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Cravath’s London Office Moves to 100 Cheapside

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Litigation

Antitrust

Antitrust

Led by two former Commissioners of the Federal Trade Commission (FTC)–one of whom also served as U.S. Assistant Attorney General for Antitrust at the Department of Justice (DOJ)–Cravath’s highly regarded antitrust practice provides a wealth of experience and insight with respect to formulating global antitrust strategy, securing regulatory clearance for mergers and acquisitions, and bringing or defending against charges of anticompetitive behavior. Clients turn to Cravath for their most significant—and often unprecedented—antitrust concerns, and we have played a central role in industry‑shaping competition matters for decades.

Merger Clearance

Our interdisciplinary antitrust team handles regulatory clearance for some of the world’s largest transactions, including advising on Anheuser‑Busch InBev’s $123 billion acquisition of SABMiller; British American Tobacco’s $97 billion merger with Reynolds American; Mylan’s $50 billion combination with Upjohn to form Viatris; and Cisco’s $28 billion acquisition of Splunk. We regularly interface with competition agencies in the United States and internationally, and we work closely with our clients to develop a deep understanding of their business. Our integrated approach positions us not only to provide the “answer,” but also to assist each client in finding the right and workable business solution.

Litigation

Complex antitrust litigation is a hallmark of Cravath’s practice, and we bring to bear courtroom excellence and government experience to deliver the most comprehensive, innovative and tactical antitrust advice to our clients around the world. We handle private antitrust litigation covering the entire spectrum, from managing class actions spread across the country to litigating individual actions in a single jurisdiction. Trained as generalists, our litigators see the broader picture and are able to navigate the intersection between antitrust law and other areas, including securities and intellectual property, to devise creative and holistic solutions.

We also excel at critical enforcement actions, with an exceptional track record trying and winning cases against the government. “As antitrust enforcement ramps up globally, Cravath has taken [on] a number of high‑profile cases in the new regulatory environment,” ultimately securing major victories for our clients in closely watched actions against both the FTC and DOJ. (The American Lawyer)

Investigations

In addition, we handle a variety of public and non-public antitrust‑related governmental investigations domestically and around the world, including investigations related to transactions and allegations of price fixing, coordination in output, monopolization and industry‑wide conspiracy.

Recognition

Year after year, Cravath’s team is recognized at the top of the nation’s most highly regarded antitrust practices. Chambers USA distinguishes our attorneys for handling “cutting‑edge matters at the forefront of antitrust,” and has repeatedly named Cravath its “Antitrust Law Firm of the Year.” We also have been honored numerous times as “Antitrust Firm of the Year” by Benchmark Litigation, “Regional Firm of the Year – Americas” by Global Competition Review (“GCR”) and “Competition Practice Group of the Year” by Law360. The Firm’s transactional and litigation matters are frequently recognized for their innovation and impact by Benchmark Litigation, GCR, and the Financial Times. In addition, we are consistently ranked as a top‑tier firm by leading industry publications including Benchmark Litigation, Chambers USA, GCR and The Legal 500 US.

Our team has earned repeated praise from clients, the market and the press, including: 

  • “[T]he cream of the crop. This is the firm to use if you are faced with high‑stakes antitrust litigation.” Client, Best Lawyers Best Law Firms
  • “Among the very best at steering a merger through the review process. They are sophisticated and keen advocates.” Testimonial, The Legal 500 US
  • The Firm “has kept hundreds of billions in deals going through the antitrust agencies while also maintaining plenty of significant litigation.” GCR 100
  • “Antitrust is an area where many claim to have expertise but only a few firms really shine. Cravath is one of those few.” Testimonial, The Legal 500 US
  • “Cravath, Swaine & Moore is one of the best antitrust firms in the US, with outstanding understanding of the relationship between IP and antitrust.” Qualcomm Head of Global Antitrust, Best Lawyers Best Law Firms
  • An “impressive and varied group that advises and litigates on antitrust matters, often with an international flavor,” whose “practitioners are well versed in the overlap between antitrust and other areas, such as securities and IP law.” Chambers USA
  • “The U.S. Supreme Court decision in Ohio v. American Express offered more than redemption to one of America’s iconic companies, as well as to the team of trial lawyers from Cravath who took a 10‑year journey with their client to taste sweet victory. For Amex, the case was a gutsy validation of its business model and of CEO Kenneth Chenault’s belief – not only in its exclusive card – but also in his Cravath team.” Lawdragon

