Thermo Fisher Scientific’s $20.9 Billion Acquisition of PPD, Inc.
April 15, 2021
On April 15, 2021, Thermo Fisher Scientific Inc. (“Thermo Fisher”), a leader in serving science, and PPD, Inc. (“PPD”), a leading provider of clinical research services to the pharma and biotech industry, announced that their boards of directors have approved a definitive agreement under which Thermo Fisher will acquire PPD for $47.50 per share for a total cash purchase price of $17.4 billion plus the assumption of approximately $3.5 billion of net debt. Cravath is representing Thermo Fisher in connection with the transaction.
The Cravath team is led by partners Faiza J. Saeed and Ting S. Chen and includes associates Bethany A. Pfalzgraf, Taryn A. Strohmeyer, Courtney T. Seager and Kristina M. Hurley on M&A matters; partners Eric W. Hilfers and Matthew J. Bobby and associates Jana I. Hymowitz and David Crampton on executive compensation and benefits matters; partners Michael S. Goldman and Craig F. Arcella and associate Ryan J. Wichtowski on financing matters; partner Lauren Angelilli and associate Rebecca L. Fine on tax matters; partner Matthew Morreale on environmental matters; senior attorney Joyce Law and practice area attorneys Brian M. Budnick and Lauren R. Berkowitz on real estate matters; and practice area attorney Anthony N. Magistrale on intellectual property matters. Michael Svedman also worked on M&A matters.
Related Practices & Industries
People
- Photo
-
-
J.D., 1991, Harvard Law Schoolmagna cum laude
-
B.A., 1987, University of California, Berkeleywith Highest Distinction, Phi Beta Kappa
- New York
- California (Inactive)
- District of Columbia (Inactive)
Education
Admitted In
- Photo
-
-
J.D., 2006, Stanford Law School
-
A.B., 2003, Harvard CollegePhi Beta Kappa, summa cum laude
- New York
Education
Admitted In
- Photo
-
-
J.D., 2014, Columbia Law SchoolHarlan Fiske Stone Scholar
-
B.A., 2010, Boston CollegeCollege of Arts and Sciences Honors Program, cum laude
- New York
Education
Admitted In
- Photo
-
-
J.D., 1998, University of Chicago Law Schoolwith Honors
-
A.B., 1995, Princeton University
- New York
Education
Admitted In
- Photo
-
-
J.D., 2012, Harvard Law Schoolmagna cum laude
-
M.A., 2009, University of Pennsylvania
-
B.A., 2009, University of PennsylvaniaPhi Beta Kappa, summa cum laude
- New York
Education
Admitted In
- Photo
-
-
J.D., 1998, Columbia Law SchoolHarlan Fiske Stone Scholar
-
B.A., 1995, Duke University
- New York
Education
Admitted In
-
J.D., 2000, Harvard Law Schoolcum laude
-
B.S., 1996, The Wharton School of the University of Pennsylvaniamagna cum laude
- New York
Education
Admitted In
- Photo
-
-
J.D., 1997, Columbia Law SchoolHarlan Fiske Stone Scholar
-
M.S., 1994, University of Pennsylvania
-
B.A., 1990, University of Pennsylvania
-
B.A.S., 1990, University of Pennsylvania
- New York
Education
Admitted In
-
J.D., 1997, Boston University School of Law
-
B.Comm., 1994, University of AlbertaDistinction
- New York
Education
Admitted In
- Photo
-
-
J.D., 2011, Benjamin N. Cardozo School of Lawcum laude
-
B.A., 2006, University of Virginia
- New York
Education
Admitted In
- Photo
-
-
J.D., 1987, Fordham University School of Lawcum laude
-
B.A., 1984, University of Pennsylvaniacum laude
Education
Related News
Deals & Cases
October 04, 2024
DRI Healthcare Trust’s Acquisition of Payment Streams Based on the Cas9 Gene‑Editing Technology for CASGEVY®
On October 3, 2024, DRI Healthcare Trust, a global leader in providing financing to advance innovation in the life sciences industry, announced that one of its wholly owned subsidiaries acquired a portion of Editas Medicine, Inc.'s payment rights under a non‑exclusive license of Editas' Cas9 gene‑editing technology for CASGEVY®, the only approved gene‑edited cell therapy for sickle cell disease and transfusion‑dependent beta thalassemia, for an upfront purchase price of $57 million. The transaction entitles DRI Healthcare to specific payments based on a sublicensing agreement between Editas and Vertex Pharmaceuticals Incorporated. The payments include a share of the annual license fees that Vertex pays to Editas, which can range from $5 million to $40 million, including certain sales‑based annual license fee increases, and a portion of a $50 million contingent payment to which Editas is eligible under the Vertex sublicensing agreement. Cravath is representing DRI Healthcare in connection with the transaction.
Deals & Cases
September 05, 2024
Frontier’s $20 Billion Acquisition by Verizon
On September 5, 2024, Verizon Communications Inc. and Frontier Communications Parent, Inc. (“Frontier”), the largest pure‑play fiber provider in the U.S., announced they have entered into a definitive agreement for Verizon to acquire Frontier in an all‑cash transaction valued at $20 billion. Cravath is representing Frontier in connection with the transaction.
Deals & Cases
May 07, 2024
Ashland’s Sale of its Nutraceuticals Business to Turnspire Capital Partners
On May 7, 2024, Ashland Inc. (“Ashland”), a global additives and specialty ingredients company, announced that it has signed a definitive agreement to sell its nutraceuticals business to Turnspire Capital Partners LLC. Cravath is representing Ashland in connection with the transaction.
Deals & Cases
April 02, 2024
Endeavor’s $25 Billion Take‑Private Acquisition by Silver Lake
On April 2, 2024, Endeavor Group Holdings, Inc. (“Endeavor”), a global sports and entertainment company, announced that it has entered into a definitive agreement to be acquired by Silver Lake, the global leader in technology investing, in partnership with the Endeavor management team and additional anchor investors. Cravath is representing the independent Special Committee of Endeavor’s board of directors in connection with the transaction.
