Skadden on $886 Million Otsuka Acquisition
Skadden, Arps, Slate, Meagher & Flom is advising Japan’s Otsuka Pharmaceutical Co. Ltd. on its proposed $886 million acquisition of Dublin, Calif.-based Astex Pharmaceuticals Inc.
Astex is known for its cancer treatments. Otsuka is seeking to expand its own oncology portfolio and research and development capabilities in the space.
The all-cash deal is subject to shareholder approval and is expected to close in the fourth quarter.
Skadden Palo Alto partners Kenton King and Joseph Yaff and Tokyo partner Mitsuhiro Kamiya led the team acting for Otsuka.
Wilson Sonsini Goodrich & Rosati Palo Alto partner Page Mailliard is representing Astex.*
*Updated, 9/11/13: This story was updated to include the role of Wilson Sonsini partner Page Mailliard as adviser to Astex.