Simpson Thacher is representing an investor group led by KKR in connection with its proposed acquisition of PharMerica Corporation (NYSE: PMC) in a transaction valued at approximately $1.4 billion. Pursuant to the merger agreement, a newly formed company controlled by KKR, with Walgreens Boots Alliance, Inc. (NASDAQ: WBA) as a minority investor, will acquire PharMerica. PharMerica shareholders will receive $29.25 in cash for each share of PharMerica common stock upon closing of the proposed transaction.
PharMerica Corporation is a leading provider of pharmacy services. PharMerica serves the long-term care, hospital pharmacy management services, specialty home infusion and oncology pharmacy markets.
The Simpson Thacher team includes Mark Pflug, Ravi Purushotham, Johanna Mayer, Scott Rudin and Robert LiCalzi (M&A); Lauren Sullivan (Credit); David Rubinsky, Patricia Adams and Monisha Bhayana (Employee Benefits and Executive Compensation); Sophie A. Staples and Jasmine Hay (Tax); Peter Guryan and Richard Jamogchian (Antitrust); and Linda Nyberg (Intellectual Property).