Actavis to Acquire Durata Therapeutics, Inc.

Actavis to Acquire Durata Therapeutics, Inc.

News

On October 6, 2014, WilmerHale client Durata Therapeutics announced that it had entered into a definitive merger agreement with Actavis plc under which a subsidiary of Actavis will commence a tender offer to acquire all of the outstanding shares of Durata common stock for $23 per share in cash, or approximately $675 million in the aggregate, and contingent value rights entitling the holder to receive additional cash payments of up to $5 per share if certain regulatory or commercial milestones related to Durata's lead product DALVANCEā„¢ are achieved. Durata Therapeutics is an innovative pharmaceutical company focused on the development and commercialization of novel therapeutics for patients with infectious diseases and acute illnesses.

The WilmerHale team representing Durata Therapeutics includes Corporate Partners Brian Johnson, Jay Bothwick and Joseph Conahan, Senior Associate Chris Barnstable-Brown and Associate Mhairi Collins Immermann, and Tax Partners Kimberly Wethly, Scott Kilgore and Matt Schnall, as well as Senior Associate Ciara Baker.

The complete release with details of the transaction can be found on Durata Therapeutics' site.