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Cravath, Swaine & Moore LLP

WORLDWIDE PLAZA, 825 EIGHTH AVENUE, NEW YORK, NY 10019-7475, USA
Tel:
Work +1 212 474 1000
Fax:
Fax +1 212 474 3700
Email:
Web:
www.cravath.com
London, New York

United States: Antitrust

Civil litigation/class actions
Civil litigation/class actions - ranked: tier 2

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP’s practice is led by Christine Varney, a former US Assistant Attorney General for Antitrust and FTC Commissioner. The firm has a particularly strong following of clients from the financial services sector; John Buretta is representing Nomura International in nine consolidated class actions involving allegations of collusion and price-fixing over SSA bonds. In another highlight, Daniel Slifkin and Michael Paskin are acting for Morgan Stanley in Re Interest Rate Swaps Antitrust Litigation. Kevin Orsini has experience representing American Express in high-profile antitrust disputes. Elsewhere, Rowan Wilson is representing Mylan Laboratories in a consolidated set of class actions centered on alleged reverse payment settlement agreements between Cephalon and various generic drugs manufacturers (including Mylan). Evan Chesler and Peter Barbur are other notable individuals.

Next generation lawyers

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Merger control
Merger control - ranked: tier 2

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP’s group, which is led by Christine Varney, manages challenging merger clearances for a client roster including names such as Alere, Dreamworks and Mylan. Varney and Peter Barbur are advising TimeWarner on the antitrust aspects of its $108.7m merger with AT&T. Complementing the team’s expertise in providing strategic advice as well as assisting with obtaining regulatory approvals for mergers, it also excels in government-initiated investigations and litigation. In addition to advising Anheuser-Busch InBev on US antitrust issues associated with its $123bn acquisition of SABMiller (and the $12bn divestiture of SABMiller’s US and global Miller-branded businesses to Molson Coors), Yonatan Even also defended the client against a related consumer antitrust suit.

Next generation lawyers

Yonatan Even - Cravath, Swaine & Moore LLP

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United States: Dispute resolution

Appellate: Supreme Court (federal and state)
Appellate: courts of appeals - ranked: tier 3

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP’s New York-based group is acting for Alcon Laboratories in a constitutional challenge of pricing regulations for manufacturers of contact lenses and represented the Republic of Argentina in the sovereign debt litigation. At the Sixth Circuit, Evan Chesler secured the affirmation of a dismissal of a putative class action against ESPN and ABC brought by former National Collegiate Athletic Association (NCAA) football and basketball players. American Express is a prominent client; the team secured a reversal of a district court judgment in antitrust proceedings concerning merchant acceptance rules and obtained a favorable outcome in a class action brought by consumers alleging conspiracy to adopt arbitration clauses barring class actions between May 1999 and October 2003. Richard Clary is also recommended.

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Corporate investigations and white-collar criminal defense
Corporate investigations and white-collar criminal defense - ranked: tier 5

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP’s lawyers are ‘succinct, refined, user-friendly, and very well versed in the ways of the regulators’. The firm’s work for Credit Suisse includes litigation concerning its sale of RMBS and alleged violations of the Anti-Terrorism Act, and it is defending Novartis against allegations of FCA and Anti-Kickback Statute violations. Other clients include Dreamworks Animation, which the firm is advising on an SEC investigation into its accounting. Key figures in the team, which is based in New York, include the ‘sophisticated, sensible and persuasiveJohn Buretta, Benjamin Gruenstein, David Stuart, Evan Chesler and Rachel Skaistis.

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Financial services: litigation
Financial services: litigation - ranked: tier 1

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP provides ‘thoughtful and thorough advice’ to a broad range of financial institutions on their most strategically important disputes. Noted for his ‘credibility and creativity’, Richard Clary has led Credit Suisse to numerous important victories in RMBS cases and recently represented it in an appellate hearing seeking to overturn the decision to deny the bank’s motion to dismiss - on the grounds of an expired limitation period - the $11bn damages case brought against it by the New York Attorney General. Alongside John Buretta and Michael Reynolds, Clary is also defending Credit Suisse in a sanctions case brought by US soldiers wounded in Iraq, alleging that it, along with other European banks, helped process monetary transactions for certain Iranian banks, which in turn were accused of funding Iran-backed terrorist groups. Buretta is also defending Nomura as one of the defendants accused of colluding to rig the agency bond market. Michael Paskin recently received plaudits for his innovative representation of the Argentinian government in its long-running creditor dispute, which enabled it to return to the global capital markets and thereby pay back its creditors. Daniel Slifkin was also involved in that case and is a key partner in the team that includes the ‘hardworking and astuteRobert Baron and Lauren Moskowitz.

