A&O, Wachtell, Simpson, and Gibson lead £5.6bn drugstore deal

August 7, 2014 Allen & Overy, Wachtell Lipton Rosen & Katz, Simpson Thacher & Bartlett and Gibson Dunn & Crutcher have taken leading roles in the £5.6bn acquisition of a 55 per cent stake in Alliance Boots by US drugstore chain Walgreens.

Walgreens already owns 45 per cent of the stock in Alliance Boots, and this acquisition will make it the sole owner. The deal is worth $13.5bn in cash and stock, and follows the retail giant’s acquisition of a 45 per cent stake in Alliance Boots in 2012 for $6.7bn. 

Walgreens is advised by Wachtell Lipton Rosen & Katz and Allen & Overy. Allen & Overy’s team was led by Amsterdam-based corporate partner Justin Steer, with assistance from antitrust partner Paul Glazener and corporate senior associate Emily Baker.

Gibson Dunn & Crutcher advised Lazard, the financial adviser to Walgreens, with a team that included New York-based corporate partners Eduardo Gallardo and Dennis Friedman, alongside corporate associate Saee Muzumdar.

The owner of Alliance Boots, KKR, was advised by Simpson Thacher & Bartlett, who fielded a team led by New York-based M&A partner Mark Pflug.

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