Navigation Links
Covington Advises Salix in $2.6 Billion Acquisition of Santarus
Date:11/7/2013

WASHINGTON, Nov. 7, 2013 /PRNewswire/ -- Salix Pharmaceuticals, Ltd., and Santarus, Inc. announced today that the companies have entered into a merger agreement where Salix will acquire all of the outstanding stock of Santarus for $32 in cash per share, for a total value of approximately $2.6 billion. Covington & Burling LLP is advising Salix on both the acquisition and financing aspects of the transaction.

(Logo: http://photos.prnewswire.com/prnh/20120423/CL92331LOGO)

The companies expect to close the transaction in the first quarter of 2014. 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 LLC. Jefferies LLC also has committed to provide an additional $150 million revolving credit facility.

Salix develops and markets prescription pharmaceutical products and medical devices for the prevention and treatment of gastrointestinal diseases.

Santarus is a specialty biopharmaceutical company focused on acquiring, developing and commercializing proprietary products that address the needs of patients treated by physician specialists.

The Covington acquisition team is led by corporate partners Ed Britton and Catherine Dargan and corporate associates Kyle Rabe, Patrick Manchester, and Nick Simon.

The Covington acquisition finance team is led by finance and capital markets partners Mike Lefever and Kerry Burke with the assistance of associates Matt Franker, Sara Needles, and Stephanie Bignon.

Also advising on the transaction are Amy Toro, Ed Dixon, Jimmy Toy, and James Wawrzyniak* (life sciences commercial), David Martin and Keir Gumbs (securities), Mike Francese, Christen Sewell, and Jeff Bozman (employee benefits), Peter Safir, Scott Cunningham, Noellyn Davies, and Mingham Ji (food and drug regulatory), Anna Kraus, Stefanie Doebler, and Dena Feldman (healthcare compliance), James Dean and James Burke (antitrust), Heather Haberl (real estate), and Rob Heller and Sarah Burnham (tax). 

*Admitted to the New York and District of Columbia bars; not admitted to practice in California.

Covington & Burling LLP, an international law firm, provides corporate, litigation, and regulatory expertise to enable clients to achieve their goals.  Founded in 1919, the firm has more than 800 lawyers and offices in Beijing, Brussels, London, New York, San Diego, San Francisco, Seoul, Shanghai, Silicon Valley, and Washington, DC.

Contact: Rebecca Carr
+1.202.662.5110
rcarr@cov.com


'/>"/>
SOURCE Covington & Burling LLP
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. Covington Advises AstraZeneca in $1.26 Billion Acquisition of Ardea Biosciences
2. Cadwalader Advises Elan Corporation in Billion Dollar Royalty Deal
3. Couple Catches Bed Bug in a Hotel, My Cleaning Products Advises Hotel Management to Counter the Pests With Non-Pesticide Bed Bug Spray Bed Bug Bully
4. Woman Menaces Worker Trying to Get Rid of Bed Bugs, My Cleaning Products Advises She Gets a Non-Pesticide Bed Bug Spray if She Wants No Help
5. Bed Bugs Rise in Oneida County, My Cleaning Products Cautions Residents and Advises Them to Have a Bed Bug Bully Prepared
6. Bed Bugs Sneak In to Elementary Schools, My Cleaning Products Advises to Officials and Other Bed Bug Victims Use of Pesticide-Exempt Bed Bug Bully
7. Exterminate Bed Bugs Like a Professional, My Cleaning Products Publishes a New Guide and Advises Use of Bed Bug Bully to Help
8. MTA Releases Image of R Train Ceiling Rusting from Sandy Flooding; Rusty Cage Advises Hurricane Victims to Solve Rust Problems with Green Rusterizer
9. Bed Bugs Find Their Way to University of Washington and Hastings-on-Hudson Libraries; Bed Bug Control 911 Advises Use of Bed Bug Spray to Effectively Clear the Pests Away
10. Relief Organizations Worry Sandy Clothing Donations Would Start Bed Bug Epidemic; Bed Bug Removal Guide Advises Disaster Victims to Prepare for It with Bed Bug Bully
11. Rust Gets Toyota Recalling Its Tacoma; Hub on Wheels Advises Car Owners to Deal With Any Other Car Rust Problem with Rusterizer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... June 24, 2016 Epic Sciences unveiled ... cancers susceptible to PARP inhibitors by targeting homologous ... (CTCs). The new test has already been incorporated ... multiple cancer types. Over 230 clinical ... response pathways, including PARP, ATM, ATR, DNA-PK and ...
(Date:6/23/2016)... ... June 23, 2016 , ... UAS LifeSciences, one ... of their brand, UP4™ Probiotics, into Target stores nationwide. The company, which has ... add Target to its list of well-respected retailers. This list includes such fine ...
(Date:6/23/2016)... 2016 Houston Methodist Willowbrook Hospital has ... Association to serve as their official health care ... Willowbrook will provide sponsorship support, athletic training services, ... coaches, volunteers, athletes and families. "We ... Association and to bring Houston Methodist quality services ...
(Date:6/23/2016)... FRANCISCO , June 23, 2016   EpiBiome ... has secured $1 million in debt financing from Silicon ... ramp up automation and to advance its drug development ... its new facility. "SVB has been an ... beyond the services a traditional bank would provide," said ...
Breaking Biology Technology:
(Date:4/26/2016)... DUBLIN , April 27, 2016 ... of the  "Global Multi-modal Biometrics Market 2016-2020"  report ... ) , The analysts forecast ... a CAGR of 15.49% during the period 2016-2020.  ... a number of sectors such as the healthcare, ...
(Date:4/14/2016)... 2016 BioCatch ™, the ... announced the appointment of Eyal Goldwerger as ... Goldwerger,s leadership appointment comes at a time of ... deployment of its platform at several of the world,s ... discerns unique cognitive and physiological factors, is a winner ...
(Date:3/29/2016)... 2016 LegacyXChange, Inc. (OTC: ... SelectaDNA/CSI Protect are pleased to announce our successful effort ... variety of writing instruments, ensuring athletes signatures against counterfeiting ... from athletes on LegacyXChange will be assured of ongoing ... Bill Bollander , CEO states, "By ...
Breaking Biology News(10 mins):