Leading lawyers

Richard Clary - Cravath, Swaine & Moore LLP

Next generation lawyers

Lauren Moskowitz - Cravath, Swaine & Moore LLP Partner (3 years)

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General commercial disputes
General commercial disputes - ranked: tier 1

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP stands out for its ability to take on the full gamut of commercial litigation, with a client base that spans the financial services, pharmaceutical, retail, technology and media industries, among others. From its base in New York, the team handles disputes across the length of the country. Its representation of Alcon Laboratories is one example; David Marriott is representing the company in antitrust and consumer protection class action lawsuits in the Middle District of Florida, while he and Evan Chesler are also defending it in an employment dispute brought in the Southern District of New York. A team including Marriott, Chesler, Darin McAtee, Yonatan Even and Omid Nasab continued to represent NCR Corporation in multifaceted litigation brought under the Comprehensive Environmental Response, Compensation, and Liability Act. J Wesley Earnhardt is another key figure in the team.

Next generation lawyers

J Wesley Earnhardt - Cravath, Swaine & Moore LLP

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Leading trial lawyers

Evan Chesler - Cravath, Swaine & Moore LLP New York-based Evan Chesler’s sector expertise ranges from life sciences to sports. He has a stellar track record in appellate courts and represented Mylan Laboratories in antitrust litigation pertaining to reversed payment agreements between Cephalon and generic drug manufacturers; he also defended Novartis in two qui tam actions alleging violations of the False Claim Act (FCA) and Anti-Kickback Statute. Chesler’s activity in the securities area is reflected in his representation of Merck & Co alongside its current and former officers and directors in individual and class action securities cases pertaining to the development and sale of a prescription pain medication withdrawn from the market in 2004.

Richard Clary - Cravath, Swaine & Moore LLP New York-based Richard Clary’s expertise includes acting for large financial institutions in complex litigation across the country. Clary is defending Credit Suisse against allegations of civil conspiracy through assisting monetary transactions for certain Iranian commercial banks that were allegedly used by Iran to fund terrorist groups attacking US forces in Iraq; the suit is brought by veterans of war in Iraq and their estates. He is also defending the client in proceedings filed by Lehman Brothers Special Financing for the recovery of payments allegedly received by Credit Suisse from sponsored investments in synthetic collateralized debt obligations (CDOs).

Sandra Goldstein - Cravath, Swaine & Moore LLP A strong choice for securities, M&A and commercial litigation, Sandra Goldstein secured dismissal of consolidated putative class actions against Mylan Pharmaceuticals brought by its shareholders alleging breach of fiduciary and contractual duty following the company’s acquisition of Abbott Laboratories. Goldstein, based in New York, also assisted Starwood Hotels & Resorts Worldwide and its directors with the dismissal of a derivative suit brought by its shareholders alleging breach of fiduciary duty and other wrongdoing pertaining to the $13.3bn merger with Marriott International.

Leading trial lawyers

Evan Chesler - Cravath, Swaine & Moore LLP

Richard Clary - Cravath, Swaine & Moore LLP

Sandra Goldstein - Cravath, Swaine & Moore LLP

Robert Baron - Cravath, Swaine & Moore LLP

David Marriott - Cravath, Swaine & Moore LLP

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M&A: litigation: defense
M&A: litigation: defense - ranked: tier 1

