Data source: Current Agreements
The M&A scorecard gives an instant overview of the highest value M&A agreements entered into over the specified year of your choice.
Below is a snapshot of the largest deals by value, however Current Agreements stores and categorizes deal data dating as far back as 2000 saving you valuable time on your dealmaking research activities.
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Top M&A deals of 2013 valued at over US$500m.
|Life Technologies, Thermo Fisher Scientific||Apr 2013||13600||Acquisition agreement for Life Technologies|| |
04 December 2013
Thermo Fisher Scientific intends to offer senior notes to fund a portion of its acquisition of Life Technologies Corporation.
26 November 2013
Thermo Fisher Scientific has received approval from the European Commissionfor its pending acquisition of Life Technologies.
Thermo Fisher has committed to divest of its cell culture, gene modulation and magnetic beads businesses.
Combined, these businesses had 2012 revenue of approximately $225 million.
22 August 2013
Life Technologies announced that its stockholders voted to adopt the previously announced merger agreement providing for the acquisition of Life Technologies by Thermo Fisher Scientific at the Special Meeting of Stockholders held earlier today.
More than 98 percent of votes cast at the Special Meeting were in favor of the transaction, representing more than 72 percent of all outstanding shares.
15 April 2013
Thermo Fisher agreed to buy rival Life Technologies for $13.6 billion.
2 April 2013
Thermo Fisher Scientific is emerging as the lead contender in Life Technologies Corp's auction, working on a bid that could value the genetic testing maker at as much as $12 billion.
Thermo Fisher is considering a bid of between $65 and $70 per share for Life Tech and is interested in buying the entire company.
|Actavis (Acquired by Watson), Valeant Pharmaceuticals||Apr 2013||13000||Merger agreement between Valeant and Actavis - proposed|
|Bausch & Lomb, Valeant Pharmaceuticals||May 2013||8700||Acquisition agreement for Bausch & Lomb (completed)|| |
Valeant Pharmaceuticals and Bausch + Lomb Holdings Incorporated, the global eye health company, today announced that they have entered into a definitive agreement under which Valeant will acquire Bausch + Lomb for $8.7 billion in cash.
Bausch + Lomb is a leading global eye health company that operates in three segments: Pharmaceutical (including prescription brands, generics and over-the-counter, Vision Care (contact lenses and solutions), and Surgical (intraocular lenses and surgical equipment).
Bausch + Lomb has a broad portfolio of eye health products, including well-known prescription and OTC brands Besivance, Lotemax, Ocuvite and PreserVision; vision care brands Biotrue ONEday, PureVision, renu and Boston; and surgical brands enVista, Storz, Stellaris and VICTUS.
Under terms of the agreement, which was unanimously approved by the Board of Directors of both companies, Valeant will pay aggregate consideration of $8.7 billion in cash, of which approximately $4.5 billion will go to an investor group led by Warburg Pincus and approximately $4.2 billion will be used to repay Bausch + Lomb's outstanding debt.
Valeant expects to achieve at least $800 million in annual cost savings by end of 2014. Bausch + Lomb expects to have revenues of approximately $3.3 billion and adjusted EBITDA in 2013 of approximately $720 million.
The transaction is expected to be immediately accretive to Valeant's cash earnings per share. Assuming the transaction occurred on January 1, 2013 and assuming the full realization of synergies, the acquisition would have been approximately 40% accretive to Valeant's expected 2013 Cash EPS.
The transaction will be financed with debt and approximately $1.5 - $2.0 billion of new equity.
Bausch + Lomb will retain its name and become a division of Valeant.
|Elan, Perrigo||Jul 2013||8600||Acquisition agreement for Elan|| |
13 December 2013
Perrigo Company and Elan Corporationannounced that the Irish High Court has approved Perrigo’s pending acquisition of Elan.
The parties have now obtained all regulatory approvals required to complete the transaction.
The closing remains subject to the satisfaction of other customary closing conditions and is expected to occur on December 18, 2013.
18 November 2013
Shareholders of Elan Corporation approved the acquisition of Elan by Perrigo Company
Perrigo will acquire Elan in a stock-and-cash transaction.
29 July 2013Perrigo Company ( and Elan Corporation announced that, following a formal sale process conducted by Elan, Perrigo and Elan have entered into a definitive agreement under which Elan will be acquired by a new holding company incorporated in Ireland.
The cash and stock transaction, which is valued at approximately US$8.6 billion based on the closing price of Perrigo shares on 26 July 2013 (US$6.7 billion excluding Elan’s cash on hand), will create a global healthcare company with an industry-leading growth profile and the geographic scale and scope to continue building a truly differentiated business.
Under the terms of the Transaction Agreement, at the closing of the acquisition, Elan shareholders will receive US$6.25 in cash and 0.07636 shares of New Perrigo for each Elan share.
The transaction values each Elan share at US$16.50 based on the closing price of Perrigo shares on 26 July 2013, which represents a premium of approximately 10.5% compared to the closing price of Elan American Depositary Shares on 26 July 2013, the last trading day prior to the date of this announcement.
The transaction values the entire share capital of Elan at approximately US$8.6 billion based on Perrigo’s closing share price on 26 July 2013.
Net of cash, the transaction is valued at US$6.7 billion.
Perrigo shareholders will receive one share of New Perrigo for each share of Perrigo that they own upon closing and US$0.01 per share in cash.
The transaction will be taxable, for U.S. federal income tax purposes, to both the Elan shareholders and the Perrigo shareholders.
Immediately after the closing of the transaction, Perrigo shareholders are expected to own approximately 71% of the combined company while Elan shareholders are expected to own approximately 29%.
Shares of New Perrigo will be registered with the U.S. Securities and Exchange Commission and are expected to trade on the New York Stock Exchange and the Tel Aviv Stock Exchange.
|Actavis Inc, Warner Chilcott||May 2013||8500||Acquisition agreement for Warner Chilcott|| |
Actavis and Warner Chilcott announced that the U.S. Federal Trade Commission has voted to approve Actavis' proposed acquisition of Warner Chilcott.
