June 28, 2018
A Weil team is advising Goldman Sachs in providing $9 billion committed bridge financing to Conagra Brands, Inc., one of North America's leading branded food companies, to finance its $10.9 billion acquisition of Pinnacle Foods Inc., a leading manufacturer, marketer and distributor of high-quality branded food products. The transaction was announced on June 27, 2018, and is expected to close by the end of calendar year 2018, subject to customary closing conditions.
The Weil team advising Goldman Sachs is led by Banking & Finance partner Morgan Bale, and includes Capital Markets partner Michael Hickey; Mergers & Acquisitions partner Raymond Gietz; Banking & Finance partner Heather Viets; Environmental partner Annemargaret Connolly; Environmental counsel Thomas Goslin; Regulatory counsel John O’Loughlin; Banking & Finance associates Charles Driscoll and Vaishali Mahna; Capital Markets associates Michael Stein and Kaitlyn Reid; Mergers & Acquisitions associate Rob Cohen; Regulatory associate Timothy Welch; and summer associates Claudia Stantzyk-Guzek and Sarah Gohary.
This transaction is the latest in a series of high-profile investment grade acquisition financings Weil has been involved in over the past year. Other recent matters include representing:
- Goldman Sachs and Morgan Stanley in providing committed bridge financing for the pending $6 billion merger of CenterPoint Energy, Inc. and Vectren Corporation.
- J.P. Morgan, Bank of America Merrill Lynch and Goldman Sachs in providing committed debt financing for the pending $18.7 billion merger of Keurig Green Mountain, Inc. and Dr Pepper Snapple Group, Inc.
- Goldman Sachs in an up to $9 billion bridge facility for a new “Fox,” an entity comprising highly-rated news, sports and broadcast businesses to be spun off by Twenty-First Century Fox, Inc. to its shareholders.
- Barclays, Goldman Sachs and Bank of America Merrill Lynch in $49 billion committed facilities to finance in part CVS Health Corporation’s pending $77 billion acquisition of Aetna Inc.
- Morgan Stanley in connection with the financing for Assurant, Inc. to support its $2.5 billion acquisition of The Warranty Group from TPG Capital.
- Goldman Sachs and Bank of America Merrill Lynch in a $13.7 billion committed unsecured bridge facility to finance Amazon’s acquisition of Whole Foods Market.