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Corporate

Mergers and Acquisitions

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
  • Recent News & Insights

Deals & Cases

May 15, 2025

Greencore’s £1.2 Billion Recommended Acquisition of Bakkavor

On May 15, 2025, the boards of Greencore Group plc (“Greencore”), a leading manufacturer of convenience foods in the UK, and Bakkavor Group Plc (“Bakkavor”), a leading provider of fresh prepared food in the UK, announced that they have agreed the terms of a recommended acquisition of Bakkavor by Greencore at a base consideration which values each Bakkavor share at 200 pence, which implies Bakkavor’s entire issued and to be issued share capital is valued at approximately £1.2 billion. Under the terms of the transaction, Bakkavor shareholders will be entitled to (for each Bakkavor share): 0.604 new Greencore shares, 85 pence in cash and one contingent value right. Cravath is representing Greencore as U.S. counsel in connection with the transaction.

Deals & Cases

May 09, 2025

TaskUs’s Take‑Private Acquisition by its Co‑Founders and Blackstone

On May 9, 2025, TaskUs, Inc. (“TaskUs”), a leading provider of outsourced digital services and next‑generation customer experience to companies, announced it has entered into a definitive agreement to become a privately held company. Under the terms of the agreement, an affiliate of Blackstone, TaskUs Co‑Founder and Chief Executive Officer Bryce Maddock and TaskUs Co‑Founder and President Jaspar Weir (collectively the “Buyer Group”) will acquire 100% of the outstanding shares of Class A common stock they do not already own for $16.50 per share in an all-cash transaction. Upon completion of the transaction, the Company’s Class A common stock will no longer be listed on any public market. The TaskUs Board of Directors has approved the transaction upon the unanimous recommendation of a special committee of independent directors (the “Special Committee”), which was formed on March 20, 2025, in response to interest expressed by the Buyer Group in exploring a possible transaction. Cravath is representing the Special Committee in connection with the transaction.

Deals & Cases

May 07, 2025

Costamare’s Spin‑Off of Costamare Bulkers

On May 7, 2025, Costamare Inc. (“Costamare”) announced that it has completed the spin‑off of its dry bulk business into a standalone public company, Costamare Bulkers Holdings Limited (“Costamare Bulkers”). Each holder of Costamare common shares received one common share of Costamare Bulkers for every five Costamare common shares held as of the close of business on April 29, 2025. Cravath represented Costamare in connection with the transaction.

Deals & Cases

April 10, 2025

White Mountains’ Partnership to Acquire BroadStreet Partners

On April 10, 2025, an investor group led by White Mountains Insurance Group, Ltd. (“White Mountains”), Ethos Capital and British Columbia Investment Management Corporation announced it will acquire an ownership position in BroadStreet Partners, Inc. (“BroadStreet”), a leading North American insurance brokerage company. Under the terms of the agreement, Ontario Teachers’ Pension Plan will maintain a significant co‑control stake in BroadStreet and operate in partnership with the investment group. Cravath is representing White Mountains in connection with the transaction.

Deals & Cases

April 07, 2025

IBM’s Acquisition of Hakkoda

On April 7, 2025, IBM announced it has acquired Hakkoda Inc., a leading global data and AI consultancy. Hakkoda will expand IBM Consulting's data transformation services portfolio, adding specialized data platform expertise to help clients get their data ready to fuel AI‑powered business operations. Cravath is representing IBM in connection with the transaction.

Activities

May 19, 2025

Cravath Partners Named to Lawdragon’s Inaugural List of Leading Global Tax Lawyers

On May 16, 2025, Cravath partners Ron Creamer, Lauren Angelilli, J. Leonard Teti II, Christopher K. Fargo, Andrew T. Davis and Arvind Ravichandran were named to Lawdragon’s inaugural list of “500 Leading Global Tax Lawyers” in recognition of their work advising clients on the “tax aspects of M&A and other complex transactions.” The list highlights “outstanding leaders” who “preserve the balance between tax responsibilities and fiscal soundness on a global scale.” 

