Freshfields Bruckhaus Deringer has landed its first M&A transaction for Reckitt Benckiser, the household and personal care group.
The magic circle firm, led by corporate partner Mark Rawlinson, advised Reckitt on the successful acquisition of Boots Healthcare International (BHI) for £1.9bn in cash.
Rival bidders for BHI included Novartis and GlaxoSmithKline.
Boots plans to return the lion’s share of the proceeds of the sale to its shareholders as part of its £7bn merger with Alliance UniChem.
Commenting on the deal Rawlinson said: “This was our first major piece of work for Reckitt and it was key that we worked closely with the general counsel, Christopher Roberts, and the rest of the Reckitt team deal team.”
“It was a very competitive auction with a tight finish, so it was great to get across the line first,” he added.
Slaughter and May advised regular client Boots.