Sept. 09, 2020 - Davies has submitted a comprehensive comment letter to the Capital Markets Modernization Taskforce (Taskforce) in response to the consultation report published by the Taskforce on July 9, 2020 (Report). The Taskforce was formed by the Ontario government in February 2020 with a mandate to review...
Ipsen Acquires Clementia Pharmaceuticals for US$1.3 Billion
Davies acted for French biopharmaceutical company Ipsen in the acquisition of Québec-based Clementia Pharmaceuticals for a purchase price of US$25.00 per share in cash upfront, plus a contingent value right of US$6.00 per share, for a total transaction value of up to US$1.31 billion.
The acquisition, which includes Clementia’s key late-stage drug candidate palovarotene, is part of Ipsen’s transformative plan to boost its portfolio of products treating rare diseases.
The transaction closed on April 17, 2019, following approval of the plan of arrangement by Clementia shareholders and the Québec Superior Court.
The Davies team on this transaction included Bill Ainley, Brett Seifred, Emily Uza and Russell Hall (Corporate/M&A); Paul Lamarre (Tax); Jim Dinning and Alysha Manji-Knight (Competition); Jessica Bullock and Rachael Lee (Labour and Employment).
Aug. 13, 2020 - The Minister of Innovation, Science and Industry has issued an order, under recently enacted federal legislation, extending several time periods for the national security review (NSR) process under the Investment Canada Act (ICA). The NSR process may be invoked in respect of any...