The vote in support of the transaction follows Actavis' agreement to a proposed consent order, pursuant to which Actavis has agreed to divest certain products as a condition to obtaining FTC approval.
The closing of the transaction remains subject to approval by the Irish High Court and other customary closing conditions, and is expected to occur as soon as practicable after satisfaction of those conditions.
Under the terms of the consent order with the FTC and subject to the consummation of the transaction between Actavis and Warner Chilcott, Actavis will divest four products to Amneal Pharmaceuticals.
Terms of the divestitures were not disclosed. The divested products are:
Actavis' Zenchent Fe (norethindrone acetate/ethinyl estradiol), a generic version of Femcon Fe
Actavis' pending application for norethindrone acetate/ethinyl estradiol, a generic version of Lo Loestrin® Fe.
Actavis' pending application for risedronate sodium, a generic version of Atelvia.
Actavis' approved application for norethindrone acetate/ethinyl estradiol, a generic version of Loestrin 24 Fe.
29 August 2013
Actavis, Inc announced that all three leading independent proxy advisory firms Institutional Shareholder Services, Glass Lewis and Egan-Jones have recommended that Actavis shareholders vote in favor of adopting the transaction agreement in which Actavis will acquire Warner Chilcott through the formation of a new holding company incorporated in Ireland, expected to be named Actavis plc.
20 May 2013
Actavis and Warner Chilcott have entered into a definitive agreement under which Actavis will acquire Warner Chilcott plc in a stock-for-stock transaction valued at approximately $8.5 billion.
If successfully completed, the transaction will create a leading global specialty pharmaceutical company with approximately $11 billion in combined annual revenue, and the third-largest U.S. specialty pharmaceutical company with approximately $3 billion in annual revenues focused on core therapeutic categories of Women's Health, Gastroenterology, Urology and Dermatology.
The proposed transaction has been unanimously approved by the Boards of Directors of Actavis and Warner Chilcott, and is supported by the management teams of both companies.
Under the terms of the Transaction Agreement, at closing Warner Chilcott shareholders will receive 0.160 shares of New Actavis for each Warner Chilcott share they own, which equates to a value of $20.08 per Warner Chilcott share based on Actavis' closing share price of $125.50 on May 17, 2013.
This represents a 43 percent premium compared to Warner Chilcott's volume-weighted average trading price of $14.00 for the 30 day trading period ending on May 9, 2013 (the day before Warner Chilcott disclosed it was engaged in preliminary discussions with Actavis) and a 34 per cent premium to the Warner Chilcott closing share price on May 9, 2013 of $15.01.
Based on the closing prices of Actavis shares and Warner Chilcott shares on May 9, 2013 of $106.81 and $15.01 each respectively, the value of the consideration payable per Warner Chilcott share would be $17.09 which would represent a premium of 14 per cent over the Warner Chilcott closing share price on such date.
|Celesio, McKesson||Oct 2013||8300||Acquisition agreement for Celesio|| |
05 December 2013
McKesson has launched the voluntary public takeover offer for the outstanding shares of Celesio and tender offers for the outstanding convertible bonds of Celesio.
McKesson launched the Tender Offers for Celesio’s outstanding convertible bonds at a price corresponding to the value of the underlying shares.
€23 per share offer price, which equals €53,117.78 ($0.73 million) per bond for Celesio’s convertible bond due 2014.
€120,798.32 ($0.17 million) per bond for Celesio’s convertible bond due 2018 (principal amount of €100,000).
24 October 2013
McKesson has signed an agreement to acquire a majority stake in Celesio for €23 per share.
To launch parallel voluntary public tender offers for the remaining publicly-traded shares and outstanding convertible bonds of Celesio.
The offer price of €23 per share represents a 39% premium over the three-month volume weighted average price prior to the market speculation that began on October 8, 2013.
The total transaction, including the assumption of Celesio’s outstanding debt, is valued at approximately $8.3 billion(€6.1 billion)*.
McKesson and Celesio will combine to form a global leader in healthcare services with deep expertise in delivering solutions to pharmacies, manufacturers, patients and other customers.
After completion of the transaction, McKesson and Celesio expect to maintain their own brands and continue to support customers through existing channels
McKesson has agreed to acquire Haniel’s stake in Celesio, currently representing 50.01% of the total outstanding shares of the company.
McKesson will launch parallel tender offers for Celesio’s publicly-traded shares at €23 per share and its outstanding convertible bonds at a price corresponding to the value of the underlying shares implied by a €23 per share offer price, which equals €53,117.78 per bond for Celesio’s convertible bond due 2014 (principal amount of €50,000) and €120,798.32 per bond for Celesio’s convertible bond due 2018 (principal amount of €100,000).
McKesson expects the tender offers to commence during McKesson’s fiscal third quarter of 2014, ending December 31, 2013, and conclude in McKesson’s fiscal fourth quarter of 2014, but no earlier than January 17, 2014.
|Community Health Systems, Health Management Associates||Jul 2013||7600||Acquisition agreement for Health Management Associates|| |
Community Health Systems and Health Management Associates have entered into a definitive merger agreement pursuant to which CHS will acquire HMA for approximately $7.6 billion, including the assumption of approximately $3.7 billion of indebtedness.
When completed, CHS would own or operate approximately 206 hospitals in 29 states with a total bed count of over 31,000.
Under the terms of the agreement, CHS will acquire all of the issued and outstanding common stock of HMA for a combination of cash and CHS stock currently valued at $13.78 per HMA share, based on CHS’ closing stock price as of July 29, 2013, and consisting of $10.50 per share in cash plus 0.06942 of a share of CHS common stock for each HMA share.
HMA shareholders will own approximately 16 percent of the shares of the combined company following the close of the transaction.