Publications

May 13, 2025

Cravath Publishes Quarterly Review on Q1 2025 Trends in M&A, Activism and Corporate Governance

On May 12, 2025, Cravath published the latest edition of its Quarterly Review, which has been redesigned for the Q1 2025 edition to provide greater insight into practical points, key takeaways and relevant developments across the M&A, activism, tax, regulatory and corporate governance landscape. This edition covers:

Activities

May 08, 2025

Kiran Sheffrin Speaks at PLI’s 2025 Tax Planning Program

On May 7, 2025, Cravath of counsel Kiran Sheffrin participated in “Tax Planning for Domestic & Foreign Partnerships, LLCs, Joint Ventures & Other Strategic Alliances 2025,” a program presented by the Practising Law Institute from May 6‑8, 2025, in New York. Kiran spoke on a panel entitled “Distressed Partnerships (Including Bankruptcy and CARES Act),” which reviewed the complexities that arise when a distressed borrower is a partnership, including the assorted types of restructuring transactions that can have varying effects on different partners.

Activities

May 01, 2025

Dan Cerqueira Co‑Chairs Panel at the American Bar Association’s 2025 International Law Section Annual Conference

On April 30, 2025, Cravath partner Daniel J. Cerqueira participated in the American Bar Association’s 2025 International Law Section Annual Conference, which was held from April 28 to May 1 in New York. The event hosted international attorneys from law firms, private organizations and global governmental institutions to discuss topics related to the theme of “Adapting to Today's International Legal Challenges.”

Activities

April 21, 2025

Faiza Saeed Named a 2025 Power Lawyer by The Hollywood Reporter

Cravath partner Faiza J. Saeed was named to The Hollywood Reporter’s annual “Power Lawyers” list, which recognizes “the entertainment industry’s most powerful legal advocates” and was published in the April 2, 2025 issue of The Hollywood Reporter Magazine. The feature highlighted Faiza’s representation of the Paramount Special Committee of independent directors in connection with Paramount’s $28 billion merger agreement with Skydance, as well as her representation of the independent Special Committee of Endeavor’s board of directors in connection with Endeavor’s $25 billion take private acquisition by Silver Lake. This is Faiza’s eighth year being recognized as a “Power Lawyer.”

Deals & Cases

May 15, 2025

Greencore’s £1.2 Billion Recommended Acquisition of Bakkavor

On May 15, 2025, the boards of Greencore Group plc (“Greencore”), a leading manufacturer of convenience foods in the UK, and Bakkavor Group Plc (“Bakkavor”), a leading provider of fresh prepared food in the UK, announced that they have agreed the terms of a recommended acquisition of Bakkavor by Greencore at a base consideration which values each Bakkavor share at 200 pence, which implies Bakkavor’s entire issued and to be issued share capital is valued at approximately £1.2 billion. Under the terms of the transaction, Bakkavor shareholders will be entitled to (for each Bakkavor share): 0.604 new Greencore shares, 85 pence in cash and one contingent value right. Cravath is representing Greencore as U.S. counsel in connection with the transaction.

Deals & Cases

May 09, 2025

TaskUs’s Take‑Private Acquisition by its Co‑Founders and Blackstone

On May 9, 2025, TaskUs, Inc. (“TaskUs”), a leading provider of outsourced digital services and next‑generation customer experience to companies, announced it has entered into a definitive agreement to become a privately held company. Under the terms of the agreement, an affiliate of Blackstone, TaskUs Co‑Founder and Chief Executive Officer Bryce Maddock and TaskUs Co‑Founder and President Jaspar Weir (collectively the “Buyer Group”) will acquire 100% of the outstanding shares of Class A common stock they do not already own for $16.50 per share in an all-cash transaction. Upon completion of the transaction, the Company’s Class A common stock will no longer be listed on any public market. The TaskUs Board of Directors has approved the transaction upon the unanimous recommendation of a special committee of independent directors (the “Special Committee”), which was formed on March 20, 2025, in response to interest expressed by the Buyer Group in exploring a possible transaction. Cravath is representing the Special Committee in connection with the transaction.

