Deal Watch: Teva's Generics Buy Headlines Banner M&A Week
A bevy of transactions in the pharmaceutical industry and industrial sector in Europe helped make the past week a big one for M&A, with more than a dozen billion-dollar deals being announced.
July 30, 2015 at 12:55 PM
8 minute read
The original version of this story was published on The American Lawyer
A bevy of transactions in the pharmaceutical industry and industrial sector in Europe helped make the past week a big one for M&A, with more than a dozen billion-dollar deals being announced.
Israel's Teva Pharmaceutical Industries Ltd. turned to Sullivan & Cromwell to advise on its $40.5 billion acquisition of the generic drug business of Dublin-based Allergan, represented by Latham & Watkins. As noted by The Am Law Daily earlier this week, the deal effectively pulled the plug on Teva's hostile bid for fellow generic drug maker Mylan NV, which had not fared well.
For the latest megadeal, S&C sidles up to Teva along with Israel's Tulchinsky Stern Marciano Cohen Levitski & Co. Latham & Watkins is taking the lead for Allergan, according to sibling publication The Recorder. Weil, Gotshal & Manges and Cleary Gottlieb Steen & Hamilton are handling antitrust matters for Allergan, while Debevoise & Plimpton has picked up the work representing JPMorgan Chase as financial adviser to the seller on the transaction, which should close by the first quarter of 2016.
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