AmerisourceBergen’s $2.5 Billion Acquisition of MWI Veterinary Supply

On January 12, 2015, AmerisourceBergen and MWI Veterinary Supply,  Inc. announced that they have entered into a definitive merger agreement for AmerisourceBergen to acquire MWI Veterinary Supply (MWI), the leading animal health distribution company in the United States. Under the terms and conditions of the merger agreement, AmerisourceBergen, through a new wholly owned subsidiary, will make an all‑cash tender offer for all of the outstanding shares of MWI at a price of $190.00 per share, representing a $2.5 billion fully diluted equity value. Cravath represented AmerisourceBergen in connection with this transaction, which is expected to close during the March quarter of 2015.

The Cravath team was led by partner Robert I. Townsend III and included associate Daniel J. Cerqueira on M&A matters; partners Andrew J. Pitts and Stephen M. Kessing and associate Michael D. Baird on financing matters; associate Matthew J. Bobby on executive compensation and benefits matters; partner J.  Leonard Teti II on tax matters; and partner Matthew Morreale on environmental matters. Adam J. Gross also worked on M&A matters. Mathew J. Saur and Alex M. Dzioba also worked on financing matters and Richard Bohm also worked on tax matters.