News

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13 Jun 2008

DLA Piper advises Invitrogen on $6.7 billion merger with Applera Corporation

Press Release

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DLA Piper advised Invitrogen Corporation in its proposed $6.7 billion merger with Applera Corporation. The deal will create one of the world’s leading biotechnology companies, to be named Applied Biosystems, with expected annual sales of approximately $3.5 billion. Under the terms of the merger agreement, Applera-Applied Biosystems shareholders will receive $38.00 per share in the form of Invitrogen common stock and cash. The deal is subject to customary conditions, including antitrust review.

DLA Piper lawyers advised Invitrogen on all aspects of the transaction, including the merger agreement, commitment letters with the lenders and addressing significant tax matters. Lawyers from throughout the firm’s international network advised on the transaction. Invitrogen is a longstanding client of DLA Piper, and was originally a client of legacy firm Gray Cary Ware & Freidenrich.

The principal DLA Piper lawyers who advised Invitrogen on the transaction include lead M&A lawyer Jonathan Klein (Mergers and Acquisitions), Bruce Wein (Tax), Rita Patel (ERISA), Jeff Shohet (Antitrust & Trade Regulation) and Roger Meltzer (Global Head of Corporate and Finance) along with Jamie Knox (Corporate and Finance), Nia Brown (Mergers and Acquisitions), Beth McAuley (Mergers and Acquisitions), Matt Leivo (Mergers and Acquisitions) and Carlos Rivas (Corporate and Finance). Jeff Baglio (Corporate and Finance) and Jay Rains (Corporate and Finance), regular outside counsel to Invitrogen, coordinated the transaction out of San Diego.