In addition to the cash and stock consideration, HMA shareholders would also receive one Contingent Value Right (CVR) for each HMA share they own, which could yield additional cash consideration of up to $1.00 per share, depending on the outcome of certain matters described in HMA’s public filings under the “Legal Proceedings” section.
|Elan, Royalty Pharma||Feb 2013||6700||Acquisition agreement for Elan - proposed (updated)|| |
7 June 2013
Royalty Pharma has increased its offer to $13 for each Elan share from a bid last month of $12.50 a share and an initial offer of $11.25 in February.
The revised offer also includes an option for Elan shareholders to receive as much as $2.50 a share extra if the multiple sclerosis drug Tysabri meets certain regulatory approval and sales milestones.
23 May 2013
Elan Corporation announced that its Board of Directors, after careful review and consideration and with the assistance of its executive management team as well as outside financial and legal advisors, has determined that privately held investment firm Royalty Pharma's revised offer announced on Monday May 20, 2013 to acquire all of Elan's shares for $12.50 per share through its shell subsidiary Echo Pharma Acquisition Limited, substantially undervalues the company.
Shareholders will also receive in the coming days a shareholder circular and Notice of Extraordinary General Meeting to be held on June 17, 2013 in connection with the recently announced transactions, decisively transforming the company, which are to be voted on by Shareholders at the Company's forthcoming EGM on June 17, 2013.
15 April 2013
Royalty Pharma announced, pursuant to Rule 2.5 of the Irish Takeover Rules, the terms of a firm, all cash offer for the entire issued and to be issued share capital of Elan Corporation.
Subject to certain conditions as set forth in the Announcement, Royalty Pharma is offering the "Offer Price" for each outstanding share and ADS of Elan:
12 April 2013
Irish drugmaker Elan won strong approval from shareholders for a $1 billion share buyback as it seeks to keep them on side and stave off a takeover approach from U.S. investment firm Royalty Pharma.
The buyback, priced between $11.25 and $13.00 per share, was supported by 99.2 percent of shareholders on Friday.
25 February 2013
Royalty Pharma announces that contact was made on Monday February 18, 2013 with the Chairman of the Board of Elan, followed by a meeting then taking place on Wednesday February 20, 2013, at which an indicative proposal was made to acquire the entire issued and to be issued share capital of Elan.
Royalty Pharma is proposing, on an indicative basis, to make an offer for Elan of US$11 for every Elan Share and every Elan ADS.
While Royalty Pharma has not received a formal response to its Proposal and has been unsuccessful in its efforts to engage with Elan since making the Proposal, Royalty Pharma remains committed to working towards a recommended transaction.
Royalty Pharma was, however, surprised by Elan's public announcement on Friday February 22, 2013 discussing Elan's standalone strategy but not addressing the fact that Elan had received Royalty Pharma's Proposal.
The Possible Offer represents:
A cash premium of 12.6 percent to the Current Enterprise Value of Elan based on the closing share price of Elan Stock on February 15, 2013 of US$10.35 on the New York Stock Exchange;
A cash premium of 6.3 percent to the closing share price of Elan Stock on February 15, 2013 of US$10.35 on the New York Stock Exchange;
A cash premium of 12.7 percent to the volume weighted average closing share price on the New York Stock Exchange for Elan Stock between February 6, 2013, being the date on which the Tysabri Transaction was announced to the market, and February 15, 2013 of US$9.76;
A cash premium of 9.5 percent to the Broker Median Price Target of US$10.05 for Elan Stock set by those brokers that Royalty Pharma is aware have published price targets since the announcement of the Tysabri Transaction;
A Proposal Enterprise Value for Elan equal to 16.4x and 12.1x 2014 and 2015 Broker Projected EBITDA respectively (the median 2014 and 2015 projected EBITDA multiples for the Specialty Pharma Companies are 7.5x and 5.9x respectively, and for the Large Cap Biotech Companies are 11.1x and 9.1x respectively);
A Proposal price equal to 55.0x and 30.6x 2014 and 2015 Broker Projected Earnings Per Share respectively (the median 2014 and 2015 projected earnings per share multiples for the Specialty Pharma Companies are 11.7x and 8.7x respectively, and for the Large Cap Biotech Companies are 15.1x and 11.3x respectively).
|Meda, Sun Pharmaceutical||May 2013||6000||Acquisition agreement for Meda- proposed|| |
India's Sun Pharmaceutical Industries is in talks to buy Sweden's Meda AB for between $5 billion and $6 billion to boost its generics business in developed markets.
Meda makes speciality products, over-the-counter drugs and branded generics - the same areas of focus as Sun.
|Tenet Healthcare, Vanguard Health Systems||Jun 2013||4300||Acquisition agreement for Vanguard Health Systems|| |
Tenet Healthcare Corporation and Vanguard Health Systems have signed a definitive agreement whereby Tenet will acquire Vanguard for $21 per share in an all cash transaction.
The acquisition is valued at $4.3 billion including the assumption of $2.5 billion in Vanguard debt.
Tenet expects the transaction to be accretive to earnings in the first year.
Anticipated annual synergies are $100 million to $200 million. Both Boards of Directors have unanimously approved the transaction and Tenet has secured fully committed financing from Bank of America Merrill Lynch.
The acquisition, which is expected to close before the end of 2013, is subject to customary closing conditions and regulatory approvals. Upon closing, Charlie Martin, Vanguard’s founder, chairman and chief executive officer, will join Tenet’s Board of Directors.
Keith Pitts, Vanguard’s vice chairman, will join the Tenet senior management team as vice chairman.
Gibson Dunn & Crutcher served as Tenet’s legal counsel and Lazard acted as lead financial and strategic advisor.
Bank of America Merrill Lynch, Barclays and Teneo Capital also served as advisors for Tenet. Skadden, Arps, Slate, Meagher & Flom served as Vanguard’s legal counsel and JP Morgan acted as exclusive financial and strategic advisor.
|Shire Pharmaceuticals, Viropharma||Nov 2013||4200||Acquisition agreement for ViroPharma|| |
11 December 2013
Shire's waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 relating to its previously announced tender offer by a wholly owned subsidiary of Shire for all outstanding shares of ViroPharma expired.
