Sullivan & Cromwell LLP Logo
  • Home
  • Lawyers
  • Practices
  • Insights
  • About
  • Careers
  • Alumni
  • Client
© 2023 Sullivan & Cromwell LLP
    Home /  Practices /  General Practice /  Mergers & Acquisitions

    Mergers & Acquisitions

    Related Lawyers

    S&C’s Mergers & Acquisitions Group brings a rare combination of creativity and commercial sensitivity to every representation. The world’s most influential companies repeatedly turn to us for their most significant matters, drawn to our dedication to client service, attention to detail and commercial pragmatism.

    By understanding our clients’ strategic objectives, we help businesses around the world navigate the legal and commercial complexities of domestic and global cross-border M&A. We can execute any type of transaction, in any industry, economic climate or geographic region and take great pride in partnering with our clients as they pursue their objectives.

    Teamwork is a hallmark of S&C. Our multidisciplinary teams draw on our leading expertise in a range of key areas that are often integral to the execution of complex transactions, including corporate governance, antitrust, finance, tax, intellectual property, executive compensation and litigation. This close collaboration with clients and colleagues gives our M&A team the versatility to best serve the needs of our clients.

    Global M&A Rankings 2018 – H1 2023

    Ranked by dollar value ($ billions)

    Global M&A Rankings 2018-H1 2023

    Source: Refinitiv, July 2023
    Data include representations of both principals and financial advisers.
    Data include pending and completed deals only.

    Read more about our leading Corporate Governance and M&A Financial Advisory practices.

    Read More
    Areas of Focus

    Areas of Focus

    • Corporate Governance
    • M&A Financial Advisory
    • Corporate Governance Litigation
    • Private Equity

    Spotlight

    S&C Tops M&A Rankings for Global and U.S. Dealmaking for First Half of 2023

    Read More

    Rita O’Neill and Scott Crofton Participate in the University of Texas Law CLE’s 19th Mergers and Acquisitions Institute

    Read More

    S&C Advises Cementos Argos in Merger with Summit Materials

    Read More

    S&C Advises C&S Wholesale Grocers in Acquiring Assets from The Kroger Company and Albertsons Companies

    Read more

    S&C Advises Enbridge in $14 Billion Acquisition of Utilities Providers

    Read more
    • Experience
    • Rankings and Recognitions
    • News
    • Publications, Videos and Podcasts
    • Practice Contacts
    • Related Practices
    Experience

    Experience

    • Abiomed (U.S.) in its $18 billion acquisition by Johnson & Johnson (U.S.), the largest all-cash medtech deal in history
    • ACE Limited (Switzerland) in its $29.5 billion acquisition of The Chubb Corporation (U.S.)
    • Advance (U.S.) in connection with Discovery Communications’ (U.S.) $14.6 billion acquisition of Scripps Interactive (U.S.)
    • Alcatel-Lucent (France) in its $16.6 billion acquisition by Nokia (Finland)

