Abbott acquires Facet Biotech for $722 million
Clients 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.