11 November 2013Shire and ViroPharma announced that their Boards of Directors have unanimously approved, and the companies have entered into, a merger agreement pursuant to which Shire will acquire all the outstanding shares of the rare disease company ViroPharma for $50 per share in cash, for a total consideration of approximately $4.2 billion.
The $50 per share price in the transaction represents a 27% premium to ViroPharma's closing share price on Friday, November 8, 2013, the last trading day prior to announcement, and a 64% premium to ViroPharma's unaffected share price of $30.47 on September 12, 2013.
ViroPharma is a high growth, rare disease biopharmaceutical company, whose commercial product CINRYZE (C1 esterase inhibitor [human]), is a leading brand for the prophylactic treatment of Hereditary Angioedema (HAE).
|Salix Pharmaceuticals, Santarus||Nov 2013||2600||Acquisition agreement for Santarus|| |
12 December 2013
Salix Pharmaceuticals announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended in connection with Salix’s proposed acquisition of Santarus has expired.
The expiration of the HSR Act waiting period satisfies one of the conditions to the completion of the tender offer.
03 December 2013
Salix Pharmaceuticals announced the commencement of a cash tender offer to purchase all of the issued and outstanding shares of common stock, par value $0.0001 per share, of Santarus.
Purchase price of $32.00 per share, net to the seller in cash.
The tender offer is being made pursuant to an Offer to Purchase.
The tender offer is not subject to a financing condition.
8 November 2013
Salix Pharmaceuticals and Santarus have entered into a definitive merger agreement under which Salix will acquire all of the outstanding common stock of Santarus for $32.00 per share in cash (without interest).
The all-cash transaction values Santarus at approximately $2.6 billion.
The combined company is expected to have a leading position with a strong portfolio of 22 marketed products, including: XIFAXAN, UCERIS, GLUMETZA, APRISO, ZEGERID, MOVIPREP, RELISTOR, SOLESTA, FULYZAQ, CYCLOSET and FENOGLIDE.
Salix intends to finance the transaction with a combination of approximately $800 million cash on hand and $1.95 billion in committed financing from Jefferies Finance.
Jefferies Finance also has committed to provide an additional $150 million revolving credit facility.
|AssuraMed, Cardinal Health||Feb 2013||2070||Acquisition agreement for AssuraMed|| |
Cardinal Health announced plans to acquire AssuraMed, for $2.07 billion, or $1.94 billion, net of the present value of tax benefits.
The acquisition will be financed with a combination of $1.3 billion in new senior unsecured notes and the remainder in cash.
|Agila Specialties, Mylan Laboratories||Feb 2013||1750||Acquisition agreement for Agila Specialities|| |
05 December 2013
Strides Arcolab has completed the sale of its Agila Specialties division to Mylan Inc for a total consideration of up to $1.75 billion
Board of directors approved final transaction terms to include "a hold back of $250 million contingent upon satisfaction of certain regulatory conditions".
4 September 2013
Mylan received approval from the Foreign Investment Promotion Board of India for its plan to acquire the Agila injectables business from Strides Arcolab Ltd.
It plans to finish the $1.6 billion purchase sometime in the fourth quarter.
27 February 2013
Mylan has signed a definitive agreement to acquire Agila Specialties for $1.6 billion in cash.
The acquisition of Agila will create a global injectables leader, significantly expanding and strengthening Mylan's global injectables platform and providing Mylan entry into new high-growth geographic markets.
Mylan will pay Strides Arcolab $1.6 billion in cash.
The agreement also provides for up to an additional $250 million in potential payments subject to the satisfaction of certain conditions by Strides.
|Essilor, PPG Industries, Transitions Optical||Jul 2013||1730||Acquisition agreement for Transitions Optical )proposed)|| |
Essilor International announces the signature of an agreement to acquire the 51% stake in Transitions Optical owned by PPG.
Transitions Optical is a leading provider of photochromic lenses to optical manufacturers worldwide.
Following the transaction, Essilor will own 100% of the capital of Transitions Optical.
The transaction also includes the acquisition of Intercast, a leading supplier of sun lenses.
The acquisition is fully aligned with Essilor’s growth strategy, which is based on strong innovation in every segment of the optical industry, on visual protection as well as on expansion in the mid-market and in fast-growing countries.
It also supports Essilor’s mission of bringing improved vision to more than 4.2 billion people, of whom 2.5 billion do not currently benefit from eye correction.
|Kohlberg Kravis Roberts (KKR), Panasonic Healthcare, Panasonic Shikoku Electronics||Sep 2013||1670||Acquisition agreement for Panasonic Healthcare unit|| |
Kohlberg Kravis Roberts agreed to buy the health care unit of Panasonic for 165 billion yen, or $1.67 billion, as the Japanese company tries to streamline its operations after two years of steep losses.
After the deal, K.K.R. will own 80 percent of Panasonic Healthcare, while Panasonic will retain 20 percent, according to a joint statement.
Panasonic Healthcare manufactures and sells blood glucose monitoring meters and sensors for diabetics.
|MAKO Surgical, Stryker||Sep 2013||1650||Acquisition agreement for Mako Surgical|| |
MAKO Surgical announced a definitive agreement with Stryker, by which Stryker will acquire all of the outstanding shares of MAKO for $30.00 per share in cash, for an aggregate purchase price of approximately $1.65 billion.
|Endo Pharmaceuticals, Paladin Labs||Nov 2013||1600||Acquisition agreement for Paladin Labs|| |
Endo Health Solutions agreed to buy Canadian drug company Paladin Labs for about $1.6 billion to expand in that country and emerging markets.
The purchase, mostly through stock, values each Paladin Labs share at C$77.
The deal gives Endo access to the Canadian market.
|Kohlberg Kravis Roberts (KKR), PRA International||Jun 2013||1300||Acquisition agreement for PRA International|| |
PRA International announced that funds managed by KKR are acquiring PRA from Genstar Capital.
