US heavy hitters advise on $17.2bn Walgreens Boots Alliance deal
Skadden, Simpson Thacher, Weil and Jones Day all win key roles on US pharmacy deal
October 29, 2015 at 05:45 AM
2 minute read
Skadden Arps Slate Meagher & Flom, Simpson Thacher & Bartlett, Weil Gotshal & Manges and Jones Day have all been awarded roles on Walgreens Boots Alliance's $17.2bn (£11.21bn) takeover of US drugs retailer Rite Aid.
The pharmacy giant, which was created by the merger of Walgreens and Alliance Boots in December 2014, will finance the transaction through existing cash, issuance of new debt and assumption of Rite Aid debt.
Simpson Thacher is leading for Walgreens Boots Alliance. The firm's team is being led by corporate partners Mario Ponce and Christopher May and also includes banking partner Brian Steinhardt, capital markets partners Ken Wallach and Mark Brod, employee benefits partner Brian Robbins and tax partner John Creed.
Weil is acting as antitrust counsel for Walgreens. Its team is being led by Washington DC antitrust partners Steven Newborn and Steven Bernstein.
Skadden is lead counsel for Rite Aid. Its team is being led by M&A partners Paul Schnell, Marie Gibson and Alexandra McCormack. Also on the deal are corporate finance partners Stacy Kanter and Michael Zeidel, financial institutions head Todd Freed, banking partner David Reamer, employee benefits partner Neil Leff.
Partner Stuart Finkelstein is advising on tax issues, partner Bruce Goldner is providing advice on intellectual property law and litigation partner Gregory Luce is advising on healthcare issues.
Jones Day is advising Rite Aid on antitrust matters. Its team is being co-led by of counsel Phillip Proger and partner Kenneth Field and also includes partner Mike Knight.
The 2014 Boots-Walgreen merger saw Allen & Overy (A&O), Simpson Thacher, Wachtell Lipton Rosen & Katz and Gibson Dunn & Crutcher win the key roles on the deal.
On that deal Simpson Thacher was acting for Boots' private equity owner Kohlberg Kravis Roberts, with a team led by M&A partner Mark Pflug.
Walgreens was advised by A&O, with a team led by M&A partner Justin Steer.
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