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP provides ‘top-quality service with immediate responses and advice that is always spot on; the firm quickly finds creative and commercial resolutions’. Sandra Goldstein is ‘at the very top of the list of M&A litigators - few, if any, can match her tenacity and skillful advocacy’. She helped 3G Capital and HJ Heinz achieve settlement of a derivative action filed in Virginia state and federal courts and Illinois federal court arising from Heinz’s $60bn merger with Kraft Foods. Gary Bornstein’s highlights included the dismissal of a class action against his client AGL Resources regarding its $12bn acquisition by The Southern Company. Respected practitioner Robert Baron represented Grupo Villar Mir in settling a class action alleging breach of fiduciary duty in its merger with Globe Specialty Metals. The firm’s precedent-setting work included securing a dismissal for First Citizens BancShares that enables Delaware corporations to adopt foreign forum selection bylaws. Kevin Orsini is highly recommended. The firm counts IBM Corporation and British American Tobacco among its clients.

Leading lawyers

Gary Bornstein - Cravath, Swaine & Moore LLP

Sandra Goldstein - Cravath, Swaine & Moore LLP

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Securities litigation: defense
Securities litigation: defense - ranked: tier 1

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP in New York ‘certainly belongs in the top echelon of securities litigation firms’. Its continues to play a major role in high-profile cases such as In re Akorn, Inc Securities Litigation, in which head of litigation Daniel Slifkin, Antony Ryan and David Stuart are representing Akorn in a case alleging misrepresentation by the company and its board. The firm’s respected regulatory enforcement team is handling an SEC investigation into Akorn’s accounting restatements. Michael Paskin and Timothy Cameron’s recent highlights include Willis v Big Lots, Inc, et al, in which plaintiffs allege Big Lots made false statements about its financial performance and that executives earned $37m from insider trading. Richard Clary’s strong track record in RMBS matters continues with cases for Credit Suisse such as People of the State of New York v Credit Suisse Securities (USA) LLC, et al.Robert Baron is acting for Deutsche Bank Securities and Credit Suisse Securities; Evan Chesler and Karin DeMasi are handling the appeal of a class action against DreamWorks Animation; and Sandra Goldstein won dismissal of a case against ADT Corporation’s former CFO. The regulatory enforcement team has standout practitioners in Rachel Skaistis, John Buretta and Benjamin Gruenstein.

Leading lawyers

Antony Ryan - Cravath, Swaine & Moore LLP

Richard Clary - Cravath, Swaine & Moore LLP

Sandra Goldstein - Cravath, Swaine & Moore LLP

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United States: Finance

Capital markets: debt offerings
Capital markets: debt offerings - advice to issuers - ranked: tier 1

Cravath, Swaine & Moore LLP

Capital markets: debt offerings - advice to underwriters - ranked: tier 1

Cravath, Swaine & Moore LLP

At the top of the market for securities offerings’, Cravath, Swaine & Moore LLP is widely lauded for its ‘deep and well-qualified bench, from associate to senior partner level’. The New York-based practice continues to garner big-ticket mandates from both issuers and underwriters, and its diverse experience ensures it is regularly called upon by clients across all industry sectors. Craig Arcella is ‘undoubtedly a market leader’ and has been at the helm of a raft of headline deals recently, including advising the underwriters in Shire Acquisitions Investments Ireland’s $12.1bn senior debt offering, which was used to help fund Shire’s acquisition of Baxalta. William Whelan, another high-profile name, assisted the underwriters with two senior debt offerings by Express Scripts Holding worth a combined $6bn. Andrew Pitts also advised on several trophy deals, including acting for Royal Dutch Shell in two registered debt offerings totaling $12bn. Stephen Burns, William Fogg and up-and-coming partner Johnny Skumpija are also recommended. Kris Heinzelman retired in 2016.

Leading lawyers

Craig Arcella - Cravath, Swaine & Moore LLP

William Whelan - Cravath, Swaine & Moore LLP

Next generation lawyers

Johnny Skumpija - Cravath, Swaine & Moore LLP

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Capital markets: equity offerings
Capital markets: equity offerings - advice to issuers - ranked: tier 2

