Cravath Publishes Summer 2026 Issue of Alumni Journal
Mergers and Acquisitions
Cravath is one of the preeminent law firms for mergers and acquisitions. Our lawyers are renowned for their outstanding capabilities in complex U.S. and cross‑border deals. Over the past decade, Cravath has represented clients in more than 800 M&A transactions with an aggregate value of over $4 trillion, reflecting the high‑value, high‑impact transactions that we are regularly called upon to execute.
Cravath advises companies in their most critical needs across the full spectrum of corporate transactions, including mergers, acquisitions, divestitures, spin‑offs and joint ventures. In addition to—and often alongside—the mergers and acquisitions that we handle, Cravath is a leading advisor for companies and boards in high‑stakes corporate situations, including hostile takeovers and shareholder activism defense.
Both U.S. and non-U.S. clients rely on our leadership and expertise in their most transformative corporate matters, many of which involve multiple jurisdictions across diverse industries. Our lawyers navigate novel legal and business issues in the areas of consumer products, energy, fintech, healthcare, media and entertainment, pharmaceuticals, retail, technology and telecommunications.
Cravath has been consistently ranked a top‑tier firm for M&A by numerous third‑party publications and is an 11‑time recipient of Law360’s M&A Practice Group of the Year award. Our lawyers regularly earn plaudits from their clients and peers in the market:
- “In the M&A arena, Cravath is among the smallest handful of firms that provides the highest level of knowledge, creativity, and skill. Cravath will have the latest issues and answers, along with the current market solutions. Their insights are driven by a firm understanding of the commercial issues underpinning the law as well as the trade-offs that clients and their adversaries need to make. Their advice is always pragmatic.” Best Lawyers Best Law Firms
- “They are outstanding at coordination and completeness. Every person you deal with understands the whole deal, as opposed to only their piece.” Chambers
- “Cravath’s London office works closely with colleagues in New York on a diverse range of matters, including corporate law and cross-border M&A. It is well known for its outstanding track record on high-end, cross-border matters.” The Legal 500
- “The best thing about Cravath is the consistent excellence throughout the team, from the most senior lawyers to the most junior.” Chambers
- “The people are super-smart and they have a really strong work intensity. They know the customers really well and they give practical, personal advice.” Chambers
- “The string of transactions confirms Cravath, a firm that has long been considered a powerhouse in complex and high-stakes M&A, as a hallmark player in headline deals across diverse industries.” Law360
- Cravath is “one of the brand-name law firms in the M&A space. I think it is phenomenal. When I think of complex M&A transactions, it would be first on my list of firms to go to.” Chambers
Cravath advises companies in their most critical needs across the full spectrum of corporate transactions, including mergers, acquisitions, divestitures, spin‑offs and joint ventures. In addition to—and often alongside—the mergers and acquisitions that we handle, Cravath is a leading advisor for companies and boards in high‑stakes corporate situations, including hostile takeovers and shareholder activism defense.
Both U.S. and non-U.S. clients rely on our leadership and expertise in their most transformative corporate matters, many of which involve multiple jurisdictions across diverse industries. Our lawyers navigate novel legal and business issues in the areas of consumer products, energy, fintech, healthcare, media and entertainment, pharmaceuticals, retail, technology and telecommunications.
