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M&A: large deals ($1bn+) in United States

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP is an undisputed market-leader for blockbuster deals and smaller multibillion-dollar transactions, working successfully in a variety of industries for an enviable blue-chip client base. The team closed a number of significant transactions in 2020, including Mylan’s $50bn combination with Upjohn, and Viacom’s $30bn merger with CBS Corporation. It also represented Justeat.com in its $7.3bn combination with Grubhub, a significant development in the home delivery market. Among the team's leadership are highly respected transactional counsels and senior leaders, including Faiza Saeed, the team’s presiding partner, corporate chair Mark Greene, North American head of M&A Robert Townsend III, and EMEA corporate chair Richard Hall, all of whom have remained active in big-ticket M&A on the buy and sell-side. Damien Zoubek is also noted for his broad practice, encompassing M&A, shareholder activism defense, distressed transactions and bankruptcy auctions, and corporate governance. Zoubek has played a key role in many of the firm’s biggest highlights. Ting Chen continues to bolster her profile, working on notable deals such as Illumina’s $8bn acquisition of GRAIL, and the Ricketts family’s sale of TD Ameritrade to Charles Schwab for an estimated $26bn. Aaron Gruber and Keith Hallam are also names to note; they played key roles in the Mylan and Viacom transactions, respectively, and also led on a range of smaller transactions. All named lawyers are based in the firm's New York office.

Practice head(s):

Faiza Saeed; Mark Greene; Robert Townsend III; Richard Hall

Other key lawyers:

Damien Zoubek; Ting Chen; Aaron Gruber; Keith Hallam

Testimonials

‘Cravath is simply put the best firm out there in this area. They have the best knowledge and business approach and are great to work with.’

Key clients

Cincinnati Bell

Eidos

Johnson & Johnson

Just Eat Takeaway.com

Illumina

Lindsay Goldberg

Mylan

Peugeot

Viacom

The Walt Disney Company

Work highlights

  • Represented Mylan N.V. in its $50bn combination with Upjohn, Pfizer Inc.’s off-patent branded and generic established medicines business, forming the new global pharmaceutical company Viatris Inc.
  • Represented Viacom Inc.’s Transaction Committee of the Board in connection with Viacom’s $30bn merger with CBS Corporation.
  • Represented Deutsche Telekom AG in its Master Framework Agreement with SoftBank Group Corp. and T-Mobile US, Inc. realigning the ownership and governance of T-Mobile, pursuant to which DT consented to SoftBank’s sale of T-Mobile shares for $20bn.

Davis Polk & Wardwell LLP

Davis Polk & Wardwell LLP has maintained its strong position at the top of the M&A market, closing a number of headline transactions during 2020 and expanding its involvement in SPAC and activist investor matters. Notable mandates include representing Charles Schwab in its $26bn acquisition of TD Ameritrade, and also representing Gilead Sciences in its $21bn acquisition of Immunomedics, reflecting the team's broad sector expertise and capabilities in handling large-scale, business-critical transactions, as well as strategic acquisitions and investments. The department is jointly led by experienced transactional attorneys George Bason, a prolific dealmaker and corporate adviser to blue-chip companies; William Aaronson, who has been involved in transactions for the likes of Comcast and Mastercard in recent years; and Louis Goldberg, who handles a variety of public and private M&A, joint ventures, and activist shareholder issues. Also recommended are Lee Hochbaum, a name to note for SPAC transactions; Marc Williams, who advised Gilead and Morgan Stanley on major transactions during 2020; and Oliver Smith, another go-to-name for strategic acquisitions.

Practice head(s):

George Bason; William Aaronson; Louis Goldberg

Other key lawyers:

Lee Hochbaum; Marc Williams; Oliver Smith

Key clients

Bristol-Myers Squibb

Citigroup

Comcast

Charles Schwab

Clarivate

Emerson

ExxonMobil

General Electric

Gilead Sciences

Heineken

Freeport-McMoRan

L Brands

Mastercard

McKesson

Morgan Stanley

PepsiCo

PricewaterhouseCoopers

Roche

Takeda

Tyson Foods

VF Corp

Williams Companies

Work highlights

  • Advised Charles Schwab on its $26bn all-stock acquisition of TD Ameritrade.
  • Advising Gilead Sciences on its $21bn acquisition of Immunomedics.
  • Advised Morgan Stanley on its $13bn acquisition of E*TRADE.

Kirkland & Ellis LLP

Kirkland & Ellis LLP remains a destination practice for high-profile M&A, advising a litany of blue-chip clients on large-scale transactions in a number of key industries. The firm has seen an uptick in tech transactions due to the impacts of the Covid-19 pandemic, and notably closed the $7.3bn acquisition of Grubhub by JustEast, the first public M&A transaction since the pandemic began. Other notable transactions closed during 2020 include Bristol Myers Squibb's $90bn acquisition of Celgene, and AbbVie's $83bn purchase of Allergan. The practice fields a deep bench of market-leading names, including senior dealmaker David FoxDaniel Wolf, who led advice on the Grubhub deal; and Jonathan Davis, who maintained his profile as an up-and-coming lawyer. Eric Schiele has a strong record in public company M&A and governance work, including hostile takeover defense and work with special committees, and Sarkis Jebejian is also noted for his broad corporate practice, acting for notable clients including Lazard and Tripadvisor. In a major development, the practice was significantly strengthened by the arrivals of the widely respected Edward Lee from Wachtell, Lipton, Rosen & KatzIvan Schlager, who joined the Washington DC team from Skadden, Arps, Slate, Meagher & Flom LLP; and most recently Rachael Coffey, who was previously at Paul, Weiss, Rifkind, Wharton & Garrison LLP. Named lawyers are in New York unless stated otherwise.

Other key lawyers:

David Fox; Daniel Wolf; Jonathan Davis; Eric Schiele; Sarkis Jebejian; Edward Lee; Ivan Schlager; Rachael Coffey

Key clients

Bristol Myers Squibb Company

AbbVie Inc.

Danaher Corporation

WellCare Health Plans, Inc.

WPX Energy

Infineon Technologies AG

Grubhub

Delphi Technologies PLC

Cambrex Corporation

Huntsman Corporation

Fox Corporation

Work highlights

  • Advised Bristol Myers Squibb Company on its acquisition of Celgene Corporation in a cash and stock transaction for $90bn.
  • Advised AbbVie Inc on its acquisition of Allergan in a cash and stock transaction for $83bn.
  • Advised Centerview Partners LLC and Lazard Frères & Co. as financial advisers to the Special Committee of CBS Corp’s. Board of Directors on CBS Corp.’s combination with Viacom.

Latham & Watkins LLP

Latham & Watkins LLP has an active and diverse M&A offering, working with blue-chip Fortune 500 clients on both a repeat basis and as a specialist deal counsel. Regular workflows for the team include strategic and balance sheet acquisitions and sales, business-critical M&A, and SPAC-related transactions. The firm has benefited from its investment in the tech and life sciences sectors, having recently closed several major transactions in those industries. Standout mandates in 2020 include representing NVIDIA in its landmark $40bn acquisition of Arm Limited, and acting for Siemens Health in its $16.3bn purchase of Varian Health Systems. The team is led by Silicon Valley-based Luke Bergstrom and Houston's Michael Dillard. In Orange County, Charles Ruck has a strong record in tech-related mega-deals—having led the NVIDIA transaction among others—while Josh Dubofsky has advised on a variety of public and private M&A in multiple key industries, also working closely with boards on wider corporate concerns, including activist investor issues. In New York, Justin Hamill is an up-and-coming specialist in high-value M&A, and has been particularly active in SPAC deals, including OpenDoor's $4.8bn merger with Social Capital Hedosophia Holdings Corp. Also in New York, Peter Harwich regularly advises major listed companies on strategic acquisitions and larger bet-the-company deals.

Practice head(s):

Luke Bergstrom; Michael Dillard

Other key lawyers:

Charles Ruck; Josh Dubofsky; Justin Hamill; Peter Harwich

Testimonials

‘The team at Latham is unsurpassed in its experience handling large deals of varied types: public-public combinations, sponsor-led acquisitions, representing strategic buyers in competitive bid situations, etc. Their deep experience with the players involved in a deal enables them to provide practical advice that anticipates pain points and leads to good outcomes.’

‘Charles Ruck is the lead partner. Charles is as experienced, seasoned and professional as he is laid back, flexible and fun. He is a pro at speaking to non-legal executives (CEO, CFO and other business leads) in a way that makes complex deal issues accessible and he weighs in effectively on material business decisions, while knowing legal’s place in a growth business, i.e. not coming off as arrogant or out of touch with business objectives. Charles has built an incredible team of knowledgeable, skilled, client-service orientated deal soldiers who emanate his unique combination of surgical precision and flexibility.’

The LW team we work with has a remarkable degree of market presence. They participate in an unusually large proportion of the deals occurring in our sector (energy). As a result, their grasp of market trends and terms is very current and based on real personal experience. I think that distinguishes their advice from that of teams whose information is more second-hand. The members of our LW team are extremely practical and creative. They work hard to develop solutions for us, and they are not afraid to give real, reasoned advice even when the law may be unclear.’