Merger Clearance

Our interdisciplinary antitrust team handles regulatory clearance for some of the world’s largest transactions, including advising on Anheuser‑Busch InBev’s $123 billion acquisition of SABMiller; British American Tobacco’s $97 billion merger with Reynolds American; Mylan’s $50 billion combination with Upjohn to form Viatris; and Cisco’s $28 billion acquisition of Splunk. We regularly interface with competition agencies in the United States and internationally, and we work closely with our clients to develop a deep understanding of their business. Our integrated approach positions us not only to provide the “answer,” but also to assist each client in finding the right and workable business solution.

Litigation

Complex antitrust litigation is a hallmark of Cravath’s practice, and we bring to bear courtroom excellence and government experience to deliver the most comprehensive, innovative and tactical antitrust advice to our clients around the world. We handle private antitrust litigation covering the entire spectrum, from managing class actions spread across the country to litigating individual actions in a single jurisdiction. Trained as generalists, our litigators see the broader picture and are able to navigate the intersection between antitrust law and other areas, including securities and intellectual property, to devise creative and holistic solutions.

We also excel at critical enforcement actions, with an exceptional track record trying and winning cases against the government. “As antitrust enforcement ramps up globally, Cravath has taken [on] a number of high‑profile cases in the new regulatory environment,” ultimately securing major victories for our clients in closely watched actions against both the FTC and DOJ. (The American Lawyer)

Investigations

In addition, we handle a variety of public and non-public antitrust‑related governmental investigations domestically and around the world, including investigations related to transactions and allegations of price fixing, coordination in output, monopolization and industry‑wide conspiracy.

Recognition

Year after year, Cravath’s team is recognized at the top of the nation’s most highly regarded antitrust practices. Chambers USA distinguishes our attorneys for handling “cutting‑edge matters at the forefront of antitrust,” and has repeatedly named Cravath its “Antitrust Law Firm of the Year.” We also have been honored numerous times as “Antitrust Firm of the Year” by Benchmark Litigation, “Regional Firm of the Year – Americas” by Global Competition Review (“GCR”) and “Competition Practice Group of the Year” by Law360. The Firm’s transactional and litigation matters are frequently recognized for their innovation and impact by Benchmark Litigation, GCR, and the Financial Times. In addition, we are consistently ranked as a top‑tier firm by leading industry publications including Benchmark Litigation, Chambers USA, GCR and The Legal 500 US.

Our team has earned repeated praise from clients, the market and the press, including: 

  • “[T]he cream of the crop. This is the firm to use if you are faced with high‑stakes antitrust litigation.” Client, Best Lawyers Best Law Firms
  • “Among the very best at steering a merger through the review process. They are sophisticated and keen advocates.” Testimonial, The Legal 500 US
  • The Firm “has kept hundreds of billions in deals going through the antitrust agencies while also maintaining plenty of significant litigation.” GCR 100
  • “Antitrust is an area where many claim to have expertise but only a few firms really shine. Cravath is one of those few.” Testimonial, The Legal 500 US
  • “Cravath, Swaine & Moore is one of the best antitrust firms in the US, with outstanding understanding of the relationship between IP and antitrust.” Qualcomm Head of Global Antitrust, Best Lawyers Best Law Firms
  • An “impressive and varied group that advises and litigates on antitrust matters, often with an international flavor,” whose “practitioners are well versed in the overlap between antitrust and other areas, such as securities and IP law.” Chambers USA
  • “The U.S. Supreme Court decision in Ohio v. American Express offered more than redemption to one of America’s iconic companies, as well as to the team of trial lawyers from Cravath who took a 10‑year journey with their client to taste sweet victory. For Amex, the case was a gutsy validation of its business model and of CEO Kenneth Chenault’s belief – not only in its exclusive card – but also in his Cravath team.” Lawdragon
  • Deals & Cases
  • Recent News & Insights

Deals & Cases

July 21, 2025

ZimVie’s Acquisition by ARCHIMED

On July 21, 2025, ZimVie Inc. (“ZimVie”), a global life sciences leader in the dental implant market, announced their entry into a definitive agreement pursuant to which ZimVie will be acquired by an affiliate of ARCHIMED (“ARCHIMED”), an investment firm focused exclusively on healthcare industries. Under the terms of the merger agreement, ZimVie stockholders will receive $19.00 in cash for each share of ZimVie common stock outstanding at the closing of the transaction, corresponding to an enterprise value of approximately $730 million. Cravath is representing ZimVie in connection with the transaction.

