Cravath’s London Office Moves to 100 Cheapside
Sarah W.
Colangelo
Of Counsel, Executive Compensation and Benefits
Sarah W. Colangelo focuses her practice on executive compensation and employee benefit matters, principally in connection with mergers and acquisitions, securities offerings and other corporate transactions.
Ms. Colangelo’s notable transactions include representing:
- AerCap in its $30 billion acquisition of GE Capital Aviation Services;
- Northrop Grumman in the $3.4 billion sale of its federal IT and mission support business to Veritas Capital;
- The special committee of the board of Eidos Therapeutics in its $2.83 billion merger with BridgeBio Pharma;
- Bharti in the acquisition of, and $1 billion investment in, OneWeb by a consortium led by Bharti and Her Majesty’s Government;
- Disney in Endemol Shine’s acquisition by Banijay Group;
- Parker Hannifin in its $3.7 billion acquisition of LORD;
- Occidental Petroleum in its $57 billion acquisition of Anadarko, topping Anadarko’s original agreement with Chevron;
- Time Warner in its $109 billion sale to AT&T;
- Johnson & Johnson in its $30 billion acquisition of Actelion;
- Technicolor in the $475 million sale of its Patent Licensing business and the sale of its Research & Innovation activity to InterDigital;
- CommScope in its $1 billion investment from The Carlyle Group as part of CommScope’s $7.4 billion acquisition of ARRIS;
- AveXis in its $8.7 billion acquisition by Novartis;
- Montpelier Re Holdings in its sale to Endurance Specialty Holdings; and
- Sapient in its $3.7 billion acquisition by Publicis.
Ms. Colangelo considers Charleston, South Carolina her home. She received a B.A. summa cum laude from Duke University in 2007 where she was elected to Phi Beta Kappa and a J.D. magna cum laude from Georgetown Law School in 2014, where she was the Editor‑in‑Chief of The Tax Lawyer and elected to the Order of the Coif. Prior to attending law school, Ms. Colangelo served in the United States Navy. Ms. Colangelo joined Cravath in 2014 and was elected of counsel in 2023.
Ms. Colangelo’s notable transactions include representing:
- AerCap in its $30 billion acquisition of GE Capital Aviation Services;
- Northrop Grumman in the $3.4 billion sale of its federal IT and mission support business to Veritas Capital;
- The special committee of the board of Eidos Therapeutics in its $2.83 billion merger with BridgeBio Pharma;
- Bharti in the acquisition of, and $1 billion investment in, OneWeb by a consortium led by Bharti and Her Majesty’s Government;
- Disney in Endemol Shine’s acquisition by Banijay Group;
- Parker Hannifin in its $3.7 billion acquisition of LORD;
- Occidental Petroleum in its $57 billion acquisition of Anadarko, topping Anadarko’s original agreement with Chevron;
- Time Warner in its $109 billion sale to AT&T;
- Johnson & Johnson in its $30 billion acquisition of Actelion;
- Technicolor in the $475 million sale of its Patent Licensing business and the sale of its Research & Innovation activity to InterDigital;
- CommScope in its $1 billion investment from The Carlyle Group as part of CommScope’s $7.4 billion acquisition of ARRIS;
- AveXis in its $8.7 billion acquisition by Novartis;
- Montpelier Re Holdings in its sale to Endurance Specialty Holdings; and
- Sapient in its $3.7 billion acquisition by Publicis.
Ms. Colangelo considers Charleston, South Carolina her home. She received a B.A. summa cum laude from Duke University in 2007 where she was elected to Phi Beta Kappa and a J.D. magna cum laude from Georgetown Law School in 2014, where she was the Editor‑in‑Chief of The Tax Lawyer and elected to the Order of the Coif. Prior to attending law school, Ms. Colangelo served in the United States Navy. Ms. Colangelo joined Cravath in 2014 and was elected of counsel in 2023.
Education
- J.D., 2014, Georgetown University Law CenterOrder of the Coif, magna cum laude
- B.A., 2007, Duke UniversityPhi Beta Kappa, summa cum laude
Admitted In
- New York
Deals & Cases
January 27, 2025
The Aquarion Water Authority’s $2.4 Billion Acquisition of Aquarion Water Company from Eversource Energy
On January 27, 2025, the Aquarion Water Authority, a quasi-public corporation and political subdivision of the State of Connecticut and a standalone, newly created water authority alongside the South Central Connecticut Regional Water Authority, announced that it has entered into a definitive agreement to acquire Aquarion Water Company from Eversource Energy, an energy provider which transmits and delivers electricity and natural gas and supplies water to approximately 4.4 million customers in Connecticut, Massachusetts and New Hampshire. Subject to certain closing adjustments, the aggregate enterprise value of the sale is approximately $2.4 billion, which includes approximately $1.6 billion in cash and $800 million of net debt that will be extinguished at closing. Cravath is representing the Aquarion Water Authority in connection with the transaction.