‘Deep domain knowledge, ability to react quickly and complete things in a timely manner. Brings other parts of the firm together as needed.’

‘Josh Dubofsky thinks about things from a business perspective, not just a legal perspective. He sees the big picture and knows what points to go for and what points to give on.’

‘Josh Dubofsky is a brilliant legal mind who has been through every possible issue which may arise in a transaction and therefore is always able to come up with a creative solution. Josh not only provides best in class legal advice but he also understands the business of the client and its needs and tailors his advice to it.

Key clients

Aon PLC

J.P. Morgan

NVIDIA Corporation

Advanced Micro Devices, Inc.

Siemen Healthineers

Grail, Inc.

Intuit, Inc.

Momenta Pharmaceuticals, Inc.

Advantage Solutions, Inc.

DXC Technology Company

Opendoor Labs, Inc.

Shell Midstream Partners, L.P., Conflicts Committee of Shell Midstream Partners, L.P.

Honey Science Corporation

Postmates Inc.

Aimmune Therapeutics, Inc.

Callaway Golf Company

Desktop Metal, Inc.

RMG Acquisition Corporation

Nestlé USA, Inc.

Work highlights

  • Advising NVIDIA on its pending $40bn acquisition of Arm Limited from Japan-based SoftBank.
  • Advising Germany-based Siemens Health on its pending $16.4bn acquisition of Varian Medical Systems.
  • Advising Inuit on its pending $7.1bn acquisition of the prominent fintech startup Credit Karma.

Paul, Weiss, Rifkind, Wharton & Garrison LLP

Paul, Weiss, Rifkind, Wharton & Garrison LLP is recognized here for its blue-chip client base and its deep and experienced team of transactional lawyers, who have a range of sector expertise and capabilities in wider corporate issues, including governance, shareholder issues, and takeover defense. The team regularly acts for major clients such as Chevron, Anadarko, and IBM on large-scale deals with significant market impact. Scott Barshay is a key name, and is a long-standing adviser to IBM, Chevron, and other key clients. In 2020 Barshay advised Teledoc on its $18.5bn acquisition of Livongo Health, a major development in the telehealth industry. Recently-promoted partner Laura Turano also played a key role in that mandate. Other names to note include Robert Schumer, a regular adviser to clients including CBS and Authentic Brands with great expertise in both transactions and activist defense work; global M&A co-chair Jeffrey Marell, who works with top corporates as well as investment funds; Ariel Deckelbaum, a trusted adviser to corporates, high-net-worth individuals, and alternative asset managers; and Steven Williams, an experienced M&A counsel with a diverse practice encompassing domestic and cross-border transactions, joint ventures, and takeover defense. Kyle Seifried is a prolific younger partner who has worked on major deals including Chevron's $13bn acquisition of Noble Energy.

Practice head(s):

Scott Barshay

Other key lawyers:

Robert Schumer; Ariel Deckelbaum; Jeffrey Marell; Steven Williams; Laura Turano; Kyle Seifried

Key clients

Apollo Global Management

IBM

Chevron Corporation

Kraft Heinz

General Electric

Qualcomm

General Motors

Teladoc Health

Honeywell

ViacomCBS

Work highlights

  • Advised the Special Committee of the Board of Directors of CBS Corp. on its merger with Viacom to form ViacomCBS Inc.
  • Advised General Electric on the $21.4bn carve-out sale of its BioPharma business to Danaher Corporation.
  • Advising Teladoc Health, Inc., a New York-based telemedicine and virtual healthcare company, on its $18.5bn acquisition of Livongo Health, Inc.

Simpson Thacher & Bartlett LLP

Simpson Thacher & Bartlett LLP's experienced team forms a key part of an integrated service group capable of handling all aspects of large-scale, complex transactions, including domestic and cross-border M&A, with expertise in key areas including financial services, energy, and private equity, complemented by recognized tax and regulatory capabilities. The team is led by the vastly experienced Mario Ponce and Alan Klein, who are active in high-profile M&A. Ponce acted on deals for BorgWarner and Harsco Corporation during 2020, while Klein represented Microsoft in its major $7.5bn acquisition of Zenimax. Lee Meyerson is another key team member with a major profile within the M&A space, and advised TD Bank on the $26bn sale of TD Ameritrade to Charles Schwab. Eric Swedenburg is recognized for his broad range of expertise across domestic and cross-border M&A, corporate governance advice, and securities issues, while Elizabeth Cooper bolstered her record with the representation of Refinitiv in its $27bn sale to London Stock Exchange. Katie Sudol is also noted for her growing profile, advising clients such as Borgwarner, while Anthony Vernace remains highly active across public and private M&A. All named lawyers are in New York.

Practice head(s):

Mario Ponce; Alan Klein

Other key lawyers:

Lee Meyerson; Eric Swedenburg; Katie Sudol; Elizabeth Cooper

Key clients

American Electric Power

Aramark

Avantor Performance Materials Holdings LLC

Best Buy Co. Inc.

BMC Stock Holdings

The Boeing Company

BorgWarner Inc.

Cooper-Standard Holdings Inc.

CSL Behring

Cypress Semiconductor

Dell Technologies

Fifth Third Bancorp

First Data Corporation

Gates Corporation

Gerdau S.A.

Harsco Corporation

Hilton Worldwide Holdings Inc.

IBERIABANK Corporation

Ingersoll Rand, Inc.

J2 Global, Inc.

Johnson Controls International

L3 Harris

La Quinta Holdings Inc.

Mars, Inc.

McKesson Corporation

Melrose Industries PLC

Microsoft Corporation

The Mosaic Company

NN, Inc.

Owens-Illinois, Inc.

Owens & Minor, Inc.

People’s United Bank

PetSmart, Inc.

PG&E Corporation

Refinitiv

RPM International Inc.

Sirius XM Radio Inc.

Teleflex Incorporated

The Toronto-Dominion Bank

USAA

Vistra Energy Corp.

Vivint Smart Home, Inc.

Vivint Solar, Inc

Walgreens Boots Alliance, Inc.

Waste Management, Inc.

Work highlights

  • Represented Refinitiv in its definitive agreement to be acquired by London Stock Exchange Group in an all share transaction for a total enterprise value of approximately $27bn.
  • Represented TD Bank in its sale of its share in TD Ameritrade to the Charles Schwab Corporation for $26bn.
  • Represented Gardner Denver Holdings Inc in its merger with Ingersoll-Rand plc’s Industrial segment, valued at $15bn.

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden, Arps, Slate, Meagher & Flom LLP is a destination M&A practice, combining prolific deal flow with regular involvement in large-scale, complex deals in a variety of industries. Noted for its capabilities in cross-border M&A, as well as in major domestic deals, the team has recently handled standout transactions for Xilinx and Willis Towers Watson, with Xilinx's $35bn sale to Advanced Micro Devices ranking as one of the largest deals of the year. The practice is further supported by noted expertise in antitrust and regulatory clearances, allowing it to handle all aspects of complex deals. Key senior practitioners in the team include Stephen ArcanoPeter Atkins and Howard Ellin, in New York; and Kenton King and Sonia Nijjar on the West Coast.

Other key lawyers:

Stephen Arcano; Peter Atkins; Howard Ellin; Kenton King; Sonia Nijjar

Work highlights

  • Advising Xilinx, Inc on its $35bn acquisition by Advanced Micro Devices, Inc.
  • Co-counsel to Willis Towers Watson in its all-stock business combination with Aon.
  • Advising DuPont de Nemours, Inc. in the merger of its Nutrition & Biosciences business with International Flavors & Fragrances, which will create a $45.4bn business.

Sullivan & Cromwell LLP

Sullivan & Cromwell LLP has a strong profile in public company M&A, acting for major multinationals and domestic companies on key strategic transactions, including large-scale cross border mandates as well as US-domiciled deals. Rodgin Cohen, Joseph Frumkin, and Francis Aquila are names to note in New York, and Alison Ressler is a contact in Los Angeles.

Wachtell, Lipton, Rosen & Katz

Wachtell, Lipton, Rosen & Katz has a strong track record in market-shaping transactions. Contacts in the team include Martin Lipton, Adam Emmerich, Edward Herlihy, Daniel Neff, Steven Rosenblum and David Katz.

Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb Steen & Hamilton is a destination firm for blue-chip corporates engaging in large-scale, business-critical M&A, with a strong record in handling major transactions across a wide range of industries. The firm has an integrated model, allowing it to handle industry-specific issues, alongside tax, financing, and regulatory considerations, and also has standout capabilities in cross-border M&A, both inbound and outbound. The team is led by David Leinwand, an experienced dealmaker with a strong record in tech and consumer products transactions. Paul Shim is recognized as a major player in public and private M&A, regularly contributing to thought leadership in the space. He has enjoyed an active year, with notable transactions including advising ArcelorMittal on its $3.3bn sale to Cleveland Cliffs. Benet O’Reilly has also been prolific, having advised long-standing client  Flavors & Fragrances Inc. on its $45.4bn merger with DuPont’s Nutrition & Biosciences, one of the largest recorded Reverse Morris Trust transactions. James Langston is noted for his growing profile in both domestic and cross-border transactions as well as wider corporate advice, including fiduciary duties and corporate governance issues, while junior partner Kimberly Spoerri is also emerging as a major transactional player, advising on complex M&A for the likes of American Tower. Kyle Harris was promoted to partner in January 2020. Neil Whoriskey is now with Milbank.