    • Alibaba Group (China) in its $2 billion investment in Lazada Group (Singapore)
    • Amazon.com (U.S.) in its $13.7 billion acquisition of Whole Foods Market (U.S.)
    • Amgen (U.S.) in its $28.3 billion pending acquisition of Horizon Therapeutics (Ireland), approximately $1.9 billion acquisition of Five Prime Therapeutics (U.S.), $13.4 billion acquisition of worldwide rights to Otezla® from Celgene Corporation (U.S.) in connection with Celgene’s merger with Bristol-Myers Squibb (U.S.) and $10.5 billion acquisition of Onyx Pharmaceuticals (U.S.)
    • Andeavor (U.S.) in its $35.6 billion acquisition by Marathon Petroleum (U.S.) and $6.4 billion acquisition of Western Refining (U.S.)
    • Anheuser-Busch InBev (Belgium) in its strategic relationship with a consortium of investors led by Apollo Global Management (U.S.), which acquired a $3 billion minority stake in AB InBev’s U.S.-based metal container plants, $123 billion merger with SABMiller (U.K.) and $20.1 billion acquisition of the remaining stake it didn’t already own in Grupo Modelo (Mexico)
    • AT&T (U.S.) in its spin-off of WarnerMedia (U.S.) into Discovery (U.S.), under which WarnerMedia combined with Discovery, creating a premier, standalone global entertainment company (named “Most Outstanding Deal of the Year” by The Deal), agreement with TPG Capital (U.S.) that established a new company named DIRECTV that owns and operates AT&T’s U.S. video business unit with an enterprise value of $16.25 billion, $108.7 billion acquisition of Time Warner Inc. (U.S.) and $67 billion acquisition of DIRECTV (U.S.)
    • Banco Bilbao Vizcaya Argentaria (Spain) in its $11.5 billion sale of BBVA USA Bancshares, including its U.S. banking subsidiary, BBVA USA, to The PNC Financial Services Group (U.S.)
    • Baxter International (U.S.) in its acquisition of Hillrom (U.S.) for a total enterprise value of $12.4 billion
    • Bayer (Germany) in its $6.9 billion sale of its Animal Health business to Elanco Animal Health (U.S.), $66 billion acquisition of Monsanto (U.S.), $9 billion sale of selected crop science assets to BASF (Germany) and $14.2 billion acquisition of Merck’s (U.S.) consumer care business
    • BBA Aviation (U.K.) in its $2.1 billion acquisition of Landmark Aviation (U.S.)
    • Biohaven Pharmaceuticals (U.S.) in its $11.6 billion acquisition by Pfizer (U.S.)
    • BNP Paribas (France) in its $16.3 billion sale of Bank of the West (U.S.) to BMO Financial Group (Canada)
    • C&S Wholesale Grocers (U.S.) in its $1.9 billion pending acquisition of 413 stores, eight distribution centers and two offices that Kroger (U.S.) is proposing to divest in connection with Kroger and Albertsons Companies' (U.S.) merger
    • Canadian Pacific Railway in its $31 billion acquisition of Kansas City Southern (U.S.), creating the first rail network connecting the U.S., Mexico and Canada
    • Cementos Argos (Colombia) in connection with its U.S. operations, Argos North America Corp.’s $3.2 billion pending combination with Summit Materials (U.S.)
    • Chevron U.S.A. in its acquisition of a majority interest in ACES Delta (U.S.), which is developing a renewable energy hub to convert, store and deliver green hydrogen to the Western U.S.
    • Citizens Financial Group (U.S.) in its $3.5 billion merger with Investors Bancorp (U.S.) 
    • Columbia Pipeline Group (U.S.) in its $13 billion acquisition by TransCanada
    • Concho Resources (U.S.) in its $13.7 billion acquisition by ConocoPhillips (U.S.) and $9.5 billion acquisition of RSP Permian (U.S.)
    • Cornerstone Building Brands (U.S.) in its $5.8 billion acquisition by Clayton, Dubilier & Rice (U.S.)
    • Credit Suisse (Switzerland) in its $3.3 billion merger with UBS (Switzerland)
    • CVS (U.S.) in its $12.8 billion acquisition of Omnicare (U.S.)
    • Delta Air Lines (U.S.) in its strategic partnership with LATAM Airlines Group (Chile) and Delta’s $1.9 billion investment for a 20% stake in LATAM
