3 companies lead Covetrus’ $4 billion animal health privatization deal

By Charlie Innis (May 25, 2022, 5:02 p.m. EDT) — Veterinary technology and services provider Covetrus said it plans to be acquired by private equity firms Clayton Dubilier & Rice and TPG Capital for about $4 billion dollars and go private, in a deal advised by three law firms.

Covetrus is represented by Weil Gotshal & Manges LLP, while Debevoise & Plimpton LLP and Ropes & Gray LLP provide legal advice to CD&R and TPG Capital.

The deal calls for funds affiliated with CD&R and TPG Capital to purchase all outstanding shares of Covetrus common stock that they do not already own for $21 per share in cash, according to the announcement….

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