Deals & Cases

July 07, 2025

White Mountains’ Acquisition of a Majority Stake in Distinguished

On July 7, 2025, White Mountains Insurance Group, Ltd. (“White Mountains”), a Bermuda‑domiciled financial services holding company, announced it has entered into an agreement to acquire a majority stake in Distinguished Programs (“Distinguished”), an MGA and program administrator for special property & casualty insurance. White Mountains will acquire approximately 50% of Distinguished’s outstanding equity interests for $230 million, which will result in White Mountains holding a 51% controlling interest in Distinguished following the closing of the transaction. Cravath is representing White Mountains in connection with the transaction.

Deals & Cases

June 23, 2025

Illumina’s Acquisition of SomaLogic

On June 23, 2025, Illumina, Inc. (“Illumina”) announced it has entered into a definitive agreement with Standard BioTools under which Illumina will acquire SomaLogic, a leader in data‑driven proteomics technology, and other specified assets for $350 million in cash payable at closing, subject to customary adjustments, plus up to $75 million in near-term performance‑based milestones and performance‑based royalties. Cravath is representing Illumina in connection with the transaction.

Deals & Cases

June 04, 2025

Flowserve’s $19 Billion Merger of Equals with Chart

On June 4, 2025, Flowserve Corporation (“Flowserve”) and Chart Industries, Inc. (“Chart”) announced that they have entered into a definitive agreement to combine in an all-stock merger of equals, creating a differentiated leader in industrial process technologies. The combined company is expected to have an enterprise value of approximately $19 billion based on the exchange ratio and the closing share prices for Flowserve and Chart as of June 3, 2025. Under the agreement, which has been unanimously approved by the board of directors of each company, at the closing of the transaction Chart shareholders will receive 3.165 shares of Flowserve common stock for each share of Chart common stock owned. Following the close of the transaction, Flowserve shareholders will own approximately 46.5% and Chart shareholders will own approximately 53.5% of the combined company, on a fully diluted basis. Cravath is representing Flowserve in connection with the transaction.

Deals & Cases

May 26, 2025

WiseTech Global’s $2.1 Billion Acquisition of e2open

On May 25, 2025, WiseTech Global, developer of leading logistics execution software CargoWise, announced it has entered into a binding agreement to acquire E2open Parent Holdings, Inc. (“e2open”), a U.S.‑based leading provider of SaaS solutions in the global logistics value chain, for $3.30 per share in cash equating to an enterprise value of $2.1 billion. Cravath is representing WiseTech Global in connection with the transaction.

Publications

July 11, 2025

Tim Cameron Authors U.S. Chapter for The Legal 500’s 2025 Litigation Country Comparative Guide

Cravath partner Timothy G. Cameron authored the U.S. chapter of The Legal 500’s 2025 “Litigation Country Comparative Guide,” which provides an overview of the law and practice of litigation and dispute resolution across a variety of jurisdictions. The chapter discusses the legal and regulatory frameworks governing commercial disputes in the United States, including how proceedings are commenced and when decisions can be appealed. The chapter also examines the potential for increased antitrust litigation in the coming years, and how technology such as automation and artificial intelligence may continue to streamline the litigation process.