Cravath, Swaine & Moore LLP

Capital markets: equity offerings - advice to underwriters - ranked: tier 1

Cravath, Swaine & Moore LLP

The ‘first-class’ group at Cravath, Swaine & Moore LLP is widely lauded as ‘one of the best firms for underwriters’, but the New York-based team is also noted for advising issuers and continues to build on its company-side presence. Finance co-chair William Fogg is an ‘immensely talented lawyer’ and highly sought after by underwriters; he and Johnny Skumpija acted for the sales agents both in Freeport-McMoRan’s $1.5bn at-the-market offering, and in its $540m secondary at-the-market offering. North America capital markets head Andrew Pitts had a banner year and led on a slew of issuer and underwriter-side mandates, including advising Valvoline on its $759m IPO. Up-and-coming partner Scott Bennett also put in a strong performance; he acted with Pitts to advise the underwriters, led by Barclays, on Phillips 66 Partners’ $663m offering. Stephen Burns, LizabethAnn Eisen and William Whelan are also recommended. Kris Heinzelman retired in 2016.

Leading lawyers

Andrew Pitts - Cravath, Swaine & Moore LLP

William Fogg - Cravath, Swaine & Moore LLP

Next generation lawyers

Scott Bennett - Cravath, Swaine & Moore LLP

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Capital markets: global offerings
Capital markets: global offerings - advice to issuers - ranked: tier 2

Cravath, Swaine & Moore LLP

Capital markets: global offerings - advice to underwriters - ranked: tier 1

Cravath, Swaine & Moore LLP

Andrew Pitts heads the New York-based team at Cravath, Swaine & Moore LLP, which is almost evenly split between global debt and equity work. In 2016, the firm handled several capital markets deals linked to corporate spin-offs, such as its advice to Ashland and its spin-off company Valvoline, on a $375m high-yield global bond offering done through a special subsidiary, Valvoline Finco Two, which will eventually merge with Valvoline. Other significant highlights on the issuer side include advising Shell International Finance on two debt offerings totaling $12bn, and acting for Mylan in two debt offerings worth $7.5bn to help finance the acquisition of Meda. On the underwriter side, the firm advised Morgan Stanley, JP Morgan, Citigroup and Credit Suisse, on a $1.25bn high-yield offering by Alcoa. William Rogers retired, but the firm has a strong team of next generation partners, such as the recently promoted D. Scott Bennett. William Fogg is another name to note.

Leading lawyers

Andrew Pitts - Cravath, Swaine & Moore LLP

Next generation lawyers

D. Scott Bennett - Cravath, Swaine & Moore LLP

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Capital markets: high-yield debt offerings
Capital markets: high-yield debt offerings - advice to issuers - ranked: tier 2

Cravath, Swaine & Moore LLP

Capital markets: high-yield debt offerings - advice to underwriters - ranked: tier 2

Cravath, Swaine & Moore LLP

Among the best in the market’, the lawyers at Cravath, Swaine & Moore LLPwork seamlessly as part of the in-house team’ and have ‘very strong commercial acumen’. The firm’s eminent reputation is evidenced by a deal list that is well weighted in terms of volume between major issuer and manager-side mandates, however, the group’s work for underwriters remains particularly high profile. Among the firm’s recent work highlights, William Fogg and Johnny Skumpija advised the underwriters on two high-yield senior debt offerings by United Rentals totaling $1.5bn, while William Whelan and Craig Arcella assisted the initial purchasers with a series of offerings by Axalta Coating Systems, including a $500m offering and a €335m offering. Joseph Zavaglia also had a strong year, which included advising the initial purchasers on two high-yield debt offerings by Reynolds Group Issuer worth a combined $3.1bn.

Leading lawyers

Craig Arcella - Cravath, Swaine & Moore LLP

Next generation lawyers

Joseph Zavaglia - Cravath, Swaine & Moore LLP

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Commercial lending
Commercial lending: advice to borrowers - ranked: tier 2

Cravath, Swaine & Moore LLP

Commercial lending: advice to lenders - ranked: tier 1

Cravath, Swaine & Moore LLP

Praised for its ‘superlative commitment to client service’, Cravath, Swaine & Moore LLP has a well-established position as counsel of choice for banks on complex acquisition financings and investment-grade loans, in which James Cooper has a pre-eminent reputation. Borrower-side deals are also taking up more of the team’s time, with individuals such as corporate managing partner George Zobitz, Stephen Kessing, the ‘outstandingTatiana Lapushchik and Michael Goldman able to sit comfortably on both sides of the negotiating table. On the borrower side, the firm acted for Mylan on the $10bn bridge loan to finance its acquisition of Meda and refinance its existing debt; lender-side highlights included assisting JPMorgan Chase with a $3.6bn loan to finance American Axle & Manufacturing Holdings’ acquisition of Metaldyne Performance Group, and advising Goldman Sachs on a $2bn bridging facility to Fortis to finance its acquisition of ITC Holdings.

