The Firm is representing Kohlberg Kravis Roberts & Co. L.P. (KKR) and Alliance Boots GmbH (Alliance Boots) in connection with the acquisition of a 45% equity stake in Alliance Boots by Walgreen Co. (Walgreens), in a cash-and-stock deal valued at approximately $6.7 billion. Walgreens will have the option to proceed to a full combination by acquiring the remaining 55% of Alliance Boots at a later date for approximately $9.5 billion in cash and stock. Closing of the first step of the transaction is subject to satisfaction of regulatory and other customary conditions.
Alliance Boots is an international pharmacy-led health and beauty group operating Europe’s largest pharmacy chain, and Walgreens is the nation’s largest drugstore chain. The transaction is expected to create the world’s largest network of pharmacy-led health and beauty retail stores and buyer of prescription drugs.
The Simpson Thacher team includes: Mark Pflug, Gary Horowitz, Daniel Tseng, Daniel Layfield, John Wang, Alexander Coedo, Samay Shah and Jona Lundborg (M&A); Steven Todrys, Meredith Jones, Sean Austin and Sean FitzGerald (Tax); Ian Barratt, Lucy Jenkins and Chris Bell (Credit); Michael Nathan and Justin Hoffman (Securities); Andrea Wahlquist and Jennifer Pepin (Executive Compensation & Employee Benefits); Lori Lesser (IP); Krista McManus (Real Estate); Adeeb Fadil and Timothy Mulvihill (Environmental); and David Vann, Joe Tringali, Michael Naughton and Ellen Frye (Regulatory/Antitrust).
