Mergers & Acquisitions

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 2020 – Q1 2025

Ranked by dollar value ($ billions)

Source: LSEG, April 2025
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 and Valuation practices.

Spotlight

S&C Tops M&A Rankings for Global Dealmaking in Q1 2025

S&C Shortlisted for Financial Times’ Innovative Lawyers Europe Award for Bosch’s $8B Acquisition of Residential and Light Commercial HVAC Business from Johnson Controls and Hitachi

Regina Readling Returns to Sullivan & Cromwell as Partner in the Firm’s Executive Compensation Group

John Horsfield-Bradbury Recognized in Financial News’ Fifty Most Influential Lawyers List

S&C Advises Guild Holdings in $1.3 Billion Sale to Bayview Asset Management

Recent Public Company M&A Matters

Amgen in its $27.8 billion acquisition of Horizon Therapeutics
AT&T in its spin-off of WarnerMedia into Discovery, under which WarnerMedia combined with Discovery
Boeing in its $8.3 billion pending acquisition of Spirit AeroSystems

Canadian Pacific Railway in its $31 billion acquisition of Kansas City Southern
Discover in its $35.3 billion merger with Capital One
Stellantis (formerly Fiat Chrysler Automobiles) in its $60 billion 50/50 merger with Peugeot

Recent Private Company M&A Matters

Digital Bridge Group in its $3.2 billion sale of its Wellness Infrastructure business to an investment group comprised of Highgate Capital Investments and Aurora Health Network
Elon Musk, xAI and X on the $113 billion merger of xAI and X
OpenAI in its multi-billion dollar partnership with Microsoft
RedBird Capital Partners in connection with Skydance Investor Group’s investment of more than $8 billion as part of Skydance Media and Paramount Global’s agreement to form “New Paramount”
Subway in its acquisition by Roark Capital
United Rentals in its $2 billion acquisition of Ahern Rentals

Recent Cross-Border M&A Matters

BNP Paribas in its $16.3 billion sale of Bank of the West to BMO Financial Group
Bosch in the $8 billion pending acquisition of the global HVAC business for residential and light commercial buildings from Johnson Controls, including 100% interest in its joint venture with Hitachi
Cementos Argos, as the largest shareholder in Summit Materials, in connection with its $11.5 billion acquisition by Quikrete Holdings
The Goodyear Tire & Rubber Company in the $905 million sale of its Off-the-Road tire business to The Yokohama Rubber Company
Stellantis (formerly Fiat Chrysler Automobiles) in its $60 billion 50/50 merger with Peugeot
Tiffany & Co. in its approximately $16 billion acquisition by LVMH Moët Hennessy Louis Vuitton

Recent Special Committee Matters

Special Committee of Bally’s Corporation in an acquisition of Bally’s by affiliates of Standard General
Special Committee of the Board of Directors of Dole Food Co. in Dole’s acquisition by an investor group led by Dole Chairman and CEO David Murdock
Special Committee of the Board of Masimo in connection with its evaluation of certain strategic alternatives and governance matters
Special Committee of the Board of Directors of News Corporation in evaluating a proposed merger with Fox Corporation
Special Committee of the Board of Directors of Teck Resources in Teck's $9 billion sale of Elk Valley Resources, through a sale of a majority stake to Glencore, and a sale of a minority stake to Nippon Steel Corporation
Special Committee of the Board of Directors of Weber in connection with BDT Capital Partners’ $3.7 billion acquisition of Weber’s outstanding Class A Shares that BDT did not already own