    • Deutsche Wohnen (Germany) in its €19 billion business combination with Vonovia (Germany), the largest-ever real estate merger in Germany 
    • Diageo (U.K.), in multiple transactions including its:
      • $610 million acquisition of Aviation American Gin (U.S.) through the acquisition of Aviation Gin (U.S.) and Davos Brands (U.S.). Aviation American Gin co-owner Ryan Reynolds retains an ongoing ownership interest in the brand.
      • $1 billion acquisition of Casamigos (U.S.) from founders George Clooney, Rande Gerber and Mike Meldman
      • $550 million sale of nineteen brands to Sazerac (U.S.)
    • Diebold (U.S.) in its $1.8 billion merger with Wincor Nixdorf (Germany)
    • DISH Network Corporation (U.S.) as lead counsel in DISH’s agreement with T-Mobile (U.S.), Sprint (U.S.) and the U.S. Department of Justice under which DISH acquired Sprint’s prepaid wireless business and entered the U.S. wireless market as the fourth nationwide facilities-based provider
    • DraftKings (U.S.) in its business combination with Diamond Eagle Acquisition Corp. (U.S.) and SBTech (Isle of Man) and listing on NASDAQ
    • Drillisch (Germany) in its $10 billion business combination with United Internet (Germany)
    • Enbridge (Canada) in its $14 billion pending acquisition of The East Ohio Gas Company (U.S.), Questar Gas Company (U.S.) and its related Wexpro (U.S.) companies and Public Service Company of North Carolina (U.S.) from Dominion Energy (U.S.) and $43 billion acquisition of Spectra Energy (U.S.)
    • First Horizon (U.S.) in its $13.4 billion pending acquisition by TD Bank Group (Canada)
    • Fiserv (U.S.) in its $22 billion acquisition of First Data Corporation (U.S.)
    • Forest City Realty Trust (U.S.) in its $11.4 billion acquisition by Brookfield Asset Management (Canada)
    • GGP (U.S.) in its $28 billion acquisition by Brookfield Property Partners (Bermuda)
    • Grupo Sura (Colombia) in a series of transactions with Grupo Nutresa (Colombia), IHC Capital Holding (UAE), Grupo Argos (Colombia), JGDB Holding (Colombia) and Nugil (Colombia), as a result of which Grupo Argos and Grupo Sura will cease to be shareholders of Grupo Nutresa, and Grupo Nutresa, JGDB Holding, Nugil and IHC will cease to be shareholders of Grupo Sura and Grupo Argos
    • Haleon Group (U.K.) in its demerger from the GSK Group (U.K.), making Haleon the world’s biggest stand-alone consumer health company
    • Harris Corporation (U.S.) in its $35 billion merger of equals with L3 Technologies (U.S.) to form L3Harris Technologies (U.S.)
    • Impax Laboratories (U.S.) in its $5.5 billion merger with Amneal Pharmaceuticals (U.S.)
    • Intel (U.S.) in connection with Apple’s (U.S.) $1 billion acquisition of the majority of Intel’s smartphone modem business
    • Kite Pharma (U.S.) in its $11.9 billion acquisition by Gilead Sciences (U.S.)
    • Kraft Foods Group (U.S.) in its $55 billion merger with H.J. Heinz Company (U.S.) to form The Kraft Heinz Company
    • M&T Bank (U.S.) in its $8.3 billion acquisition of People’s United Financial (U.S.)
    • Major League Baseball (U.S.) and MLB Advanced Media (U.S.) (MLBAM) in connection with the sale of a majority ownership interest in MLBAM’s subsidiary, BAMTech (U.S.), to The Walt Disney Company (U.S.) for $1.58 billion
    • Merck KGaA (Germany) in its $6.4 billion acquisition of Versum Materials (U.S.)
    • Mitsubishi UFJ Financial Group (Japan) in its $8 billion sale of MUFG Union Bank (U.S.) to U.S. Bancorp
    • Navistar International (U.S.) in its $3.7 billion acquisition by TRATON (Germany)
    • Novartis (Switzerland) in its $9.7 billion acquisition of The Medicines Company (U.S.)
