Tuesday, September 7, 2010

ZymoGenetics Acquired By Bristol-Myers Squibb

Seattle-based ZymoGenetics, a developer of biotherapeutics for treating hepatitis C and metastatic melanoma, along with other disorders, is being acquired by Bristol-Myers Squibb. According to the firms, the deal is worth $9.75 per share in cash, or approximately $885M. The deal is worth $735M net of cash. Bristol-Myers Squibb said the buy would strengthen the firm's Hepatitis C portfolio. Bristol-Myers Squibb was represented by Kirkland & Ellis, as well as Morgan Stanley & Co. ZymoGenetics was represented by Latham & Watkins LLP, Fenwick & West LLP, and Goldman Sachs & Co.