PRA is one of the world’s leading global contract research organizations, providing outsourced clinical development services to the biotechnology and pharmaceutical industries.
PRA offers comprehensive services including the filing of Investigational New Drug and similar regulatory applications, management and implementation of Phase I through IV clinical trials, preparation and submission of New Drug Applications, and post-marketing surveillance on an international basis.
|Adcock Ingram, CFR Pharmaceuticals||Sep 2013||1200||Acquisition agreement for Adcock Ingram|| |
15 November 2013
CFR Pharmaceuticals issued a firm intention announcement to acquire 100% of the issued share capital.
Excluding the Bophelo Scheme Shares and the Treasury Shares.
total Scheme Consideration of approximately ZAR12.6 billion (approximately US$1.2 billion)
Terms not defined herein have the meaning attributed to them in the FIA.
6 November 2013
Adcock Ingram Holdings largest shareholder said it won’t back a $1.2 billion takeover proposal from Chilean drugmaker CFR Pharmaceuticals SA saying it’s not in the investor’s best interests.
11 September 2013
Adcock Ingram and CFR have entered into a transaction agreement of potential cash and shares offer by CFR to acquire 100% of the issued ordinary share capital of Adcock Ingram.
A deal worth R12.6 billlion (approximately US$1.3 billion).
The proposed offer price is currently worth R75.92 per ordinary share based on the closing price of CFR shares on the Santiago Stock Exchange on 10 September 2013.
|Borealis Infrastructure, CML Healthcare, LifeLabs Medical Laboratory Services||Oct 2013||1200||Acquisition agreement for CML Healthcare|| |
LifeLabs Medical Laboratory Services and Borealis Infrastructure are pleased to announce the completion of the previously announced acquisition of CML HealthCare.
The coming together of LifeLabs and CML will expand access for patients to community laboratory testing services in the province of Ontario.
LifeLabs entered into an agreement with CML to purchase all of the issued and outstanding shares of CML for $10.75 per share in cash.
The agreement, valued at approximately $1.2 billion.
|AstraZeneca, Pearl Therapeutics||Jun 2013||1150||Acquisition agreement for Pearl Therapeutics|| |
AstraZeneca has entered into a definitive agreement to acquire Pearl Therapeutics, a privately held company based in Redwood City, California, focused on the development of inhaled small-molecule therapeutics for respiratory disease.
The acquisition will give AstraZeneca access to a potential new treatment for chronic obstructive pulmonary disease, currently in late-stage development, and inhaler and formulation technology that provides a platform for future combination products.
Pearl’s lead product, PT003, is a fixed dose combination of formoterol fumarate, a long-acting beta-2-agonist and glycopyrrolate, a long-acting muscarinic antagonist.
LABA/LAMA combinations are expected to become an important new class of treatment for COPD.
A global Phase III programme has been initiated and will test the improvement in lung function in individuals with moderate to severe COPD in response to PT003.
PT003 is delivered by inhalation.
Under the terms of the agreement, AstraZeneca will acquire 100% of Pearl’s shares for initial consideration of $560 million payable on completion.
In addition, deferred consideration of up to $450 million becomes payable if specified development and regulatory milestones in respect of any triple combination therapies and selected future products that AstraZeneca develops using Pearl’s technology platform are achieved.
Sales-related payments of up to a further $140 million are payable if pre-agreed cumulative sales thresholds are exceeded resulting in a total potential acquisition cost of up to $1.15 billion. The proposed transaction is subject to customary regulatory approvals and is expected to close in the third quarter of 2013.
|Bayer Healthcare, Conceptus||Apr 2013||1100||Acquisition agreement for Conceptus (completed)|| |
7 June 2013
The Bayer Group has successfully completed its tender offer for the outstanding shares of Conceptus.
29 April 2013
Bayer HealthCare has signed an agreement with Conceptus.
With this acquisition, Bayer will be able to offer a complete range of short-term, long-term and permanent contraceptive choices for women.
Within the next ten business days, Bayer will launch a public tender offer to acquire all shares in Conceptus.
The transaction values Conceptus at approximately US$1.1 billion representing US$31.00 per share in cash.
|Amgen, Onyx Pharmaceuticals||Aug 2013||1040||Acquisition agreement for Onyx Pharmaceuticals|| |
Amgen agreed to buy Onyx Pharmaceuticals for about $10.4 billion in cash to gain access to the company’s three anticancer treatments.
Under the terms of Sunday’s deal, Amgen will offer $125 a share in cash through a tender offer for Onyx’s shares.
The transaction is expected to close at the beginning of the fourth quarter, subject to regulatory approval.
The crown jewel of Onyx is Kyprolis, which was approved in the United States last July as a last-ditch treatment for multiple myeloma, a bone marrow cancer.
The drug recorded sales of $125 million in the first six months of this year.
But many analysts see annual sales growing to $2 billion in several years if the drug wins approval in Europe, and wins approval to be used earlier in the course of treatment.
The acquisition of Onyx is not without risk.
The multiple myeloma market is now very competitive, led by Celgene, which sells the blockbuster Revlimid.
Celgene won approval earlier this year for another drug, Pomalyst, that has been competing with Kyprolis as a last-ditch treatment.
|Aragon Pharmaceuticals, Johnson & Johnson||Jun 2013||1000||Acquisition agreement for Aragon Pharmaceuticals|| |
20 August 2013
Johnson & Johnson has successfully completed its acquisition of Aragon Pharmaceuticals.
Development of compounds from Aragon's androgen receptor antagonist program, including its lead androgen receptor signaling inhibitor, ARN-509, will be managed by Janssen Research & Development.
17 June 2013
Aragon Pharmaceuticals Inc announced a definitive agreement with Johnson & Johnson whereby Aragon will be acquired for $650 million in cash up front along with $350 million in contingent development milestone payments that could bring the total transaction value to $1 billion.
The acquisition includes Aragon's androgen receptor antagonist program, including its most advanced compound, ARN-509, a second generation androgen receptor signaling inhibitor that is currently being evaluated in a Phase II trial in patients with castration-resistant prostate cancer.
