O’Melveny & Myers and Schellenberg Wittmer have advised Samsung Biologics, a contract development and manufacturing organisation for pharmaceutical products, on its proposed CHF1.46 billion (USD1.8 billion) acquisition of Switzerland-based peer PolyPeptide Group.
Samsung Biologics said the public tender offer was expected to launch by the end of August and be completed by the end of the year, subject to customary offer conditions and regulatory approvals.
Once the acquisition occurred, Samsung Biologics said it planned to acquire any remaining minority shares through a squeeze-out procedure and delist PolyPeptide from the SIX Swiss Exchange, resulting in the company becoming a wholly owned subsidiary.
Seoul-based partner Daniel Kim led the O’Melveny & Myers team and Schellenberg Wittmer advised on Swiss law.
JP Morgan served as the exclusive financial adviser to Samsung Biologics, while Ernst & Young Han Young was the accounting and tax adviser.
Zurich-based law firm Homburger acted as legal counsel to PolyPeptide Group, with partner Frank Gerhard spearheading the team.
Samsung Biologics said the acquisition would extend its capabilities beyond antibodies and antibody-drug conjugates (ADCs) into peptide therapeutics, a rapidly expanding segment of the biopharmaceutical market encompassing medications used to treat diseases, regulate hormones and target specific biological functions.
The company also said the transaction would enhance its operational capabilities and diversify its service offering through expansion into peptides, while further strengthening its geographic footprint and proximity in India, the US and Europe.
