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Latham Advises Novo Holdings in Cinven’s Public Acquisition Offer of Synlab

September 29, 2023
Corporate team represents Novo Holdings on the sale of its shares in clinical laboratory and medical diagnostic services company.

Latham & Watkins has advised Novo Holdings A/S (Novo Holdings) in negotiating an irrevocable undertaking with Cinven, in which Novo Holdings agrees to sell its shares in Synlab AG (Synlab), a leading European clinical laboratory and medical diagnostic services company, in a public acquisition offer.

Cinven offers Synlab shareholders a cash consideration of €10 per share. The offer price represents a premium of approximately 42% to the XETRA closing share price of SYNLAB AG on March 10, 2023. The offer is subject to customary regulatory approvals. It will not contain a minimum acceptance threshold.

The Latham team was led by Hamburg partner Henning C. Schneider with partner Dirk Kocher and counsel Andreas Lönner. Latham advised Novo Holdings together with the Danish law firm Kromann Reumert.