Baker McKenzie Client Lundbeck to Acquire Longboard in USD 2.6 Billion Transaction

Baker McKenzie client H.Lundbeck A/S (Lundbeck) has announced an agreement with Longboard Pharmaceuticals, Inc. (Longboard) for Lundbeck to acquire Longboard. Under terms of the agreement, Lundbeck will commence a tender offer for all outstanding shares of Longboard common stock, whereby Longboard shareholders will be offered a payment of USD 60.00 per share in cash. The transaction is valued at approximately USD 2.6 billion equity value and USD 2.5 billion (approximately DKK 17 billion) net of cash, on a fully diluted basis.

The proposed acquisition represents a significant step forward in Lundbeck's Focused Innovator strategy, adding a highly innovative and complementary product in late-stage development for Developmental and Epileptic Encephalopathies (DEEs) - an area of high unmet medical need. The merger will occur as soon as practicable after the closing of the tender offer.

Led by Transactional Partners Alan Zoccolillo (New York), Piotr Korzynski (Chicago) and Randall Sunberg (New York) and Associate Gvantsa (Gwen) Karanadze (New York), the Baker McKenzie team advising Lundbeck includes:

M&A: Natalie Gallon (Chicago), Kamari Koonce (Chicago), Aubrey Kelley (New York), Christopher Lapp (DC)

Tax:Kai Kramer (Houston), Ross Staine (Houston)

Employee Benefits & Executive Compensation: Thomas Asmar (Palo Alto), Sesen Hailemichael (San Francisco), M'Alyssa Mecenas (Los Angeles)

Trade: Rod Hunter (DC), Lise Test (DC), Alex Kumar (DC)

Data Privacy: Adam Aft (Chicago), Jessica Greenwald (Dallas), Mariana Oliver (Chicago), Marcela Pertusi (New York)

Real Estate: Sarah Winston (Chicago), Sarah Swain (San Francisco), Amanda Jaramillo (London)

Environmental: Jessica Wicha (Chicago)

Regulatory: Xin Tao (DC), Lois Sheng Liu (DC)

Labor: Amanda Cohen (San Francisco)

Antitrust: Creighton Macy (DC), Halli Spraggins(DC), Daniel Graulich (DC), Dukki Moon (DC)

Finance: Kevin Whittam (New York), Estefania Lalinde (Miami)

Litigation: Barry Thompson (Los Angeles), Peter Chan (DC)

The deal is emblematic of the breadth and depth of Baker McKenzie's cross-border experience advising healthcare and life sciences companies on their most business critical transactions. As one of the first law firms to advise life sciences corporates on their global expansion 60 years ago, the Firm's knowledge is rooted in its DNA, with more than 800 dedicated lawyers focused on the sector in more than 45 jurisdictions, including the 10 largest life sciences markets globally.

Located in financial centers and emerging markets, Baker McKenzie is a transactional powerhouse. The Firm excels in complex, cross-border transactions; over 65% of our deals are multi-jurisdictional. Baker McKenzie has been consistently recognized as a top-three firm for cross-border M&A by volume over the past decade.

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