IFLR1000

Endo International $8.05 billion acquisition of Par Pharmaceutical Holdings

28/9/2015
Investment grade bond/note issue, Private acquisition
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$ 8.05 billion

Announced

28/9/2015

Overview:

  • Endo International has agreed to acquire Par Pharmaceutical Holdings for $8.05 billion from TPG Capital.
  • The deal consists of $1.55 billion in stock and $4.1 billion in cash and the taking on of $2.4 billion of Par’s debt.
  • The deal will create one of the five largest generic drugmakers in the US.
  • The deal comes after Endo made an unsuccessful bid for Salix Pharmaceuticals.
  • Endo moved its HQ to Dublin in 2014.
  • Deutsche Bank and Barclays acted as lenders on the deal.
  • Endo also issued $1.635 billion in senior unsecured notes to help finance the deal.
  • JPMorgan Chase advised Par as financial adviser.

Sam Duke - Editor

Jurisdictions:

United States
Ireland
Luxembourg

Deal types:

Investment grade bond/note issue
Private acquisition

Practice areas:

Private equity
M&A

Industry sector:

Pharmaceuticals and life sciences

Firms:
A&L Goodbody

Party: Endo International (Acquirer)

Lawyers: Peter Murray, Sheena Doggett

Matheson LLP

Party: TPG Capital (Seller)

Lawyers: Fergus Bolster, George Brady, Patrick Spicer

NautaDutilh

Party: Deutsche Bank AG Na ON (Lender)

Lawyer: Josée Weydert

Ropes & Gray

Party: Par Pharmaceutical Holdings (Target)

Lawyers: Michael Roh, William Shields

Skadden Arps Slate Meagher & Flom

Party: Endo International (Acquirer)

Lawyer: Michael Chitwood

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