Practice head(s):

David Leinwand

Other key lawyers:

Paul Shim; Benet O’Reilly; James Langston; Kimberly Spoerri

Testimonials

‘Extremely knowledgeable and experienced; smart and pragmatic.’

Key clients

3M Company

Allied Universal

Alphabet/Google

American Express

ArcelorMittal

General Mills

International Flavors & Fragrances

MEDNAX

National Amusements

OpenText

Saint-Gobain

Schibsted

Sony

Tempur Sealy International

Work highlights

  • Advised International Flavors and Fragrances on its agreement with DuPont for the merger of IFF and DuPont’s Nutrition & Biosciences (N&B) business in a Reverse Morris Trust transaction.
  • Advising American Tower on its $3.5bn acquisition of InSite Wireless Group, one of the largest privately owned tower and wireless infrastructure companies in the US.
  • Representing Schibsted ASA on Adevinta’s $9.2bn acquisition of eBay Classifieds Holdings Inc.

Debevoise & Plimpton LLP

Debevoise & Plimpton LLP combines a consistent pipeline of deals with solid involvement in high-value transactions, working on behalf of major corporates, investors, and financial institutions on business-critical and strategic M&A. The firm prioritizes a collaborative, multi-disciplinary approach, allowing it to act on a range of major cross-border transactions, as well as deals in key sectors including healthcare, technology, and automotives. Notable clients include American Express, GoDaddy, and Johnson & Johnson, and the team continued to expand its client base in 2020, with highly-rated partner William Regner and the vastly experienced Jeffrey Rosen advising Match Group on its complex $30bn separation from IAC. Another major deal within the tech space was Interexion's $8.4bn merger with Digital Realty, a standout mandate for Sue Meng. Elsewhere, Jennifer Chu has remained active in healthcare deals for public and private companies, and Paul Bird is noted for his prolific transactional practice in corporate M&A and private deals, particularly in the media and industrials sectors. Alexander Cochran and Uri Herzberg are also recommended on the more junior end of the partnership. The team is led by Michael Diz and Kevin Rinker, both recognized as key players within the M&A space, and regularly acting for major clients such as Amazon and GoGo Inc, respectively. All named lawyers are based in New York.

Practice head(s):

Michael Diz; Kevin Rinker

Other key lawyers:

Jeffrey Rosen; Paul Bird; William Regner; Jennifer Chu; Sue Meng; Uri Herzberg; Alexander Cochran

Key clients

Amazon

American Express

AVEVA Group

Clayton, Dubilier & Rice

GoDaddy

Gogo, Inc.

InterXion

Johnson & Johnson

Liberty Broadband

Match Group

The Carlyle Group

Steven Cohen and Cohen Private Ventures

Toyota Motor Corporation

Tribune Media Company

Verizon

Work highlights

  • Advised on the intricate separation of Match Group, the $30bn dating company, from IAC.
  • Advised Liberty Broadband on the $10.59bn acquisition of GCI Liberty.
  • Advised Verizon Communications Inc on its $6.25bn acquisition of Tracfone.

Shearman & Sterling LLP

Shearman & Sterling LLP's M&A offering covers high-value, sector-critical deals in a variety of industries, with recent standout highlights including the representation of Raytheon in its combination with United Technologies, and the representation of CPPIB in its acquisition of Pattern Energy Group. Elsewhere, the team has represented blue-chip clients in heavy industrials, energy, and technology, including a notable new mandate from VMWare.  The team was bolstered in February 2020 by three arrivals from Jones DayAlain DermarkarRobert Cardone and Scott Cohen. The team is overseen by global managing partner George Casey, who has extensive experience in domestic and cross-border M&A on behalf of a number of major multinational clients, and Scott Petepiece, who specializes in public company M&A and wider corporate advice, including shareholder issues and contested transactions, and has maintained his active practice despite a challenging transactional environment. Clare O’Brien is noted for her outstanding record in industry-defining deals, including leading on the Raytheon-United Technologies merger, and Rory O’Halloran is also recommended for his capabilities in cross-border deals. Richard Fischetti left the firm for an in-house position.

Practice head(s):

George Casey; Scott Petepiece

Other key lawyers:

Clare O’Brien; Rory O’Halloran; Alain Demarkar; Robert Cardone; Scott Cohen

Testimonials

‘The team is exceptional in handling of multi-billion dollar public company acquisitions. They have all the talent necessary to cover all aspects of the deal: employment law, pensions, financing, diligence, etc. Able to communicate complicated concepts to business management.’

‘George Casey is brilliant, calm and decisive. Very pragmatic and focused on best outcome for client. Extremely responsive. A true gentleman even when negotiations get tough.’

‘George Casey is one of the most prominent lawyers I have worked with, amazing M&A lawyer.’

Key clients

VMWare

Celanese

Raytheon

The Dow Chemical Company

CVS Health Corp

ViacomCBS

TELUS International

SAP SE

Intercontinental Exchage

Bunge

Liberty Global Plc

LyondellBasell Industries NV

Novartis AG

General Electric Company

Salesforce

Exxon Mobil Corporation

Work highlights

  • Advised Raytheon Company on its combination with United Technologies in a merger of equals transaction.
  • Advised Canada Pension Plan Investment Board on the $6.1bn acquisition of Pattern Energy Group.
  • Advised Intercontinental Exchange on its $11bn acquisition of all of the equity interests of Ellie Mae.

Weil, Gotshal & Manges LLP

Weil, Gotshal & Manges LLP has a prolific M&A offering, and has continued to record solid deal numbers, combining a regular flow of mandates from top clients including Eli Lilly, Maxim, and Magellan Health, with strong capabilities in handling major bet-the-company deals, generally. Corporate department chair Michael Aiello maintained his profile in the market as lead counsel to long-standing client Willis Tower Watson in relation to its pending merger with Aon, a major development in the risk advisory sector valued at $80bn. Elsewhere, the team has been active in the technology, fintech, and healthcare sectors, and also regularly works on restructuring-driven transactions and distressed M&A. Gavin Westerman and Mariel Cruz are both active in the firm's restructuring department and the corporate team. Senior partner Michael Lubowitz is another key team member, who represents clients in a variety of transactions, with a notable expertise in bulge-bracket work on behalf of major investment banks. Frederick Green is a respected senior figure, and has a broad practice across business combinations, securities transactions, and wider corporate advisory work, including activist investor issues and commercial matters. Matthew Gilroy is a highly rated younger partner with a strong deal sheet, having recently led on deals for Eli Lilly and Churchill Capital Corp. Jackie Cohen is also noted as an up-and-comer, with a diverse practice encompassing work for acquirers, targets, investors, and special committees on large-scale mergers, exits, and SPAC investments. All named lawyers are in New York.

Practice head(s):

Michael Aiello; Michael Lubowitz

Other key lawyers:

Gavin Westerman; Mariel Cruz; Frederick Green; Matthew Gilroy; Jackie Cohen

Testimonials

‘Diverse, talented group of practitioners. Representation of talented, best in class female partners. Collegiate teams that work seamlessly to drive outcomes and provide guidance and support in complex transactions. Excellent experience in advising and assisting to resolve interloper and activist engagement in complex transactions.’

Key clients

AK Steel Corporation

Apergy Corporation (n/k/a ChampionX Corporation)

Benefytt Technologies, Inc.

Brookfield Asset Management Inc.

Black Knight, Inc.

Campbell Soup Company

ChargePoint, Inc.

Churchill Capital Corp III

Discovery Communications, Inc.

Eli Lilly and Company

Emerald Performance Materials LLC

Fidelity National Financial, Inc.

Fiera Infrastructure Inc.

Fortress Value Acquisition Corp.

Front Yard Residential Corporation

Healthcare Merger Corp.

Legg Mason, Inc.

Magellan Health, Inc.

Maxim Integrated Products, Inc.

MCS

Quest Diagnostics Inc.

RealPage, Inc.

Sanofi S.A.

SiriusXM

Principal shareholders and directors of Skillz Inc.

SoftBank Group Corp.

Total S.A.

Willis Towers Watson PLC

Work highlights

  • Advising Willis Towers Watson PLC on its pending $80bn combination with Aon PLC.
  • Advising Maxim Integrated Products, Inc. on its $21bn sale to Analog Devices, Inc., in a transaction that values the combined enterprise at over $68bn.
  • Advising ChargePoint, Inc. on its combination with Switchback Energy Acquisition Corporation, a SPAC sponsored by NGP Switchback, LLC, in a transaction that implies a ChargePoint enterprise value of $2.4bn.

