Novartis acquires Avidity Biosciences: the legal advisors

Swiss healthcare company Novartis, acting through one of its wholly-owned indirect subsidiaries, completed the acquisition of RNA therapeutics specialist Avidity Biosciences, for a total value of approximately USD 12 bn.

In connection with the deal, Homburger and Covington & Burling advised Novartis, while Kirkland & Ellis advised Avidity bioscience.

Moreover, Linklaters represented a global underwriting syndicate — including Citigroup, J.P. Morgan, BNP Paribas, Deutsche Bank and Mizuho, as well as BofA Securities, HSBC, Societe Generale and UBS Investment Bank — on a USD 11 billion SEC-registered bond issuance by Novartis, used to finance the acquisition.

The Homburger team

Frank Gerhard (corporate/M&A, pictured left) and Benjamin Leisinger (capital markets, pictured right) led the Homburger team on the matter, working alongside Stefan Bindschedler (financing), Olivier Baum (capital markets, corporate/M&A), and Timo Hasler (corporate/M&A).

The Linklaters team

Partner Marco Carbonare (corporate/M&A, Frankfurt) and US counsel Kevin Roy (corporate/M&A, Frankfurt) led the international cross-practice Linklaters team for the bond issuance.

The Kirkland & Ellis team

The Kirkland & Ellis team worked under the leadership of Boston-based partners Laura Knoll and Graham Robinson.

The Covington team

The Covington team on the matter included partners Catherine J. Dargan and Michael J. Riella from the Washington office and Alicia Zhang in New York.