Martek Biosciences Corp./Royal DSM N.V.
On December 21, 2010, Royal DSM N.V. and Martek Biosciences Corporation (Nasdaq: MATK) announced that they had entered a definitive agreement whereby DSM will acquire all outstanding shares of Martek for $31.50 per share in cash, or a total consideration of $1.087 billion.
The transaction, which will be completed through a tender process, is expected to close in Q211. It is not subject to a financing condition, and DSM intends to finance the acquisition from existing cash.
Allen & Company LLC is serving as exclusive financial advisor to Martek in the transaction. Hogan Lovells US LLP is serving as legal counsel to Martek and Morris, Nichols, Arsht & Tunnell LLP is serving as legal counsel to Martek's independent directors.
JP Morgan plc is serving as financial advisor to DSM, and Cleary Gottlieb Steen & Hamilton LLP is serving as legal counsel to DSM.
The transaction, which will be completed through a tender process, is expected to close in Q211. It is not subject to a financing condition, and DSM intends to finance the acquisition from existing cash.
Allen & Company LLC is serving as exclusive financial advisor to Martek in the transaction. Hogan Lovells US LLP is serving as legal counsel to Martek and Morris, Nichols, Arsht & Tunnell LLP is serving as legal counsel to Martek's independent directors.
JP Morgan plc is serving as financial advisor to DSM, and Cleary Gottlieb Steen & Hamilton LLP is serving as legal counsel to DSM.
