On July 21, 2011, Express Scripts, Inc. and Medco Health Solutions, Inc. announced that they have entered into a definitive merger agreement under which Medco will be acquired by Express Scripts, one of the largest pharmacy benefit management companies in North America, in a transaction valued at $29.1 billion. Cravath represented Credit Suisse and Citigroup Global Markets, Inc., lead arrangers of $14 billion in committed financing to Express Scripts to support its cash and stock acquisition of Medco.
The Cravath team included partners Michael S. Goldman and William J. Whelan III and associates Joseph D. Zavaglia, Todd D.C. Anderman, Jane A. Okpala, Adam Cohen and David S. Mitchell.