International law firm Bird & Bird is advising Nucare plc, on a recommended cash offer by Phoenix Medical Supplies Limited. The deal, announced on 11th October 2007, sees Phoenix offering Nucare shareholders 39.543 pence per share, valuing Nucare at £49 million.
Nucare is an independent pharmacies group which owns 35 retail pharmacies and, through its Nucare Services division, provides purchasing, marketing and support services to independent pharmacists. Nucare became a Bird & Bird client in early 2007 when the firm successfully won a beauty parade for the role of acting as legal adviser to the board of Nucare on its plans for maximising shareholder value. A number of options were under consideration by Nucare, including a possible flotation on AIM and Bird & Bird was retained by Nucare for its experience and expertise in this field, as well as in public M&A.
Since its appointment, Bird & Bird has advised Nucare on a number of small corporate transactions intended to streamline the business, culminating in the recommended offer from Phoenix. Corporate partner, Simon Allport headed the Bird & Bird team assisted by corporate associate, Helen Down.
Phoenix Medical Supplies is being advised by George Davies Solicitors LLP.
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About Bird & Bird
Bird & Bird is a full service international commercial law firm with an in-depth knowledge of chosen industry sectors. We focus on aviation & aerospace, communications, banking & financial services, e-commerce, information technology, life sciences, media and sport.
With offices in Beijing, Brussels, Düsseldorf, Frankfurt, The Hague, Hong Kong, London, Lyon, Madrid, Milan, Munich, Paris, Rome and Stockholm, we offer our clients local expertise within a global context, helping them to realise their business goals both domestically and internationally.
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