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP continued its expansion into the US M&A space, opening its Silicon Valley office in July 2020 and adding notable senior expertise in the form of tech and life sciences specialist John Fisher, who arrived from Sidley Austin LLP as head of the firm's M&A teams in those industries. A standout highlight for the team was its representation of AstraZeneca in its blockbuster $39bn acquisition of Alexion, a deal led by practice head Ethan Klingsberg, who has a top-shelf reputation in the US M&A market. The practice has been active in tech and healthcare transactions, as well as complex SPAC and de-SPAC deals. It has also been kept busy on the private equity front, including a number of combined portfolio merger and take-public deals. Other key players in the team include Paul Tiger, an active dealmaker and corporate adviser who has led a number of deals for Stanley Black & Decker; Sebastian Fain, a versatile transactional attorney who represented Universal Music Group in the $3.4bn sale of 10% of its equity to Tencent; and Paul Humphreys, who is noted for his capabilities in cross-border M&A, particularly involving Asian markets. The practice was further bolstered by the addition of life sciences specialist Adam Golden from Hogan Lovells US LLP in May 2021. Named lawyers are based in New York unless stated otherwise.

Practice head(s):

Ethan Klingsberg

Other key lawyers:

Paul Tiger; Sebastian Fain; Paul Humphreys

Testimonials

‘I’ve known and worked closely with John Fisher for years. He brings superb analytical and organizational skills along with an easy, constructive manner that he couples with a willingness to take very firm positions when he needs to. Truly an iron fist in a velvet glove.’

‘John Fisher is an excellent M&A practitioner with strong negotiating, drafting, and deal management skills. He works super hard for his clients and he provides practical advice based on experience and good judgment. He is a real asset to have on your side when you need to get a deal done.’

‘We appreciate the team for its business-oriented advice and particularly like their balancing of where and when to take the initiative to get things over the hump. They have a wealth of experience on public companies and SPAC business combinations.’

‘Paul Tiger never loses his cool and knows what matters and when to put his foot down to resolve commercially sensitive issues.’

Key clients

Google

Volkswagen

Americold

Hewlett Packard Enterprise

Universal Music Group

CarLotz, Inc

Clever Leaves

Stagwell Media

Special Committee of Emerald Holdings

Stanley Black & Decker

KLX Energy Services

One Equity Partners

Royal Caribbean

Goldfinch Partners

New Mountain Capital

PepsiCo

Mast-Jagermeister

London Stock Exchange

Alpek

Work highlights

  • Advising Google on its $4.5bn acquisition of equity in India’s Reliance Jio Platforms.
  • Advised Hewlett Packard Enterprise on its acquisition of technology company, Silver Peak for $925m.
  • Advising Volkswagen as the controlling stockholder of QuantumScape Corporation in QuantumScape’s announced business combination with SPAC Kensington Capital Acquisition Corp. The deal values QuantumScape at $3.3bn.

Fried, Frank, Harris, Shriver & Jacobson LLP

Fried, Frank, Harris, Shriver & Jacobson LLP stands out for its client-focused approach, working with a number of key relationship clients on a steady flow of high-value deals, with notable expertise in the healthcare, technology, and life sciences spaces, among others. The practice is complemented by the firm's strong private equity and capital markets teams, allowing it to handle all aspects of complex transactions. The team is led by the vastly experienced Robert Schwenkel, a go-to deal adviser for the likes of Goldman Sachs and a highly respected figure within the M&A sector. He is supported by Steven Epstein, who has a diverse practice, handling transactions and corporate issues for private and public companies, investment banking firms, and financial sponsors; and Philip Richter, who primarily advises public companies, and also works with financial advisers on issues such as fairness options. Matthew Soran is noted for his capabilities in investment-related matters, including carve-outs, joint ventures, and recapitalizations, as well as corporate governance issues. All named lawyers are in New York.

Practice head(s):

Robert Schwenkel; Steven Epstein; Philip Richter

Other key lawyers:

Matthew Soran

Key clients

Aleris Corporation

1-800 Contacts

CVS Health

The Menarini Group

Leidos, Inc.

Sinclair Broadcast Group

SPX Flow

Orix Corporation

Humana, Inc.

Catalent, Inc.

Regional News Network

Simon Properties Group

Permira Advisers

Onex Corporation

AEA Investors

Goldman Sachs & Co.

Ascential plc

Informatica

Work highlights

  • Advised Aleris on its $2.8bn sale to Novelis.
  • Advised Leidos Inc. on its $1bn acquisition of L3Harris’ Security, Detection, and Automation business.
  • Advised CVS Health on its sale of Coventry Workers’ Comp Services to Mitchell | Genex and its acquisition of the retail and specialty pharmacy business of Schnuck Markets.

Gibson, Dunn & Crutcher LLP

Gibson, Dunn & Crutcher LLP expanded its national M&A team during 2020, recruiting a number of attorneys from firms including Kirkland & Ellis LLPJones Day, and Paul Hastings LLP. Across its New York, Washington DC, and California offices, the firm acts for a variety of major clients, having advised the likes of Berkshire Hathaway Energy, VMWare, and Pepsi on recent large-scale M&A. The team is able to handle straight acquisitions, disposals, investments, and complex corporate issues such as hostile takeover defense and activist shareholder issues. A key name in the team is Barbara Becker, who advises on a variety of domestic and cross-border transactions, with strong capabilities in consumer goods, retail, technology, and industrial sector deals. In Texas, Jeffrey Chapman is a standout dealmaker who works with a number of public and private companies, with notable strength in the energy market, while Washington DC's Stephen Glover is noted for his work with major clients such as Marriott, Ford, and Eaton Corporation. New York's Eduardo Gallardo is recommended for transactional work as well as for corporate governance advice.

Practice head(s):

Eduardo Gallardo; Robert Little; Saee Muzumdar

Other key lawyers:

Barbara Becker; Jeffrey Chapman; Stephen Glover

Key clients

VMWare

Berkshire Hathaway Energy

Pioneer Natural Resources

Merck

Subsidiary of Dajia

Stone Canyon

Eaton

Rhône / WeWorks

Pepsi

Continental Building Projects

Morgan Stanley and various Investment Banks

Work highlights

  • Advising the Special Committee of the Board of Directors VMware, a cloudcomputing business and a Dell subsidiary, in Dell Technologies’ potential spin-off of its 81% ownership of VMware valued at nearly $50bn.
  • Advising Berkshire Hathaway Energy, a subsidiary of Warren Buffett’s Berkshire Hathaway Inc, on its $9.7bn acquisition of Dominion Energy’s natural gas transmission and storage business.
  • Advised Pioneer Natural Resources on its $7.6bn acquisition of Parsley Energy, Inc.

Jones Day

Jones Day has a geographically broad M&A practice, and is active in a variety of key market sectors, most notably technology, healthcare, and biosciences. The team represents major international clients including Sumitomo, NVIDIA, and Stars Group in strategic acquisitions, sales, and joint ventures. NVIDIA's $6.9bn acquisition of Mellanox was a standout representation, reflecting the firm's strengths in the tech sector and its wider multi-jurisdictional capabilities. New York-based James Dougherty and Randi Lesnick head up the department, and maintain active public M&A practices on behalf of major clients. Benjamin Stulberg in Cleveland is active in public and private M&A expertise and also advises on broader corporate governance issues, while Irvine-based Jonn Beeson is noted for his active tech and life-sciences practice, and recently led on Sumitomo's $3bn acquisition of biopharma companies and investment in Roivant Sciences. Also of note, January 2021 saw the promotions to partner of Minneapolis-based Dotun Obadina, who regularly works with key companies in the region, and New York's Justin Macke, who has worked on a number of major deals, and also has notable activist defense expertise.

Practice head(s):

James Dougherty; Randi Lesnick

Other key lawyers:

Benjamin Stulberg; James Benson; Justin Macke; Dotun Obadina

Key clients

Parker Hannifin

Cleveland-Cliffs

Sumitomo Dainippon Pharma

HD Supply

Vantage Data Centers

The Stars Group

Engie

Avient (formerly PolyOne)

Signature Aviation (formerly BBA)

NVIDIA

Work highlights

  • Advised Sumitomo Dainippon Pharma on the acquisition of late stage biopharma companies, options to purchase 25 clinical programs and investment in Roivant Sciences, in a deal valued at $3bn.
  • Advised The Stars Group on its combination with Flutter Entertainment in a transaction with an enterprise value of $11bn.
  • Advising HD Supply, Inc on its $8.8bn acquisition by The Home Depot, Inc.

Ropes & Gray LLP

Ropes & Gray LLP advises a diverse range of corporate clients on big-ticket M&A, strategic and balance-sheet transactions, and investments, supported by strong private equity, capital markets, tax, and acquisition finance teams. The corporate group has a number of sector strengths, and is particularly active in the life sciences, tech, and pharma spaces, with notable clients including Gilead and Novavax. Also of note are the firm's cross-border capabilities—the US team works in close collaboration with the firm's global offices to handle complex multi-jurisdictional transactions, a recent example of which was its role advising PJT partners as financial advisor to Caesar's in its $17.3bn acquisition of Eldorado Resorts. The team is jointly led by Boston's Christopher Comeau, who advises public companies and financial investors on public and private M&A and minority investments, mainly in the life sciences and medtech sectors; Jane Goldstein, who divides her time between New York and Boston and has a strong record in the retail and consumer products industries; and global M&A head Paul Scrivano, who handles a broad range of US and cross-border transactions in the tech, life sciences, and healthcare sectors from the San Francisco office.

Practice head(s):

Jane Goldstein; Christopher Comeau; Paul Scrivano

Testimonials

‘The M&A practice at Ropes & Gray is sophisticated, staffed with diverse and brilliant attorneys, and agile. The team is able to handle wholly novel and multi-faceted deals with efficiently and shows great teamwork in pulling in various subject matter experts.’

