Cravath team advises Lundbeck on acquisition of Chelsea Therapeutics

Saeed, Chen and Conway instrumental in success of the deal

Cravath, Swaine & Moore LLP Partners Faiza J. Saeed, Ting S. Chen and Jennifer S. Conway served on the team that advised H. Lundbeck A/S with its recent acquisition of Chelsea Therapeutics International, Ltd. The deal could be worth up to $658 million, according to Cravath.

Under the terms of the agreement, Lundbeck will commence a tender offer for all outstanding shares of Chelsea, whereby Chelsea stockholders will be offered an upfront payment and contingent value rights, representing a total potential consideration of up to $7.94 per share, or $658 million on a fully diluted basis. The board of directors of Chelsea has unanimously approved the transaction, which is expected to close in the third quarter of 2014.

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