Veloxis Pharmaceuticals’ $1.3 Billion Tender Offer

K&L Gates LLP has advised Veloxis Pharmaceuticals A/S (OMX: VELO) on the pending tender offer of its shares by Asahi Kasei Pharma Denmark A/S.

Under the terms of the transaction agreement, Asahi Kasei Pharma Denmark A/S will make a recommended conditional voluntary public offer to purchase all of the issued and outstanding shares and warrants in Veloxis totaling US$1.3 billion, with Veloxis shareholders and warrant holders representing 81.2% of the company’s share capital (on a fully diluted basis) having entered agreements to accept the offer.

A Danish company listed on NASDAQ Copenhagen, Veloxis Pharmaceuticals A/S is a commercial-stage specialty pharmaceutical company committed to improving the lives of transplant patients. Veloxis Pharmaceuticals A/S operates in the U.S. through Veloxis Pharmaceuticals Inc., a wholly-owned subsidiary headquartered in Cary, N.C.

Asahi Kasei Pharma Denmark A/S, a wholly-owned subsidiary of Asahi Kasei Corporation (TYO: 3407), is a Japanese public corporation listed on the Tokyo Stock Exchange. Its health care operations include devices and systems for acute critical care, dialysis, therapeutic apheresis, transfusion, and manufacture of biotherapeutics, as well as pharmaceuticals and diagnostic reagents.

The K&L Gates cross-border, cross-platform team advised Veloxis on a broad range of areas that included M&A, securities law, corporate governance, FDA regulatory, benefits, employment, compliance, international trade regulation, insurance, and antitrust law, among others. The K&L Gates team was led by Margaret Rosenfeld (Picture), and included Raleigh partners Mikal Shaikh, Amy Wallace, and David Lindsay; Research Triangle Park partner Michael Hinckle; San Francisco partner Ali Nardali; Washington, D.C., partners Allen Bachman and Steven Hill; Brussels partner Francesco Carloni; Wilmington partner Lisa Stark; Pittsburgh partner Todd Gibson, and Charleston partner Jennifer Thiem, as well as a number of other lawyers.

Involved fees earner: Allen Bachman – K&L Gates; Francesco Carloni – K&L Gates; Todd Gibson – K&L Gates; Steven Hill – K&L Gates; Michael Hinckle – K&L Gates; David Lindsay – K&L Gates; Ali Nardali – K&L Gates; Margaret Rosenfeld – K&L Gates; Mikal Shaikh – K&L Gates; Lisa Stark – K&L Gates; Jennifer Thiem – K&L Gates; Amy Wallace – K&L Gates;

Law Firms: K&L Gates;

Clients: Veloxis Pharmaceuticals;

Author: Ambrogio Visconti