    • OpenAI (U.S.), the developer of ChatGPT and Dall-E, in its multi-billion dollar partnership with Microsoft (U.S.), including in the development of supercomputing systems to accelerate OpenAI’s groundbreaking independent AI research, and enabling the deployment of OpenAI’s models in Microsoft’s consumer and enterprise products
    • PacWest Bancorp (U.S.) in its pending merger with Banc of California (U.S.)
    • Panera Bread (U.S.) in its $7.5 billion acquisition by JAB (Luxembourg)
    • Pepco Holdings (U.S.) in its $6.6 billion acquisition by Exelon (U.S.)
    • Porsche Automobil Holding (Germany) in its €10.1 billion acquisition of 25% of the ordinary voting shares of Porsche AG (Germany) from Volkswagen AG (Germany)
    • Praxair (U.S.) in its $80 billion merger of equals with Linde (Germany)
    • Rio Tinto (U.K.) in its $3.1 billion acquisition of Turquoise Hill Resources (Canada)
    • RR Donnelley & Sons (U.S.) in the spin-off of its financial print and PRS businesses to create three independent, publicly traded companies
    • Seagen (U.S.) in its $43 billion pending acquisition by Pfizer (U.S.)
    • Sotheby’s (U.S.) in its $3.7 billion acquisition by BidFair USA, an entity wholly owned by media and telecom entrepreneur as well as art collector, Patrick Drahi
    • Standard Industries Holdings (U.S.) in its $7 billion acquisition of W. R. Grace & Co. (U.S.)
    • Standard Investments (U.S.) and Standard Industries (U.S.), as the largest stockholder in GCP Applied Technologies (U.S.), in connection with Saint-Gobain’s (France) $2.3 billion acquisition of all outstanding shares of GCP
    • State Grid (China) in its $13 billion acquisition of a 94.8% stake in CPFL Energia (Brazil)
    • Stellantis (Netherlands) (formerly Fiat Chrysler Automobiles) in its $60 billion 50/50 merger with Peugeot (France)
    • Stellantis (Netherlands) (formerly Fiat Chrysler Automobiles) and Magneti Marelli (Italy) in the $6.5 billion sale of the Magneti Marelli automotive components business to KKR (U.S.) portfolio company CK Holdings Co. (Hong Kong), a holding company of Calsonic Kansei Corporation (Japan)
    • Stemcentrx (U.S.) in its $9.8 billion acquisition by AbbVie (U.S.)
    • Subway (U.S.) in its pending acquisition by Roark Capital (U.S.)
    • Sumitovant Biopharma (U.S.) and Sumitomo Pharma (Japan) in their $2.9 billion acquisition of Myovant Sciences (Switzerland)
    • Suncor Energy (Canada) in its $4.6 billion acquisition of Canadian Oil Sands
    • SunTrust Banks (U.S.) in its $66 billion merger of equals with BB&T Corporation (U.S.)
    • Synageva (U.S.) in its $8.4 billion acquisition by Alexion Pharmaceuticals (U.S.)
    • Syneos Health (U.S.) in its $7.4 billion merger of equals with inVentiv Health (U.S.)
    • Syntel (U.S.) in its $3.57 billion acquisition by Atos (France)
    • Teva Pharmaceutical (Israel) in its $40.5 billion acquisition of Allergan Generics (Ireland)
    • Tiffany & Co. (U.S.) in its approximately $16 billion acquisition by LVMH Moët Hennessy Louis Vuitton (France)
    • Triton International (U.S.) in its $13.3 billion pending acquisition by Brookfield Infrastructure (Canada)
    • Unisys (U.S.) in its $1.2 billion sale of its U.S. Federal business to Science Applications International Corporation (SAIC) (U.S.)
    • UnitedHealth Group (U.S.) in connection with Optum’s (U.S.) $3.7 billion pending acquisition of Amedisys (U.S.), $6 billion acquisition of LHC Group (U.S.), $13.8 billion acquisition of Change Healthcare (U.S.) and $4.3 billion acquisition of DaVita Medical Group (U.S.), its $2.8 billion acquisition of Empresas Banmédica (Chile) and the $12.8 billion combination of its free-standing pharmacy care services business OptumRx with Catamaran Corporation (U.S.)
    • Verifone Systems (U.S.) in its $3.4 billion acquisition by an investor group led by Francisco Partners (U.S.)
    • Vornado (U.S.) in the spin-off and $8.4 billion merger of its Washington, D.C. business with The JBG Companies (U.S.) to form JBG Smith Properties