Prior to closing, Aragon will spin off an independent, newly formed corporation called Seragon Pharmaceuticals, which will be focused primarily on Aragon's Selective Estrogen Receptor Degrader platform, including ARN-810, its lead SERD currently being evaluated in a Phase I trial for ER+ metastatic breast cancer.
Seragon will be based in San Diego, CA and will be financed by the current Aragon investors. It will retain members of the management team including, Richard Heyman, current Chief Executive Officer of Aragon, who will become Seragon's CEO.
Johnson & Johnson will not have an ownership stake in Seragon nor retain any rights to its technology or product development pipeline.
|Allergan, MAP Pharmaceuticals||Jan 2013||958||Acquisition agreement for MAP Pharmaceuticals|| |
Allergan and MAP Pharmaceuticals have entered into a definitive merger agreement whereby Allergan will acquire 100% of the shares of MAP Pharmaceuticals for a price of $25.00 per share.
MAP Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing new therapies in Neurology, including LEVADEX, an orally inhaled drug for the potential acute treatment of migraine in adults.
The per share cash offer price represents a 60% premium over MAP’s closing stock price on the Nasdaq Stock Market of $15.58 on January 22, 2013, and represents a total equity value of approximately $958 million, on a fully-diluted basis.
|Monsanto, The Climate Corp||Oct 2013||930||Acquisition agreement for The Climate Corp|| |
Monsanto plans to acquire The Climate Corp. for about $930 million in cash.
The acquisition will combine The Climate Corp.’s expertise in agriculture analytics and risk-management with Monsanto’s research and development capabilities.
|Astex Pharmaceuticals, Otsuka||Sep 2013||886||Acquisition agreement for Astex Pharmaceuticals|| |
11 October 2013
Otsuka Holdings, successfully completed, through its wholly-owned indirect subsidiary Autumn Acquisition Corporation, its acquisition of Astex Pharmaceuticals, for US $8.50 per share, net to the seller in cash, without interest and less any required withholding taxes.
The acquisition was effected through a tender offer , which was commenced on September 13, 2013, New York time and expired at 12:00 midnight, New York time at the end of October 10, 2013, followed by a merger on October 11, 2013.
5 September 2013
Japanese drugmaker Otsuka Holdings has agreed to buy Astex Pharmaceuticals for about $886 million to tap cancer drugs under development by the U.S. biotechnology company.
The move comes as Otsuka seeks to increase revenue streams as patents for its mainstay Abilify schizophrenia treatment will begin to expire.
Cancer is attracting increased investment from biotech and pharmaceutical companies as a series of breakthroughs in understanding the genetic basis of the disease fuels a run of promising new medicines.
Astex, whose only approved drug, Dacogen, treats a blood disorder called myelodysplastic syndromes, is developing drugs to treat leukemia, prostate, lung and ovarian cancer.
The biotech company said last month that SGI-110, an experimental drug for acute myeloid leukemia, produced positive results in a Phase II mid-stage clinical trial.
|EBOS Group, Symbion||May 2013||884||Acquisition agreement for Symbion|| |
Ebos Group has agreed to buy Symbion, in a $1.1 billion deal which will more than triple its annual revenues and make it a major player across Australasia.
The Christchurch-based company will pay $367 million in cash and $498 million in scrip, while taking on $230 million in net debt for Zuellig Healthcare Holdings Australia, it said in a statement.
The agreement is subject to certain conditions, and needs shareholder approval at a special meeting in Christchurch on June 14.
Symbion is Australia's leading pharmaceutical wholesaler and distributor by revenue, with annual sales of A$3.9 billion.
Zuellig owns healthcare, agri-business and agricultural equipment firms across the Asia-Pacific.
The transaction will give Zuellig a 40 per cent stake of Ebos, and the cash portion will be funded through new debt facilities, a $90 million fully underwritten placement to institutional investors at a 10 per cent discount, and a $149 million 7 for 20 pro-rata renounceable entitlement offer to existing shareholders.
|Covidien, Given Imaging||Dec 2013||860||Acquisition agreement for Given Imaging|| |
Covidien and Given Imaging announced a definitive agreement under which Covidien will acquire all of the outstanding shares of Given Imaging for $30.00 per share in cash.
Total of approximately $860 million, net of cash and investments acquired.
Transaction provides Covidien additional scale and scope to serve the multibillion dollar global gastrointestinal market.
Supports the Company’s strategy to comprehensively address key global specialties and procedures.
Given Imaging provides one of the broadest technology platforms for visualizing, diagnosing and monitoring the digestive system, including its flagship PillCam, an innovative swallowed capsule endoscope.
Covidien intends to finance the transaction through cash on hand and will report Given Imaging within the Medical Devices business segment.
|Cubist Pharmaceuticals, Optimer Pharmaceuticals||Jul 2013||801||Acquisition agreement for Optimer Pharmaceuticals|| |
Cubist Pharmaceuticals and Optimer Pharmaceuticals they have signed a merger agreement under which Cubist will acquire all of the outstanding shares of Optimer common stock for $10.75 per share in cash, or approximately $535 million on a fully diluted basis.
In addition to the upfront cash payment, each stockholder of Optimer will receive a Contingent Value Right , which is expected to be publicly traded, entitling the holder to receive an additional one-time cash payment of up to $5.00 for each share they own if certain net sales of DIFICID(fidaxomicin) are achieved, or a total transaction value of up to $801 million on a fully diluted basis.
|Investors, Nordic Capital, Permobil||Feb 2013||776.3||Acquisition agreement for Permobil|| |
Investor has signed an agreement to acquire Permobil from Nordic Capital Fund V for an enterprise value of SEK 5.1 bn ($776.3 million).
Investor expects to inject approximately SEK 3.5 bn. in equity financing.
