Shearman & Sterling is representing global pharmaceutical company GlaxoSmithKline in its acquisition of oncology-focused biopharmaceutical company Tesaro. The proposed transaction will significantly strengthen GSK’s pharmaceutical business, accelerating the build of GSK’s pipeline and commercial capability in oncology.
The acquisition price of $75 per share in cash represents a 110 percent premium to Tesaro’s 30-day volume weighted average price of $35.67 and an aggregate consideration of about $5.1 billion including the assumption of Tesaro’s net debt.
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