Mergers and Acquisitions

On June 29, 2026, Martin Marietta Materials, Inc. (“Martin Marietta”), a leading supplier of aggregates and other building materials, announced that it has entered into a definitive agreement to combine with Lhoist North America, Inc. (“Lhoist North America”), a leading producer of hi‑calcium lime, dolomitic lime and industrial mineral products and a subsidiary of Lhoist Group, for $13.5 billion in cash and shares of Martin Marietta common stock. The transaction is expected to be completed in the second half of 2026, subject to regulatory approvals. Cravath is representing Martin Marietta in connection with the transaction.

On June 23, 2026, Westinghouse Electric Corporation (“Westinghouse”) announced its intention to partner with the U.S. Department of Energy (“DOE”) Office of Energy Dominance Financing (“EDF”) under the American Nuclear Supply Chain Loans program. The program will enable investment in nuclear supply chains and accelerate deployment of new nuclear generation at scale in the United States. EDF has announced a conditional commitment (subject to Westinghouse, its owners and its partners satisfying certain conditions) of $17.5 billion in obligated funds to finance the purchase of long‑lead time items (“LLI”) for up to 10 Westinghouse AP1000® units, the only fully designed and licensed advanced commercial reactor operating in the United States today. Westinghouse will partner with up to five eligible utilities or energy companies to procure LLI for projects with two reactors each and has signed letters of intent with seven potential partners with identified sites. Cravath is representing Westinghouse in connection with the transaction.

On June 16, 2026, Olin Corporation and Huntsman Corporation announced that they have entered into a definitive agreement to combine in an all-stock merger of equals to create a $12+ billion North American chemicals leader. Under the terms of the agreement, Huntsman shareholders will receive 0.5476 shares in Olin for every one share of Huntsman. Upon completion of the transaction, Olin shareholders will own approximately 54.5% and Huntsman shareholders will own approximately 45.5% of the combined company, which will be renamed OlinHuntsman Corporation. Upon closing of the transaction, current Olin President and Chief Executive Officer, Ken Lane, will serve as Chief Executive Officer of OlinHuntsman. Current Chairman, President and Chief Executive Officer of Huntsman, Peter Huntsman, will serve as non-executive Chairman of OlinHuntsman’s Board of Directors. OlinHuntsman’s Board of Directors will consist of ten members, with equal representation from Olin and Huntsman. The transaction is expected to close in the first half of 2027, subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals and the approval of Olin’s shareholders and Huntsman’s shareholders. Cravath is representing Olin Corporation in connection with the transaction.

On May 8, 2026, Array Digital Infrastructure, Inc. (“Array”) confirmed that its board of directors has received a non‑binding proposal from Telephone and Data Systems, Inc. (“TDS”) to acquire all of the outstanding common shares of Array not currently owned by TDS. Currently, TDS owns approximately 81.9% of the outstanding capital stock of and 95.9% of the voting interests in Array. The proposal is conditioned on, among other things, the recommendation of a special committee of disinterested and independent directors of Array and the approval by a majority of the votes cast by disinterested stockholders. Cravath is representing the special committee in connection with the proposal.

On April 27, 2026, Integris, a national leader in managed AI and IT services backed by OMERS Private Equity, announced its intent, subject to regulatory approval, to acquire First Focus, the largest managed service provider serving small and midsize businesses in Australia, New Zealand and the Philippines. Cravath is representing Integris as U.S. counsel in connection with the transaction.

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.

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 partner Evan A. Hill was featured on a June 19, 2026 episode of the M&A Advisor Podcast, entitled “Risk & Returns: Creating Success in Business and Life.” The episode includes a conversation between Evan and former U.S. Secretary of Commerce Wilbur Ross, which originally took place as a fireside chat at The M&A Advisor’s 2026 Distressed Investing Summit in Palm Beach, Florida. The discussion covers Ross’ memoir and lessons from his career, reviewing the importance of relationship building and calculated risk‑taking, offering tips for successful negotiation and sharing advice for the next generation of entrepreneurs. 

On June 26, 2026, Cravath partners Kevin J. Orsini and Andrew C. Compton were named to Lawdragon’s 2026 list of “500 Global Leaders in Energy,” for their work advising clients in the energy sector on Litigation and Corporate matters, respectively. This is the second consecutive year Kevin and Andrew have been featured by Lawdragon for their energy‑related work. 

On June 24, 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, restructuring, regulatory and corporate governance landscape during the first 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.