Leading lawyers

James Cooper - Cravath, Swaine & Moore LLP

Michael Goldman - Cravath, Swaine & Moore LLP

Next generation lawyers

Joseph Zavaglia - Cravath, Swaine & Moore LLP

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United States: Industry focus

Environment: transactional
Environment: transactional - ranked: tier 1

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP’s team advises clients on the full range of environmental issues arising out of business transactions, and frequently assists with capital markets access, dispute resolution and day-to-day operations management. Matthew Morreale heads the corporate department and is currently advising IBM on numerous acquisitions; these include its acquisition of product and technology business The Weather Company and its subsidiaries, the $2.6bn acquisition of Resource/Ammirati, and the purchase of Resilient Systems, a company specializing in security incident response solutions. Annmarie Terraciano is the other key practitioner and is assisting British American Tobacco with its proposed $93bn merger with Reynolds American. Other notable clients include Credit Suisse, Honeywell and Goldman Sachs.

Leading lawyers

Matthew Morreale - Cravath, Swaine & Moore LLP

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United States: Intellectual property

Patent litigation: full coverage
Patent litigation: full coverage - ranked: tier 4

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP acts for a range of clients at both trial and appellate level, and the firm’s cross-sector client list includes Avon Products, Merck and Amgen. Keith Hummel and David Greenwald are currently acting for Amgen in a suit brought by AbbVie, which alleges that the client’s biosimilar of the Humira drug infringes ten of its patents. The firm continues to represent Alarm.com in an action filed by Vivint, which alleges infringement of patents covering remote monitoring, equipment control and location-based alerting systems technology, and is also handling multiple infringement appeals for Mylan, following an unfavorable trial court decision handled by alternate counsel.

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United States: Labor and employment

Employee benefits and executive compensation (transactions)
Employee benefits and executive compensation (transactions) - ranked: tier 2

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP provides ‘the highest level of service’ in executive compensation and is ‘absolutely at the top of the scale’, according to clients. Practice head Eric Hilfers advised British American Tobacco on its $93bn merger with Reynolds American, and Jennifer Conway represented IBM in numerous transactions over the past year, including its acquisition of Bluewolf and The Weather Company’s produce and technology business. New partner Jonathan Katz handled matters for Alere, Mylan, and Starwood and is also a key contact.

Leading lawyers

Eric Hilfers - Cravath, Swaine & Moore LLP

Next generation lawyers

Jonathan Katz - Cravath, Swaine & Moore LLP

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United States: M&A/corporate and commercial

M&A: large deals ($1bn+)
M&A: large deals ($1bn+) - ranked: tier 1

Cravath, Swaine & Moore LLP

The ‘excellentCravath, Swaine & Moore LLP has a hugely impressive market share of headline and high-value M&A transactions, thanks partly to its illustrious client base that includes Time Warner, Anheuser-Busch InBev, Stanley Black & Decker, Unilever, Johnson & Johnson and IBM. In addition, it is frequently selected by one-off or occasional clients to advise on key deals, such as representing Starwood Hotels & Resorts Worldwide in its $13.3bn sale to Marriott International. The firm has a prolific domestic M&A practice and despite its modest international presence (it has one overseas office in London) it has an outstanding record in cross-border deals. The broad-based offering crosses all key industries, including financial services, broadcasting, and media and entertainment, with healthcare and technology having been particularly active of late. The firm advised longstanding client Time Warner on its proposed $108.7bn acquisition by AT&T. In cross-border deals, the firm advised British American Tobacco on its proposed $93bn merger with Reynolds American. Showcasing the firm’s standing in the technology sector and reputation on the West Coast, it advised the strategic review committee of the board of directors of Yahoo! on the $4.83bn acquisition of Yahoo’s operating business by Verizon. It also represented Dreamworks Animation SKG in its $4.1bn sale to NBCUniversal. Despite the departure of former co-head of the corporate department Scott Barshay to Paul, Weiss, Rifkind, Wharton & Garrison LLP in 2016, the firm maintains a deep bench of leading senior practitioners and is also widely recognized for its ability to nurture young talent; it did however lose up-and-comer Jonathan Davis to Kirkland & Ellis LLP at the end of 2016. Ting Chen, Aaron Gruber and Keith Hallam are prominent names that have all achieved partner status in the last five years. At the senior end Faiza Saeed, Mark Greene and Richard Hall are outstanding names, along with Damien Zoubek and ‘awesome lawyer’ Robert Townsend, who was the lead partner on a series of major recent transactions. John White is ‘tremendously knowledgeable and responsive’.