Deals & Cases
January 13, 2025
Johnson & Johnson’s $14.6 Billion Acquisition of Intra‑Cellular Therapies, Inc.
On January 13, 2025, Johnson & Johnson and Intra‑Cellular Therapies, Inc. announced that they have entered into a definitive agreement under which Johnson & Johnson will acquire all outstanding shares of Intra‑Cellular Therapies, a biopharmaceutical company focused on the development and commercialization of therapeutics for central nervous system (CNS) disorders, for $132 per share in cash for a total equity value of approximately $14.6 billion. Cravath is representing Johnson & Johnson in connection with the transaction.
Deals & Cases
December 20, 2023
Aon’s $13.4 Billion Acquisition of NFP
On December 20, 2023, Aon plc (“Aon”), a leading global professional services firm, announced the signing of a definitive agreement to acquire NFP, a leading middle‑market property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, from funds affiliated with NFP’s main capital sponsor, Madison Dearborn Partners, and funds affiliated with HPS Investment Partners. Under the terms of the transaction, Aon will acquire NFP for a total consideration estimated to be $13.4 billion at the time of close, which will be funded by $7 billion of cash and $6.4 billion of Aon stock. Cravath is representing Aon in connection with the transaction.
Deals & Cases
December 18, 2023
IBM’s €2.13 Billion Acquisition of StreamSets and webMethods Platforms from Software AG
On December 18, 2023, IBM announced that it has entered into a definitive agreement with Software AG, a company majority owned by Silver Lake, to purchase StreamSets and webMethods, Software AG’s Super iPaaS (integration platform‑as‑a‑service) enterprise technology platforms, for €2.13 billion in cash. StreamSets will add data ingestion capabilities to watsonx, IBM’s AI and data platform, while webMethods will give clients and partners additional integration and API management tools for their hybrid multi‑cloud environments. Cravath is representing IBM in connection with the transaction.
Deals & Cases
November 21, 2023
Martin Marietta’s $2.1 Billion Sale of its South Texas Cement and Related Concrete Operations to CRH plc
On November 21, 2023, Martin Marietta Materials, Inc. (“Martin Marietta”) announced that it has entered into a definitive agreement to sell its South Texas cement business and certain of its related concrete operations to CRH Americas Materials, Inc., a subsidiary of CRH plc, for $2.1 billion in cash. Cravath is representing Martin Marietta in connection with the transaction.
Sarah W. Colangelo focuses her practice on executive compensation and employee benefit matters, principally in connection with mergers and acquisitions, securities offerings and other corporate transactions.
Ms. Colangelo’s notable transactions include representing:
- AerCap in its $30 billion acquisition of GE Capital Aviation Services;
- Northrop Grumman in the $3.4 billion sale of its federal IT and mission support business to Veritas Capital;
- The special committee of the board of Eidos Therapeutics in its $2.83 billion merger with BridgeBio Pharma;
- Bharti in the acquisition of, and $1 billion investment in, OneWeb by a consortium led by Bharti and Her Majesty’s Government;
- Disney in Endemol Shine’s acquisition by Banijay Group;
- Parker Hannifin in its $3.7 billion acquisition of LORD;
- Occidental Petroleum in its $57 billion acquisition of Anadarko, topping Anadarko’s original agreement with Chevron;
- Time Warner in its $109 billion sale to AT&T;
- Johnson & Johnson in its $30 billion acquisition of Actelion;
- Technicolor in the $475 million sale of its Patent Licensing business and the sale of its Research & Innovation activity to InterDigital;
- CommScope in its $1 billion investment from The Carlyle Group as part of CommScope’s $7.4 billion acquisition of ARRIS;
- AveXis in its $8.7 billion acquisition by Novartis;
- Montpelier Re Holdings in its sale to Endurance Specialty Holdings; and
- Sapient in its $3.7 billion acquisition by Publicis.
Ms. Colangelo considers Charleston, South Carolina her home. She received a B.A. summa cum laude from Duke University in 2007 where she was elected to Phi Beta Kappa and a J.D. magna cum laude from Georgetown Law School in 2014, where she was the Editor‑in‑Chief of The Tax Lawyer and elected to the Order of the Coif. Prior to attending law school, Ms. Colangelo served in the United States Navy. Ms. Colangelo joined Cravath in 2014 and was elected of counsel in 2023.
