New York – October 14, 2024 – Cooley advised Longboard Pharmaceuticals (Nasdaq: LBPH), a clinical-stage biopharmaceutical company focused on developing novel, transformative medicines for neurological diseases, on its $2.6 billion sale to Lundbeck. Under the terms of the agreement, Lundbeck will commence a tender offer for all outstanding shares of Longboard common stock, offering Longboard shareholders $60 per share in cash. The transaction is expected to close in the fourth quarter of 2024, subject to the tender of at least a majority of the total number of Longboard outstanding voting shares, receipt of required regulatory clearances, and other customary conditions.
Lawyers Kevin Cooper, Steve Przesmicki, Jenny Ge and Cristina Lombardi led the Cooley team advising Longboard.
Longboard was launched by Arena Pharmaceuticals, which Cooley represented on its $6.7 billion sale to Pfizer in December 2021.
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