M&A deals of the year
In March last year, Swiss pharmaceutical leader Roche
successfully completed a $46.8 billion acquisition of
Genentech, a biotechnology company based in San Francisco. The
deal is the largest-ever completed going-private transaction
and it ended Roches eight-month battle to acquire the
final 44% of the target that it desired.
Negotiations began in July 2008 and Roche was immediately on
the back foot as a group of shareholders in Genentech launched
a law suit to block any potential deal. The trenches were dug
and the legal teams were at the forefront of the hard fought
battle that impressed peers greatly.
Davis Polk & Wardwell was US lead counsel to Roche.
Homburger provided Swiss advise to Roche regarding the
financing of the transaction. Wilson Sonsini Goodrich &
Rosati advised Genentech, with Latham & Watkins
representing Genentechs special committee. Skadden Arps