Deals & Cases

May 07, 2025

Costamare’s Spin‑Off of Costamare Bulkers

On May 7, 2025, Costamare Inc. (“Costamare”) announced that it has completed the spin‑off of its dry bulk business into a standalone public company, Costamare Bulkers Holdings Limited (“Costamare Bulkers”). Each holder of Costamare common shares received one common share of Costamare Bulkers for every five Costamare common shares held as of the close of business on April 29, 2025. Cravath represented Costamare in connection with the transaction.

Deals & Cases

April 10, 2025

White Mountains’ Partnership to Acquire BroadStreet Partners

On April 10, 2025, an investor group led by White Mountains Insurance Group, Ltd. (“White Mountains”), Ethos Capital and British Columbia Investment Management Corporation announced it will acquire an ownership position in BroadStreet Partners, Inc. (“BroadStreet”), a leading North American insurance brokerage company. Under the terms of the agreement, Ontario Teachers’ Pension Plan will maintain a significant co‑control stake in BroadStreet and operate in partnership with the investment group. Cravath is representing White Mountains in connection with the transaction.

Deals & Cases

April 07, 2025

IBM’s Acquisition of Hakkoda

On April 7, 2025, IBM announced it has acquired Hakkoda Inc., a leading global data and AI consultancy. Hakkoda will expand IBM Consulting's data transformation services portfolio, adding specialized data platform expertise to help clients get their data ready to fuel AI‑powered business operations. Cravath is representing IBM in connection with the transaction.

Activities

May 19, 2025

Cravath Partners Named to Lawdragon’s Inaugural List of Leading Global Tax Lawyers

On May 16, 2025, Cravath partners Ron Creamer, Lauren Angelilli, J. Leonard Teti II, Christopher K. Fargo, Andrew T. Davis and Arvind Ravichandran were named to Lawdragon’s inaugural list of “500 Leading Global Tax Lawyers” in recognition of their work advising clients on the “tax aspects of M&A and other complex transactions.” The list highlights “outstanding leaders” who “preserve the balance between tax responsibilities and fiscal soundness on a global scale.” 

Publications

May 13, 2025

Cravath Publishes Quarterly Review on Q1 2025 Trends in M&A, Activism and Corporate Governance

On May 12, 2025, Cravath published the latest edition of its Quarterly Review, which has been redesigned for the Q1 2025 edition to provide greater insight into practical points, key takeaways and relevant developments across the M&A, activism, tax, regulatory and corporate governance landscape. This edition covers:

Activities

May 08, 2025

Kiran Sheffrin Speaks at PLI’s 2025 Tax Planning Program

On May 7, 2025, Cravath of counsel Kiran Sheffrin participated in “Tax Planning for Domestic & Foreign Partnerships, LLCs, Joint Ventures & Other Strategic Alliances 2025,” a program presented by the Practising Law Institute from May 6‑8, 2025, in New York. Kiran spoke on a panel entitled “Distressed Partnerships (Including Bankruptcy and CARES Act),” which reviewed the complexities that arise when a distressed borrower is a partnership, including the assorted types of restructuring transactions that can have varying effects on different partners.

Activities

May 01, 2025

Dan Cerqueira Co‑Chairs Panel at the American Bar Association’s 2025 International Law Section Annual Conference

On April 30, 2025, Cravath partner Daniel J. Cerqueira participated in the American Bar Association’s 2025 International Law Section Annual Conference, which was held from April 28 to May 1 in New York. The event hosted international attorneys from law firms, private organizations and global governmental institutions to discuss topics related to the theme of “Adapting to Today's International Legal Challenges.”

Activities

April 21, 2025

Faiza Saeed Named a 2025 Power Lawyer by The Hollywood Reporter

Cravath partner Faiza J. Saeed was named to The Hollywood Reporter’s annual “Power Lawyers” list, which recognizes “the entertainment industry’s most powerful legal advocates” and was published in the April 2, 2025 issue of The Hollywood Reporter Magazine. The feature highlighted Faiza’s representation of the Paramount Special Committee of independent directors in connection with Paramount’s $28 billion merger agreement with Skydance, as well as her representation of the independent Special Committee of Endeavor’s board of directors in connection with Endeavor’s $25 billion take private acquisition by Silver Lake. This is Faiza’s eighth year being recognized as a “Power Lawyer.”

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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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