Deal Watch: Three Firms Advise on Medical Supply Mega-Merger
Skadden, Arps, Slate, Meagher & Flom, Weil, Gotshal & Manges and Wachtell, Lipton, Rosen & Katz are advising on a proposed $24 billion deal that will see Becton, Dickinson & Co. acquire medical device manufacturing rival C.R. Bard Inc. Skadden and Wachtell also advised on another $6.1 billion deal involving Cardinal Health Inc.
April 24, 2017 at 11:51 PM
10 minute read
Skadden, Arps, Slate, Meagher & Flom, which has been enjoying an impressive streak of transactions to start 2017, is one of three Am Law 100 firms advising on a proposed $24 billion cash-and-stock deal that will see Becton, Dickinson & Co. acquire medical device manufacturing rival C.R. Bard Inc.
The mega-merger, announced Sunday, will create a powerhouse in the medical supply and technology sector if it closes as expected by the fall of this year. Skadden M&A partners C. Michael Chitwood, Paul Schnell and Thomas Greenberg are leading a team from the firm advising Franklin Lakes, New Jersey-based BD. All three Skadden partners counseled BD in 2014 on its $12.2 billion buy of medical technology company CareFusion Corp.
Weil, Gotshal & Manges, which handled the financing for the CareFusion deal, has now picked up the role advising Citigroup Inc. in its role providing financing for the current deal. Citi is also serving as financial adviser to BD. Weil banking partner Morgan Bale, capital markets partner Faiza Rahman, M&A partner Raymond Gietz and regulatory counsel John O'Loughlin are advising Citi.
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