Freshminds Talent are delighted to welcome Daniel - an Analyst at Greenhill who joined their graduate scheme in 2012 - as a guest blogger this week, discussing the experience he has gained during his first year at Greenhill:
"Actavis, a new client to Greenhill, announced its acquisition of Warner Chilcott for $8.5bn earlier this year. The deal is one of the largest healthcare M&A transactions in 2013 and involved a great deal of public speculation regarding Actavis and other pharmaceutical companies such as Mylan and Valeant.
I joined Greenhill in 2012 as a graduate analyst and began working on healthcare assignments when Rupert Hill joined the firm as a managing director in late 2012. Since Rupert joined I have been fortunate enough to work on a number of high profile projects in the pharmaceutical sector. We tend to work in very small teams, often consisting of just Rupert, an associate and myself.
In April 2013, rumours emerged that Valeant was holding merger talks with Actavis. We began advising Actavis and over the course of three extremely busy weeks both Valeant and Mylan made offers for Actavis, and Actavis ultimately announced its own acquisition of Warner Chilcott.
Advising on the acquisition of an Irish domiciled company for a US based client meant working closely with our New York office putting together materials for Actavis’ board of directors. As well as advising the client on the acquisition, we put together a public fairness opinion which involved performing a thorough analysis of Warner Chilcott including a very detailed and comprehensive valuation to determine whether the offer price was fair.
Once the fundamentals of the transaction were agreed, our team worked closely with lawyers and the other financial advisers to prepare and submit the necessary documentation to comply with the Irish Takeover Code.
While juggling multiple time zones could at times be challenging, I was very fortunate to have worked on such a large and high profile transaction in my first year at Greenhill. It was very exciting working as part of a small team and gaining significant exposure to both senior advisors and management. Both the level of responsibility and exposure I gained would be very unusual for analysts at other firms."