Skadden is advising the Buyer Consortium led by GL Capital, which announced June 8, 2017, that it has entered into a definitive merger agreement under which it will acquire all the outstanding shares of SciClone Pharmaceuticals, Inc. for $11.18 per share in cash.
The transaction will be funded by the Buyer Consortium through a combination of equity financing to be provided by the Buyer Consortium and debt financing, and is not subject to a financing condition. The transaction, which was unanimously approved by SciClone’s Board, values the Company at approximately $605 million. The transaction, which is expected to close this calendar year, is subject to approval by SciClone stockholders and other customary closing conditions.
The Skadden team includes Corporate partner Peter Huang (Picture) and associates Yeping Huang and Min Lu. All of the attorneys are based in Beijing.
Law Firms: Skadden Arps Slate Meager & Flom;
Clients: GL Capital Partners, LLC;