Leading lawyers

Faiza Saeed - Cravath, Swaine & Moore LLP

Mark Greene - Cravath, Swaine & Moore LLP

Richard Hall - Cravath, Swaine & Moore LLP

Robert Townsend - Cravath, Swaine & Moore LLP

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United States: Media, technology and telecoms

Media and entertainment
Media and entertainment - ranked: tier 1

Cravath, Swaine & Moore LLP

Highlights for Cravath, Swaine & Moore LLP, hailed as ‘one of the premier M&A firms in the field’, include advising Amblin Partners and Steven Spielberg on the formation of Amblin Partners by DreamWorks Studios, Participant Media, Reliance Entertainment and Entertainment One. Faiza Saeed led the matter and is also assisting DreamWorks Animation, alongside Eric Schiele and Ting Chen, with its sale to NBCUniversal, totaling $4.1bn. The practice also has a notable contentious element and in a recent appeal before the Ninth Circuit, Karin DeMasi, Evan Chesler and Benjamin Gruenstein secured affirmation of a dismissal on behalf of DreamWorks Animation in a consolidated securities class action suit relating to the alleged misrepresentation of the financial performance of the company’s animated film Turbo. DeMasi and Chesler are also representing Warner Bros Entertainment and New Line Cinema in a dispute with Miramax and the Weinstein brothers regarding the revenue shares from the second and third installments of The Hobbit franchise. Other clients include ABC, Barnes & Noble, Time Warner and Vivendi. All attorneys mentioned are based in New York.

Leading lawyers

Faiza Saeed - Cravath, Swaine & Moore LLP

Next generation lawyers

Ting Chen - Cravath, Swaine & Moore LLP

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Technology: transactions
Technology: transactions - ranked: tier 2

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP’s experience includes traditional corporate transactions such as M&A, securities offerings, corporate governance and commercial bank financings, as well as pure technology transactions that are frequently driven by IP; examples include technology licensing and development transactions and technology-related joint ventures. The firm has represented multinational technology and consulting company IBM for decades, and between December 2015 and October 2016 it acted for the client in nine acquisitions, including of The Weather Company’s product and technology businesses and of Truven Health Analytics. It also recently advised mobile tech company Qualcomm on the finance and antitrust aspects of its $47bn acquisition of NXP Semiconductors. Other major clients include Barnes & Noble, Xerox, Yahoo! and Naspers. George Schoen and David Kappos are recommended.

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Telecoms and broadcast: transactional
Telecoms and broadcast: transactional - ranked: tier 3

Cravath, Swaine & Moore LLP

At Cravath, Swaine & Moore LLP, the well-regarded Robert Townsend leads the practice, which focuses on advising telecoms companies such as Rogers Communications and Crown Castle on M&A, restructurings, high-profile financing transactions, tax and IP issues. Eric Schiele and Faiza Saeed are advising Time Warner on its acquisition by AT&T; they are also assisting Yahoo! with Verizon’s $4.8bn acquisition of its operating business. Stephen Burns, Damien Zoubek and Johnny Skumpija are key names to note; Skumpija advised Cox Communications on a $1bn debt offering. All attorneys mentioned are based in New York.

