PharMerica Sold for $1.4 Billion

August 2, 2017

Cleary Gottlieb is representing BofA Merrill Lynch as financial advisor to PharMerica Corporation in connection with the sale of PharMerica to an entity formed by KKR & Co. L.P. and Walgreens Boots Alliance, Inc.

The transaction was announced on August 2, 2017.

Under the terms of the agreement, PharMerica shareholders will receive $29.25 in cash for each share of PharMerica common stock. The transaction is valued at approximately $1.4 billion, including the assumption or repayment of debt.

PharMerica Corporation is a leading provider of pharmacy services in the U.S., with 96 institutional pharmacies, 20 specialty home infusion pharmacies and five specialty oncology pharmacies in 45 states.

The transaction is anticipated to close by early 2018, subject to stockholder and regulatory approvals and other customary closing conditions.