The remainder will be financed by external debt and equity participation by the board, management and other key individuals.
|Stryker, Trauson||Mar 2013||764||Acquisition agreement for Trauson|| |
Stryker has wrapped up its $764 million acquisition of Trauson Holdings, giving it a major foothold in China's orthopedics device industry.
|Cubist Pharmaceuticals, Trius Therapeutics||Jul 2013||704||Acquisition agreement for Trius Therapeutics|| |
12 September 2013
Cubist Pharmaceuticals has completed the previously announced acquisition of Trius Therapeutics for an aggregate upfront cash consideration of approximately $704 million.
Effective today, Trius common stock will cease to be traded on the NASDAQ.
29 August 2013
Cubist Pharmaceuticals and Trius Therapeutics announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with Cubist’s previously announced tender offer for all of the outstanding common stock of Trius.
30 July 2013
Cubist Pharmaceuticals and Trius Therapeuticshave signed a definitive agreement under which Cubist will acquire all outstanding shares of Trius for $13.50 per share in cash or approximately $707 million on a fully diluted basis.
In addition to the upfront cash payment, each Trius stockholder will receive one Contingent Value Right (CVR), entitling the holder to receive an additional cash payment of up to $2.00 for each share they own if certain commercial sales milestones are achieved.
The total transaction is valued at up to $818 million on a fully diluted basis.
The transaction has been approved by the Boards of Directors of both companies.
Trius brings to Cubist a highly complementary, late-stage antibiotic candidate, tedizolid phosphate (TR-701), as well as several pre-clinical antibiotic programs.
Tedizolid phosphate is an IV and orally administered second generation oxazolidinone in development for the potential treatment of certain Gram-positive infections, including methicillin-resistant Staphylococcus aureus (MRSA).
The terms of the non-tradable CVR include an additional payment of up to $2.00 if certain sales milestones are achieved.
The CVR will entitle each Trius stockholder to receive $1.00 per share if net sales of tedizolid in the U.S., Canada and Europe are greater than or equal to $125 million in 2016 and up to an additional $1.00 per share, paid on a pro rata basis, for 2016 net sales between $125 million and $135 million.
|Novo, Xellia Pharmaceuticals||May 2013||700||Acquisition agreement for Xellia Pharmaceuticals|| |
Xellia Pharmaceuticals announced that Novo, the holding company of the Novo Group, has puchased all shares of the group for approximately $700 million from 3i and other current shareholders.
As a consequence of the transaction, Xellia will revert to Danish ownership with headquarters in Copenhagen, Denmark.
Since its spin-out from Alpharma Inc. in 2008, Xellia’s management and international investor 3i have successfully transformed the business from an active pharmaceutical ingredient manufacturer to a specialty pharmaceutical company focused on anti-infective products.
Xellia’s life-saving anti-infective products for multi-drug resistant infections address a growing global medical challenge, and the Company is a world leading supplier of Vancomycin and Colistimethate Sodium.
Xellia’s products are all manufactured using fermentation-based biological processes at facilities located in Denmark, Norway, Hungary and China.
|AOP Orphan Pharmaceuticals, Elan||May 2013||685.7||Acquisition agreement for AOP Orphan Pharmaceuticals|| |
Elan will acquire 100% of AOP and upon close Elan will pay €263.5 million for the company, comprised of €175.7 million in cash and €87.8 million of Elan ordinary shares.
In addition, there will be potential cash milestone payments of up to €270 million on the advancement of certain late stage clinical programs.
AOP Orphan Pharmaceuticals is focused on rare and orphan diseases.
The company works in medical marketing of innovative drugs in orphan indications.
Their therapeutic focus areas are hematology & oncology, cardiology & pulmonology, neurology & metabolic disorders.
|Jabil Circuit, Nypro||Feb 2013||665||Acquisition agreement for Nypro|| |
Jabil Circuit announced an agreement to acquire Nypro.
The total purchase price is expected to be $665 million, subject to certain adjustments, and is expected to be funded from Jabil's existing cash and credit facilities.
|Greenway Medical Technologies, Vista Equity Partners, Vitera Healthcare Solutions||Sep 2013||644||Merger agreement to form Greenway Medical Technologies|| |
Greenway Medical Technologies will combine with private equity owned Vitera Healthcare Solutions.
As part of the $644 million deal, Greenway Medical will go private.
The Vitera and Greenway businesses will serve nearly 13,000 medical organizations and 100,000 providers.
The combined entity is expected to operate as Greenway Medical Technologies with the products and services of both Greenway and Vitera marketed under the Greenway brand.
Greenway will continue to have headquarters and principal operations in Carrollton, GA, Tampa, FL and Birmingham, AL.
Under the terms of the agreement, Vista Equity Partners, which owns Vitera Healthcare Solutions, will pay Greenway stockholders $20.35 in cash for each share of Greenway common stock.
|Greenway Medical Technologies, Vitera Healthcare Solutions||Nov 2013||644||Merger agreement for Greenway Medical Technologies|| |
Vitera Healthcare Solutions and Greenway Medical Technologies announced merger resulting in the combination of the two companies into an innovative leader in health information technology.
Vista Equity Partners, owner of Vitera, has acquired all outstanding Greenway common stock for $20.35 per share in a transaction valued at approximately $644 million.
The combined company will be privately held and operate under the Greenway brand.
|BioMed Realty Trust, Wexford Science & Technology||Mar 2013||640||Merger agreement between Wexford Science and BioMed Realty Trust|| |
BioMed Realty Trust has entered into a definitive agreement to merge with Wexford Science & Technology.
The aggregate consideration for Wexford Science & Technology is approximately $640 million, excluding transaction costs and subject to adjustment based on working capital levels and construction and development costs incurred prior to closing. Wexford Science & Technology will operate as a wholly owned subsidiary of BioMed Realty.
Approximately $89 million of the initial consideration is for projects currently under development.
|Akorn, Hi-Tech Pharmacal||Aug 2013||640||Acquisition agreement for Hi-Tech Pharmacal|| |
Akorn and Hi-Tech Pharmacal announced that they have entered into a definitive agreement under which Akorn will acquire Hi-Tech for $640 million in cash.
