Mergers & Acquisitions
- Learn More
Our M&A lawyers are among the most experienced and effective in the world. We represent many of the world's largest publicly traded and privately held companies, as well as leading private equity firms, financial advisors and other financial institutions and investors on their most important mergers, acquisitions and takeover transactions.
Walgreens to Acquire Duane Reade Drugstore Chain for $1.075 Billion
- Client News
- February 18, 2010
As reported in The New York Times, The Wall Street Journal, DealBook, Bloomberg and The Deal, Walgreen Co. and Duane Reade Holdings, Inc. announced an agreement under which Walgreens will acquire the New York-based drugstore chain from affiliates of Paul, Weiss client Oak Hill Capital Partners in a cash transaction for a total enterprise value of $1.075 billion, which includes assumption of debt. The transaction would include all 257 Duane Reade stores located in the New York City metropolitan area, as well as the corporate office and two distribution centers. It is expected that Duane Reade will continue to operate under its brand name after the transaction closes.
The Paul, Weiss team representing Oak Hill includes corporate partners Ariel Deckelbaum, Eric Goodison, Marco Masotti, Bob Schumer and Larry Wee, associates Tara Doolan, Danielle Gaier, Stanislav Grigoryev, Zhiping Liu, Liza Montesano, Daniel Mun, Nathan Pusey, Alykhan Sunderji, Lindsey Wiersma, Justin M Winegar and Karina Yamada, and foreign lawyer Andres Nieto; employee benefits partners Rob Fleder and Larry Witdorchic, and associates Paul Koppel, Verity Rees and Michelle Zimmerman; environmental counsel Bill O'Brien; intellectual property associates Zoe Hilden and Lindsay Silber; real estate partners Mitch Berg and Peter Fisch, and associate Julia Milne; tax partner David Sicular and associate David Levine; antitrust partner Joe Simons, counsel Didier Malaquin and associate Danielle Clark; and litigation partner Dan Beller and associate Jonathan Freedman. Assistance was provided by corporate paralegals Richard Scudder and Brooke Spiegel.