Leading lawyers

Robert Townsend - Cravath, Swaine & Moore LLP

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United States: Tax

International tax
International tax - ranked: tier 1

Cravath, Swaine & Moore LLP

Recent highlights for the international tax practice at Cravath, Swaine & Moore LLP include an asset swap between client AB InBev and Ambev - handled by head of tax Stephen Gordon, Lauren Angelilli and Christopher Fargo - in which the former will transfer SABMiller’s Panamanian business to the latter and the latter will transfer its business in Colombia, Peru and Ecuador to the former. Andrew Needham and J Leonard Teti handled numerous transactions for IBM, including its cross-border acquisition of Israel-based EZ Legacy. DreamWorks Animation, Goldman Sachs and Johnson & Johnson are also among the firm’s clients.

Leading lawyers

Andrew Needham - Cravath, Swaine & Moore LLP

Michael Schler - Cravath, Swaine & Moore LLP

Stephen Gordon - Cravath, Swaine & Moore LLP

Next generation lawyers

Christopher Fargo - Cravath, Swaine & Moore LLP

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US taxes: non-contentious
US taxes: non-contentious - ranked: tier 1

Cravath, Swaine & Moore LLP

A top firm’, Cravath, Swaine & Moore LLP fields ‘a savvy team of lawyers’ that combines ‘knowledge of the finer points of law with pragmatic solutions’. The team, which has particular expertise in M&A, joint ventures, spin-offs, restructuring and securities, is providing tax advice to AB InBev on an asset swap with Ambev, which involves the transfer of SABMiller’s business in Panama to Ambev and Ambev’s transfer of its business in Colombia, Peru and Ecuador to AB Inbev. Stephen Gordon, Lauren Angelilli and Christopher Fargo led the team on that matter, while Leonard Teti is advising Avon on tax matters connected to its $605m strategic partnership with Cerberus Capital Management and Andrew Needham is assisting British American Tobacco with its $93bn proposed merger with Reynolds American. Other key clients include Amblin Partners, DreamWorks Animation, Unilever, Johnson & Johnson and Honeywell International.

Leading lawyers

Andrew Needham - Cravath, Swaine & Moore LLP

Stephen Gordon - Cravath, Swaine & Moore LLP

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Latin America: International firms

Capital markets
Capital markets - ranked: tier 5

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP has a niche high-end practice that has a particularly strong record in jurisdictions such as Chile, where it is noted for investment grade deals. Brazil and Mexico are also key jurisdictions and the firm is paying close attention to Argentina’s re-emergence on the global stage. Bank clients include JP Morgan, Citigroup, Credit Suisse, Deutsche Bank and Wells Fargo, and it represents issuer clients such as Bacardi, Grupo Modelo, Naspers and Santander Consumer. In 2015, the firm advised JB y Compañía, in connection with its $500m Rule 144A/Reg. S senior debt offering. London partner David Mercado spends much of his time in New York where he advises a number of Latin America clients and banks with interests in the region. Also London-based, Joel Herold is another experienced partner with an established record in Latin America and is noted for his high-yield debt expertise. New York’s Scott Bennett is an increasingly pivotal member of the team and has extensive experience in the debt capital markets space.

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Corporate and M&A
Corporate and M&A - ranked: tier 3

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP is an ‘excellent firm’ that has close connections to the Latin America region. It works with a number of Latin American family groups and investment banks that have interests there. London-based practice head and Latin America specialist David Mercado covers both M&A and capital markets, and is supported by a number of M&A partners in New York who are frequently engaged in Latin America deals. These include Richard Hall, Craig Arcella and Scott Bennett while Joel Herold provides further Latin America expertise from London. 3G Capital, the Brazilian global investment firm, is a key client of the practice, and in 2015 the firm advised HJ Heinz Company and 3G Capital in connection with Heinz’s $60bn merger with Kraft Foods. In addition, the firm advised the Cisneros Group in connection with the merger of the Venezuela-based business activities of the Cisneros-controlled Cerveceria Regional and Companhia de Bebidas das Americas (AmBev). Other clients include Anheuser-Busch InBev, Casa Cuervo, Cutrale Group, Naspers, OUTFRONT Media and Safra Group.

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