Herbert Smith Freehills' London finance team has advised Bank of America Merrill Lynch (BAML) as the sole underwriter and mandated lead arranger on the financing of GlaxoSmithKline plc's acquisition of TESARO, Inc. for a total consideration of approximately $5.1 billion.
Will Nevin commented: "We are delighted to have advised BAML in supporting GSK's acquisition of a major oncology-focused US pharmaceutical company. This is our second significant role involving GSK in recent months, having also advised on the acquisition financing for its $13 billion buy-out of Novartis' stake in their consumer healthcare joint venture".
The acquisition was announced on 3 December 2018 and completed on 22 January 2019.
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