‘The individuals I work with, including Mike Beauvais, are leaders in their field. They are always available and ready to roll up their sleeves, come up with innovative solutions and are team players.’

Key clients

Advent Technologies Inc.

Akcea Therapeutics Inc., Independent Committee of the Board

Allergan plc

Asklepios BioPharmaceutical, Inc.

Dunkin’ Brands Group

Evercore Group LLC

Eversource Energy

Gilead Sciences, Inc.

Medtronic, Inc.

Novavax Inc.

PJT Partners

Qorvo Inc.

The TJX Companies, Inc.

Town Fair Tire Centers, Inc.

Veeam Software Holding Limited

Verastem Inc.

Waters Corporation

Wright Medical Group NV

Work highlights

  • Represented Dunkin’ Brands Group in its $11.3bn sale to Inspired Brands, a Roark Capital portfolio company.
  • Represented Gilead Sciences, Inc. in the acquisition of both Pionyr Immunotherapeutics Inc. and Tizona Therapeutics, Inc. for a combined value of approximately $3.3bn.
  • Represented Wright Medical Group NV in its $5.4bn sale to Stryker Corporation.

White & Case LLP

White & Case LLP leverages its broad US platform to handle an impressive array of M&A across a variety of sectors and jurisdictions, working in close collaboration with its global offices on complex cross-border deals. The firm is particularly strong in the tech, pharma, infrastructure, and energy sectors, and  combines a strong deal count with involvement in blockbuster transactions. Of particular note in the review period, Gregory Pryor acted for Saudi Aramco in its high-profile acquisition of SBIC. Another notable deal was new client Schneider Electric's $2.1bn acquisition of Larsen & Toubro Electrical & Automation Division, led by standout new arrival Germaine Gurr, who has bolstered the firm's expertise and client base since joining from Holland & Knight LLP in June 2020. Another area of growth for the team has been SPAC-related deals, where it acts in concert with the firm's capital markets and private equity teams. The team is jointly led by John Reiss, a specialist in complex, multi-jurisdictional transactions on behalf of key clients such as Anthem and MobileMini, alongside Chang-Do Gong, who oversees Americas-based M&A and works across public and private deals. Michael Deyong enjoyed an active 2020, working for the likes of Flying Eagle Acquisition Corp, while Daniel Dufner was busy in the healthcare space. In Silicon Valley, Tali Sealman handled a number of tech and SPAC transactions, including dMY Technology Group II's $1.5bn combination with Genius Sports Group. Named lawyers are in New York unless stated otherwise.

Practice head(s):

John Reiss; Chang-Do Gong

Other key lawyers:

Michael Deyong; Germaine Gurr; Gregory Pryor; Tali Sealman; Dan Dufner

Key clients

Saudi Aramco

Schneider Electric

The Hertz Corporation

Anthem, Inc

Flying Eagle Acquisition Corp

Mobile Mini

Sempra Energy

Diamond S Shipping

dMY Technology Group, Inc.

dMY Technology Group, Inc. II (

Graf Industrial

Sony Corporation

Panasonic Corporation

Macquarie Infrastructure Corporation

Calpine Corporation

DIC Corporation

Newmont Mining Corporation

Zimmer Biomet

Cellular Biomedicine Group

Lantheus Holdings, Inc.

EchoStar Corporation

LifePoint Health, Inc.

Masdar

Pernod Ricard

Linx S.A.

Brookfield Infrastructure Partners

IFM Investors

Roark Capital and Inspire Brands

Nomura Securities International, Inc.

Work highlights

  • Represented Saudi Aramco in its $69.1bn acquisition of a 70% stake in Saudi Basic Industries Corporation.
  • Advised Schneider Electric on the $2.1bn acquisition of Larsen & Toubro Electrical & Automation Division.
  • Representing Flying Eagle Acquisition Corp in its $4.3bn business combination with Skillz Inc.

Willkie Farr & Gallagher LLP

Willkie Farr & Gallagher LLP stands out for its strong sector focus and close collaboration with specialist industry practices within the wider firm, most notably its restructuring, asset management, and insurance groups. Indeed, highlights from the review period have included distressed M&A and work with asset managers and insurance companies on major acquisitions, sales, and joint ventures. Practice co-head Steven Seidman represented Centerview Partners LLC and PJT Partners LP as financial advisors to Mylan in its merger with UpJohn. Up-and-coming partner Laura Delanoy, also played a key role in this deal. Practice co-head David Boston was also active in the asset management space, advising Franklin Templeton on the $4.5bn purchase of Legg Mason. Standout work in the insurance industry included advice on Allstate's $4bn purchase of National General Holdings.

Practice head(s):

David Boston; Steven Seidman

Other key lawyers:

Laura Delanoy

Key clients

AdaptHealth Corp.

Take-Two Interactive Software

Franklin Templeton

Hudson’s Bay Company

Conga

Kony Inc.

Centerview Partners LLC

PJT Partners LP

ForgeLight LLC

KKR & Co. Inc., Fidelity National Financial, Inc., American International Group, Zurich Insurance Group

Insight Partners

Colony Capital

Aquiline Capital Partners

FFL Partners

Genstar Capital

Personal Capital

Virtus Partners Holdings LLC

Atlas Holdings LLC

Dyal Capital Partners

BofA Securities

Allied World Assurance Company Holdings, Ltd.

Work highlights

  • Represented Centerview Partners LLC and PJT Partners LP as financial advisors to Mylan in its merger with UpJohn.
  • Represented Franklin Templeton in its definitive agreement to acquire Legg Mason, Inc, for $50.00 per share of common stock in an all-cash $4.5bn transaction.
  • Represented Allstate in connection with its pending approximately $4bn acquisition of National General Holdings.

Baker Botts L.L.P.

Baker Botts L.L.P. has enjoyed a productive year across its focus areas of energy, technology, media, and telecoms. The firm's Texas-based offices have continued to close a number of midstream and upstream oil and gas transactions despite a difficult climate, while in New York the firm has expanded both its bench and media-sector client base, with notable new clients including NASCAR and Madison Square Garden. New York's Mike Bengtson leads the overall corporate team and is a key energy sector player, supported by Austin-based Mollie Duckworth, who acts for a range of public and private companies. In Dallas, Samantha Crispin has won praise for her work with Liberty Media, as well as her wider work across the TMT space. Crispin now acts as relationship partner for Liberty following the departure of Renee Wilm to an in-house role with the client. New York's Jonathan Gordon has a strong practice, acting for a range of international clients including NASCAR and Liberty Latin America. Houston-based Gene Oshman is an experienced corporate counsel with broad expertise across M&A, takeover defense, and public company matters, and is particularly active in the oil and gas space. Michael Torosian joined the San Francisco office from Pillsbury Winthrop Shaw Pittman, LLP in November 2019; Nicole Perez joined the New York team from Greenberg Traurig, LLP in March 2020; and Avner Bengera joined from Hughes Hubbard & Reed LLP in April 2021.

Practice head(s):

Mike Bengtson; Mollie Duckworth

Other key lawyers:

Gene Oshman; Jonathan Gordon; Michael Torosian; Nicole Perez; Samantha Crispin; Avner Bengera

Key clients

Liberty Media Corporation

Bristow Group Inc.

El Paso Electric Company

Chesapeake Energy Corporation

GCI Liberty, Inc.

Nascar Holdings, Llc

Southern Company

Carrizo Oil & Gas, Inc.

Mcdermott International, Inc.

Madison Square Garden Entertainment Corp.

Shell Midstream Partners, Lp

Centerpoint Energy, Inc.

Tudor, Pickering, Holt & Co. Securities, Inc.

Tallgrass Energy, Lp

NRG Energy, Inc.

Enlink Midstream

IFM Investors

Hines

BP

Bhp Billiton

Work highlights

  • Advising GCI Liberty, Inc. on the $8.7bn pending acquisition by Liberty Broadband.
  • Advised NASCAR on its acquisition of International Speedway Corporation for approximately $2bn.
  • Represented Carrizo Oil & Gas in its $2.7bn merger with Callon Petroleum Company.

Dechert LLP

Dechert LLP stands out for its focus on cross-border transactions, with the firm involved in large-scale international deals for clients including US Ecology Inc, Covis Pharma, and B&G Foods. The M&A team has a strong record in numerous focus industries, including life sciences, healthcare, financial services, and industrials. It regularly works with private equity investors and their portfolio companies on combinations, spin-offs, and disposals. Mark Thierfelder leads the team from New York, and is recognized as an accomplished dealmaker in public and private M&A, securities transactions, and private equity deals. He is leading the firm’s standout representation of GIC in its sale of Refinitiv to London Stock Exchange Group for an estimated $27bn. Also in New York, dual German and US-qualified Markus Bolsinger works on complex transactions and has deep cross-border expertise. In Pennsylvania, Geraldine Sinatra has a very strong record in private equity-related deals, where she is particularly active for portfolio companies; and Eric Siegel has a broad practice encompassing strategic acquisitions and sales, joint ventures, and cross-border M&A. New York’s Jonathan Kim is an up-and-coming younger partner who has been involved in several of the firm’s largest transactions, including the GIC-Refinitiv deal.

