IP and Strategic Tech Transactions

On February 2, 2026, Hain Celestial Group, a leading global health and wellness company, announced that it has reached a definitive agreement to sell its North American Snacks business, including Garden Veggie Snacks™, Terra® chips and Garden of Eatin’® snacks, to Snackruptors Inc., a Canadian, family‑owned snacks manufacturer, for $115 million in cash. Cravath is representing Hain Celestial Group in connection with the transaction.

On January 27, 2026, Siegfried, a leading global Contract Development and Manufacturing Organization for the pharmaceutical industry, announced it has signed binding agreements with an affiliate of SK Capital Partners to acquire the drug substance business of the Noramco Group and Extractas Bioscience (“Extractas”). The acquired businesses include Noramco, Purisys and Extractas, three high-quality small molecules drug substances sites. Cravath is representing Siegfried in connection with the transaction.

Cravath represented the underwriters in connection with the $212.8 million initial public offering of class A common stock of BitGo Holdings, Inc. (“BitGo”), a leading infrastructure provider of digital asset solutions for businesses, offering solutions including custody, wallets, staking, trading, settlement and digital asset management. The shares were listed on the New York Stock Exchange. The transaction closed on January 23, 2026.

Cravath represented the administrative agent, joint lead arrangers and joint bookrunners in connection with $3.5 billion of credit facilities made available to Genmab, a leading international biotechnology company, and one of its wholly‑owned subsidiaries, Genmab Finance LLC, as part of the financing transactions undertaken in connection with its acquisition of Merus N.V., a leading oncology company developing innovative antibody therapeutics. The credit facilities consisted of a $2 billion term loan “B” facility, a $1 billion term loan “A” facility and a $500 million revolving credit facility. The transaction closed on December 12, 2025.

On January 5, 2026, Cable One, Inc. (“Cable One”) announced it has entered into a definitive agreement to acquire all of the equity interests in Mega Broadband Investments Holdings LLC (“MBI”) that it does not already own in a transaction valued at approximately $1.3 billion. Cable One currently owns a 45% stake in MBI, and certain affiliates of GTCR LLC and MBI management own the balance of MBI. MBI is a leading provider of broadband services across the Southeast, Northwest and Mid‑South United States and offers an extensive range of broadband, fiber connectivity, video and voice services for approximately 210,000 residential and business data customers. Based on currently available information, (i) the purchase price payable by Cable One for the 55% of MBI that it does not already own is expected to range between approximately $475 million and $495 million and (ii) MBI’s total net debt at the time it becomes wholly owned by Cable One is expected to be approximately $845 million to $895 million. Cravath is representing Cable One in connection with the transaction.

On January 27, 2026, Cravath published the first edition of its Artificial Intelligence Developments Newsletter, which includes a high‑level review of activity across technical, regulatory, legal, and market areas of AI in the last three months.  

On January 26, 2026, Cravath partner David J. Kappos participated in the Association of Corporate Patent Counsel’s 2026 Midwinter Meeting, which was held from January 25‑28 in Orlando, Florida. The program featured presentations and interactive discussions covering intellectual property topics and best practices. Dave spoke on a panel entitled “The Future of IP Policy.”

On December 20, 2025, Intellectual Asset Management (“IAM”) published an article written by Cravath partner David J. Kappos and associate Leslie Liu entitled “The UPC Should Follow German Courts’ Pro‑Innovation Approach to FRAND Cases.” The article discusses the Unified Patent Court (“UPC”)’s approach in deciding FRAND cases, arguing that the UPC should follow the German courts’ “pro‑innovation” practice of deferring to the market to set FRAND rates rather than attempting to do so itself.

Cravath has elected the following new partners, who will become members of the Firm on January 1, 2026:

Cravath partner David J. Kappos and associate Leslie Liu co‑authored an article entitled “Burgeoning Patent Licensing Programs Necessitate Best Practices,” which was published in Bloomberg Law on November 18, 2025. The article discusses emerging best practices for patent pool licensing programs, including open participation, robust disclosures, transparent and consistent pricing and fair distribution of royalties, and suggests that patent pools should impose minimal restrictions in their license agreements.