Thermo Fisher Scientific’s $17.4 Billion Acquisition of PPD

Simpson Thacher represented PPD in the transaction, while Debevoise & Plimpton LLP advised J.P. Morgan Securities LLC as financial advisor to PPD Inc.

Thermo Fisher Scientific Inc. (NYSE: TMO) entered into a definitive agreement to acquire PPD, Inc. (Nasdaq: PPD). Under the terms of the transaction, 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. Upon close of the transaction, PPD will become part of Thermo Fisher’s Laboratory Products and Services Segment.

Thermo Fisher is the world leader in serving science, whose mission is to enable its customers to make the world healthier, cleaner and safer. Thermo Fisher delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through its industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services and Patheon.

PPD is a leading global clinical research organization and has been in the drug development business for 35 years. PPD provides comprehensive, integrated drug development, laboratory and lifecycle management services to companies and other participants in the biopharmaceutical industry.

The Simpson Thacher team advising PPD included Alan Klein (Picture), Atif Azher, Mark Myott, Usman Arain, Megan Whitman, Michaela Dion, Marina Hernandez and Grace Bowers (M&A); William Brentani (Capital Markets); Brian Steinhardt (Credit); Jeannine McSweeney, Joo Hyun Lee and Alan Fenyes (Executive Compensation and Employee Benefits); Russell Light (Tax); Lori Lesser, Amber Harezlak and Kate Mirino (Intellectual Property); Vanessa Burrows (Healthcare); Sara Razi, Kelly Karapetyan, John Goheen, Jamie Logie and Andrew Jensen (Antitrust); Abram Ellis, Mick Tuesley, Mark Skerry, Jennifer Ho and Samantha Sergent (Regulatory); and James Rapp (Public Company Advisory Practice).

Debevoise & Plimpton LLP advised J.P. Morgan Securities LLC with M&A partner Andrew Bab.

Involved fees earner: Andrew Bab – Debevoise & Plimpton; Usman Arain – Simpson Thacher & Bartlett; Atif Azher – Simpson Thacher & Bartlett; Grace Bowers – Simpson Thacher & Bartlett; William Brentani – Simpson Thacher & Bartlett; Vanessa Burrows – Simpson Thacher & Bartlett; Michaela Dion – Simpson Thacher & Bartlett; Abram Ellis – Simpson Thacher & Bartlett; Alan Fenyes – Simpson Thacher & Bartlett; John Goheen – Simpson Thacher & Bartlett; Amber Harezlak – Simpson Thacher & Bartlett; Marina Hernandez – Simpson Thacher & Bartlett; Jennifer Hobbs – Simpson Thacher & Bartlett; Andrew Jensen – Simpson Thacher & Bartlett; Kelly Karapetyan – Simpson Thacher & Bartlett; Alan Klein – Simpson Thacher & Bartlett; Joo Hyun Lee – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Russell Light – Simpson Thacher & Bartlett; James Logie – Simpson Thacher & Bartlett; Jeannine McSweeney – Simpson Thacher & Bartlett; Kate Mirino – Simpson Thacher & Bartlett; Mark Myott – Simpson Thacher & Bartlett; James Rapp – Simpson Thacher & Bartlett; Sara Razi – Simpson Thacher & Bartlett; Samantha Sergent – Simpson Thacher & Bartlett; Mark Skerry – Simpson Thacher & Bartlett; Brian Steinhardt – Simpson Thacher & Bartlett; Malcolm Tuesley – Simpson Thacher & Bartlett; Megan Whitman – Simpson Thacher & Bartlett;

Law Firms: Debevoise & Plimpton; Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC; Pharmaceutical Product Development;

Author: Martina Bellini