Bolstered by the strength of the Japanese yen compared to the U.S. dollar, Shionogi & Co. this week secured a deal to acquire Sciele Pharma Inc. of Atlanta.
Sciele tapped its longtime outside counsel in Atlanta, Paul, Hastings, Janofsky & Walker partner W. Tinley Anderson III, for advice on the buyout agreement. Shionogi agreed to purchase Sciele for $1.42 billion. That includes a $1.1 billion cash tender offer and $325 million to redeem a bond convertible into shares of Sciele. Shares of Sciele rose about 59 percent on Tuesday, the first day of trading after the announcement.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
