December 04, 2017
A Weil team advised Barclays, Goldman Sachs and Bank of America Merrill Lynch in providing $49 billion of financing commitments to CVS Health, a pharmacy innovation company, to finance its acquisition of Aetna, one of the leading diversified healthcare benefits companies in the United States. The transaction announced on December 3, 2017.
The Weil team was led by Banking & Finance partner Morgan Bale, and included Banking & Finance partner Heather Viets; Capital Markets partner Faiza Rahman; M&A partner Michael Lubowitz; Environmental partner Annemargaret Connolly (Washington, D.C.); Cybersecurity, Data Privacy & Information Management partner Randi Singer; Litigation partners Eric Hochstadt and John Mastando; Tax partner William Horton; Environmental counsel John O’Loughlin (Washington, D.C.); Litigation counsel Adam Safwat (Washington, D.C.); Banking & Finance associates Steven LePorin and Nick Nikic; Capital Markets associates Daniel Evens, Ashley Butler, Evan Mendelsohn and Joshua Van Kirk (not yet admitted to practice); M&A associate Hayden Guthrie; Insurance associate Gabriel Gershowitz; Regulatory associate Timothy Welch (Washington, D.C.); Cybersecurity, Data Privacy & Information Management associate Elisabeth Sperle; Litigation associates Carl Duffield (Washington, D.C.), Lauren Jacobson and Nigar Shaikh; and Tax associate Liam Murphy (all in New York unless otherwise specified).
This transaction is the latest in a series of high profile investment grade acquisition financings Weil has been involved in this year. Other recent matters include representing:
- Morgan Stanley in connection with the financing for Assurant, Inc., a global leader in risk management solutions, to support its $2.5 billion acquisition of The Warranty Group, a global provider of warranty solutions and related benefits, from TPG Capital.
- Goldman Sachs and Bank of America Merrill Lynch, as joint lead arrangers and joint bookrunners, in a $13.7 billion committed unsecured bridge facility to finance Amazon’s acquisition of Whole Foods Market.
- Morgan Stanley as sole lead arranger and sole lead bookrunner in a $4.5 billion committed bridge facility, and as lead arranger and bookrunner in $3.3 billion term and revolving facilities, and Morgan Stanley, J.P. Morgan and Bank of America Merrill Lynch as representatives of the underwriters in a $2.75 billion senior notes offering by Tyson Foods, Inc. to finance its $4.2 billion merger with AdvancePierre Foods Holdings, Inc., a producer and distributor of ready-to-eat sandwiches, sandwich components and other entrées and snacks.
- Citi, as sole lead arranger and sole lead bookrunner in a $15.7 billion committed bridge facility, and as lead arranger and bookrunner in $4.5 billion term and revolving working capital facilities, for Becton, Dickinson and Company (BD), a medical technology company, to support BD's pending $24 billion acquisition of C. R. Bard Inc., a medical equipment maker specializing in the manufacture of vascular, urology, oncology, and surgical specialty products.