Consumer Products and Services

On October 29, 2026, ADT Inc. (“ADT”), a leading provider of security, interactive and smart home solutions serving residential and small business customers in the U.S., and Thrive Holdings, a permanent capital holding company focused on investing in established businesses and advancing their capabilities through technology, announced a definitive agreement under which Thrive Holdings will acquire ADT in an all‑cash transaction. The agreement values ADT at approximately $7.6 billion in equity value and $15.3 billion in enterprise value. Under the terms of the agreement, which ADT’s Board of Directors unanimously approved, ADT stockholders will receive $10.00 per share in cash upon completion. Following completion, ADT will become privately held and its common stock will cease trading on the New York Stock Exchange. Cravath is representing ADT in connection with the transaction.

On October 29, 2026, DoorDash, Inc. (“DoorDash”) and Maplebear Inc. (d.b.a. Instacart) (“Instacart”) announced a definitive agreement under which DoorDash will acquire Instacart for a total value of $65.00 for each Instacart share, or an equity value of approximately $17 billion. The aggregate transaction consideration will be at least 75% cash, with Instacart stockholders able to elect cash, DoorDash stock, or a combination of both, subject to proration so that DoorDash stock does not exceed 25% of the aggregate consideration. Instacart's board of directors has unanimously approved the agreement. Cravath is representing Instacart in connection with the transaction.

Cravath represented the underwriters in connection with the $500 million registered notes offering of Brown‑Forman Corporation, a leading global spirits company. The transaction closed on September 21, 2026.

On September 9, 2026, the U.S. District Court for the Southern District of New York granted a motion to dismiss all claims in their entirety on behalf of Cravath client Oddity Tech Ltd. (“Oddity”) and individual defendants in a putative securities fraud class action. 

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.

On September 24, 2026, the Financial Times recognized Cravath for the second year in a row at the publication’s Innovative Lawyer Europe Awards 2026, which recognize the most innovative work and legal service lawyers have developed for their clients in Europe. Cravath was chosen as the winner in the “Private Capital” category in recognition of the Firm’s representation of the mandated lead arrangers and lenders in connection with the financing that supported the acquisition of Karo Healthcare by KKR. 

On September 9, 2026, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides insight into practical points, key takeaways and relevant developments related to the bond, equity and loan markets and restructuring activity during the second quarter of 2026. Highlights from this edition include:

Cravath partner Faiza J. Saeed was named to The Hollywood Reporter’s annual “Power Lawyers” list, which recognizes attorneys at the “top of their field” who “help keep the wheels of the industry turning” and was published in the April 8, 2026 issue of The Hollywood Reporter Magazine. The feature highlighted Faiza’s representation of Paramount Skydance in its pending $110 billion acquisition of Warner Bros. Discovery, Inc. and the Paramount Special Committee in connection with the company’s $8.4 billion merger with Skydance. She was also recognized for her representation of Hailey Bieber in rhode’s $1 billion acquisition by e.l.f. beauty. This is Faiza’s ninth year being recognized as a “Power Lawyer.”

On March 24, 2026, Cravath partners Robert I. Townsend III, Michael E. Mariani and Jin‑Kyu Baek were featured as 2026 “Dealmakers of the Year” by The American Lawyer in recognition of their representation of Kenvue in its $48.7 billion acquisition by Kimberly‑Clark. Putting together two companies of their size “is always a complex process,” said Mike. Added Bob, “from the Kenvue perspective, there was definitely a desire to either get to a transaction or pursue one of the other strategic alternatives” the board had considered – “it was a tremendous effort by the entire [Kenvue] management team.”

On March 11, 2026, at its annual U.S. Awards in New York, Benchmark Litigation honored Cravath partner Antony L. Ryan as its “Securities Litigator of the Year.” The awards recognize “the country’s most distinguished litigators and their firms for their exemplary work over the past twelve months.” At the awards ceremony, Benchmark Litigation highlighted Antony’s successful representation of Robinhood in the sprawling and high‑profile “meme stock” litigation.