At first, Horizon Pharma Plc was a wheedling suitor, making several public overtures to buy Newark–based Depomed Inc. starting in June 2015. When the wooing didn’t work as planned, Horizon went hostile, leaving Depomed’s general counsel Matthew Gosling and deputy general counsel K. Amar Murugan to develop a strategy that would fend off a $3 billion dollar takeover bid.
The company adopted a “poison pill” plan to effectively discourage anyone from acquiring more than 10 percent of Depomed stock, a threshold that would allow the owner to call a special shareholder meeting. Depomed also retained a team from Gibson, Dunn & Crutcher to work with in-house counsel on an unusual tactic to keep Horizon at bay.
This content has been archived.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]
