Wachtell, Latham Guide Palo Alto’s $25 Billion CyberArk Deal

Wachtell, Lipton, Rosen & Katz provided legal guidance to Palo Alto Networks Inc. in its plans to purchase Israeli cybersecurity company CyberArk Software Ltd., which was steered by Latham & Watkins and Israeli firm Meitar Law Offices.

The cash-and-stock deal values the company at about $25 billion.

Wachtell Lipton’s team guiding Palo Alto Networks is led by partners Edward Herlihy and Jacob Kling. Herlihy is a veteran dealmaker and co-chairman of the firm’s executive committee and Kling is co-chair of the firm’s M&A practice.

The duo also this week steered Norfolk Southern Corp. in its $72 billion proposed sale to Union Pacific Corp, the largest M&A transaction this year.

Latham’s lawyers advising CyberArk were led by corporate partners Charles Ruck, who is the Global Department Chair of the firm’s corporate department and a former member of its executive committee, and Leah Sauter.

Sauter led CyberArk’s $1.5 billion acquisition of machine identity management company Venafi in 2024.