Ms. Colangelo’s notable transactions include representing:
- AerCap in its $30 billion acquisition of GE Capital Aviation Services;
- Northrop Grumman in the $3.4 billion sale of its federal IT and mission support business to Veritas Capital;
- The special committee of the board of Eidos Therapeutics in its $2.83 billion merger with BridgeBio Pharma;
- Bharti in the acquisition of, and $1 billion investment in, OneWeb by a consortium led by Bharti and Her Majesty’s Government;
- Disney in Endemol Shine’s acquisition by Banijay Group;
- Parker Hannifin in its $3.7 billion acquisition of LORD;
- Occidental Petroleum in its $57 billion acquisition of Anadarko, topping Anadarko’s original agreement with Chevron;
- Time Warner in its $109 billion sale to AT&T;
- Johnson & Johnson in its $30 billion acquisition of Actelion;
- Technicolor in the $475 million sale of its Patent Licensing business and the sale of its Research & Innovation activity to InterDigital;
- CommScope in its $1 billion investment from The Carlyle Group as part of CommScope’s $7.4 billion acquisition of ARRIS;
- AveXis in its $8.7 billion acquisition by Novartis;
- Montpelier Re Holdings in its sale to Endurance Specialty Holdings; and
- Sapient in its $3.7 billion acquisition by Publicis.
Ms. Colangelo considers Charleston, South Carolina her home. She received a B.A. summa cum laude from Duke University in 2007 where she was elected to Phi Beta Kappa and a J.D. magna cum laude from Georgetown Law School in 2014, where she was the Editor‑in‑Chief of The Tax Lawyer and elected to the Order of the Coif. Prior to attending law school, Ms. Colangelo served in the United States Navy. Ms. Colangelo joined Cravath in 2014 and was elected of counsel in 2023.
Education
- J.D., 2014, Georgetown University Law CenterOrder of the Coif, magna cum laude
- B.A., 2007, Duke UniversityPhi Beta Kappa, summa cum laude
Admitted In
- New York
Deals & Cases
January 27, 2025
The Aquarion Water Authority’s $2.4 Billion Acquisition of Aquarion Water Company from Eversource Energy
On January 27, 2025, the Aquarion Water Authority, a quasi-public corporation and political subdivision of the State of Connecticut and a standalone, newly created water authority alongside the South Central Connecticut Regional Water Authority, announced that it has entered into a definitive agreement to acquire Aquarion Water Company from Eversource Energy, an energy provider which transmits and delivers electricity and natural gas and supplies water to approximately 4.4 million customers in Connecticut, Massachusetts and New Hampshire. Subject to certain closing adjustments, the aggregate enterprise value of the sale is approximately $2.4 billion, which includes approximately $1.6 billion in cash and $800 million of net debt that will be extinguished at closing. Cravath is representing the Aquarion Water Authority in connection with the transaction.
Deals & Cases
January 13, 2025
Johnson & Johnson’s $14.6 Billion Acquisition of Intra‑Cellular Therapies, Inc.
On January 13, 2025, Johnson & Johnson and Intra‑Cellular Therapies, Inc. announced that they have entered into a definitive agreement under which Johnson & Johnson will acquire all outstanding shares of Intra‑Cellular Therapies, a biopharmaceutical company focused on the development and commercialization of therapeutics for central nervous system (CNS) disorders, for $132 per share in cash for a total equity value of approximately $14.6 billion. Cravath is representing Johnson & Johnson in connection with the transaction.
Deals & Cases
December 20, 2023
Aon’s $13.4 Billion Acquisition of NFP
On December 20, 2023, Aon plc (“Aon”), a leading global professional services firm, announced the signing of a definitive agreement to acquire NFP, a leading middle‑market property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, from funds affiliated with NFP’s main capital sponsor, Madison Dearborn Partners, and funds affiliated with HPS Investment Partners. Under the terms of the transaction, Aon will acquire NFP for a total consideration estimated to be $13.4 billion at the time of close, which will be funded by $7 billion of cash and $6.4 billion of Aon stock. Cravath is representing Aon in connection with the transaction.
Deals & Cases
December 18, 2023
IBM’s €2.13 Billion Acquisition of StreamSets and webMethods Platforms from Software AG
On December 18, 2023, IBM announced that it has entered into a definitive agreement with Software AG, a company majority owned by Silver Lake, to purchase StreamSets and webMethods, Software AG’s Super iPaaS (integration platform‑as‑a‑service) enterprise technology platforms, for €2.13 billion in cash. StreamSets will add data ingestion capabilities to watsonx, IBM’s AI and data platform, while webMethods will give clients and partners additional integration and API management tools for their hybrid multi‑cloud environments. Cravath is representing IBM in connection with the transaction.
Deals & Cases
November 21, 2023
Martin Marietta’s $2.1 Billion Sale of its South Texas Cement and Related Concrete Operations to CRH plc
On November 21, 2023, Martin Marietta Materials, Inc. (“Martin Marietta”) announced that it has entered into a definitive agreement to sell its South Texas cement business and certain of its related concrete operations to CRH Americas Materials, Inc., a subsidiary of CRH plc, for $2.1 billion in cash. Cravath is representing Martin Marietta in connection with the transaction.
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