Litigator of the Week: Brian Lutz of Gibson, Dunn & Crutcher
By going on the offensive for client Depomed, Lutz helped bring an abrupt end to a $1.75 billion hostile takeover bid.
November 24, 2015 at 02:47 PM
4 minute read
Facing a hostile $1.75 billion takeover bid, pharmaceutical company Depomed Inc. turned to Gibson, Dunn & Crutcher. The firm's strategy combined defense and offense, culminating in a courtroom victory for litigator Brian Lutz that forced Horizon Pharma plc to hastily abandon its proposed acquisition.
On Nov. 19, after a six-month acquisition fight, a California state judge in Santa Clara County issued a preliminary injunction blocking Horizon from continuing its efforts to acquire Depomed. Within hours, Horizon issued a statement explaining that it would walk away from the bid.
Horizon made its offer to acquire Depomed in July, presenting the company with an all-stock transaction valued at about $1.75 billion. Depomed retained a Gibson Dunn team led by Lutz, a 39-year-old partner based in San Francisco and New York, and by corporate partners Eduardo Gallardo and Ryan Murr. The trio organized a multi-pronged response to neutralize Horizon's bid, coordinating between the corporate and litigation teams, Lutz told us on Tuesday.
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