Eversheds Dublin office has advised on the takeover by Endo Health Solutions Inc. (NASDAQ: ENDP) of Paladin Labs Europe Limited (TMX: PLB) for approximately US$1.7 billion.

The acquiring entity will be an Irish holding company. The deal is the first Irish inversion with no primary Irish target. An inversion is a legal transaction whereby one corporation becomes a subsidiary of another headquartered in a foreign jurisdiction, and as a result the original corporation becomes subject to the tax laws of the foreign jurisdiction instead.

Partners Abigail St John Kennedy, Piaras Power, Darragh Blake, and solicitors Darran Nangle and Niamh McMahon from the corporate banking team acted for Endo Health.