Akin Gump Advises VCA Inc. in FTC Clearance of Acquisition by Mars, Incorporated
(Washington, D.C.) – Mars, Incorporated and VCA Inc. today announced the successful completion of Mars' previously announced acquisition of VCA. On January 9, 2017, Mars and VCA announced that they had entered into an agreement for Mars to acquire VCA for $93 per share in a transaction valued at approximately $9.1 billion. VCA will operate as a distinct and separate business within Mars Petcare, alongside its other veterinary services businesses, BANFIELD® Pet Hospital, BLUEPEARL® and PET PARTNERS™.
The acquisition was reviewed by the Federal Trade Commission (FTC), which cleared the acquisition on August 30, 2017. The FTC clearance followed Mars' agreement to divest 12 specialty or off-hours emergency animal hospitals out of the companies' combined total of over 1,900 locations in the U.S. and Canada. Under the agreement with the FTC, those divestitures are to occur within ten days of today’s closing. Mars and VCA have agreements in place with three well-respected operators of animal hospitals to purchase the affected hospitals, and the divestitures are expected to be completed shortly.
Akin Gump also advised VCA in its acquisition by Mars; more information on that deal can be found here.
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.
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