Panasonic Healthcare Holdings Co., Ltd. agreed to acquire Diabetes Care Business from Bayer AG (DB:BAYN) for €1 billion on June 8, 2015. Post-closing Diabetes Care Business will operate as Ascensia Diabetes Care LLC. Closing of the transaction is subject to customary conditions, including relevant antitrust clearance, and is expected to occur in the first quarter of 2016. As of November 24, 2015, The European Commission (EC) approved the deal.

David Sneider, Noritaka Kumamoto, Sayo Takizawa, Shannon Itoyama, Yui Hirohashi, Deborah Gruen, Lori Lesser, Genevieve Dorment, Michelle Morad, Tristan Brown, Linda Barrett, Brittany McCants, Leah Segall, Christopher Bell, Makiko Harunari, Preeta Paragash, Yutaka Adachi, Katharine Moir, Jason Vollbracht, Noah Metz, Adeeb Fadil, Noreen Lavan, David Vann and Étienne Renaudeau of Simpson Thacher & Bartlett LLP acted as legal advisors to Panasonic Healthcare Holdings Co., Ltd. Matthias Hentzen, Christian Wentrup, Christian Möller, Changfeng Tu, Vera Jungkind, Hendrik Bockenheimer, Patrick Wilkening, Björn Bork, Frederik Gärtner and Peter Wehner of Hengeler Mueller acted as legal advisor for Bayer. Merrill Lynch Japan Securities Co., Ltd. acted as financial advisor for Panasonic. Mitsubishi UFJ Morgan Stanley Securities acted as the financial advisor for Panasonic Healthcare. Jan Bauer, Jan Balssen, Michael Burian, Johannes Schrägle, Michael Ilter, Anton Gordon, Stefan Mayer, Melanie Nadler, Ocka Stumm, Gerhard Röder, Jens Günther, Charlotte Beck, Muriel Kaufmann, Christian Hamann, Alexander Molle, Hannah Bug, Frank Schlobach and Marco König of Gleiss Lutz acted as legal advisor for KKR, parent of Panasonic Healthcare Holdings. Roschier Holmberg & Waselius acted as legal advisor for Panasonic Healthcare Holdings. Ernst & Young acted as due diligence & financial advisor for Bayer AG. Evgeny Zelensky, Vladimir Melnikov, Emma Roshler, Benjamin Ward, Ignacio Paz, Artjom Buligin, Hubert Segain, Julian Pollock, Paul Scarr, Timothy Leaver, Alison Brown, Regis Oreal, Eduardo Gomez de Enterria, Elena Ivanova, Arina Fot and Evgeny Yuriev of Herbert Smith Freehills CIS LLP acted as legal advisor for Diabetes Care Business. Marilyn Mooney, Richard Fogl, Ava Yaskiel, Lynn Yang, Karine Montagut, Elena Tsohou, Jon Perry, Nicolo Juvara, Saskia Blokland, Piotr Strawa, Valentina Gluhovskaya, Sheela Moorthy, Charles Ancer, Somboon Kitiyansub, Attilio Pavone, John Boehm and Ian Lopez of Norton Rose acted as legal advisor for Bayer. Darshika Kothari, Cristina Gabardi, Nandan Pendsey, Sugandha Asthana, Zubin Mehta and Rina Goyal of AZB & Partners acted as legal advisors to Panasonic Healthcare. Creel García-Cuéllar Aiza y Enriquez and Wolf Theiss acted as legal advisor for Panasonic Healthcare. Federico Torzo, Chiara Andreotti, Claudia Bruscaglioni and Caterina Marra of Macchi di Cellere Gangemi acted as legal advisors in the deal. Xavier Mercade & MCarmen Andreu of BAKER TILLY GDA CF acted as accountant to ASCENSIA DIABETES CARE HOLDINGS AG

Panasonic Healthcare Holdings Co., Ltd. completed the acquisition of Diabetes Care Business from Bayer AG (DB:BAYN) on January 5, 2016.