Samuel Butler, a Midwesterner who became a top figure of the Wall Street legal world81bet, advising on transformative takeovers and leading city institutions like the New York Public Library, died on Jan. 4 at his home in Manhattan. He was 94.
Mortgage rates do not move in tandem with the Fed’s actions, but they are influenced by them. They largely track the yield on 10-year Treasury bonds. Those are driven by a variety of factors, including the outlook for inflation, the Fed’s decisions and how investors react.
His family confirmed his death in a statement.
oijogosOver a nearly five-decade career as a lawyer — 18 of those years as presiding partner at Cravath, Swaine & Moore, one of Wall Street’s most elite firms — Mr. Butler became a go-to adviser on major mergers and acquisitions, helping to create some of today’s corporate giants.
He was also credited with helping Cravath, long known as a law firm to blue-chip companies like J.P. Morgan, get a piece of the deals boom that took off in the 1980s. He advised the drug maker Squibb in its sale to Bristol-Myers in 1989, Time Inc. in its 1990 merger with Warner Communications, CBS in its 1995 sale to the Westinghouse Corporation,ijogo cassino Capital Cities/ABC in its 1995 sale to Walt Disney, and Salomon Smith Barney in its 1997 sale to Travelers Group.
“When you think about all the big deals that were going on in the ’80s and ’90s, Sam was right there,” Faiza Saeed, Cravath’s current presiding partner, who worked with Mr. Butler on the Capital Cities deal, said in an interview.
Mr. Butler himself played down his mergers credentials. “I do not regard myself as a classic M.&A. transactional lawyer,” he said in a 2004 town hall meeting at Cravath. “I would regard myself as a relationship lawyer.”
That was perhaps most evident in his decades-long bond with one of the most famous corporate deal makers of the modern era, Warren E. Buffett, of Berkshire Hathaway. The two got to know each other in the 1970s, when Mr. Butler was a director of Geico, then a troubled auto insurer that suddenly found itself with a major new shareholder: Mr. Buffett, who had amassed nearly a fifth of the company’s shares.
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