Clifford Chance, Ropes and Skadden take roles on Pfizer's $17bn Hospira takeover
Pharmaceutical giant turns to Clifford Chances and Ropes & Gray for deal to boost its product portfolio
February 06, 2015 at 06:19 AM
2 minute read
Clifford Chance, Ropes & Gray and Skadden Arps Slate Meagher & Flom have been called up as advisers for Pfizer's $17bn (£11bn) acquisition of injectable drugmaker Hospira.
The pharmaceutical giant announced yesterday that its offer of $90 (£59) a share had been unanimously approved by the boards of both companies.
Pfizer will finance two thirds of the transaction from its existing cash and one third through new debt.
Clifford Chance's team acting for Pfizer on international regulatory matters is being led by competition partner Tony Reeves in Brussels, with support from competition counsels Frances Dethmers and Heleen Engelen.
Ropes & Gray is also advising Pfizer on the transaction, with a team headed by securities and public companies partners Marko Zatylny and Paul Kinsella.
Skadden is acting for Hospira on the deal.
The firm has been a regular advisor to Pfizer in the past, acting on mandates including the initial public offering (IPO) of Pfizer's former animal health business Zoetis in 2013 and on its bid to acquire the UK's AstraZeneca last year.
The Hospira takeover is expected to close in the second half of 2015.
Pfizer turned to DLA Piper and Cobbetts in 2012 when it sold off its UK research and development site in Kent to a private consortium.
Meanwhile, UK furniture retailer DFS announced today it is planning an IPO on the London Stock Exchange. It has handed the lead adviser role to Weil Gotshal & Manges.
The Weil team is being led by corporate partners Peter King and Jonathan Wood, with assistance from corporate associates Tomasz Rodzoch, Simon Saitowitz and Clementine Dowley.
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