find the latest legal job
Senior Associate - Competition, Policy & Regulatory
Category: Other | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Work with a well regarded Partner · Sydney CBD
View details
Commercial Litigation Senior Associate
Category: Litigation and Dispute Resolution | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Lawyers Weekly Australia Partner of the Year 2016, Insolvency
View details
MULTIPLEX Regional Legal Counsel (Vic) | 7 to 10 years + PQE
Category: Generalists - In House | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Career defining in-house role · Tier One international contractor
View details
Junior Lawyer - Personal Injury Law
Category: Personal Injury Law | Location: Parramatta & Western Suburbs Sydney NSW
· Highly specialized practice · Challenging role with great opportunities
View details
IR Advisor/Member Advocate
Category: Industrial Relations and Employment Law | Location: St Leonards NSW 2065
· Permanent (0.8-1.0 FTE) role in a developing team
View details
Bakers acts for buyer of Mayne offshoot

Bakers acts for buyer of Mayne offshoot

BAKER & MCKENZIE is acting for Hospira in its proposed acquisition of Mayne Pharma via a scheme implementation agreement.US-based Hospira offered $4.10 per share for ASX-listed company Mayne…

BAKER & MCKENZIE is acting for Hospira in its proposed acquisition of Mayne Pharma via a scheme implementation agreement.

US-based Hospira offered $4.10 per share for ASX-listed company Mayne Pharma, valuing it at $2.6 billion, a 37.1 per cent premium to its volume weighted average price for the five days ending September 18, 2006.

The directors of Mayne Pharma have unanimously endorsed the purchase, and have urged shareholders to endorse the plan unless there is a better offer or an independent expert they have engaged says it is not in the best interests of the company’s shareholders.

According to Hospira CEO Christopher Begley, the purchase will create the leading “generic injectable pharmaceuticals company in the world”.

The principal Baker & McKenzie partners on the deal are Ben McLaughlin and Stephen Glanz. The lawyers involved declined to comment before the deal was finalised.

Clayton Utz is the legal adviser to Mayne Pharma on the deal.

The purchase is subject to several conditions, including shareholder agreement at a meeting due to be held in early December, court approval of the scheme and approval by the Foreign Investment Review Board.

Hospira is one of the largest manufacturers of hospital products in the US. Mayne Pharma was demerged from the Mayne Group late last year. It specialises in developing, manufacturing and distributing medicines used by oncologists.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Bakers acts for buyer of Mayne offshoot
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Human body, illegal organ trafficking, ALHR
Sep 22 2017
Australia poised to combat illegal organ harvesting: ALHR
The Australian Lawyers for Human Rights are calling for changes to the law so that organ trafficking...
Online service, barristers, BarristerSELECT, Stephen Foley
Sep 22 2017
New online service leverages barristers’ clerks to aid briefing
A new online tool has been launched to help NSW solicitors find the most suitable barristers for the...
NSW District Court judge, Tim Gartelmann SC, next appointment,
Sep 22 2017
Silk replaces outgoing NSW District Court judge
A barrister has been named as the next appointment to the NSW District Court, following the retireme...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...