KPS Delivers $2.6B Stalking Horse Bid to Garrett Motion in Chapter 11

Garrett Motion obtained approval of stalking horse bidding protections for affiliates of KPS Capital Partners, including a $63 million termination fee and expense reimbursement that is subject to a limit of $21 million.

October 27, 2020 AlixPartners | Garrett Motion Morgan Stanley & Co. | KPS Capital Partners | Olivier Rabiller | Perella Weinberg Partners | Quinn Emanuel Urquhart & Sullivan | Sullivan & Cromwell Ellie Delany

First Citizens and CIT to Merge

First Citizens BancShares, the parent company of First-Citizens Bank & Trust Company, and CIT Group, the parent company of CIT Bank, will combine in an all-stock merger of equals to create the 19th largest bank in the United States based on assets.

October 16, 2020 CIT Bank | CIT Group | Ellen R. Alemany | First Citizens BancShares | First-Citizens Bank & Trust Company | Frank Holding Jr. | Keefe Bruyette & Woods | Morgan Stanley | Piper Sandler | Smith Anderson Blount Dorsett Mitchell & Jernigan | Sullivan & Cromwell Phil Neuffer

AlixPartners to Advise LSC Communications During Bankruptcy Process

AlixPartners will serve as restructuring advisor to LSC Communications, which voluntarily filed for business reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.

April 13, 2020 AlixPartners | Evercore Group | LSC Communications | Sullivan & Cromwell | Thomas J. Quinlan III Phil Neuffer

S&C Wins Global M&A Deal of the Year Awards

Sullivan & Cromwell (S&C) was recognized by The American Lawyer’s Global Legal Awards, a competition focused on the best cross-border work in disputes, finance, M&A and citizenship.

July 22, 2014 Sullivan & Cromwell ABF Journal