Practice head(s):

Mark Thierfelder

Other key lawyers:

Markus Bolsinger; Geraldine Sinatra; Eric S. Siegel; Jonathan Kim

Key clients

B&G Foods

Barings

Blackstone Tactical Opportunities

Cerberus Capital Management

Court Square Capital Partners

GIC

Graham Partners

Johnson & Johnson

Medbio

MiddleGround Management

Morgan Stanley Capital Partners

One Equity Partners

Quest Diagnostics

Ridgemont Equity Partners

StoneCastle Asset Management

Select Medical Corporation

UDG Healthcare

Work highlights

  • Representing GIC in connection with the sale of Refinitiv to the London Stock Exchange Group for an enterprise value of $27bn.
  • Advised FSK and FSKR on their combination, creating an entity valued at around $14.9bn.
  • Representing Ahead, Inc, a portfolio company of Court Square Capital Partners, in connection with its sale to Centerbridge Partners.

Hogan Lovells US LLP

With continued mandates from key clients including Airbus, Arm Limited, Ford, and Lockheed Martin, Hogan Lovells US LLP has enjoyed a strong year in a difficult transactional environment, with a broad range of sector expertise and the firm’s global platform enabling it to handle large-scale deals for marquee clients. The US team is geographically diverse, with leaders across numerous key commercial centers. Keith Flaum is a key figure in the Silicon Valley team, handling technology and life sciences M&A as well as co-ordinating work across the Americas. Also in Silicon Valley, Richard Climan has an excellent record in technology and e-commerce work, advising major clients such as Walmart and Sinopsys; he is a noted thought leader for tech and innovation-focused M&A. William Curtin, heads the global M&A team from Washington DC and New York, and has been involved in transactions for Airbus, Arm, and Daimler, among others. Elizabeth Donley is another key figure in Washington DC; she focuses on US and cross-border transactions for clients including Lockheed Martin. North Virginia-based senior associate Ashlee Sawyer Gilson is taking an increasingly prominent role in aerospace, defense, and automotive sector deals, and recently represented Ford in the $2.6bn investment by Volkswagen into its autonomous vehicle platform.

Practice head(s):

William Curtin; Elizabeth Donley; Keith Flaum

Other key lawyers:

Richard Climan; Ashlee Sawyer Gilson

Testimonials

‘Hogan Lovells has an outstanding M&A team across the board, and they definitely are the preeminent tech-M&A law firm in the country. There is no better team for this type of work.’

Key clients

Applied Materials

Arm Limited

Dell Technologies

Facebook

Ford Motor Company

Kingdom Holding Company

Intel Corporation

Marvell Technology Group

UnitedHealth Group Incorporated

Walmart

Work highlights

  • Advising Arm Limited (Arm), the UK-headquartered multinational semiconductor business of Japan-based SoftBank Group and the SoftBank Vision Fund, on all aspects of the $40bn sale of Arm to NVIDIA.
  • Advising Marvell Technology Group, a publicly traded leader in infrastructure semiconductor solutions, on its pending acquisition of Inphi Corp., a publicly traded high-speed data movement platform, valued at approximately $9bn.
  • Advising Facebook on its $5.7bn investment for a 9.99% stake in Jio Platforms, the biggest telecom operator in India and a subsidiary of multinational conglomerate Reliance Industries.

Milbank

Milbank focuses on large-scale, market-critical deals for a client base that includes Fortune 500 corporates, a range of investment funds, financial institutions, and international companies such as Canadian Solar. The focused, experienced team includes practice chair John Franchini, who has a strong record in energy sector work and public and private M&A, as well as international mandates, with recent highlights including Canadian Solar’s sale of three Mexican solar photovoltaic projects. Dean Sattler leads on cross-border deals, and has a particular focus on infrastructure investments and transactions; while special counsel Iliana Ongun combines broad M&A expertise with strong corporate governance capabilities, including takeover defense. The vastly experienced Neil Whoriskey joined the firm from Cleary Gottlieb Steen & Hamilton in September 2020, bringing significant experience in major bet-the-company deals for blue-chip clients. Scott Golenbock continues to be a leading name for negotiated and hostile acquisitions, spin-offs, and divestitures. Francisco Nuñez made partner in January 2020, reflecting his strong work in the Latin American market. David Zeitner and Alexander Kaye retired from the partnership, taking consultancy roles within the firm. All named lawyers are in New York.

Practice head(s):

John Franchini

Other key lawyers:

Dean Sattler; Iliana Ongun; Neil Whoriskey; Scott Golenbock; Francisco Nunez; Aaron Stine

Testimonials

‘John Franchini and Aaron Stine have worked with us on a number of complex, cross-border transactions where they have provided commercial and pragmatic advice, but at the same time ensured that any material risks are appropriately mitigated. They are incredibly responsive and are a pleasure to work with.’

‘Milbank lawyers are thoughtful and proactive in identifying issues and do an excellent job with complex structures and investments. They are always available and incredibly solutions oriented instead of raising issues and barriers without solving them.’

‘John Franchini and Aaron Stine have been excellent to work with. They are always available and regardless of which side they are representing take reasonable points of view and approach each assignment with the goal of bridging gaps instead of creating issues.’

‘Breadth of specialist expertise in renewable energy is unmatched and market leading; Responsiveness is amazing; Work product is outstanding; Their overall market knowledge is also incredibly valuable.’

‘The team is very strong technically and provides a very high standard of service. They are always available and able to add value in negotiations. Knows the market and able to provide recommendations on how best to resolve issues. Very cohesive team that worked seamlessly across numerous disciplines to deliver a holistic solution.’

‘John Franchini is a stand out partner. Very high praise for his negotiating skills and solutions-driven approach to resolving issues. Able to distill complex issues into simple concepts.’

Key clients

Abu Dhabi Investment Authority

Actis

Alberta Investment Management Corporate

Apollo Aviation Group

Apollo Global Management

Blackrock

Carlyle

Canadian Solar Inc.

Era Group Inc.

GIC Special Investment Pte. Ltd

JP Morgan Infrastructure Investment Fund

M&G Investments

MidCap Financial

Mitsui & Co., Ltd.

Molina Healthcare

Ontario Teachers’ Pension Plan

Patricia Industries

PSP Investments

QIC Global Infrastructure

Siguler Guff

Strategic Value Partners LLC

The Canada Pension Plan Investment Board

Turning Point Brands, Inc.

United States Steel Corporation

Morrison & Foerster LLP

Morrison & Foerster LLP has continued its strong record in technology M&A, advising on high-profile transactions within the industry. Of late, the team worked with Softbank and Sprint on their $59bn merger with T-Mobile, and also represented Softbank and its Vision Fund in the $40bn sale of Arm to NVIDIA. This reflects the firm's capabilities in complex cross-border transactions across a variety of tech and tech-related industries. The West Coast transactional team was bolstered by the arrivals of prolific M&A counsels Omar Pringle and Mitchell Presser from Freshfields Bruckhaus Deringer  in April 2020; the pair advised Pivotal Investment Corporation II on its $1bn merger with XL Fleet not long after their recruitment. Presser has also become global co-chair of the corporate team. New York's Spencer Klein and San Francisco-based Eric McCrath also lead the team, and are noted for their representation of major tech clients and expertise in complex merger proceedings, including takeover defense and contested deals. Randy Bullard divides time between New York and Miami, and is a co-chair of the firm's Latin America desk, specializing in cross-border deals in the region.

Practice head(s):

Spencer Klein; Eric McCrath; Mitchell Presser

Other key lawyers:

Omar Pringle; Randy Bullard

Key clients

Autodesk

Axalta Coating Systems

BlackBerry

ON Semiconductor

Santen Pharma

SoftBank

Unity Technologies

Visa

VMware

Vonage

Work highlights

  • Advised Sprint Corp. and SoftBank Group Corp., the controlling shareholder of Sprint, on the landmark merger of Sprint and T-Mobile US Inc. The deal is valued at $59bn.
  • Advising SoftBank Group Corp. and SoftBank Vision Fund on the $40bn sale of UK-headquartered multinational semiconductor and software design company Arm Limited to US chip company NVIDIA.
  • Advised Pivotal Investment Corporation II on its merger with XL Fleet, a leader in vehicle electrification solutions for commercial and municipal fleets.

Baker McKenzie LLP

Baker McKenzie LLP has continued to expand its US presence across the West and East coasts with a number of lateral hires. The Palo Alto and San Francisco offices (led by Leif King) have welcomed transactional partners Lisa FontenotDerek LiuThomas AsmarMarcela Robledo, and Lawrence Lee in a significant expansion, while the Miami office recently recruited John Murphy from DLA Piper LLP (US). The firm has secured major domestic and international mandates, representing AbbVie in elements of its $63bn acquisition of Allergan, including notable restructuring and tax-related advice. It also advised Bayer on its purchase of North Carolina-based biotech firm AskBio. The team has also worked prolifically in areas including energy, financial services, and telecoms, as well as expanding its noted carve-out and divestitures practices. The overall team is led by Alan Zoccolillo in New York, with Chicago's Michael DeFranco and Olivia Tyrell noted as key members of the transactional team.

