Weil Gotshal and Skadden lead on $1.9bn Sanofi-Aventis buyout
Weil Gotshal & Manges and Skadden Arps Slate Meagher & Flom have taken lead roles on Sanofi-Aventis's $1.9bn (£1.2bn) purchase of consumer care products company Chattem, reports The Am Law Daily. The acquisition, set to create the fifth-largest consumer products company in the world, will give the French pharmaceutical company a toehold in the over-the-counter drugs market.
December 22, 2009 at 06:54 AM
2 minute read
Weil Gotshal & Manges and Skadden Arps Slate Meagher & Flom have taken lead roles on Sanofi-Aventis's $1.9bn (£1.2bn) purchase of consumer care products company Chattem, reports The Am Law Daily.
The acquisition, set to create the fifth-largest consumer products company in the world, will give the French pharmaceutical company a toehold in the over-the-counter drugs market.
Weil partner Michael Aiello advised Sanofi. Aiello and his team are also currently representing Abbott Laboratories on its $123m (£77m) bid for StarLIMS Technologies and Apollo Global Management's $635m (£397m) bid for Cedar Fair.
"Sometimes the perfect storm hits," Aiello said. "But it's always good to be busy."
Skadden is advising Chattem, with a team co-led by M&A partners Stephen Arcano and Richard Grossman, assisted by benefits partner Stuart Alperin and corporate partner Gregory Fernicola.
The elite US firm is working alongside Miller & Martin, a long-term adviser of Chattem.
"It's a good deal for both parties," said Miller lead counsel Hugh Sharber. "This one just made too much sense for us to screw up."
The Am Law Daily is the website of The American Lawyer, Legal Week's US sister title.
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