Pfizer’s $6.7 Billion Acquisition of Arena Pharmaceuticals

Ropes & Gray advised Pfizer Inc. in the deal, while Cooley represented Arena Pharmaceuticals. Debevoise & Plimpton advised Evercore Group and Guggenheim Securities as financial advisors to Arena Pharmaceuticals.

Pfizer Inc. closed its definitive agreement to acquire Arena Pharmaceuticals, Inc. Under the terms of the agreement, Pfizer will acquire all the outstanding shares of Arena for $100 per share in an all-cash transaction for a total equity value of approximately $6.7 billion. The boards of directors of both companies have unanimously approved the transaction. 

Area Pharmaceuticals is a clinical stage company developing innovative potential therapies for the treatment of several immuno-inflammatory diseases. Pfizer is  one of the world’s premier innovative biopharmaceutical companies. 

The Ropes & Gray team that represented Pfizer was led by mergers & acquisitions partner Emily Oldshue (Picture; Boston), and included mergers & acquisitions partner Paul Kinsella (Boston), benefits partners Loretta Richard and Renata Ferrari (both of Boston), commercial & securities litigation partner Rocky Tsai (San Francisco), tax partner David Saltzman (Boston), real estate partner Peter Alpert (Boston), life sciences regulatory & compliance partner Joshua Oyster (Washington, D.C.), life sciences partner Amanda Austin (Boston), mergers & acquisitions counsel Aileen Kim (New York), health care counsel Leslie Thornton (San Francisco), real estate counsel Chrystal LaRoche (New York) and litigation & enforcement counsel Patrick Welsh (Boston).

The Cooley team was led by Jamie Leigh, Kevin Cooper and Steve Przesmicki. Additional assistance was provided by Jacqueline Grise, Jeff Tolin, Alexander Israel, Barbara Mirza, Peter Adams, Philip Mitchell, Adriana Wirtz, Mika Reiner Mayer, Natasha Leskovsek, Matt Silverman, Christine Graham, Stella Sarma, Asa Henin, Sangitha Palaniappa, Maya Rahwanji, Heidi Wang, David Burns, Daniel Herrmann, Matteo Negro, Eileen Leman, Ross Eberly, Kyrsten Lundh, Patrick Sharma, Allison Kutner, Andrew Epstein, Dionne Thomas, Penelope Hale and Madhuri (Mani) Roy.

The Debevoise team was led by M&A partner Andrew Bab and included associate Caroline Brown.

Involved fees earner: Peter Adams – Cooley LLP; David Burns – Cooley LLP; Kevin Cooper – Cooley LLP; Ross Eberly – Cooley LLP; Andrew Epstein – Cooley LLP; Christine Graham – Cooley LLP; Jacqueline Grise – Cooley LLP; Penelope Hale – Cooley LLP; Asa Henin – Cooley LLP; Daniel Herrmann – Cooley LLP; Alexander Israel – Cooley LLP; Allison Kutner – Cooley LLP; Jamie Leigh – Cooley LLP; Eileen Leman – Cooley LLP; Natasha Leskovsek – Cooley LLP; Kyrsten Lundh – Cooley LLP; Barbara Mirza – Cooley LLP; Philip Mitchell – Cooley LLP; Matteo Negro – Cooley LLP; Sangitha Palaniappa – Cooley LLP; Steve Przesmicki – Cooley LLP; Maya Rahwanji – Cooley LLP; Mika Reiner Mayer – Cooley LLP; Madhuri Roy – Cooley LLP; Stella Sarma – Cooley LLP; Patrick Sharma – Cooley LLP; Matthew Silverman – Cooley LLP; Dionne Thomas – Cooley LLP; Jeffrey Tolin – Cooley LLP; Heidi Wang – Cooley LLP; Adriana Wirtz – Cooley LLP; Andrew Bab – Debevoise & Plimpton; Caroline Brown – Debevoise & Plimpton; Peter Alpert – Ropes & Gray; Amanda Austin – Ropes & Gray; Renata Ferrari – Ropes & Gray; Aileen Kim – Ropes & Gray; Paul Kinsella – Ropes & Gray; Chrystal LaRoche – Ropes & Gray; Emily Oldshue – Ropes & Gray; Joshua Oyster – Ropes & Gray; Loretta Richard – Ropes & Gray; David Saltzman – Ropes & Gray; Leslie Thornton – Ropes & Gray; Rocky Tsai – Ropes & Gray; Patrick Welsh – Ropes & Gray;

Law Firms: Cooley LLP; Debevoise & Plimpton; Ropes & Gray;

Clients: Arena Pharmaceuticals, Inc.; Evercore Group ; Guggenheim Securities; Pfizer;