Cravath has been consistently ranked a top‑tier firm for M&A by numerous third‑party publications and is an 11‑time recipient of Law360’s M&A Practice Group of the Year award. Our lawyers regularly earn plaudits from their clients and peers in the market:
- “In the M&A arena, Cravath is among the smallest handful of firms that provides the highest level of knowledge, creativity, and skill. Cravath will have the latest issues and answers, along with the current market solutions. Their insights are driven by a firm understanding of the commercial issues underpinning the law as well as the trade-offs that clients and their adversaries need to make. Their advice is always pragmatic.” Best Lawyers Best Law Firms
- “They are outstanding at coordination and completeness. Every person you deal with understands the whole deal, as opposed to only their piece.” Chambers
- “Cravath’s London office works closely with colleagues in New York on a diverse range of matters, including corporate law and cross-border M&A. It is well known for its outstanding track record on high-end, cross-border matters.” The Legal 500
- “The best thing about Cravath is the consistent excellence throughout the team, from the most senior lawyers to the most junior.” Chambers
- “The people are super-smart and they have a really strong work intensity. They know the customers really well and they give practical, personal advice.” Chambers
- “The string of transactions confirms Cravath, a firm that has long been considered a powerhouse in complex and high-stakes M&A, as a hallmark player in headline deals across diverse industries.” Law360
- Cravath is “one of the brand-name law firms in the M&A space. I think it is phenomenal. When I think of complex M&A transactions, it would be first on my list of firms to go to.” Chambers
Deals & Cases
October 08, 2026
Viatris’s $1.65 Billion Acquisition of Pacira
On October 8, 2026, Viatris Inc. (“Viatris”), a global healthcare company, and Pacira BioSciences, Inc. (“Pacira”), a leader in innovative non‑opioid pain therapies, announced that they have entered into a definitive agreement under which Viatris has agreed to acquire all of the outstanding shares of common stock of Pacira for $36.50 per share in cash, representing an aggregate equity value of $1.65 billion. Cravath is representing Viatris in connection with the transaction.
Deals & Cases
October 01, 2026
$120 Billion Korean Commitment to Support Construction of Westinghouse Nuclear Reactors in U.S.
On September 30, 2026, Westinghouse Electric Company (“Westinghouse”) and Brookfield Asset Management (“Brookfield”) welcomed the new strategic partnership between the U.S. Government and the Republic of Korea (“Korea”) to support the deployment of Westinghouse technology in the U.S. Under the partnership, Korea commits up to $120 billion of investment to help finance the construction of eight nuclear reactors in the U.S., including six Westinghouse AP1000 reactors and two Korean APR1400 reactors which also incorporate Westinghouse technology. The partnership also provides for a cornerstone equity investment of between 5% and 10% in Westinghouse by Korea. Cravath is representing Westinghouse and Brookfield in connection with the strategic partnership.
Deals & Cases
October 01, 2026
Corteva’s Spin‑Off of Seed and Genetics Business
On October 1, 2026, Corteva, Inc. (“Corteva”) announced it has successfully spun off its advanced seed and genetics business as a new public company, Vylor, Inc., and will move forward as a leading, pure‑play global crop protection company. Cravath is representing Corteva in connection with the transaction.
Deals & Cases
September 21, 2026
DRI Healthcare’s Acquisition of Royalty Participation Rights in U.S. Net Sales of tavapadon
On September 21, 2026, DRI Healthcare Trust (“DRI Healthcare”), a pioneer in global pharmaceutical royalty monetization, announced that it has entered into purchase agreements to acquire certain royalty participation rights in U.S. net sales of tavapadon, an investigational Parkinson’s disease drug candidate, from funds managed by Bain Capital and NovaQuest Capital Management. Under the terms of the purchase agreements, DRI Healthcare will pay an aggregate purchase price of $316 million at closing. Following closing, DRI Healthcare will be entitled to receive tiered royalty payments on annual U.S. net sales of tavapadon, at combined tiered, mid‑single digit to low‑double digit royalty rates. DRI Healthcare will also be entitled to receive certain sales milestone payments upon first reaching certain cumulative U.S. net sales thresholds and four annual fixed payments of $23.4 million on the first four anniversaries of FDA approval of tavapadon. Aggregate receipts are subject to a contractual hard cap of $437.5 million. Cravath is representing DRI Healthcare in connection with the transaction.
Deals & Cases
September 04, 2026
Stanley Black & Decker’s Sale of Excel Industries to Bad Boy Mowers
On September 4, 2026, Stanley Black & Decker, a worldwide leader in Tools and Outdoor, announced that it has entered into a definitive agreement to sell its Excel Industries (“Excel”) business to Bad Boy Mowers. Excel is a leading designer and manufacturer of premium commercial and residential turf‑care equipment under the distinct brand of Hustler Turf Equipment (“Hustler”). Cravath is representing Stanley Black & Decker in connection with the transaction.
