Latham & Watkins Advises Prometheus Biosciences in US$10.8 Billion Acquisition by Merck

Merck (NYSE: MRK), known as MSD outside the United States and Canada, and Prometheus Biosciences, Inc. (Prometheus) (Nasdaq: RXDX) have announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, has agreed to acquire Prometheus for US$200.00 per share in cash for a total equity value of approximately US$10.8 billion.

Latham & Watkins LLP represents Prometheus in the transaction with a corporate deal team led by Orange County partner Daniel Rees and San Diego partners Matthew Bush and Cheston Larson, with associates Brian Umanoff, Abby Timmons, Jack McKay, and Jack Vanderford. Advice was also provided on benefits and compensation matters by San Diego partner Holly Bauer and Washington, D.C. counsel Laura Szarmach, with associate Julie Voorhes; on regulatory matters by Washington, D.C. partner Ben Haas, Bay Area partner Betty Pang, and Washington, D.C. counsel Chad Jennings; on antitrust matters by Bay Area partner Josh Holian, with associate Kevin Wu; on intellectual property matters by Bay Area partner Chris Hazuka, with associates Robert Yeh and Kristina Funahashi; on tax matters by Century City partner Samuel Weiner, with associate Seung (Sam) Yang; and on data privacy matters by Bay Area partner Heather Deixler.