Practice head(s):

Alan Zoccolillo

Other key lawyers:

Leif King; Lisa Fontenot; Derek Liu; Thomas Asmar; Marcela Robledo; Lawrence Lee; John Murphy; Michael DeFranco; Olivia Tyrell

Testimonials

‘Swift response to all inquiries. Reliable advice on relevant topics.’

Key clients

AbbVie, Inc.

Astellas Pharma US, Inc.

Bayer AG

Brookfield Infrastructure Group Colombia S.A.S.

China Yangtze Power Company

Dun & Bradstreet

Embracer Group AB

Nielsen Holdings plc

SAP

MiddleGround Capital

Galapagos

Takeda Pharmaceuticals International GmbH

H. Lundbeck A/S

Archer Daniel Midland

Evonik Industries AG

Safran SA

Mondelēz International

McDonald’s

Spectrum Brands, Inc.

Sika

Advent Internatinoal

ServiceNow, Inc.

Calera Capital Advisers, L.P.

Work highlights

  • Advised AbbVie on the $63bn acquisition of the Botox maker Allergan.
  • Advised Bayer AG on its acquisition of North Carolina-based biotech, Asklepios BioPharmacetucial Inc., or AskBio, in a transaction worth up to $4bn.
  • Advised China Yangtze Power Company on the $3.59bn purchase of Sempra Energy’s Peruvian businesses, including its 83.6% stake in Luz del Sur S.A.A.

Mayer Brown

Mayer Brown has a broad and geographically diverse M&A offering, representing global companies and financial institutions in deals across its US offices. The firm has represented Nestlé, Midstream Partners, and Parker Hannifin in notable transactions during 2020, including Nestlé’s $4bn sale of its ice cream business to Froneri International, a major success for New York-based corporate and securities head David Carpenter. Chicago’s William Kucera and Jodi Simala lead the team, and both are recognized for their significant international expertise in a wide variety of acquisitions, sales, joint ventures, and tender offers. Kucera heads the firm’s M&A team for the Americas, while Simpala is global head of M&A. New York’s Joseph Castelluccio is noted for his expertise in financial services transactions and work for clients based in Japan.

Practice head(s):

William Kucera; Jodi Simala

Other key lawyers:

David Carpenter; Joseph Castelluccio

Testimonials

‘Great responsiveness and follow-up to support a big transaction from due diligence, to signing, closing and post-closing restructurings.’

Key clients

ACE Limited

Ally Financial Inc.

Assured Guaranty Ltd.

Caesars Entertainment Corporation

Caterpillar Inc.

The Dow Chemical Company

Envestnet, Inc.

First State Investments (Us) Llc

Heitman Capital

Nestlé S.A.

Northern Trust

Prologis, Inc.

TC Energy Corporation

Tenneco Inc.

Walton Street Capital, L.L.C.

Wolters Kluwer United States Inc.

Yum! Brands

3i Group plc

Morgan, Lewis & Bockius LLP

Morgan, Lewis & Bockius LLP handles a wide range of M&A, with sector strengths including life sciences, energy, technology, and media. The firm has remained active in 2020, working in collaboration with its international offices on a variety of international transactions, as well as securing notable mandates domestically, with NASDAQ an example of standout new client. Philadelphia’s Richard Aldridge leads the team, and has a broad practice encompassing numerous industries and transaction types, such as public and private M&A, joint ventures, and cross-border deals. He is supported by New York-based Sheryl Orr, who also has a diverse practice, with notable expertise in the financial services and life sciences industries. Boston’s Laurie Cerveny handles M&A and securities transactions for a range of domestic and international clients.

Practice head(s):

Richard Aldridg; Sheryl Orr

Other key lawyers:

Laurie Cerveny; Russell Franklin

Testimonials

‘Morgan Lewis has maintained a strong M&A practice in locations outside of NY — including Philadelphia. The firm has the practice depth to compete with top tier M&A firms but staff and works in a way that is very efficient and very client-oriented. The firm is particularly notable for its culture of lean staffing vs. overstaffing. The firm attracts lawyers (at all levels) who are independent and able to work and think autonomously.’

‘The Morgan Lewis team has proved adept at engaging at a commercial and legal level to find creative solutions. They’ve demonstrated extensive patience and perseverance in highly complex situations and we really appreciated their hard work.’

‘We deeply appreciated Russell Franklin, who consistently provided commercial and particularly thoughtful advice that was tailored to our needs and context, impressively managed to juggle a million balls in the air at once on numerous occasions, and displayed calm collection in difficult situations.’

Key clients

Apollo Global Management

Pearson

Oracle

Aramark

Far Point Acquisition

Iron Mountain

Transcontinental Inc.

HollyFrontier Corp.

Perrigo

Tabula Rasa Healthcare

Ares Capital

Platinum Equity

Sun Capital Partners

The New York Times

Fanatics

A.P. Moeller-Maersk

Rue Gilt Groupe

Merck

Sandvik

NASDAQ

Proskauer Rose LLP

Proskauer Rose LLP stands out for its range of sector strengths, with particular expertise in growth industries including healthcare, life sciences, media, hospitality, and technology; it also has an established reputation in distressed M&A. Lauren Boglivi and Daniel Ganitsky now co-lead the global M&A team, working on transformative deals in key industries, and handling both public and private company M&A. Boglivi is noted for her work in the media and entertainment sectors, particularly gaming, working with established industry players and growth companies; while Ganitsky is heavily involved in standard M&A and private equity transactions. Michael Ellis specializes in strategic public M&A, acting for a variety of listed companies including long-standing client Bed Bath & Beyond.

Practice head(s):

Lauren Boglivi; Daniel Ganitsky

Key clients

British Telecommunications plc

Discovery, Inc.

ForgeLight LLC

Grifols, S.A.

Bed Bath & Beyond Inc.

Leisure Acquisition Corporation

Houlihan Lokey, Inc.

Henry Schein, Inc

Ascena Retail Group, Inc.

Celgene Corporation

Work highlights

  • Advised Leisure Acquisition Corporation on a definitive agreement for a business combination whereby Leisure will merge into a wholly owned subsidiary of GTWY Holdings Limited in a transaction with a pro forma enterprise valuation of approximately $1.12bn.
  • Advised British Telecommunications plc on its sale of selected domestic operations and infrastructure in 16 countries in Latin America to CIH Telecommunications Americas LLC.
  • Sucessfully closed the $1.9bn transaction between Grifols S.A. and Shanghai RAAS Blood Products Co Ltd, forming a strategic alliance between the two parties.

Vinson & Elkins LLP

Vinson & Elkins LLP continues to grow its national profile, combining long-standing strength in the Texas, national, and global energy market with increasing expertise in a number of other sectors, particularly from its New York office. The firm advised on a number of major energy sector deals, including Noble Energy's $5bn sale to Chevron, in addition to a number of energy transition and technology-focused transactions, most notably within the electronic vehicles space, which has been a productive area for New York-based partner John Kupiec. In Houston, senior team leaders include Keith FullenweiderMatthew Strock, and David Oelman, who combine energy sector expertise with strong corporate M&A capabilities and relationships with investment funds. James Fox heads up the New York office, and has a broad practice covering energy, private equity, and public M&A in a variety of sectors.

Practice head(s):

Keith Fullenweider; Matt Strock; David Oelman; Jim Fox

Other key lawyers:

John Kupiec

Key clients

Noble Energy

Blackstone Infrastructure Fund

Spartan Energy Acquisition Corp.

EnCap Investments L.P.

Felix Energy Holdings II, LLC

Switchback Energy Acquisition Corporation

Jagged Peak Energy Inc.

Tortoise Acquisition Corp.

The founder of Drunk Elephant and a consortium of majority equity holders

WPT Industrial REIT

Bonanza Creek Energy, Inc.

Management of Ascentium Capital, LLC

Liberty Oilfield Services Inc.

Coolsys, Inc.

CryoLife, Inc.

OJO Labs

SailPoint Technologies Holdings, Inc.

Rebellion Photonics

Rubicon Oilfield International

Work highlights

  • Advised Noble Energy, Inc. and its Board of Directors on its sale to Chevron Corporation for $5bn.
  • Advised Blackstone Infrastructure Partners in connection with its purchase, together with affiliates of Enagas, GIC, NPS and USS, of all of the publicly-held outstanding Class A Shares of Tallgrass Energy.
  • Advised Spartan Energy Acquisition Corp on the agreement with Fisker Inc. for a business combination that would result in Fisker becoming a publicly listed company.

Akin Gump Strauss Hauer & Feld LLP

Akin Gump Strauss Hauer & Feld LLP advises corporates and an array of investment funds on public and private M&A, joint ventures, distressed acquisitions, and corporate governance issues including shareholder activism. The firm has a particular strength in the energy space, advising the likes of Apache Corporation and SRC Energy on mergers and overseas investments. It also recorded a major deal in the retail space, with Dallas-based Thomas Yang representing 7-Eleven in its $21bn acquisition of Speedway Stores nationally. The team is led from New York by Jeffrey Kochian, who primarily works with funds clients on M&A and corporate governance matters, while Kerry Berchem advises public and private companies on a range of deals, with particular expertise in distressed acquisitions and tax-driven transactions. Houston's John Goodgame specializes in energy work, and regularly advises on MLPs in addition to heading up the firm's securities practice.