Activities

July 09, 2025

Gary Bornstein Named to Bloomberg Law’s Inaugural Unrivaled List

On June 25, 2025, Cravath partner Gary A. Bornstein was named to Bloomberg Law’s inaugural “Unrivaled” list, which recognizes 32 trial lawyers nationwide “who lead the legal profession in high-stakes and impactful trials and settlements.” The accompanying profile highlighted Gary’s representation of Epic Games in its successful antitrust litigation against Google, which has included victory in a jury trial determining Google engaged in anti-competitive behavior in the distribution of mobile apps and handling of in-app payments. Gary explained his trial strategy of “keeping it simple and letting the evidence speak for itself.” Gary also spoke about the importance of credibility in the courtroom, saying “judges and juries always spot inauthenticity, and they never forgive you when you breach their trust. We are advocates, but we cannot advocate effectively if our audience does not believe what we say.” Offering advice to young trial lawyers, Gary said: “Say yes. When opportunities arise, take them. Even if you think you’re not ready, grab the chance to learn. At the beginning of your career, every time you speak in court, you get better at it.”

Firm News

June 20, 2025

Cravath Announces New Partners and Of Counsels

Cravath has elected the following new partners, who will become members of the Firm on July 1, 2025:

Activities

June 12, 2025

Legal 500 United States Ranks Cravath in Top Tier Across 15 Practice Areas and Recognizes 79 Cravath Attorneys

The 2025 edition of the Legal 500 United States ranked Cravath in the top tier nationally in 15 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; General Commercial Disputes; International Tax; M&A: Large Deals ($1bn+); M&A Litigation: Defense; Securities Litigation: Defense; and U.S. Taxes: Non‑contentious. In addition, 79 Cravath attorneys were individually recognized by The Legal 500 United States this year.

Activities

June 11, 2025

Gary Bornstein Named a 2025 New York Power Lawyer by The Hollywood Reporter

Cravath partner Gary A. Bornstein was named to The Hollywood Reporter’s “New York Power Lawyers” list, which recognizes New York’s top entertainment lawyers, selected based on “the impact of their cases, the profiles of their clients and their reputation for success,” and was published in the June 4, 2025 issue of The Hollywood Reporter Magazine. The feature highlighted Gary’s representation of Epic Games in its successful antitrust litigation against Google, requiring Google to distribute alternative app stores on the Google Play Store, and against Apple, securing a permanent injunction against Apple’s anti‑steering policies for in‑app payments.

Deals & Cases

July 21, 2025

ZimVie’s Acquisition by ARCHIMED

On July 21, 2025, ZimVie Inc. (“ZimVie”), a global life sciences leader in the dental implant market, announced their entry into a definitive agreement pursuant to which ZimVie will be acquired by an affiliate of ARCHIMED (“ARCHIMED”), an investment firm focused exclusively on healthcare industries. Under the terms of the merger agreement, ZimVie stockholders will receive $19.00 in cash for each share of ZimVie common stock outstanding at the closing of the transaction, corresponding to an enterprise value of approximately $730 million. Cravath is representing ZimVie in connection with the transaction.

Deals & Cases

July 07, 2025

White Mountains’ Acquisition of a Majority Stake in Distinguished

On July 7, 2025, White Mountains Insurance Group, Ltd. (“White Mountains”), a Bermuda‑domiciled financial services holding company, announced it has entered into an agreement to acquire a majority stake in Distinguished Programs (“Distinguished”), an MGA and program administrator for special property & casualty insurance. White Mountains will acquire approximately 50% of Distinguished’s outstanding equity interests for $230 million, which will result in White Mountains holding a 51% controlling interest in Distinguished following the closing of the transaction. Cravath is representing White Mountains in connection with the transaction.

Deals & Cases

June 23, 2025

Illumina’s Acquisition of SomaLogic

On June 23, 2025, Illumina, Inc. (“Illumina”) announced it has entered into a definitive agreement with Standard BioTools under which Illumina will acquire SomaLogic, a leader in data‑driven proteomics technology, and other specified assets for $350 million in cash payable at closing, subject to customary adjustments, plus up to $75 million in near-term performance‑based milestones and performance‑based royalties. Cravath is representing Illumina in connection with the transaction.

