Slaughter and May is advising GlaxoSmithKline (GSK) on its major three-part inter-conditional transaction with Novartis which completed on 2 March 2015. Under the transaction:
* GSK acquired Novartis's global Vaccines business (excluding influenza vaccines) for an initial cash consideration of US$5.25 billion
* GSK has created a new world-leading Consumer Healthcare joint venture with Novartis in which GSK will have majority control and an equity interest of 63.5%
* GSK divested its Oncology business for an aggregate cash consideration of US$16 billion
GSK will use £4 billion of the net proceeds from the transaction to fund a capital return to shareholders.
Slaughter and May is supporting GSK's internal legal team, which is led by Dan Troy, Chip Cale and Elizabeth Planell.
CONTACTS
Corporate and Commercial:
Simon Nicholls, Richard Smith, Gavin Brown (partners), Victoria MacDuff, Nick Pacheco, Claire Jackson, Anthony Doolittle, Ben Magahy, Richard Hilton, Chris McGaffin, Giles Rabbitts, Jack Mills, Rob Coombes, Emily Jamieson, Philip Leightley, Andrew Smith, Krishna Omkar, Archi Campbell, Edward Chapman, Harriet Gallagher-Powell, Charlotte Pym, Hector Sants, William Oates, Liam Townson (associates), Warwick Brennand, Martin Byers, Rosy Cheetham, Jiayi Li, Dominic Brown, Max Schofield, Helen Mak, Kate Gaplevskaja, Stephanie Pun, Jonny Medland, Anthony Phillips (trainees)
Intellectual Property:
Susie Middlemiss (partner), Laura Houston, Richard McDonnell, Mark Ellis, Sarah Mateen (associates), Alastair Moore (trainee)
Tax:
Dominic Robertson (partner), James Hume, Emma Game (associates), Liu Hui (trainee)
Pensions and Employment:
Sandy Maudgil, Roland Doughty (partners), Eleanor Hart, Alison Smullen, Jack Skinner, Lucy Duane, David Wilks, Sonnhild Heinsch (associates), Jack Dickie (trainee)
Real Estate:
David Waterfield (partner), Victoria Watson, Andrea Shepherd, Krishnan Patel (associates), Felicity Mithen (trainee)
Financing:
Guy O'Keefe (partner), Andrew Williams, Brandon Ovington (associates).
