DLA Piper represented Sanpower Group Co., Ltd., one of the largest privately owned conglomerates in China, on its entry into a definitive agreement to acquire Dendreon Pharmaceuticals, Inc. for US$819.9 million.
Sanpower Group's acquisition of Dendreon is a landmark transaction after China instituted sweeping restrictions over outbound acquisitions toward the end of 2016. While outbound acquisitions may come under more substantive scrutiny by the Chinese authorities, many believe China would still encourage its successful companies to acquire strategic assets overseas that align with China's national and industrial policies.
The DLA Piper team representing Sanpower Group consisted of partners Qiang Li and Stewart Wang (both of Shanghai) and Brandee Fernandez (Silicon Valley).
The execution of Sanpower Group's acquisition of Dendreon by DLA Piper through its strategic resources in both China and Silicon Valley underscores the firm's strong cross-border transactional capabilities.
DLA Piper's global life sciences lawyers work across practice areas and offices to support biotechnology and medical device clients at every stage of growth, from startups to fast-growing and mid-market businesses to mature global enterprises. Last year, according to Mergermarket's league tables for legal advisors, DLA Piper again earned the No. 1 ranking globally for overall deal volume.