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Abbott acquires Facet Biotech for $722 million

April 2010

Client(s) Abbott Laboratories

Jones Day advised Abbott Laboratories in its acquisition of Facet Biotech Corporation for $27 per share in cash for a net transaction value of approximately $450 million, which includes a purchase price of approximately $722 million less Facet's projected cash and marketable securities at closing of approximately $272 million. The acquisition brings access to biologics in two key therapeutic areas, immunology and oncology.

In addition to M&A representation, Jones Day provided antitrust, benefits, regulatory, and IP advice regarding this transaction.

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