Teva Pharmaceutical/Cephalon
On May 2, 2011, Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) and Cephalon, Inc. (Nasdaq: CEPH), entered into a definitive agreement whereby Teva will acquire all of the outstanding shares of Cephalon for $81.50 per share in cash, or a total enterprise value of approximately $6.8 billion.
Closing is expected in Q311.
The transaction has no financing condition. Teva intends to finance the transaction through cash on hand, lines of credit and the public debt market.
Credit Suisse Securities (USA) LLC is serving as Teva’s financial advisor, and Kirkland & Ellis LLP is serving as its legal counsel. Deutsche Bank Securities Inc. and BofA Merrill Lynch are serving as Cephalon’s financial advisors, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as its legal counsel.
Closing is expected in Q311.
The transaction has no financing condition. Teva intends to finance the transaction through cash on hand, lines of credit and the public debt market.
Credit Suisse Securities (USA) LLC is serving as Teva’s financial advisor, and Kirkland & Ellis LLP is serving as its legal counsel. Deutsche Bank Securities Inc. and BofA Merrill Lynch are serving as Cephalon’s financial advisors, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as its legal counsel.
