Kirkland & Ellis, Latham & Watkins, and Davis Polk & Wardwell are key players in the legal advisory team for the significant leveraged buyout (LBO) of Walgreens Boots Alliance by Sycamore Partners, valued at approximately $23.7 billion. This transaction stands out as the largest LBO of 2025 so far, and is recognized by Latham as the third-largest healthcare LBO in the U.S. and Europe in history. The involvement of these prominent law firms highlights the scale and complexity of the deal, which requires coordination among more than 80 law firm partners.
The acquisition involves the sale of a 17% stake by Executive Chairman Stefano Pessina. The completion of the acquisition awaits customary closing conditions and shareholder approval, and is projected to finalize by the fourth quarter of 2025. More information on the advisory roles and the intricacies of the deal can be accessed here.