Cravath’s New York Office Moves to Two Manhattan West
Cravath partner Ting S. Chen was featured as a 2022 “Dealmaker of the Year” in the April issue of The American Lawyer. Ting was selected for the annual feature for her representation of Thermo Fisher Scientific in its acquisition of PPD, Inc. The profile highlighted the complexities of the $20.9 billion transaction, including the need to navigate an evolving regulatory landscape where “regulators’ approach to pharma M&A was in flux” as countries around the world enhanced their merger control and FDI scrutiny in part as a result of the pandemic.
Deals & Cases
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.
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