Hi-Tech is a specialty pharmaceutical company developing, manufacturing and marketing generic and branded prescription and over-the-counter products.
Hi-Tech specializes in difficult to manufacture liquid and semi-solid dosage forms and produces and markets a range of oral solutions and suspensions, as well as topical ointments and creams, nasal sprays, otics, sterile ophthalmics and sterile ointment and gels products.
Hi-Tech’s Health Care Products division is a leading developer and marketer of OTC products.
Hi-Tech's ECR Pharmaceuticals subsidiary markets branded prescription products.
Under the terms of the agreement, Akorn will pay $640 million in cash, or $43.50 per share.
This represents a 23.5% premium over the closing price on August 26.
Akorn expects to achieve between $15 million and $20 million in annual run-rate synergies within 12 months of close.
The combined company is expected to have annual revenues in excess of $500 million and the transaction is expected to be accretive to Akorn’s non-GAAP adjusted earnings per share immediately upon closing.
Assuming the transaction occurred on January 1, 2013 and assuming the full realization of synergies, the acquisition would have been approximately 40% accretive to Akorn’s expected 2013 non-GAAP adjusted earnings per share.
|Bever Pharmaceutical, Pharmstandard||Jul 2013||630||Acquisition agreement for Bever Pharmaceutical|| |
Pharmstandard, Russia’s biggest pharmaceutical company, plans to spin off its business that makes branded, non-prescription drugs and agreed to buy Bever Pharmaceutical for $630 million.
The drugmaker announced the purchase of Bever, based in Singapore, in a regulatory filing.
|Ansell, BarrierSafe Solutions International, Odyssey Investment Partners||Nov 2013||615||Acquisition agreement for BarrierSafe Solutions|| |
Ansell has reached an agreement to acquire BarrierSafe Solutions for a total consideration of approximately US$615 million from Odyssey Investment Partners and others.
Ansell further expands its position in the hand protection market in North America and continues to implement its strategy to create shareholder value through organic and acquisition driven growth.
The Acquisition and associated transaction costs will be funded by a committed debt facility of US$300 million.
Also by raising of new equity through a fully-underwritten private placement of A$338 million (US$308 million).
A portion of a non-underwritten share purchase plan (SPP) of up to A$100 million (US$91 million) to all eligible shareholders in Australia and New Zealand.
BarrierSafe is the leading North American provider of single-use gloves to core Ansell growth verticals like Industrial, Auto Aftermarket, Emergency Medical Services, Dental and Life Sciences, all under the flagship brand Microflex.
|Actient Pharmaceuticals, Auxilium Pharmaceuticals, GTCR Golder Rauner||Apr 2013||585||Acquisition agreement for Actient|| |
Auxilium Pharmaceuticals has completed the acquisition of Actient.
Actient is a private urology specialty therapeutics company.
For $585 million in upfront cash plus certain contingent consideration and warrants to purchase Auxilium common stock.
Auxilium expects to receive a tax benefit, with a net present value of approximately $60 million, as a result of the acquisition of Actient.
The transaction is expected to be immediately accretive on a non-GAAP basis to Auxilium's 2013 adjusted net income.
Auxilium will pay Actient unit holders $585 million in upfront cash.
A warrant for 1.25 million shares of Auxilium common stock with an exercise price of $17.80 per share and up to $50 million of contingent consideration based upon the achievement of future revenue targets.
Auxilium expects to receive a tax benefit, with a net present value of $60 million, as a result of the acquisition of Actient.
Auxilium is using cash on hand and the proceeds from a new secured loan of $225 million from Morgan Stanley Senior Funding.
|Heraeus, Mitsui Chemicals||Jun 2013||578||Acquisition agreement for Heraeus Dental|| |
Mitsui Chemicals announces its acquisition of the dental business of Heraeus Holding.
For €450 million (US$578 million).
Mitsui Chemicals is a Japanese publicly traded chemical company with 13,000 employees worldwide.
Based in Hanau near Frankfurt am Main, Heraeus is a global precious metal and technology group that also employs about 13,000 people.
Their product offering includes prosthetics and systems for the conservation and restoration of natural teeth, and an extensive range of products for dental laboratories and dentists.
Mitsui Chemicals' subsidiary Sun Medical has been involved in the dental materials business for more than 30 years and has a strong presence in the Japanese domestic market.
The acquisition of the Heraeus dental business gives Mitsui Chemicals access to a global platform for its dental materials business and accelerates its future growth.
|Amplimmune, AstraZeneca, MedImmune||Aug 2013||500||Acquisition agreement for Amplimmune|| |
AstraZeneca announced that MedImmune, its global biologics research and development arm, has entered into a definitive agreement to acquire Amplimmune.
The acquisition will bolster MedImmune’s oncology pipeline by obtaining multiple early-stage assets for its immune-mediated cancer therapy portfolio, including AMP-514, an anti-programmed cell death 1 monoclonal antibody (mAb).
Under the terms of the agreement, MedImmune will acquire 100 per cent of Amplimmune’s shares for an initial consideration of $225 million and deferred consideration of up to $275 million based on reaching predetermined development milestones.
|CareFusion, Vital Signs||Nov 2013||500||Acquisition agreement for Vital Signs|| |
CareFusion announced the signing of a definitive agreement for CareFusion to acquire the Vital Signs division of GE Healthcare for $500 million.
Vital Signs is a leading manufacturer of single-patient-use consumables for respiratory care and anesthesiology.
The acquisition will significantly expand CareFusion's Specialty Disposables business by adding global scale and new products for anesthesiology.
The acquisition is expected to be neutral to modestly accretive to CareFusion adjusted diluted earnings per share in fiscal 2014 and $0.05 to $0.08 accretive in fiscal 2015 excluding amortization of acquired intangible assets, non-cash inventory valuation step-up charges, and nonrecurring restructuring, integration and tax charges.
The company expects continued earnings accretion in fiscal 2016 and longer term.