Legal DealFolio - Financing for Actavis plc Acquisition of Allergan, Inc.

On November 17, 2014, Actavis plc and Allergan, Inc. announced that they have entered into a definitive agreement under which Actavis will acquire Allergan for USD219 per Allergan share, in a transaction valued at approximately USD66 billion. Cravath represented JPMorgan, Mizuho and Wells Fargo, as lead arrangers, in connection with a USD36.4 billion bridge credit facility and new and replacement term and revolving credit facilities in excess of USD5 billion in the aggregate. The cash portion of the acquisition consideration is expected to be financed with a combination of new term credit facilities and offerings of new senior unsecured notes and equity of Actavis plc and its subsidiaries. The transaction is subject to the approval of the shareholders of both companies, as well as customary closing conditions, and is anticipated to close in the second quarter of 2015. The Cravath team included partners James D. Cooper and Tatiana Lapushchik, senior attorney Kimberly A. Grousset and associate A. Rebecca Hurt on banking matters and partner Stephen L. Burns and associate Katerina M. Novak on securities matters. Chase A. M. Proctor also worked on securities matters.

Deal Date:	19-11-2014	Practice Area:	International Finance and Bank Credit
Deal Title:	Financing for Actavis plc Acquisition of Allergan, Inc.	Industry:	Pharmaceuticals & Biotechnology
Description:	On November 17, 2014, Actavis plc and Allergan, Inc. announced that they have entered into a definitive agreement under which Actavis will acquire Allergan for USD219 per Allergan share, in a transaction valued at approximately USD66 billion. Cravath represented JPMorgan, Mizuho and Wells Fargo, as lead arrangers, in connection with a USD36.4 billion bridge credit facility and new and replacement term and revolving credit facilities in excess of USD5 billion in the aggregate. The cash portion of the acquisition consideration is expected to be financed with a combination of new term credit facilities and offerings of new senior unsecured notes and equity of Actavis plc and its subsidiaries. The transaction is subject to the approval of the shareholders of both companies, as well as customary closing conditions, and is anticipated to close in the second quarter of 2015. The Cravath team included partners James D. Cooper and Tatiana Lapushchik, senior attorney Kimberly A. Grousset and associate A. Rebecca Hurt on banking matters and partner Stephen L. Burns and associate Katerina M. Novak on securities matters. Chase A. M. Proctor also worked on securities matters.
Financial Center:	New York	Value:	5000.01-10000.00
Advised Party:	Lender	Law Firm	Cravath
Borrower Jurisdiction:	United States	Lender Jurisdiction:	United States
Classification:	Acquisition Finance Public Company Acquisition	Lawyer	James D Cooper

Practice Areas -

International Finance and Bank Credit Law Firms and Lawyers

Practice Areas - International Finance and Bank Credit Law Firms and Lawyers