US: Shearman & Sterling advice on CVS US$69b

Shearman & Sterling is advising CVS on its US$69 billion acquisition of Aetna. This industry-transforming transaction is expected to provide more integrated and efficient healthcare services for consumers and health professionals.

Under the terms of the agreement, Aetna shareholders will receive US$207 per share, comprising US$145 in cash and US$62 in CVS stock. Including the assumption of Aetna’s net debt, the total value of the deal is US$77 billion. The deal is subject to approval by CVS Health and Aetna shareholders, regulatory approvals and other customary closing conditions and is expected to close in the second half of 2018. Upon closing, CVS Health shareholders will own approximately 78% of the combined company and Aetna shareholders will own approximately 22%.

The Shearman & Sterling team was led by partners Creighton Condon, Robert Katz, Dan Litowitz, Doreen Lilienfeld, Stephen Giove, Lona Nallengara, Gus Atiyah, Alan Goudiss, Mallory Brennan, Larry Crouch, Ethan Harris and Jordan Altman. The team also included associates Cody Wright, Katie Butler, Christopher Tomlinson, Kaitlin Bruno, Kotoe Oshima, Rupa Briggs, Daniel Yao, Gina Lee, Matthew Weston, Jai Garg, Barbara Zylberg, Arman Naraghi-Pour, Magnus Wieslander, David Selesnick, Ryan Bray and Eric Grosshandler.

Full Content: Shearman & Sterling

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