Publications
October 01, 2026
HLS Forum on Corporate Governance Publishes Cravath’s Q2 2026 Newsletter on M&A, Activism and Corporate Governance
On September 29, 2026, the Harvard Law School Forum on Corporate Governance published Cravath’s latest quarterly newsletter on M&A, activism and corporate governance. The newsletter provides insight into practical points, key takeaways and relevant developments across the M&A, activism, tax, regulatory and corporate governance landscape during the second quarter of 2026. Contributors to this edition include partners Margaret T. Segall, Evan A. Hill, Matthew L. Ploszek, Kimberley S. Drexler and Adam M. Sanchez.
Activities
September 17, 2026
Faiza Saeed, Gary Bornstein and Ting Chen Named to Forbes’s 2026 List of “America’s Top Lawyers”
On September 16, 2026, Cravath partners Faiza J. Saeed, Gary A. Bornstein and Ting S. Chen were named to Forbes’s 2026 list of “America’s Top Lawyers. The list recognizes “the leading dealmakers, litigators, advisers and strategists—at firms of all sizes—who stand apart in an extraordinarily competitive field” and “those who are defining modern legal excellence.”
Publications
September 10, 2026
Cravath Publishes Quarterly Review on Q2 2026 Trends in M&A, Activism and Corporate Governance
On September 9, 2026, Cravath published the latest edition of its Quarterly Review, which provides insight into practical points, key takeaways and relevant developments across the M&A, activism, tax, regulatory and corporate governance landscape. This edition covers:
Activities
July 08, 2026
Cravath and Dan Cerqueira Named Finalists for the New York Law Journal’s 2026 New York Legal Awards
On July 7, 2026, the New York Law Journal named Cravath a finalist for its “Law Firm of the Year: Large Firms” award, and partner Daniel J. Cerqueira a finalist for its “Dealmaker of the Year” award. Winners will be featured online and honored at an event in September.
Publications
July 02, 2026
Artificial Intelligence Developments – June 2026
On July 2, 2026, Cravath published the latest edition of its Artificial Intelligence Developments Newsletter, which includes a high-level review of activity across technical, regulatory, legal, and market areas of AI over the last month, highlighting selected new trends.
Deals & Cases
October 08, 2026
Viatris’s $1.65 Billion Acquisition of Pacira
On October 8, 2026, Viatris Inc. (“Viatris”), a global healthcare company, and Pacira BioSciences, Inc. (“Pacira”), a leader in innovative non‑opioid pain therapies, announced that they have entered into a definitive agreement under which Viatris has agreed to acquire all of the outstanding shares of common stock of Pacira for $36.50 per share in cash, representing an aggregate equity value of $1.65 billion. Cravath is representing Viatris in connection with the transaction.
Deals & Cases
October 01, 2026
$120 Billion Korean Commitment to Support Construction of Westinghouse Nuclear Reactors in U.S.
On September 30, 2026, Westinghouse Electric Company (“Westinghouse”) and Brookfield Asset Management (“Brookfield”) welcomed the new strategic partnership between the U.S. Government and the Republic of Korea (“Korea”) to support the deployment of Westinghouse technology in the U.S. Under the partnership, Korea commits up to $120 billion of investment to help finance the construction of eight nuclear reactors in the U.S., including six Westinghouse AP1000 reactors and two Korean APR1400 reactors which also incorporate Westinghouse technology. The partnership also provides for a cornerstone equity investment of between 5% and 10% in Westinghouse by Korea. Cravath is representing Westinghouse and Brookfield in connection with the strategic partnership.
Deals & Cases
October 01, 2026
Corteva’s Spin‑Off of Seed and Genetics Business
On October 1, 2026, Corteva, Inc. (“Corteva”) announced it has successfully spun off its advanced seed and genetics business as a new public company, Vylor, Inc., and will move forward as a leading, pure‑play global crop protection company. Cravath is representing Corteva in connection with the transaction.
