Supernus Pharmaceuticals’ $450 Million Acquisition of Adamas Pharmaceuticals

Davis Polk advised Lazard as financial adviser to Adamas Pharmaceuticals on the deal while Saul Ewing Arnstein & Lehr represented Supernus.

Adamas Pharmaceuticals announced its $450 million acquisition by Supernus Pharmaceuticals through a tender offer for $8.10 per share in cash payable at closing plus two non-tradable contingent value rights each worth $0.50 per share in cash payable upon achievement of certain milestones by the end of 2024 and 2025, respectively. 

Supernus Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases. Adamas Pharmaceuticals delivers innovative medicines that reduce the burden of neurological diseases on patients, caregivers and society. Adamas is a fully integrated company focused on growing a portfolio of therapies to address a range of neurological diseases. 

The Davis Polk corporate team included partner Phillip R. Mills (Picture) and associate Katey Peardon.

The Saul Ewing Arnstein & Lehr team of 20-plus attorneys was led by Mark Gruhin. George Naya and John Crozier assisted on public securities; Jay Reilly, Dennis Brennan and Michael Gold with due diligence and M&A; Charlie Monk and Doug Sampson with litigation matters; Michael Finio with Hart-Scott-Rodino (HSR) antitrust issues; Dena Calo and Lisa Koblin with employment issues; David Strosnider with employee benefits; and Stanley Kull with tax matters.

 

Involved fees earner: Phillip Mills – Davis Polk & Wardwell; Katey Peardon – Davis Polk & Wardwell; Dennis Brennan – Saul Ewing Arnstein & Lehr LLP; Dena Calo – Saul Ewing Arnstein & Lehr LLP; John Crozier – Saul Ewing Arnstein & Lehr LLP; David Strosnider – Saul Ewing Arnstein & Lehr LLP; Michael Finio – Saul Ewing Arnstein & Lehr LLP; Michael Gold – Saul Ewing Arnstein & Lehr LLP; Mark Gruhin – Saul Ewing Arnstein & Lehr LLP; Lisa Koblin – Saul Ewing Arnstein & Lehr LLP; Stanley Kull – Saul Ewing Arnstein & Lehr LLP; Charles Monk – Saul Ewing Arnstein & Lehr LLP; George Naya – Saul Ewing Arnstein & Lehr LLP; Jay Reilly – Saul Ewing Arnstein & Lehr LLP; Douglas Sampson – Saul Ewing Arnstein & Lehr LLP;

Law Firms: Davis Polk & Wardwell; Saul Ewing Arnstein & Lehr LLP;

Clients: Lazard; Supernus Pharmaceuticals;

Author: Alejandro Girola