IFLR1000

Acorda $363 million acquisition of the Biotie Therapies Corporation

19/1/2016
Public acquisition
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$ 363 million

Completed

19/1/2016

Overview:

  • Acorda Therapeutics won a public tender for the Biotie Therapies Corporation for a total consideration of $363 million.
  • The offer was made in both Finland and the United States and included all the issued and outstanding shares, American Depository Shares and other equity instruments issued by Biotie that are owned by other shareholders.
  • The transaction involved a full 'Tier 3' public tender offer in both Finland and the US, the first ever example of this type of acquisition in the Finnish market.

Wai Yee Tsang - Journalist

Jurisdictions:

United States
Finland

Deal type:

Public acquisition

Practice area:

M&A

Governing laws:

United States
Finland

Industry sector:

Pharmaceuticals and life sciences

Firms:
Covington & Burling

Party: Acorda Therapeutics (Acquirer)

Davis Polk & Wardwell

Party: Biotie Therapies Corporation (Target)

Lawyers: Lee Hochbaum, Michael Davis

Hannes Snellman

Party: Biotie Therapies Corporation (Target)

Lawyers: Heikki Vesikansa, Klaus Ilmonen, Sonja Siggberg

Jones Day

Party: Acorda Therapeutics (Acquirer)

Kirkland & Ellis

Party: Acorda Therapeutics (Acquirer)

Lawyers: Daniel Wolf, Sophia Hudson, Willard Boothby

Roschier

Party: Acorda Therapeutics (Acquirer)

Lawyers: Antti Ihamuotila, Manne Airaksinen

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