Kirkland & Ellis LLP advised Furiex Pharmaceuticals, Inc. (NASDAQ: FURX), a drug development collaboration company, in its definitive agreement announced today to be acquired by Forest Laboratories, Inc. (NYSE: FRX) for $95 per share, or approximately $1.1 billion in cash, and up to $30 per share (or approximately $360 million) in Contingent Value Rights (CVR) that may be payable based on the status of eluxadoline, Furiex’s lead product, as a controlled drug following approval. The acquisition is subject to customary regulatory approvals and approval by Furiex shareholders.
The Kirkland team was led by New York corporate partners Richard Brand and Stephen Fraidin and included associates Benjamin Ritzo, Willard Boothby, Lauren Rakower and Solomon Eskinazi.
