Executive Compensation and Benefits

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.

Cravath represented Element Fleet Management Corp. in connection with its $500 million 144A/Reg. S senior notes offering. Element Fleet Management Corp. is the largest publicly traded pure‑play automotive fleet manager in the world. The transaction closed on May 29, 2026.

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 April 27, 2026, Thermo Fisher Scientific Inc. (“Thermo Fisher”), the world leader in serving science, announced that it has signed a definitive agreement to sell its microbiology business, which provides antimicrobial susceptibility testing and culture media solutions for clinical, pharmaceutical and food safety testing, to Astorg, a leading pan‑European private equity firm, for consideration of approximately $1.075 billion, consisting of cash and a $50 million seller note. Cravath is representing Thermo Fisher in connection with the transaction.

Cravath represented the administrative agents, joint lead arrangers and joint bookrunners in connection with a $5 billion revolving credit facility made available to Marathon Petroleum Corporation, a leading, integrated, downstream and midstream energy company, and a $2.5 billion revolving credit facility made available to MPLX LP, a master limited partnership formed by Marathon Petroleum Corporation. MPLX LP owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. The transactions closed on April 7, 2026.

Cravath named Aaron S. Cha and Joshua Kameel of counsels of the Firm, effective July 1, 2026. 

The 2026 edition of the Legal 500 United States ranked Cravath in the top tier nationally in 14 areas: Antitrust - Civil Litigation/Class Actions: Defense; Capital Markets: Debt Offerings (Advice to Issuers); Capital Markets: Debt Offerings (Advice to Underwriters); Capital Markets: Global Offerings (Advice to Issuers); Capital Markets: Global Offerings (Advice to Underwriters); Commercial Lending (Advice to Lenders); Employee Benefits, Executive Compensation and Retirement Plans: Transactional; Environment: Transactional; Financial Services Litigation; International Tax; M&A: Large Deals ($1bn+); M&A Litigation: Defense; Securities Litigation: Defense; and U.S. Taxes: Non‑contentious. In addition, 71 Cravath attorneys were individually recognized by Legal 500 United States this year.

The 2026 edition of Chambers USA ranked Cravath in the top tier nationally in seven areas: Antitrust; Capital Markets (Investment Grade Debt – Issuer Counsel); Capital Markets (Investment Grade Debt – Manager Counsel); Corporate Crime & Investigations (Highly Regarded); Corporate/M&A (The Elite); Securities (Regulation – Advisory); and Tax (Corporate & Finance). In New York, the Firm was ranked in the top tier in eleven areas: Antitrust; Bankruptcy/Restructuring (Highly Regarded); Corporate/M&A (The Elite); Employee Benefits & Executive Compensation; Environment (Mainly Transactional); Intellectual Property (Patent: Transactional); Media & Entertainment (Corporate); Litigation (General Commercial: The Elite); Litigation (Securities); Tax; and White‑Collar Crime & Government Investigations (Highly Regarded). Fifty‑one Cravath lawyers were ranked across nineteen practice categories.

On May 22, 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, restructuring, regulatory and corporate governance landscape. This edition covers:

In April 2026, Vault announced that Cravath was ranked No. 1 on its Vault Law 100, a ranking of the most prestigious law firms across the United States, for the eleventh consecutive year. The results of the annual list are based on surveys of more than 20,000 law firm associates. In publicizing its results, Vault highlighted comments from survey respondents who described the Firm as offering associates “real, hands‑on responsibility” with a “high degree of independence,” the opportunity to engage with work that is “almost entirely substantive” and “predominantly above what I understand is my ‘level’ from an industry standard” and to “build meaningful client relationships from day one.” Respondents were quoted noting Cravath’s “truly outstanding” training system and “very positive” associate‑partner relations. Writes Vault, “Cravath is known as one of the most elite law firms and has a strong reputation for its work in antitrust, banking and credit, capital markets, corporate governance, executive compensation and benefits, general litigation, M&A, securities litigation, tax, trusts and estates, and white collar defense.”