    Subscribe to receive our Insights.

    Read More
    Rankings and Recognitions

    Rankings and Recognitions

    • Frank Aquila, Ari Blaut and Davis Wang Named Top Dealmakers by The American Lawyer

      March 27, 2023
      (L to R) Frank Aquila, Ari Blaut and Davis Wang
      (L to R) Frank Aquila, Ari Blaut and Davis Wang
    • Brad King Named Law360 ‘Rising Star’ for Life Sciences

      July 31, 2023
    • Keiji Hatano Recognized as One of Japan’s Top 100 Lawyers by Asia Business Law Journal for Two Years in a Row

      July 10, 2023
    • S&C Tops M&A Rankings for Global and U.S. Dealmaking for First Half of 2023

      July 7, 2023
    • Sarah Payne Named to Daily Journal’s ‘Top Women Lawyers’ in California List

      June 30, 2023
    Read More
    Read More
    News

    News

    • Lauren Boehmke Comments on Activist Campaigns Targeting CEOs in Agenda

      September 29, 2023
    • Frank Aquila Discusses Deal Activity with the Financial Times

      September 29, 2023
    • S&C Advises Wasserman on Acquisition of Brillstein Entertainment Partners

      September 28, 2023
    • Rita O’Neill and Scott Crofton Participate in the University of Texas Law CLE’s 19th Mergers and Acquisitions Institute

      September 22, 2023
    • S&C Advises Cementos Argos in Merger with Summit Materials

      September 20, 2023
    • S&C Advises C&S Wholesale Grocers in Acquiring Assets from The Kroger Company and Albertsons Companies

      September 14, 2023
    Read More
    Read More
    Publications, Videos and Podcasts

    Publications, Videos and Podcasts

    • S&C Hosts Webinar on M&A Trends in the Pharmaceutical Industry

      Webinars  |  May 24, 2023
    • ESG Newsletter

      Newsletters |  September 28, 2023
    • Melissa Sawyer, Heather Coleman and June Hu Present Webinar on Lessons From the 2023 Proxy Season and Trends for 2024

      Webinars |  September 18, 2023
    • 2023 Corporate Governance Developments

      Emerging Issues |  September 7, 2023
    • 2023 Corporate Governance Developments

      S&C Memos |  September 7, 2023
    Read More
    Read More
    Practice Contacts

    Practice Contacts

    Melissa Sawyer Headshot Photo
    Melissa Sawyer
    New York
    +1-212-558-4243
    Email
    vCard
    Francis J. Aquila Headshot Photo
    Francis J. Aquila
    New York
    +1-212-558-4048
    Email
    vCard
    Alison S. Ressler Headshot Photo
    Alison S. Ressler
    Los Angeles
    +1-310-712-6630
    New York
    +1-212-558-3098
    Email
    vCard
    Olivier de Vilmorin Headshot Photo
    Olivier de Vilmorin
    Paris
    +33-1-73-04-10-00
    Email
    vCard
    Carsten Berrar Headshot Photo
    Carsten Berrar
    Frankfurt
    +49-69-4272-5200
    Email
    vCard
    Ben Perry Headshot Photo
    Ben Perry
    London
    +44-20-7959-8900
    Email
    vCard
    Richard A. Pollack Headshot Photo
    Richard A. Pollack
    London
    +44-20-7959-8900
    New York
    +1-212-558-4000
    Email
    vCard
    Kay Ian Ng Headshot Photo
    Kay Ian Ng
    Hong Kong
    +852-2826-8601
    Email
    vCard
    Keiji Hatano Headshot Photo
    Keiji Hatano
    Tokyo
    +81-3-3213-6171
    Email
    vCard
    Read More
    Related Practices

    Related Practices

    • Capital Markets
    • Commercial Real Estate
    • Consumer & Retail
    • Corporate Governance
    • Credit & Leveraged Finance
    • Environmental Transactions
    • Environmental, Social and Governance (ESG)
    • Executive Compensation
    • Financial Services
    • Foreign Investments and Trade Regulations
    • General Practice
    • Healthcare & Life Sciences
    • Intellectual Property & Technology Transactions
    • Project Development & Finance
    • Restructuring
    • Technology, Media & Telecommunications
    Sullivan & Cromwell LLP Logo
    • Twitter icon
    • LinkedIn icon
    • RSS Feed icon
    • Podcasts icon
    • Home
    • Contact Us
    • Sitemap
    • Information Policy Relating to Cookies
    • Privacy Policy
    • California Privacy Policy
    • Website Notice
    • Attorney Advertising Notice
    © 2023 Sullivan & Cromwell LLP