Akin Gump Advises VCA Inc. in Acquisition by Mars, Incorporated
Contact:
(Los Angeles) – Mars, Incorporated and VCA Inc., a leading provider of pet health care services in the United States, announced that they have entered an agreement under which Mars will acquire all of the outstanding shares of VCA for $93 per share, or a total value of approximately $9.1 billion including $1.4 billion in outstanding debt. The transaction price represents a premium of approximately 41 percent over VCA’s 30-day volume weighted average price on January 6, and a premium of approximately 31 percent over VCA’s closing price on January 6. Akin Gump advised VCA in the matter, which has been unanimously approved by the boards of directors of both companies. It is expected to close in the third quarter of 2017.
As part of the transaction, VCA will join Mars Petcare, one of the world’s leading pet care providers.
C.N. Franklin Reddick III, a partner in Akin Gump’s corporate practice, led the team advising VCA. He was joined by fellow corporate partners J. Kenneth Menges Jr. and Carlos Bermudez, counsel John Holland, Sean Gurgle and Michael Miller, and associates Ashton Butcher, Kevin Tsai, Lech Wilkiewicz and Alex Poor. Antitrust work was handled by partners Paul Hewitt, Corey Roush and Davina Garrod. Lawyers from the firm’s employee benefits, environmental, real estate and tax practices also played a role.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
# # #