Corporate

Cravath represented the initial purchasers in connection with the $1.79 billion 144A/Reg. S high‑yield senior secured notes offering of CHS/Community Health Systems, Inc. CHS/Community Health Systems, Inc., together with its parent company, Community Health Systems, Inc., is one of the nation’s largest healthcare companies. Cravath also represented the dealer manager in connection with the concurrent $1.47 billion cash tender offer. The transactions closed on August 12, 2025.

On August 14, 2025, Fitch Learning, a global leader in financial learning and professional certifications, announced it signed an agreement with Moody’s to acquire two of their businesses, Moody’s Analytics Learning Solutions, a global provider of credit training, and the Canadian Securities Institute, a leading provider of professional certifications for the Canadian financial services industry. Cravath is representing Fitch Learning in connection with the transaction.

Cravath represented ADT Inc. (“ADT”) in connection with the registered secondary offering by affiliates of Apollo Global Management, LLC of approximately $678.5 million of shares of ADT common stock, including ADT’s repurchase of a portion of such shares. ADT is a leading provider of security, interactive and smart home solutions. The initial transaction closed on July 28, 2025.

On August 10, 2025, International Money Express, Inc. (“Intermex”) and The Western Union Company (“Western Union”) announced they have entered into a definitive agreement under which Western Union will acquire Intermex in an all‑cash transaction at $16.00 per share, representing a total equity and enterprise value of approximately $500 million. Cravath is representing Intermex’s Strategic Alternatives Committee in connection with the transaction.

Cravath represented Symetra Life Insurance Company (“Symetra Life”) in connection with its $500 million 144A/Reg. S surplus notes offering. Symetra Life is a wholly owned subsidiary of Symetra Financial Corporation, a financial services company in the life insurance industry. The transaction closed on July 24, 2025.

Cravath released the Summer 2025 issue of its Alumni Journal, which highlights the Firm’s global alumni community. This issue features the career journey of Ed Weiss, Executive Vice President, Corporate Strategy and General Counsel at Fenway Sports Group, as well as a recent conversation with Margot Miller, the Global Vice President of Legal & Corporate Affairs at AB InBev and the company’s e‑commerce platform, BEES. This edition also spotlights the Firm’s antitrust practice and includes photos of the Firm’s new London office, which was recently relocated to 100 Cheapside. 

On August 11, 2025, 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 2025. Highlights from this edition include:

On August 11, 2025, 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:

On August 11, 2025, Cravath published the latest edition of its Venture Capital & Growth Equity Insights newsletter, which has been redesigned to provide greater insight into global venture capital and related activity during the first half of 2025 and outlook for the rest of the year. Key takeaways from this edition include:

Cravath partners Ting S. Chen and Aaron M. Gruber were named to Crain’s New York Business’s list of “Notable M&A Dealmakers,” published on August 11, 2025.  The feature recognizes individuals “shaping M&A in New York,” who “exemplify the vision and execution powering today’s dealmaking.” The list was compiled based on a review of nominations for individuals serving in a senior leadership role, demonstrating significant impact in their field, and making community contributions.