AbbVie Announces $21 Billion Acquisition of Pharmacyclics
On March 4, 2015, AbbVie announced a definitive agreement to acquire Pharmacyclics and its flagship asset Imbruvica, a highly effective treatment for hematologic malignancies, for approximately $21 billion. Wilson Sonsini Goodrich & Rosati advised Pharmacyclics in the transaction.
Under the terms of the transaction, AbbVie will pay $261.25 per share comprised of a mix of cash and AbbVie equity. The transaction has been approved by the boards of directors of both companies and is subject to customary closing conditions, including regulatory approvals, and the tender of a majority of outstanding shares of Pharmacyclics' common stock. It is expected to close in mid-2015.
The WSGR team advising Pharmacyclics includes:
Mergers & Acquisitions
Employee Benefits & Compensation
For more information, please see AbbVie's press release.