AmerisourceBergen’s $2.575 Billion Acquisition of PharMEDium

On October 6, 2015, AmerisourceBergen announced that it has signed a definitive agreement to purchase PharMEDium Healthcare Holdings, Inc., the privately held leading national provider of outsourced compounded sterile preparations to acute care hospitals in the United States, from Clayton, Dubilier & Rice for $2.575 billion in cash, subject to certain adjustments and on a cash‑free, debt‑free basis. Cravath represented AmerisourceBergen in connection with this transaction.

The Cravath team was led by partner Robert I. Townsend III and included associates Eric M. Wasserstrum and Matthew J. Aldana and foreign associate attorney Tomas E. Di Cio on M&A matters; partner J. Leonard Teti II and associate Tara L. Rhoades on tax matters; partner Eric W. Hilfers and associate Matthew Cantor on executive compensation and benefits matters; partner Matthew Morreale on environmental matters; and partner David J. Kappos and practice area attorney Anthony N. Magistrale on intellectual property matters. Brian B. Kennedy also worked on executive compensation and benefits matters.