International regulation agency Hogan Lovells is, along with New York regulation agency Cravath, Swaine & Moore, advising NYSE-listed agency AmerisourceBergen Corporation on its US$6.47 billion acquisition of Walgreens Boots Alliance, Inc.’s Alliance Healthcare wholesale distribution enterprise in Europe, along with specified pre-wholesale and different companies, as well as retail pharmacy operations in Lithuania, the Netherlands and Norway. The acquisition, as soon as accomplished, will make AmerisourceBergen Corporation a worldwide chief in pharmaceutical distribution and companies.
The acquisition is structured as a share sale and the acquisition value will likely be glad by US$6.275 billion in money and two million shares of AmerisourceBergen Corporation (“ABC”) frequent inventory. As a part of the transaction, ABC and Walgreens Boots Alliance, Inc. will lengthen their present distribution and partnership agreement for a further three years via 2029 and Alliance Healthcare and Boots UK will enter into a brand new unique distribution agreement pursuant to which Alliance Healthcare will proceed to produce merchandise to the Boots retail enterprise within the UK. The transaction is because of full in mid-2021 following regulatory approvals being obtained in Europe and the United States.
The Hogan Lovells workforce was led by company companions Daniel Simons and Peter Watts, senior affiliate Anthony Doolittle [corporate], associate Ed Fishman [regulatory and compliance] and associate Suyong Kim [antitrust]. The transaction intertwined Hogan Lovells groups in China, France, Italy, London, The Netherlands, Spain and the United States throughout quite a lot of apply areas together with antibribery & regulatory compliance, antitrust, company, knowledge safety, employment, worker share schemes, IP, IT, prescription drugs & biotechnology, pensions, actual property and tax.
Commenting on the deal, associate Daniel Simons stated: “It has been a privilege to work with the fantastic AmerisourceBergen team again and a pleasure to work alongside the excellent Cravath team on this groundbreaking transaction. The transaction further demonstrates the breadth and depth of our global practice and showcases our ability as a firm to execute cross-border transactions in highly regulated industries.”