Deals & Cases

June 04, 2025

Flowserve’s $19 Billion Merger of Equals with Chart

On June 4, 2025, Flowserve Corporation (“Flowserve”) and Chart Industries, Inc. (“Chart”) announced that they have entered into a definitive agreement to combine in an all-stock merger of equals, creating a differentiated leader in industrial process technologies. The combined company is expected to have an enterprise value of approximately $19 billion based on the exchange ratio and the closing share prices for Flowserve and Chart as of June 3, 2025. Under the agreement, which has been unanimously approved by the board of directors of each company, at the closing of the transaction Chart shareholders will receive 3.165 shares of Flowserve common stock for each share of Chart common stock owned. Following the close of the transaction, Flowserve shareholders will own approximately 46.5% and Chart shareholders will own approximately 53.5% of the combined company, on a fully diluted basis. Cravath is representing Flowserve in connection with the transaction.

Deals & Cases

May 26, 2025

WiseTech Global’s $2.1 Billion Acquisition of e2open

On May 25, 2025, WiseTech Global, developer of leading logistics execution software CargoWise, announced it has entered into a binding agreement to acquire E2open Parent Holdings, Inc. (“e2open”), a U.S.‑based leading provider of SaaS solutions in the global logistics value chain, for $3.30 per share in cash equating to an enterprise value of $2.1 billion. Cravath is representing WiseTech Global in connection with the transaction.

Publications

July 11, 2025

Tim Cameron Authors U.S. Chapter for The Legal 500’s 2025 Litigation Country Comparative Guide

Cravath partner Timothy G. Cameron authored the U.S. chapter of The Legal 500’s 2025 “Litigation Country Comparative Guide,” which provides an overview of the law and practice of litigation and dispute resolution across a variety of jurisdictions. The chapter discusses the legal and regulatory frameworks governing commercial disputes in the United States, including how proceedings are commenced and when decisions can be appealed. The chapter also examines the potential for increased antitrust litigation in the coming years, and how technology such as automation and artificial intelligence may continue to streamline the litigation process.

Activities

July 09, 2025

Gary Bornstein Named to Bloomberg Law’s Inaugural Unrivaled List

On June 25, 2025, Cravath partner Gary A. Bornstein was named to Bloomberg Law’s inaugural “Unrivaled” list, which recognizes 32 trial lawyers nationwide “who lead the legal profession in high-stakes and impactful trials and settlements.” The accompanying profile highlighted Gary’s representation of Epic Games in its successful antitrust litigation against Google, which has included victory in a jury trial determining Google engaged in anti-competitive behavior in the distribution of mobile apps and handling of in-app payments. Gary explained his trial strategy of “keeping it simple and letting the evidence speak for itself.” Gary also spoke about the importance of credibility in the courtroom, saying “judges and juries always spot inauthenticity, and they never forgive you when you breach their trust. We are advocates, but we cannot advocate effectively if our audience does not believe what we say.” Offering advice to young trial lawyers, Gary said: “Say yes. When opportunities arise, take them. Even if you think you’re not ready, grab the chance to learn. At the beginning of your career, every time you speak in court, you get better at it.”

Firm News

June 20, 2025

Cravath Announces New Partners and Of Counsels

Cravath has elected the following new partners, who will become members of the Firm on July 1, 2025:

Activities

June 12, 2025

Legal 500 United States Ranks Cravath in Top Tier Across 15 Practice Areas and Recognizes 79 Cravath Attorneys

The 2025 edition of the Legal 500 United States ranked Cravath in the top tier nationally in 15 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; General Commercial Disputes; International Tax; M&A: Large Deals ($1bn+); M&A Litigation: Defense; Securities Litigation: Defense; and U.S. Taxes: Non‑contentious. In addition, 79 Cravath attorneys were individually recognized by The Legal 500 United States this year.

Activities

June 11, 2025

Gary Bornstein Named a 2025 New York Power Lawyer by The Hollywood Reporter

Cravath partner Gary A. Bornstein was named to The Hollywood Reporter’s “New York Power Lawyers” list, which recognizes New York’s top entertainment lawyers, selected based on “the impact of their cases, the profiles of their clients and their reputation for success,” and was published in the June 4, 2025 issue of The Hollywood Reporter Magazine. The feature highlighted Gary’s representation of Epic Games in its successful antitrust litigation against Google, requiring Google to distribute alternative app stores on the Google Play Store, and against Apple, securing a permanent injunction against Apple’s anti‑steering policies for in‑app payments.

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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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