Simpson Thacher is representing Alpharma Inc. in connection with its announced acquisition by King Pharmaceuticals, Inc., for total consideration of approximately $1.6 billion.
Under the terms of the merger agreement, King will acquire all of the outstanding shares of Alpharma common stock for $37.00 in cash per share and Alpharma will become a wholly-owned subsidiary of King. The transaction, which is expected to close by the end of 2008, is subject to approval by Alpharma shareholders, regulatory approvals and customary closing conditions.
Alpharma is an NYSE-listed global specialty pharmaceutical company based in Bridgewater, NJ. King, headquartered in Bristol, Tennessee, is a vertically integrated branded pharmaceutical company.
The Simpson Thacher team representing Alpharma includes Bill Dougherty, Mario A. Ponce, Anthony D. King, Chris May, Amie Siebert and Scott Reardon (M&A), Alvin Brown and Beth Understahl (Employee Benefits), Steve Todrys and Sima Gandhi (Tax), Michael J. Chepiga, Paul C. Gluckow, Jason S. Stone, Marsha W. Yee, Ihsan Dogramaci, Sonya Mirbagheri and Joshua Slocum (Litigation) and Joe Tringali and Ketan Jhaveri (Antitrust).