Deals & Cases
September 21, 2026
DRI Healthcare’s Acquisition of Royalty Participation Rights in U.S. Net Sales of tavapadon
On September 21, 2026, DRI Healthcare Trust (“DRI Healthcare”), a pioneer in global pharmaceutical royalty monetization, announced that it has entered into purchase agreements to acquire certain royalty participation rights in U.S. net sales of tavapadon, an investigational Parkinson’s disease drug candidate, from funds managed by Bain Capital and NovaQuest Capital Management. Under the terms of the purchase agreements, DRI Healthcare will pay an aggregate purchase price of $316 million at closing. Following closing, DRI Healthcare will be entitled to receive tiered royalty payments on annual U.S. net sales of tavapadon, at combined tiered, mid‑single digit to low‑double digit royalty rates. DRI Healthcare will also be entitled to receive certain sales milestone payments upon first reaching certain cumulative U.S. net sales thresholds and four annual fixed payments of $23.4 million on the first four anniversaries of FDA approval of tavapadon. Aggregate receipts are subject to a contractual hard cap of $437.5 million. Cravath is representing DRI Healthcare in connection with the transaction.
Deals & Cases
September 04, 2026
Stanley Black & Decker’s Sale of Excel Industries to Bad Boy Mowers
On September 4, 2026, Stanley Black & Decker, a worldwide leader in Tools and Outdoor, announced that it has entered into a definitive agreement to sell its Excel Industries (“Excel”) business to Bad Boy Mowers. Excel is a leading designer and manufacturer of premium commercial and residential turf‑care equipment under the distinct brand of Hustler Turf Equipment (“Hustler”). Cravath is representing Stanley Black & Decker in connection with the transaction.
Publications
October 01, 2026
HLS Forum on Corporate Governance Publishes Cravath’s Q2 2026 Newsletter on M&A, Activism and Corporate Governance
On September 29, 2026, the Harvard Law School Forum on Corporate Governance published Cravath’s latest quarterly newsletter on M&A, activism and corporate governance. The newsletter provides insight into practical points, key takeaways and relevant developments across the M&A, activism, tax, regulatory and corporate governance landscape during the second quarter of 2026. Contributors to this edition include partners Margaret T. Segall, Evan A. Hill, Matthew L. Ploszek, Kimberley S. Drexler and Adam M. Sanchez.
Activities
September 17, 2026
Faiza Saeed, Gary Bornstein and Ting Chen Named to Forbes’s 2026 List of “America’s Top Lawyers”
On September 16, 2026, Cravath partners Faiza J. Saeed, Gary A. Bornstein and Ting S. Chen were named to Forbes’s 2026 list of “America’s Top Lawyers. The list recognizes “the leading dealmakers, litigators, advisers and strategists—at firms of all sizes—who stand apart in an extraordinarily competitive field” and “those who are defining modern legal excellence.”
Publications
September 10, 2026
Cravath Publishes Quarterly Review on Q2 2026 Trends in M&A, Activism and Corporate Governance
On September 9, 2026, Cravath published the latest edition of its Quarterly Review, which provides insight into practical points, key takeaways and relevant developments across the M&A, activism, tax, regulatory and corporate governance landscape. This edition covers:
Activities
July 08, 2026
Cravath and Dan Cerqueira Named Finalists for the New York Law Journal’s 2026 New York Legal Awards
On July 7, 2026, the New York Law Journal named Cravath a finalist for its “Law Firm of the Year: Large Firms” award, and partner Daniel J. Cerqueira a finalist for its “Dealmaker of the Year” award. Winners will be featured online and honored at an event in September.
Publications
July 02, 2026
Artificial Intelligence Developments – June 2026
On July 2, 2026, Cravath published the latest edition of its Artificial Intelligence Developments Newsletter, which includes a high-level review of activity across technical, regulatory, legal, and market areas of AI over the last month, highlighting selected new trends.
Cravath Bicentennial
Celebrating 200 years of partnership. In 2019, we celebrated our bicentennial. Our history mirrors that of our nation. Integral to our story is our culture.
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