AmerisourceBergen’s $6.5 Billion Acquisition of Alliance Healthcare Businesses from Walgreens Boots Alliance

On January 6, 2021, AmerisourceBergen Corporation and Walgreens Boots Alliance, Inc. announced strategic agreements under which AmerisourceBergen will acquire the majority of Walgreens Boots Alliance’s Alliance Healthcare businesses for approximately $6.5 billion, comprised of $6.275 billion in cash and 2 million shares of AmerisourceBergen common stock. In addition, the companies have agreed to extend and expand their commercial agreements through 2029 to drive incremental growth. Cravath is representing AmerisourceBergen in connection with the transaction.

The Cravath team includes senior attorney Brittain A. Rogers and associates Kelly M. Smercina, Jin-Kyu Baek and Arash Ardalan on M&A matters; partners Andrew J. Pitts and Stephen M. Kessing, senior attorney Sarah F. Rosen and associates Fay E. Krewer and Maria Ricaurte on financing matters; partners Lauren Angelilli and J. Leonard Teti II, senior attorney Kiran Sheffrin and associate Rebecca L. Fine on tax matters; partner Christine A. Varney on regulatory matters; partner David J. Kappos and practice area attorney Anthony N. Magistrale on intellectual property matters; partner Matthew J. Bobby and associate Dixing Tang on executive compensation and benefits matters; and senior attorney Joyce Law and practice area attorney Brian M. Budnick on real estate matters. Paul A. Bryant also worked on M&A matters, and Gary R. Uter also worked on financing matters.