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Cravath’s highly regarded antitrust practice is led by a former Commissioner of the Federal Trade Commission (FTC) and a former Principal Deputy Assistant Attorney General of the Department of Justice’s (DOJ) Antitrust Division, who are joined by a team of the country’s top antitrust practitioners. We leverage this deep experience and insight in 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- and law‑shaping competition matters for decades.

Cravath has an extensive track record of success in federal and state appellate courts across the country, for both appellants and appellees, repeatedly going “the distance in some of the thorniest, most complex trials and appeals” in the last several years. (The American Lawyer) We successfully defend positive results we achieve in the trial courts, including interlocutory appeals and appeals following trial or other disposition, and—in the face of adverse decisions—we persevere to obtain the best outcome for our clients, shaping the law in the process.

Cravath frequently and successfully represents U.S. and non-U.S. entities in domestic and international arbitrations involving diverse industries and various areas of the law. Our representations extend to clients in Asia, Europe, Latin America and the Middle East, as well as sovereign nations, often involving multibillion‑dollar disputes.

On July 30, 2026, TMX Group, a global provider of data, listing services, trading markets, clearing facilities and other services to the global financial community, announced a definitive agreement to make a strategic investment in MEMX, an exchange operator and market technology provider. Concurrent with that transaction, BOX, a U.S. equity options market with both electronic and floor-based trading, will be combined with MEMX, and TMX Group will have an approximately 59% ownership interest in the combined business. Under the terms of the agreement, this transaction will create a consolidated U.S. exchange group with an enterprise value of approximately $2.3 billion. The new entity will be funded by an equity investment from TMX Group of approximately $800 million, a rollover of TMX’s existing equity interest in BOX, committed rollovers from a group of MEMX and BOX investors, comprised of key market participants, and an investment from a new financial partner. Cravath is representing TMX Group in connection with the transaction.

Cravath represented the initial purchasers, arrangers and lenders in connection with the offering of €400 million in aggregate principal amount of senior secured notes and new revolving credit facilities of Pasubio, a PAI Partners portfolio company and a leading global supplier of luxury and premium leather and textile materials. Proceeds of the offering were used to redeem Pasubio’s existing senior secured notes, repay drawings under its existing revolving credit facility, pay transaction fees and expenses and for general corporate purposes. The transaction closed on July 27, 2026. 

Cravath is representing the mandated lead arrangers and agent in connection with the infrastructure financing made available to a consortium comprising Energy Capital Partners and KKR for the recommended take‑private acquisition of DCC Energy plc, valued at approximately £5.75 Billion. DCC Energy is a leader in multi‑energy sales and distribution in Europe and the U.S. and a constituent of the FTSE 100. The proposed transaction is subject to shareholder approval and receipt of customary regulatory approvals.

From the Firm’s inception, challenging pro bono work has been a cornerstone of our practice.

It takes more than great lawyers to make a great law firm. It takes an administrative staff that shares our lawyers’ commitment to quality and excellence. Cravath’s dedicated staff helps sustain our preeminent position among the world’s law firms. Our collaborative environment and singular record of success combine to provide you with an unparalleled opportunity to develop both professionally and personally.