Dechert Advises MWI on US$2.5 Billion Sale to AmerisourceBergen
January 12, 2015
AmerisourceBergen (NYSE:ABC) and MWI Veterinary Supply, Inc. (NASDAQ:MWIV) today announced that they have entered into a definitive merger agreement for AmerisourceBergen to acquire MWI Veterinary Supply (MWI), the leading animal health distribution company in the United States. A team from Dechert LLP is advising MWIV on this matter. Under the terms and conditions of the merger agreement, AmerisourceBergen, through a new wholly-owned subsidiary, will make an all cash tender offer for all of the outstanding shares of MWI at a price of US$190.00 per share, representing a US$2.5 billion fully diluted equity value. The full press release is available here.
The Philadelphia-based deal team advising MWIV is led by partner Stephen Leitzell and includes Gregory Schernecke and Cody Cowper (Corporate), Eric Rubin (Employee Benefits), Edward Lemanowicz (Tax), Abbi Cohen (Environmental). Also working on the matter are Sean Porter (New York – Real Estate), James Fishkin (Washington-Antitrust), and Violetta Kokolus (New York-Intellectual Property).
Dechert has represented MWI Veterinary Supply on a number of transactions and other matters since 2005, including advising on its US$73.6 million initial public offering, subsequent secondary offerings, US$47 million acquisition of UK-based Centaur Services Limited, US$60 million purchase of the assets of Micro Beef Technologies, Ltd. and US$67.5 million purchase of the assets of IVESCO Holdings LLC.
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