Four law firms, including one looking for its own merger partner, have key roles on CVS Health Corp.’s $10.6 billion acquisition of Oak Street Health
Shearman & Sterling; Dechert; and McDermott Will & Emery advised CVS Health on the deal. Kirkland & Ellis, which topped last year’s global league table rankings by deal count, advised Oak Street.
Bloomberg first reported that CVS, a major drugstore operator, and Oak Street, the operator of primary care centers for Medicare recipients, were exploring a deal in early January as a part of CVS’s desire to expand into health care via acquisitions.
New York-founded Shearman has reportedly been in talks with Hogan Lovells about combining the two law firms.
M&A partners Dan Litowitz and Derrick Lott led the Shearman team in the deal. Capital markets partner Lona Nallengara, compensation, governance and ERISA partner Doreen Lilienfeld, and senior M&A associate Kyle Park also worked on the transaction.
This isn’t the first time that CVS turned to Shearman. The firm represented CVS Health in its $68 billion merger with insurer Aetna Inc. that was completed in 2018 and is one of the largest healthcare mergers in US history.
Corporate partners David Klein, Daniel Wolf, and Josh Ayal led the Kirkland team. Executive compensation partners Stephen Jacobson and Stephanie Jeane,...
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