Kirkland & Ellis and Dechert have scored the lead legal advisory roles on a deal under which pharmaceutical giant Bristol-Myers Squibb Company will pay $2.5 billion to acquire Inhibitex, Inc., which specializes in creating drugs for the treatment and prevention of infectious diseases.
Terms of the all-cash deal, which the companies announced late Saturday, call for Bristol to pay $26 per share for Inhibitex-a premium of more than 160 percent premium over the Alpharetta, Georgia-based company’s $9.87 closing price on Friday.
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