Altaris Capital Partners’ $1.55 Billion Acquisition of Prescription Rx Business from Perrigo

Altaris Capital Partners' $1.55 Billion Acquisition of Prescription Rx Business from Perrigo

Cleary Gottlieb Steen & Hamilton LLP, Schiff Hardin LLP and Yigal Arnon & Co. represented Altaris Capital Partners in the transaction, while Wachtell, Lipton, Rosen & Katz represented Perrigo.

Altaris Capital Partners has reached a definitive agreement to acquire Perrigo’s (NYSE; TASE: PRGO) prescription pharmaceuticals business for total consideration of $1.55 billion.

The transaction is subject to customary closing conditions and is expected to close by the end of the third quarter.

Perrigo Company plc (NYSE; TASE: PRGO) is a leading provider of Quality, Affordable Self-Care Products and over-the-counter (OTC) health and wellness solutions that enhance individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed.

Altaris Capital Partners, LLC is an investment firm focused exclusively on the healthcare industry. Actively managing $5.2 billion of equity capital, Altaris invests in businesses that deliver value to the healthcare system by improving patient outcomes, reducing costs, increasing efficiency and aligning stakeholder incentives.

Centerview served as financial advisor to Perrigo. J.P. Morgan is serving as lead financial advisor and Lead Left Arranger and Goldman Sachs & Co. is serving as financial advisor and Arranger to Altaris Capital.

Cleary Gottlieb advised Altaris on antitrust matters in connection with the transaction with a team including antitrust partner Ken Reinker (Picture), counsel Kathy Bradish, and associate Gabriel Lazarus in Washington, D.C. and M&A partner Kimberly Spoerri in New York.

The Schiff Hardin LLP team included Derek Barella, Lauralyn G. Bengel, Turner J. Binkley, Olga Bogush, Chris L. Bollinger, Kaitlin Riley Duran, Christine Wilson Feller, Christine Wilson Feller, Lawrence H. Heftman, Steve E. Isaacs, Ben Leese, Henry Lee Mann, Joshua R. More, Kevin M. Nelson, Sailesh K. Patel, Rachel A. Remke, David S. Sattelberger, Katherine S. Walton, Michael P. Wissa, Jin Yan, Alexander B. Young
Partner and Jason L. Zgliniec.

The Yigal Arnon & Co. team consisted of Advs. Barry Levenfeld, together with Ben Sandler and David Roness with the assistance of Daniel Green, Ofir Levy, Shira Lahat, Shani Rapoport, Asaf Eylon, Tamar Tavory, Miriam Friedmann, Chaim Cohen, Hadar Stein, Nir Kamhi, Tali Har-Oz, Shalhevet Hetli, Lihi Katzenelson, Roni Osborne, Adi Daniel Zamir, Guy Fatal, Hadil Nassif and interns Tani Sterman, Michael Portman and Alon Shemesh.

Wachtell, Lipton, Rosen & Katz advised Perrigo with a team led by partners Igor Kirman, Victor Goldfeld, and Eric M. Feinstein.

Involved fees earner: Kathleen Bradish – Cleary Gottlieb Steen & Hamilton; Gabriel Lazarus – Cleary Gottlieb Steen & Hamilton; Kenneth Reinker – Cleary Gottlieb Steen & Hamilton; Kimberly Spoerri – Cleary Gottlieb Steen & Hamilton; Derek Barella – Schiff Hardin LLP; Lauralyn Bengel – Schiff Hardin LLP; Turner Binkley – Schiff Hardin LLP; Olga Bogush – Schiff Hardin LLP; Chris Bollinger – Schiff Hardin LLP; Alex Garel-Frantzen – Schiff Hardin LLP; Lawrence Heftman – Schiff Hardin LLP; Steve Isaacs – Schiff Hardin LLP; Henry Lee Mann – Schiff Hardin LLP; Ben Leese – Schiff Hardin LLP; Joshua More – Schiff Hardin LLP; Kevin Nelson – Schiff Hardin LLP; Sailesh Patel – Schiff Hardin LLP; Rachel Remke – Schiff Hardin LLP; Kaitlin Riley Duran – Schiff Hardin LLP; David Sattelberger – Schiff Hardin LLP; Katherine Walton – Schiff Hardin LLP; Christine Wilson Feller – Schiff Hardin LLP; Michael Wissa – Schiff Hardin LLP; Jin Yan – Schiff Hardin LLP; Alexander Young – Schiff Hardin LLP; Jason Zgliniec – Schiff Hardin LLP; Eric Feinstein – Wachtell, Lipton, Rosen & Katz; Victor Goldfeld – Wachtell, Lipton, Rosen & Katz; Igor Kirman – Wachtell, Lipton, Rosen & Katz; Chaim Cohen – Yigal Arnon & Co; Asaf Eylon – Yigal Arnon & Co; Guy Fatal – Yigal Arnon & Co; Miriam Friedmann – Yigal Arnon & Co; Daniel Green – Yigal Arnon & Co; Tali Har-Oz – Yigal Arnon & Co; Shalhevet Hetli – Yigal Arnon & Co; Nir Kamhi – Yigal Arnon & Co; Lihi Katzenelson – Yigal Arnon & Co; Shira Lahat – Yigal Arnon & Co; Barry Levenfeld – Yigal Arnon & Co; Ofir Levy – Yigal Arnon & Co; Hadil Nassif Khawand – Yigal Arnon & Co; Roni Osborne – Yigal Arnon & Co; Shani Rapoport – Yigal Arnon & Co; David Roness – Yigal Arnon & Co; Benjamin Sandler – Yigal Arnon & Co; Hadar Stein – Yigal Arnon & Co; Tamar Tavory – Yigal Arnon & Co; Adi Daniel Zamir – Yigal Arnon & Co;

Law Firms: Cleary Gottlieb Steen & Hamilton; Schiff Hardin LLP; Wachtell, Lipton, Rosen & Katz; Yigal Arnon & Co;

Clients: Altaris Capital Partners; Perrigo Company plc;

Martina Bellini

Author: Martina Bellini