Simpson Thacher is representing the financing providers and JPMorgan as a financial advisor for Warner Chilcott’s acquisition of the global pharmaceuticals business of The Procter & Gamble Company, which was announced on August 24, 2009. Simpson Thacher will advise the banks on the bridge credit facility, or any securities issued instead of that facility, to provide approximately $1.4 billion of the total $3.1 billion purchase price. The acquisition is subject to customary closing conditions and is expected to close by the end of the 2009 calendar year.
The financing providers are JPMorgan Chase Bank, Morgan Stanley Senior Funding, Bank of America, Barclays Bank, Citibank, Credit Suisse and certain of their affiliates.
The Simpson Thacher team includes Art Robinson, John Ericson, Joseph Green and Matt Hanley (Capital Markets); Frank Huck, Justin Lungstrum and Kevin Rubinstein (Credit); Peter Gordon, Robert Spatt, Ryan Gavin and David Cooke (M&A); Noah Leibowitz and Alexander Key (IP); Jason Vollbracht and Andrew Purcell (Tax); Greg Grogan (Executive Compensation & Employee Benefits); Michael Isby (Environment); and Krista McManus and Daniel Molina (Real Estate).