‑off of Alcon;
  • US Foods in its $500 million convertible preferred equity investment from KKR and its $970 million acquisition of Smart Foodservice;
  • Olin in its $5 billion tax‑efficient Reverse Morris Trust merger with the chlorine value chain business of Dow Chemical;
  • Peugeot in its $50 billion merger with Fiat Chrysler to form Stellantis;
  • Viacom’s transaction committee in the $30 billion merger with CBS;
  • WestRock in its $4.9 billion acquisition of KapStone;
  • Starwood Hotels in its $13.3 billion sale to Marriott;
  • British American Tobacco in its $97 billion acquisition of Reynolds American;
  • AveXis in its $8.7 billion acquisition by Novartis;
  • Crown Castle in several transactions, including its $7.1 billion acquisition of Lightower; and
  • Mylan in its $9.9 billion acquisition of Meda, its proposal to acquire Perrigo in a transaction valued at approximately $35 billion and its $750 million acquisition, through its Indian subsidiary Mylan Laboratories, of certain female healthcare businesses from Famy Care.

Mr. Bobby received Euromoney Legal Media Group’s 2022 Americas Rising Star Award for “Best in Labor & Employment.” He is a frequent author and speaker on executive compensation and employee benefits topics and recently spoke on a panel at the American Bar Association’s 2023 Business Law Section Hybrid Spring Meeting.

Mr. Bobby was born in Pittsburgh, Pennsylvania. He received a B.A. summa cum laude in mathematics and physics and an M.A. in mathematics from the University of Pennsylvania in 2009, where he was elected to Phi Beta Kappa, and a J.D. magna cum laude from Harvard Law School in 2012, where he was an Executive Editor of the National Security Journal and the International Law Journal. Following his graduation, Mr. Bobby served as a law clerk to Hon. Joseph Jerome Farris of the U.S. Court of Appeals for the Ninth Circuit.

Mr. Bobby joined Cravath in 2013 and was elected a partner in 2020.

Education

  • J.D., 2012, Harvard Law School
    magna cum laude
  • M.A., 2009, University of Pennsylvania
  • B.A., 2009, University of Pennsylvania
    Phi Beta Kappa, summa cum laude

Clerkships

  • Hon. Jerome Farris, U.S. Court of Appeals for the Ninth Circuit

Admitted In

  • New York

Rankings

Americas Rising Star Awards - Best in Labor & Employment, Euromoney Legal Media Group (2022)

Deals & Cases

September 27, 2023

Ovintiv Inc.’s Registered Secondary Offering of Common Stock

Cravath represented the underwriter in connection with the $681.8 million registered secondary offering of common stock of Ovintiv Inc., a leading North American oil and natural gas exploration and production company. The shares were listed on the New York Stock Exchange and the Toronto Stock Exchange. The transaction closed on September 13, 2023.

Deals & Cases

September 19, 2023

Lindsay Goldberg’s Acquisition of The Kleinfelder Group

On September 19, 2023, affiliates of private investment firm Lindsay Goldberg, in partnership with the company’s management, announced the completion of an investment in The Kleinfelder Group, a leading engineering, design, construction management, construction materials inspection and testing, and environmental professional services firm. Cravath is representing Lindsay Goldberg in connection with the transaction.

Deals & Cases

September 12, 2023

WestRock’s $20 Billion Combination with Smurfit Kappa to Create Global Leader in Sustainable Packaging

On September 12, 2023, the Boards of WestRock and Smurfit Kappa announced the signing of a definitive transaction agreement to create Smurfit WestRock, a global leader in sustainable packaging. Together, Smurfit Kappa and WestRock generated combined last twelve months’ adjusted annual revenue of approximately $34 billion as of June 30, 2023. Cravath is representing WestRock in connection with the transaction.

Deals & Cases

August 24, 2023

Martin Marietta’s Sale of Certain West Coast Cement Operations to UNACEM Corp S.A.A.

On August 24, 2023, Martin Marietta Materials, Inc. (“Martin Marietta”) announced that it has entered into a definitive agreement to sell the Tehachapi, California cement plant to UNACEM Corp S.A.A. for $317 million in cash. Cravath is representing Martin Marietta in connection with the transaction.

Deals & Cases

August 08, 2023

ADT’s $1.6 Billion Sale of its Commercial Business to GTCR

On August 8, 2023, ADT Inc. (“ADT”), a trusted brand in smart home and small business security, announced that it has entered into a definitive agreement to sell its commercial security, fire and life safety business unit to GTCR, a leading private equity firm, for a purchase price of $1.6 billion, subject to customary purchase price adjustments. Cravath is representing ADT in connection with the transaction.

Accolades

September 25, 2023

Cravath Partners Named to Lawdragon’s 2024 List of Leading Corporate Employment Lawyers

On September 22, 2023, Cravath partners Eric W. Hilfers, Amanda Hines Gold, Jonathan J. Katz and Matthew J. Bobby were named to Lawdragon’s 2024 list of “500 Leading Corporate Employment Lawyers” in recognition of their work advising clients on executive compensation and benefits matters. The list recognizes the “unsurpassed experts who try to keep the balance between Corporate America and its workers.”

Activities & Publications

June 26, 2023

NYS Assembly Passes Bill Banning Post‑Employment Covenants Not To Compete

On June 23, 2023, Cravath prepared a memo for its clients entitled “NYS Assembly Passes Bill Banning Post‑Employment Covenants Not To Compete.” The memo examines Assembly Bill A1278B, which was passed by the New York State Assembly on June 20, 2023, a version having previously been passed by the New York State Senate, and which provides for a broad ban on post‑employment noncompete restrictions. If the bill is signed into law, New York will join California as one of the most restrictive states in the U.S. with respect to post‑employment covenants not to compete. The memo outlines the types of agreements the bill bans, who is considered a covered individual, the exceptions the bill includes and the consequences for violating the law.

Activities & Publications

June 15, 2023

NYSE and Nasdaq Clawback Listing Standards Effective as of October 2, 2023

On June 15, 2023, Cravath prepared a memo for its clients entitled “NYSE and Nasdaq Clawback Listing Standards Effective as of October 2, 2023.” The memo examines amendments proposed by the New York Stock Exchange and the Nasdaq Stock Market to their listing standards in order to implement the clawback requirements of the Dodd‑Frank Act, which were recently approved by the U.S. Securities and Exchange Commission. The memo outlines timeline considerations and recommended next steps for companies following the amendments’ approval.

Activities & Publications

June 13, 2023

Jon Katz, Matthew Bobby, Amanda Hines Gold and Eric Hilfers Author Article on Healthcare M&A for Thomson Reuters Westlaw

On June 9, 2023, Thomson Reuters Westlaw published an article written by Cravath partners Jonathan J. Katz, Matthew J. Bobby, Amanda Hines Gold and Eric W. Hilfers entitled “The Healthcare M&A Surge Is Here: What Your Compensation Committee Should Be Doing Now.” The article outlines key human capital considerations for Boards of Directors and management of pharma and biotech companies weighing a potential M&A transaction, including strategies to retain key employees, severance protections in the event of potential synergies and strategies to manage the potential impact of 280G excise taxes. The article was originally prepared by Cravath as a memo for clients in April 2023.

Activities & Publications

May 02, 2023

Jelena McWilliams, Michael Arnold and Matthew Bobby Speak at the American Bar Association’s 2023 Business Law Spring Meeting

Cravath partners Jelena McWilliams, Michael L. Arnold and Matthew J. Bobby spoke at the American Bar Association’s 2023 Business Law Section Hybrid Spring Meeting, which was held from April 27‑29, 2023 in Seattle, WA.

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