Practice head(s):

Jeffrey Kochian

Other key lawyers:

Kerry Berchem; Thomas Yang; John Goodgame

Key clients

7-Eleven, Inc.

Apache Corporation

SRC Energy Inc.

Diamondback Energy, Inc.

AT&T, Inc.

Enterprise Products Partners L.P.

CenterPoint Energy, Inc.

Verso Corporation

Rattler Midstream, LP

Genesis Energy, LP

Baker Bothers Advisors, LP

Solar Capital Ltd

Viper Energy Partners LP

Consonance Capital Management LP

Conflicts committee of the board of directors of Summit Midstream GP

Wintershall DEA

Brightwood Capital Advisors, LLC

Work highlights

  • Advised 7-Eleven on its $21bn acquisition of approximately 3,900 Speedway stores located in 35 states.
  • Represented Apache Corporation in its joint venture agreement with an affiliate of Total S.A. to explore and develop Block 58 offshore Suriname.
  • Represented SRC Energy in its $1.7bn, all-stock strategic consolidation combination with PDC Energy.

Allen & Overy LLP

Allen & Overy LLP is noted for its expertise in cross-border transactions, handling multi-jurisdictional deals for a number of major clients across healthcare, pharma, technology, and industrial goods. The team worked with GSK on three separate divestitures across a number of jurisdictions, reflecting its sector expertise and cross-border capabilities. The firm has also expanded its share of domestic M&A, with new mandates from notable US clients such as Greif and Apollo. Eric Shube leads the team, and has a broad domestic and international practice, having led deals for major clients including Nielsen and Thai Union group during 2020. Stephen Besen handles public and private M&A and is particularly focused on cross-border deals involving China, Latin America, and the Middle East. Senior associate Keren Livneh is recommended for her expertise in transactional IP, and heads up the firm's practice in that area. All named lawyers are in New York.

Practice head(s):

Eric Shube

Other key lawyers:

Stephen Besen; Keren Livneh

Key clients

The Nielsen Company

Thai Union Group

GlaxoSmithKline

Greif, Inc.

Associated British Foods

IHS Towers

WillScot Corporation

Champagne Louis Roederer

Apax Group/Neuraxpharm

Apollo Global Management

TP ICAP

Work highlights

  • Represented Nielsen in its acquisition of the Precima customer analytics business of Alliance Data Systems.
  • Advised GSK on three separate divestures from their Consumer Healthcare business as part of a £1bn divestiture program.
  • Represented TP ICAP in its acquisition of Liquidnet Holdings, Inc. for a consideration of between $575m and $700m.

Bracewell LLP

Bracewell LLP is a key name in the Texas energy M&A market, with its Houston-based team routinely advising on large-scale acquisitions for a laundry list of top energy companies, including Phillips 66, DCP Midstream, and Holly Natural Resources. The team also has notable capabilities in Texan financial institution M&A, and in the area of Master Limited Partnerships (MLP). The team is led by William Anderson, a prolific dealmaker in the energy and financial services sectors, and Charles Still Jr., who handles public and private M&A, securities transactions, and equity investments. Troy Harder stands out for his expertise in MLPs, drop-down transactions, and corporate finance. Cleland Dade works regularly on pipeline and oil and gas deals, including M&A and joint ventures, and junior partner Lytch Gutmann represents public and private companies, management teams, and portfolio companies in a wide range of transactions.

Practice head(s):

Will Anderson; Charles Still Jr.

Other key lawyers:

Troy Harder; Cleland Dade; Lytch Gutmann

Testimonials

‘Knowledgeable and highly responsive. Bracewell does a nice job staying focused on the big picture and bringing issues to light for quick resolution.’

‘Bracewell has done a very nice job endearing themselves to their client, understanding our needs and positioning themselves to react quickly to our legal issues. Their insight, expertise, and value rank second to none.’

‘Bracewell’s energy and regulatory teams understand the industry incredibly well, helping navigate troubled waters towards our success and goals.’

Key clients

Phillips 66

DCP Midstream

Kinder Morgan, Inc.

Apache Corporation

Concho Resources, Inc.

Holly Energy Partners, L.P.

Evercore Group L.L.C.

Altus Midstream Company

TC Energy Corporation

Prosperity Bancshares, Inc.

Work highlights

  • Represented Prosperity Bancshares, the parent company of Prosperity Bank, in its acquisition of LegacyTexas Financial Group, Inc.
  • Advised the general partner of DCP Midstream, LP in a transaction to eliminate all general partner economic interests in DCP and incentive distribution rights in DCP in exchange for 65 million newly issued DCP common units.
  • Represented Kinder Morgan, Inc. in connection with the sale of the US portion of the Cochin Pipeline to Pembina Pipeline Corporation for $1.55bn.

Clifford Chance

Clifford Chance continued the expansion of its US M&A platform with the lateral hire of Michael Bonsignore from Akin Gump Strauss Hauer & Feld LLP in January 2020. Bonsignore joins the firm’s Washington DC office and is noted for his role in public and private M&A, particularly in the energy sector. The firm is known for its prolific work with multinationals and firms investing abroad, with cross-border deals being a particular area of strength. The group's broad client base includes prominent multinationals Hearst and Pfizer, as well as financial institutions and tech companies. David Brinton leads the team, and regularly advises on cross-border M&A, with a particularly strong record in Latin America-domiciled work. Benjamin Sibbett has a standout client base that includes Pfizer and Europcar, reflecting a broad practice and international capabilities, while Sarah Jones co-heads the firm’s global consumer goods team and represents blue-chip clients in the sector in complex transactions. Lawyers are in New York unless stated otherwise.

Practice head(s):

David Brinton

Other key lawyers:

Michael Bonsignore; Benjamin Sibbett; Sarah Jones

Testimonials

‘Hands-on, creative and international-savvy with a very high quality service globally in all jurisdictions they operate; 24/7 service and very practical advice that you can count on.’

‘The practice demonstrated an amazing willingness and ability to make itself familiar with the underlying business – although the practice had to advise on a transaction playing in a niche industry.’

‘The performance of Benjamin Sibbett and his team was exceptional.’

Key clients

Ardian

Europcar

Fidelity National Information Services

Hearst

Informa

Marubeni Corporation

Mondelēz International

Pfizer

Symrise

Textron

Work highlights

  • Advised a consortium of Japanese companies, Marubeni Corporation and Mizuho Leasing Company, Limited, on the acquisition of the shares of aviation finance company Aircastle Limited.
  • Advised Carey Watermark Investors 2 Incorporated on its all-stock merger and management internalization transaction with Carey Watermark Investors 1 Incorporated to create a $4.6bn self-managed, non-traded real estate investment trust.
  • Advised Ardian on the strategic acquisition by its investee company, The Dedalus Group, of DXC Technology’s healthcare software provider business.

Cooley LLP

With a strong focus on tech-based companies and growth industries, Cooley LLP has enjoyed a prolific transactional year in the areas of healthcare, life sciences, and innovation technology. The firm advises new companies from inception to sale, as well as acting for emerging major tech and media companies, including Zoom and TiVo. San Diego-based co-head Barbara Borden advised clinical-stage biotechnology company Synthorx on its sale to Sanofi, while San Francisco practice head Jamie Leigh acted for Sunrun, a market leading energy provider, in its acquisition of solar energy company Vivint Solar in an all-stock transaction worth $3.2bn, reflecting the firm's movement into large-cap deals in a variety of innovation-focused industries. In addition, the firm’s corporate advisory work and antitrust capabilities allow it to act on complex transactions involving demanding Silicon Valley clients and regulatory regimes, bolstered by a strong platform in Asia and across the US. Palo Alto-based partner Steven Tonsfeldt is also noted for his record in M&A.

Practice head(s):

Barbara Becker; Jamie Leigh

Other key lawyers:

Steve Tonsfeldt

Key clients

ArcherDX

Avedro

Battery Ventures

Centerview Partners

Cornerstone OnDemand

Dova Pharmaceuticals

Eric Roza

Finicity

Forty Seven

Instructure

Kim Kardashian West

Kylie Jenner / King Kylie Cosmetics

MIRROR

Portola

Sazerac

Sunrun

Synthorx

TiVo

Xyphos Biosciences

Zoom Video Communications

Work highlights

  • Advised Zoom on its acquisition of Keybase, a secure messaging and file-sharing service, to accelerate Zoom’s plan to build end-to-end encryption that can reach current Zoom scalability.
  • Advised clinical-stage biotechnology company Synthorx on its agreement to sell all of its outstanding shares for $68 per share in cash to Sanofi. This represents an aggregate equity value of approximately $2.5bn.
  • Advised TiVo on its agreement to combine with Xperi Corporation in an all-stock transaction, representing approximately $3bn of combined enterprise value.

Greenberg Traurig LLP

Greenberg Traurig LLP advises public and private companies on a wide range of complex domestic and international M&A, with clients including notable financial services and insurance companies, alongside senior management teams. The firm also handles takeover defense proceedings. New York's Adel Aslani-Far is a key name in the team.

Practice head(s):

Adel Aslani-Far