- Kirkland guides longstanding client Danaher
- Simpson Thacher advises return client EQT, as well as Aldevron
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(Reuters) – Kirkland & Ellis and Simpson Thacher & Bartlett are taking charge of medical equipment maker Danaher Corp’s agreement to scoop up biotech company Aldevron, a supplier to COVID-19 vaccine maker Moderna Inc, for about $9.6 billion in cash.
The deal, announced on Thursday, will see North Dakota-based Aldevron operate as a stand-alone company within Danaher Life Sciences segment, according to the press release.
Aldevron has a contract to supply Moderna plasmid DNA required to make the drugmaker’s mRNA vaccine. Danaher also has an agreement with the U.S. government to expand the manufacturing of products needed to make COVID-19 vaccines.
Kirkland is guiding Danaher on the acquisition with a team led by corporate partners Michael Brueck, Francisco Morales Barrón and Daniel Wolf.
Kirkland most recently advised the D.C.-based company on the sale of some of its business units to pharmaceutical and laboratory equipment supplier Sartorius AG for roughly $750 million in 2019, according to a firm press release. Brueck, Morales Barrón and Wolf all took part in that deal.
Simpson Thacher is advising Aldevron and its major shareholder, Swedish fund EQT. The firm’s team includes mergers and acquisitions partners Patrick Naughton and Naveed Anwar.
Naughton and Anwar were both part of the Simpson Thacher team that steered EQT on its purchase of a majority stake in Aldevron in 2019, according to a firm press release.
Simpson Thacher and Kirkland rank third and sixth, respectively, among the top 25 law firms advising on M&A deals so far this year, according to data provider Refinitiv.