New York, NY (Vocus) June 22, 2010
Valeant Pharmaceuticals (NYSE:VRX) and Biovail (MYSE/TSX:BVF) have announced they have entered into a definitive merger agreement under which the companies would combine. Greenberg Traurig is representing Jefferies & Company, Inc. as financial advisor to Valeant in the transaction, which is valued at $3.3 billion. The Greenberg Traurig team was led by David Schwartzbaum, co-chair of the firm’s Global M&A Steering Committee, and Michael Helsel, both shareholders in the New York office.
Under the terms of the merger agreement, Valeant stockholders will receive a one-time special cash dividend of $16.77 per share immediately prior to the closing of the merger and 1.7809 shares of Biovail common stock upon closing of the merger in exchange for each share of Valeant common stock they own. The merger is expected to close before the end of the year.
About Greenberg Traurig, LLP
Greenberg Traurig, LLP is an international, full-service law firm with approximately 1775 attorneys serving clients from more than 30 offices in the United States, Europe and Asia. In the U.S., the firm has more offices than any other among the Top 20 on The National Law Journal’s 2008 NLJ 250. In the U.K., the firm operates as Greenberg Traurig Maher LLP. Additionally, Greenberg Traurig has strategic alliances with the following independent law firms: Studio Santa Maria in Milan and Rome, TA Lawyers GKJ in Tokyo, and Weber Law Office in Zürich. The firm was Chambers and Partners' USA Law Firm of the Year in 2007 and among the Top 3 in the International Law Firm of the Year at the 2009 The Lawyer Awards. For additional information, please visit http://www.gtlaw.com.