The Spectranetics Corporation’s €1.9 Billion Acquisition by Philips
June 29, 2017
On June 28, 2017, Royal Philips (“Philips”), a global leader in health technology, and The Spectranetics Corporation (“Spectranetics”), a U.S.‑based global leader in vascular intervention and lead management solutions, announced that they have entered into a definitive merger agreement, pursuant to which Philips will commence a tender offer to acquire all of the issued and outstanding shares of Spectranetics for $38.50 per share, to be paid in cash upon completion. The implied enterprise value is approximately €1.9 billion, inclusive of Spectranetics’s cash and debt. Cravath is representing Spectranetics in connection with the transaction.
The Cravath team is led by partner Minh Van Ngo and includes associates Matthew L. Ploszek, John Knight, Jarrett V. Burks, Janice T. P. Martindale and Edward O. Minturn on M&A matters; partner Eric W. Hilfers, senior attorney M. C. Tania Balthazaar and associates Amy C. Benford and Peretz Riesenberg on executive compensation and benefits matters; partner Christine A. Varney and senior attorney Jesse M. Weiss on antitrust matters; partner Andrew W. Needham and associate Kiran Sheffrin on tax matters; partner David J. Kappos and associate Patrick E. Bassey on intellectual property matters; senior attorney Joyce Law and practice area attorney Brian M. Budnick on real estate matters; and senior attorney Annmarie M. Terraciano on environmental matters. Philip F. Schreiber also worked on executive compensation and benefits matters. Summer associates Daniel Brown and Joshua Kameel worked on M&A matters.
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J.D., 2001, Yale Law School
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A.B., 1995, Princeton University
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M.S., 1994, University of Wisconsin - Madison
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