Pharmaceutical Company Sold for $4.2 Billion
Holland & Knight represented long-time client Kos Pharmaceuticals, Inc., a fully integrated specialty pharmaceutical company, in the tender offer merger of Kos to global health care products maker Abbott Laboratories. The total value of the transaction, which involved a mini-auction, was approximately $4.2 billion. The tender offer price of $78 per share represented a 56 percent premium over the closing price of Kos' shares on the trading day preceding the agreement.