Holland & Knight Leads Kos Pharmaceuticals, Inc. Buyout by Abbott Laboratories for $3.7 Billion
November 7, 2006
Robert J. "Bob" Grammig- Tampa
Steven Sonberg - Miami
Richard M. Yanofsky- Boston
NEW YORK – Holland & Knight LLP announces the representation, along with Cravath, Swaine and Moore, of its client Kos Pharmaceuticals, Inc.(NASDAQ: KOSP) in the sale of Kos to global health care products maker Abbott (NYSE:ABT) for approximately $3.7 billion net of cash currently held by Kos. The Holland & Knight team was led by Miami-based partner Steven Sonberg and Tampa-based partner Robert Grammig and partner Richard Yanofsky. The team from Cravath was led by partners Alan Stephenson, Sarkis Jebejian and Eric Hilfers.
Based in Cranbury, N.J., Kos Pharmaceuticals, Inc. ("Kos" or the "Company") – named after the Greek island where Hippocrates founded the science of medicine – is a fully integrated specialty pharmaceutical company engaged in the development of proprietary prescription pharmaceutical products, principally for treatment of cardiovascular, respiratory and metabolic diseases. The Company’s principal product development strategy is to reformulate existing pharmaceutical products with large market potential to improve safety, effectiveness and patient compliance.
Under the terms of the agreement, Abbott will make a tender offer for all of the outstanding stock of Kos for $78 per share.
Holland & Knight has represented Kos in two public offerings and a number of acquisitions for approximately 10 years.
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