February 18, 2014
Actavis plc (NYSE: ACT) has announced that it will acquire Forest Laboratories, Inc. (NYSE: FRX) for a combination of cash and equity valued at approximately $25 billion. The transaction will combine two of the world’s fastest-growing specialty pharmaceutical companies, with combined annual revenues of over $15 billion anticipated for 2015.
Latham & Watkins advised Actavis in the transaction with a corporate team led by Orange County partners Scott Shean and Charles Ruck and New York partner Stephen Amdur. Assistance was also provided on capital markets matters by New York partner Wesley Holmes, finance by partner Daniel Seale with associate Jesse Sheff, tax by Los Angeles partner Laurence Stein and Washington, D.C. partner Nicholas DeNovio, and on benefits and compensation matters by Jim Barrall. Attorneys of the firm also have advised on intellectual property, environmental, regulatory and compliance matters.This is the fourth multi-billion cross-border transaction for Actavis in the last five years in which Latham has advised Actavis (or the former Watson Pharmaceuticals), which have resulted in Actavis’ market capitalization rising from approximately $3 billion in 2009 to a projected $55 billion following this transaction.