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STB is representing Kohlberg Kravis Roberts & Co. and Stefano Pessina in connection with the acquisition of Alliance Boots plc. Stefano Pessina is the current deputy chairman of the company and, with an approximate 15% stake, is the largest shareholder. KKR and Pessina are offering £10.90 per share, representing an equity valuation of £10.6 billion ($21.2 billion). If consummated, the transaction would be the largest-ever European buyout transaction based on value and the first ever take-private of a FTSE 100 company.

Alliance Boots is an international pharmacy-led health and beauty group with a leading European retail pharmacy business comprising approximately 3,100 retail outlets and a leading European distributor with a wholesale network of around 380 depots serving over 120,000 outlets. The closing of the transaction is subject to satisfaction of regulatory conditions and other customary conditions.

STB lawyers working on the transaction include Mark Pflug, Tom Wedeles, Jenny Marsh (M&A), Tony Keal, Helen Neish (Credit), Steve Todrys, Meredith Jones and Jen Marsh (Tax), David Vann, Jonathan Parker, Alastair Mackay (Antitrust). Former associate Julia Luebke (M&A) also provided valuable assistance.