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Cooley’s M&A Insights for Q3 2022

Cooley M&A

Some of the tax provisions contained in the legislation, including the 1% excise tax on certain stock buybacks, may impact special purpose acquisition companies (SPACs) at key points in their life cycle. Biotech Company ViaCyte to Be Acquired by Vertex Pharmaceuticals. Notable public deals. TCGplayer Agrees to Sell to eBay.

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Cooley’s 2023 Life Sciences M&A Year in Review: Potent Mix of Creativity and Resilience Spurs Activity Heading Into 2024

Cooley M&A

While the year saw an overall decline in M&A activity (down 17% from 2022) , total pharmaceuticals and life sciences deal value in 2023 increased by approximately 50% compared to 2022. Why did life sciences outperform the market? The last quarter of the year ended with a surge of deal activity.

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Cooley’s 2022 Life Sciences M&A Year in Review

Cooley M&A

But it wasn’t all carve outs and concerned investors – even with the headwinds in the industry and beyond, there were still several traditional public M&A deals involving biotechnology or medical device companies, as large pharmaceutical companies continued to have cash to deploy for acquisitions. Let’s dig in.

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How Common are Postmerger Divestitures of Acquired Company Units?

M&A Leadership Council

For example, in Switzerland, Sandoz and Ciba spun off their chemicals business units – one as a taxable initial public offering and one as a tax-free “demerger” – before merging their pharmaceutical cores into Novartis. Sometimes spin-offs precede mergers.

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Cooley’s 2023 Activism Year in Review: Wolfpacks at the Gate

Cooley M&A

Activist target profile: Top flags for tech and healthcare companies Activists are stock pickers – generally building a position at a target company only if they can drive meaningful risk-adjusted returns. Campaigns aimed at selling companies tend to be waged by existing stockholders, some of whom may be first time activists.