Cravath’s London Office Moves to 100 Cheapside
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
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.
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 14, 2025
Epic Games Secures Decision that Apple Violated Anti‑Steering Injunction
On April 30, 2025, the U.S. District Court for the Northern District of California granted Cravath client Epic Games, Inc.’s (“Epic”) motion to enforce a nationwide permanent injunction against Apple, Inc.’s (“Apple”) anti‑steering policies for in‑app payments. Epic secured the injunction to restrain and prohibit Apple’s anticompetitive conduct and fees, following a three‑week bench trial in May 2021, in which Cravath also represented Epic. In its April decision, the Court ruled that Apple was in willful violation of the 2021 injunction, having thwarted the injunction’s goals and continued its anticompetitive conduct. The Court noted that “Apple willfully chose not to comply with this Court’s Injunction. It did so with the express intent to create new anticompetitive barriers which would, by design and in effect, maintain a valued revenue stream; a revenue stream previously found to be anticompetitive. That it thought this Court would tolerate such insubordination was a gross miscalculation.” As a result, the Court enjoined Apple from implementing its new restrictions and fees that violated the injunction, effective immediately.
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.
Activities
June 06, 2025
Chambers USA Ranks Cravath in Top Tier for 2025 Across Corporate, Litigation and Tax Practice Areas
The 2025 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/M&A (The Elite); Securities (Litigation); Securities (Regulation – Advisory); and Tax (Corporate & Finance). In New York, the Firm was ranked in the top tier in eight areas: Antitrust; Bankruptcy/Restructuring (Highly Regarded); Corporate/M&A (The Elite); Environment (Mainly Transactional); Litigation (General Commercial: The Elite); Litigation (Securities); Media & Entertainment (Corporate); and Tax. Fifty‑four Cravath lawyers were ranked across 23 practice categories.
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:
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.
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 14, 2025
Epic Games Secures Decision that Apple Violated Anti‑Steering Injunction
On April 30, 2025, the U.S. District Court for the Northern District of California granted Cravath client Epic Games, Inc.’s (“Epic”) motion to enforce a nationwide permanent injunction against Apple, Inc.’s (“Apple”) anti‑steering policies for in‑app payments. Epic secured the injunction to restrain and prohibit Apple’s anticompetitive conduct and fees, following a three‑week bench trial in May 2021, in which Cravath also represented Epic. In its April decision, the Court ruled that Apple was in willful violation of the 2021 injunction, having thwarted the injunction’s goals and continued its anticompetitive conduct. The Court noted that “Apple willfully chose not to comply with this Court’s Injunction. It did so with the express intent to create new anticompetitive barriers which would, by design and in effect, maintain a valued revenue stream; a revenue stream previously found to be anticompetitive. That it thought this Court would tolerate such insubordination was a gross miscalculation.” As a result, the Court enjoined Apple from implementing its new restrictions and fees that violated the injunction, effective immediately.
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.
Activities
June 06, 2025
Chambers USA Ranks Cravath in Top Tier for 2025 Across Corporate, Litigation and Tax Practice Areas
The 2025 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/M&A (The Elite); Securities (Litigation); Securities (Regulation – Advisory); and Tax (Corporate & Finance). In New York, the Firm was ranked in the top tier in eight areas: Antitrust; Bankruptcy/Restructuring (Highly Regarded); Corporate/M&A (The Elite); Environment (Mainly Transactional); Litigation (General Commercial: The Elite); Litigation (Securities); Media & Entertainment (Corporate); and Tax. Fifty‑four Cravath lawyers were ranked across 23 practice categories.
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:
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